XML 87 R38.htm IDEA: XBRL DOCUMENT

Supplemental Guarantor Information (Tables)

6 Months Ended

May 31, 2012

Supplemental Guarantor Information [Abstract]

Condensed Consolidated Statements of Operations


		KB Home Corporate				Guarantor Subsidiaries				Non-Guarantor Subsidiaries				Consolidating Adjustments				Total
Revenues		$	—			$	322,432			$	234,978			$	—			$	557,410

Homebuilding:
Revenues		$	—			$	322,432			$	230,068			$	—			$	552,500
Construction and land costs			—				(278,469	)			(198,558	)			—				(477,027	)
Selling, general and administrative expenses			(28,934	)			(51,428	)			(41,796	)			—				(122,158	)

Operating loss			(28,934	)			(7,465	)			(10,286	)			—				(46,685	)
Interest income			225				4				17				—				246
Interest expense			30,930				(47,517	)			(14,168	)			—				(30,755	)
Equity in loss of unconsolidated joint ventures			—				(292	)			(23	)			—				(315	)

Homebuilding pretax income (loss)			2,221				(55,270	)			(24,460	)			—				(77,509	)

Financial services pretax income			—				—				3,471				—				3,471

Total pretax income (loss)			2,221				(55,270	)			(20,989	)			—				(74,038	)
Income tax benefit (expense)			(100	)			3,100				1,100				—				4,100
Equity in net loss of subsidiaries			(72,059	)			—				—				72,059				—

Net loss		$	(69,938	)		$	(52,170	)		$	(19,889	)		$	72,059			$	(69,938	)

		KB Home Corporate				Guarantor Subsidiaries				Non-Guarantor Subsidiaries				Consolidating Adjustments				Total
Revenues		$	—			$	131,894			$	336,784			$	—			$	468,678

Homebuilding:
Revenues		$	—			$	131,894			$	333,390			$	—			$	465,284
Construction and land costs			—				(114,128	)			(307,049	)			—				(421,177	)
Selling, general and administrative expenses			(33,839	)			(9,935	)			(68,351	)			—				(112,125	)
Loss on loan guaranty			—				—				(37,330	)			—				(37,330	)

Operating income (loss)			(33,839	)			7,831				(79,340	)			—				(105,348	)
Interest income			534				4				115				—				653
Interest expense			23,779				(21,392	)			(26,947	)			—				(24,560	)
Equity in loss of unconsolidated joint ventures			—				(72	)			(55,857	)			—				(55,929	)

Homebuilding pretax loss			(9,526	)			(13,629	)			(162,029	)			—				(185,184	)

Financial services pretax income			—				—				2,254				—				2,254

Total pretax loss			(9,526	)			(13,629	)			(159,775	)			—				(182,930	)
Income tax expense			—				—				(100	)			—				(100	)
Equity in net loss of subsidiaries			(173,504	)			—				—				173,504				—

Net loss		$	(183,030	)		$	(13,629	)		$	(159,875	)		$	173,504			$	(183,030	)

		KB Home Corporate				Guarantor Subsidiaries				Non-Guarantor Subsidiaries				Consolidating Adjustments				Total
Revenues		$	—			$	175,943			$	126,909			$	—			$	302,852

Homebuilding:
Revenues		$	—			$	175,943			$	124,662			$	—			$	300,605
Construction and land costs			—				(143,487	)			(106,182	)			—				(249,669	)
Selling, general and administrative expenses			(14,934	)			(30,257	)			(21,281	)			—				(66,472	)

Operating income (loss)			(14,934	)			2,199				(2,801	)			—				(15,536	)
Interest income			100				3				8				—				111
Interest expense			16,810				(23,634	)			(7,645	)			—				(14,469	)
Equity in loss of unconsolidated joint ventures			—				(241	)			(2	)			—				(243	)

Homebuilding pretax income (loss)			1,976				(21,673	)			(10,440	)			—				(30,137	)

Financial services pretax income			—				—				1,501				—				1,501

Total pretax income (loss)			1,976				(21,673	)			(8,939	)			—				(28,636	)
Income tax benefit (expense)			(200	)			3,400				1,300				—				4,500
Equity in net loss of subsidiaries			(25,912	)			—				—				25,912				—

Net loss		$	(24,136	)		$	(18,273	)		$	(7,639	)		$	25,912			$	(24,136	)

		KB Home Corporate				Guarantor Subsidiaries				Non-Guarantor Subsidiaries				Consolidating Adjustments				Total
Revenues		$	—			$	82,687			$	189,051			$	—			$	271,738

Homebuilding:
Revenues		$	—			$	82,687			$	187,296			$	—			$	269,983
Construction and land costs			—				(67,551	)			(182,830	)			—				(250,381	)
Selling, general and administrative expenses			(15,169	)			(11,060	)			(36,291	)			—				(62,520	)
Loss on loan guaranty			—				—				(14,572	)			—				(14,572	)

Operating income (loss)			(15,169	)			4,076				(46,397	)			—				(57,490	)
Interest income			221				—				49				—				270
Interest expense			13,929				(13,085	)			(13,965	)			—				(13,121	)
Equity in loss of unconsolidated joint ventures			—				(29	)			(63	)			—				(92	)

Homebuilding pretax loss			(1,019	)			(9,038	)			(60,376	)			—				(70,433	)

Financial services pretax income			—				—				1,629				—				1,629

Total pretax loss			(1,019	)			(9,038	)			(58,747	)			—				(68,804	)
Income tax expense			—				100				200				—				300
Equity in net loss of subsidiaries			(67,485	)			—				—				67,485				—

Net loss		$	(68,504	)		$	(8,938	)		$	(58,547	)		$	67,485			$	(68,504	)

Condensed Consolidated Balance Sheets

		KB Home Corporate				Guarantor Subsidiaries				Non-Guarantor Subsidiaries				Consolidating Adjustments				Total
Assets
Homebuilding:
Cash and cash equivalents		$	273,312			$	17,847			$	23,099			$	—			$	314,258
Restricted cash			63,182				—				—				—				63,182
Receivables			899				29,891				43,238				—				74,028
Inventories			—				1,229,731				497,909				—				1,727,640
Investments in unconsolidated joint ventures			—				107,090				14,318				—				121,408
Other assets			76,609				846				7,742				—				85,197

			414,002				1,385,405				586,306				—				2,385,713

Financial services			—				—				8,292				—				8,292
Investments in subsidiaries			12,710				—				—				(12,710	)			—

Total assets		$	426,712			$	1,385,405			$	594,598			$	(12,710	)		$	2,394,005

Liabilities and stockholders’ equity
Homebuilding:
Accounts payable, accrued expenses and other liabilities		$	118,224			$	154,853			$	163,108			$	—			$	436,185
Mortgages and notes payable			1,539,389				39,348				4,051				—				1,582,788

			1,657,613				194,201				167,159				—				2,018,973
Financial services			—				—				5,501				—				5,501
Intercompany			(1,600,432	)			1,191,204				409,228				—				—
Stockholders’ equity			369,531				—				12,710				(12,710	)			369,531

Total liabilities and stockholders’ equity		$	426,712			$	1,385,405			$	594,598			$	(12,710	)		$	2,394,005

		KB Home Corporate				Guarantor Subsidiaries				Non-Guarantor Subsidiaries				Consolidating Adjustments				Total
Assets
Homebuilding:
Cash and cash equivalents		$	340,957			$	32,876			$	41,217			$	—			$	415,050
Restricted cash			64,475				6				—				—				64,481
Receivables			801				29,250				36,128				—				66,179
Inventories			—				1,256,468				475,161				—				1,731,629
Investments in unconsolidated joint ventures			—				113,921				14,005				—				127,926
Other assets			67,059				730				7,315				—				75,104

			473,292				1,433,251				573,826				—				2,480,369
Financial services			—				—				32,173				—				32,173
Investments in subsidiaries			34,235				—				—				(34,235	)			—

Total assets		$	507,527			$	1,433,251			$	605,999			$	(34,235	)		$	2,512,542

Liabilities and stockholders’ equity
Homebuilding:
Accounts payable, accrued expenses and other liabilities		$	121,572			$	181,835			$	175,413			$	—			$	478,820
Mortgages and notes payable			1,533,477				45,925				4,169				—				1,583,571

			1,655,049				227,760				179,582				—				2,062,391
Financial services			—				—				7,494				—				7,494
Intercompany			(1,590,179	)			1,205,491				384,688				—				—
Stockholders’ equity			442,657				—				34,235				(34,235	)			442,657

Total liabilities and stockholders’ equity		$	507,527			$	1,433,251			$	605,999			$	(34,235	)		$	2,512,542

Condensed Consolidated Statements of Cash Flows


		KB Home Corporate				Guarantor Subsidiaries				Non-Guarantor Subsidiaries				Consolidating Adjustments				Total
Cash flows from operating activities:
Net loss		$	(69,938	)		$	(52,170	)		$	(19,889	)		$	72,059			$	(69,938	)
Adjustments to reconcile net loss to net cash used in operating activities:
Equity in (income) loss of unconsolidated joint ventures			—				292				(66	)			—				226
Inventory impairments and land option contract abandonments			—				8,362				8,147				—				16,509
Changes in assets and liabilities:
Receivables			(98	)			(641	)			17,534				—				16,795
Inventories			—				14,765				(30,896	)			—				(16,131	)
Accounts payable, accrued expenses and other liabilities			(4,198	)			(21,719	)			(14,297	)			—				(40,214	)
Other, net			(499	)			181				3,190				—				2,872

Net cash used in operating activities			(74,733	)			(50,930	)			(36,277	)			72,059				(89,881	)

Cash flows from investing activities:
Return of investment in (contributions to) unconsolidated joint ventures			—				4,886				(336	)			—				4,550
Purchases of property and equipment, net			(53	)			(297	)			(242	)			—				(592	)

Net cash provided by (used in) investing activities			(53	)			4,589				(578	)			—				3,958

Cash flows from financing activities:
Change in restricted cash			1,293				6				—				—				1,299
Proceeds from issuance of senior notes			344,831				—				—				—				344,831
Payment of senior notes issuance costs			(6,751	)			—				—				—				(6,751	)
Repayment of senior notes			(340,481	)			—				—				—				(340,481	)
Payments on mortgages and land contracts due to land sellers and other loans			—				(6,577	)			(118	)			—				(6,695	)
Issuance of common stock under employee stock plans			353				—				—				—				353
Payments of cash dividends			(6,746	)			—				—				—				(6,746	)
Intercompany			14,642				37,883				19,534				(72,059	)			—

Net cash provided by (used in) financing activities			7,141				31,312				19,416				(72,059	)			(14,190	)

Net decrease in cash and cash equivalents			(67,645	)			(15,029	)			(17,439	)			—				(100,113	)
Cash and cash equivalents at beginning of period			340,957				32,876				44,241				—				418,074

Cash and cash equivalents at end of period		$	273,312			$	17,847			$	26,802			$	—			$	317,961


		KB Home Corporate				Guarantor Subsidiaries				Non-Guarantor Subsidiaries				Consolidating Adjustments				Total
Cash flows from operating activities:
Net loss		$	(183,030	)		$	(13,629	)		$	(159,875	)		$	173,504			$	(183,030	)
Adjustments to reconcile net loss to net cash used in operating activities:
Equity in loss of unconsolidated joint ventures			—				72				55,345				—				55,417
Loss on loan guaranty			—				—				37,330				—				37,330
Gain on sale of operating property			—				(8,825	)			—				—				(8,825	)
Inventory impairments and land option contract abandonments			—				663				21,682				—				22,345
Changes in assets and liabilities:
Receivables			340				(3,740	)			1,957				—				(1,443	)
Inventories			—				(60,612	)			(107,180	)			—				(167,792	)
Accounts payable, accrued expenses and other liabilities			4,374				(13,431	)			(19,023	)			—				(28,080	)
Other, net			(512	)			(3,007	)			6,273				—				2,754

Net cash used in operating activities			(178,828	)			(102,509	)			(163,491	)			173,504				(271,324	)

Cash flows from investing activities:
Contributions to unconsolidated joint ventures			—				(1,388	)			(531	)			—				(1,919	)
Proceeds from sale of operating property			—				80,600				—				—				80,600
Sales (purchases) of property and equipment, net			(289	)			(14	)			195				—				(108	)

Net cash provided by (used in) investing activities			(289	)			79,198				(336	)			—				78,573

Cash flows from financing activities:
Change in restricted cash			1,514				—				—				—				1,514
Payments on mortgages and land contracts due to land sellers and other loans			—				(79,471	)			(1,355	)			—				(80,826	)
Issuance of common stock under employee stock plans			442				—				—				—				442
Payments of cash dividends			(9,613	)			—				—				—				(9,613	)
Intercompany			(92,445	)			106,687				159,262				(173,504	)			—

Net cash provided by (used in) financing activities			(100,102	)			27,216				157,907				(173,504	)			(88,483	)

Net increase (decrease) in cash and cash equivalents			(279,219	)			3,905				(5,920	)			—				(281,234	)
Cash and cash equivalents at beginning of period			770,603				3,619				134,208				—				908,430

Cash and cash equivalents at end of period		$	491,384			$	7,524			$	128,288			$	—			$	627,196