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Supplemental Guarantor Information (Tables) | 9 Months Ended
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Aug. 31, 2020
Guarantees [Abstract] |
Condensed Consolidated Statements of Operations | Condensed Consolidating Statements of Operations (in thousands)
| Three Months Ended August 31, 2020
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Total revenues | $ | — |  |  | $ | 908,657 |  |  | $ | 90,356 |  |  | $ | — |  |  | $ | 999,013 |
Homebuilding: |  |  |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 908,657 |  |  | $ | 86,491 |  |  | $ | — |  |  | $ | 995,148 |
Construction and land costs | — |  |  | (725,215 | ) |  | (73,280 | ) |  | — |  |  | (798,495 | )
Selling, general and administrative expenses | (22,699 | ) |  | (80,978 | ) |  | (4,033 | ) |  | — |  |  | (107,710 | )
Operating income (loss) | (22,699 | ) |  | 102,464 |  |  | 9,178 |  |  | — |  |  | 88,943 |
Interest income | 784 |  |  | — |  |  | 2 |  |  | — |  |  | 786 |
Interest expense | (29,552 | ) |  | (15 | ) |  | (1,487 | ) |  | 31,054 |  |  | — |
Intercompany interest | 78,222 |  |  | (43,112 | ) |  | (4,056 | ) |  | (31,054 | ) |  | — |
Equity in income of unconsolidated joint ventures | — |  |  | 1,922 |  |  | — |  |  | — |  |  | 1,922 |
Homebuilding pretax income | 26,755 |  |  | 61,259 |  |  | 3,637 |  |  | — |  |  | 91,651 |
Financial services pretax income | — |  |  | — |  |  | 9,664 |  |  | — |  |  | 9,664 |
Total pretax income | 26,755 |  |  | 61,259 |  |  | 13,301 |  |  | — |  |  | 101,315 |
Income tax expense | (6,700 | ) |  | (13,300 | ) |  | (2,900 | ) |  | — |  |  | (22,900 | )
Equity in net income of subsidiaries | 58,360 |  |  | — |  |  | — |  |  | (58,360 | ) |  | — |
Net income | $ | 78,415 |  |  | $ | 47,959 |  |  | $ | 10,401 |  |  | $ | (58,360 | ) |  | $ | 78,415 |
| 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 |
Condensed Consolidated Balance Sheets | Condensed Consolidating Balance Sheets (in thousands)
| August 31, 2020
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Assets |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 649,859 |  |  | $ | 43,395 |  |  | $ | 28,779 |  |  | $ | — |  |  | $ | 722,033 |
Receivables | 39,475 |  |  | 166,454 |  |  | 63,722 |  |  | — |  |  | 269,651 |
Inventories | — |  |  | 3,340,657 |  |  | 330,472 |  |  | — |  |  | 3,671,129 |
Investments in unconsolidated joint ventures | — |  |  | 48,821 |  |  | — |  |  | — |  |  | 48,821 |
Property and equipment, net | 29,066 |  |  | 32,337 |  |  | 3,216 |  |  | — |  |  | 64,619 |
Deferred tax assets, net | 83,027 |  |  | 159,543 |  |  | (1,399 | ) |  | — |  |  | 241,171 |
Other assets | 95,964 |  |  | 22,625 |  |  | 6,653 |  |  | — |  |  | 125,242 |
| 897,391 |  |  | 3,813,832 |  |  | 431,443 |  |  | — |  |  | 5,142,666 |
Financial services | — |  |  | — |  |  | 34,761 |  |  | — |  |  | 34,761 |
Intercompany receivables | 3,486,621 |  |  | — |  |  | 213,647 |  |  | (3,700,268 | ) |  | — |
Investments in subsidiaries | 129,869 |  |  | — |  |  | — |  |  | (129,869 | ) |  | — |
Total assets | $ | 4,513,881 |  |  | $ | 3,813,832 |  |  | $ | 679,851 |  |  | $ | (3,830,137 | ) |  | $ | 5,177,427 |
Liabilities and stockholders’ equity |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 143,912 |  |  | $ | 434,064 |  |  | $ | 284,374 |  |  | $ | — |  |  | $ | 862,350 |
Notes payable | 1,716,974 |  |  | 5,620 |  |  | 25,110 |  |  | — |  |  | 1,747,704 |
| 1,860,886 |  |  | 439,684 |  |  | 309,484 |  |  | — |  |  | 2,610,054 |
Financial services | — |  |  | — |  |  | 2,065 |  |  | — |  |  | 2,065 |
Intercompany payables | 87,687 |  |  | 3,312,907 |  |  | 299,674 |  |  | (3,700,268 | ) |  | — |
Stockholders’ equity | 2,565,308 |  |  | 61,241 |  |  | 68,628 |  |  | (129,869 | ) |  | 2,565,308 |
Total liabilities and stockholders’ equity | $ | 4,513,881 |  |  | $ | 3,813,832 |  |  | $ | 679,851 |  |  | $ | (3,830,137 | ) |  | $ | 5,177,427 |
| November 30, 2019
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Assets |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 357,966 |  |  | $ | 65,434 |  |  | $ | 30,414 |  |  | $ | — |  |  | $ | 453,814 |
Receivables | 1,934 |  |  | 181,047 |  |  | 66,074 |  |  | — |  |  | 249,055 |
Inventories | — |  |  | 3,400,307 |  |  | 304,295 |  |  | — |  |  | 3,704,602 |
Investments in unconsolidated joint ventures | — |  |  | 57,038 |  |  | — |  |  | — |  |  | 57,038 |
Property and equipment, net | 24,250 |  |  | 37,539 |  |  | 3,254 |  |  | — |  |  | 65,043 |
Deferred tax assets, net | 96,301 |  |  | 237,877 |  |  | 30,315 |  |  | — |  |  | 364,493 |
Other assets | 78,686 |  |  | 2,666 |  |  | 1,689 |  |  | — |  |  | 83,041 |
| 559,137 |  |  | 3,981,908 |  |  | 436,041 |  |  | — |  |  | 4,977,086 |
Financial services | — |  |  | — |  |  | 38,396 |  |  | — |  |  | 38,396 |
Intercompany receivables | 3,624,081 |  |  | — |  |  | 186,022 |  |  | (3,810,103 | ) |  | — |
Investments in subsidiaries | 115,753 |  |  | — |  |  | — |  |  | (115,753 | ) |  | — |
Total assets | $ | 4,298,971 |  |  | $ | 3,981,908 |  |  | $ | 660,459 |  |  | $ | (3,925,856 | ) |  | $ | 5,015,482 |
Liabilities and stockholders’ equity |  |  |  |  |  |  |  |  |
Homebuilding: |  |  |  |  |  |  |  |  |
Accounts payable, accrued expenses and other liabilities | $ | 139,137 |  |  | $ | 453,929 |  |  | $ | 288,489 |  |  | $ | — |  |  | $ | 881,555 |
Notes payable | 1,715,748 |  |  | 7,889 |  |  | 25,110 |  |  | — |  |  | 1,748,747 |
| 1,854,885 |  |  | 461,818 |  |  | 313,599 |  |  | — |  |  | 2,630,302 |
Financial services | — |  |  | — |  |  | 2,058 |  |  | — |  |  | 2,058 |
Intercompany payables | 60,964 |  |  | 3,520,090 |  |  | 229,049 |  |  | (3,810,103 | ) |  | — |
Stockholders’ equity | 2,383,122 |  |  | — |  |  | 115,753 |  |  | (115,753 | ) |  | 2,383,122 |
Total liabilities and stockholders’ equity | $ | 4,298,971 |  |  | $ | 3,981,908 |  |  | $ | 660,459 |  |  | $ | (3,925,856 | ) |  | $ | 5,015,482 |
Condensed Consolidated Statements of Cash Flows | Condensed Consolidating Statements of Cash Flows (in thousands)
| Nine Months Ended August 31, 2020
| KB Home Corporate |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total
Net cash provided by operating activities | $ | 62,684 |  |  | $ | 253,483 |  |  | $ | 13,044 |  |  | $ | — |  |  | $ | 329,211 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Contributions to unconsolidated joint ventures | — |  |  | (6,048 | ) |  | — |  |  | — |  |  | (6,048 | )
Return of investments in unconsolidated joint ventures | — |  |  | 8,816 |  |  | — |  |  | — |  |  | 8,816 |
Purchases of property and equipment, net | (5,148 | ) |  | (12,344 | ) |  | (3,662 | ) |  | — |  |  | (21,154 | )
Intercompany | 256,600 |  |  | — |  |  | — |  |  | (256,600 | ) |  | — |
Net cash provided by (used in) investing activities | 251,452 |  |  | (9,576 | ) |  | (3,662 | ) |  | (256,600 | ) |  | (18,386 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Payments on mortgages and land contracts due to land sellers and other loans | — |  |  | (20,314 | ) |  | — |  |  | — |  |  | (20,314 | )
Issuance of common stock under employee stock plans | 8,404 |  |  | — |  |  | — |  |  | — |  |  | 8,404 |
Tax payments associated with stock-based compensation awards | (6,219 | ) |  | — |  |  | — |  |  | — |  |  | (6,219 | )
Payments of cash dividends | (24,428 | ) |  | — |  |  | — |  |  | — |  |  | (24,428 | )
Intercompany | — |  |  | (245,632 | ) |  | (10,968 | ) |  | 256,600 |  |  | — |
Net cash used in financing activities | (22,243 | ) |  | (265,946 | ) |  | (10,968 | ) |  | 256,600 |  |  | (42,557 | )
Net increase (decrease) in cash and cash equivalents | 291,893 |  |  | (22,039 | ) |  | (1,586 | ) |  | — |  |  | 268,268 |
Cash and cash equivalents at beginning of period | 357,966 |  |  | 65,434 |  |  | 31,458 |  |  | — |  |  | 454,858 |
Cash and cash equivalents at end of period | $ | 649,859 |  |  | $ | 43,395 |  |  | $ | 29,872 |  |  | $ | — |  |  | $ | 723,126 |
| 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 |

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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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- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements 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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