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Supplemental Guarantor Information (Tables)
 9 Months Ended
Aug. 31, 2020
Guarantees [Abstract]  
Condensed Consolidated Statements of Operations
Condensed Consolidating Statements of Operations (in thousands)
 
Three Months Ended August 31, 2020
 
KB Home
Corporate
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Total
Total revenues
$
—

 
$
908,657

 
$
90,356

 
$
—

 
$
999,013

Homebuilding:
 
 
 
 
 
 
 
 
 
Revenues
$
—

 
$
908,657

 
$
86,491

 
$
—

 
$
995,148

Construction and land costs
—

 
(725,215
)
 
(73,280
)
 
—

 
(798,495
)
Selling, general and administrative expenses
(22,699
)
 
(80,978
)
 
(4,033
)
 
—

 
(107,710
)
Operating income (loss)
(22,699
)
 
102,464

 
9,178

 
—

 
88,943

Interest income
784

 
—

 
2

 
—

 
786

Interest expense
(29,552
)
 
(15
)
 
(1,487
)
 
31,054

 
—

Intercompany interest
78,222

 
(43,112
)
 
(4,056
)
 
(31,054
)
 
—

Equity in income of unconsolidated joint ventures
—

 
1,922

 
—

 
—

 
1,922

Homebuilding pretax income
26,755

 
61,259

 
3,637

 
—

 
91,651

Financial services pretax income
—

 
—

 
9,664

 
—

 
9,664

Total pretax income
26,755

 
61,259

 
13,301

 
—

 
101,315

Income tax expense
(6,700
)
 
(13,300
)
 
(2,900
)
 
—

 
(22,900
)
Equity in net income of subsidiaries
58,360

 
—

 
—

 
(58,360
)
 
—

Net income
$
78,415

 
$
47,959

 
$
10,401

 
$
(58,360
)
 
$
78,415

 
 
 
 
 
 
 
 
 
 

 
Three Months Ended August 31, 2019
 
KB Home
Corporate
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Total
Total revenues
$
—

 
$
1,061,698

 
$
99,088

 
$
—

 
$
1,160,786

Homebuilding:
 
 
 
 
 
 
 
 
 
Revenues
$
—

 
$
1,061,698

 
$
95,157

 
$
—

 
$
1,156,855

Construction and land costs
—

 
(859,733
)
 
(84,021
)
 
—

 
(943,754
)
Selling, general and administrative expenses
(23,619
)
 
(95,376
)
 
(8,631
)
 
—

 
(127,626
)
Operating income (loss)
(23,619
)
 
106,589

 
2,505

 
—

 
85,475

Interest income
140

 
20

 
41

 
—

 
201

Interest expense
(34,488
)
 
(175
)
 
(1,361
)
 
36,024

 
—

Intercompany interest
84,880

 
(45,826
)
 
(3,030
)
 
(36,024
)
 
—

Equity in loss of unconsolidated joint ventures
—

 
(384
)
 
—

 
—

 
(384
)
Homebuilding pretax income (loss)
26,913

 
60,224

 
(1,845
)
 
—

 
85,292

Financial services pretax income
—

 
—

 
6,644

 
—

 
6,644

Total pretax income
26,913

 
60,224

 
4,799

 
—

 
91,936

Income tax expense
(6,900
)
 
(14,900
)
 
(2,000
)
 
—

 
(23,800
)
Equity in net income of subsidiaries
48,123

 
—

 
—

 
(48,123
)
 
—

Net income
$
68,136

 
$
45,324

 
$
2,799

 
$
(48,123
)
 
$
68,136

 
 
 
 
 
 
 
 
 
 
Condensed Consolidated Balance Sheets
Condensed Consolidating Balance Sheets (in thousands)
 
August 31, 2020
 
KB Home
Corporate
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Total
Assets
 
 
 
 
 
 
 
 
 
Homebuilding:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
649,859

 
$
43,395

 
$
28,779

 
$
—

 
$
722,033

Receivables
39,475

 
166,454

 
63,722

 
—

 
269,651

Inventories
—

 
3,340,657

 
330,472

 
—

 
3,671,129

Investments in unconsolidated joint ventures
—

 
48,821

 
—

 
—

 
48,821

Property and equipment, net
29,066

 
32,337

 
3,216

 
—

 
64,619

Deferred tax assets, net
83,027

 
159,543

 
(1,399
)
 
—

 
241,171

Other assets
95,964

 
22,625

 
6,653

 
—

 
125,242

 
897,391

 
3,813,832

 
431,443

 
—

 
5,142,666

Financial services
—

 
—

 
34,761

 
—

 
34,761

Intercompany receivables
3,486,621

 
—

 
213,647

 
(3,700,268
)
 
—

Investments in subsidiaries
129,869

 
—

 
—

 
(129,869
)
 
—

Total assets
$
4,513,881

 
$
3,813,832

 
$
679,851

 
$
(3,830,137
)
 
$
5,177,427

Liabilities and stockholders’ equity
 
 
 
 
 
 
 
 
 
Homebuilding:
 
 
 
 
 
 
 
 
 
Accounts payable, accrued expenses and other liabilities
$
143,912

 
$
434,064

 
$
284,374

 
$
—

 
$
862,350

Notes payable
1,716,974

 
5,620

 
25,110

 
—

 
1,747,704

 
1,860,886

 
439,684

 
309,484

 
—

 
2,610,054

Financial services
—

 
—

 
2,065

 
—

 
2,065

Intercompany payables
87,687

 
3,312,907

 
299,674

 
(3,700,268
)
 
—

Stockholders’ equity
2,565,308

 
61,241

 
68,628

 
(129,869
)
 
2,565,308

Total liabilities and stockholders’ equity
$
4,513,881

 
$
3,813,832

 
$
679,851

 
$
(3,830,137
)
 
$
5,177,427



 
November 30, 2019
 
KB Home
Corporate
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Total
Assets
 
 
 
 
 
 
 
 
 
Homebuilding:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
357,966

 
$
65,434

 
$
30,414

 
$
—

 
$
453,814

Receivables
1,934

 
181,047

 
66,074

 
—

 
249,055

Inventories
—

 
3,400,307

 
304,295

 
—

 
3,704,602

Investments in unconsolidated joint ventures
—

 
57,038

 
—

 
—

 
57,038

Property and equipment, net
24,250

 
37,539

 
3,254

 
—

 
65,043

Deferred tax assets, net
96,301

 
237,877

 
30,315

 
—

 
364,493

Other assets
78,686

 
2,666

 
1,689

 
—

 
83,041

 
559,137

 
3,981,908

 
436,041

 
—

 
4,977,086

Financial services
—

 
—

 
38,396

 
—

 
38,396

Intercompany receivables
3,624,081

 
—

 
186,022

 
(3,810,103
)
 
—

Investments in subsidiaries
115,753

 
—

 
—

 
(115,753
)
 
—

Total assets
$
4,298,971

 
$
3,981,908

 
$
660,459

 
$
(3,925,856
)
 
$
5,015,482

Liabilities and stockholders’ equity
 
 
 
 
 
 
 
 
 
Homebuilding:
 
 
 
 
 
 
 
 
 
Accounts payable, accrued expenses and other liabilities
$
139,137

 
$
453,929

 
$
288,489

 
$
—

 
$
881,555

Notes payable
1,715,748

 
7,889

 
25,110

 
—

 
1,748,747

 
1,854,885

 
461,818

 
313,599

 
—

 
2,630,302

Financial services
—

 
—

 
2,058

 
—

 
2,058

Intercompany payables
60,964

 
3,520,090

 
229,049

 
(3,810,103
)
 
—

Stockholders’ equity
2,383,122

 
—

 
115,753

 
(115,753
)
 
2,383,122

Total liabilities and stockholders’ equity
$
4,298,971

 
$
3,981,908

 
$
660,459

 
$
(3,925,856
)
 
$
5,015,482
Condensed Consolidated Statements of Cash Flows

Condensed Consolidating Statements of Cash Flows (in thousands)
 
Nine Months Ended August 31, 2020
 
KB Home
Corporate
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Total
Net cash provided by operating activities
$
62,684

 
$
253,483

 
$
13,044

 
$
—

 
$
329,211

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Contributions to unconsolidated joint ventures
—

 
(6,048
)
 
—

 
—

 
(6,048
)
Return of investments in unconsolidated joint ventures
—

 
8,816

 
—

 
—

 
8,816

Purchases of property and equipment, net
(5,148
)
 
(12,344
)
 
(3,662
)
 
—

 
(21,154
)
Intercompany
256,600

 
—

 
—

 
(256,600
)
 
—

Net cash provided by (used in) investing activities
251,452

 
(9,576
)
 
(3,662
)
 
(256,600
)
 
(18,386
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Payments on mortgages and land contracts due to land sellers and other loans
—

 
(20,314
)
 
—

 
—

 
(20,314
)
Issuance of common stock under employee stock plans
8,404

 
—

 
—

 
—

 
8,404

Tax payments associated with stock-based compensation awards
(6,219
)
 
—

 
—

 
—

 
(6,219
)
Payments of cash dividends
(24,428
)
 
—

 
—

 
—

 
(24,428
)
Intercompany
—

 
(245,632
)
 
(10,968
)
 
256,600

 
—

Net cash used in financing activities
(22,243
)
 
(265,946
)
 
(10,968
)
 
256,600

 
(42,557
)
Net increase (decrease) in cash and cash equivalents
291,893

 
(22,039
)
 
(1,586
)
 
—

 
268,268

Cash and cash equivalents at beginning of period
357,966

 
65,434

 
31,458

 
—

 
454,858

Cash and cash equivalents at end of period
$
649,859

 
$
43,395

 
$
29,872

 
$
—

 
$
723,126


 
Nine Months Ended August 31, 2019
 
KB Home
Corporate
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Consolidating
Adjustments
 
Total
Net cash provided by (used in) operating activities
$
92,935

 
$
(335,428
)
 
$
90,349

 
$
—

 
$
(152,144
)
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Contributions to unconsolidated joint ventures
—

 
(7,656
)
 
—

 
—

 
(7,656
)
Return of investments in unconsolidated joint ventures
—

 
5,001

 
—

 
—

 
5,001

Proceeds from sale of building
—

 
5,804

 
—

 
—

 
5,804

Purchases of property and equipment, net
(4,728
)
 
(18,252
)
 
(9,231
)
 
—

 
(32,211
)
Intercompany
(274,010
)
 
—

 
—

 
274,010

 
—

Net cash used in investing activities
(278,738
)
 
(15,103
)
 
(9,231
)
 
274,010

 
(29,062
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from issuance of debt
405,250

 
—

 
—

 
—

 
405,250

Payment of debt issuance costs
(5,209
)
 
—

 
—

 
—

 
(5,209
)
Repayment of senior notes
(630,000
)
 
—

 
—

 
—

 
(630,000
)
Borrowings under revolving credit facility
460,000

 
—

 
—

 
—

 
460,000

Repayments under revolving credit facility
(410,000
)
 
—

 
—

 
—

 
(410,000
)
Payments on mortgages and land contracts due to land sellers and other loans
—

 
(32,149
)
 
—

 
—

 
(32,149
)
Issuance of common stock under employee stock plans
18,729

 
—

 
—

 
—

 
18,729

Tax payments associated with stock-based compensation awards
(3,345
)
 
—

 
—

 
—

 
(3,345
)
Payments of cash dividends
(12,352
)
 
—

 
—

 
—

 
(12,352
)
Intercompany
—

 
372,454

 
(98,444
)
 
(274,010
)
 
—

Net cash provided by (used in) financing activities
(176,927
)
 
340,305

 
(98,444
)
 
(274,010
)
 
(209,076
)
Net decrease in cash and cash equivalents
(362,730
)
 
(10,226
)
 
(17,326
)
 
—

 
(390,282
)
Cash and cash equivalents at beginning of period
429,977

 
114,269

 
30,873

 
—

 
575,119

Cash and cash equivalents at end of period
$
67,247

 
$
104,043

 
$
13,547

 
$
—

 
$
184,837