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Supplemental Guarantor Information (Tables) | 6 Months Ended
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May 31, 2019
Guarantees [Abstract] |
Condensed Consolidated Statements of Operations | Condensed Consolidating Statements of Operations (in thousands)
| Three Months Ended May 31, 2019
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Total revenues | $ | — |  |  | $ | 932,945 |  |  | $ | 88,858 |  |  | $ | — |  |  | $ | 1,021,803 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 932,945 |  |  | $ | 85,726 |  |  | $ | — |  |  | $ | 1,018,671 |
Construction and land costs | — |  |  | (756,055 | ) |  | (87,689 | ) |  | — |  |  | (843,744 | )
Selling, general and administrative expenses | (27,506 | ) |  | (97,590 | ) |  | 2,268 |  |  | — |  |  | (122,828 | )
Operating income (loss) | (27,506 | ) |  | 79,300 |  |  | 305 |  |  | — |  |  | 52,099 |
Interest income | 395 |  |  | — |  |  | 44 |  |  | — |  |  | 439 |
Interest expense | (35,080 | ) |  | (134 | ) |  | (1,330 | ) |  | 36,544 |  |  | — |
Intercompany interest | 82,238 |  |  | (42,578 | ) |  | (3,116 | ) |  | (36,544 | ) |  | — |
Equity in loss of unconsolidated joint ventures | — |  |  | (369 | ) |  | — |  |  | — |  |  | (369 | )
Homebuilding pretax income (loss) | 20,047 |  |  | 36,219 |  |  | (4,097 | ) |  | — |  |  | 52,169 |
Financial services pretax income | — |  |  | — |  |  | 4,592 |  |  | — |  |  | 4,592 |
Total pretax income | 20,047 |  |  | 36,219 |  |  | 495 |  |  | — |  |  | 56,761 |
Income tax expense | (2,800 | ) |  | (3,000 | ) |  | (3,500 | ) |  | — |  |  | (9,300 | )
Equity in net income of subsidiaries | 30,214 |  |  | — |  |  | — |  |  | (30,214 | ) |  | — |
Net income (loss) | $ | 47,461 |  |  | $ | 33,219 |  |  | $ | (3,005 | ) |  | $ | (30,214 | ) |  | $ | 47,461 |
| Three Months Ended May 31, 2018
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Total revenues | $ | — |  |  | $ | 1,026,887 |  |  | $ | 74,536 |  |  | $ | — |  |  | $ | 1,101,423 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 1,026,887 |  |  | $ | 71,786 |  |  | $ | — |  |  | $ | 1,098,673 |
Construction and land costs | — |  |  | (844,637 | ) |  | (66,607 | ) |  | — |  |  | (911,244 | )
Selling, general and administrative expenses | (26,815 | ) |  | (78,823 | ) |  | (7,593 | ) |  | — |  |  | (113,231 | )
Operating income (loss) | (26,815 | ) |  | 103,427 |  |  | (2,414 | ) |  | — |  |  | 74,198 |
Interest income | 1,181 |  |  | 4 |  |  | 93 |  |  | — |  |  | 1,278 |
Interest expense | (37,942 | ) |  | (634 | ) |  | (1,348 | ) |  | 39,924 |  |  | — |
Intercompany interest | 75,277 |  |  | (32,791 | ) |  | (2,562 | ) |  | (39,924 | ) |  | — |
Equity in loss of unconsolidated joint ventures | — |  |  | (321 | ) |  | (1 | ) |  | — |  |  | (322 | )
Homebuilding pretax income (loss) | 11,701 |  |  | 69,685 |  |  | (6,232 | ) |  | — |  |  | 75,154 |
Financial services pretax income | — |  |  | — |  |  | 3,154 |  |  | — |  |  | 3,154 |
Total pretax income (loss) | 11,701 |  |  | 69,685 |  |  | (3,078 | ) |  | — |  |  | 78,308 |
Income tax expense | (2,400 | ) |  | (17,700 | ) |  | (900 | ) |  | — |  |  | (21,000 | )
Equity in net income of subsidiaries | 48,007 |  |  | — |  |  | — |  |  | (48,007 | ) |  | — |
Net income (loss) | $ | 57,308 |  |  | $ | 51,985 |  |  | $ | (3,978 | ) |  | $ | (48,007 | ) |  | $ | 57,308 |
Condensed Consolidated Balance Sheets | Condensed Consolidating Balance Sheets (in thousands)
| May 31, 2019
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Assets |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 94,391 |  |  | $ | 71,436 |  |  | $ | 13,049 |  |  | $ | — |  |  | $ | 178,876 |
Receivables | 4,192 |  |  | 225,448 |  |  | 70,068 |  |  | — |  |  | 299,708 |
Inventories | — |  |  | 3,496,318 |  |  | 284,535 |  |  | — |  |  | 3,780,853 |
Investments in unconsolidated joint ventures | — |  |  | 56,446 |  |  | — |  |  | — |  |  | 56,446 |
Property and equipment, net | 21,382 |  |  | 36,420 |  |  | 3,419 |  |  | — |  |  | 61,221 |
Deferred tax assets, net | 78,039 |  |  | 296,769 |  |  | 49,587 |  |  | — |  |  | 424,395 |
Other assets | 82,905 |  |  | 2,889 |  |  | 1,940 |  |  | — |  |  | 87,734 |
| 280,909 |  |  | 4,185,726 |  |  | 422,598 |  |  | — |  |  | 4,889,233 |
Financial services | — |  |  | — |  |  | 30,720 |  |  | — |  |  | 30,720 |
Intercompany receivables | 3,802,227 |  |  | — |  |  | 177,745 |  |  | (3,979,972 | ) |  | — |
Investments in subsidiaries | 95,776 |  |  | — |  |  | — |  |  | (95,776 | ) |  | — |
Total assets | $ | 4,178,912 |  |  | $ | 4,185,726 |  |  | $ | 631,063 |  |  | $ | (4,075,748 | ) |  | $ | 4,919,953 |
Liabilities and stockholders’ equity |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 114,162 |  |  | $ | 484,752 |  |  | $ | 269,822 |  |  | $ | — |  |  | $ | 868,736 |
Notes payable | 1,817,428 |  |  | 12,018 |  |  | 25,110 |  |  | — |  |  | 1,854,556 |
| 1,931,590 |  |  | 496,770 |  |  | 294,932 |  |  | — |  |  | 2,723,292 |
Financial services | — |  |  | — |  |  | 1,451 |  |  | — |  |  | 1,451 |
Intercompany payables | 52,112 |  |  | 3,688,956 |  |  | 238,904 |  |  | (3,979,972 | ) |  | — |
Stockholders’ equity | 2,195,210 |  |  | — |  |  | 95,776 |  |  | (95,776 | ) |  | 2,195,210 |
Total liabilities and stockholders’ equity | $ | 4,178,912 |  |  | $ | 4,185,726 |  |  | $ | 631,063 |  |  | $ | (4,075,748 | ) |  | $ | 4,919,953 |
| November 30, 2018
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Assets |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 429,977 |  |  | $ | 114,269 |  |  | $ | 30,113 |  |  | $ | — |  |  | $ | 574,359 |
Receivables | 5,135 |  |  | 198,465 |  |  | 89,230 |  |  | — |  |  | 292,830 |
Inventories | — |  |  | 3,314,386 |  |  | 268,453 |  |  | — |  |  | 3,582,839 |
Investments in unconsolidated joint ventures | — |  |  | 61,960 |  |  | — |  |  | — |  |  | 61,960 |
Property and equipment, net | 18,450 |  |  | 5,523 |  |  | 310 |  |  | — |  |  | 24,283 |
Deferred tax assets, net | 84,564 |  |  | 303,669 |  |  | 53,587 |  |  | — |  |  | 441,820 |
Other assets | 77,288 |  |  | 4,007 |  |  | 1,805 |  |  | — |  |  | 83,100 |
| 615,414 |  |  | 4,002,279 |  |  | 443,498 |  |  | — |  |  | 5,061,191 |
Financial services | — |  |  | — |  |  | 12,380 |  |  | — |  |  | 12,380 |
Intercompany receivables | 3,569,422 |  |  | — |  |  | 158,760 |  |  | (3,728,182 | ) |  | — |
Investments in subsidiaries | 67,657 |  |  | — |  |  | — |  |  | (67,657 | ) |  | — |
Total assets | $ | 4,252,493 |  |  | $ | 4,002,279 |  |  | $ | 614,638 |  |  | $ | (3,795,839 | ) |  | $ | 5,073,571 |
Liabilities and stockholders’ equity |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 126,176 |  |  | $ | 584,321 |  |  | $ | 213,816 |  |  | $ | — |  |  | $ | 924,313 |
Notes payable | 1,995,115 |  |  | 40,038 |  |  | 25,110 |  |  | — |  |  | 2,060,263 |
| 2,121,291 |  |  | 624,359 |  |  | 238,926 |  |  | — |  |  | 2,984,576 |
Financial services | — |  |  | — |  |  | 1,495 |  |  | — |  |  | 1,495 |
Intercompany payables | 43,702 |  |  | 3,377,920 |  |  | 306,560 |  |  | (3,728,182 | ) |  | — |
Stockholders’ equity | 2,087,500 |  |  | — |  |  | 67,657 |  |  | (67,657 | ) |  | 2,087,500 |
Total liabilities and stockholders’ equity | $ | 4,252,493 |  |  | $ | 4,002,279 |  |  | $ | 614,638 |  |  | $ | (3,795,839 | ) |  | $ | 5,073,571 |
Condensed Consolidated Statements of Cash Flows | Condensed Consolidating Statements of Cash Flows (in thousands)
| Six Months Ended May 31, 2019
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net cash provided by (used in) operating activities | $ | 35,547 |  |  | $ | (308,291 | ) |  | $ | 92,410 |  |  | $ | — |  |  | $ | (180,334 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Contributions to unconsolidated joint ventures | — |  |  | (4,245 | ) |  | — |  |  | — |  |  | (4,245 | )
Return of investments in unconsolidated joint ventures | — |  |  | 5,001 |  |  | — |  |  | — |  |  | 5,001 |
Proceeds from sale of building | — |  |  | 5,804 |  |  | — |  |  | — |  |  | 5,804 |
Purchases of property and equipment, net | (3,241 | ) |  | (11,360 | ) |  | (7,663 | ) |  | — |  |  | (22,264 | )
Intercompany | (196,595 | ) |  | — |  |  | — |  |  | 196,595 |  |  | — |
Net cash used in investing activities | (199,836 | ) |  | (4,800 | ) |  | (7,663 | ) |  | 196,595 |  |  | (15,704 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Proceeds from issuance of debt | 405,250 |  |  | — |  |  | — |  |  | — |  |  | 405,250 |
Payment of debt issuance costs | (5,209 | ) |  | — |  |  | — |  |  | — |  |  | (5,209 | )
Repayment of senior notes | (630,000 | ) |  | — |  |  | — |  |  | — |  |  | (630,000 | )
Borrowings under revolving credit facility | 330,000 |  |  | — |  |  | — |  |  | — |  |  | 330,000 |
Repayments under revolving credit facility | (280,000 | ) |  | — |  |  | — |  |  | — |  |  | (280,000 | )
Payments on mortgages and land contracts due to land sellers and other loans | — |  |  | (28,020 | ) |  | — |  |  | — |  |  | (28,020 | )
Issuance of common stock under employee stock plans | 16,462 |  |  | — |  |  | — |  |  | — |  |  | 16,462 |
Tax payments associated with stock-based compensation awards | (3,345 | ) |  | — |  |  | — |  |  | — |  |  | (3,345 | )
Payments of cash dividends | (4,455 | ) |  | — |  |  | — |  |  | — |  |  | (4,455 | )
Intercompany | — |  |  | 298,278 |  |  | (101,683 | ) |  | (196,595 | ) |  | — |
Net cash provided by (used in) financing activities | (171,297 | ) |  | 270,258 |  |  | (101,683 | ) |  | (196,595 | ) |  | (199,317 | )
Net decrease in cash and cash equivalents | (335,586 | ) |  | (42,833 | ) |  | (16,936 | ) |  | — |  |  | (395,355 | )
Cash and cash equivalents at beginning of period | 429,977 |  |  | 114,269 |  |  | 30,873 |  |  | — |  |  | 575,119 |
Cash and cash equivalents at end of period | $ | 94,391 |  |  | $ | 71,436 |  |  | $ | 13,937 |  |  | $ | — |  |  | $ | 179,764 |
| Six Months Ended May 31, 2018
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net cash provided by (used in) operating activities | $ | 18,931 |  |  | $ | (15,092 | ) |  | $ | (23,208 | ) |  | $ | — |  |  | $ | (19,369 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Contributions to unconsolidated joint ventures | — |  |  | (11,600 | ) |  | — |  |  | — |  |  | (11,600 | )
Return of investments in unconsolidated joint ventures | — |  |  | 1,099 |  |  | — |  |  | — |  |  | 1,099 |
Sale (purchases) of property and equipment, net | (3,102 | ) |  | (329 | ) |  | 4 |  |  | — |  |  | (3,427 | )
Intercompany | (42,380 | ) |  | — |  |  | — |  |  | 42,380 |  |  | — |
Net cash provided by (used in) investing activities | (45,482 | ) |  | (10,830 | ) |  | 4 |  |  | 42,380 |  |  | (13,928 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Payments on mortgages and land contracts due to land sellers and other loans | — |  |  | (9,574 | ) |  | (920 | ) |  | — |  |  | (10,494 | )
Issuance of common stock under employee stock plans | 4,771 |  |  | — |  |  | — |  |  | — |  |  | 4,771 |
Tax payments associated with stock-based compensation awards | (6,787 | ) |  | — |  |  | — |  |  | — |  |  | (6,787 | )
Payments of cash dividends | (4,500 | ) |  | — |  |  | — |  |  | — |  |  | (4,500 | )
Intercompany | — |  |  | 26,807 |  |  | 15,573 |  |  | (42,380 | ) |  | — |
Net cash provided by (used in) financing activities | (6,516 | ) |  | 17,233 |  |  | 14,653 |  |  | (42,380 | ) |  | (17,010 | )
Net decrease in cash and cash equivalents | (33,067 | ) |  | (8,689 | ) |  | (8,551 | ) |  | — |  |  | (50,307 | )
Cash and cash equivalents at beginning of period | 575,193 |  |  | 104,120 |  |  | 41,548 |  |  | — |  |  | 720,861 |
Cash and cash equivalents at end of period | $ | 542,126 |  |  | $ | 95,431 |  |  | $ | 32,997 |  |  | $ | — |  |  | $ | 670,554 |

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