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Supplemental Guarantor Information (Tables) | 9 Months Ended
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Aug. 31, 2014
Guarantees [Abstract] |
Condensed Consolidated Statements of Operations | Condensed Consolidating Statement of Operations Nine Months Ended August 31, 2014 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Revenues | $ | — |  |  | $ | 1,557,252 |  |  | $ | 47,656 |  |  | $ | — |  |  | $ | 1,604,908 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 1,557,252 |  |  | $ | 39,642 |  |  | $ | — |  |  | $ | 1,596,894 |
Construction and land costs | — |  |  | (1,268,984 | ) |  | (36,274 | ) |  | — |  |  | (1,305,258 | )
Selling, general and administrative expenses | (47,489 | ) |  | (146,607 | ) |  | (11,619 | ) |  | — |  |  | (205,715 | )
Operating income (loss) | (47,489 | ) |  | 141,661 |  |  | (8,251 | ) |  | — |  |  | 85,921 |
Interest income | 385 |  |  | 7 |  |  | 1 |  |  | — |  |  | 393 |
Interest expense | (122,634 | ) |  | (4,408 | ) |  | — |  |  | 100,753 |  |  | (26,289 | )
Intercompany interest | 206,943 |  |  | (105,892 | ) |  | (298 | ) |  | (100,753 | ) |  | — |
Equity in income of unconsolidated joint ventures | — |  |  | 1,161 |  |  | — |  |  | — |  |  | 1,161 |
Homebuilding pretax income (loss) | 37,205 |  |  | 32,529 |  |  | (8,548 | ) |  | — |  |  | 61,186 |
Financial services pretax income | — |  |  | — |  |  | 5,162 |  |  | — |  |  | 5,162 |
Total pretax income (loss) | 37,205 |  |  | 32,529 |  |  | (3,386 | ) |  | — |  |  | 66,348 |
Income tax expense | (400 | ) |  | (400 | ) |  | — |  |  | — |  |  | (800 | )
Equity in net income of subsidiaries | 28,743 |  |  | — |  |  | — |  |  | (28,743 | ) |  | — |
Net income (loss) | $ | 65,548 |  |  | $ | 32,129 |  |  | $ | (3,386 | ) |  | $ | (28,743 | ) |  | $ | 65,548 |
Condensed Consolidating Statement of Operations Nine Months Ended August 31, 2013 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Revenues | $ | — |  |  | $ | 1,434,836 |  |  | $ | 43,763 |  |  | $ | — |  |  | $ | 1,478,599 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 1,434,836 |  |  | $ | 35,568 |  |  | $ | — |  |  | $ | 1,470,404 |
Construction and land costs | — |  |  | (1,200,334 | ) |  | (32,310 | ) |  | — |  |  | (1,232,644 | )
Selling, general and administrative expenses | (45,355 | ) |  | (136,703 | ) |  | (10,594 | ) |  | — |  |  | (192,652 | )
Operating income (loss) | (45,355 | ) |  | 97,799 |  |  | (7,336 | ) |  | — |  |  | 45,108 |
Interest income | 607 |  |  | 18 |  |  | 4 |  |  | — |  |  | 629 |
Interest expense | (98,090 | ) |  | (4,167 | ) |  | — |  |  | 61,184 |  |  | (41,073 | )
Intercompany interest | 147,343 |  |  | (86,909 | ) |  | 750 |  |  | (61,184 | ) |  | — |
Equity in income (loss) of unconsolidated joint ventures | — |  |  | (1,659 | ) |  | 1 |  |  | — |  |  | (1,658 | )
Homebuilding pretax income (loss) | 4,505 |  |  | 5,082 |  |  | (6,581 | ) |  | — |  |  | 3,006 |
Financial services pretax income | — |  |  | — |  |  | 7,041 |  |  | — |  |  | 7,041 |
Total pretax income | 4,505 |  |  | 5,082 |  |  | 460 |  |  | — |  |  | 10,047 |
Income tax benefit | 800 |  |  | 900 |  |  | 100 |  |  | — |  |  | 1,800 |
Equity in net income of subsidiaries | 6,542 |  |  | — |  |  | — |  |  | (6,542 | ) |  | — |
Net income | $ | 11,847 |  |  | $ | 5,982 |  |  | $ | 560 |  |  | $ | (6,542 | ) |  | $ | 11,847 |
Condensed Consolidating Statement of Operations Three Months Ended August 31, 2014 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Revenues | $ | — |  |  | $ | 568,996 |  |  | $ | 20,218 |  |  | $ | — |  |  | $ | 589,214 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 568,996 |  |  | $ | 17,235 |  |  | $ | — |  |  | $ | 586,231 |
Construction and land costs | — |  |  | (464,162 | ) |  | (15,262 | ) |  | — |  |  | (479,424 | )
Selling, general and administrative expenses | (15,995 | ) |  | (52,832 | ) |  | (4,070 | ) |  | — |  |  | (72,897 | )
Operating income (loss) | (15,995 | ) |  | 52,002 |  |  | (2,097 | ) |  | — |  |  | 33,910 |
Interest income | 109 |  |  | 1 |  |  | — |  |  | — |  |  | 110 |
Interest expense | (42,955 | ) |  | (1,648 | ) |  | — |  |  | 38,148 |  |  | (6,455 | )
Intercompany interest | 76,512 |  |  | (38,359 | ) |  | (5 | ) |  | (38,148 | ) |  | — |
Equity in loss of unconsolidated joint ventures | — |  |  | (751 | ) |  | — |  |  | — |  |  | (751 | )
Homebuilding pretax income (loss) | 17,671 |  |  | 11,245 |  |  | (2,102 | ) |  | — |  |  | 26,814 |
Financial services pretax income | — |  |  | — |  |  | 1,847 |  |  | — |  |  | 1,847 |
Total pretax income (loss) | 17,671 |  |  | 11,245 |  |  | (255 | ) |  | — |  |  | 28,661 |
Income tax expense | (200 | ) |  | (100 | ) |  | — |  |  | — |  |  | (300 | )
Equity in net income of subsidiaries | 10,890 |  |  | — |  |  | — |  |  | (10,890 | ) |  | — |
Net income (loss) | $ | 28,361 |  |  | $ | 11,145 |  |  | $ | (255 | ) |  | $ | (10,890 | ) |  | $ | 28,361 |
Condensed Consolidating Statement of Operations Three Months Ended August 31, 2013 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Revenues | $ | — |  |  | $ | 533,593 |  |  | $ | 15,381 |  |  | $ | — |  |  | $ | 548,974 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 533,593 |  |  | $ | 12,207 |  |  | $ | — |  |  | $ | 545,800 |
Construction and land costs | — |  |  | (435,168 | ) |  | (11,213 | ) |  | — |  |  | (446,381 | )
Selling, general and administrative expenses | (11,203 | ) |  | (48,706 | ) |  | (3,547 | ) |  | — |  |  | (63,456 | )
Operating income (loss) | (11,203 | ) |  | 49,719 |  |  | (2,553 | ) |  | — |  |  | 35,963 |
Interest income | 178 |  |  | 15 |  |  | — |  |  | — |  |  | 193 |
Interest expense | (33,140 | ) |  | (1,204 | ) |  | — |  |  | 23,018 |  |  | (11,326 | )
Intercompany interest | 52,786 |  |  | (29,486 | ) |  | (282 | ) |  | (23,018 | ) |  | — |
Equity in income (loss) of unconsolidated joint ventures | — |  |  | (657 | ) |  | 1 |  |  | — |  |  | (656 | )
Homebuilding pretax income (loss) | 8,621 |  |  | 18,387 |  |  | (2,834 | ) |  | — |  |  | 24,174 |
Financial services pretax income | — |  |  | — |  |  | 2,404 |  |  | — |  |  | 2,404 |
Total pretax income (loss) | 8,621 |  |  | 18,387 |  |  | (430 | ) |  | — |  |  | 26,578 |
Income tax benefit | 200 |  |  | 500 |  |  | — |  |  | — |  |  | 700 |
Equity in net income of subsidiaries | 18,457 |  |  | — |  |  | — |  |  | (18,457 | ) |  | — |
Net income (loss) | $ | 27,278 |  |  | $ | 18,887 |  |  | $ | (430 | ) |  | $ | (18,457 | ) |  | $ | 27,278 |
Condensed Consolidated Balance Sheets | Condensed Consolidating Balance Sheet August 31, 2014 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Assets |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 236,649 |  |  | $ | 55,730 |  |  | $ | 4,679 |  |  | $ | — |  |  | $ | 297,058 |
Restricted cash | 32,456 |  |  | — |  |  | — |  |  | — |  |  | 32,456 |
Receivables | 1,447 |  |  | 115,706 |  |  | 272 |  |  | — |  |  | 117,425 |
Inventories | — |  |  | 3,197,073 |  |  | 43,247 |  |  | — |  |  | 3,240,320 |
Investments in unconsolidated joint ventures | — |  |  | 73,607 |  |  | — |  |  | — |  |  | 73,607 |
Other assets | 101,963 |  |  | 14,865 |  |  | 1,334 |  |  | — |  |  | 118,162 |
| 372,515 |  |  | 3,456,981 |  |  | 49,532 |  |  | — |  |  | 3,879,028 |
Financial services | — |  |  | — |  |  | 8,363 |  |  | — |  |  | 8,363 |
Intercompany receivables | 2,996,939 |  |  | — |  |  | 113,404 |  |  | (3,110,343 | ) |  | — |
Investments in subsidiaries | 47,608 |  |  | — |  |  | — |  |  | (47,608 | ) |  | — |
Total assets | $ | 3,417,062 |  |  | $ | 3,456,981 |  |  | $ | 171,299 |  |  | $ | (3,157,951 | ) |  | $ | 3,887,391 |
Liabilities and stockholders’ equity |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 139,019 |  |  | $ | 327,359 |  |  | $ | 93,844 |  |  | $ | — |  |  | $ | 560,222 |
Mortgages and notes payable | 2,512,806 |  |  | 67,994 |  |  | — |  |  | — |  |  | 2,580,800 |
| 2,651,825 |  |  | 395,353 |  |  | 93,844 |  |  | — |  |  | 3,141,022 |
Financial services | — |  |  | — |  |  | 1,802 |  |  | — |  |  | 1,802 |
Intercompany payables | 20,670 |  |  | 3,050,388 |  |  | 39,285 |  |  | (3,110,343 | ) |  | — |
Stockholders’ equity | 744,567 |  |  | 11,240 |  |  | 36,368 |  |  | (47,608 | ) |  | 744,567 |
Total liabilities and stockholders’ equity | $ | 3,417,062 |  |  | $ | 3,456,981 |  |  | $ | 171,299 |  |  | $ | (3,157,951 | ) |  | $ | 3,887,391 |
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 Nine Months Ended August 31, 2014 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net cash provided by (used in) operating activities | $ | 65,951 |  |  | $ | (768,929 | ) |  | $ | (13,684 | ) |  | $ | — |  |  | $ | (716,662 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Contributions to unconsolidated joint ventures | — |  |  | (34,034 | ) |  | — |  |  | — |  |  | (34,034 | )
Proceeds from sale of investment in unconsolidated joint venture | — |  |  | 10,110 |  |  | — |  |  | — |  |  | 10,110 |
Purchases of property and equipment, net | (131 | ) |  | (3,924 | ) |  | (103 | ) |  | — |  |  | (4,158 | )
Intercompany | (840,539 | ) |  | — |  |  | — |  |  | 840,539 |  |  | — |
Net cash used in investing activities | (840,670 | ) |  | (27,848 | ) |  | (103 | ) |  | 840,539 |  |  | (28,082 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Change in restricted cash | 9,450 |  |  | — |  |  | — |  |  | — |  |  | 9,450 |
Proceeds from issuance of debt | 400,000 |  |  | — |  |  | — |  |  | — |  |  | 400,000 |
Payment of debt issuance costs | (5,448 | ) |  | — |  |  | — |  |  | — |  |  | (5,448 | )
Payments on mortgages and land contracts due to land sellers and other loans | — |  |  | (23,292 | ) |  | — |  |  | — |  |  | (23,292 | )
Proceeds from issuance of common stock, net | 137,045 |  |  | — |  |  | — |  |  | — |  |  | 137,045 |
Issuance of common stock under employee stock plans | 202 |  |  | — |  |  | — |  |  | — |  |  | 202 |
Payments of cash dividends | (6,682 | ) |  | — |  |  | — |  |  | — |  |  | (6,682 | )
Stock repurchases | (46 | ) |  | — |  |  | — |  |  | — |  |  | (46 | )
Intercompany | — |  |  | 834,483 |  |  | 6,056 |  |  | (840,539 | ) |  | — |
Net cash provided by financing activities | 534,521 |  |  | 811,191 |  |  | 6,056 |  |  | (840,539 | ) |  | 511,229 |
Net increase (decrease) in cash and cash equivalents | (240,198 | ) |  | 14,414 |  |  | (7,731 | ) |  | — |  |  | (233,515 | )
Cash and cash equivalents at beginning of period | 476,847 |  |  | 41,316 |  |  | 14,360 |  |  | — |  |  | 532,523 |
Cash and cash equivalents at end of period | $ | 236,649 |  |  | $ | 55,730 |  |  | $ | 6,629 |  |  | $ | — |  |  | $ | 299,008 |
Condensed Consolidating Statement of Cash Flows Nine Months Ended August 31, 2013 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net cash provided by (used in) operating activities | $ | 25,657 |  |  | $ | (413,443 | ) |  | $ | (13,673 | ) |  | $ | — |  |  | $ | (401,459 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Contributions to unconsolidated joint ventures | — |  |  | (5,063 | ) |  | (4,993 | ) |  | — |  |  | (10,056 | )
Purchases of property and equipment, net | (346 | ) |  | (783 | ) |  | (230 | ) |  | — |  |  | (1,359 | )
Intercompany | (493,419 | ) |  | — |  |  | — |  |  | 493,419 |  |  | — |
Net cash used in investing activities | (493,765 | ) |  | (5,846 | ) |  | (5,223 | ) |  | 493,419 |  |  | (11,415 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Change in restricted cash | 731 |  |  | — |  |  | — |  |  | — |  |  | 731 |
Proceeds from issuance of debt | 230,000 |  |  | — |  |  | — |  |  | — |  |  | 230,000 |
Payment of debt issuance costs | (10,086 | ) |  | — |  |  | — |  |  | — |  |  | (10,086 | )
Payments on mortgages and land contracts due to land sellers and other loans | — |  |  | (44,405 | ) |  | — |  |  | — |  |  | (44,405 | )
Proceeds from issuance of common stock, net | 109,503 |  |  | — |  |  | — |  |  | — |  |  | 109,503 |
Issuance of common stock under employee stock plans | 2,147 |  |  | — |  |  | — |  |  | — |  |  | 2,147 |
Payments of cash dividends | (6,272 | ) |  | — |  |  | — |  |  | — |  |  | (6,272 | )
Stock repurchases | (7,967 | ) |  | — |  |  | — |  |  | — |  |  | (7,967 | )
Intercompany | — |  |  | 475,592 |  |  | 17,827 |  |  | (493,419 | ) |  | — |
Net cash provided by financing activities | 318,056 |  |  | 431,187 |  |  | 17,827 |  |  | (493,419 | ) |  | 273,651 |
Net increase (decrease) in cash and cash equivalents | (150,052 | ) |  | 11,898 |  |  | (1,069 | ) |  | — |  |  | (139,223 | )
Cash and cash equivalents at beginning of period | 457,007 |  |  | 54,205 |  |  | 14,476 |  |  | — |  |  | 525,688 |
Cash and cash equivalents at end of period | $ | 306,955 |  |  | $ | 66,103 |  |  | $ | 13,407 |  |  | $ | — |  |  | $ | 386,465 |

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