XML 18 R22.htm IDEA: XBRL DOCUMENT
v3.19.3

Stockholders' Equity | 9 Months Ended
--- | ---
Aug. 31, 2019
Equity [Abstract] |
Stockholders’ Equity | Stockholders’ Equity A summary of changes in stockholders’ equity is presented below (in thousands):
| Three Months Ended August 31, 2019 and 2018
| Number of Shares |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Common Stock |  | Grantor Stock Ownership Trust |  | Treasury Stock |  | Common Stock |  | Paid-in Capital |  | Retained Earnings |  | Accumulated Other Comprehensive Loss |  | Grantor Stock Ownership Trust |  | Treasury Stock |  | Total Stockholders’ Equity
Balance at May 31, 2019 | 120,350 |  |  | (7,860 | ) |  | (24,264 | ) |  | $ | 120,350 |  |  | $ | 775,693 |  |  | $ | 1,981,795 |  |  | $ | (9,565 | ) |  | $ | (85,246 | ) |  | $ | (587,817 | ) |  | $ | 2,195,210 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 68,136 |  |  | — |  |  | — |  |  | — |  |  | 68,136 |
Dividends on common stock | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (7,897 | ) |  | — |  |  | — |  |  | — |  |  | (7,897 | )
Employee stock options/other | 173 |  |  | — |  |  | — |  |  | 173 |  |  | 2,094 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,267 |
Stock-based compensation | — |  |  | — |  |  | — |  |  | — |  |  | 4,513 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,513 |
Balance at August 31, 2019 | 120,523 |  |  | (7,860 | ) |  | (24,264 | ) |  | $ | 120,523 |  |  | $ | 782,300 |  |  | $ | 2,042,034 |  |  | $ | (9,565 | ) |  | $ | (85,246 | ) |  | $ | (587,817 | ) |  | $ | 2,262,229 |
Balance at May 31, 2018 | 118,397 |  |  | (8,460 | ) |  | (22,248 | ) |  | $ | 118,397 |  |  | $ | 736,047 |  |  | $ | 1,717,248 |  |  | $ | (16,924 | ) |  | $ | (91,760 | ) |  | $ | (548,365 | ) |  | $ | 1,914,643 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 87,476 |  |  | — |  |  | — |  |  | — |  |  | 87,476 |
Dividends on common stock | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2,186 | ) |  | — |  |  | — |  |  | — |  |  | (2,186 | )
Employee stock options/other | 652 |  |  | — |  |  | — |  |  | 652 |  |  | 12,010 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 12,662 |
Stock awards | — |  |  | — |  |  | 47 |  |  | — |  |  | (1,157 | ) |  | — |  |  | — |  |  | — |  |  | 1,157 |  |  | — |
Stock-based compensation | — |  |  | — |  |  | — |  |  | — |  |  | 3,354 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,354 |
Balance at August 31, 2018 | 119,049 |  |  | (8,460 | ) |  | (22,201 | ) |  | $ | 119,049 |  |  | $ | 750,254 |  |  | $ | 1,802,538 |  |  | $ | (16,924 | ) |  | $ | (91,760 | ) |  | $ | (547,208 | ) |  | $ | 2,015,949 |
| Nine Months Ended August 31, 2019 and 2018
| Number of Shares |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Common Stock |  | Grantor Stock Ownership Trust |  | Treasury Stock |  | Common Stock |  | Paid-in Capital |  | Retained Earnings |  | Accumulated Other Comprehensive Loss |  | Grantor Stock Ownership Trust |  | Treasury Stock |  | Total Stockholders’ Equity
Balance at November 30, 2018 | 119,196 |  |  | (8,157 | ) |  | (24,113 | ) |  | $ | 119,196 |  |  | $ | 753,570 |  |  | $ | 1,897,168 |  |  | $ | (9,565 | ) |  | $ | (88,472 | ) |  | $ | (584,397 | ) |  | $ | 2,087,500 |
Cumulative effect of adoption of ASC 606 | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 11,610 |  |  | — |  |  | — |  |  | — |  |  | 11,610 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 145,608 |  |  | — |  |  | — |  |  | — |  |  | 145,608 |
Dividends on common stock | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (12,352 | ) |  | — |  |  | — |  |  | — |  |  | (12,352 | )
Employee stock options/other | 1,271 |  |  | — |  |  | — |  |  | 1,271 |  |  | 17,458 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 18,729 |
Stock awards | 56 |  |  | 297 |  |  | (4 | ) |  | 56 |  |  | (3,207 | ) |  | — |  |  | — |  |  | 3,226 |  |  | (75 | ) |  | — |
Stock-based compensation | — |  |  | — |  |  | — |  |  | — |  |  | 14,479 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 14,479 |
Tax payments associated with stock-based compensation awards | — |  |  | — |  |  | (147 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (3,345 | ) |  | (3,345 | )
Balance at August 31, 2019 | 120,523 |  |  | (7,860 | ) |  | (24,264 | ) |  | $ | 120,523 |  |  | $ | 782,300 |  |  | $ | 2,042,034 |  |  | $ | (9,565 | ) |  | $ | (85,246 | ) |  | $ | (587,817 | ) |  | $ | 2,262,229 |
Balance at November 30, 2017 | 117,946 |  |  | (8,898 | ) |  | (22,021 | ) |  | $ | 117,946 |  |  | $ | 727,483 |  |  | $ | 1,735,695 |  |  | $ | (16,924 | ) |  | $ | (96,509 | ) |  | $ | (541,380 | ) |  | $ | 1,926,311 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 73,529 |  |  | — |  |  | — |  |  | — |  |  | 73,529 |
Dividends on common stock | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (6,686 | ) |  | — |  |  | — |  |  | — |  |  | (6,686 | )
Employee stock options/other | 1,049 |  |  | — |  |  | — |  |  | 1,049 |  |  | 16,384 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 17,433 |
Stock awards | 54 |  |  | 438 |  |  | 37 |  |  | 54 |  |  | (5,762 | ) |  | — |  |  | — |  |  | 4,749 |  |  | 959 |  |  | — |
Stock-based compensation | — |  |  | — |  |  | — |  |  | — |  |  | 12,149 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 12,149 |
Tax payments associated with stock-based compensation awards | — |  |  | — |  |  | (217 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (6,787 | ) |  | (6,787 | )
Balance at August 31, 2018 | 119,049 |  |  | (8,460 | ) |  | (22,201 | ) |  | $ | 119,049 |  |  | $ | 750,254 |  |  | $ | 1,802,538 |  |  | $ | (16,924 | ) |  | $ | (91,760 | ) |  | $ | (547,208 | ) |  | $ | 2,015,949 |
On February 15, 2019, the management development and compensation committee of our board of directors approved the payout of 297,260 shares of our common stock in connection with the vesting of PSUs that were granted to certain employees on October 8, 2015. The shares paid out under the PSUs reflected our achievement of certain performance measures that were based on average return on invested capital, cumulative earnings per share, and revenue growth relative to a peer group of high-production public homebuilding companies over the three-year period from December 1, 2015 through November 30, 2018. Of the shares of common stock paid out, 147,382 shares or $3.3 million, were purchased by us in the 2019 first quarter to satisfy the recipients’ withholding taxes on the vesting of the PSUs. The shares purchased were not considered repurchases under the authorizations described below. As of August 31, 2019, we were authorized to repurchase 2,193,947 shares of our common stock under a board of directors approved share repurchase program. We did not repurchase any of our common stock under this program in the nine months ended August 31, 2019. Unrelated to the share repurchase program, our board of directors authorized in 2014 the repurchase of not more than 680,000 shares of our outstanding common stock, and also authorized potential future grants of up to 680,000 stock payment awards under the KB Home 2014 Equity Incentive Plan (“2014 Plan”), in each case solely as necessary to settle outstanding stock appreciation rights awards granted under our Non-Employee Directors Compensation Plan. As of August 31, 2019, we have not repurchased any shares and no stock payment awards have been granted under the 2014 Plan pursuant to the board of directors authorization. During the three-month period ended August 31, 2019, our board of directors approved an increase in the quarterly cash dividend on our common stock to $.090 per share from $.025 per share, upon which they declared, and we paid, a quarterly cash dividend at the new higher rate. During the three-month period ended August 31, 2018, our board of directors declared, and we paid, a quarterly cash dividend of $.025 per share of common stock. Quarterly cash dividends declared and paid during the nine-month periods ended August 31, 2019 and 2018 totaled $.140 per share and $.075 per share of common stock, respectively.

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

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration