Item 16. Form 10-K Summary

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Item 16. Form 10-K Summary

None.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

LENNAR CORPORATION
/S/ RICK BECKWITT
Rick Beckwitt
Chief Executive Officer and Director
Date:January 27, 2020

Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated:

Principal Executive Officer:
Rick Beckwitt/S/ RICK BECKWITT
Chief Executive Officer and DirectorDate:January 27, 2020
Principal Financial Officer:
Diane Bessette/S/ DIANE BESSETTE
Vice President, Chief Financial Officer and TreasurerDate:January 27, 2020
Principal Accounting Officer:
David Collins/S/ DAVID COLLINS
ControllerDate:January 27, 2020
Directors:
Irving Bolotin/S/ IRVING BOLOTIN
Date:January 27, 2020
Steven L. Gerard/S/ STEVEN L. GERARD
Date:January 27, 2020
Theron I. ("Tig") Gilliam, Jr./S/ THERON I. ("TIG") GILLIAM, JR.
Date:January 27, 2020
Sherrill W. Hudson/S/ SHERRILL W. HUDSON
Date:January 27, 2020
Jonathan M. Jaffe/S/ JONATHAN M. JAFFE
Date:January 27, 2020
Sidney Lapidus/S/ SIDNEY LAPIDUS
Date:January 27, 2020
Teri McClure/S/ TERI MCCLURE
Date:January 27, 2020
Stuart Miller/S/ STUART MILLER
Date:January 27, 2020
Armando Olivera/S/ ARMANDO OLIVERA
Date:January 27, 2020
Jeffrey Sonnenfeld/S/ JEFFREY SONNENFELD
Date:January 27, 2020
Scott Stowell/S/ SCOTT STOWELL
Date:January 27, 2020

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the shareholders and the Board of Directors of Lennar Corporation

Opinion on the Financial Statement Schedule

We have audited the consolidated financial statements of Lennar Corporation and subsidiaries (the "Company") as of November 30, 2019 and 2018, and for each of the three years in the period ended November 30, 2019, and the Company's internal control over financial reporting as of November 30, 2019, and have issued our reports thereon dated January 27, 2020; such reports are included elsewhere in this Form 10K. Our audits also included the financial statement schedule of the Company listed in the Index at Item 15. This financial statement schedule is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company’s financial statement schedule based on our audits. In our opinion, such financial statement schedule, when considered in relation to the financial statements taken as a whole, presents fairly, in all material respects, the information set forth therein.

/s/ Deloitte & Touche LLP
Miami, Florida
January 27, 2020

LENNAR CORPORATION AND SUBSIDIARIES

Schedule II—Valuation and Qualifying Accounts

Years Ended November 30, 2019**,** 2018 and 2017

Additions
(In thousands)Beginning balanceCharged to costs and expensesCharged (credited) to other accountsDeductionsEnding balance
Year ended November 30, 2019
Allowances deducted from assets to which they apply:
Allowances for doubtful accounts and notes and other receivables$2,7931,404(344)(474)3,379
Allowance for loan losses and loans receivable$6,154485—(2,517)4,122
Allowance against net deferred tax assets$7,219——(2,878)4,341
Year ended November 30, 2018
Allowances deducted from assets to which they apply:
Allowances for doubtful accounts and notes and other receivables$2,849246(156)(146)2,793
Allowance for loan losses and loans receivable$3,1922,1773,890(3,105)6,154
Allowance against net deferred tax assets$6,423796——7,219
Year ended November 30, 2017
Allowances deducted from assets to which they apply:
Allowances for doubtful accounts and notes and other receivables$3282602,463(202)2,849
Allowance for loan losses and loans receivable$33,57532,850(1)(63,232)3,192
Allowance against net deferred tax assets$5,773650——6,423

Previous: Item 15. Exhibits, Financial Statement Schedules.