Supplemental Guarantor Information (Tables)

6 Months Ended

May 31, 2018

Guarantees [Abstract]

Condensed Consolidated Statements of Operations

	Three Months Ended May 31, 2018
	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Total revenues	$	—		$	995,927		$	105,496		$	—		$	1,101,423
Homebuilding:
Revenues	$	—		$	995,927		$	102,746		$	—		$	1,098,673
Construction and land costs	—			(821,077		)	(90,167		)	—			(911,244		)
Selling, general and administrative expenses	(26,815		)	(76,986		)	(9,430		)	—			(113,231		)
Operating income (loss)	(26,815		)	97,864			3,149			—			74,198
Interest income	1,181			4			93			—			1,278
Interest expense	(37,942		)	(634		)	(1,348		)	39,924			—
Intercompany interest	75,277			(32,816		)	(2,537		)	(39,924		)	—
Equity in loss of unconsolidated joint ventures	—			(321		)	(1		)	—			(322		)
Homebuilding pretax income (loss)	11,701			64,097			(644		)	—			75,154
Financial services pretax income	—			—			3,154			—			3,154
Total pretax income	11,701			64,097			2,510			—			78,308
Income tax expense	(2,400		)	(17,700		)	(900		)	—			(21,000		)
Equity in net income of subsidiaries	48,007			—			—			(48,007		)	—
Net income	$	57,308		$	46,397		$	1,610		$	(48,007	)	$	57,308

	Three Months Ended May 31, 2017
	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Total revenues	$	—		$	893,561		$	109,233		$	—		$	1,002,794
Homebuilding:
Revenues	$	—		$	893,561		$	106,511		$	—		$	1,000,072
Construction and land costs	—			(751,172		)	(95,424		)	—			(846,596		)
Selling, general and administrative expenses	(23,322		)	(70,929		)	(9,666		)	—			(103,917		)
Operating income (loss)	(23,322		)	71,460			1,421			—			49,559
Interest income	198			2			2			—			202
Interest expense	(41,693		)	(426		)	(1,225		)	43,344			—
Intercompany interest	75,610			(29,862		)	(2,404		)	(43,344		)	—
Equity in loss of unconsolidated joint ventures	—			(595		)	(1		)	—			(596		)
Homebuilding pretax income (loss)	10,793			40,579			(2,207		)	—			49,165
Financial services pretax income	—			—			2,817			—			2,817
Total pretax income	10,793			40,579			610			—			51,982
Income tax expense	(2,500		)	(17,300		)	(400		)	—			(20,200		)
Equity in net income of subsidiaries	23,489			—			—			(23,489		)	—
Net income	$	31,782		$	23,279		$	210		$	(23,489	)	$	31,782

	Six Months Ended May 31, 2018
	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Total revenues	$	—		$	1,771,622		$	201,424		$	—		$	1,973,046
Homebuilding:
Revenues	$	—		$	1,771,622		$	196,256		$	—		$	1,967,878
Construction and land costs	—			(1,469,196		)	(171,526		)	—			(1,640,722		)
Selling, general and administrative expenses	(48,981		)	(142,827		)	(17,147		)	—			(208,955		)
Operating income (loss)	(48,981		)	159,599			7,583			—			118,201
Interest income	2,179			9			93			—			2,281
Interest expense	(75,914		)	(1,323		)	(2,631		)	79,868			—
Intercompany interest	148,123			(63,315		)	(4,940		)	(79,868		)	—
Equity in loss of unconsolidated joint ventures	—			(1,166		)	(1		)	—			(1,167		)
Homebuilding pretax income	25,407			93,804			104			—			119,315
Financial services pretax income	—			—			5,038			—			5,038
Total pretax income	25,407			93,804			5,142			—			124,353
Income tax expense	(47,100		)	(65,800		)	(25,400		)	—			(138,300		)
Equity in net income of subsidiaries	7,746			—			—			(7,746		)	—
Net income (loss)	$	(13,947	)	$	28,004		$	(20,258	)	$	(7,746	)	$	(13,947	)

	Six Months Ended May 31, 2017
	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Total revenues	$	—		$	1,623,488		$	197,902		$	—		$	1,821,390
Homebuilding:
Revenues	$	—		$	1,623,488		$	192,830		$	—		$	1,816,318
Construction and land costs	—			(1,369,624		)	(175,052		)	—			(1,544,676		)
Selling, general and administrative expenses	(45,589		)	(133,827		)	(17,390		)	—			(196,806		)
Operating income (loss)	(45,589		)	120,037			388			—			74,836
Interest income	395			3			2			—			400
Interest expense	(90,042		)	(994		)	(2,387		)	87,116			(6,307		)
Intercompany interest	149,103			(56,465		)	(5,522		)	(87,116		)	—
Equity in income (loss) of unconsolidated joint ventures	—			136			(1		)	—			135
Homebuilding pretax income (loss)	13,867			62,717			(7,520		)	—			69,064
Financial services pretax income	—			—			4,377			—			4,377
Total pretax income (loss)	13,867			62,717			(3,143		)	—			73,441
Income tax expense	(1,200		)	(26,100		)	(100		)	—			(27,400		)
Equity in net income of subsidiaries	33,374			—			—			(33,374		)	—
Net income (loss)	$	46,041		$	36,617		$	(3,243	)	$	(33,374	)	$	46,041

Condensed Consolidated Balance Sheets

Condensed Consolidating Balance Sheets (in thousands)

	May 31, 2018
	KB Home Corporate		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Total
Assets
Homebuilding:
Cash and cash equivalents	$	542,126	$	93,948	$	33,724	$	—		$	669,798
Receivables	7,486		189,853		78,281		—			275,620
Inventories	—		3,122,164		341,838		—			3,464,002
Investments in unconsolidated joint ventures	—		66,512		2,503		—			69,015
Deferred tax assets, net	204,006		178,134		113,829		—			495,969
Other assets	97,866		10,331		2,827		—			111,024
	851,484		3,660,942		573,002		—			5,085,428
Financial services	—		—		9,308		—			9,308
Intercompany receivables	3,470,462		—		126,744		(3,597,206		)	—
Investments in subsidiaries	55,834		—		—		(55,834		)	—
Total assets	$	4,377,780	$	3,660,942	$	709,054	$	(3,653,040	)	$	5,094,736
Liabilities and stockholders’ equity
Homebuilding:
Accounts payable, accrued expenses and other liabilities	$	135,927	$	441,864	$	247,230	$	—		$	825,021
Notes payable	2,292,332		36,406		25,110		—			2,353,848
	2,428,259		478,270		272,340		—			3,178,869
Financial services	—		—		1,224		—			1,224
Intercompany payables	34,878		3,182,672		379,656		(3,597,206		)	—
Stockholders’ equity	1,914,643		—		55,834		(55,834		)	1,914,643
Total liabilities and stockholders’ equity	$	4,377,780	$	3,660,942	$	709,054	$	(3,653,040	)	$	5,094,736

	November 30, 2017
	KB Home Corporate		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Total
Assets
Homebuilding:
Cash and cash equivalents	$	575,193	$	102,661	$	42,776	$	—		$	720,630
Receivables	24,815		144,076		75,322		—			244,213
Inventories	—		2,929,466		333,920		—			3,263,386
Investments in unconsolidated joint ventures	—		62,290		2,504		—			64,794
Deferred tax assets, net	250,747		243,523		139,367		—			633,637
Other assets	91,592		8,424		2,482		—			102,498
	942,347		3,490,440		596,371		—			5,029,158
Financial services	—		—		12,357		—			12,357
Intercompany receivables	3,414,237		—		107,992		(3,522,229		)	—
Investments in subsidiaries	49,776		—		—		(49,776		)	—
Total assets	$	4,406,360	$	3,490,440	$	716,720	$	(3,572,005	)	$	5,041,515
Liabilities and stockholders’ equity
Homebuilding:
Accounts payable, accrued expenses and other liabilities	$	163,984	$	371,909	$	253,500	$	—		$	789,393
Notes payable	2,289,532		9,283		26,030		—			2,324,845
	2,453,516		381,192		279,530		—			3,114,238
Financial services	—		—		966		—			966
Intercompany payables	26,533		3,109,248		386,448		(3,522,229		)	—
Stockholders’ equity	1,926,311		—		49,776		(49,776		)	1,926,311
Total liabilities and stockholders’ equity	$	4,406,360	$	3,490,440	$	716,720	$	(3,572,005	)	$	5,041,515

Condensed Consolidated Statements of Cash Flows

Condensed Consolidating Statements of Cash Flows (in thousands)

	Six Months Ended May 31, 2018
	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Net cash provided by (used in) operating activities	$	18,931		$	(33,782	)	$	(4,518	)	$	—		$	(19,369	)
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	—			(11,600		)	—			—			(11,600		)
Return of investments in unconsolidated joint ventures	—			1,099			—			—			1,099
Purchases of property and equipment, net	(3,102		)	(277		)	(48		)	—			(3,427		)
Intercompany	(42,380		)	—			—			42,380			—
Net cash used in investing activities	(45,482		)	(10,778		)	(48		)	42,380			(13,928		)
Cash flows from financing activities:
Payments on mortgages and land contracts due to land sellers and other loans	—			(9,574		)	(920		)	—			(10,494		)
Issuance of common stock under employee stock plans	4,771			—			—			—			4,771
Payments of cash dividends	(4,500		)	—			—			—			(4,500		)
Stock repurchases	(6,787		)	—			—			—			(6,787		)
Intercompany	—			45,421			(3,041		)	(42,380		)	—
Net cash provided by (used in) financing activities	(6,516		)	35,847			(3,961		)	(42,380		)	(17,010		)
Net decrease in cash and cash equivalents	(33,067		)	(8,713		)	(8,527		)	—			(50,307		)
Cash and cash equivalents at beginning of period	575,193			102,661			43,007			—			720,861
Cash and cash equivalents at end of period	$	542,126		$	93,948		$	34,480		$	—		$	670,554

	Six Months Ended May 31, 2017
	KB Home Corporate			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Net cash provided by (used in) operating activities	$	24,724		$	(83,371	)	$	(5,933	)	$	—		$	(64,580	)
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	—			(5,852		)	(5,253		)	—			(11,105		)
Return of investments in unconsolidated joint ventures	—			1,969			4,989			—			6,958
Purchases of property and equipment, net	(3,724		)	(344		)	(32		)	—			(4,100		)
Intercompany	(77,681		)	—			—			77,681			—
Net cash used in investing activities	(81,405		)	(4,227		)	(296		)	77,681			(8,247		)
Cash flows from financing activities:
Repayment of senior notes	(105,326		)	—			—			—			(105,326		)
Payments on mortgages and land contracts due to land sellers and other loans	—			(61,640		)	—			—			(61,640		)
Issuance of common stock under employee stock plans	3,049			—			—			—			3,049
Payments of cash dividends	(4,341		)	—			—			—			(4,341		)
Stock repurchases	(2,543		)	—			—			—			(2,543		)
Intercompany	—			91,185			(13,504		)	(77,681		)	—
Net cash provided by (used in) financing activities	(109,161		)	29,545			(13,504		)	(77,681		)	(170,801		)
Net decrease in cash and cash equivalents	(165,842		)	(58,053		)	(19,733		)	—			(243,628		)
Cash and cash equivalents at beginning of period	463,100			100,439			29,461			—			593,000
Cash and cash equivalents at end of period	$	297,258		$	42,386		$	9,728		$	—		$	349,372