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Supplemental Guarantor Information (Tables)
 3 Months Ended
Feb. 28, 2013
Guarantees [Abstract]  
Condensed Consolidated Statements of Operations
Condensed Consolidated Statements of Operations
Three Months Ended February 28, 2013 (in thousands) 
 
KB Home
Corporate
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Total
Revenues
$
—

 
$
273,432

 
$
131,787

 
$
—

 
$
405,219

Homebuilding:
 
 
 
 
 
 
 
 
 
Revenues
$
—

 
$
273,432

 
$
129,384

 
$
—

 
$
402,816

Construction and land costs
—

 
(231,720
)
 
(111,545
)
 
—

 
(343,265
)
Selling, general and administrative expenses
(14,823
)
 
(26,894
)
 
(17,380
)
 
—

 
(59,097
)
Operating income (loss)
(14,823
)
 
14,818

 
459

 
—

 
454

Interest income
201

 
—

 
3

 
—

 
204

Interest expense
13,509

 
(19,302
)
 
(9,447
)
 
—

 
(15,240
)
Equity in income (loss) of unconsolidated joint ventures
—

 
(558
)
 
123

 
—

 
(435
)
Homebuilding pretax loss
(1,113
)
 
(5,042
)
 
(8,862
)
 
—

 
(15,017
)
Financial services pretax income
—

 
—

 
2,659

 
—

 
2,659

Total pretax loss
(1,113
)
 
(5,042
)
 
(6,203
)
 
—

 
(12,358
)
Income tax expense
—

 
—

 
(100
)
 
—

 
(100
)
Equity in net loss of subsidiaries
(11,345
)
 
—

 
—

 
11,345

 
—

Net loss
$
(12,458
)
 
$
(5,042
)
 
$
(6,303
)
 
$
11,345

 
$
(12,458
)

Three Months Ended February 29, 2012 (in thousands)
 
KB Home
Corporate
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Total
Revenues
$
—

 
$
146,489

 
$
108,069

 
$
—

 
$
254,558

Homebuilding:
 
 
 
 
 
 
 
 
 
Revenues
$
—

 
$
146,489

 
$
105,406

 
$
—

 
$
251,895

Construction and land costs
—

 
(137,099
)
 
(94,733
)
 
—

 
(231,832
)
Selling, general and administrative expenses
(14,000
)
 
(19,055
)
 
(18,157
)
 
—

 
(51,212
)
Operating loss
(14,000
)
 
(9,665
)
 
(7,484
)
 
—

 
(31,149
)
Interest income
125

 
1

 
9

 
—

 
135

Interest expense
14,120

 
(23,882
)
 
(6,524
)
 
—

 
(16,286
)
Equity in loss of unconsolidated joint ventures
—

 
(51
)
 
(21
)
 
—

 
(72
)
Homebuilding pretax income (loss)
245

 
(33,597
)
 
(14,020
)
 
—

 
(47,372
)
Financial services pretax income
—

 
—

 
1,970

 
—

 
1,970

Total pretax income (loss)
245

 
(33,597
)
 
(12,050
)
 
—

 
(45,402
)
Income tax expense
—

 
(300
)
 
(100
)
 
—

 
(400
)
Equity in net loss of subsidiaries
(46,047
)
 
—

 
—

 
46,047

 
—

Net loss
$
(45,802
)
 
$
(33,897
)
 
$
(12,150
)
 
$
46,047

 
$
(45,802
)
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets
February 28, 2013 (in thousands)
 
KB Home
Corporate
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Total
Assets
 
 
 
 
 
 
 
 
 
Homebuilding:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
554,547

 
$
28,625

 
$
40,872

 
$
—

 
$
624,044

Restricted cash
44,619

 
—

 
—

 
—

 
44,619

Receivables
91

 
50,839

 
14,700

 
—

 
65,630

Inventories
—

 
1,132,565

 
805,209

 
—

 
1,937,774

Investments in unconsolidated joint ventures
—

 
109,102

 
14,108

 
—

 
123,210

Other assets
93,196

 
7,075

 
2,307

 
—

 
102,578

 
692,453

 
1,328,206

 
877,196

 
—

 
2,897,855

Financial services
—

 
—

 
2,782

 
—

 
2,782

Investments in subsidiaries
(2,947
)
 
—

 
—

 
2,947

 
—

Total assets
$
689,506

 
$
1,328,206

 
$
879,978

 
$
2,947

 
$
2,900,637

Liabilities and stockholders’ equity
 
 
 
 
 
 
 
 
 
Homebuilding:
 
 
 
 
 
 
 
 
 
Accounts payable, accrued expenses and other liabilities
$
142,672

 
$
139,150

 
$
179,633

 
$
—

 
$
461,455

Mortgages and notes payable
1,875,735

 
63,918

 
24,100

 
—

 
1,963,753

 
2,018,407

 
203,068

 
203,733

 
—

 
2,425,208

Financial services
—

 
—

 
2,294

 
—

 
2,294

Intercompany
(1,802,036
)
 
1,130,180

 
671,856

 
—

 
—

Stockholders’ equity
473,135

 
(5,042
)
 
2,095

 
2,947

 
473,135

Total liabilities and stockholders’ equity
$
689,506

 
$
1,328,206

 
$
879,978

 
$
2,947

 
$
2,900,637


November 30, 2012 (in thousands)
 
KB Home
Corporate
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Total
Assets
 
 
 
 
 
 
 
 
 
Homebuilding:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
457,007

 
$
22,642

 
$
45,116

 
$
—

 
$
524,765

Restricted cash
42,362

 
—

 
—

 
—

 
42,362

Receivables
121

 
49,518

 
15,182

 
—

 
64,821

Inventories
—

 
1,075,011

 
631,560

 
—

 
1,706,571

Investments in unconsolidated joint ventures
—

 
109,346

 
14,328

 
—

 
123,674

Other assets
85,901

 
7,491

 
1,658

 
—

 
95,050

 
585,391

 
1,264,008

 
707,844

 
—

 
2,557,243

Financial services
—

 
—

 
4,455

 
—

 
4,455

Investments in subsidiaries
11,411

 
—

 
—

 
(11,411
)
 
—

Total assets
$
596,802

 
$
1,264,008

 
$
712,299

 
$
(11,411
)
 
$
2,561,698

Liabilities and stockholders’ equity
 
 
 
 
 
 
 
 
 
Homebuilding:
 
 
 
 
 
 
 
 
 
Accounts payable, accrued expenses and other liabilities
$
134,314

 
$
147,563

 
$
177,012

 
$
—

 
$
458,889

Mortgages and notes payable
1,645,394

 
69,596

 
7,825

 
—

 
1,722,815

 
1,779,708

 
217,159

 
184,837

 
—

 
2,181,704

Financial services
—

 
—

 
3,188

 
—

 
3,188

Intercompany
(1,559,712
)
 
1,046,849

 
512,863

 
—

 
—

Stockholders’ equity
376,806

 
—

 
11,411

 
(11,411
)
 
376,806

Total liabilities and stockholders’ equity
$
596,802

 
$
1,264,008

 
$
712,299

 
$
(11,411
)
 
$
2,561,698
Condensed Consolidated Statements of Cash Flows
Condensed Consolidated Statements of Cash Flows
Three Months Ended February 28, 2013 (in thousands)
 
KB Home
Corporate
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Total
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
Net loss
$
(12,458
)
 
$
(5,042
)
 
$
(6,303
)
 
$
11,345

 
$
(12,458
)
Adjustments to reconcile net loss to net cash used in operating activities:
 
 
 
 
 
 
 
 
 
Equity in (income) loss of unconsolidated joint ventures
—

 
558

 
(1,214
)
 
—

 
(656
)
Changes in assets and liabilities:
 
 
 
 
 
 
 
 
 
Receivables
30

 
(1,321
)
 
1,617

 
—

 
326

Inventories
—

 
(57,554
)
 
(141,207
)
 
—

 
(198,761
)
Accounts payable, accrued expenses and other liabilities
8,010

 
(8,413
)
 
(2,010
)
 
—

 
(2,413
)
Other, net
1,281

 
540

 
1,109

 
—

 
2,930

Net cash used in operating activities
(3,137
)
 
(71,232
)
 
(148,008
)
 
11,345

 
(211,032
)
 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Return of investments in (contributions to) unconsolidated joint ventures
—

 
(314
)
 
10

 
—

 
(304
)
Purchases of property and equipment, net
(96
)
 
(129
)
 
(205
)
 
—

 
(430
)
Net cash used in investing activities
(96
)
 
(443
)
 
(195
)
 
—

 
(734
)
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Change in restricted cash
(2,257
)
 
—

 
—

 
—

 
(2,257
)
Proceeds from issuance of debt
230,000

 
—

 
—

 
—

 
230,000

Payment of debt issuance costs
(6,878
)
 
—

 
—

 
—

 
(6,878
)
Payments on mortgages and land contracts due to land sellers and other loans
—

 
(5,678
)
 
(11,325
)
 
—

 
(17,003
)
Proceeds from issuance of common stock, net
109,811

 
—

 
—

 
—

 
109,811

Issuance of common stock under employee stock plans
52

 
—

 
—

 
—

 
52

Payments of cash dividends
(2,089
)
 
—

 
—

 
—

 
(2,089
)
Intercompany
(227,866
)
 
83,336

 
155,875

 
(11,345
)
 
—

Net cash provided by financing activities
100,773

 
77,658

 
144,550

 
(11,345
)
 
311,636

Net increase (decrease) in cash and cash equivalents
97,540

 
5,983

 
(3,653
)
 
—

 
99,870

Cash and cash equivalents at beginning of period
457,007

 
22,642

 
46,039

 
—

 
525,688

Cash and cash equivalents at end of period
$
554,547

 
$
28,625

 
$
42,386

 
$
—

 
$
625,558

Three Months Ended February 29, 2012 (in thousands) 
 
KB Home
Corporate
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Total
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
Net loss
$
(45,802
)
 
$
(33,897
)
 
$
(12,150
)
 
$
46,047

 
$
(45,802
)
Adjustments to reconcile net loss to net cash used in operating activities:
 
 
 
 
 
 
 
 
 
Equity in (income) loss of unconsolidated joint ventures
—

 
51

 
(121
)
 
—

 
(70
)
Inventory impairments
—

 
6,572

 
—

 
—

 
6,572

Changes in assets and liabilities:
 
 
 
 
 
 
 
 
 
Receivables
(19
)
 
(2,119
)
 
20,431

 
—

 
18,293

Inventories
—

 
(12,997
)
 
(12,859
)
 
—

 
(25,856
)
Accounts payable, accrued expenses and other liabilities
(9,889
)
 
(31,936
)
 
(18,796
)
 
—

 
(60,621
)
Other, net
(5,390
)
 
189

 
3,101

 
—

 
(2,100
)
Net cash used in operating activities
(61,100
)
 
(74,137
)
 
(20,394
)
 
46,047

 
(109,584
)
 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Return of investments in (contributions to) unconsolidated joint ventures
—

 
6,549

 
(2
)
 
—

 
6,547

Purchases of property and equipment, net
(21
)
 
(149
)
 
(259
)
 
—

 
(429
)
Net cash provided by (used in) investing activities
(21
)
 
6,400

 
(261
)
 
—

 
6,118

 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Change in restricted cash
591

 
—

 
—

 
—

 
591

Proceeds from issuance of debt
344,831

 
—

 
—

 
—

 
344,831

Payment of debt issuance costs
(5,816
)
 
—

 
—

 
—

 
(5,816
)
Repayment of senior notes
(340,481
)
 
—

 
—

 
—

 
(340,481
)
Payments on mortgages and land contracts due to land sellers and other loans
—

 
(1,644
)
 
(71
)
 
—

 
(1,715
)
Issuance of common stock under employee stock plans
175

 
—

 
—

 
—

 
175

Payments of cash dividends
(4,818
)
 
—

 
—

 
—

 
(4,818
)
Intercompany
(14,899
)
 
60,890

 
56

 
(46,047
)
 
—

Net cash provided by (used in) financing activities
(20,417
)
 
59,246

 
(15
)
 
(46,047
)
 
(7,233
)
Net decrease in cash and cash equivalents
(81,538
)
 
(8,491
)
 
(20,670
)
 
—

 
(110,699
)
Cash and cash equivalents at beginning of period
340,957

 
32,876

 
44,241

 
—

 
418,074

Cash and cash equivalents at end of period
$
259,419

 
$
24,385

 
$
23,571

 
$
—

 
$
307,375