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Supplemental Guarantor Information | 12 Months Ended
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Nov. 30, 2014
Guarantees [Abstract] |
Supplemental Guarantor Information | Supplemental Guarantor Information Our obligations to pay principal, premium, if any, and interest under our senior notes and the 1.375% Convertible Senior Notes due 2019 and borrowings, if any, under the Credit Facility are guaranteed on a joint and several basis by the Guarantor Subsidiaries. The guarantees are full and unconditional and the Guarantor Subsidiaries are 100% owned by us. Pursuant to the terms of the indenture governing our senior notes and the 1.375% Convertible Senior Notes due 2019, and the terms of the Credit Facility, a Guarantor Subsidiary will be automatically and unconditionally released and discharged from its guaranty of our senior notes, the 1.375% Convertible Senior Notes due 2019 and the Credit Facility if such Guarantor Subsidiary ceases to be a “significant subsidiary” as defined by Rule 1-02 of Regulation S-X using a 5% rather than a 10% threshold, provided that the assets of our non-guarantor subsidiaries do not in the aggregate exceed 10% of an adjusted measure of our consolidated total assets, so long as all guarantees by such Guarantor Subsidiary of any other of our or our subsidiaries’ indebtedness are terminated at or prior to the time of such release. We have determined that separate, full financial statements of the Guarantor Subsidiaries would not be material to investors and, accordingly, supplemental financial information for the Guarantor Subsidiaries is presented. The supplemental financial information for all periods presented below reflects the relevant subsidiaries that were Guarantor Subsidiaries as of November 30, 2014. Condensed Consolidating Statement of Operations (in thousands)
| Year Ended November 30, 2014
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Revenues | $ | — |  |  | $ | 2,148,048 |  |  | $ | 252,901 |  |  | $ | — |  |  | $ | 2,400,949 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 2,148,048 |  |  | $ | 241,595 |  |  | $ | — |  |  | $ | 2,389,643 |
Construction and land costs | — |  |  | (1,776,839 | ) |  | (208,812 | ) |  | — |  |  | (1,985,651 | )
Selling, general and administrative expenses | (68,717 | ) |  | (188,690 | ) |  | (30,616 | ) |  | — |  |  | (288,023 | )
Operating income (loss) | (68,717 | ) |  | 182,519 |  |  | 2,167 |  |  | — |  |  | 115,969 |
Interest income | 432 |  |  | 9 |  |  | 2 |  |  | — |  |  | 443 |
Interest expense | (165,485 | ) |  | (6,056 | ) |  | — |  |  | 140,791 |  |  | (30,750 | )
Intercompany interest | 287,017 |  |  | (135,978 | ) |  | (10,248 | ) |  | (140,791 | ) |  | — |
Equity in income (loss) of unconsolidated joint ventures | — |  |  | (2,551 | ) |  | 3,292 |  |  | — |  |  | 741 |
Homebuilding pretax income (loss) | 53,247 |  |  | 37,943 |  |  | (4,787 | ) |  | — |  |  | 86,403 |
Financial services pretax income | — |  |  | — |  |  | 8,546 |  |  | — |  |  | 8,546 |
Total pretax income | 53,247 |  |  | 37,943 |  |  | 3,759 |  |  | — |  |  | 94,949 |
Income tax benefit | 215,691 |  |  | 551,203 |  |  | 56,506 |  |  | — |  |  | 823,400 |
Equity in net income of subsidiaries | 649,411 |  |  | — |  |  | — |  |  | (649,411 | ) |  | — |
Net income | $ | 918,349 |  |  | $ | 589,146 |  |  | $ | 60,265 |  |  | $ | (649,411 | ) |  | $ | 918,349 |
Condensed Consolidating Statement of Operations (in thousands)
| Year Ended November 30, 2013
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Revenues | $ | — |  |  | $ | 1,872,648 |  |  | $ | 224,482 |  |  | $ | — |  |  | $ | 2,097,130 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 1,872,648 |  |  | $ | 212,330 |  |  | $ | — |  |  | $ | 2,084,978 |
Construction and land costs | — |  |  | (1,549,426 | ) |  | (187,660 | ) |  | — |  |  | (1,737,086 | )
Selling, general and administrative expenses | (60,545 | ) |  | (161,415 | ) |  | (33,848 | ) |  | — |  |  | (255,808 | )
Operating income (loss) | (60,545 | ) |  | 161,807 |  |  | (9,178 | ) |  | — |  |  | 92,084 |
Interest income | 768 |  |  | 18 |  |  | 6 |  |  | — |  |  | 792 |
Interest expense | (143,902 | ) |  | (5,199 | ) |  | — |  |  | 86,411 |  |  | (62,690 | )
Intercompany interest | 203,096 |  |  | (108,252 | ) |  | (8,433 | ) |  | (86,411 | ) |  | — |
Equity in income (loss) of unconsolidated joint ventures | — |  |  | (2,506 | ) |  | 499 |  |  | — |  |  | (2,007 | )
Homebuilding pretax income (loss) | (583 | ) |  | 45,868 |  |  | (17,106 | ) |  | — |  |  | 28,179 |
Financial services pretax income | — |  |  | — |  |  | 10,184 |  |  | — |  |  | 10,184 |
Total pretax income (loss) | (583 | ) |  | 45,868 |  |  | (6,922 | ) |  | — |  |  | 38,363 |
Income tax benefit (expense) | 100 |  |  | 1,800 |  |  | (300 | ) |  | — |  |  | 1,600 |
Equity in net income of subsidiaries | 40,446 |  |  | — |  |  | — |  |  | (40,446 | ) |  | — |
Net income (loss) | $ | 39,963 |  |  | $ | 47,668 |  |  | $ | (7,222 | ) |  | $ | (40,446 | ) |  | $ | 39,963 |
Condensed Consolidating Statement of Operations (in thousands)
| Year Ended November 30, 2012
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Revenues | $ | — |  |  | $ | 1,378,749 |  |  | $ | 181,366 |  |  | $ | — |  |  | $ | 1,560,115 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 1,378,749 |  |  | $ | 169,683 |  |  | $ | — |  |  | $ | 1,548,432 |
Construction and land costs | — |  |  | (1,192,877 | ) |  | (139,168 | ) |  | — |  |  | (1,332,045 | )
Selling, general and administrative expenses | (60,101 | ) |  | (145,291 | ) |  | (31,251 | ) |  | — |  |  | (236,643 | )
Operating income (loss) | (60,101 | ) |  | 40,581 |  |  | (736 | ) |  | — |  |  | (20,256 | )
Interest income | 480 |  |  | 14 |  |  | 24 |  |  | — |  |  | 518 |
Interest expense | (127,291 | ) |  | (5,364 | ) |  | (1 | ) |  | 62,852 |  |  | (69,804 | )
Intercompany interest | 176,977 |  |  | (97,304 | ) |  | (16,821 | ) |  | (62,852 | ) |  | — |
Equity in income (loss) of unconsolidated joint ventures | — |  |  | (985 | ) |  | 591 |  |  | — |  |  | (394 | )
Homebuilding pretax loss | (9,935 | ) |  | (63,058 | ) |  | (16,943 | ) |  | — |  |  | (89,936 | )
Financial services pretax income | — |  |  | — |  |  | 10,883 |  |  | — |  |  | 10,883 |
Total pretax loss | (9,935 | ) |  | (63,058 | ) |  | (6,060 | ) |  | — |  |  | (79,053 | )
Income tax benefit | 7,900 |  |  | 10,800 |  |  | 1,400 |  |  | — |  |  | 20,100 |
Equity in net loss of subsidiaries | (56,918 | ) |  | — |  |  | — |  |  | 56,918 |  |  | — |
Net loss | $ | (58,953 | ) |  | $ | (52,258 | ) |  | $ | (4,660 | ) |  | $ | 56,918 |  |  | $ | (58,953 | )
Condensed Consolidating Statements of Comprehensive Income (Loss) (in thousands)
| Year Ended November 30, 2014
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net income | $ | 918,349 |  |  | $ | 589,146 |  |  | $ | 60,265 |  |  | $ | (649,411 | ) |  | $ | 918,349 |
Other comprehensive loss: |  |  |  |  |  |  |  |  |
Postretirement benefit plan adjustments | (1,888 | ) |  | — |  |  | — |  |  | — |  |  | (1,888 | )
Other comprehensive loss before tax | (1,888 | ) |  | — |  |  | — |  |  | — |  |  | (1,888 | )
Income tax expense related to items of other comprehensive income | (1,604 | ) |  | — |  |  | — |  |  | — |  |  | (1,604 | )
Other comprehensive loss, net of tax | (3,492 | ) |  | — |  |  | — |  |  | — |  |  | (3,492 | )
Comprehensive income | $ | 914,857 |  |  | $ | 589,146 |  |  | $ | 60,265 |  |  | $ | (649,411 | ) |  | $ | 914,857 |
| Year Ended November 30, 2013
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net income (loss) | $ | 39,963 |  |  | $ | 47,668 |  |  | $ | (7,222 | ) |  | $ | (40,446 | ) |  | $ | 39,963 |
Other comprehensive income: |  |  |  |  |  |  |  |  |
Postretirement benefit plan adjustments | 10,442 |  |  | — |  |  | — |  |  | — |  |  | 10,442 |
Other comprehensive income, net of tax | 10,442 |  |  | — |  |  | — |  |  | — |  |  | 10,442 |
Comprehensive income (loss) | $ | 50,405 |  |  | $ | 47,668 |  |  | $ | (7,222 | ) |  | $ | (40,446 | ) |  | $ | 50,405 |
| Year Ended November 30, 2012
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net loss | $ | (58,953 | ) |  | $ | (52,258 | ) |  | $ | (4,660 | ) |  | $ | 56,918 |  |  | $ | (58,953 | )
Other comprehensive loss: |  |  |  |  |  |  |  |  |
Postretirement benefit plan adjustments | (1,806 | ) |  | — |  |  | — |  |  | — |  |  | (1,806 | )
Other comprehensive loss, net of tax | (1,806 | ) |  | — |  |  | — |  |  | — |  |  | (1,806 | )
Comprehensive loss | $ | (60,759 | ) |  | $ | (52,258 | ) |  | $ | (4,660 | ) |  | $ | 56,918 |  |  | $ | (60,759 | )
Condensed Consolidating Balance Sheet (in thousands)
| November 30, 2014
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Assets |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 303,280 |  |  | $ | 38,124 |  |  | $ | 14,962 |  |  | $ | — |  |  | $ | 356,366 |
Restricted cash | 27,235 |  |  | — |  |  | — |  |  | — |  |  | 27,235 |
Receivables | 15 |  |  | 123,024 |  |  | 2,449 |  |  | — |  |  | 125,488 |
Inventories | — |  |  | 2,980,056 |  |  | 238,331 |  |  | — |  |  | 3,218,387 |
Investments in unconsolidated joint ventures | — |  |  | 79,441 |  |  | — |  |  | — |  |  | 79,441 |
Deferred tax assets, net | 215,923 |  |  | 552,653 |  |  | 56,656 |  |  | — |  |  | 825,232 |
Other assets | 99,099 |  |  | 13,922 |  |  | 1,894 |  |  | — |  |  | 114,915 |
| 645,552 |  |  | 3,787,220 |  |  | 314,292 |  |  | — |  |  | 4,747,064 |
Financial services | — |  |  | — |  |  | 10,486 |  |  | — |  |  | 10,486 |
Intercompany receivables | 3,582,612 |  |  | — |  |  | 112,919 |  |  | (3,695,531 | ) |  | — |
Investments in subsidiaries | 39,356 |  |  | — |  |  | — |  |  | (39,356 | ) |  | — |
Total assets | $ | 4,267,520 |  |  | $ | 3,787,220 |  |  | $ | 437,697 |  |  | $ | (3,734,887 | ) |  | $ | 4,757,550 |
Liabilities and stockholders’ equity |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 138,298 |  |  | $ | 331,361 |  |  | $ | 112,939 |  |  | $ | — |  |  | $ | 582,598 |
Notes payable | 2,513,165 |  |  | 63,360 |  |  | — |  |  | — |  |  | 2,576,525 |
| 2,651,463 |  |  | 394,721 |  |  | 112,939 |  |  | — |  |  | 3,159,123 |
Financial services | — |  |  | — |  |  | 2,517 |  |  | — |  |  | 2,517 |
Intercompany payables | 20,147 |  |  | 3,392,499 |  |  | 282,885 |  |  | (3,695,531 | ) |  | — |
Stockholders’ equity | 1,595,910 |  |  | — |  |  | 39,356 |  |  | (39,356 | ) |  | 1,595,910 |
Total liabilities and stockholders’ equity | $ | 4,267,520 |  |  | $ | 3,787,220 |  |  | $ | 437,697 |  |  | $ | (3,734,887 | ) |  | $ | 4,757,550 |
Condensed Consolidating Balance Sheet (in thousands)
| November 30, 2013
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Assets |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 476,847 |  |  | $ | 39,952 |  |  | $ | 13,296 |  |  | $ | — |  |  | $ | 530,095 |
Restricted cash | 41,906 |  |  | — |  |  | — |  |  | — |  |  | 41,906 |
Receivables | 1,472 |  |  | 73,668 |  |  | 609 |  |  | — |  |  | 75,749 |
Inventories | — |  |  | 2,084,177 |  |  | 214,400 |  |  | — |  |  | 2,298,577 |
Investments in unconsolidated joint ventures | — |  |  | 123,623 |  |  | 6,569 |  |  | — |  |  | 130,192 |
Other assets | 97,647 |  |  | 8,393 |  |  | 1,036 |  |  | — |  |  | 107,076 |
| 617,872 |  |  | 2,329,813 |  |  | 235,910 |  |  | — |  |  | 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 |  |  | $ | 2,329,813 |  |  | $ | 363,779 |  |  | $ | (2,287,513 | ) |  | $ | 3,193,635 |
Liabilities and stockholders’ equity |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 117,875 |  |  | $ | 268,431 |  |  | $ | 118,152 |  |  | $ | — |  |  | $ | 504,458 |
Notes payable | 2,111,773 |  |  | 38,725 |  |  | — |  |  | — |  |  | 2,150,498 |
| 2,229,648 |  |  | 307,156 |  |  | 118,152 |  |  | — |  |  | 2,654,956 |
Financial services | — |  |  | — |  |  | 2,593 |  |  | — |  |  | 2,593 |
Intercompany payables | 21,822 |  |  | 2,022,657 |  |  | 203,079 |  |  | (2,247,558 | ) |  | — |
Stockholders’ equity | 536,086 |  |  | — |  |  | 39,955 |  |  | (39,955 | ) |  | 536,086 |
Total liabilities and stockholders’ equity | $ | 2,787,556 |  |  | $ | 2,329,813 |  |  | $ | 363,779 |  |  | $ | (2,287,513 | ) |  | $ | 3,193,635 |
Condensed Consolidating Statement of Cash Flows (in thousands)
| Year Ended November 30, 2014
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net cash provided by (used in) operating activities | $ | 82,629 |  |  | $ | (680,649 | ) |  | $ | (32,671 | ) |  | $ | — |  |  | $ | (630,691 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Contributions to unconsolidated joint ventures | — |  |  | (48,849 | ) |  | (248 | ) |  | — |  |  | (49,097 | )
Proceeds from sale of investment in unconsolidated joint venture | — |  |  | — |  |  | 10,110 |  |  | — |  |  | 10,110 |
Purchases of property and equipment, net | (208 | ) |  | (4,961 | ) |  | (626 | ) |  | — |  |  | (5,795 | )
Intercompany | (794,624 | ) |  | — |  |  | — |  |  | 794,624 |  |  | — |
Net cash provided by (used in) investing activities | (794,832 | ) |  | (53,810 | ) |  | 9,236 |  |  | 794,624 |  |  | (44,782 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Change in restricted cash | 14,671 |  |  | — |  |  | — |  |  | — |  |  | 14,671 |
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 | — |  |  | (36,918 | ) |  | — |  |  | — |  |  | (36,918 | )
Proceeds from issuance of common stock, net | 137,045 |  |  | — |  |  | — |  |  | — |  |  | 137,045 |
Issuance of common stock under employee stock plans | 1,896 |  |  | — |  |  | — |  |  | — |  |  | 1,896 |
Payments of cash dividends | (8,982 | ) |  | — |  |  | — |  |  | — |  |  | (8,982 | )
Stock repurchases | (546 | ) |  | — |  |  | — |  |  | — |  |  | (546 | )
Intercompany | — |  |  | 769,549 |  |  | 25,075 |  |  | (794,624 | ) |  | — |
Net cash provided by financing activities | 538,636 |  |  | 732,631 |  |  | 25,075 |  |  | (794,624 | ) |  | 501,718 |
Net increase (decrease) in cash and cash equivalents | (173,567 | ) |  | (1,828 | ) |  | 1,640 |  |  | — |  |  | (173,755 | )
Cash and cash equivalents at beginning of year | 476,847 |  |  | 39,952 |  |  | 15,724 |  |  | — |  |  | 532,523 |
Cash and cash equivalents at end of year | $ | 303,280 |  |  | $ | 38,124 |  |  | $ | 17,364 |  |  | $ | — |  |  | $ | 358,768 |
Condensed Consolidating Statement of Cash Flows (in thousands)
| Year Ended November 30, 2013
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net cash provided by (used in) operating activities | $ | 4,795 |  |  | $ | (483,363 | ) |  | $ | 35,082 |  |  | $ | — |  |  | $ | (443,486 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Contributions to unconsolidated joint ventures | — |  |  | (9,336 | ) |  | (5,023 | ) |  | — |  |  | (14,359 | )
Purchases of property and equipment, net | (519 | ) |  | (1,289 | ) |  | (583 | ) |  | — |  |  | (2,391 | )
Intercompany | (517,803 | ) |  | — |  |  | — |  |  | 517,803 |  |  | — |
Net cash used in investing activities | (518,322 | ) |  | (10,625 | ) |  | (5,606 | ) |  | 517,803 |  |  | (16,750 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Change in restricted cash | 456 |  |  | — |  |  | — |  |  | — |  |  | 456 |
Proceeds from issuance of debt | 680,000 |  |  | — |  |  | — |  |  | — |  |  | 680,000 |
Payment of debt issuance costs | (16,525 | ) |  | — |  |  | — |  |  | — |  |  | (16,525 | )
Repayment of senior notes | (225,394 | ) |  | — |  |  | — |  |  | — |  |  | (225,394 | )
Payments on mortgages and land contracts due to land sellers and other loans | — |  |  | (66,296 | ) |  | — |  |  | — |  |  | (66,296 | )
Proceeds from issuance of common stock, net | 109,503 |  |  | — |  |  | — |  |  | — |  |  | 109,503 |
Issuance of common stock under employee stock plans | 2,181 |  |  | — |  |  | — |  |  | — |  |  | 2,181 |
Payments of cash dividends | (8,366 | ) |  | — |  |  | — |  |  | — |  |  | (8,366 | )
Stock repurchases | (8,488 | ) |  | — |  |  | — |  |  | — |  |  | (8,488 | )
Intercompany | — |  |  | 550,704 |  |  | (32,901 | ) |  | (517,803 | ) |  | — |
Net cash provided by (used in) financing activities | 533,367 |  |  | 484,408 |  |  | (32,901 | ) |  | (517,803 | ) |  | 467,071 |
Net increase (decrease) in cash and cash equivalents | 19,840 |  |  | (9,580 | ) |  | (3,425 | ) |  | — |  |  | 6,835 |
Cash and cash equivalents at beginning of year | 457,007 |  |  | 49,532 |  |  | 19,149 |  |  | — |  |  | 525,688 |
Cash and cash equivalents at end of year | $ | 476,847 |  |  | $ | 39,952 |  |  | $ | 15,724 |  |  | $ | — |  |  | $ | 532,523 |
Condensed Consolidating Statement of Cash Flows (in thousands)
| Year Ended November 30, 2012
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net cash provided by (used in) operating activities | $ | 16,433 |  |  | $ | 21,233 |  |  | $ | (3,049 | ) |  | $ | — |  |  | $ | 34,617 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Return of investments in (contributions to) unconsolidated joint ventures | — |  |  | 1,381 |  |  | (392 | ) |  | — |  |  | 989 |
Purchases of property and equipment, net | (175 | ) |  | (1,494 | ) |  | (80 | ) |  | — |  |  | (1,749 | )
Intercompany | (263 | ) |  | — |  |  | — |  |  | 263 |  |  | — |
Net cash used in investing activities | (438 | ) |  | (113 | ) |  | (472 | ) |  | 263 |  |  | (760 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Change in restricted cash | 22,119 |  |  | — |  |  | — |  |  | — |  |  | 22,119 |
Proceeds from issuance of debt | 694,831 |  |  | — |  |  | — |  |  | — |  |  | 694,831 |
Payment of debt issuance costs | (12,445 | ) |  | — |  |  | — |  |  | — |  |  | (12,445 | )
Repayment of senior notes | (592,645 | ) |  | — |  |  | — |  |  | — |  |  | (592,645 | )
Payments on mortgages and land contracts due to land sellers and other loans | — |  |  | (26,298 | ) |  | — |  |  | — |  |  | (26,298 | )
Issuance of common stock under employee stock plans | 593 |  |  | — |  |  | — |  |  | — |  |  | 593 |
Payments of cash dividends | (10,599 | ) |  | — |  |  | — |  |  | — |  |  | (10,599 | )
Stock repurchases | (1,799 | ) |  | — |  |  | — |  |  | — |  |  | (1,799 | )
Intercompany | — |  |  | 8,929 |  |  | (8,666 | ) |  | (263 | ) |  | — |
Net cash provided by (used in) financing activities | 100,055 |  |  | (17,369 | ) |  | (8,666 | ) |  | (263 | ) |  | 73,757 |
Net increase (decrease) in cash and cash equivalents | 116,050 |  |  | 3,751 |  |  | (12,187 | ) |  | — |  |  | 107,614 |
Cash and cash equivalents at beginning of year | 340,957 |  |  | 45,781 |  |  | 31,336 |  |  | — |  |  | 418,074 |
Cash and cash equivalents at end of year | $ | 457,007 |  |  | $ | 49,532 |  |  | $ | 19,149 |  |  | $ | — |  |  | $ | 525,688 |

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- Definition The entire disclosure for each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties. + References No definition available. + Details
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