we have remained focused on our pivot to a land lighter strategy . from controlling the timing of land purchases , to reducing our years-owned supply of homesites , to increasing the percentage of land controlled through options or agreements versus owned land , we are migrating towards a significantly smaller owned land inventory . at the beginning of 2019 , we set a two-year goal of increasing the homesites we control but do not own from 25 % to 40 % of our land needs . we made great progress on this front , and finished the year at 33 % . based on our progress , our new goal is to have 50 % of our land needs controlled versus owned by the end of fiscal 2021. we also believe that , based on our progress on reducing our years-owned supply of homesites from 4.4 years at the end of the third quarter to 4.1 years at the end of the fourth quarter , we can reduce our years-owned supply of homesites to 3 years by the end of fiscal 2021. while our most immediately impactful focus remains on our land spend and our inventory , we are also driving our asset-base lower as we continue to focus on monetizing non-core assets and business segments . our size and scale in each of our strategic markets continues to facilitate our management of costs even in labor constrained markets . our continued focus on technology and leveraging our size and scale is driving efficiencies that are reflected in our consistent improvement in sg & a and our bottom line . in the fourth quarter , our sg & a expense as a percentage of home sale revenues continued its downward trend with our lowest fourth quarter level ever at 7.6 % . in addition , through contributions from our technology initiatives in our financial services platform , we decreased loan origination costs and simplified our business process to improve customer experience , which in part drove the financial services segment 's record profit in the fourth quarter . technology , together with management focus , has enabled efficiency , a better customer experience and a much better bottom line . over the next two years we expect to see some of the same technology-based improvements that we used in our financial services platform affecting our core homebuilding operations , specifically in areas of customer acquisition costs , even flow production and inventory management . our backlog , combined with our current housing inventory , leads us to expect to close between 54,000 and 55,000 homes in fiscal 2020. although the price per home may decrease as we focus more on the entry level market , we expect our fiscal 2020 gross margins to remain consistent with fiscal 2019 as we increase our home sales pace while continuing to focus on reducing construction spend by keeping cost per square foot flat while average square footage is declining , leveraging field expenses over a greater number of deliveries and reducing interest expense . accordingly , we expect to generate strong cash flow in 2020 , that we can use to pay down debt and return capital to shareholders through our increased dividend and strategic share repurchases . with a solid balance sheet , leading market positions and continued execution of our core operating strategies , we believe we are well positioned for strong profitability and cash flow in 2020 . 22 results of operations overview our net earnings attributable to lennar were $ 1.8 billion , or $ 5.74 per diluted share ( $ 5.76 per basic share ) in 2019 and $ 1.7 billion , or $ 5.44 per diluted share ( $ 5.46 per basic share ) in 2018 . the following table sets forth financial and operational information for the years indicated related to our operations : replace_table_token_4_th effects of calatlantic acquisition for the year ended november 30 , 2018 , homebuilding revenue included $ 7.0 billion of revenues , and earnings before income taxes included $ 491.3 million of pre-tax earnings from calatlantic since the date of acquisition , which included acquisition and integration costs of $ 153.0 million . these acquisition and integration costs were comprised mainly of severance 23 expenses and transaction costs and were included within the acquisition and integration costs related to calatlantic line item in the consolidated statement of operations for the year ended november 30 , 2018 . 2019 versus 2018 in july 2019 , the fasb issued accounting standards update 2019-07 , “ codification updates to sec sections-amendments to sec paragraphs pursuant to sec final rule releases no . 33-10532 , disclosure update and simplification `` , which makes a number of changes meant to simplify certain disclosures in financial condition and results of operations , particularly by eliminating year-to-year comparisons between prior periods previously disclosed . in complying with the relevant aspects of the rule covering the current year annual report , we now include disclosures on results of operations for fiscal year 2019 versus 2018 only . for discussion of fiscal year 2018 vs 2017 see “ item 7. management 's discussion and analysis of financial condition and results of operations ” in our annual report filed with the sec for the fiscal year ended november 30 , 2018. revenues from home sales increased 9 % in the year ended november 30 , 2019 to $ 20.6 billion from $ 18.8 billion in the year ended november 30 , 2018 . revenues were higher primarily due to a 13 % increase in the number of home deliveries , excluding unconsolidated entities , partially offset by a 3 % decrease in the average sales price of homes delivered . story_separator_special_tag 30 homebuilding west : revenues from home sales increased in 2019 compared to 2018 , primarily due to an increase in the number of home deliveries in all the states in the segment , except colorado . the increase in revenues was partially offset by a decrease in the average sales price of homes delivered in arizona , california and oregon . the increase in the number of deliveries was primarily due to higher demand as the number of deliveries per active community increased . the decrease in the number of home deliveries in colorado was primarily due to a decrease in active communities and timing of opening and closing of communities . the decrease in the average sales price of homes delivered in arizona , california and oregon was primarily due to our continued focus on the entry-level market and , in general , moving down the price curve . gross margin percentage on home sales for the year ended november 30 , 2019 increased compared to the same period last year primarily due to purchase accounting adjustments on calatlantic homes that were in backlog/construction in progress when we acquired calatlantic , which reduced the gross margin percentage on those deliveries in 2018. financial services segment our financial services reportable segment primarily provides mortgage financing , title and closing services primarily for buyers of our homes , as well as property and casualty insurance . the segment also originates and sells into securitizations commercial mortgage loans through its rmf business . our financial services segment sells substantially all of the residential loans it originates within a short period in the secondary mortgage market , the majority of which are sold on a servicing released , non-recourse basis . after the loans are sold , we retain potential liability for possible claims by purchasers that we breached certain limited industry-standard representations and warranties in the loan sale agreements . the following table sets forth selected financial and operational information related to our financial services segment : replace_table_token_13_th rmf rmf originates and sells into securitizations five , seven and ten year commercial first mortgage loans , which are secured by income producing properties . this business has become a significant contributor to financial services ' revenues . during the year ended november 30 , 2019 , rmf originated loans with a total principal balance of $ 1.6 billion , all of which were recorded as loans held-for-sale , except $ 15.3 million which were recorded as accrual loans within loans receivables , net , and sold $ 1.4 billion of loans into 11 separate securitizations . during the year ended november 30 , 2018 , rmf originated loans with a principal balance of $ 1.4 billion all of which were recorded as loans held-for-sale and sold $ 1.5 billion of loans into 16 separate securitizations . as of november 30 , 2019 and 2018 , originated loans with an unpaid balance of $ 158.4 million and $ 218.4 million , respectively , were sold into a securitization trust but not settled and thus were included as receivables , net . multifamily segment we have been actively involved , primarily through unconsolidated entities , in the development , construction and property management of multifamily rental properties . our multifamily segment focuses on developing a geographically diversified portfolio of institutional quality multifamily rental properties in select u.s. markets . originally , our multifamily segment focused on building multifamily properties and selling them shortly after they were completed . however , more recently we have focused on creating and participating in ventures that build multifamily properties with the intention of retaining them after they are completed . as of november 30 , 2019 and 2018 , our balance sheet had $ 1.1 billion and $ 874.2 million , respectively , of assets related to our multifamily segment , which included investments in unconsolidated entities of $ 561.2 million and $ 481.1 million , respectively . our net investment in our multifamily segment as of november 30 , 2019 and 2018 was $ 829.5 million and $ 703.6 million , respectively . during the year ended november 30 , 2019 , our multifamily segment sold , through its unconsolidated entities , two operating properties and an investment in an operating property resulting in the segment 's $ 28.1 million share of gains . the gain of $ 11.9 million recognized on the sale of the investment in an operating property and 31 recognition of our share of deferred development fees that were capitalized at the joint venture level are included in multifamily equity in earnings ( loss ) from unconsolidated entities and other gain , and are not included in net earnings ( loss ) of unconsolidated entities . during the year ended november 30 , 2018 , our multifamily segment sold , through its unconsolidated entities six operating properties and an investment in an operating property resulting in the segment 's $ 61.2 million share of gains . the gain of $ 15.7 million recognized on the sale of the investment in an operating property and recognition of our share of deferred development fees that were capitalized at the joint venture level are included in multifamily equity in earnings from unconsolidated entities and other gain , and are not included in net earnings of unconsolidated entities . our multifamily segment had equity investments in 19 and 22 unconsolidated entities , including lmv i and lmv ii , as of november 30 , 2019 and 2018 , respectively . as of november 30 , 2019 , our multifamily segment had interests in 63 communities with development costs of $ 7.4 billion , of which 31 communities were completed and operating , six communities were partially completed and leasing , 20 communities were under construction and the remaining communities were owned by joint ventures . as of november 30 , 2019 , our multifamily segment also had a pipeline of potential future projects , which were

financial condition and capital resources at november 30 , 2019 , we had cash and cash equivalents and restricted cash related to our homebuilding , financial services , multifamily and other operations of $ 1.5 billion , compared to $ 1.6 billion at november 30 , 2018 . we finance all of our activities including homebuilding , financial services , multifamily , other and general operating needs primarily with cash generated from our operations , debt issuances and equity offerings as well as cash borrowed under our warehouse lines of credit and our unsecured revolving credit facility ( the `` credit facility '' ) . 32 operating cash flow activities during 2019 and 2018 , cash provided by operating activities totaled $ 1.5 billion and $ 1.7 billion , respectively . during 2019 , cash provided by operating activities was positively impacted by our net earnings and a decrease in receivables of $ 312.3 million , partially offset by an increase in inventories due to strategic land purchases , land development and construction costs of $ 623.6 million and an increase in financial services loans held-for-sale of $ 431.3 million . for the year ended november 30 , 2019 , distributions of earnings from unconsolidated entities were $ 12.8 million , which included ( 1 ) $ 8.5 million from multifamily unconsolidated entities , and ( 2 ) $ 4.3 million from homebuilding unconsolidated entities . during 2018 , cash provided by operating activities was positively impacted by our net earnings , an increase in accounts payable and other liabilities of $ 412.8 million , deferred income tax expense of $ 268.0 million and a decrease in loans held-for-sale of $ 5.8 million of which $ 153.3 million related to our lennar other segment , partially offset by an increase in loans held-for-sale of $ 147.5 million related to financial services . in addition , cash provided by operating activities was negatively impacted by an increase in other assets of $ 24.9 million , an increase in receivables of $ 431.2 million and an increase in inventories due to strategic land purchases , land development and construction costs of $ 135.9 million .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```financial condition and capital resources at november 30 , 2019 , we had cash and cash equivalents and restricted cash related to our homebuilding , financial services , multifamily and other operations of $ 1.5 billion , compared to $ 1.6 billion at november 30 , 2018 . we finance all of our activities including homebuilding , financial services , multifamily , other and general operating needs primarily with cash generated from our operations , debt issuances and equity offerings as well as cash borrowed under our warehouse lines of credit and our unsecured revolving credit facility ( the `` credit facility '' ) . 32 operating cash flow activities during 2019 and 2018 , cash provided by operating activities totaled $ 1.5 billion and $ 1.7 billion , respectively . during 2019 , cash provided by operating activities was positively impacted by our net earnings and a decrease in receivables of $ 312.3 million , partially offset by an increase in inventories due to strategic land purchases , land development and construction costs of $ 623.6 million and an increase in financial services loans held-for-sale of $ 431.3 million . for the year ended november 30 , 2019 , distributions of earnings from unconsolidated entities were $ 12.8 million , which included ( 1 ) $ 8.5 million from multifamily unconsolidated entities , and ( 2 ) $ 4.3 million from homebuilding unconsolidated entities . during 2018 , cash provided by operating activities was positively impacted by our net earnings , an increase in accounts payable and other liabilities of $ 412.8 million , deferred income tax expense of $ 268.0 million and a decrease in loans held-for-sale of $ 5.8 million of which $ 153.3 million related to our lennar other segment , partially offset by an increase in loans held-for-sale of $ 147.5 million related to financial services . in addition , cash provided by operating activities was negatively impacted by an increase in other assets of $ 24.9 million , an increase in receivables of $ 431.2 million and an increase in inventories due to strategic land purchases , land development and construction costs of $ 135.9 million .
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 Suspicious Activity Report : we have remained focused on our pivot to a land lighter strategy . from controlling the timing of land purchases , to reducing our years-owned supply of homesites , to increasing the percentage of land controlled through options or agreements versus owned land , we are migrating towards a significantly smaller owned land inventory . at the beginning of 2019 , we set a two-year goal of increasing the homesites we control but do not own from 25 % to 40 % of our land needs . we made great progress on this front , and finished the year at 33 % . based on our progress , our new goal is to have 50 % of our land needs controlled versus owned by the end of fiscal 2021. we also believe that , based on our progress on reducing our years-owned supply of homesites from 4.4 years at the end of the third quarter to 4.1 years at the end of the fourth quarter , we can reduce our years-owned supply of homesites to 3 years by the end of fiscal 2021. while our most immediately impactful focus remains on our land spend and our inventory , we are also driving our asset-base lower as we continue to focus on monetizing non-core assets and business segments . our size and scale in each of our strategic markets continues to facilitate our management of costs even in labor constrained markets . our continued focus on technology and leveraging our size and scale is driving efficiencies that are reflected in our consistent improvement in sg & a and our bottom line . in the fourth quarter , our sg & a expense as a percentage of home sale revenues continued its downward trend with our lowest fourth quarter level ever at 7.6 % . in addition , through contributions from our technology initiatives in our financial services platform , we decreased loan origination costs and simplified our business process to improve customer experience , which in part drove the financial services segment 's record profit in the fourth quarter . technology , together with management focus , has enabled efficiency , a better customer experience and a much better bottom line . over the next two years we expect to see some of the same technology-based improvements that we used in our financial services platform affecting our core homebuilding operations , specifically in areas of customer acquisition costs , even flow production and inventory management . our backlog , combined with our current housing inventory , leads us to expect to close between 54,000 and 55,000 homes in fiscal 2020. although the price per home may decrease as we focus more on the entry level market , we expect our fiscal 2020 gross margins to remain consistent with fiscal 2019 as we increase our home sales pace while continuing to focus on reducing construction spend by keeping cost per square foot flat while average square footage is declining , leveraging field expenses over a greater number of deliveries and reducing interest expense . accordingly , we expect to generate strong cash flow in 2020 , that we can use to pay down debt and return capital to shareholders through our increased dividend and strategic share repurchases . with a solid balance sheet , leading market positions and continued execution of our core operating strategies , we believe we are well positioned for strong profitability and cash flow in 2020 . 22 results of operations overview our net earnings attributable to lennar were $ 1.8 billion , or $ 5.74 per diluted share ( $ 5.76 per basic share ) in 2019 and $ 1.7 billion , or $ 5.44 per diluted share ( $ 5.46 per basic share ) in 2018 . the following table sets forth financial and operational information for the years indicated related to our operations : replace_table_token_4_th effects of calatlantic acquisition for the year ended november 30 , 2018 , homebuilding revenue included $ 7.0 billion of revenues , and earnings before income taxes included $ 491.3 million of pre-tax earnings from calatlantic since the date of acquisition , which included acquisition and integration costs of $ 153.0 million . these acquisition and integration costs were comprised mainly of severance 23 expenses and transaction costs and were included within the acquisition and integration costs related to calatlantic line item in the consolidated statement of operations for the year ended november 30 , 2018 . 2019 versus 2018 in july 2019 , the fasb issued accounting standards update 2019-07 , “ codification updates to sec sections-amendments to sec paragraphs pursuant to sec final rule releases no . 33-10532 , disclosure update and simplification `` , which makes a number of changes meant to simplify certain disclosures in financial condition and results of operations , particularly by eliminating year-to-year comparisons between prior periods previously disclosed . in complying with the relevant aspects of the rule covering the current year annual report , we now include disclosures on results of operations for fiscal year 2019 versus 2018 only . for discussion of fiscal year 2018 vs 2017 see “ item 7. management 's discussion and analysis of financial condition and results of operations ” in our annual report filed with the sec for the fiscal year ended november 30 , 2018. revenues from home sales increased 9 % in the year ended november 30 , 2019 to $ 20.6 billion from $ 18.8 billion in the year ended november 30 , 2018 . revenues were higher primarily due to a 13 % increase in the number of home deliveries , excluding unconsolidated entities , partially offset by a 3 % decrease in the average sales price of homes delivered . story_separator_special_tag 30 homebuilding west : revenues from home sales increased in 2019 compared to 2018 , primarily due to an increase in the number of home deliveries in all the states in the segment , except colorado . the increase in revenues was partially offset by a decrease in the average sales price of homes delivered in arizona , california and oregon . the increase in the number of deliveries was primarily due to higher demand as the number of deliveries per active community increased . the decrease in the number of home deliveries in colorado was primarily due to a decrease in active communities and timing of opening and closing of communities . the decrease in the average sales price of homes delivered in arizona , california and oregon was primarily due to our continued focus on the entry-level market and , in general , moving down the price curve . gross margin percentage on home sales for the year ended november 30 , 2019 increased compared to the same period last year primarily due to purchase accounting adjustments on calatlantic homes that were in backlog/construction in progress when we acquired calatlantic , which reduced the gross margin percentage on those deliveries in 2018. financial services segment our financial services reportable segment primarily provides mortgage financing , title and closing services primarily for buyers of our homes , as well as property and casualty insurance . the segment also originates and sells into securitizations commercial mortgage loans through its rmf business . our financial services segment sells substantially all of the residential loans it originates within a short period in the secondary mortgage market , the majority of which are sold on a servicing released , non-recourse basis . after the loans are sold , we retain potential liability for possible claims by purchasers that we breached certain limited industry-standard representations and warranties in the loan sale agreements . the following table sets forth selected financial and operational information related to our financial services segment : replace_table_token_13_th rmf rmf originates and sells into securitizations five , seven and ten year commercial first mortgage loans , which are secured by income producing properties . this business has become a significant contributor to financial services ' revenues . during the year ended november 30 , 2019 , rmf originated loans with a total principal balance of $ 1.6 billion , all of which were recorded as loans held-for-sale , except $ 15.3 million which were recorded as accrual loans within loans receivables , net , and sold $ 1.4 billion of loans into 11 separate securitizations . during the year ended november 30 , 2018 , rmf originated loans with a principal balance of $ 1.4 billion all of which were recorded as loans held-for-sale and sold $ 1.5 billion of loans into 16 separate securitizations . as of november 30 , 2019 and 2018 , originated loans with an unpaid balance of $ 158.4 million and $ 218.4 million , respectively , were sold into a securitization trust but not settled and thus were included as receivables , net . multifamily segment we have been actively involved , primarily through unconsolidated entities , in the development , construction and property management of multifamily rental properties . our multifamily segment focuses on developing a geographically diversified portfolio of institutional quality multifamily rental properties in select u.s. markets . originally , our multifamily segment focused on building multifamily properties and selling them shortly after they were completed . however , more recently we have focused on creating and participating in ventures that build multifamily properties with the intention of retaining them after they are completed . as of november 30 , 2019 and 2018 , our balance sheet had $ 1.1 billion and $ 874.2 million , respectively , of assets related to our multifamily segment , which included investments in unconsolidated entities of $ 561.2 million and $ 481.1 million , respectively . our net investment in our multifamily segment as of november 30 , 2019 and 2018 was $ 829.5 million and $ 703.6 million , respectively . during the year ended november 30 , 2019 , our multifamily segment sold , through its unconsolidated entities , two operating properties and an investment in an operating property resulting in the segment 's $ 28.1 million share of gains . the gain of $ 11.9 million recognized on the sale of the investment in an operating property and 31 recognition of our share of deferred development fees that were capitalized at the joint venture level are included in multifamily equity in earnings ( loss ) from unconsolidated entities and other gain , and are not included in net earnings ( loss ) of unconsolidated entities . during the year ended november 30 , 2018 , our multifamily segment sold , through its unconsolidated entities six operating properties and an investment in an operating property resulting in the segment 's $ 61.2 million share of gains . the gain of $ 15.7 million recognized on the sale of the investment in an operating property and recognition of our share of deferred development fees that were capitalized at the joint venture level are included in multifamily equity in earnings from unconsolidated entities and other gain , and are not included in net earnings of unconsolidated entities . our multifamily segment had equity investments in 19 and 22 unconsolidated entities , including lmv i and lmv ii , as of november 30 , 2019 and 2018 , respectively . as of november 30 , 2019 , our multifamily segment had interests in 63 communities with development costs of $ 7.4 billion , of which 31 communities were completed and operating , six communities were partially completed and leasing , 20 communities were under construction and the remaining communities were owned by joint ventures . as of november 30 , 2019 , our multifamily segment also had a pipeline of potential future projects , which were

