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Supplemental Guarantor Information (Tables) | 3 Months Ended
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Feb. 28, 2017
Guarantees [Abstract] |
Condensed Consolidated Statements of Operations |
Condensed Consolidating Statements of Operations (in thousands)
| Three Months Ended February 28, 2017
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Revenues | $ | — |  |  | $ | 729,927 |  |  | $ | 88,669 |  |  | $ | — |  |  | $ | 818,596 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 729,927 |  |  | $ | 86,319 |  |  | $ | — |  |  | $ | 816,246 |
Construction and land costs | — |  |  | (618,452 | ) |  | (79,628 | ) |  | — |  |  | (698,080 | )
Selling, general and administrative expenses | (22,267 | ) |  | (62,898 | ) |  | (7,724 | ) |  | — |  |  | (92,889 | )
Operating income (loss) | (22,267 | ) |  | 48,577 |  |  | (1,033 | ) |  | — |  |  | 25,277 |
Interest income | 197 |  |  | 1 |  |  | — |  |  | — |  |  | 198 |
Interest expense | (48,349 | ) |  | (568 | ) |  | (1,162 | ) |  | 43,772 |  |  | (6,307 | )
Intercompany interest | 73,493 |  |  | (26,603 | ) |  | (3,118 | ) |  | (43,772 | ) |  | — |
Equity in income of unconsolidated joint ventures | — |  |  | 731 |  |  | — |  |  | — |  |  | 731 |
Homebuilding pretax income (loss) | 3,074 |  |  | 22,138 |  |  | (5,313 | ) |  | — |  |  | 19,899 |
Financial services pretax income | — |  |  | — |  |  | 1,560 |  |  | — |  |  | 1,560 |
Total pretax income (loss) | 3,074 |  |  | 22,138 |  |  | (3,753 | ) |  | — |  |  | 21,459 |
Income tax benefit (expense) | 1,300 |  |  | (8,800 | ) |  | 300 |  |  | — |  |  | (7,200 | )
Equity in net income of subsidiaries | 9,885 |  |  | — |  |  | — |  |  | (9,885 | ) |  | — |
Net income (loss) | $ | 14,259 |  |  | $ | 13,338 |  |  | $ | (3,453 | ) |  | $ | (9,885 | ) |  | $ | 14,259 |
| Three Months Ended February 29, 2016
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Revenues | $ | — |  |  | $ | 601,343 |  |  | $ | 77,028 |  |  | $ | — |  |  | $ | 678,371 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 601,343 |  |  | $ | 74,399 |  |  | $ | — |  |  | $ | 675,742 |
Construction and land costs | — |  |  | (500,964 | ) |  | (67,854 | ) |  | — |  |  | (568,818 | )
Selling, general and administrative expenses | (24,340 | ) |  | (53,464 | ) |  | (10,128 | ) |  | — |  |  | (87,932 | )
Operating income (loss) | (24,340 | ) |  | 46,915 |  |  | (3,583 | ) |  | — |  |  | 18,992 |
Interest income | 134 |  |  | 18 |  |  | — |  |  | — |  |  | 152 |
Interest expense | (44,370 | ) |  | (820 | ) |  | (1,061 | ) |  | 42,554 |  |  | (3,697 | )
Intercompany interest | 74,043 |  |  | (27,508 | ) |  | (3,981 | ) |  | (42,554 | ) |  | — |
Equity in loss of unconsolidated joint ventures | — |  |  | (603 | ) |  | — |  |  | — |  |  | (603 | )
Homebuilding pretax income (loss) | 5,467 |  |  | 18,002 |  |  | (8,625 | ) |  | — |  |  | 14,844 |
Financial services pretax income | — |  |  | — |  |  | 1,183 |  |  | — |  |  | 1,183 |
Total pretax income (loss) | 5,467 |  |  | 18,002 |  |  | (7,442 | ) |  | — |  |  | 16,027 |
Income tax benefit (expense) | 700 |  |  | (3,900 | ) |  | 300 |  |  | — |  |  | (2,900 | )
Equity in net income of subsidiaries | 6,960 |  |  | — |  |  | — |  |  | (6,960 | ) |  | — |
Net income (loss) | $ | 13,127 |  |  | $ | 14,102 |  |  | $ | (7,142 | ) |  | $ | (6,960 | ) |  | $ | 13,127 |
Condensed Consolidated Balance Sheets | Condensed Consolidating Balance Sheets (in thousands)
| February 28, 2017
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Assets |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 257,656 |  |  | $ | 83,677 |  |  | $ | 10,547 |  |  | $ | — |  |  | $ | 351,880 |
Receivables | 4,833 |  |  | 143,517 |  |  | 90,008 |  |  | — |  |  | 238,358 |
Inventories | — |  |  | 3,072,225 |  |  | 351,119 |  |  | — |  |  | 3,423,344 |
Investments in unconsolidated joint ventures | — |  |  | 62,417 |  |  | 2,499 |  |  | — |  |  | 64,916 |
Deferred tax assets, net | 277,977 |  |  | 309,378 |  |  | 144,530 |  |  | — |  |  | 731,885 |
Other assets | 85,433 |  |  | 8,728 |  |  | 2,518 |  |  | — |  |  | 96,679 |
| 625,899 |  |  | 3,679,942 |  |  | 601,221 |  |  | — |  |  | 4,907,062 |
Financial services | — |  |  | — |  |  | 15,518 |  |  | — |  |  | 15,518 |
Intercompany receivables | 3,654,435 |  |  | — |  |  | 93,065 |  |  | (3,747,500 | ) |  | — |
Investments in subsidiaries | 55,813 |  |  | — |  |  | — |  |  | (55,813 | ) |  | — |
Total assets | $ | 4,336,147 |  |  | $ | 3,679,942 |  |  | $ | 709,804 |  |  | $ | (3,803,313 | ) |  | $ | 4,922,580 |
Liabilities and stockholders’ equity |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 134,143 |  |  | $ | 327,181 |  |  | $ | 219,069 |  |  | $ | — |  |  | $ | 680,393 |
Notes payable | 2,450,026 |  |  | 28,393 |  |  | 26,030 |  |  | — |  |  | 2,504,449 |
| 2,584,169 |  |  | 355,574 |  |  | 245,099 |  |  | — |  |  | 3,184,842 |
Financial services | — |  |  | — |  |  | 1,278 |  |  | — |  |  | 1,278 |
Intercompany payables | 15,518 |  |  | 3,302,230 |  |  | 429,752 |  |  | (3,747,500 | ) |  | — |
Stockholders’ equity | 1,736,460 |  |  | 22,138 |  |  | 33,675 |  |  | (55,813 | ) |  | 1,736,460 |
Total liabilities and stockholders’ equity | $ | 4,336,147 |  |  | $ | 3,679,942 |  |  | $ | 709,804 |  |  | $ | (3,803,313 | ) |  | $ | 4,922,580 |
| 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 |
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 |
Condensed Consolidated Statements of Cash Flows | Condensed Consolidating Statements of Cash Flows (in thousands)
| Three Months Ended February 28, 2017
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net cash provided by (used in) operating activities | $ | 11,773 |  |  | $ | (71,130 | ) |  | $ | (17,685 | ) |  | $ | — |  |  | $ | (77,042 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Contributions to unconsolidated joint ventures | — |  |  | (3,500 | ) |  | (5,250 | ) |  | — |  |  | (8,750 | )
Return of investments in unconsolidated joint ventures | — |  |  | 1,107 |  |  | — |  |  | — |  |  | 1,107 |
Purchases of property and equipment, net | (892 | ) |  | (113 | ) |  | (10 | ) |  | — |  |  | (1,015 | )
Intercompany | (106,903 | ) |  | — |  |  | — |  |  | 106,903 |  |  | — |
Net cash used in investing activities | (107,795 | ) |  | (2,506 | ) |  | (5,260 | ) |  | 106,903 |  |  | (8,658 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Repayment of senior notes | (105,326 | ) |  | — |  |  | — |  |  | — |  |  | (105,326 | )
Payments on mortgages and land contracts due to land sellers and other loans | — |  |  | (45,428 | ) |  | — |  |  | — |  |  | (45,428 | )
Issuance of common stock under employee stock plans | 662 |  |  | — |  |  | — |  |  | — |  |  | 662 |
Payments of cash dividends | (2,215 | ) |  | — |  |  | — |  |  | — |  |  | (2,215 | )
Stock repurchases | (2,543 | ) |  | — |  |  | — |  |  | — |  |  | (2,543 | )
Intercompany | — |  |  | 102,302 |  |  | 4,601 |  |  | (106,903 | ) |  | — |
Net cash provided by (used in) financing activities | (109,422 | ) |  | 56,874 |  |  | 4,601 |  |  | (106,903 | ) |  | (154,850 | )
Net decrease in cash and cash equivalents | (205,444 | ) |  | (16,762 | ) |  | (18,344 | ) |  | — |  |  | (240,550 | )
Cash and cash equivalents at beginning of period | 463,100 |  |  | 100,439 |  |  | 29,461 |  |  | — |  |  | 593,000 |
Cash and cash equivalents at end of period | $ | 257,656 |  |  | $ | 83,677 |  |  | $ | 11,117 |  |  | $ | — |  |  | $ | 352,450 |
| Three Months Ended February 29, 2016
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net cash provided by (used in) operating activities | $ | 13,908 |  |  | $ | (137,158 | ) |  | $ | (20,063 | ) |  | $ | — |  |  | $ | (143,313 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Contributions to unconsolidated joint ventures | — |  |  | (291 | ) |  | — |  |  | — |  |  | (291 | )
Purchases of property and equipment, net | (1,129 | ) |  | (265 | ) |  | (19 | ) |  | — |  |  | (1,413 | )
Intercompany | (115,459 | ) |  | — |  |  | — |  |  | 115,459 |  |  | — |
Net cash used in investing activities | (116,588 | ) |  | (556 | ) |  | (19 | ) |  | 115,459 |  |  | (1,704 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Change in restricted cash | 4,987 |  |  | — |  |  | — |  |  | — |  |  | 4,987 |
Payments on mortgages and land contracts due to land sellers and other loans | — |  |  | (5,659 | ) |  | — |  |  | — |  |  | (5,659 | )
Payments of cash dividends | (2,270 | ) |  | — |  |  | — |  |  | — |  |  | (2,270 | )
Stock repurchases | (87,526 | ) |  | — |  |  | — |  |  | — |  |  | (87,526 | )
Intercompany | — |  |  | 104,452 |  |  | 11,007 |  |  | (115,459 | ) |  | — |
Net cash provided by (used in) financing activities | (84,809 | ) |  | 98,793 |  |  | 11,007 |  |  | (115,459 | ) |  | (90,468 | )
Net decrease in cash and cash equivalents | (187,489 | ) |  | (38,921 | ) |  | (9,075 | ) |  | — |  |  | (235,485 | )
Cash and cash equivalents at beginning of period | 444,850 |  |  | 96,741 |  |  | 18,750 |  |  | — |  |  | 560,341 |
Cash and cash equivalents at end of period | $ | 257,361 |  |  | $ | 57,820 |  |  | $ | 9,675 |  |  | $ | — |  |  | $ | 324,856 |

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