Supplemental Guarantor Information (Tables)

9 Months Ended

Aug. 31, 2017

Guarantees [Abstract]

Condensed Consolidated Statements of Operations

	Three Months Ended August 31, 2017
	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Total revenues	$	—		$	1,048,045		$	95,956		$	—		$	1,144,001
Homebuilding:
Revenues	$	—		$	1,048,045		$	92,742		$	—		$	1,140,787
Construction and land costs	—			(871,350		)	(83,651		)	—			(955,001		)
Selling, general and administrative expenses	(23,220		)	(72,686		)	(13,189		)	—			(109,095		)
Operating income (loss)	(23,220		)	104,009			(4,098		)	—			76,691
Interest income	345			2			—			—			347
Interest expense	(41,746		)	(434		)	(1,254		)	43,434			—
Intercompany interest	77,367			(31,059		)	(2,874		)	(43,434		)	—
Equity in loss of unconsolidated joint ventures	—			(814		)	—			—			(814		)
Homebuilding pretax income (loss)	12,746			71,704			(8,226		)	—			76,224
Financial services pretax income	—			—			2,984			—			2,984
Total pretax income (loss)	12,746			71,704			(5,242		)	—			79,208
Income tax benefit (expense)	(3,700		)	(26,200		)	900			—			(29,000		)
Equity in net income of subsidiaries	41,162			—			—			(41,162		)	—
Net income (loss)	$	50,208		$	45,504		$	(4,342	)	$	(41,162	)	$	50,208

	Three Months Ended August 31, 2016
	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Total revenues	$	—		$	801,832		$	111,451		$	—		$	913,283
Homebuilding:
Revenues	$	—		$	801,832		$	108,279		$	—		$	910,111
Construction and land costs	—			(664,224		)	(96,266		)	—			(760,490		)
Selling, general and administrative expenses	(23,436		)	(64,541		)	(10,167		)	—			(98,144		)
Operating income (loss)	(23,436		)	73,067			1,846			—			51,477
Interest income	96			11			2			—			109
Interest expense	(46,485		)	—			—			46,485			—
Intercompany interest	78,834			(27,997		)	(4,352		)	(46,485		)	—
Equity in loss of unconsolidated joint ventures	—			(536		)	—			—			(536		)
Homebuilding pretax income (loss)	9,009			44,545			(2,504		)	—			51,050
Financial services pretax income	—			—			2,413			—			2,413
Total pretax income (loss)	9,009			44,545			(91		)	—			53,463
Income tax expense	(1,600		)	(12,300		)	(200		)	—			(14,100		)
Equity in net income of subsidiaries	31,954			—			—			(31,954		)	—
Net income (loss)	$	39,363		$	32,245		$	(291	)	$	(31,954	)	$	39,363

	Nine Months Ended August 31, 2017
	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Total revenues	$	—		$	2,671,533		$	293,858		$	—		$	2,965,391
Homebuilding:
Revenues	$	—		$	2,671,533		$	285,572		$	—		$	2,957,105
Construction and land costs	—			(2,240,974		)	(258,703		)	—			(2,499,677		)
Selling, general and administrative expenses	(68,809		)	(206,513		)	(30,579		)	—			(305,901		)
Operating income (loss)	(68,809		)	224,046			(3,710		)	—			151,527
Interest income	740			5			2			—			747
Interest expense	(131,788		)	(1,428		)	(3,641		)	130,550			(6,307		)
Intercompany interest	226,470			(87,524		)	(8,396		)	(130,550		)	—
Equity in loss of unconsolidated joint ventures	—			(678		)	(1		)	—			(679		)
Homebuilding pretax income (loss)	26,613			134,421			(15,746		)	—			145,288
Financial services pretax income	—			—			7,361			—			7,361
Total pretax income (loss)	26,613			134,421			(8,385		)	—			152,649
Income tax benefit (expense)	(4,900		)	(52,300		)	800			—			(56,400		)
Equity in net income of subsidiaries	74,536			—			—			(74,536		)	—
Net income (loss)	$	96,249		$	82,121		$	(7,585	)	$	(74,536	)	$	96,249

	Nine Months Ended August 31, 2016
	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Total revenues	$	—		$	2,103,943		$	298,761		$	—		$	2,402,704
Homebuilding:
Revenues	$	—		$	2,103,943		$	290,372		$	—		$	2,394,315
Construction and land costs	—			(1,751,995		)	(266,027		)	—			(2,018,022		)
Selling, general and administrative expenses	(66,752		)	(182,015		)	(31,119		)	—			(279,886		)
Operating income (loss)	(66,752		)	169,933			(6,774		)	—			96,407
Interest income	336			53			6			—			395
Interest expense	(135,192		)	(1,641		)	(2,161		)	133,327			(5,667		)
Intercompany interest	228,596			(82,984		)	(12,285		)	(133,327		)	—
Equity in loss of unconsolidated joint ventures	—			(1,961		)	(3		)	—			(1,964		)
Homebuilding pretax income (loss)	26,988			83,400			(21,217		)	—			89,171
Financial services pretax income	—			—			5,116			—			5,116
Total pretax income (loss)	26,988			83,400			(16,101		)	—			94,287
Income tax benefit (expense)	(3,700		)	(24,600		)	2,100			—			(26,200		)
Equity in net income of subsidiaries	44,799			—			—			(44,799		)	—
Net income (loss)	$	68,087		$	58,800		$	(14,001	)	$	(44,799	)	$	68,087

Condensed Consolidated Balance Sheets

Condensed Consolidating Balance Sheets (in thousands)

	August 31, 2017
	KB Home Corporate		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Total
Assets
Homebuilding:
Cash and cash equivalents	$	400,956	$	82,622	$	10,475	$	—		$	494,053
Receivables	4,939		144,447		79,647		—			229,033
Inventories	—		3,167,657		346,137		—			3,513,794
Investments in unconsolidated joint ventures	—		62,011		2,502		—			64,513
Deferred tax assets, net	271,967		265,640		145,478		—			683,085
Other assets	91,420		8,384		2,590		—			102,394
	769,282		3,730,761		586,829		—			5,086,872
Financial services	—		—		12,687		—			12,687
Intercompany receivables	3,606,529		—		102,335		(3,708,864		)	—
Investments in subsidiaries	108,984		—		—		(108,984		)	—
Total assets	$	4,484,795	$	3,730,761	$	701,851	$	(3,817,848	)	$	5,099,559
Liabilities and stockholders’ equity
Homebuilding:
Accounts payable, accrued expenses and other liabilities	$	169,661	$	365,102	$	219,940	$	—		$	754,703
Notes payable	2,453,127		23,222		26,030		—			2,502,379
	2,622,788		388,324		245,970		—			3,257,082
Financial services	—		—		1,535		—			1,535
Intercompany payables	21,065		3,270,731		417,068		(3,708,864		)	—
Stockholders’ equity	1,840,942		71,706		37,278		(108,984		)	1,840,942
Total liabilities and stockholders’ equity	$	4,484,795	$	3,730,761	$	701,851	$	(3,817,848	)	$	5,099,559

	November 30, 2016
	KB Home Corporate		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Total
Assets
Homebuilding:
Cash and cash equivalents	$	463,100	$	100,439	$	28,547	$	—		$	592,086
Receivables	4,807		135,915		90,943		—			231,665
Inventories	—		3,048,132		355,096		—			3,403,228
Investments in unconsolidated joint ventures	—		61,517		2,499		—			64,016
Deferred tax assets, net	276,737		318,077		144,171		—			738,985
Other assets	79,526		9,177		2,442		—			91,145
	824,170		3,673,257		623,698		—			5,121,125
Financial services	—		—		10,499		—			10,499
Intercompany receivables	3,559,012		—		97,062		(3,656,074		)	—
Investments in subsidiaries	35,965		—		—		(35,965		)	—
Total assets	$	4,419,147	$	3,673,257	$	731,259	$	(3,692,039	)	$	5,131,624
Liabilities and stockholders’ equity
Homebuilding:
Accounts payable, accrued expenses and other liabilities	$	131,530	$	397,605	$	237,192	$	—		$	766,327
Notes payable	2,548,112		66,927		25,110		—			2,640,149
	2,679,642		464,532		262,302		—			3,406,476
Financial services	—		—		2,003		—			2,003
Intercompany payables	16,360		3,208,725		430,989		(3,656,074		)	—
Stockholders’ equity	1,723,145		—		35,965		(35,965		)	1,723,145
Total liabilities and stockholders’ equity	$	4,419,147	$	3,673,257	$	731,259	$	(3,692,039	)	$	5,131,624

Condensed Consolidated Statements of Cash Flows

Condensed Consolidating Statements of Cash Flows (in thousands)

	Nine Months Ended August 31, 2017
	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Net cash provided by (used in) operating activities	$	82,480		$	30,480		$	(9,690	)	$	—		$	103,270
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	—			(9,899		)	(5,255		)	—			(15,154		)
Return of investments in unconsolidated joint ventures	—			3,169			4,990			—			8,159
Purchases of property and equipment, net	(5,875		)	(719		)	(49		)	—			(6,643		)
Intercompany	(43,367		)	—			—			43,367			—
Net cash used in investing activities	(49,242		)	(7,449		)	(314		)	43,367			(13,638		)
Cash flows from financing activities:
Repayment of senior notes	(105,326		)	—			—			—			(105,326		)
Issuance costs for unsecured revolving credit facility	(1,711		)	—			—			—			(1,711		)
Payments on mortgages and land contracts due to land sellers and other loans	—			(92,443		)	—			—			(92,443		)
Issuance of common stock under employee stock plans	20,677			—			—			—			20,677
Payments of cash dividends	(6,479		)	—			—			—			(6,479		)
Stock repurchases	(2,543		)	—			—			—			(2,543		)
Intercompany	—			51,595			(8,228		)	(43,367		)	—
Net cash used in financing activities	(95,382		)	(40,848		)	(8,228		)	(43,367		)	(187,825		)
Net decrease in cash and cash equivalents	(62,144		)	(17,817		)	(18,232		)	—			(98,193		)
Cash and cash equivalents at beginning of period	463,100			100,439			29,461			—			593,000
Cash and cash equivalents at end of period	$	400,956		$	82,622		$	11,229		$	—		$	494,807

	Nine Months Ended August 31, 2016
	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Net cash provided by (used in) operating activities	$	49,705		$	(205,084	)	$	52,767		$	—		$	(102,612	)
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	—			(1,000		)	—			—			(1,000		)
Return of investments in unconsolidated joint ventures	—			3,495			—			—			3,495
Purchases of property and equipment, net	(2,066		)	(452		)	(162		)	—			(2,680		)
Intercompany	(141,886		)	—			—			141,886			—
Net cash provided by (used in) investing activities	(143,952		)	2,043			(162		)	141,886			(185		)
Cash flows from financing activities:
Change in restricted cash	8,742			—			—			—			8,742
Payments on mortgages and land contracts due to land sellers and other loans	—			(41,913		)	—			—			(41,913		)
Issuance of common stock under employee stock plans	7,351			—			—			—			7,351
Payments of cash dividends	(6,471		)	—			—			—			(6,471		)
Stock repurchases	(87,531		)	—			—			—			(87,531		)
Intercompany	—			206,168			(64,282		)	(141,886		)	—
Net cash provided by (used in) financing activities	(77,909		)	164,255			(64,282		)	(141,886		)	(119,822		)
Net decrease in cash and cash equivalents	(172,156		)	(38,786		)	(11,677		)	—			(222,619		)
Cash and cash equivalents at beginning of period	444,850			96,741			18,750			—			560,341
Cash and cash equivalents at end of period	$	272,694		$	57,955		$	7,073		$	—		$	337,722