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Segment Information
 6 Months Ended
May 31, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
We have identified five operating reporting segments, comprised of four homebuilding reporting segments and one financial services reporting segment. As of May 31, 2025, our homebuilding reporting segments conducted ongoing operations in the following states:
West Coast:California, Idaho and Washington
Southwest:Arizona and Nevada
Central:Colorado and Texas
Southeast:Florida and North Carolina
Our homebuilding reporting segments are engaged in the acquisition and development of land primarily for residential purposes and offer a wide variety of homes that are designed to appeal to first-time, first move-up and active adult homebuyers. Our homebuilding operations generate most of their revenues from the delivery of completed homes to homebuyers. They also earn revenues from the sale of land.
Our financial services reporting segment offers property and casualty insurance and, in certain instances, earthquake, flood and personal property insurance to our homebuyers in the same markets as our homebuilding reporting segments, and provides title services in the majority of our markets located within our Southwest, Central and Southeast homebuilding reporting segments. Our financial services reporting segment earns revenues primarily from insurance commissions and from the provision of title services.
We offer mortgage banking services, including residential consumer mortgage loan (“mortgage loan”) originations, to our homebuyers indirectly through KBHS Home Loans, LLC (“KBHS”), our unconsolidated joint venture with GR Alliance Ventures, LLC (“GR Alliance”), a subsidiary of Guaranteed Rate, Inc. We and GR Alliance each have a 50.0% ownership interest, with GR Alliance providing management oversight of KBHS’ operations.
Our reporting segments follow the same accounting policies used for our consolidated financial statements. The results of each reporting segment are not necessarily indicative of the results that would have occurred had the segment been an independent, stand-alone entity during the periods presented, nor are they indicative of the results to be expected in future periods.
The following tables present financial information relating to our homebuilding reporting segments (in thousands):
 Three Months Ended May 31,Six Months Ended May 31,
 2025202420252024
Revenues:
West Coast$660,193 $698,417 $1,261,842 $1,256,719 
Southwest314,102 318,665 626,981 641,790 
Central282,966 375,790 558,579 696,274 
Southeast267,455 308,640 464,355 568,427 
Total
$1,524,716 $1,701,512 $2,911,757 $3,163,210 
Pretax income (loss):
West Coast$76,754 $87,137 $145,645 $152,877 
Southwest55,302 54,765 114,094 110,476 
Central20,683 46,567 46,176 85,142 
Southeast20,230 38,559 33,304 70,824 
Corporate and other (38,747)(19,172)(73,166)(48,375)
Total $134,222 $207,856 $266,053 $370,944 
 Three Months Ended May 31,Six Months Ended May 31,
 2025202420252024
Inventory impairment and land option contract abandonment charges:
West Coast$1,194 $647 $1,840 $1,945 
Southwest821 116 1,131 116 
Central1,814 256 2,132 256 
Southeast1,729 191 1,910 191 
Total$5,558 $1,210 $7,013 $2,508 
May 31,
2025		November 30,
2024
Assets:
West Coast$3,326,207 $3,178,188 
Southwest1,061,255 915,072 
Central1,031,024 1,001,393 
Southeast1,052,008 972,993 
Corporate and other485,671 801,600 
Total $6,956,165 $6,869,246