Supplemental Guarantor Information (Tables)

12 Months Ended

Nov. 30, 2016

Condensed Consolidating Statements of Operations

Condensed Consolidating Statements of Operations (in thousands)



	Year Ended November 30, 2016
	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Revenues	$	—		$	3,169,545		$	425,101		$	—		$	3,594,646
Homebuilding:
Revenues	$	—		$	3,169,545		$	413,398		$	—		$	3,582,943
Construction and land costs	—			(2,661,888		)	(379,213		)	—			(3,041,101		)
Selling, general and administrative expenses	(91,859		)	(251,384		)	(46,198		)	—			(389,441		)
Operating income (loss)	(91,859		)	256,273			(12,013		)	—			152,401
Interest income	470			55			4			—			529
Interest expense	(177,329		)	(3,958		)	(3,946		)	179,333			(5,900		)
Intercompany interest	301,432			(107,388		)	(14,711		)	(179,333		)	—
Equity in loss of unconsolidated joint ventures	—			(2,179		)	(2		)	—			(2,181		)
Homebuilding pretax income (loss)	32,714			142,803			(30,668		)	—			144,849
Financial services pretax income	—			—			4,466			—			4,466
Total pretax income (loss)	32,714			142,803			(26,202		)	—			149,315
Income tax benefit (expense)	17,200			(52,700		)	(8,200		)	—			(43,700		)
Equity in net income of subsidiaries	55,701			—			—			(55,701		)	—
Net income (loss)	$	105,615		$	90,103		$	(34,402	)	$	(55,701	)	$	105,615



	Year Ended November 30, 2015
	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Revenues	$	—		$	2,640,678		$	391,352		$	—		$	3,032,030
Homebuilding:
Revenues	$	—		$	2,640,678		$	380,309		$	—		$	3,020,987
Construction and land costs	—			(2,196,228		)	(343,140		)	—			(2,539,368		)
Selling, general and administrative expenses	(86,053		)	(213,292		)	(43,653		)	—			(342,998		)
Operating income (loss)	(86,053		)	231,158			(6,484		)	—			138,621
Interest income	451			6			1			—			458
Interest expense	(180,701		)	(6,184		)	—			165,029			(21,856		)
Intercompany interest	289,727			(101,540		)	(23,158		)	(165,029		)	—
Equity in loss of unconsolidated joint ventures	—			(1,803		)	(1		)	—			(1,804		)
Homebuilding pretax income (loss)	23,424			121,637			(29,642		)	—			115,419
Financial services pretax income	—			—			11,624			—			11,624
Total pretax income (loss)	23,424			121,637			(18,018		)	—			127,043
Income tax benefit (expense)	2,000			(46,700		)	2,300			—			(42,400		)
Equity in net income of subsidiaries	59,219			—			—			(59,219		)	—
Net income (loss)	$	84,643		$	74,937		$	(15,718	)	$	(59,219	)	$	84,643



	Year Ended November 30, 2014
	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Revenues	$	—		$	2,017,170		$	383,779		$	—		$	2,400,949
Homebuilding:
Revenues	$	—		$	2,017,170		$	372,473		$	—		$	2,389,643
Construction and land costs	—			(1,658,925		)	(326,726		)	—			(1,985,651		)
Selling, general and administrative expenses	(68,717		)	(176,795		)	(42,511		)	—			(288,023		)
Operating income (loss)	(68,717		)	181,450			3,236			—			115,969
Interest income	432			9			2			—			443
Interest expense	(165,485		)	(6,056		)	—			140,791			(30,750		)
Intercompany interest	287,017			(118,901		)	(27,325		)	(140,791		)	—
Equity in income (loss) of unconsolidated joint ventures	—			(2,549		)	3,290			—			741
Homebuilding pretax income (loss)	53,247			53,953			(20,797		)	—			86,403
Financial services pretax income	—			—			8,546			—			8,546
Total pretax income (loss)	53,247			53,953			(12,251		)	—			94,949
Income tax benefit	215,691			507,997			99,712			—			823,400
Equity in net income of subsidiaries	649,411			—			—			(649,411		)	—
Net income	$	918,349		$	561,950		$	87,461		$	(649,411	)	$	918,349

Condensed Consolidating Statements of Comprehensive Income (Loss)

Condensed Consolidating Statements of Comprehensive Income (Loss) (in thousands)



	Year Ended November 30, 2016
	KB Home Corporate			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Net income (loss)	$	105,615		$	90,103	$	(34,402	)	$	(55,701	)	$	105,615
Other comprehensive income:
Postretirement benefit plan adjustments	2,103			—		—			—			2,103
Other comprehensive income before tax	2,103			—		—			—			2,103
Income tax expense related to items of other comprehensive income	(841		)	—		—			—			(841		)
Other comprehensive income, net of tax	1,262			—		—			—			1,262
Comprehensive income (loss)	$	106,877		$	90,103	$	(34,402	)	$	(55,701	)	$	106,877

	Year Ended November 30, 2015
	KB Home Corporate			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Net income (loss)	$	84,643		$	74,937	$	(15,718	)	$	(59,219	)	$	84,643
Other comprehensive income:
Postretirement benefit plan adjustments	6,149			—		—			—			6,149
Other comprehensive income before tax	6,149			—		—			—			6,149
Income tax expense related to items of other comprehensive income	(2,460		)	—		—			—			(2,460		)
Other comprehensive income, net of tax	3,689			—		—			—			3,689
Comprehensive income (loss)	$	88,332		$	74,937	$	(15,718	)	$	(59,219	)	$	88,332



	Year Ended November 30, 2014
	KB Home Corporate			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Total
Net income	$	918,349		$	561,950	$	87,461	$	(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		$	561,950	$	87,461	$	(649,411	)	$	914,857

Condensed Consolidating Balance Sheets

Condensed Consolidating Balance Sheets (in thousands)



	November 30, 2016
	KB Home Corporate		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Total
Assets
Homebuilding:
Cash and cash equivalents	$	463,100	$	100,439	$	28,547	$	—		$	592,086
Restricted cash	—		—		—		—			—
Receivables	4,807		135,915		90,943		—			231,665
Inventories	—		3,048,132		355,096		—			3,403,228
Investments in unconsolidated joint ventures	—		61,517		2,499		—			64,016
Deferred tax assets, net	276,737		318,077		144,171		—			738,985
Other assets	79,526		9,177		2,442		—			91,145
	824,170		3,673,257		623,698		—			5,121,125
Financial services	—		—		10,499		—			10,499
Intercompany receivables	3,559,012		—		97,062		(3,656,074		)	—
Investments in subsidiaries	35,965		—		—		(35,965		)	—
Total assets	$	4,419,147	$	3,673,257	$	731,259	$	(3,692,039	)	$	5,131,624
Liabilities and stockholders’ equity
Homebuilding:
Accounts payable, accrued expenses and other liabilities	$	131,530	$	397,605	$	237,192	$	—		$	766,327
Notes payable	2,548,112		66,927		25,110		—			2,640,149
	2,679,642		464,532		262,302		—			3,406,476
Financial services	—		—		2,003		—			2,003
Intercompany payables	16,360		3,208,725		430,989		(3,656,074		)	—
Stockholders’ equity	1,723,145		—		35,965		(35,965		)	1,723,145
Total liabilities and stockholders’ equity	$	4,419,147	$	3,673,257	$	731,259	$	(3,692,039	)	$	5,131,624



	November 30, 2015
	KB Home Corporate		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Total
Assets
Homebuilding:
Cash and cash equivalents	$	444,850	$	96,741	$	17,451	$	—		$	559,042
Restricted cash	9,344		—		—		—			9,344
Receivables	39		145,022		102,937		—			247,998
Inventories	—		2,900,202		413,545		—			3,313,747
Investments in unconsolidated joint ventures	—		69,057		2,501		—			71,558
Deferred tax assets, net	190,770		465,105		126,321		—			782,196
Other assets	73,808		11,198		3,986		—			88,992
	718,811		3,687,325		666,741		—			5,072,877
Financial services	—		—		14,028		—			14,028
Intercompany receivables	3,627,150		—		102,103		(3,729,253		)	—
Investments in subsidiaries	39,383		—		—		(39,383		)	—
Total assets	$	4,385,344	$	3,687,325	$	782,872	$	(3,768,636	)	$	5,086,905
Liabilities and stockholders’ equity
Homebuilding:
Accounts payable, accrued expenses and other liabilities	$	136,352	$	417,315	$	238,833	$	—		$	792,500
Notes payable	2,540,980		35,664		25,110		—			2,601,754
	2,677,332		452,979		263,943		—			3,394,254
Financial services	—		—		1,817		—			1,817
Intercompany payables	17,178		3,234,346		477,729		(3,729,253		)	—
Stockholders’ equity	1,690,834		—		39,383		(39,383		)	1,690,834
Total liabilities and stockholders’ equity	$	4,385,344	$	3,687,325	$	782,872	$	(3,768,636	)	$	5,086,905

Condensed Consolidating Statements of Cash Flows

Condensed Consolidating Statements of Cash Flows (in thousands)



	Year Ended November 30, 2016
	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Net cash provided by (used in) operating activities	$	(40,277	)	$	188,372		$	40,560		$	—		$	188,655
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	—			(4,852		)	(750		)	—			(5,602		)
Return of investments in unconsolidated joint ventures	—			4,307			—			—			4,307
Purchases of property and equipment, net	(4,052		)	(555		)	(177		)	—			(4,784		)
Intercompany	144,651			—			—			(144,651		)	—
Net cash provided by (used in) investing activities	140,599			(1,100		)	(927		)	(144,651		)	(6,079		)
Cash flows from financing activities:
Change in restricted cash	9,344			—			—			—			9,344
Payments on mortgages and land contracts due to land sellers and other loans	—			(67,845		)	—			—			(67,845		)
Issuance of common stock under employee stock plans	5,343			—			—			—			5,343
Excess tax benefits from stock-based compensation	186			—			—			—			186
Payments of cash dividends	(8,586		)	—			—			—			(8,586		)
Stock repurchases	(88,359		)	—			—			—			(88,359		)
Intercompany	—			(115,729		)	(28,922		)	144,651			—
Net cash used in financing activities	(82,072		)	(183,574		)	(28,922		)	144,651			(149,917		)
Net increase in cash and cash equivalents	18,250			3,698			10,711			—			32,659
Cash and cash equivalents at beginning of year	444,850			96,741			18,750			—			560,341
Cash and cash equivalents at end of year	$	463,100		$	100,439		$	29,461		$	—		$	593,000



	Year Ended November 30, 2015
	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Net cash provided by operating activities	$	44,422		$	110,688		$	26,075		$	—		$	181,185
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	—			(20,625		)	(1		)	—			(20,626		)
Return of investments in unconsolidated joint ventures	—			14,000			—			—			14,000
Purchases of property and equipment, net	(2,890		)	(1,271		)	(516		)	—			(4,677		)
Intercompany	45,470			—			—			(45,470		)	—
Net cash provided by (used in) investing activities	42,580			(7,896		)	(517		)	(45,470		)	(11,303		)
Cash flows from financing activities:
Change in restricted cash	17,891			—			—			—			17,891
Proceeds from issuance of debt	250,000			—			—			—			250,000
Payment of debt issuance costs	(4,561		)	—			—			—			(4,561		)
Repayment of senior notes	(199,906		)	—			—			—			(199,906		)
Payments on mortgages and land contracts due to land sellers and other loans	—			(22,877		)	—			—			(22,877		)
Issuance of common stock under employee stock plans	740			—			—			—			740
Excess tax benefits from stock-based compensation	157			—			—			—			157
Payments of cash dividends	(9,186		)	—			—			—			(9,186		)
Stock repurchases	(567		)	—			—			—			(567		)
Intercompany	—			(19,586		)	(25,884		)	45,470			—
Net cash provided by (used in) financing activities	54,568			(42,463		)	(25,884		)	45,470			31,691
Net increase (decrease) in cash and cash equivalents	141,570			60,329			(326		)	—			201,573
Cash and cash equivalents at beginning of year	303,280			36,412			19,076			—			358,768
Cash and cash equivalents at end of year	$	444,850		$	96,741		$	18,750		$	—		$	560,341



	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		$	(641,728	)	$	(71,592	)	$	—		$	(630,691	)
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	—			(48,846		)	(251		)	—			(49,097		)
Proceeds from sale of investment in unconsolidated joint venture	—			—			10,110			—			10,110
Purchases of property and equipment, net	(208		)	(4,145		)	(1,442		)	—			(5,795		)
Intercompany	(794,624		)	—			—			794,624			—
Net cash provided by (used in) investing activities	(794,832		)	(52,991		)	8,417			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	—			730,719			63,905			(794,624		)	—
Net cash provided by financing activities	538,636			693,801			63,905			(794,624		)	501,718
Net increase (decrease) in cash and cash equivalents	(173,567		)	(918		)	730			—			(173,755		)
Cash and cash equivalents at beginning of year	476,847			37,330			18,346			—			532,523
Cash and cash equivalents at end of year	$	303,280		$	36,412		$	19,076		$	—		$	358,768