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Segment Information
 9 Months Ended
Aug. 31, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
We have identified five operating reporting segments, comprised of four homebuilding reporting segments and one financial services reporting segment. As of August 31, 2025, our homebuilding reporting segments conducted ongoing operations in the following states:
West Coast:California, Idaho and Washington
Southwest:Arizona and Nevada
Central:Colorado and Texas
Southeast:Florida and North Carolina
Our homebuilding reporting segments are engaged in the acquisition and development of land primarily for residential purposes and offer a wide variety of homes that are designed to appeal to first-time, first move-up and active adult homebuyers. Our homebuilding operations generate most of their revenues from the delivery of completed homes to homebuyers. They also earn revenues from the sale of land.
Our financial services reporting segment offers property and casualty insurance and, in certain instances, earthquake, flood and personal property insurance to our homebuyers in the same markets as our homebuilding reporting segments, and provides title services in the majority of our markets located within our Southwest, Central and Southeast homebuilding reporting segments. Our financial services reporting segment earns revenues primarily from insurance commissions and from the provision of title services.
We offer mortgage banking services, including residential consumer mortgage loan (“mortgage loan”) originations, to our homebuyers indirectly through KBHS Home Loans, LLC (“KBHS”), our unconsolidated joint venture with GR Alliance Ventures, LLC (“GR Alliance”), a subsidiary of Guaranteed Rate, Inc. We and GR Alliance each have a 50.0% ownership interest, with GR Alliance providing management oversight of KBHS’ operations.
Our reporting segments follow the same accounting policies used for our consolidated financial statements. The results of each reporting segment are not necessarily indicative of the results that would have occurred had the segment been an independent, stand-alone entity during the periods presented, nor are they indicative of the results to be expected in future periods.
The following tables present financial information relating to our homebuilding reporting segments (in thousands):
 Three Months Ended August 31,Nine Months Ended August 31,
 2025202420252024
Revenues:
West Coast$664,880 $760,617 $1,926,722 $2,017,336 
Southwest335,505 312,812 962,486 954,602 
Central310,603 372,862 869,182 1,069,136 
Southeast303,474 299,688 767,829 868,115 
Total
$1,614,462 $1,745,979 $4,526,219 $4,909,189 
 Three Months Ended August 31,Nine Months Ended August 31,
 2025202420252024
Pretax income (loss):
West Coast$71,280 $99,222 $216,925 $252,099 
Southwest57,338 54,826 171,432 165,302 
Central18,211 43,304 64,387 128,446 
Southeast22,225 33,003 55,529 103,827 
Corporate and other (34,512)(33,879)(107,678)(82,254)
Total $134,542 $196,476 $400,595 $567,420 
Inventory impairment and land option contract abandonment charges:
West Coast$1,133 $496 $2,973 $2,441 
Southwest511 — 1,642 116 
Central7,240 469 9,372 725 
Southeast2,454 212 4,364 403 
Total$11,338 $1,177 $18,351 $3,685 
August 31,
2025		November 30,
2024
Assets:
West Coast$3,426,768 $3,178,188 
Southwest981,884 915,072 
Central1,008,330 1,001,393 
Southeast1,008,395 972,993 
Corporate and other500,417 801,600 
Total $6,925,794 $6,869,246