Financial Services (Tables)

6 Months Ended

May 31, 2013

Segment Reporting Information [Line Items]

Schedule of Financial Services Income (Loss)

Condensed Consolidated Statement of Operations

Six Months Ended May 31, 2013 (in thousands) 

	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments		Total
Revenues	$	—		$	826,912		$	102,713		$	—	$	929,625
Homebuilding:
Revenues	$	—		$	826,912		$	97,692		$	—	$	924,604
Construction and land costs	—			(702,036		)	(84,227		)	—		(786,263		)
Selling, general and administrative expenses	(34,152		)	(79,126		)	(15,918		)	—		(129,196		)
Operating income (loss)	(34,152		)	45,750			(2,453		)	—		9,145
Interest income	429			2			5			—		436
Interest expense	29,607			(56,866		)	(2,488		)	—		(29,747		)
Equity in loss of unconsolidated joint ventures	—			(999		)	(3		)	—		(1,002		)
Homebuilding pretax loss	(4,116		)	(12,113		)	(4,939		)	—		(21,168		)
Financial services pretax income	—			—			4,637			—		4,637
Total pretax loss	(4,116		)	(12,113		)	(302		)	—		(16,531		)
Income tax benefit	300			800			—			—		1,100
Equity in net loss of subsidiaries	(11,615		)	—			—			11,615		—
Net loss	$	(15,431	)	$	(11,313	)	$	(302	)	$	11,615	$	(15,431	)

Revised Condensed Consolidated Statement of Operations

Six Months Ended May 31, 2012 (in thousands)

	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments		Total
Revenues	$	—		$	489,192		$	68,218		$	—	$	557,410
Homebuilding:
Revenues	$	—		$	489,192		$	63,308		$	—	$	552,500
Construction and land costs	—			(435,800		)	(49,073		)	—		(484,873		)
Selling, general and administrative expenses	(28,934		)	(66,468		)	(18,910		)	—		(114,312		)
Operating loss	(28,934		)	(13,076		)	(4,675		)	—		(46,685		)
Interest income	225			4			17			—		246
Interest expense	30,930			(59,194		)	(2,491		)	—		(30,755		)
Equity in loss of unconsolidated joint ventures	—			(313		)	(2		)	—		(315		)
Homebuilding pretax income (loss)	2,221			(72,579		)	(7,151		)	—		(77,509		)
Financial services pretax income	—			—			3,471			—		3,471
Total pretax income (loss)	2,221			(72,579		)	(3,680		)	—		(74,038		)
Income tax benefit (expense)	(100		)	4,100			100			—		4,100
Equity in net loss of subsidiaries	(72,059		)	—			—			72,059		—
Net loss	$	(69,938	)	$	(68,479	)	$	(3,580	)	$	72,059	$	(69,938	)

Condensed Consolidated Statement of Operations

Three Months Ended May 31, 2013 (in thousands):

	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments		Total
Revenues	$	—		$	465,388		$	59,018		$	—	$	524,406
Homebuilding:
Revenues	$	—		$	465,388		$	56,400		$	—	$	521,788
Construction and land costs	—			(394,639		)	(48,359		)	—		(442,998		)
Selling, general and administrative expenses	(19,329		)	(42,462		)	(8,308		)	—		(70,099		)
Operating income (loss)	(19,329		)	28,287			(267		)	—		8,691
Interest income	228			2			2			—		232
Interest expense	16,098			(28,823		)	(1,782		)	—		(14,507		)
Equity in loss of unconsolidated joint ventures	—			(564		)	(3		)	—		(567		)
Homebuilding pretax loss	(3,003		)	(1,098		)	(2,050		)	—		(6,151		)
Financial services pretax income	—			—			1,978			—		1,978
Total pretax loss	(3,003		)	(1,098		)	(72		)	—		(4,173		)
Income tax benefit	1,000			200			—			—		1,200
Equity in net loss of subsidiaries	(970		)	—			—			970		—
Net loss	$	(2,973	)	$	(898	)	$	(72	)	$	970	$	(2,973	)

Revised Condensed Consolidated Statement of Operations

Three Months Ended May 31, 2012 (in thousands):

	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments		Total
Revenues	$	—		$	265,273		$	37,579		$	—	$	302,852
Homebuilding:
Revenues	$	—		$	265,273		$	35,332		$	—	$	300,605
Construction and land costs	—			(224,404		)	(28,637		)	—		(253,041		)
Selling, general and administrative expenses	(14,934		)	(41,384		)	(6,782		)	—		(63,100		)
Operating loss	(14,934		)	(515		)	(87		)	—		(15,536		)
Interest income	100			3			8			—		111
Interest expense	16,810			(29,408		)	(1,871		)	—		(14,469		)
Equity in loss of unconsolidated joint ventures	—			(241		)	(2		)	—		(243		)
Homebuilding pretax income (loss)	1,976			(30,161		)	(1,952		)	—		(30,137		)
Financial services pretax income	—			—			1,501			—		1,501
Total pretax income (loss)	1,976			(30,161		)	(451		)	—		(28,636		)
Income tax benefit (expense)	(200		)	4,600			100			—		4,500
Equity in net loss of subsidiaries	(25,912		)	—			—			25,912		—
Net loss	$	(24,136	)	$	(25,561	)	$	(351	)	$	25,912	$	(24,136	)

Schedule of Financial Services Assets and Liabilities

	May 31, 2013		November 30, 2012
Assets
Cash and cash equivalents	$	2,635	$	923
Receivables	964		1,859
Investments in unconsolidated joint ventures	5,503		1,630
Other assets	18		43
Total assets	$	9,120	$	4,455
Liabilities
Accounts payable and accrued expenses	$	2,077	$	3,188
Total liabilities	$	2,077	$	3,188

Financial services [Member]

Segment Reporting Information [Line Items]

Schedule of Financial Services Income (Loss)

The following tables present financial information relating to our financial services reporting segment (in thousands):

	Six Months Ended May 31,						Three Months Ended May 31,
	2013			2012			2013			2012
Revenues
Insurance commissions	$	2,790		$	2,754		$	1,487		$	1,154
Title services	1,329			878			680			492
Marketing services fees	900			1,275			450			600
Interest income	2			3			1			1
Total	5,021			4,910			2,618			2,247
Expenses
General and administrative	(1,471		)	(1,528		)	(636		)	(693		)
Operating income	3,550			3,382			1,982			1,554
Equity in income (loss) of unconsolidated joint ventures	1,087			89			(4		)	(53		)
Pretax income	$	4,637		$	3,471		$	1,978		$	1,501