2019 Q3 Form 10-Q Financial Statement

#000162828019012204 Filed on October 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3
Revenue $5.857B $5.673B
YoY Change 3.25% 73.93%
Cost Of Revenue $5.015B $4.910B
YoY Change 2.13% 78.92%
Gross Profit $1.086B $1.058B
YoY Change 2.62% 62.65%
Gross Profit Margin 18.54% 18.65%
Selling, General & Admin $92.60M $96.30M
YoY Change -3.84% 32.1%
% of Gross Profit 8.53% 9.1%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.80M $25.30M
YoY Change -9.88% 44.57%
% of Gross Profit 2.1% 2.39%
Operating Expenses $25.70M $86.20M
YoY Change -70.19% 2.38%
Operating Profit $759.7M $565.9M
YoY Change 34.24% 28.25%
Interest Expense -$100.9M -$98.80M
YoY Change 2.13% 52.23%
% of Operating Profit -13.28% -17.46%
Other Income/Expense, Net
YoY Change
Pretax Income $667.1M $565.9M
YoY Change 17.88% 53.62%
Income Tax $154.4M $98.30M
% Of Pretax Income 23.15% 17.37%
Net Earnings $513.4M $453.2M
YoY Change 13.27% 81.89%
Net Earnings / Revenue 8.76% 7.99%
Basic Earnings Per Share $1.60 $1.37
Diluted Earnings Per Share $1.59 $1.37
COMMON SHARES
Basic Shares Outstanding 318.1M shares 327.2M shares
Diluted Shares Outstanding 318.1M shares 327.2M shares

Balance Sheet

Concept 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.045B $1.048B
YoY Change -0.29% 25.06%
Cash & Equivalents $1.070B $1.048B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $18.85B $17.57B
Prepaid Expenses
Receivables $551.0M $557.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $20.44B $19.17B
YoY Change 6.62% 58.02%
LONG-TERM ASSETS
Property, Plant & Equipment $285.0M $294.0M
YoY Change -3.06% 63.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.321B $2.171B
YoY Change 6.91% 11.05%
Other Assets $1.253B $981.0M
YoY Change 27.73% 37.01%
Total Long-Term Assets $9.015B $9.115B
YoY Change -1.1% 89.69%
TOTAL ASSETS
Total Short-Term Assets $20.44B $19.17B
Total Long-Term Assets $9.015B $9.115B
Total Assets $29.46B $28.29B
YoY Change 4.14% 67.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.270B $1.109B
YoY Change 14.52% 69.83%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $1.907B $967.0M
YoY Change 97.21%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.177B $2.076B
YoY Change 53.03% 217.92%
LONG-TERM LIABILITIES
Long-Term Debt $8.375B $9.647B
YoY Change -13.19% 40.61%
Other Long-Term Liabilities $2.442B $2.450B
YoY Change -0.33% 38.73%
Total Long-Term Liabilities $10.82B $12.10B
YoY Change -10.58% 40.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.177B $2.076B
Total Long-Term Liabilities $10.82B $12.10B
Total Liabilities $13.99B $14.17B
YoY Change -1.27% 52.73%
SHAREHOLDERS EQUITY
Retained Earnings $7.633B $5.705B
YoY Change 33.81% 19.37%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $855.2M $185.5M
YoY Change 360.97% 36.34%
Treasury Stock Shares
Shareholders Equity $15.37B $14.03B
YoY Change
Total Liabilities & Shareholders Equity $29.46B $28.29B
YoY Change 4.14% 67.0%

Cashflow Statement

Concept 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $513.4M $453.2M
YoY Change 13.27% 81.89%
Depreciation, Depletion And Amortization $22.80M $25.30M
YoY Change -9.88% 44.57%
Cash From Operating Activities $728.2M $706.9M
YoY Change 3.01% 45.01%
INVESTING ACTIVITIES
Capital Expenditures -$21.80M -$22.60M
YoY Change -3.54% 12.44%
Acquisitions
YoY Change
Other Investing Activities $74.00M -$45.00M
YoY Change -264.44% -29.58%
Cash From Investing Activities $52.20M -$67.60M
YoY Change -177.22% -19.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -731.7M -752.2M
YoY Change -2.73% 36.84%
NET CHANGE
Cash From Operating Activities 728.2M 706.9M
Cash From Investing Activities 52.20M -67.60M
Cash From Financing Activities -731.7M -752.2M
Net Change In Cash 48.70M -112.9M
YoY Change -143.14% -22.83%
FREE CASH FLOW
Cash From Operating Activities $728.2M $706.9M
Capital Expenditures -$21.80M -$22.60M
Free Cash Flow $750.0M $729.5M
YoY Change 2.81% 43.72%

Facts In Submission

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us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
62634000 USD
us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
70322000 USD
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
154736000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2533000 USD
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-3200000 USD
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
1288000 USD
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
59145000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
27395000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
4008000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
35689000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
68627000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
12459000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
388000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3189000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
419322000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
49490000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
38776000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
35985000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-785050000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1318085000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-526114000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1610542000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1595978000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2694084000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1069864000 USD
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1083542000 USD
len Noncash Consolidation Deconsolidation Inventory
NoncashConsolidationDeconsolidationInventory
187506000 USD
len Noncash Consolidation Deconsolidation Inventory
NoncashConsolidationDeconsolidationInventory
35430000 USD
len Noncash Consolidation Deconsolidation Receivables
NoncashConsolidationDeconsolidationReceivables
102959000 USD
len Noncash Consolidation Deconsolidation Receivables
NoncashConsolidationDeconsolidationReceivables
7198000 USD
len Noncash Consolidation Deconsolidation Property Plantand Equipmentand Other Assets
NoncashConsolidationDeconsolidationPropertyPlantandEquipmentandOtherAssets
53412000 USD
len Noncash Consolidation Deconsolidation Property Plantand Equipmentand Other Assets
NoncashConsolidationDeconsolidationPropertyPlantandEquipmentandOtherAssets
0 USD
len Noncash Consolidation Deconsolidation Equity Method Investments
NoncashConsolidationDeconsolidationEquityMethodInvestments
67925000 USD
len Noncash Consolidation Deconsolidation Equity Method Investments
NoncashConsolidationDeconsolidationEquityMethodInvestments
-25614000 USD
len Noncash Consolidation Deconsolidation Notes Payable
NoncashConsolidationDeconsolidationNotesPayable
-383212000 USD
len Noncash Consolidation Deconsolidation Notes Payable
NoncashConsolidationDeconsolidationNotesPayable
0 USD
len Noncash Consolidation Deconsolidation Other Liabilities
NoncashConsolidationDeconsolidationOtherLiabilities
-19696000 USD
len Noncash Consolidation Deconsolidation Other Liabilities
NoncashConsolidationDeconsolidationOtherLiabilities
-17014000 USD
len Noncash Consolidation Deconsolidation Noncontrollinginterests
NoncashConsolidationDeconsolidationNoncontrollinginterests
-8894000 USD
len Noncash Consolidation Deconsolidation Noncontrollinginterests
NoncashConsolidationDeconsolidationNoncontrollinginterests
0 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;padding-top:8px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</span></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates.</span></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="line-height:120%;padding-top:8px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassifications</span></div><div style="line-height:120%;padding-top:8px;text-indent:30px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Certain prior year amounts in the condensed consolidated financial statements have been reclassified to conform with the 2019 presentation. The Company's segments were adjusted to reflect Rialto Mortgage Finance ("RMF") and certain other Rialto assets within the Financial Services segment effective December 1, 2018. The remaining assets retained related to the Company's former Rialto segment were included in the Lennar Other segment. In addition, the Company's strategic technology investments, which were part of Homebuilding, were reclassified to be included in the Lennar Other segment. These reclassifications were between segments and had no impact on the Company's total assets, total equity, revenue or net income in the condensed consolidated financial statements.</span></div>
CY2019Q3 us-gaap Assets
Assets
29459447000 USD
CY2018Q4 us-gaap Assets
Assets
28566181000 USD
CY2019Q3 us-gaap Revenues
Revenues
5857058000 USD
CY2018Q3 us-gaap Revenues
Revenues
5672569000 USD
us-gaap Revenues
Revenues
15288030000 USD
us-gaap Revenues
Revenues
14112421000 USD
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
667083000 USD
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
565918000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1545606000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
1226156000 USD
CY2019Q3 len Sales Incentives
SalesIncentives
330200000 USD
CY2019Q3 len Sales Incentives Per Home Delivered
SalesIncentivesPerHomeDelivered
24400
len Sales Incentives
SalesIncentives
890700000 USD
len Sales Incentives Per Home Delivered
SalesIncentivesPerHomeDelivered
25400
CY2018Q3 len Sales Incentives
SalesIncentives
289000000.0 USD
CY2018Q3 len Sales Incentives Per Home Delivered
SalesIncentivesPerHomeDelivered
22900
len Sales Incentives
SalesIncentives
717000000.0 USD
len Sales Incentives Per Home Delivered
SalesIncentivesPerHomeDelivered
22800
len Equity Method Investments Summarized Financial Information Business Combination Contingent Consideration Arrangements Changein Amountof Contingent Consideration Asset Liability
EquityMethodInvestmentsSummarizedFinancialInformationBusinessCombinationContingentConsiderationArrangementsChangeinAmountofContingentConsiderationAssetLiability
64900000 USD
len Equity Method Investment Business Combination Contingent Consideration Arrangements Changein Amountof Contingent Consideration Asset Liability
EquityMethodInvestmentBusinessCombinationContingentConsiderationArrangementsChangeinAmountofContingentConsiderationAssetLiability
25900000 USD
CY2019Q3 len Numberof Unconsolidated Entities Debt Repayment Guarantee
NumberofUnconsolidatedEntitiesDebtRepaymentGuarantee
2 joint_venture
CY2018Q4 len Numberof Unconsolidated Entities Debt Repayment Guarantee
NumberofUnconsolidatedEntitiesDebtRepaymentGuarantee
4 joint_venture
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
15246535000 USD
CY2019Q3 us-gaap Profit Loss
ProfitLoss
512643000 USD
CY2019Q3 len Stock Issued During Period Value Sharebased Compensation Netof Forfeituresand Treasury Stock Retired
StockIssuedDuringPeriodValueSharebasedCompensationNetofForfeituresandTreasuryStockRetired
-22359000 USD
CY2019Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
295930000 USD
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
34048000 USD
CY2019Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
12899000 USD
CY2019Q3 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
18458000 USD
CY2019Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
12372000 USD
CY2019Q3 len Noncontrolling Interest Increase Decreasefrom Noncash Activity
NoncontrollingInterestIncreaseDecreasefromNoncashActivity
2357000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
180000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
15465947000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14682957000 USD
us-gaap Profit Loss
ProfitLoss
1170936000 USD
len Stock Issued During Period Value Sharebased Compensation Netof Forfeituresand Treasury Stock Retired
StockIssuedDuringPeriodValueSharebasedCompensationNetofForfeituresandTreasuryStockRetired
-23050000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
394711000 USD
us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
65438000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
38776000 USD
us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
27395000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
35689000 USD
len Noncontrolling Interests Non Cash Consolidations
NoncontrollingInterestsNonCashConsolidations
8894000 USD
CY2018Q4 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
9753000 USD
len Noncontrolling Interest Increase Decreasefrom Noncash Activity
NoncontrollingInterestIncreaseDecreasefromNoncashActivity
7973000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
773000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
15465947000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
13698870000 USD
CY2018Q3 us-gaap Profit Loss
ProfitLoss
467620000 USD
CY2018Q3 len Stock Issued During Period Value Sharebased Compensation Netof Forfeituresand Treasury Stock Retired
StockIssuedDuringPeriodValueSharebasedCompensationNetofForfeituresandTreasuryStockRetired
-20943000 USD
CY2018Q3 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
21918000 USD
CY2018Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
13205000 USD
CY2018Q3 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
126000 USD
CY2018Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
38215000 USD
CY2018Q3 len Noncontrolling Interest Increase Decreasefrom Noncash Activity
NoncontrollingInterestIncreaseDecreasefromNoncashActivity
-285000 USD
CY2018Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-276000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14116180000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7986132000 USD
us-gaap Profit Loss
ProfitLoss
919286000 USD
len Stock Issued During Period Value Sharebased Compensation Netof Forfeituresand Treasury Stock Retired
StockIssuedDuringPeriodValueSharebasedCompensationNetofForfeituresandTreasuryStockRetired
-45148000 USD
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
5070006000 USD
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
217154000 USD
us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition
55638000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
35985000 USD
us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
4008000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
68627000 USD
len Noncontrolling Interest Increase Decreasefrom Noncash Activity
NoncontrollingInterestIncreaseDecreasefromNoncashActivity
-15365000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1649000 USD
CY2018Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14116180000 USD
CY2019Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1000000000 USD
CY2019Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
25000000 shares
CY2019Q3 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
6100000 shares
CY2019Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
295900000 USD
CY2019Q3 len Shares Repurchased Average Price Per Share
SharesRepurchasedAveragePricePerShare
48.41
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
8100000 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
394700000 USD
len Shares Repurchased Average Price Per Share
SharesRepurchasedAveragePricePerShare
48.65
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
154440000 USD
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
98298000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
374670000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
306870000 USD
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.231
CY2018Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.178
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.242
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.254
CY2018Q1 len Tax Cutsand Jobs Act Incomplete Accounting Changein Tax Rate Deferred Tax Asset Provisional Income Tax Expense
TaxCutsandJobsActIncompleteAccountingChangeinTaxRateDeferredTaxAssetProvisionalIncomeTaxExpense
68600000 USD
CY2018Q3 len Effective Income Tax Rate Reconciliation Tax Accounting Method Changesand Tax Credit Energy Amount
EffectiveIncomeTaxRateReconciliationTaxAccountingMethodChangesandTaxCreditEnergyAmount
-34100000 USD
len Effective Income Tax Rate Excluding Tax Cutsand Jobs Act Tax Accounting Method Changeand Tax Credit Energy Percent
EffectiveIncomeTaxRateExcludingTaxCutsandJobsActTaxAccountingMethodChangeandTaxCreditEnergyPercent
0.226
CY2019Q3 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
370000000.0 USD
CY2018Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
515500000 USD
CY2019Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
14700000 USD
CY2019Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
55000000.0 USD
len Unrecognized Tax Benefits Increase Decreasein Income Tax Penaltiesand Interest Accrued
UnrecognizedTaxBenefitsIncreaseDecreaseinIncomeTaxPenaltiesandInterestAccrued
2100000 USD
CY2018Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
52900000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
513366000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
453211000 USD
us-gaap Net Income Loss
NetIncomeLoss
1174748000 USD
us-gaap Net Income Loss
NetIncomeLoss
899683000 USD
CY2019Q3 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
119000 USD
CY2018Q3 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
105000 USD
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
312000 USD
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
319000 USD
CY2019Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
4401000 USD
CY2018Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
3633000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
9271000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
7674000 USD
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
508846000 USD
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
449473000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1165165000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
891690000 USD
CY2019Q3 len Dilutive Securities Effecton Basic Earnings Per Share Attributableto Noncontrolling Interest
DilutiveSecuritiesEffectonBasicEarningsPerShareAttributabletoNoncontrollingInterest
1498000 USD
CY2018Q3 len Dilutive Securities Effecton Basic Earnings Per Share Attributableto Noncontrolling Interest
DilutiveSecuritiesEffectonBasicEarningsPerShareAttributabletoNoncontrollingInterest
347000 USD
len Dilutive Securities Effecton Basic Earnings Per Share Attributableto Noncontrolling Interest
DilutiveSecuritiesEffectonBasicEarningsPerShareAttributabletoNoncontrollingInterest
4655000 USD
len Dilutive Securities Effecton Basic Earnings Per Share Attributableto Noncontrolling Interest
DilutiveSecuritiesEffectonBasicEarningsPerShareAttributabletoNoncontrollingInterest
796000 USD
CY2019Q3 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 USD
CY2018Q3 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 USD
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
0 USD
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
80000 USD
CY2019Q3 len Undistributed Earnings Loss Allocatedto Participating Securities Diluted Originally Allocated
UndistributedEarningsLossAllocatedtoParticipatingSecuritiesDilutedOriginallyAllocated
0 USD
CY2018Q3 len Undistributed Earnings Loss Allocatedto Participating Securities Diluted Originally Allocated
UndistributedEarningsLossAllocatedtoParticipatingSecuritiesDilutedOriginallyAllocated
0 USD
len Undistributed Earnings Loss Allocatedto Participating Securities Diluted Originally Allocated
UndistributedEarningsLossAllocatedtoParticipatingSecuritiesDilutedOriginallyAllocated
0 USD
len Undistributed Earnings Loss Allocatedto Participating Securities Diluted Originally Allocated
UndistributedEarningsLossAllocatedtoParticipatingSecuritiesDilutedOriginallyAllocated
6000 USD
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
507348000 USD
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
449126000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1160510000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
890980000 USD
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
318103000 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
327214000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
319924000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
302046000 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000 shares
CY2018Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
23000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
57000 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2018Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
732000 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
318104000 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
327237000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
319927000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
302835000 shares
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.60
CY2018Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.37
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.64
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.95
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.59
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.37
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.63
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.94
CY2019Q3 len Loss Contingency Accrual Increasefor Business Acquisitions
LossContingencyAccrualIncreaseforBusinessAcquisitions
0 USD
CY2018Q3 len Loss Contingency Accrual Increasefor Business Acquisitions
LossContingencyAccrualIncreaseforBusinessAcquisitions
20500000 USD
len Loss Contingency Accrual Increasefor Business Acquisitions
LossContingencyAccrualIncreaseforBusinessAcquisitions
0 USD
len Loss Contingency Accrual Increasefor Business Acquisitions
LossContingencyAccrualIncreaseforBusinessAcquisitions
24459000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1069864000 USD
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1083542000 USD
CY2019Q3 us-gaap Escrow Deposit
EscrowDeposit
492800000 USD
CY2018Q4 us-gaap Escrow Deposit
EscrowDeposit
926100000 USD
len Escrow Deposit Period
EscrowDepositPeriod
P3D
CY2019Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
291624000 USD
CY2018Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
294710000 USD
CY2018Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
319109000 USD
CY2017Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
164619000 USD
CY2019Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
49603000 USD
CY2018Q3 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
48878000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
131429000 USD
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773000 USD
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505200000 USD
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29459447000 USD
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14581535000 USD
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101422000 USD
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14682957000 USD
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28566181000 USD
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5857058000 USD
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1175521000 USD
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-3812000 USD
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249071000 USD
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13049625000 USD
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92615000 USD
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5208701000 USD
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667083000 USD
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180000 USD
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166000 USD
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-276000 USD
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ComprehensiveIncomeNetOfTax
452935000 USD
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14409000 USD
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1545606000 USD
us-gaap Income Tax Expense Benefit
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374670000 USD
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IncomeLossFromSubsidiariesNetOfTax
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IncomeLossFromSubsidiariesNetOfTax
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us-gaap Profit Loss
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NetIncomeLossAttributableToNoncontrollingInterest
19603000 USD
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292000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-1649000 USD
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ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
19603000 USD
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1170936000 USD
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0 USD
us-gaap Other Operating Activities Cash Flow Statement
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us-gaap Net Cash Provided By Used In Operating Activities
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