|Exchange:||New York Stock Exchange|
|Lennar Corporation was founded as a local Miami homebuilder in 1954. The Company is one of the nation’s homebuilders and a provider of financial services. Its homebuilding operations include the construction and sale of single-family attached and detached homes, and to a lesser extent multi-level residential buildings, as well as the purchase, development and sale of residential land directly and through unconsolidated entities in which it has investments. The Company has grouped its homebuilding activities into five reportable segments, which it refers to as Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston. It has two other reportable segments: a Financial Services reportable segment and a Rialto reportable segment. Its Financial Services reportable segment provides mortgage financing, title insurance and closing services for both buyers of its homes and others. Its Rialto reportable segment focuses on real estate investments and asset management. The Company offers a diversified line of homes for first-time, move-up and active adult homebuyers available in a variety of environments ranging from urban infill communities to golf course communities. It sells single-family attached and detached homes, and to a lesser extent, multi-level residential buildings, in communities targeted to first-time, move-up and active adult homebuyers. The Company competes for homebuyers in each of the market regions where it operates with numerous national, regional and local homebuilders, as well as with resales of existing homes and with the rental housing market. The residential homebuilding industry is also subject to a variety of local, state and federal statutes, ordinances, rules and regulations concerning the protection of health and the environment.|
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