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Supplemental Guarantor Information (Tables) | 3 Months Ended
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Feb. 28, 2013
Guarantees [Abstract] |
Condensed Consolidated Statements of Operations | Condensed Consolidated Statements of Operations Three Months Ended February 28, 2013 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Revenues | $ | — |  |  | $ | 273,432 |  |  | $ | 131,787 |  |  | $ | — |  |  | $ | 405,219 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 273,432 |  |  | $ | 129,384 |  |  | $ | — |  |  | $ | 402,816 |
Construction and land costs | — |  |  | (231,720 | ) |  | (111,545 | ) |  | — |  |  | (343,265 | )
Selling, general and administrative expenses | (14,823 | ) |  | (26,894 | ) |  | (17,380 | ) |  | — |  |  | (59,097 | )
Operating income (loss) | (14,823 | ) |  | 14,818 |  |  | 459 |  |  | — |  |  | 454 |
Interest income | 201 |  |  | — |  |  | 3 |  |  | — |  |  | 204 |
Interest expense | 13,509 |  |  | (19,302 | ) |  | (9,447 | ) |  | — |  |  | (15,240 | )
Equity in income (loss) of unconsolidated joint ventures | — |  |  | (558 | ) |  | 123 |  |  | — |  |  | (435 | )
Homebuilding pretax loss | (1,113 | ) |  | (5,042 | ) |  | (8,862 | ) |  | — |  |  | (15,017 | )
Financial services pretax income | — |  |  | — |  |  | 2,659 |  |  | — |  |  | 2,659 |
Total pretax loss | (1,113 | ) |  | (5,042 | ) |  | (6,203 | ) |  | — |  |  | (12,358 | )
Income tax expense | — |  |  | — |  |  | (100 | ) |  | — |  |  | (100 | )
Equity in net loss of subsidiaries | (11,345 | ) |  | — |  |  | — |  |  | 11,345 |  |  | — |
Net loss | $ | (12,458 | ) |  | $ | (5,042 | ) |  | $ | (6,303 | ) |  | $ | 11,345 |  |  | $ | (12,458 | )
Three Months Ended February 29, 2012 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Revenues | $ | — |  |  | $ | 146,489 |  |  | $ | 108,069 |  |  | $ | — |  |  | $ | 254,558 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 146,489 |  |  | $ | 105,406 |  |  | $ | — |  |  | $ | 251,895 |
Construction and land costs | — |  |  | (137,099 | ) |  | (94,733 | ) |  | — |  |  | (231,832 | )
Selling, general and administrative expenses | (14,000 | ) |  | (19,055 | ) |  | (18,157 | ) |  | — |  |  | (51,212 | )
Operating loss | (14,000 | ) |  | (9,665 | ) |  | (7,484 | ) |  | — |  |  | (31,149 | )
Interest income | 125 |  |  | 1 |  |  | 9 |  |  | — |  |  | 135 |
Interest expense | 14,120 |  |  | (23,882 | ) |  | (6,524 | ) |  | — |  |  | (16,286 | )
Equity in loss of unconsolidated joint ventures | — |  |  | (51 | ) |  | (21 | ) |  | — |  |  | (72 | )
Homebuilding pretax income (loss) | 245 |  |  | (33,597 | ) |  | (14,020 | ) |  | — |  |  | (47,372 | )
Financial services pretax income | — |  |  | — |  |  | 1,970 |  |  | — |  |  | 1,970 |
Total pretax income (loss) | 245 |  |  | (33,597 | ) |  | (12,050 | ) |  | — |  |  | (45,402 | )
Income tax expense | — |  |  | (300 | ) |  | (100 | ) |  | — |  |  | (400 | )
Equity in net loss of subsidiaries | (46,047 | ) |  | — |  |  | — |  |  | 46,047 |  |  | — |
Net loss | $ | (45,802 | ) |  | $ | (33,897 | ) |  | $ | (12,150 | ) |  | $ | 46,047 |  |  | $ | (45,802 | )
Condensed Consolidated Balance Sheets | Condensed Consolidated Balance Sheets February 28, 2013 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Assets |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 554,547 |  |  | $ | 28,625 |  |  | $ | 40,872 |  |  | $ | — |  |  | $ | 624,044 |
Restricted cash | 44,619 |  |  | — |  |  | — |  |  | — |  |  | 44,619 |
Receivables | 91 |  |  | 50,839 |  |  | 14,700 |  |  | — |  |  | 65,630 |
Inventories | — |  |  | 1,132,565 |  |  | 805,209 |  |  | — |  |  | 1,937,774 |
Investments in unconsolidated joint ventures | — |  |  | 109,102 |  |  | 14,108 |  |  | — |  |  | 123,210 |
Other assets | 93,196 |  |  | 7,075 |  |  | 2,307 |  |  | — |  |  | 102,578 |
| 692,453 |  |  | 1,328,206 |  |  | 877,196 |  |  | — |  |  | 2,897,855 |
Financial services | — |  |  | — |  |  | 2,782 |  |  | — |  |  | 2,782 |
Investments in subsidiaries | (2,947 | ) |  | — |  |  | — |  |  | 2,947 |  |  | — |
Total assets | $ | 689,506 |  |  | $ | 1,328,206 |  |  | $ | 879,978 |  |  | $ | 2,947 |  |  | $ | 2,900,637 |
Liabilities and stockholders’ equity |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 142,672 |  |  | $ | 139,150 |  |  | $ | 179,633 |  |  | $ | — |  |  | $ | 461,455 |
Mortgages and notes payable | 1,875,735 |  |  | 63,918 |  |  | 24,100 |  |  | — |  |  | 1,963,753 |
| 2,018,407 |  |  | 203,068 |  |  | 203,733 |  |  | — |  |  | 2,425,208 |
Financial services | — |  |  | — |  |  | 2,294 |  |  | — |  |  | 2,294 |
Intercompany | (1,802,036 | ) |  | 1,130,180 |  |  | 671,856 |  |  | — |  |  | — |
Stockholders’ equity | 473,135 |  |  | (5,042 | ) |  | 2,095 |  |  | 2,947 |  |  | 473,135 |
Total liabilities and stockholders’ equity | $ | 689,506 |  |  | $ | 1,328,206 |  |  | $ | 879,978 |  |  | $ | 2,947 |  |  | $ | 2,900,637 |
November 30, 2012 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Assets |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 457,007 |  |  | $ | 22,642 |  |  | $ | 45,116 |  |  | $ | — |  |  | $ | 524,765 |
Restricted cash | 42,362 |  |  | — |  |  | — |  |  | — |  |  | 42,362 |
Receivables | 121 |  |  | 49,518 |  |  | 15,182 |  |  | — |  |  | 64,821 |
Inventories | — |  |  | 1,075,011 |  |  | 631,560 |  |  | — |  |  | 1,706,571 |
Investments in unconsolidated joint ventures | — |  |  | 109,346 |  |  | 14,328 |  |  | — |  |  | 123,674 |
Other assets | 85,901 |  |  | 7,491 |  |  | 1,658 |  |  | — |  |  | 95,050 |
| 585,391 |  |  | 1,264,008 |  |  | 707,844 |  |  | — |  |  | 2,557,243 |
Financial services | — |  |  | — |  |  | 4,455 |  |  | — |  |  | 4,455 |
Investments in subsidiaries | 11,411 |  |  | — |  |  | — |  |  | (11,411 | ) |  | — |
Total assets | $ | 596,802 |  |  | $ | 1,264,008 |  |  | $ | 712,299 |  |  | $ | (11,411 | ) |  | $ | 2,561,698 |
Liabilities and stockholders’ equity |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 134,314 |  |  | $ | 147,563 |  |  | $ | 177,012 |  |  | $ | — |  |  | $ | 458,889 |
Mortgages and notes payable | 1,645,394 |  |  | 69,596 |  |  | 7,825 |  |  | — |  |  | 1,722,815 |
| 1,779,708 |  |  | 217,159 |  |  | 184,837 |  |  | — |  |  | 2,181,704 |
Financial services | — |  |  | — |  |  | 3,188 |  |  | — |  |  | 3,188 |
Intercompany | (1,559,712 | ) |  | 1,046,849 |  |  | 512,863 |  |  | — |  |  | — |
Stockholders’ equity | 376,806 |  |  | — |  |  | 11,411 |  |  | (11,411 | ) |  | 376,806 |
Total liabilities and stockholders’ equity | $ | 596,802 |  |  | $ | 1,264,008 |  |  | $ | 712,299 |  |  | $ | (11,411 | ) |  | $ | 2,561,698 |
Condensed Consolidated Statements of Cash Flows | Condensed Consolidated Statements of Cash Flows Three Months Ended February 28, 2013 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net loss | $ | (12,458 | ) |  | $ | (5,042 | ) |  | $ | (6,303 | ) |  | $ | 11,345 |  |  | $ | (12,458 | )
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |  |  |  |  |
Equity in (income) loss of unconsolidated joint ventures | — |  |  | 558 |  |  | (1,214 | ) |  | — |  |  | (656 | )
Changes in assets and liabilities: |  |  |  |  |  |  |  |  |
Receivables | 30 |  |  | (1,321 | ) |  | 1,617 |  |  | — |  |  | 326 |
Inventories | — |  |  | (57,554 | ) |  | (141,207 | ) |  | — |  |  | (198,761 | )
Accounts payable, accrued expenses and other liabilities | 8,010 |  |  | (8,413 | ) |  | (2,010 | ) |  | — |  |  | (2,413 | )
Other, net | 1,281 |  |  | 540 |  |  | 1,109 |  |  | — |  |  | 2,930 |
Net cash used in operating activities | (3,137 | ) |  | (71,232 | ) |  | (148,008 | ) |  | 11,345 |  |  | (211,032 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Return of investments in (contributions to) unconsolidated joint ventures | — |  |  | (314 | ) |  | 10 |  |  | — |  |  | (304 | )
Purchases of property and equipment, net | (96 | ) |  | (129 | ) |  | (205 | ) |  | — |  |  | (430 | )
Net cash used in investing activities | (96 | ) |  | (443 | ) |  | (195 | ) |  | — |  |  | (734 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Change in restricted cash | (2,257 | ) |  | — |  |  | — |  |  | — |  |  | (2,257 | )
Proceeds from issuance of debt | 230,000 |  |  | — |  |  | — |  |  | — |  |  | 230,000 |
Payment of debt issuance costs | (6,878 | ) |  | — |  |  | — |  |  | — |  |  | (6,878 | )
Payments on mortgages and land contracts due to land sellers and other loans | — |  |  | (5,678 | ) |  | (11,325 | ) |  | — |  |  | (17,003 | )
Proceeds from issuance of common stock, net | 109,811 |  |  | — |  |  | — |  |  | — |  |  | 109,811 |
Issuance of common stock under employee stock plans | 52 |  |  | — |  |  | — |  |  | — |  |  | 52 |
Payments of cash dividends | (2,089 | ) |  | — |  |  | — |  |  | — |  |  | (2,089 | )
Intercompany | (227,866 | ) |  | 83,336 |  |  | 155,875 |  |  | (11,345 | ) |  | — |
Net cash provided by financing activities | 100,773 |  |  | 77,658 |  |  | 144,550 |  |  | (11,345 | ) |  | 311,636 |
Net increase (decrease) in cash and cash equivalents | 97,540 |  |  | 5,983 |  |  | (3,653 | ) |  | — |  |  | 99,870 |
Cash and cash equivalents at beginning of period | 457,007 |  |  | 22,642 |  |  | 46,039 |  |  | — |  |  | 525,688 |
Cash and cash equivalents at end of period | $ | 554,547 |  |  | $ | 28,625 |  |  | $ | 42,386 |  |  | $ | — |  |  | $ | 625,558 |
Three Months Ended February 29, 2012 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Cash flows from operating activities: |  |  |  |  |  |  |  |  |
Net loss | $ | (45,802 | ) |  | $ | (33,897 | ) |  | $ | (12,150 | ) |  | $ | 46,047 |  |  | $ | (45,802 | )
Adjustments to reconcile net loss to net cash used in operating activities: |  |  |  |  |  |  |  |  |
Equity in (income) loss of unconsolidated joint ventures | — |  |  | 51 |  |  | (121 | ) |  | — |  |  | (70 | )
Inventory impairments | — |  |  | 6,572 |  |  | — |  |  | — |  |  | 6,572 |
Changes in assets and liabilities: |  |  |  |  |  |  |  |  |
Receivables | (19 | ) |  | (2,119 | ) |  | 20,431 |  |  | — |  |  | 18,293 |
Inventories | — |  |  | (12,997 | ) |  | (12,859 | ) |  | — |  |  | (25,856 | )
Accounts payable, accrued expenses and other liabilities | (9,889 | ) |  | (31,936 | ) |  | (18,796 | ) |  | — |  |  | (60,621 | )
Other, net | (5,390 | ) |  | 189 |  |  | 3,101 |  |  | — |  |  | (2,100 | )
Net cash used in operating activities | (61,100 | ) |  | (74,137 | ) |  | (20,394 | ) |  | 46,047 |  |  | (109,584 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Return of investments in (contributions to) unconsolidated joint ventures | — |  |  | 6,549 |  |  | (2 | ) |  | — |  |  | 6,547 |
Purchases of property and equipment, net | (21 | ) |  | (149 | ) |  | (259 | ) |  | — |  |  | (429 | )
Net cash provided by (used in) investing activities | (21 | ) |  | 6,400 |  |  | (261 | ) |  | — |  |  | 6,118 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Change in restricted cash | 591 |  |  | — |  |  | — |  |  | — |  |  | 591 |
Proceeds from issuance of debt | 344,831 |  |  | — |  |  | — |  |  | — |  |  | 344,831 |
Payment of debt issuance costs | (5,816 | ) |  | — |  |  | — |  |  | — |  |  | (5,816 | )
Repayment of senior notes | (340,481 | ) |  | — |  |  | — |  |  | — |  |  | (340,481 | )
Payments on mortgages and land contracts due to land sellers and other loans | — |  |  | (1,644 | ) |  | (71 | ) |  | — |  |  | (1,715 | )
Issuance of common stock under employee stock plans | 175 |  |  | — |  |  | — |  |  | — |  |  | 175 |
Payments of cash dividends | (4,818 | ) |  | — |  |  | — |  |  | — |  |  | (4,818 | )
Intercompany | (14,899 | ) |  | 60,890 |  |  | 56 |  |  | (46,047 | ) |  | — |
Net cash provided by (used in) financing activities | (20,417 | ) |  | 59,246 |  |  | (15 | ) |  | (46,047 | ) |  | (7,233 | )
Net decrease in cash and cash equivalents | (81,538 | ) |  | (8,491 | ) |  | (20,670 | ) |  | — |  |  | (110,699 | )
Cash and cash equivalents at beginning of period | 340,957 |  |  | 32,876 |  |  | 44,241 |  |  | — |  |  | 418,074 |
Cash and cash equivalents at end of period | $ | 259,419 |  |  | $ | 24,385 |  |  | $ | 23,571 |  |  | $ | — |  |  | $ | 307,375 |

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