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Supplemental Guarantor Information (Tables) | 9 Months Ended
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Aug. 31, 2019
Guarantees [Abstract] |
Condensed Consolidated Statements of Operations | Condensed Consolidating Statements of Operations (in thousands)
| Three Months Ended August 31, 2019
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Total revenues | $ | — |  |  | $ | 1,061,698 |  |  | $ | 99,088 |  |  | $ | — |  |  | $ | 1,160,786 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 1,061,698 |  |  | $ | 95,157 |  |  | $ | — |  |  | $ | 1,156,855 |
Construction and land costs | — |  |  | (859,733 | ) |  | (84,021 | ) |  | — |  |  | (943,754 | )
Selling, general and administrative expenses | (23,619 | ) |  | (95,376 | ) |  | (8,631 | ) |  | — |  |  | (127,626 | )
Operating income (loss) | (23,619 | ) |  | 106,589 |  |  | 2,505 |  |  | — |  |  | 85,475 |
Interest income | 140 |  |  | 20 |  |  | 41 |  |  | — |  |  | 201 |
Interest expense | (34,488 | ) |  | (175 | ) |  | (1,361 | ) |  | 36,024 |  |  | — |
Intercompany interest | 84,880 |  |  | (45,826 | ) |  | (3,030 | ) |  | (36,024 | ) |  | — |
Equity in loss of unconsolidated joint ventures | — |  |  | (384 | ) |  | — |  |  | — |  |  | (384 | )
Homebuilding pretax income (loss) | 26,913 |  |  | 60,224 |  |  | (1,845 | ) |  | — |  |  | 85,292 |
Financial services pretax income | — |  |  | — |  |  | 6,644 |  |  | — |  |  | 6,644 |
Total pretax income | 26,913 |  |  | 60,224 |  |  | 4,799 |  |  | — |  |  | 91,936 |
Income tax expense | (6,900 | ) |  | (14,900 | ) |  | (2,000 | ) |  | — |  |  | (23,800 | )
Equity in net income of subsidiaries | 48,123 |  |  | — |  |  | — |  |  | (48,123 | ) |  | — |
Net income | $ | 68,136 |  |  | $ | 45,324 |  |  | $ | 2,799 |  |  | $ | (48,123 | ) |  | $ | 68,136 |
| Three Months Ended August 31, 2018
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Total revenues | $ | — |  |  | $ | 1,144,253 |  |  | $ | 81,094 |  |  | $ | — |  |  | $ | 1,225,347 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 1,144,253 |  |  | $ | 77,622 |  |  | $ | — |  |  | $ | 1,221,875 |
Construction and land costs | — |  |  | (927,346 | ) |  | (74,163 | ) |  | — |  |  | (1,001,509 | )
Selling, general and administrative expenses | (24,688 | ) |  | (81,540 | ) |  | (8,525 | ) |  | — |  |  | (114,753 | )
Operating income (loss) | (24,688 | ) |  | 135,367 |  |  | (5,066 | ) |  | — |  |  | 105,613 |
Interest income | 380 |  |  | — |  |  | 78 |  |  | — |  |  | 458 |
Interest expense | (33,319 | ) |  | (669 | ) |  | (1,240 | ) |  | 35,228 |  |  | — |
Intercompany interest | 78,519 |  |  | (40,675 | ) |  | (2,616 | ) |  | (35,228 | ) |  | — |
Equity in income of unconsolidated joint ventures | — |  |  | 3,493 |  |  | — |  |  | — |  |  | 3,493 |
Homebuilding pretax income (loss) | 20,892 |  |  | 97,516 |  |  | (8,844 | ) |  | — |  |  | 109,564 |
Financial services pretax income | — |  |  | — |  |  | 5,112 |  |  | — |  |  | 5,112 |
Total pretax income (loss) | 20,892 |  |  | 97,516 |  |  | (3,732 | ) |  | — |  |  | 114,676 |
Income tax expense | (3,500 | ) |  | (22,700 | ) |  | (1,000 | ) |  | — |  |  | (27,200 | )
Equity in net income of subsidiaries | 70,084 |  |  | — |  |  | — |  |  | (70,084 | ) |  | — |
Net income (loss) | $ | 87,476 |  |  | $ | 74,816 |  |  | $ | (4,732 | ) |  | $ | (70,084 | ) |  | $ | 87,476 |
Condensed Consolidated Balance Sheets | Condensed Consolidating Balance Sheets (in thousands)
| August 31, 2019
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Assets |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 67,247 |  |  | $ | 104,043 |  |  | $ | 12,504 |  |  | $ | — |  |  | $ | 183,794 |
Receivables | 2,368 |  |  | 226,063 |  |  | 63,061 |  |  | — |  |  | 291,492 |
Inventories | — |  |  | 3,623,232 |  |  | 295,844 |  |  | — |  |  | 3,919,076 |
Investments in unconsolidated joint ventures | — |  |  | 57,168 |  |  | — |  |  | — |  |  | 57,168 |
Property and equipment, net | 22,732 |  |  | 38,024 |  |  | 3,363 |  |  | — |  |  | 64,119 |
Deferred tax assets, net | 71,939 |  |  | 282,066 |  |  | 48,090 |  |  | — |  |  | 402,095 |
Other assets | 81,192 |  |  | 2,773 |  |  | 1,550 |  |  | — |  |  | 85,515 |
| 245,478 |  |  | 4,333,369 |  |  | 424,412 |  |  | — |  |  | 5,003,259 |
Financial services | — |  |  | — |  |  | 31,911 |  |  | — |  |  | 31,911 |
Intercompany receivables | 3,869,512 |  |  | — |  |  | 183,833 |  |  | (4,053,345 | ) |  | — |
Investments in subsidiaries | 159,161 |  |  | — |  |  | — |  |  | (159,161 | ) |  | — |
Total assets | $ | 4,274,151 |  |  | $ | 4,333,369 |  |  | $ | 640,156 |  |  | $ | (4,212,506 | ) |  | $ | 5,035,170 |
Liabilities and stockholders’ equity |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 135,855 |  |  | $ | 507,361 |  |  | $ | 267,807 |  |  | $ | — |  |  | $ | 911,023 |
Notes payable | 1,818,169 |  |  | 16,856 |  |  | 25,110 |  |  | — |  |  | 1,860,135 |
| 1,954,024 |  |  | 524,217 |  |  | 292,917 |  |  | — |  |  | 2,771,158 |
Financial services | — |  |  | — |  |  | 1,783 |  |  | — |  |  | 1,783 |
Intercompany payables | 57,898 |  |  | 3,748,931 |  |  | 246,516 |  |  | (4,053,345 | ) |  | — |
Stockholders’ equity | 2,262,229 |  |  | 60,221 |  |  | 98,940 |  |  | (159,161 | ) |  | 2,262,229 |
Total liabilities and stockholders’ equity | $ | 4,274,151 |  |  | $ | 4,333,369 |  |  | $ | 640,156 |  |  | $ | (4,212,506 | ) |  | $ | 5,035,170 |
| 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)
| Nine Months Ended August 31, 2019
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net cash provided by (used in) operating activities | $ | 92,935 |  |  | $ | (335,428 | ) |  | $ | 90,349 |  |  | $ | — |  |  | $ | (152,144 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Contributions to unconsolidated joint ventures | — |  |  | (7,656 | ) |  | — |  |  | — |  |  | (7,656 | )
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 | (4,728 | ) |  | (18,252 | ) |  | (9,231 | ) |  | — |  |  | (32,211 | )
Intercompany | (274,010 | ) |  | — |  |  | — |  |  | 274,010 |  |  | — |
Net cash used in investing activities | (278,738 | ) |  | (15,103 | ) |  | (9,231 | ) |  | 274,010 |  |  | (29,062 | )
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 | 460,000 |  |  | — |  |  | — |  |  | — |  |  | 460,000 |
Repayments under revolving credit facility | (410,000 | ) |  | — |  |  | — |  |  | — |  |  | (410,000 | )
Payments on mortgages and land contracts due to land sellers and other loans | — |  |  | (32,149 | ) |  | — |  |  | — |  |  | (32,149 | )
Issuance of common stock under employee stock plans | 18,729 |  |  | — |  |  | — |  |  | — |  |  | 18,729 |
Tax payments associated with stock-based compensation awards | (3,345 | ) |  | — |  |  | — |  |  | — |  |  | (3,345 | )
Payments of cash dividends | (12,352 | ) |  | — |  |  | — |  |  | — |  |  | (12,352 | )
Intercompany | — |  |  | 372,454 |  |  | (98,444 | ) |  | (274,010 | ) |  | — |
Net cash provided by (used in) financing activities | (176,927 | ) |  | 340,305 |  |  | (98,444 | ) |  | (274,010 | ) |  | (209,076 | )
Net decrease in cash and cash equivalents | (362,730 | ) |  | (10,226 | ) |  | (17,326 | ) |  | — |  |  | (390,282 | )
Cash and cash equivalents at beginning of period | 429,977 |  |  | 114,269 |  |  | 30,873 |  |  | — |  |  | 575,119 |
Cash and cash equivalents at end of period | $ | 67,247 |  |  | $ | 104,043 |  |  | $ | 13,547 |  |  | $ | — |  |  | $ | 184,837 |
| Nine Months Ended August 31, 2018
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net cash provided by (used in) operating activities | $ | 50,507 |  |  | $ | (78,593 | ) |  | $ | (21,422 | ) |  | $ | — |  |  | $ | (49,508 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Contributions to unconsolidated joint ventures | — |  |  | (15,640 | ) |  | — |  |  | — |  |  | (15,640 | )
Return of investments in unconsolidated joint ventures | — |  |  | 9,934 |  |  | — |  |  | — |  |  | 9,934 |
Purchases of property and equipment, net | (3,508 | ) |  | (520 | ) |  | (109 | ) |  | — |  |  | (4,137 | )
Intercompany | (80,955 | ) |  | — |  |  | — |  |  | 80,955 |  |  | — |
Net cash used in investing activities | (84,463 | ) |  | (6,226 | ) |  | (109 | ) |  | 80,955 |  |  | (9,843 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Repayment of senior notes | (300,000 | ) |  | — |  |  | — |  |  | — |  |  | (300,000 | )
Borrowings under revolving credit facility | 70,000 |  |  | — |  |  | — |  |  | — |  |  | 70,000 |
Repayments under revolving credit facility | (70,000 | ) |  | — |  |  | — |  |  | — |  |  | (70,000 | )
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 | 17,433 |  |  | — |  |  | — |  |  | — |  |  | 17,433 |
Tax payments associated with stock-based compensation awards | (6,787 | ) |  | — |  |  | — |  |  | — |  |  | (6,787 | )
Payments of cash dividends | (6,686 | ) |  | — |  |  | — |  |  | — |  |  | (6,686 | )
Intercompany | — |  |  | 83,560 |  |  | (2,605 | ) |  | (80,955 | ) |  | — |
Net cash provided by (used in) financing activities | (296,040 | ) |  | 73,986 |  |  | (3,525 | ) |  | (80,955 | ) |  | (306,534 | )
Net decrease in cash and cash equivalents | (329,996 | ) |  | (10,833 | ) |  | (25,056 | ) |  | — |  |  | (365,885 | )
Cash and cash equivalents at beginning of period | 575,193 |  |  | 104,120 |  |  | 41,548 |  |  | — |  |  | 720,861 |
Cash and cash equivalents at end of period | $ | 245,197 |  |  | $ | 93,287 |  |  | $ | 16,492 |  |  | $ | — |  |  | $ | 354,976 |

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- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
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