XML 55 R43.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Supplemental Guarantor Information (Tables) | 3 Months Ended
--- | ---
Feb. 28, 2018
Guarantees [Abstract] |
Condensed Consolidated Statements of Operations |
| Three Months Ended February 28, 2018
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Total revenues | $ | — |  |  | $ | 775,695 |  |  | $ | 95,928 |  |  | $ | — |  |  | $ | 871,623 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 775,695 |  |  | $ | 93,510 |  |  | $ | — |  |  | $ | 869,205 |
Construction and land costs | — |  |  | (648,119 | ) |  | (81,359 | ) |  | — |  |  | (729,478 | )
Selling, general and administrative expenses | (22,166 | ) |  | (65,841 | ) |  | (7,717 | ) |  | — |  |  | (95,724 | )
Operating income (loss) | (22,166 | ) |  | 61,735 |  |  | 4,434 |  |  | — |  |  | 44,003 |
Interest income | 998 |  |  | 5 |  |  | — |  |  | — |  |  | 1,003 |
Interest expense | (37,972 | ) |  | (689 | ) |  | (1,283 | ) |  | 39,944 |  |  | — |
Intercompany interest | 72,846 |  |  | (30,499 | ) |  | (2,403 | ) |  | (39,944 | ) |  | — |
Equity in loss of unconsolidated joint ventures | — |  |  | (845 | ) |  | — |  |  | — |  |  | (845 | )
Homebuilding pretax income | 13,706 |  |  | 29,707 |  |  | 748 |  |  | — |  |  | 44,161 |
Financial services pretax income | — |  |  | — |  |  | 1,884 |  |  | — |  |  | 1,884 |
Total pretax income | 13,706 |  |  | 29,707 |  |  | 2,632 |  |  | — |  |  | 46,045 |
Income tax expense | (44,700 | ) |  | (48,100 | ) |  | (24,500 | ) |  | — |  |  | (117,300 | )
Equity in net loss of subsidiaries | (40,261 | ) |  | — |  |  | — |  |  | 40,261 |  |  | — |
Net loss | $ | (71,255 | ) |  | $ | (18,393 | ) |  | $ | (21,868 | ) |  | $ | 40,261 |  |  | $ | (71,255 | )
| Three Months Ended February 28, 2017
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
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 |
Condensed Consolidated Balance Sheets | Condensed Consolidating Balance Sheets (in thousands)
| February 28, 2018
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Assets |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 455,629 |  |  | $ | 72,731 |  |  | $ | 31,895 |  |  | $ | — |  |  | $ | 560,255 |
Receivables | 4,309 |  |  | 170,217 |  |  | 75,946 |  |  | — |  |  | 250,472 |
Inventories | — |  |  | 3,100,304 |  |  | 341,270 |  |  | — |  |  | 3,441,574 |
Investments in unconsolidated joint ventures | — |  |  | 65,672 |  |  | 2,504 |  |  | — |  |  | 68,176 |
Deferred tax assets, net | 206,206 |  |  | 195,606 |  |  | 114,757 |  |  | — |  |  | 516,569 |
Other assets | 97,950 |  |  | 8,109 |  |  | 2,439 |  |  | — |  |  | 108,498 |
| 764,094 |  |  | 3,612,639 |  |  | 568,811 |  |  | — |  |  | 4,945,544 |
Financial services | — |  |  | — |  |  | 11,557 |  |  | — |  |  | 11,557 |
Intercompany receivables | 3,461,046 |  |  | — |  |  | 120,795 |  |  | (3,581,841 | ) |  | — |
Investments in subsidiaries | 84,467 |  |  | — |  |  | — |  |  | (84,467 | ) |  | — |
Total assets | $ | 4,309,607 |  |  | $ | 3,612,639 |  |  | $ | 701,163 |  |  | $ | (3,666,308 | ) |  | $ | 4,957,101 |
Liabilities and stockholders’ equity |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 136,816 |  |  | $ | 364,322 |  |  | $ | 242,774 |  |  | $ | — |  |  | $ | 743,912 |
Notes payable | 2,290,922 |  |  | 43,541 |  |  | 25,107 |  |  | — |  |  | 2,359,570 |
| 2,427,738 |  |  | 407,863 |  |  | 267,881 |  |  | — |  |  | 3,103,482 |
Financial services | — |  |  | — |  |  | 897 |  |  | — |  |  | 897 |
Intercompany payables | 29,147 |  |  | 3,175,070 |  |  | 377,624 |  |  | (3,581,841 | ) |  | — |
Stockholders’ equity | 1,852,722 |  |  | 29,706 |  |  | 54,761 |  |  | (84,467 | ) |  | 1,852,722 |
Total liabilities and stockholders’ equity | $ | 4,309,607 |  |  | $ | 3,612,639 |  |  | $ | 701,163 |  |  | $ | (3,666,308 | ) |  | $ | 4,957,101 |
| November 30, 2017
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Assets |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 575,193 |  |  | $ | 102,661 |  |  | $ | 42,776 |  |  | $ | — |  |  | $ | 720,630 |
Receivables | 24,815 |  |  | 144,076 |  |  | 75,322 |  |  | — |  |  | 244,213 |
Inventories | — |  |  | 2,929,466 |  |  | 333,920 |  |  | — |  |  | 3,263,386 |
Investments in unconsolidated joint ventures | — |  |  | 62,290 |  |  | 2,504 |  |  | — |  |  | 64,794 |
Deferred tax assets, net | 250,747 |  |  | 243,523 |  |  | 139,367 |  |  | — |  |  | 633,637 |
Other assets | 91,592 |  |  | 8,424 |  |  | 2,482 |  |  | — |  |  | 102,498 |
| 942,347 |  |  | 3,490,440 |  |  | 596,371 |  |  | — |  |  | 5,029,158 |
Financial services | — |  |  | — |  |  | 12,357 |  |  | — |  |  | 12,357 |
Intercompany receivables | 3,414,237 |  |  | — |  |  | 107,992 |  |  | (3,522,229 | ) |  | — |
Investments in subsidiaries | 49,776 |  |  | — |  |  | — |  |  | (49,776 | ) |  | — |
Total assets | $ | 4,406,360 |  |  | $ | 3,490,440 |  |  | $ | 716,720 |  |  | $ | (3,572,005 | ) |  | $ | 5,041,515 |
Liabilities and stockholders’ equity |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 163,984 |  |  | $ | 371,909 |  |  | $ | 253,500 |  |  | $ | — |  |  | $ | 789,393 |
Notes payable | 2,289,532 |  |  | 9,283 |  |  | 26,030 |  |  | — |  |  | 2,324,845 |
| 2,453,516 |  |  | 381,192 |  |  | 279,530 |  |  | — |  |  | 3,114,238 |
Financial services | — |  |  | — |  |  | 966 |  |  | — |  |  | 966 |
Intercompany payables | 26,533 |  |  | 3,109,248 |  |  | 386,448 |  |  | (3,522,229 | ) |  | — |
Stockholders’ equity | 1,926,311 |  |  | — |  |  | 49,776 |  |  | (49,776 | ) |  | 1,926,311 |
Total liabilities and stockholders’ equity | $ | 4,406,360 |  |  | $ | 3,490,440 |  |  | $ | 716,720 |  |  | $ | (3,572,005 | ) |  | $ | 5,041,515 |
Condensed Consolidated Statements of Cash Flows | Condensed Consolidating Statements of Cash Flows (in thousands)
| Three Months Ended February 28, 2018
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net cash provided by (used in) operating activities | $ | 3,066 |  |  | $ | (134,364 | ) |  | $ | (10,382 | ) |  | $ | — |  |  | $ | (141,680 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Contributions to unconsolidated joint ventures | — |  |  | (8,025 | ) |  | — |  |  | — |  |  | (8,025 | )
Return of investments in unconsolidated joint ventures | — |  |  | 1,099 |  |  | — |  |  | — |  |  | 1,099 |
Purchases of property and equipment, net | (1,776 | ) |  | (125 | ) |  | (23 | ) |  | — |  |  | (1,924 | )
Intercompany | (114,691 | ) |  | — |  |  | — |  |  | 114,691 |  |  | — |
Net cash used in investing activities | (116,467 | ) |  | (7,051 | ) |  | (23 | ) |  | 114,691 |  |  | (8,850 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Payments on mortgages and land contracts due to land sellers and other loans | — |  |  | (2,442 | ) |  | (920 | ) |  | — |  |  | (3,362 | )
Issuance of common stock under employee stock plans | 2,946 |  |  | — |  |  | — |  |  | — |  |  | 2,946 |
Payments of cash dividends | (2,322 | ) |  | — |  |  | — |  |  | — |  |  | (2,322 | )
Stock repurchases | (6,787 | ) |  | — |  |  | — |  |  | — |  |  | (6,787 | )
Intercompany | — |  |  | 113,927 |  |  | 764 |  |  | (114,691 | ) |  | — |
Net cash provided by (used in) financing activities | (6,163 | ) |  | 111,485 |  |  | (156 | ) |  | (114,691 | ) |  | (9,525 | )
Net decrease in cash and cash equivalents | (119,564 | ) |  | (29,930 | ) |  | (10,561 | ) |  | — |  |  | (160,055 | )
Cash and cash equivalents at beginning of period | 575,193 |  |  | 102,661 |  |  | 43,007 |  |  | — |  |  | 720,861 |
Cash and cash equivalents at end of period | $ | 455,629 |  |  | $ | 72,731 |  |  | $ | 32,446 |  |  | $ | — |  |  | $ | 560,806 |
| 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 |

X
- References No definition available. + Details
Name: | us-gaap_GuaranteesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration