Lennar says reviewing item in cash flow statement Tue Oct 11, 2005 05:54 PM ET LOS ANGELES, Oct 11 (Reuters) - Builder Lennar Corp. (LEN.N: Quote, Profile, Research) on Tuesday said that it was reviewing the classification of an item on its statements of cash flows, but said it expected no effect on its balance sheet or reported earnings from the accounting review. The Miami-based home builder said it had asked securities regulators for an extension of the deadline for filing its quarterly report for the period ended Aug. 31.
It said the accounting item under review concerned the treatment of earnings from unconsolidated entities and whether those should be classified as cash flows from operations rather than investments.>>>
This review will have absolutely no effect on cash flow. READ THE ARTICLE: it will not affect earnings per share, it will only effect operating income and investing income in exactly the same but opposite way!!!!!!!!! God damn, you people already up to the point where you want to find bad news where there is none.
On a very basic level it seems to me that if this company finds itself a bit short of the ready, then they will be in a pinch no matter how many houses they have on sale. Need something to pay the bills, no?
BerryBus, Dude you need to see the Forrest through the trees, Smoke and mirrors, This Company has spent BILLIONS on Raw land which will be very negative cash flow for years,,,,,, Taxes, Liscences, Insurance, and INTEREST on loans
"off ballance sheet", "non consolidated entities", joint ventures,,,, excuses for the cost of doing business,,,, these properties will pay handsomely,,,,,,,,,,, 8 to 10 years from now,,,,, after the pain of carry and conversion,,,,,, and until the next upswing