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Supplemental Guarantor Information (Tables) | 3 Months Ended
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Feb. 28, 2015
Guarantees [Abstract] |
Condensed Consolidated Statements of Operations | Condensed Consolidating Statement of Operations Three Months Ended February 28, 2015 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Revenues | $ | — |  |  | $ | 534,276 |  |  | $ | 45,845 |  |  | $ | — |  |  | $ | 580,121 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 534,276 |  |  | $ | 43,612 |  |  | $ | — |  |  | $ | 577,888 |
Construction and land costs | — |  |  | (451,140 | ) |  | (41,278 | ) |  | — |  |  | (492,418 | )
Selling, general and administrative expenses | (15,672 | ) |  | (48,504 | ) |  | (6,896 | ) |  | — |  |  | (71,072 | )
Operating income (loss) | (15,672 | ) |  | 34,632 |  |  | (4,562 | ) |  | — |  |  | 14,398 |
Interest income | 101 |  |  | 1 |  |  | 1 |  |  | — |  |  | 103 |
Interest expense | (43,580 | ) |  | (1,460 | ) |  | — |  |  | 39,702 |  |  | (5,338 | )
Intercompany interest | 70,468 |  |  | (28,406 | ) |  | (2,360 | ) |  | (39,702 | ) |  | — |
Equity in loss of unconsolidated joint ventures | — |  |  | (347 | ) |  | — |  |  | — |  |  | (347 | )
Homebuilding pretax income (loss) | 11,317 |  |  | 4,420 |  |  | (6,921 | ) |  | — |  |  | 8,816 |
Financial services pretax income | — |  |  | — |  |  | 1,683 |  |  | — |  |  | 1,683 |
Total pretax income (loss) | 11,317 |  |  | 4,420 |  |  | (5,238 | ) |  | — |  |  | 10,499 |
Income tax benefit (expense) | 200 |  |  | (3,100 | ) |  | 200 |  |  | — |  |  | (2,700 | )
Equity in net loss of subsidiaries | (3,718 | ) |  | — |  |  | — |  |  | 3,718 |  |  | — |
Net income (loss) | $ | 7,799 |  |  | $ | 1,320 |  |  | $ | (5,038 | ) |  | $ | 3,718 |  |  | $ | 7,799 |
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 | $ | — |  |  | $ | 392,178 |  |  | $ | 58,509 |  |  | $ | — |  |  | $ | 450,687 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 392,178 |  |  | $ | 56,089 |  |  | $ | — |  |  | $ | 448,267 |
Construction and land costs | — |  |  | (321,352 | ) |  | (47,922 | ) |  | — |  |  | (369,274 | )
Selling, general and administrative expenses | (15,744 | ) |  | (37,081 | ) |  | (8,449 | ) |  | — |  |  | (61,274 | )
Operating income (loss) | (15,744 | ) |  | 33,745 |  |  | (282 | ) |  | — |  |  | 17,719 |
Interest income | 167 |  |  | 1 |  |  | — |  |  | — |  |  | 168 |
Interest expense | (38,008 | ) |  | (1,272 | ) |  | — |  |  | 28,004 |  |  | (11,276 | )
Intercompany interest | 59,722 |  |  | (30,074 | ) |  | (1,644 | ) |  | (28,004 | ) |  | — |
Equity in income (loss) of unconsolidated joint ventures | — |  |  | (703 | ) |  | 3,293 |  |  | — |  |  | 2,590 |
Homebuilding pretax income | 6,137 |  |  | 1,697 |  |  | 1,367 |  |  | — |  |  | 9,201 |
Financial services pretax income | — |  |  | — |  |  | 1,562 |  |  | — |  |  | 1,562 |
Total pretax income | 6,137 |  |  | 1,697 |  |  | 2,929 |  |  | — |  |  | 10,763 |
Income tax expense | — |  |  | (200 | ) |  | — |  |  | — |  |  | (200 | )
Equity in net income of subsidiaries | 4,426 |  |  | — |  |  | — |  |  | (4,426 | ) |  | — |
Net income | $ | 10,563 |  |  | $ | 1,497 |  |  | $ | 2,929 |  |  | $ | (4,426 | ) |  | $ | 10,563 |
Condensed Consolidated Balance Sheets | Condensed Consolidating Balance Sheet February 28, 2015 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Assets |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 472,130 |  |  | $ | 66,305 |  |  | $ | 7,206 |  |  | $ | — |  |  | $ | 545,641 |
Restricted cash | 27,984 |  |  | — |  |  | — |  |  | — |  |  | 27,984 |
Receivables | 293 |  |  | 140,849 |  |  | 2,555 |  |  | — |  |  | 143,697 |
Inventories | — |  |  | 2,999,424 |  |  | 246,959 |  |  | — |  |  | 3,246,383 |
Investments in unconsolidated joint ventures | — |  |  | 73,502 |  |  | — |  |  | — |  |  | 73,502 |
Deferred tax assets, net | 216,092 |  |  | 549,546 |  |  | 56,994 |  |  | — |  |  | 822,632 |
Other assets | 104,420 |  |  | 13,558 |  |  | 1,895 |  |  | — |  |  | 119,873 |
| 820,919 |  |  | 3,843,184 |  |  | 315,609 |  |  | — |  |  | 4,979,712 |
Financial services | — |  |  | — |  |  | 10,145 |  |  | — |  |  | 10,145 |
Intercompany receivables | 3,660,500 |  |  | — |  |  | 109,129 |  |  | (3,769,629 | ) |  | — |
Investments in subsidiaries | 37,488 |  |  | — |  |  | — |  |  | (37,488 | ) |  | — |
Total assets | $ | 4,518,907 |  |  | $ | 3,843,184 |  |  | $ | 434,883 |  |  | $ | (3,807,117 | ) |  | $ | 4,989,857 |
Liabilities and stockholders’ equity |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 131,682 |  |  | $ | 327,964 |  |  | $ | 99,501 |  |  | $ | — |  |  | $ | 559,147 |
Notes payable | 2,763,532 |  |  | 60,638 |  |  | — |  |  | — |  |  | 2,824,170 |
| 2,895,214 |  |  | 388,602 |  |  | 99,501 |  |  | — |  |  | 3,383,317 |
Financial services | — |  |  | — |  |  | 1,970 |  |  | — |  |  | 1,970 |
Intercompany payables | 19,123 |  |  | 3,453,262 |  |  | 297,244 |  |  | (3,769,629 | ) |  | — |
Stockholders’ equity | 1,604,570 |  |  | 1,320 |  |  | 36,168 |  |  | (37,488 | ) |  | 1,604,570 |
Total liabilities and stockholders’ equity | $ | 4,518,907 |  |  | $ | 3,843,184 |  |  | $ | 434,883 |  |  | $ | (3,807,117 | ) |  | $ | 4,989,857 |
Condensed Consolidating Balance Sheet November 30, 2014 (in thousands)
| 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 Consolidated Statements of Cash Flows | Condensed Consolidating Statement of Cash Flows Three Months Ended February 28, 2015 (in thousands)
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net cash provided by (used in) operating activities | $ | 5,369 |  |  | $ | (30,016 | ) |  | $ | (24,262 | ) |  | $ | — |  |  | $ | (48,909 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Contributions to unconsolidated joint ventures | — |  |  | (2,414 | ) |  | — |  |  | — |  |  | (2,414 | )
Purchases of property and equipment, net | (37 | ) |  | (528 | ) |  | (21 | ) |  | — |  |  | (586 | )
Intercompany | (83,524 | ) |  | — |  |  | — |  |  | 83,524 |  |  | — |
Net cash used in investing activities | (83,561 | ) |  | (2,942 | ) |  | (21 | ) |  | 83,524 |  |  | (3,000 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Change in restricted cash | (749 | ) |  | — |  |  | — |  |  | — |  |  | (749 | )
Proceeds from issuance of debt | 250,000 |  |  | — |  |  | — |  |  | — |  |  | 250,000 |
Payment of debt issuance costs | (2,989 | ) |  | — |  |  | — |  |  | — |  |  | (2,989 | )
Payments on mortgages and land contracts due to land sellers and other loans | — |  |  | (2,722 | ) |  | — |  |  | — |  |  | (2,722 | )
Payments of cash dividends | (2,299 | ) |  | — |  |  | — |  |  | — |  |  | (2,299 | )
Stock repurchases | (21 | ) |  | — |  |  | — |  |  | — |  |  | (21 | )
Intercompany | — |  |  | 66,961 |  |  | 16,563 |  |  | (83,524 | ) |  | — |
Net cash provided by financing activities | 243,942 |  |  | 64,239 |  |  | 16,563 |  |  | (83,524 | ) |  | 241,220 |
Net increase (decrease) in cash and cash equivalents | 165,750 |  |  | 31,281 |  |  | (7,720 | ) |  | — |  |  | 189,311 |
Cash and cash equivalents at beginning of period | 303,280 |  |  | 38,124 |  |  | 17,364 |  |  | — |  |  | 358,768 |
Cash and cash equivalents at end of period | $ | 469,030 |  |  | $ | 69,405 |  |  | $ | 9,644 |  |  | $ | — |  |  | $ | 548,079 |
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 | $ | 25,325 |  |  | $ | (238,244 | ) |  | $ | (8,144 | ) |  | $ | — |  |  | $ | (221,063 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Contributions to unconsolidated joint ventures | — |  |  | (8,370 | ) |  | (248 | ) |  | — |  |  | (8,618 | )
Proceeds from sale of investment in unconsolidated joint venture | — |  |  | — |  |  | 10,110 |  |  | — |  |  | 10,110 |
Purchases of property and equipment, net | (70 | ) |  | (1,107 | ) |  | (399 | ) |  | — |  |  | (1,576 | )
Intercompany | (265,597 | ) |  | — |  |  | — |  |  | 265,597 |  |  | — |
Net cash provided by (used in) investing activities | (265,667 | ) |  | (9,477 | ) |  | 9,463 |  |  | 265,597 |  |  | (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 | — |  |  | 268,173 |  |  | (2,576 | ) |  | (265,597 | ) |  | — |
Net cash provided by (used in) financing activities | (2,271 | ) |  | 265,518 |  |  | (2,576 | ) |  | (265,597 | ) |  | (4,926 | )
Net increase (decrease) in cash and cash equivalents | (242,613 | ) |  | 17,797 |  |  | (1,257 | ) |  | — |  |  | (226,073 | )
Cash and cash equivalents at beginning of period | 476,847 |  |  | 39,952 |  |  | 15,724 |  |  | — |  |  | 532,523 |
Cash and cash equivalents at end of period | $ | 234,234 |  |  | $ | 57,749 |  |  | $ | 14,467 |  |  | $ | — |  |  | $ | 306,450 |

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