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Supplemental Guarantor Information (Tables) | 3 Months Ended
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Feb. 28, 2014
Guarantees [Abstract] |
Condensed Consolidated Statements of Operations | Condensed Consolidating Statement of Operations Three Months Ended February 28, 2014 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Revenues | $ | — |  |  | $ | 435,849 |  |  | $ | 14,838 |  |  | $ | — |  |  | $ | 450,687 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 435,849 |  |  | $ | 12,418 |  |  | $ | — |  |  | $ | 448,267 |
Construction and land costs | — |  |  | (358,092 | ) |  | (11,182 | ) |  | — |  |  | (369,274 | )
Selling, general and administrative expenses | (15,744 | ) |  | (41,972 | ) |  | (3,558 | ) |  | — |  |  | (61,274 | )
Operating income (loss) | (15,744 | ) |  | 35,785 |  |  | (2,322 | ) |  | — |  |  | 17,719 |
Interest income | 167 |  |  | 1 |  |  | — |  |  | — |  |  | 168 |
Interest expense | (38,008 | ) |  | (1,272 | ) |  | — |  |  | 28,004 |  |  | (11,276 | )
Intercompany interest | 59,722 |  |  | (32,096 | ) |  | 378 |  |  | (28,004 | ) |  | — |
Equity in income of unconsolidated joint ventures | — |  |  | 2,590 |  |  | — |  |  | — |  |  | 2,590 |
Homebuilding pretax income (loss) | 6,137 |  |  | 5,008 |  |  | (1,944 | ) |  | — |  |  | 9,201 |
Financial services pretax income | — |  |  | — |  |  | 1,562 |  |  | — |  |  | 1,562 |
Total pretax income (loss) | 6,137 |  |  | 5,008 |  |  | (382 | ) |  | — |  |  | 10,763 |
Income tax expense | (100 | ) |  | (100 | ) |  | — |  |  | — |  |  | (200 | )
Equity in net income of subsidiaries | 4,526 |  |  | — |  |  | — |  |  | (4,526 | ) |  | — |
Net income (loss) | $ | 10,563 |  |  | $ | 4,908 |  |  | $ | (382 | ) |  | $ | (4,526 | ) |  | $ | 10,563 |
Condensed Consolidating Statement of Operations Three Months Ended February 28, 2013 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Revenues | $ | — |  |  | $ | 393,228 |  |  | $ | 11,991 |  |  | $ | — |  |  | $ | 405,219 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 393,228 |  |  | $ | 9,588 |  |  | $ | — |  |  | $ | 402,816 |
Construction and land costs | — |  |  | (334,498 | ) |  | (8,767 | ) |  | — |  |  | (343,265 | )
Selling, general and administrative expenses | (14,823 | ) |  | (40,809 | ) |  | (3,465 | ) |  | — |  |  | (59,097 | )
Operating income (loss) | (14,823 | ) |  | 17,921 |  |  | (2,644 | ) |  | — |  |  | 454 |
Interest income | 201 |  |  | 1 |  |  | 2 |  |  | — |  |  | 204 |
Interest expense | (31,847 | ) |  | (1,575 | ) |  | — |  |  | 18,182 |  |  | (15,240 | )
Intercompany interest | 45,356 |  |  | (28,134 | ) |  | 960 |  |  | (18,182 | ) |  | — |
Equity in loss of unconsolidated joint ventures | — |  |  | (435 | ) |  | — |  |  | — |  |  | (435 | )
Homebuilding pretax loss | (1,113 | ) |  | (12,222 | ) |  | (1,682 | ) |  | — |  |  | (15,017 | )
Financial services pretax income | — |  |  | — |  |  | 2,659 |  |  | — |  |  | 2,659 |
Total pretax income (loss) | (1,113 | ) |  | (12,222 | ) |  | 977 |  |  | — |  |  | (12,358 | )
Income tax expense | — |  |  | (100 | ) |  | — |  |  | — |  |  | (100 | )
Equity in net loss of subsidiaries | (11,345 | ) |  | — |  |  | — |  |  | 11,345 |  |  | — |
Net income (loss) | $ | (12,458 | ) |  | $ | (12,322 | ) |  | $ | 977 |  |  | $ | 11,345 |  |  | $ | (12,458 | )
Condensed Consolidated Balance Sheets | Condensed Consolidating Balance Sheet February 28, 2014 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Assets |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 234,234 |  |  | $ | 61,043 |  |  | $ | 7,992 |  |  | $ | — |  |  | $ | 303,269 |
Restricted cash | 42,083 |  |  | — |  |  | — |  |  | — |  |  | 42,083 |
Receivables | 1,446 |  |  | 85,659 |  |  | 250 |  |  | — |  |  | 87,355 |
Inventories | — |  |  | 2,600,119 |  |  | 34,825 |  |  | — |  |  | 2,634,944 |
Investments in unconsolidated joint ventures | — |  |  | 60,648 |  |  | — |  |  | — |  |  | 60,648 |
Other assets | 97,477 |  |  | 11,574 |  |  | 1,436 |  |  | — |  |  | 110,487 |
| 375,240 |  |  | 2,819,043 |  |  | 44,503 |  |  | — |  |  | 3,238,786 |
Financial services | — |  |  | — |  |  | 9,386 |  |  | — |  |  | 9,386 |
Intercompany receivables | 2,397,174 |  |  | — |  |  | 113,059 |  |  | (2,510,233 | ) |  | — |
Investments in subsidiaries | 42,004 |  |  | — |  |  | — |  |  | (42,004 | ) |  | — |
Total assets | $ | 2,814,418 |  |  | $ | 2,819,043 |  |  | $ | 166,948 |  |  | $ | (2,552,237 | ) |  | $ | 3,248,172 |
Liabilities and stockholders’ equity |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 134,679 |  |  | $ | 295,212 |  |  | $ | 94,407 |  |  | $ | — |  |  | $ | 524,298 |
Mortgages and notes payable | 2,112,110 |  |  | 63,080 |  |  | — |  |  | — |  |  | 2,175,190 |
| 2,246,789 |  |  | 358,292 |  |  | 94,407 |  |  | — |  |  | 2,699,488 |
Financial services | — |  |  | — |  |  | 2,350 |  |  | — |  |  | 2,350 |
Intercompany payables | 21,295 |  |  | 2,455,743 |  |  | 33,195 |  |  | (2,510,233 | ) |  | — |
Stockholders’ equity | 546,334 |  |  | 5,008 |  |  | 36,996 |  |  | (42,004 | ) |  | 546,334 |
Total liabilities and stockholders’ equity | $ | 2,814,418 |  |  | $ | 2,819,043 |  |  | $ | 166,948 |  |  | $ | (2,552,237 | ) |  | $ | 3,248,172 |
Condensed Consolidating Balance Sheet November 30, 2013 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Assets |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 476,847 |  |  | $ | 41,316 |  |  | $ | 11,932 |  |  | $ | — |  |  | $ | 530,095 |
Restricted cash | 41,906 |  |  | — |  |  | — |  |  | — |  |  | 41,906 |
Receivables | 1,472 |  |  | 74,186 |  |  | 91 |  |  | — |  |  | 75,749 |
Inventories | — |  |  | 2,263,034 |  |  | 35,543 |  |  | — |  |  | 2,298,577 |
Investments in unconsolidated joint ventures | — |  |  | 130,192 |  |  | — |  |  | — |  |  | 130,192 |
Other assets | 97,647 |  |  | 9,072 |  |  | 357 |  |  | — |  |  | 107,076 |
| 617,872 |  |  | 2,517,800 |  |  | 47,923 |  |  | — |  |  | 3,183,595 |
Financial services | — |  |  | — |  |  | 10,040 |  |  | — |  |  | 10,040 |
Intercompany receivables | 2,129,729 |  |  | — |  |  | 117,829 |  |  | (2,247,558 | ) |  | — |
Investments in subsidiaries | 39,955 |  |  | — |  |  | — |  |  | (39,955 | ) |  | — |
Total assets | $ | 2,787,556 |  |  | $ | 2,517,800 |  |  | $ | 175,792 |  |  | $ | (2,287,513 | ) |  | $ | 3,193,635 |
Liabilities and stockholders’ equity |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 117,875 |  |  | $ | 292,220 |  |  | $ | 94,363 |  |  | $ | — |  |  | $ | 504,458 |
Mortgages and notes payable | 2,111,773 |  |  | 38,725 |  |  | — |  |  | — |  |  | 2,150,498 |
| 2,229,648 |  |  | 330,945 |  |  | 94,363 |  |  | — |  |  | 2,654,956 |
Financial services | — |  |  | — |  |  | 2,593 |  |  | — |  |  | 2,593 |
Intercompany payables | 21,822 |  |  | 2,186,855 |  |  | 38,881 |  |  | (2,247,558 | ) |  | — |
Stockholders’ equity | 536,086 |  |  | — |  |  | 39,955 |  |  | (39,955 | ) |  | 536,086 |
Total liabilities and stockholders’ equity | $ | 2,787,556 |  |  | $ | 2,517,800 |  |  | $ | 175,792 |  |  | $ | (2,287,513 | ) |  | $ | 3,193,635 |
Condensed Consolidated Statements of Cash Flows | Condensed Consolidating Statement of Cash Flows Three Months Ended February 28, 2014 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net cash provided by (used in) operating activities | $ | 25,225 |  |  | $ | (238,483 | ) |  | $ | (7,805 | ) |  | $ | — |  |  | $ | (221,063 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Contributions to unconsolidated joint ventures | — |  |  | (8,618 | ) |  | — |  |  | — |  |  | (8,618 | )
Proceeds from sale of investment in unconsolidated joint venture | — |  |  | 10,110 |  |  | — |  |  | — |  |  | 10,110 |
Purchases of property and equipment, net | (70 | ) |  | (1,455 | ) |  | (51 | ) |  | — |  |  | (1,576 | )
Intercompany | (265,497 | ) |  | — |  |  | — |  |  | 265,497 |  |  | — |
Net cash provided by (used in) investing activities | (265,567 | ) |  | 37 |  |  | (51 | ) |  | 265,497 |  |  | (84 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Change in restricted cash | (177 | ) |  | — |  |  | — |  |  | — |  |  | (177 | )
Payments on mortgages and land contracts due to land sellers and other loans | — |  |  | (2,655 | ) |  | — |  |  | — |  |  | (2,655 | )
Payments of cash dividends | (2,094 | ) |  | — |  |  | — |  |  | — |  |  | (2,094 | )
Intercompany | — |  |  | 260,828 |  |  | 4,669 |  |  | (265,497 | ) |  | — |
Net cash provided by (used in) financing activities | (2,271 | ) |  | 258,173 |  |  | 4,669 |  |  | (265,497 | ) |  | (4,926 | )
Net increase (decrease) in cash and cash equivalents | (242,613 | ) |  | 19,727 |  |  | (3,187 | ) |  | — |  |  | (226,073 | )
Cash and cash equivalents at beginning of period | 476,847 |  |  | 41,316 |  |  | 14,360 |  |  | — |  |  | 532,523 |
Cash and cash equivalents at end of period | $ | 234,234 |  |  | $ | 61,043 |  |  | $ | 11,173 |  |  | $ | — |  |  | $ | 306,450 |
Condensed Consolidating Statement of Cash Flows Three Months Ended February 28, 2013 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net cash provided by (used in) operating activities | $ | 8,208 |  |  | $ | (206,425 | ) |  | $ | (12,815 | ) |  | $ | — |  |  | $ | (211,032 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Contributions to unconsolidated joint ventures | — |  |  | (94 | ) |  | (210 | ) |  | — |  |  | (304 | )
Purchases of property and equipment, net | (96 | ) |  | (318 | ) |  | (16 | ) |  | — |  |  | (430 | )
Intercompany | (239,211 | ) |  | — |  |  | — |  |  | 239,211 |  |  | — |
Net cash used in investing activities | (239,307 | ) |  | (412 | ) |  | (226 | ) |  | 239,211 |  |  | (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 | — |  |  | (17,003 | ) |  | — |  |  | — |  |  | (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 | — |  |  | 230,182 |  |  | 9,029 |  |  | (239,211 | ) |  | — |
Net cash provided by financing activities | 328,639 |  |  | 213,179 |  |  | 9,029 |  |  | (239,211 | ) |  | 311,636 |
Net increase (decrease) in cash and cash equivalents | 97,540 |  |  | 6,342 |  |  | (4,012 | ) |  | — |  |  | 99,870 |
Cash and cash equivalents at beginning of period | 457,007 |  |  | 54,205 |  |  | 14,476 |  |  | — |  |  | 525,688 |
Cash and cash equivalents at end of period | $ | 554,547 |  |  | $ | 60,547 |  |  | $ | 10,464 |  |  | $ | — |  |  | $ | 625,558 |

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