KB Home (KBH) 10-K 25 Jan 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Nov. 30, 2015	Dec. 31, 2015	May. 31, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	KB Home
Entity Central Index Key	795,266
Document Type	10-K
Document Period End Date	Nov. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--11-30
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 1,512,772,004
Entity Common Stock Shares Outstanding		92,275,658

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		3 Months Ended								12 Months Ended
		Nov. 30, 2015	Aug. 31, 2015	May. 31, 2015	Feb. 28, 2015	Nov. 30, 2014	Aug. 31, 2014	May. 31, 2014	Feb. 28, 2014	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Total revenues		$ 985,783	$ 843,157	$ 622,969	$ 580,121	$ 796,041	$ 589,214	$ 565,007	$ 450,687	$ 3,032,030	$ 2,400,949	$ 2,097,130
Homebuilding:
Revenues										3,020,987	2,389,643	2,084,978
Construction and land costs										(2,539,368)	(1,985,651)	(1,737,086)
Selling, general and administrative expenses										(342,998)	(288,023)	(255,808)
Operating income (loss)										138,621	115,969	92,084
Interest income										458	443	792
Interest expense	[1]									(21,856)	(30,750)	(62,690)
Equity in income (loss) of unconsolidated joint ventures										2,488	1,427	(933)
Financial services:
Revenues										11,043	11,306	12,152
Expenses										(3,711)	(3,446)	(3,042)
Pretax income (loss)		69,917	33,954	12,673	10,499	28,601	28,661	26,924	10,763	127,043	94,949	38,363
Income tax benefit						824,200				(42,400)	823,400	1,600
Net income (loss)		$ 44,017	$ 23,254	$ 9,573	$ 7,799	$ 852,801	$ 28,361	$ 26,624	$ 10,563	$ 84,643	$ 918,349	$ 39,963
Earnings (Loss) Per Share, Basic, in dollars per share		$ 0.48	$ 0.25	$ 0.10	$ 0.08	$ 9.25	$ 0.31	$ 0.30	$ 0.13	$ 0.92	$ 10.26	$ 0.48
Earnings (Loss) Per Share, Diluted, in dollars per share		$ 0.43	$ 0.23	$ 0.10	$ 0.08	$ 8.36	$ 0.28	$ 0.27	$ 0.12	$ 0.85	$ 9.25	$ 0.46
Weighted Average Number of Shares Outstanding, Basic										92,054	89,265	82,630
Weighted Average Number of Shares Outstanding, Diluted										102,857	99,314	91,559
Homebuilding [Member]
Total revenues										$ 3,020,987	$ 2,389,643	$ 2,084,978
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures										(1,804)	741	(2,007)
Financial services:
Pretax income (loss)										115,419	86,403	28,179
Financial services [Member]
Total revenues										11,043	11,306	12,152
Homebuilding:
Operating income (loss)										7,332	7,860	9,110
Equity in income (loss) of unconsolidated joint ventures										4,292	686	1,074
Financial services:
Pretax income (loss)										$ 11,624	$ 8,546	$ 10,184
[1]	Amounts for the year ended November 30, 2013 included losses on the early extinguishment of debt of $10.4 million associated with the purchase and retirement of certain senior notes ahead of their maturity.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income Statement - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 84,643	$ 918,349	$ 39,963
Net actuarial gain (loss) arising during the period	3,745	(3,801)	7,083
Amortization of net actuarial loss	848	357	1,803
Amortization of prior service cost	1,556	1,556	1,556
Other comprehensive income (loss) before tax	6,149	(1,888)	10,442
Income tax expense related to items of other comprehensive income	(2,460)	(1,604)	0
Other comprehensive income (loss), net of tax	3,689	(3,492)	10,442
Comprehensive income	$ 88,332	$ 914,857	$ 50,405

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Nov. 30, 2015	Nov. 30, 2014
Assets
Cash and cash equivalents	$ 560,341	$ 358,768
Restricted cash	9,344	27,235
Receivables	152,682	125,488
Inventories	3,313,747	3,218,387
Investments in unconsolidated joint ventures	71,558	79,441
Deferred tax assets, net	782,196	825,232
Other assets	112,774	114,915
Total assets	5,015,371	4,757,550
Liabilities and stockholders' equity
Accounts payable	183,770	172,716
Accrued expenses and other liabilities	513,414	409,882
Notes payable	2,625,536	2,576,525
Financial services	1,817	2,517
Stockholders' equity:
Preferred stock - $1.00 par value; authorized 10,000,000 shares; none issued	0	0
Common stock — $1.00 par value; 290,000,000 shares authorized at November 30, 2015 and 2014; 115,547,682 and 115,386,512 shares issued at November 30, 2015 and 2014, respectively	115,548	115,387
Paid-in capital	682,871	668,857
Retained earnings	1,466,713	1,391,256
Accumulated other comprehensive loss	(17,319)	(21,008)
Grantor stock ownership trust, at cost: 10,135,461 and 10,335,461 shares at November 30, 2015 and 2014, respectively	(109,936)	(112,106)
Treasury stock, at cost: 13,136,563 and 13,097,140 shares at November 30, 2015 and 2014, respectively	(447,043)	(446,476)
Total stockholder's equity	1,690,834	1,595,910
Total liabilities and stockholders' equity	5,015,371	4,757,550
Homebuilding [Member]
Assets
Cash and cash equivalents	559,042	356,366
Total assets	5,001,343	4,747,064
Liabilities and stockholders' equity
Total Homebuilding	3,322,720	3,159,123
Financial services [Member]
Assets
Cash and cash equivalents	1,299	2,402
Receivables	2,245	1,738
Investments in unconsolidated joint ventures	10,440	6,149
Other assets	44	197
Total assets	$ 14,028	$ 10,486

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Nov. 30, 2015	Nov. 30, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value, in dollars	$ 1	$ 1
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value, in dollars	$ 1	$ 1
Common stock, shares authorized	290,000,000	290,000,000
Common stock, shares issued	115,547,682	115,386,512
Grantor stock ownership trust	10,135,461	10,335,461
Treasury Stock, Shares	13,136,563	13,097,140

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Grantor Stock Ownership Trust	Treasury Stock	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning Balance, Shares at Nov. 30, 2012		(115,178,000)	(10,616,000)	(27,340,000)
Balance at Nov. 30, 2012	$ 376,806	$ 115,178	$ (115,149)	$ (934,136)	$ 888,579	$ 450,292	$ (27,958)
Net income (loss)	39,963					39,963
Other comprehensive income (loss), net of tax	10,442						10,442
Dividends on common stock	$ (8,366)					(8,366)
Employee stock options/other, Shares	(118,208)	(118,000)
Employee stock options/other, Value	$ 1,592	$ 118			1,474
Conversion of liability awards to equity awards, Shares				478,000
Conversion of liability awards to equity awards, Value	8,346			$ 7,934	412
Restricted stock awards, Shares			88,000
Restricted stock awards, Value	0		$ 954		(954)
Stock-based compensation	5,699				5,699
Issuance of common stock, Shares				6,325,000
Issuance of common stock, Value	109,503			$ 216,125	(106,622)
Grantor stock ownership trust, Shares			26,000
Grantor stock ownership trust, Value	589		$ 284		305
Treasury stock, Shares				(513,000)
Treasury stock, Value	(8,488)			$ (8,488)
Ending Balance, Shares at Nov. 30, 2013		(115,296,000)	(10,502,000)	(21,050,000)
Balance at Nov. 30, 2013	536,086	$ 115,296	$ (113,911)	$ (718,565)	788,893	481,889	(17,516)
Net income (loss)	918,349					918,349
Other comprehensive income (loss), net of tax	(3,492)						(3,492)
Dividends on common stock	$ (8,982)					(8,982)
Employee stock options/other, Shares	(36,665)	(37,000)
Employee stock options/other, Value	$ 1,896	$ 37			1,859
Conversion of liability awards to equity awards, Value	6,455				6,455
Restricted stock awards, Shares		54,000	166,000
Restricted stock awards, Value	0	$ 54	$ 1,805		(1,859)
Stock-based compensation	9,099				9,099
Issuance of common stock, Shares				7,986,000
Issuance of common stock, Value	137,045			$ 272,635	(135,590)
Treasury stock, Shares				(33,000)
Treasury stock, Value	(546)			$ (546)
Ending Balance, Shares at Nov. 30, 2014		(115,387,000)	(10,336,000)	(13,097,000)
Balance at Nov. 30, 2014	1,595,910	$ 115,387	$ (112,106)	$ (446,476)	668,857	1,391,256	(21,008)
Net income (loss)	84,643					84,643
Other comprehensive income (loss), net of tax	3,689						3,689
Dividends on common stock	$ (9,186)					(9,186)
Employee stock options/other, Shares	(76,164)	(76,000)
Employee stock options/other, Value	$ (798)	$ 76			(874)
Restricted stock awards, Shares		85,000	200,000
Restricted stock awards, Value	0	$ 85	$ 2,170		(2,255)
Stock-based compensation	17,143				17,143
Treasury stock, Shares				(40,000)
Treasury stock, Value	(567)			$ (567)
Ending Balance, Shares at Nov. 30, 2015		(115,548,000)	(10,136,000)	(13,137,000)
Balance at Nov. 30, 2015	$ 1,690,834	$ 115,548	$ (109,936)	$ (447,043)	$ 682,871	$ 1,466,713	$ (17,319)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Cash flows from operating activities:
Net income (loss)	$ 84,643	$ 918,349	$ 39,963
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in (income) loss of unconsolidated joint ventures	(2,488)	(1,427)	933
Distributions of earnings from unconsolidated joint ventures	0	364	1,949
Amortization of discounts and issuance costs	7,738	7,124	5,347
Depreciation and amortization	3,411	2,420	1,857
Deferred income taxes	43,036	(825,232)	0
Loss on early extinguishment of debt	0	0	10,448
Excess tax benefits from stock-based compensation	(157)	0	0
Stock-based compensation	17,143	9,099	5,699
Inventory impairments and land option contract abandonments	9,591	39,431	3,581
Changes in assets and liabilities:
Receivables	(20,463)	(31,283)	(11,153)
Inventories	34,852	(780,131)	(563,189)
Accounts payable, accrued expenses and other liabilities	1,991	35,504	59,763
Other, net	1,888	(4,909)	1,316
Net cash provided by (used in) operating activities	181,185	(630,691)	(443,486)
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	(20,626)	(49,097)	(14,359)
Return of investments in unconsolidated joint ventures	14,000	0	0
Proceeds from sale of investment in unconsolidated joint venture	0	10,110	0
Purchases of property and equipment, net	(4,677)	(5,795)	(2,391)
Net cash used in investing activities	(11,303)	(44,782)	(16,750)
Cash flows from financing activities:
Change in restricted cash	17,891	14,671	456
Proceeds from issuance of debt	250,000	400,000	680,000
Payment of debt issuance costs	(4,561)	(5,448)	(16,525)
Repayment of senior notes	(199,906)	0	(225,394)
Payments on mortgages and land contracts due to land sellers and other loans	(22,877)	(36,918)	(66,296)
Proceeds from issuance of common stock, net	0	137,045	109,503
Issuance of common stock under employee stock plans	740	1,896	2,181
Excess tax benefits from stock-based compensation	157	0	0
Payments of cash dividends	(9,186)	(8,982)	(8,366)
Stock repurchases	(567)	(546)	(8,488)
Net cash provided by financing activities	31,691	501,718	467,071
Net increase (decrease) in cash and cash equivalents	201,573	(173,755)	6,835
Cash and cash equivalents at beginning of year	358,768	532,523	525,688
Cash and cash equivalents at end of year	$ 560,341	$ 358,768	$ 532,523

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Nov. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Operations. KB Home is a builder of attached and detached single-family residential homes, townhomes and condominiums. As of November 30, 2015 , we conducted ongoing operations in Arizona, California, Colorado, Florida, Maryland, Nevada, North Carolina, Texas and Virginia. We also offer property and casualty insurance and, in certain instances, earthquake, flood and personal property insurance to our homebuyers in the same markets where we build homes, and provide title services in the majority of our markets located within our Central and Southeast homebuilding reporting segments. Since July 2014, we have also offered mortgage banking services, including mortgage loan originations, to our homebuyers indirectly through HCM, a joint venture of a subsidiary of ours and a subsidiary of Nationstar. HCM is accounted for as an unconsolidated joint venture within our financial services reporting segment. Basis of Presentation. Our consolidated financial statements have been prepared in accordance with GAAP and include our accounts and those of the consolidated subsidiaries in which we have a controlling financial interest. All intercompany balances and transactions have been eliminated in consolidation. Investments in unconsolidated joint ventures in which we have less than a controlling financial interest are accounted for using the equity method. Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make informed estimates and judgments that affect the amounts reported in our consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Cash and Cash Equivalents and Restricted Cash. We consider all highly liquid short-term investments purchased with an original maturity of three months or less to be cash equivalents. Our cash equivalents totaled $342.3 million at November 30, 2015 and $197.7 million at November 30, 2014 . The majority of our cash and cash equivalents were invested in money market funds and interest-bearing bank deposit accounts. Restricted cash at November 30, 2015 and November 30, 2014 consisted of cash deposited with various financial institutions that was required as collateral for our LOC Facilities. Property and Equipment and Depreciation. Property and equipment are recorded at cost and are depreciated over their estimated useful lives, which generally range from two to 10 years, using the straight-line method. Repair and maintenance costs are expensed as incurred. Property and equipment totaled $13.1 million , net of accumulated depreciation of $15.3 million , at November 30, 2015 and $11.8 million , net of accumulated depreciation of $15.0 million , at November 30, 2014 . Depreciation expense totaled $3.4 million in 2015 , $2.4 million in 2014 and $1.9 million in 2013 . Homebuilding Operations. Revenues from housing and other real estate sales are recognized when sales are closed and title passes to the buyer. Sales are closed when all of the following conditions are met: a sale is consummated, a sufficient down payment is received, the earnings process is complete and the collection of any remaining receivables is reasonably assured. Concurrent with the recognition of revenues in our consolidated statements of operations, sales incentives in the form of price concessions on the selling price of a home are recorded as a reduction of revenues, while the cost of sales incentives in the form of free products or services to homebuyers, including option upgrades and closing cost allowances used to cover a portion of the fees and costs charged to a homebuyer, is reflected as construction and land costs. Construction and land costs are comprised of direct and allocated costs, including estimated future costs for the limited warranty we provide on our homes and certain amenities within a community. Land acquisition, land development and other common costs are generally allocated on a relative fair value basis to the homes or lots within the applicable community or land parcel. Land acquisition and land development costs include related interest and real estate taxes. H ousing and land inventories are stated at cost, unless the carrying value is determined not to be recoverable, in which case the affected inventories are written down to fair value or fair value less costs to sell. Real estate assets, such as our housing and land inventories, are tested for recoverability whenever events or changes in circumstances indicate that their carrying value may not be recoverable. Recoverability is measured by comparing the carrying value of an asset to the undiscounted future net cash flows expected to be generated by the asset. These impairment evaluations are significantly impacted by estimates for the amounts and timing of future revenues, costs and expenses, and other factors. If the carrying value of real estate assets is determined not to be recoverable, the impairment charge to be recognized is measured by the amount by which the carrying value of the affected asset exceeds its estimated fair value. For land held for sale, if the fair value less costs to sell exceeds the asset’s carrying value, no impairment charge is recognized. Capitalized Interest. Interest is capitalized to inventories while the related communities are being actively developed and until homes are completed. Capitalized interest is amortized to construction and land costs as the related inventories are delivered to homebuyers or land buyers (as applicable). For land held for future development, applicable interest is expensed as incurred. Fair Value Measurements. Fair value measurements are used for inventories on a nonrecurring basis when events and circumstances indicate that their carrying value is not recoverable. Fair value is determined based on estimated future net cash flows discounted for inherent risks associated with the real estate assets, or other valuation techniques. Our financial instruments consist of cash and cash equivalents, restricted cash, senior notes, convertible senior notes, and mortgages and land contracts due to land sellers and other loans. Fair value measurements of financial instruments are determined by various market data and other valuation techniques as appropriate. When available, we use quoted market prices in active markets to determine fair value. Financial Services Operations. Our financial services reporting segment generates revenues primarily from insurance commissions and title services. These operations also earned marketing services fees, pursuant to a marketing services agreement with a preferred lender, until July 21, 2014. Marketing services fees were recognized when earned. Insurance commissions are recognized when policies are issued. Title services revenues are recorded when closing services are rendered and title insurance policies are issued, both of which generally occur at the time each applicable home is closed. Warranty Costs. We provide a limited warranty on all of our homes. We estimate the costs that may be incurred under each limited warranty and record a liability in the amount of such costs at the time the revenue associated with the sale of each home is recognized. Our primary assumption in estimating the amounts we accrue for warranty costs is that historical claims experience is a strong indicator of future claims experience. Factors that affect our warranty liability include the number of homes delivered, historical and anticipated rates of warranty claims, and cost per claim. We periodically assess the adequacy of our accrued warranty liability and adjust the amount as necessary based on our assessment. Self-Insurance. We self-insure a portion of our overall risk through the use of a captive insurance subsidiary. We also maintain certain other insurance policies. We record expenses and liabilities based on the estimated costs required to cover our self-insured retention and deductible amounts under our insurance policies, and the estimated costs of potential claims and claim adjustment expenses that are above our coverage limits or that are not covered by our insurance policies. These estimated costs are based on an analysis of our historical claims and industry data, and include an estimate of construction defect claims incurred but not yet reported. We engage a third-party actuary that uses our historical claim and expense data, as well as industry data, to estimate our liabilities related to unpaid claims, claim adjustment expenses, third-party recoveries and incurred but not yet reported claims associated with the risks that we are assuming with respect to our self-insurance and insurance policy deductibles. The projection of losses related to these liabilities requires actuarial assumptions that are subject to variability due to uncertainties regarding construction defect claims relative to differences in our markets and the types of product we build, insurance industry practices and legal or regulatory interpretations, among other factors. Key assumptions used in these estimates include claim frequencies, severities and settlement patterns, which can occur over an extended period of time. Advertising Costs. We expense advertising costs as incurred. We incurred advertising costs of $33.4 million in 2015 , $30.2 million in 2014 and $25.3 million in 2013 . Legal Fees. Legal fees associated with litigation and similar proceedings that are not expected to provide a benefit in future periods are generally expensed as incurred. Legal fees associated with land acquisition and development and other activities that are expected to provide a benefit in future periods are capitalized as incurred in our consolidated balance sheets. We expensed legal fees of $11.7 million in 2015 , $10.9 million in 2014 and $10.1 million in 2013 . Stock-Based Compensation. We measure and recognize compensation expense associated with our grant of equity-based awards at an amount equal to the fair value of share-based payments granted under compensation arrangements over the vesting period. We estimate the fair value of stock options and SARs granted using the Black-Scholes option-pricing model with assumptions based primarily on historical data. We report the tax benefit resulting from tax deductions in excess of the compensation expense recognized for stock options and SARs in our consolidated statements of cash flows as an operating cash outflow and a financing cash inflow. Income Taxes. The provision for, or benefit from, income taxes is calculated using the asset and liability method, under which deferred tax assets and liabilities are recorded based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are evaluated on a quarterly basis to determine if adjustments to the valuation allowance are required. This evaluation is based on the consideration of all available positive and negative evidence using a “more likely than not” standard with respect to whether deferred tax assets will be realized. The ultimate realization of our deferred tax assets depends primarily on our ability to generate future taxable income during the periods in which the related temporary differences in the financial basis and the tax basis of the assets become deductible. The value of our deferred tax assets depends on applicable income tax rates. Accumulated Other Comprehensive Loss. The accumulated balances of other comprehensive loss in the consolidated balance sheets as of November 30, 2015 and 2014 were comprised solely of adjustments recorded directly to accumulated other comprehensive loss related to our benefit plan obligations. Such adjustments are made annually as of November 30, when our benefit plan obligations are remeasured. Earnings Per Share. We compute earnings per share using the two-class method, which is an allocation of earnings between the holders of common stock and a company’s participating security holders. Our outstanding nonvested shares of restricted stock contain non-forfeitable rights to dividends and, therefore, are considered participating securities for purposes of computing earnings per share pursuant to the two-class method. We had no other participating securities at November 30, 2015 , 2014 or 2013 . Recent Accounting Pronouncements. In April 2014, the FASB issued Accounting Standards Update No. 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity” (“ASU 2014-08”), which raises the threshold for a disposal to qualify as a discontinued operation and requires new disclosures of both discontinued operations and certain other disposals that do not meet the new definition of a discontinued operation. It also allows an entity to present a discontinued operation even when it has continuing cash flows and significant continuing involvement with the disposed component. The amendments in ASU 2014-08 are effective prospectively for disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. We believe the adoption of this guidance will not have a material effect on our consolidated financial statements. In May 2014, the FASB issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Companies may use either a full retrospective or a modified retrospective approach to adopt ASU 2014-09. In August 2015, the FASB issued Accounting Standards Update No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” which delayed the effective date of ASU 2014-09 by one year. ASU 2014-09, as amended, is effective for public companies for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. In June 2014, the FASB issued Accounting Standards Update No. 2014-12, “Compensation — Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period” (“ASU 2014-12”). The amendments in ASU 2014-12 require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in ASC 718, as it relates to awards with performance conditions that affect vesting to account for such awards. The amendments in ASU 2014-12 are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Early adoption is permitted. Entities may apply the amendments in ASU 2014-12 either: (a) prospectively to all awards granted or modified after the effective date; or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. We believe the adoption of this guidance will not have a material effect on our consolidated financial statements. In August 2014, the FASB issued Accounting Standards Update No. 2014-15, “Presentation of Financial Statements — Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”), which requires management to evaluate, in connection with preparing financial statements for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable) and provide related disclosures. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. We believe the adoption of this guidance will not have a material effect on our consolidated financial statements. In January 2015, the FASB issued Accounting Standards Update No. 2015-01, “Income Statement — Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items” (“ASU 2015-01”). ASU 2015-01 eliminates the concept of extraordinary items from GAAP but retains the presentation and disclosure guidance for items that are unusual in nature or occur infrequently and expands the guidance to include items that are both unusual in nature and infrequently occurring. ASU 2015-01 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. A reporting entity may apply ASU 2015-01 prospectively. A reporting entity may also apply ASU 2015-01 retrospectively to all periods presented in the financial statements. We believe the adoption of this guidance will not have a material effect on our consolidated financial statements. In February 2015, the FASB issued Accounting Standards Update No. 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis” (“ASU 2015-02”). ASU 2015-02 changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. ASU 2015-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. We believe the adoption of this guidance will not have a material effect on our consolidated financial statements. In April 2015, the FASB issued Accounting Standards Update No. 2015-03, “Interest — Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-03”). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. For public entities, ASU 2015-03 is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. ASU 2015-03 is to be applied on a retrospective basis and represents a change in accounting principle. We believe the adoption of this guidance will not have a material effect on our consolidated financial statements. In August 2015, the FASB issued Accounting Standards Update No. 2015-15, “Interest — Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements — Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting” (“ASU 2015-15”), which clarifies the treatment of debt issuance costs from line-of-credit arrangements after the adoption of ASU 2015-03. In particular, ASU 2015-15 clarifies that the SEC staff would not object to an entity deferring and presenting debt issuance costs related to a line-of-credit arrangement as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of such arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. We believe the adoption of this guidance will not have a material effect on our consolidated financial statements. Reclassifications. Certain amounts in our consolidated financial statements of prior years have been reclassified to conform to the current period presentation.

Segment Information

Segment Information	12 Months Ended
	Nov. 30, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information As of November 30, 2015 , we had identified five operating reporting segments, comprised of four homebuilding reporting segments and one financial services reporting segment, within our consolidated operations. As of November 30, 2015 , our homebuilding reporting segments conducted ongoing operations in the following states: West Coast: California Southwest: Arizona and Nevada Central: Colorado and Texas Southeast: Florida, Maryland, North Carolina and Virginia 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, 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 homebuilding reporting segments were identified based primarily on similarities in economic and geographic characteristics, product types, regulatory environments, methods used to sell and construct homes and land acquisition characteristics. We evaluate segment performance primarily based on segment pretax results. 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 Central and Southeast homebuilding reporting segments. This segment earns revenues primarily from insurance commissions and from the provision of title services. Prior to July 21, 2014, this segment also earned revenues pursuant to the terms of a marketing services agreement with Nationstar, under which Nationstar was our preferred mortgage lender and offered mortgage banking services, including mortgage loan originations, to our homebuyers who elected to use the lender. Since July 21, 2014, we have offered mortgage banking services, including mortgage loan originations, to our homebuyers indirectly through HCM, a joint venture of a subsidiary of ours and a subsidiary of Nationstar. Through these respective subsidiaries, we have a 49.9% ownership interest and Nationstar has a 50.1% ownership interest in HCM, with Nationstar providing management oversight of HCM’s operations. Our homebuyers may select any lender of their choice to obtain mortgage financing for the purchase of a home. Corporate and other is a non-operating segment that develops and oversees the implementation of company-wide strategic initiatives and provides support to our reporting segments by centralizing certain administrative functions. Corporate and other includes general and administrative expenses related to operating our corporate headquarters. A portion of the expenses incurred by Corporate and other is allocated to our homebuilding reporting segments. Our segments follow the same accounting policies used for our consolidated financial statements as described in Note 1. Summary of Significant Accounting Policies. The results of each 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 segments (in thousands): Years Ended November 30, 2015 2014 2013 Revenues: West Coast $ 1,402,264 $ 1,089,857 $ 1,020,218 Southwest 398,242 199,504 175,252 Central 809,738 698,429 565,120 Southeast 410,743 401,853 324,388 Total homebuilding revenues 3,020,987 2,389,643 2,084,978 Financial services 11,043 11,306 12,152 Total $ 3,032,030 $ 2,400,949 $ 2,097,130 Pretax income (loss): West Coast $ 127,946 $ 116,325 $ 118,264 Southwest 31,718 6,015 2,903 Central 70,959 47,214 22,275 Southeast (22,758 ) (11,158 ) (45,992 ) Corporate and other (92,446 ) (71,993 ) (69,271 ) Total homebuilding pretax income 115,419 86,403 28,179 Financial services 11,624 8,546 10,184 Total $ 127,043 $ 94,949 $ 38,363 Equity in income (loss) of unconsolidated joint ventures: West Coast $ (1,106 ) $ (374 ) $ (148 ) Southwest (696 ) (2,176 ) (2,355 ) Central — — — Southeast (2 ) 3,291 496 Total $ (1,804 ) $ 741 $ (2,007 ) Inventory impairment charges: West Coast $ 645 $ 27,285 $ — Southwest 3,253 6,392 — Central — — — Southeast 4,132 3,951 391 Total $ 8,030 $ 37,628 $ 391 Years Ended November 30, 2015 2014 2013 Land option contract abandonments: West Coast $ 352 $ 554 $ 3,190 Southwest — — — Central 225 995 — Southeast 984 254 — Total $ 1,561 $ 1,803 $ 3,190 November 30, 2015 2014 Inventories: Homes under construction West Coast $ 535,795 $ 536,843 Southwest 112,032 65,647 Central 263,345 201,164 Southeast 120,184 124,618 Subtotal 1,031,356 928,272 Land under development West Coast 788,607 765,577 Southwest 317,331 334,691 Central 421,783 363,933 Southeast 238,324 245,948 Subtotal 1,766,045 1,710,149 Land held for future development West Coast 277,954 294,060 Southwest 104,677 138,367 Central 22,082 22,957 Southeast 111,633 124,582 Subtotal 516,346 579,966 Total $ 3,313,747 $ 3,218,387 Investments in unconsolidated joint ventures: West Coast $ 54,360 $ 59,552 Southwest 14,697 17,388 Central — — Southeast 2,501 2,501 Total $ 71,558 $ 79,441 November 30, 2015 2014 Assets: West Coast $ 1,740,299 $ 1,695,753 Southwest 582,030 579,201 Central 829,811 678,139 Southeast 507,844 531,011 Corporate and other 1,341,359 1,262,960 Total homebuilding assets 5,001,343 4,747,064 Financial services 14,028 10,486 Total $ 5,015,371 $ 4,757,550

Financial Services

Financial Services	12 Months Ended
	Nov. 30, 2015
Segment Reporting [Abstract]
Financial Services	Financial Services The following tables present financial information relating to our financial services reporting segment (in thousands): Years Ended November 30, 2015 2014 2013 Revenues Insurance commissions $ 7,137 $ 6,566 $ 7,177 Title services 3,905 3,593 3,172 Marketing services fees — 1,147 1,800 Interest income 1 — 3 Total 11,043 11,306 12,152 Expenses General and administrative (3,711 ) (3,446 ) (3,042 ) Operating income 7,332 7,860 9,110 Equity in income of unconsolidated joint ventures 4,292 686 1,074 Pretax income $ 11,624 $ 8,546 $ 10,184 November 30, 2015 2014 Assets Cash and cash equivalents $ 1,299 $ 2,402 Receivables 2,245 1,738 Investments in unconsolidated joint ventures 10,440 6,149 Other assets 44 197 Total assets $ 14,028 $ 10,486 Liabilities Accounts payable and accrued expenses $ 1,817 $ 2,517 Total liabilities $ 1,817 $ 2,517 The equity in income of unconsolidated joint ventures for 2013 included a gain of $1.1 million recognized in connection with the wind down of the business operations of a former mortgage banking joint venture, which ceased offering mortgage banking services in 2011. Although KB HOME Mortgage Company, which is 100% owned by us, ceased originating and selling mortgage loans in September 2005, it may be required to repurchase, or provide indemnification with respect to, an individual loan that it funded on or before August 31, 2005 and sold to an investor if the representations or warranties that it made in connection with the sale of the loan are breached, in the event of an early payment default, if the loan does not comply with the underwriting standards or other requirements of the ultimate investor or an applicable insurer, or due to a delinquency or other matters arising in connection with the loan. KB HOME Mortgage Company was not required to repurchase any loans in the past few years.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Nov. 30, 2015
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings Per Share Basic and diluted earnings per share were calculated as follows (in thousands, except per share amounts): Years Ended November 30, 2015 2014 2013 Numerator: Net income $ 84,643 $ 918,349 $ 39,963 Less: Distributed earnings allocated to nonvested restricted stock (33 ) (26 ) (24 ) Less: Undistributed earnings allocated to nonvested restricted stock (273 ) (2,667 ) (90 ) Numerator for basic earnings per share 84,337 915,656 39,849 Effect of dilutive securities: Interest expense and amortization of debt issuance costs associated with convertible senior notes, net of taxes 2,667 2,667 2,230 Add: Undistributed earnings allocated to nonvested restricted stock 273 2,667 90 Less: Undistributed earnings reallocated to nonvested restricted stock (244 ) (2,398 ) (81 ) Numerator for diluted earnings per share $ 87,033 $ 918,592 $ 42,088 Denominator: Weighted average shares outstanding — basic 92,054 89,265 82,630 Effect of dilutive securities: Share-based payments 2,401 1,647 1,885 Convertible senior notes 8,402 8,402 7,044 Weighted average shares outstanding — diluted 102,857 99,314 91,559 Basic earnings per share $ .92 $ 10.26 $ .48 Diluted earnings per share $ .85 $ 9.25 $ .46 As discussed in Note 13. Notes Payable, in 2013, we issued the 1.375% Convertible Senior Notes due 2019 that, from issuance, have been convertible into shares of our common stock at a conversion rate of 36.5297 shares for each $1,000 principal amount of the notes. Outstanding stock options to purchase 8.0 million , 5.2 million and 5.2 million shares of common stock were excluded from the diluted earnings per share calculations for 2015 , 2014 and 2013 , respectively, because the effect of their inclusion would be antidilutive. Contingently issuable shares associated with outstanding PSUs were not included in the basic earnings per share calculations for the periods presented as the vesting conditions have not been satisfied.

Receivables

Receivables	12 Months Ended
	Nov. 30, 2015
Receivables [Abstract]
Receivables	Receivables Receivables of $152.7 million at November 30, 2015 and $125.5 million at November 30, 2014 primarily included amounts due from utility companies and municipalities; escrow deposits to be refunded; and estimated minimum probable recoveries of water intrusion-related repair costs, as described in Note 15. Commitments and Contingencies. Receivables from utility companies and municipalities typically relate to infrastructure improvements we make with respect to our communities. We are generally reimbursed for the cost of such improvements when they are accepted by the utility company or municipality, or after certain events occur, depending on the terms of the applicable agreements. These events may include, but are not limited to, the connection of utilities or the issuance of bonds by the respective municipalities. Each receivable is evaluated for collectibility at least quarterly, and allowances for potential losses are established or maintained on applicable receivables when collection becomes doubtful, taking into account historical experience, prevailing economic conditions and other relevant factors. Receivables were net of allowances for doubtful accounts of $12.2 million in 2015 and $15.3 million in 2014 .

Inventories

Inventories	12 Months Ended
	Nov. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following (in thousands): November 30, 2015 2014 Homes under construction $ 1,031,356 $ 928,272 Land under development 1,766,045 1,710,149 Land held for future development 516,346 579,966 Total $ 3,313,747 $ 3,218,387 Homes under construction is comprised of costs associated with homes in various stages of construction and includes direct construction and related land acquisition and land development costs. Land under development primarily consists of land acquisition and land development costs. Land development costs also include capitalized interest and real estate taxes. When home construction begins, the associated land acquisition and land development costs are included in homes under construction. Land held for future development principally reflects land acquisition and land development costs related to land where development activity has been suspended or has not yet begun but is expected to occur in the future. These assets held for future development are located in various submarkets where conditions do not presently support further investment or development, or are subject to a building permit moratorium or regulatory restrictions, or are portions of larger land parcels that we plan to build out over several years and/or that have not yet been entitled. We may also suspend development activity if we believe it will result in greater returns and/or maximize the economic performance of a particular community by delaying improvements for a period of time to, for instance, allow earlier phases of a long-term, multi-phase community or a neighboring community to generate sales momentum or for market conditions to improve. In some instances, we may activate or resume development activity for this inventory to accelerate sales and/or our return on investment. We have activated assets previously held for future development in certain markets as part of our strategic growth initiatives. Interest and real estate taxes are not capitalized on land held for future development. Our interest costs were as follows (in thousands): Years Ended November 30, 2015 2014 2013 Capitalized interest at beginning of year $ 266,668 $ 216,681 $ 217,684 Interest incurred (a) 186,885 171,541 149,101 Interest expensed (a) (21,856 ) (30,750 ) (62,690 ) Interest amortized to construction and land costs (b) (143,255 ) (90,804 ) (87,414 ) Capitalized interest at end of year (c) $ 288,442 $ 266,668 $ 216,681 (a) Amounts for the year ended November 30, 2013 included losses on the early extinguishment of debt of $10.4 million associated with the purchase and retirement of certain senior notes ahead of their maturity. (b) Interest amortized to construction and land costs for the year ended November 30, 2015 included $16.4 million related to land sales during the period. (c) Capitalized interest amounts presented in the table reflect the gross amount of capitalized interest, as inventory impairment charges recognized, if any, are not generally allocated to specific components of inventory.

Inventory Impairments and Land

Inventory Impairments and Land Option Contract Abandonments	12 Months Ended
	Nov. 30, 2015
Inventory Impairments and Land Option Contract Abandonments [Abstract]
Inventory Impairments and Land Option Contract Abandonments	Inventory Impairments and Land Option Contract Abandonments E ach community or land parcel in our owned inventory is assessed to determine if indicators of potential impairment exist. Impairment indicators are assessed separately for each community or land parcel on a quarterly basis and include, but are not limited to, the following: significant decreases in net orders, average selling prices, volume of homes delivered, gross profit margins on homes delivered or projected gross profit margins on homes in backlog or future deliveries; significant increases in budgeted land development and home construction costs or cancellation rates; or projected losses on expected future land sales. If indicators of potential impairment exist for a community or land parcel, the identified asset is evaluated for recoverability. We evaluated 35 , 32 and 31 communities or land parcels for recoverability during the years ended November 30, 2015 , 2014 and 2013 , respectively. The carrying value of those communities or land parcels evaluated was $286.3 million , $266.9 million and $146.0 million during the years ended November 30, 2015 , 2014 and 2013 , respectively. As impairment indicators are assessed on a quarterly basis, some of the communities or land parcels evaluated during these years were evaluated in more than one quarterly period. Communities or land parcels evaluated for recoverability in more than one quarterly period, if any, are counted only once for each year shown. In some cases, we have recognized inventory impairment charges for particular communities or land parcels in multiple years. Inventory impairment charges are included in construction and land costs in our consolidated statements of operations. When an indicator of potential impairment is identified for a community or land parcel, we test the asset for recoverability by comparing the carrying value of the asset to the undiscounted future net cash flows expected to be generated by the asset. The undiscounted future net cash flows are impacted by then-current conditions and trends in the market in which the asset is located as well as factors known to us at the time the cash flows are calculated. With the undiscounted future net cash flows, we also consider recent trends in our orders, backlog, cancellation rates and volume of homes delivered, as well as our expectations related to the following: product offerings; market supply and demand, including estimated average selling prices and related price appreciation; and land development, home construction and overhead costs to be incurred and related cost inflation. With respect to the years ended November 30, 2015 and 2014 , these expectations reflected our experience that, notwithstanding fluctuations in our company-wide net orders, backlog levels, homes delivered and housing gross profit margin, on a year-over-year basis, conditions in the markets where assessed assets were located have been generally stable or improved, with no significant deterioration identified, or projected, as to revenue and cost drivers that would prevent or otherwise impact recoverability. Based on this experience, and taking into account the generally healthy conditions in many of our served markets for new home sales, our inventory assessments as of November 30, 2015 considered an expected steady overall sales pace and average selling price performance for 2016 relative to the pace and performance in recent quarters. Given the inherent challenges and uncertainties in forecasting future results, our inventory assessments at the time they are made take into consideration whether a community or land parcel is active, meaning whether it is open for sales and/or undergoing development, or whether it is being held for future development. Due to the short-term nature of active communities and land parcels as compared to land held for future development, our inventory assessments generally assume the continuation of then-current market conditions, subject to identifying information suggesting significant sustained changes in such conditions. These assessments, at the time made, generally anticipate net orders, average selling prices, volume of homes delivered and costs for land development and home construction to continue at or near then-current levels through the particular asset’s estimated remaining life. Inventory assessments for our land held for future development consider then-current market conditions as well as subjective forecasts regarding the timing and costs of land development and home construction and related cost inflation; the product(s) to be offered; and the net orders, volume of homes delivered, and selling prices and related price appreciation of the offered product(s) when an associated community is anticipated to open for sales. We evaluate various factors to develop these forecasts, including the availability of and demand for homes and finished lots within the relevant marketplace; historical, current and expected future sales trends for the marketplace; and third-party data, if available. These various estimates, trends, expectations and assumptions used in each of our inventory assessments are specific to each community or land parcel based on what we believe are reasonable forecasts for performance and may vary among communities or land parcels and may vary over time. We record an inventory impairment charge when the carrying value of a real estate asset is greater than the undiscounted future net cash flows the asset is expected to generate. These real estate assets are written down to fair value, which is primarily based on the estimated future net cash flows discounted for inherent risk associated with each such asset. Inputs used in our calculation of estimated discounted future net cash flows are specific to each affected real estate asset and are based on our expectations for each such asset as of the applicable measurement date, including, among others, expectations related to average selling prices and volume of homes delivered. The discount rates we used were impacted by the following at the time the calculation was made: the risk-free rate of return; expected risk premium based on estimated land development, home construction and delivery timelines; market risk from potential future price erosion; cost uncertainty due to land development or home construction cost increases; and other risks specific to the asset or conditions in the market in which the asset is located. Inventories associated with planned future land sales are stated at the lower of cost or fair value less costs to sell. The estimated fair value of such assets is generally based on an executed contract, broker quotes or similar information. The following table summarizes ranges for significant quantitative unobservable inputs we utilized in our fair value measurements with respect to impaired communities, other than land held for sale, written down to fair value during the years presented: Years Ended November 30, Unobservable Input (a) 2015 2014 2013 Average selling price $178,100 - $509,400 $216,100 - $316,800 $339,700 Deliveries per month 2 - 4 1 - 4 1 Discount rate 17% - 20% 17% - 19% 17% (a) The ranges of inputs used in each period primarily reflect differences between the housing markets where each of the impacted communities or land parcels are located, rather than fluctuations in prevailing market conditions. Based on the results of our evaluations, we recognized inventory impairment charges of $8.0 million in 2015 related to four communities with a post-impairment fair value of $12.0 million . We decided to change our operational and marketing strategy for these communities in order to monetize our investment more quickly primarily through lowering the average selling price of these homes or by accelerating the overall timing and pace for selling, building and delivering homes on land that had been held for future development. If we change our strategy on any given asset, it is possible that we may have additional impairments in the future. In 2014, we recognized inventory impairment charges of $37.6 million associated with eight communities or land parcels with a post-impairment fair value of $30.6 million . Of these charges, $26.6 million related to two properties, located in inland southern California and Atlanta, Georgia, where we decided to change our strategy and monetize our investment through land sales rather than build and sell homes on the parcels as previously intended. The remaining $11.0 million related to six communities primarily located in inland California and Arizona, reflecting decisions we made to monetize our investment in these land positions sooner by accelerating the overall timing and pace for selling, building and delivering homes on land that had been held for future development, and/or softening conditions in the relevant submarkets. In 2013, we recognized an inventory impairment charge of $.4 million associated with one community, with a post-impairment fair value of $1.1 million . As of November 30, 2015 , the aggregate carrying value of our inventory that had been impacted by inventory impairment charges was $254.2 million , representing 28 communities and various other land parcels. As of November 30, 2014 , the aggregate carrying value of our inventory that had been impacted by inventory impairment charges was $266.6 million , representing 33 communities and various other land parcels. Our inventory controlled under land option contracts and other similar contracts is assessed to determine whether it continues to meet our internal investment and marketing standards. Assessments are made separately for each optioned land parcel on a quarterly basis and are affected by the following factors relative to the market in which the asset is located, among others: current and/or anticipated net orders, average selling prices and volume of homes delivered; estimated land development and home construction costs; and projected profitability on expected future housing or land sales. When a decision is made not to exercise certain land option contracts and other similar contracts due to market conditions and/or changes in our marketing strategy, we write off the related inventory costs, including non-refundable deposits and unrecoverable pre-acquisition costs. Based on the results of our assessments, we recognized land option contract abandonment charges of $1.6 million corresponding to 1,166 lots in 2015 , $1.8 million corresponding to 1,306 lots in 2014 , and $3.2 million corresponding to 295 lots in 2013 . We sometimes abandon land option contracts or other similar contracts when we have incurred costs of less than $100,000 ; such costs and the corresponding lots, which totaled 78 lots in 2015 , 7,292 lots in 2014 and 9,406 lots in 2013 , are not included in the amounts above. Land option contract abandonment charges are included in construction and land costs in our consolidated statements of operations. The estimated remaining life of each community or land parcel in our inventory depends on various factors, such as the total number of lots remaining; the expected timeline to acquire and entitle land and develop lots to build homes; the anticipated future net order and cancellation rates; and the expected timeline to build and deliver homes sold. While it is difficult to determine a precise timeframe for any particular inventory asset, based on current market conditions and expected delivery timelines, we estimate our inventory assets’ remaining operating lives to range generally from one year to in excess of 10 years, and expect to realize, on an overall basis, the majority of our current inventory balance within five years. Due to the judgment and assumptions applied in our inventory impairment and land option contract abandonment assessment processes, and in our estimations of the remaining operating lives of our inventory assets and the realization of our inventory balances, particularly as to land held for future development, it is possible that actual results could differ substantially from those estimated.

Variable Interest Entities

Variable Interest Entities	12 Months Ended
	Nov. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities We participate in joint ventures from time to time that conduct land acquisition, land development and/or other homebuilding activities in various markets where our homebuilding operations are located. Our investments in these joint ventures may create a variable interest in a VIE, depending on the contractual terms of the arrangement. We analyze our joint ventures to determine whether they are VIEs and, if so, whether we are the primary beneficiary. None of our joint ventures at November 30, 2015 and 2014 were determined to be VIEs. All of our joint ventures were unconsolidated and accounted for under the equity method because we did not have a controlling financial interest. In the ordinary course of our business, we enter into land option contracts and other similar contracts to acquire rights to land for the construction of homes. The use of these contracts generally allows us to reduce the market risks associated with direct land ownership and development, and to reduce our capital and financial commitments, including interest and other carrying costs. Under these contracts, we typically pay a specified option or earnest money deposit in consideration for the right to purchase land in the future, usually at a predetermined price. We analyze each of our land option contracts and other similar contracts to determine whether the land seller is a VIE and, if so, whether we are the primary beneficiary. Although we do not have legal title to the underlying land, we are required to consolidate a VIE if we are the primary beneficiary. In determining whether we are the primary beneficiary, we consider, among other things, whether we have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance. Such activities would include, among other things, determining or limiting the scope or purpose of the VIE, selling or transferring property owned or controlled by the VIE, or arranging financing for the VIE. As a result of our analyses, we determined that as of November 30, 2015 and 2014 we were not the primary beneficiary of any VIEs from which we have acquired rights to land under land option contracts and other similar contracts. We perform ongoing reassessments of whether we are the primary beneficiary of a VIE. The following table presents a summary of our interests in land option contracts and other similar contracts (in thousands): November 30, 2015 November 30, 2014 Cash Deposits Aggregate Purchase Price Cash Deposits Aggregate Purchase Price Unconsolidated VIEs $ 32,436 $ 611,567 $ 10,633 $ 520,628 Other land option contracts and other similar contracts 22,101 576,140 22,426 437,842 Total $ 54,537 $ 1,187,707 $ 33,059 $ 958,470 In addition to the cash deposits presented in the table above, our exposure to loss related to our land option contracts and other similar contracts with third parties and unconsolidated entities consisted of pre-acquisition costs of $65.6 million at November 30, 2015 and $48.0 million at November 30, 2014. These pre-acquisition costs and cash deposits were included in inventories in our consolidated balance sheets. We also had outstanding letters of credit of $.1 million at November 30, 2014 in lieu of cash deposits under certain land option contracts and other similar contracts. There were no such outstanding letters of credit at November 30, 2015. We also evaluate our land option contracts and other similar contracts for financing arrangements, and, as a result of our evaluations, increased inventories, with a corresponding increase to accrued expenses and other liabilities, in our consolidated balance sheets by $110.0 million at November 30, 2015 and $3.1 million at November 30, 2014 .

Investments in Unconsolidated J

Investments in Unconsolidated Joint Ventures	12 Months Ended
	Nov. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Joint Ventures	Investments in Unconsolidated Joint Ventures We have investments in unconsolidated joint ventures that conduct land acquisition, land development and/or other homebuilding activities in various markets where our homebuilding operations are located. Our partners in these unconsolidated joint ventures are unrelated homebuilders, and/or land developers and other real estate entities, or commercial enterprises. These investments are designed primarily to reduce market and development risks and to increase the number of lots we own or control. In some instances, participating in unconsolidated joint ventures has enabled us to acquire and develop land that we might not otherwise have had access to due to a project’s size, financing needs, duration of development or other circumstances. While we consider our participation in unconsolidated joint ventures as potentially beneficial to our homebuilding activities, we do not view such participation as essential. We typically have obtained rights to acquire portions of the land held by the unconsolidated joint ventures in which we currently participate. When an unconsolidated joint venture sells land to our homebuilding operations, we defer recognition of our share of such unconsolidated joint venture’s earnings (losses) until a home sale is closed and title passes to a homebuyer, at which time we account for those earnings (losses) as a reduction (increase) to the cost of purchasing the land from the unconsolidated joint venture. We defer recognition of our share of such unconsolidated joint venture losses only to the extent profits are to be generated from the sale of the home to a homebuyer. We and our unconsolidated joint venture partners make initial and/or ongoing capital contributions to these unconsolidated joint ventures, typically on a pro rata basis, according to our respective equity interests. The obligations to make capital contributions are governed by each such unconsolidated joint venture’s respective operating agreement and related governing documents. We share in the earnings (losses) of these unconsolidated joint ventures generally in accordance with our respective equity interests. In some instances, we recognize earnings (losses) related to our investment in an unconsolidated joint venture that differ from our equity interest in the unconsolidated joint venture. This typically arises from our deferral of the unconsolidated joint venture’s earnings (losses) from land sales to us, or other items. The following table presents combined condensed information from the statements of operations of our unconsolidated joint ventures (in thousands): Years Ended November 30, 2015 2014 2013 Revenues $ 15,322 $ 12,538 $ 17,446 Construction and land costs (23,123 ) (10,790 ) (10,709 ) Other expenses, net (3,360 ) (1,476 ) (4,042 ) Income (loss) $ (11,161 ) $ 272 $ 2,695 For the years ended November 30, 2015 , 2014 and 2013, combined revenues and construction and land costs were generated primarily from land sales. The following table presents combined condensed balance sheet information for our unconsolidated joint ventures (in thousands): November 30, 2015 2014 Assets Cash $ 23,309 $ 23,699 Receivables 7,546 5,106 Inventories 175,196 153,427 Other assets 910 — Total assets $ 206,961 $ 182,232 Liabilities and equity Accounts payable and other liabilities $ 17,108 $ 10,824 Notes payable (a) 39,064 — Equity 150,789 171,408 Total liabilities and equity $ 206,961 $ 182,232 (a) In August 2015, one of our unconsolidated joint ventures entered into a construction loan agreement with a third-party lender to finance its land development activities that is secured by the underlying property and related project assets. The unconsolidated joint venture’s outstanding secured debt is non-recourse to us and is scheduled to mature in August 2018. None of our other unconsolidated joint ventures had outstanding debt at November 30, 2015 . None of our unconsolidated joint ventures had outstanding debt at November 30, 2014. The following table presents additional information relating to our investments in unconsolidated joint ventures (dollars in thousands): November 30, 2015 2014 Number of investments in unconsolidated joint ventures 7 6 Investments in unconsolidated joint ventures $ 71,558 $ 79,441 Number of unconsolidated joint venture lots controlled under land option contracts and other similar contracts 677 618 In 2014, we sold our interest in an unconsolidated joint venture in Maryland for $10.1 million , which resulted in a gain of $3.2 million that was included in equity in income of unconsolidated joint ventures in our consolidated statement of operations for the year ended November 30, 2014. We and our partner in the unconsolidated joint venture that entered into the construction loan agreement described above provided certain guarantees and indemnities to the lender, including a guaranty to complete the construction of improvements for the project; a guaranty against losses the lender suffers due to certain bad acts or failures to act by the unconsolidated joint venture or its partners; a guaranty of interest payments on the outstanding balance of the secured debt under the construction loan agreement; and an indemnity of the lender from environmental issues. In each case, our actual responsibility under the foregoing guaranty and indemnity obligations is limited to our pro rata interest in the unconsolidated joint venture. We do not have a guaranty or any other obligation to repay or to support the value of the collateral underlying the unconsolidated joint venture’s outstanding secured debt under the construction loan agreement. However, various financial and non-financial covenants apply with respect to the outstanding secured debt under the construction loan agreement and the related guaranty and indemnity obligations, and a failure to comply with such covenants could result in a default and cause the lender to seek to enforce such guaranty and indemnity obligations, if and as may be applicable. As of November 30, 2015 , we were in compliance with the applicable terms of our relevant covenants with respect to the construction loan agreement. We do not believe that our existing exposure under our guaranty and indemnity obligations related to the unconsolidated joint venture’s outstanding secured debt under the construction loan agreement is material to our consolidated financial statements.

Other Assets

Other Assets	12 Months Ended
	Nov. 30, 2015
Other Assets [Abstract]
Other Assets	Other Assets Other assets consisted of the following (in thousands): November 30, 2015 2014 Cash surrender value of insurance contracts $ 67,786 $ 70,571 Debt issuance costs 25,408 27,082 Property and equipment, net 13,100 11,831 Prepaid expenses 6,480 5,431 Total $ 112,774 $ 114,915

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	12 Months Ended
	Nov. 30, 2015
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following (in thousands): November 30, 2015 2014 Inventory-related obligations (a) $ 148,887 $ 52,009 Employee compensation and related benefits 114,456 113,875 Self-insurance and other litigation liabilities 96,496 89,606 Accrued interest payable 62,645 63,275 Warranty liability 49,085 45,196 Customer deposits 14,563 15,197 Real estate and business taxes 14,255 13,684 Other 13,027 17,040 Total $ 513,414 $ 409,882 (a) Represents liabilities for inventory not owned associated with financing arrangements discussed in Note 8. Variable Interest Entities, as well as liabilities for fixed or determinable amounts associated with TIFE assessments. As homes are delivered, the obligation to pay the remaining TIFE assessments associated with each underlying lot is transferred to the homebuyer. As such, these assessment obligations will be paid by us only to the extent we do not deliver homes on applicable lots before the related TIFE obligations mature.

Income Taxes

Income Taxes	12 Months Ended
	Nov. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income Tax Benefit (Expense). The components of the income tax benefit (expense) in our consolidated statements of operations are as follows (in thousands): Federal State Total 2015 Current $ (1,400 ) $ (2,000 ) $ (3,400 ) Deferred (35,900 ) (3,100 ) (39,000 ) Income tax expense $ (37,300 ) $ (5,100 ) $ (42,400 ) 2014 Current $ 100 $ (1,900 ) $ (1,800 ) Deferred 646,000 179,200 825,200 Income tax benefit $ 646,100 $ 177,300 $ 823,400 2013 Current $ — $ 1,600 $ 1,600 Deferred — — — Income tax benefit $ — $ 1,600 $ 1,600 Our income tax expense for 2015 reflected the favorable net impact of $5.6 million of federal energy tax credits we earned from building energy-efficient homes, resulting in an effective tax rate of 33.4% . The income tax benefit in 2014 was primarily due to the reversal of a substantial portion of our deferred tax asset valuation allowance at November 30, 2014 . In 2013, the income tax benefit reflected the resolution of a state tax audit, which resulted in a refund receivable of $1.4 million , as well as the recognition of unrecognized tax benefits of $1.0 million , partly offset by the state tax liability of $.8 million . Due to the effects of our deferred tax asset valuation allowances and changes in our unrecognized tax benefits, our effective tax rates in 2014 and 2013 were not meaningful items as our income tax amounts were not directly correlated to our pretax income for those periods. The tax credit impact in 2015 included energy tax credits we earned from building energy-efficient homes in 2011, 2012 and 2013, as well as from building energy-efficient homes in 2014 pursuant to the Tax Increase Prevention Act, which was enacted into law on December 19, 2014. Among other things, the law retroactively extended the availability of a business tax credit for building new energy-efficient homes through December 31, 2014. Prior to this legislation, the tax credit expired on December 31, 2013. Deferred Tax Assets, Net. Deferred income taxes result from temporary differences in the financial and tax basis of assets and liabilities. Significant components of our deferred tax liabilities and assets are as follows (in thousands): November 30, 2015 2014 Deferred tax liabilities: Capitalized expenses $ 110,408 $ 103,196 State taxes 68,866 72,258 Other 196 310 Total 179,470 175,764 Deferred tax assets: NOLs from 2006 through 2015 423,274 459,393 Tax credits 186,169 176,234 Inventory impairments and land option contract abandonments 179,828 229,264 Employee benefits 93,395 82,776 Warranty, legal and other accruals 49,655 42,621 Capitalized expenses 34,887 24,155 Partnerships and joint ventures 18,557 15,672 Depreciation and amortization 9,146 9,022 Other 4,537 3,009 Total 999,448 1,042,146 Valuation allowance (37,782 ) (41,150 ) Total 961,666 1,000,996 Deferred tax assets, net $ 782,196 $ 825,232 Reconciliation of Expected Income Tax Benefit (Expense). The income tax benefit (expense) computed at the statutory U.S. federal income tax rate and the income tax benefit (expense) provided in our consolidated statements of operations differ as follows (dollars in thousands): Years Ended November 30, 2015 2014 2013 $ % $ % $ % Income tax expense computed at statutory rate $ (44,462 ) (35.0 )% $ (33,232 ) (35.0 )% $ (13,427 ) (35.0 )% Tax credits 8,220 6.5 2,884 3.0 2,675 7.0 Valuation allowance for deferred tax assets 3,356 2.6 825,232 869.1 20,673 53.9 Depreciation and amortization 3,183 2.5 15,765 16.6 4,523 11.8 Basis in joint ventures 1,617 1.3 10,441 11.0 (9,598 ) (25.0 ) Inventory impairments (1,701 ) (1.3 ) — — 2,827 7.4 Reserve and deferred income (2,259 ) (1.8 ) — — (1,808 ) (4.7 ) NOL reconciliation (3,379 ) (2.7 ) 12,973 13.7 (3,806 ) (9.9 ) State taxes, net of federal income tax benefit (5,155 ) (4.1 ) (13,907 ) (14.7 ) (1,947 ) (5.1 ) Capitalized expenses — — 1,249 1.3 — — Recognition of federal and state tax benefits — — 59 .1 1,600 4.2 Other, net (1,820 ) (1.4 ) 1,936 2.1 (112 ) (.3 ) Income tax benefit (expense) $ (42,400 ) (33.4 )% $ 823,400 867.2 % $ 1,600 4.3 % Deferred Tax Asset Valuation Allowance. We evaluate our deferred tax assets quarterly to determine if adjustments to our valuation allowance are required based on the consideration of all available positive and negative evidence using a “more likely than not” standard with respect to whether deferred tax assets will be realized. Our evaluation considers, among other factors, our historical operating results, our expectation of future profitability, the duration of the applicable statutory carryforward periods, and conditions in the housing market and the broader economy. The ultimate realization of our deferred tax assets depends primarily on our ability to generate future taxable income during the periods in which the related temporary differences in the financial basis and the tax basis of the assets become deductible. The value of our deferred tax assets depends on applicable income tax rates. At November 30, 2015 and 2014, we had deferred tax assets of $820.0 million and $866.4 million , respectively, that were partially offset by valuation allowances of $37.8 million and $41.2 million , respectively. The valuation allowances at November 30, 2015 and 2014 were primarily related to foreign tax credits and certain state NOLs that had not met the “more likely than not” realization standard as of those dates. As of November 30, 2015, we needed to generate approximately $2 billion of pretax income in future periods before 2035 to realize our deferred tax assets. Based on our evaluation of our deferred tax assets as of November 30, 2015, we determined that most of our deferred tax assets would be realized. We reduced our deferred tax assets and valuation allowance by $3.4 million in 2015 to account primarily for the expiration of federal tax credits and state NOLs that were not utilized. At November 30, 2014, we determined through our evaluation process that it was more likely than not that most of our deferred tax assets would be realized. As a result, we recognized an $824.2 million income tax benefit in the fourth quarter of 2014, which included the reversal of all but $41.2 million of our deferred tax asset valuation allowance. The principal positive evidence that led us to determine at November 30, 2014 that most of our deferred tax asset valuation allowance could be reversed included our emergence from a three-year cumulative pretax loss position in 2014 as well as the underlying momentum in our business and generally improved housing market and broader economic conditions that had enabled us to achieve and maintain a three-year cumulative pretax income position as of and after the 2014 third quarter; the significant pretax income we generated during 2014 and 2013, including six consecutive quarters of pretax income as of November 30, 2014; improvement in key financial metrics in 2014 when compared to the previous year (including in our revenues; housing gross profits; selling, general and administrative expenses as a percentage of housing revenues; net orders and backlog); our expectation of future profitability; our strong financial position; significant evidence that conditions in the U.S. housing industry were more favorable than in recent years and our belief that such conditions would continue to be favorable over the long term; and our belief that we would be able to make operational adjustments to address any potential changes in market conditions to maintain long-term profitability and realize our deferred tax assets. In 2013, we reduced the valuation allowance by $20.7 million to account for adjustments to our deferred tax assets associated with the pretax income generated during the year and the loss of state NOLs due to the expiration of the applicable statute of limitations. We will continue to evaluate both the positive and negative evidence on a quarterly basis in determining the need for a valuation allowance with respect to our deferred tax assets. The accounting for deferred tax assets is based upon estimates of future results. Changes in positive and negative evidence, including differences between estimated and actual results, could result in changes in the valuation of our deferred tax assets that could have a material impact on our consolidated financial statements. Changes in existing tax laws could also affect actual tax results and the realization of deferred tax assets over time. The majority of the tax benefits associated with our NOLs can be carried forward for 20 years (as we did not have taxable income in the allowable two-year carryback period) and applied to offset future taxable income. The federal NOL carryforwards of $267.1 million , if not utilized, will begin to expire in 2030 through 2033 . Depending on their applicable statutory period, the state NOL carryforwards of $156.1 million , if not utilized, will begin to expire between 2016 and 2035 . During 2015, $1.7 million of state NOL carryforwards expired. In addition, $95.5 million of our tax credits, if not utilized, will begin to expire in 2016 through 2034 . Included in the $95.5 million are $3.2 million of investment tax credits, of which $2.4 million and $.8 million will expire in 2026 and 2027 , respectively, as well as foreign tax credits of $14.0 million that will expire in 2016 . Unrecognized Tax Benefits. Gross unrecognized tax benefits are the differences between a tax position taken or expected to be taken in a tax return, and the benefit recognized for accounting purposes. A reconciliation of the beginning and ending balances of gross unrecognized tax benefits, excluding interest and penalties, is as follows (in thousands): Years Ended November 30, 2015 2014 2013 Balance at beginning of year $ 206 $ 206 $ 1,671 Reductions due to lapse of statute of limitations (150 ) — (1,465 ) Balance at end of year $ 56 $ 206 $ 206 W e recognize accrued interest and penalties related to unrecognized tax benefits in our consolidated financial statements as a component of the provision for or benefit from income taxes. As of November 30, 2015 , 2014 and 2013 , there were $.1 million , $.1 million and $.3 million , respectively, of gross unrecognized tax benefits (including interest and penalties) that, if recognized, would affect our annual effective tax rate. Our total accrued interest and penalties related to unrecognized income tax benefits was zero at November 30, 2015 and $.1 million at November 30, 2014 . Our liabilities for unrecognized tax benefits at November 30, 2015 and 2014 are included in accrued expenses and other liabilities in our consolidated balance sheets. Included in the balance of gross unrecognized tax benefits at both November 30, 2015 and 2014 were tax positions of zero and $.2 million , respectively, for which the ultimate deductibility is highly certain but the timing of such deductibility is uncertain. Because of the impact of deferred tax accounting, other than interest and penalties, the disallowance of the shorter deductibility period would not affect our annual effective tax rate, but would accelerate the payment of cash to a tax authority to an earlier period. As of November 30, 2015 , our gross unrecognized tax benefits (including interest and penalties) totaled $.1 million . We anticipate that these gross unrecognized tax benefits will decrease by an amount ranging from zero to $.1 million during the 12 months from this reporting date due to the expiration of the statute of limitations. The fiscal years ending 2012 and later remain open to federal examinations, while 2011 and later remain open to state examinations. Notwithstanding the reversal of a substantial portion of our deferred tax asset valuation allowance at November 30, 2014, the benefits of our deferred tax assets, including our NOLs, built-in losses and tax credits would be reduced or potentially eliminated if we experienced an “ownership change” under Section 382. Based on our analysis performed as of November 30, 2015 , we do not believe that we have experienced an ownership change as defined by Section 382, and, therefore, the NOLs, built-in losses and tax credits we have generated should not be subject to a Section 382 limitation as of this reporting date.

Notes Payable

Notes Payable	12 Months Ended
	Nov. 30, 2015
Debt Disclosure [Abstract]
Notes Payable	Notes Payable Notes payable consisted of the following (in thousands): November 30, 2015 2014 Mortgages and land contracts due to land sellers and other loans (at interest rates of 4% to 7% at November 30, 2015 and 5% to 7% at November 30, 2014) $ 35,664 $ 38,250 6 1/4% Senior notes due June 15, 2015 — 199,891 9.10% Senior notes due September 15, 2017 263,475 262,729 7 1/4% Senior notes due June 15, 2018 299,554 299,402 4.75% Senior notes due May 15, 2019 400,000 400,000 8.00% Senior notes due March 15, 2020 346,843 346,253 7.00% Senior notes due December 15, 2021 450,000 450,000 7.50% Senior notes due September 15, 2022 350,000 350,000 7.625% Senior notes due May 15, 2023 250,000 — 1.375% Convertible senior notes due February 1, 2019 230,000 230,000 Total $ 2,625,536 $ 2,576,525 Unsecured Revolving Credit Facility. On August 7, 2015, we entered into an amendment to the Credit Facility that increased the commitment from $200.0 million to $275.0 million and extended its maturity from March 12, 2016 to August 7, 2019 . The Credit Facility contains an uncommitted accordion feature under which its aggregate principal amount of available loans can be increased to a maximum of $450.0 million under certain conditions, including obtaining additional bank commitments, as well as a sublimit of $137.5 million for the issuance of letters of credit, which may be utilized in combination with, or to replace, the LOC Facilities. Interest on amounts borrowed under the Credit Facility is payable quarterly in arrears at a rate based on either a Eurodollar or a base rate, plus a spread that depends on our Leverage Ratio, as defined under the Credit Facility. The Credit Facility also requires the payment of a commitment fee ranging from .30% to .50% of the unused commitment, based on our Leverage Ratio. The terms of the Credit Facility require us, among other things, to maintain compliance with various covenants, including financial covenants relating to our consolidated tangible net worth, Leverage Ratio, and either an Interest Coverage Ratio or a minimum level of liquidity, each as defined therein. The amount of the Credit Facility available for cash borrowings or the issuance of letters of credit depends on the total cash borrowings and letters of credit outstanding under the Credit Facility and the maximum available amount under the terms of the Credit Facility. As of November 30, 2015 , we had no cash borrowings and $24.3 million of letters of credit outstanding under the Credit Facility. Therefore, as of November 30, 2015 , we had $250.7 million available for cash borrowings under the Credit Facility, with up to $113.2 million of that amount available for the issuance of letters of credit. LOC Facilities. We maintain the LOC Facilities with various financial institutions to obtain letters of credit in the ordinary course of operating our business. As of November 30, 2015 and 2014, we had $9.1 million and $26.7 million , respectively, of letters of credit outstanding under the LOC Facilities. The LOC Facilities require us to deposit and maintain cash with the issuing financial institutions as collateral for our letters of credit outstanding. Mortgages and Land Contracts Due to Land Sellers and Other Loans. As of November 30, 2015 , inventories having a carrying value of $136.1 million were pledged to collateralize mortgages and land contracts due to land sellers and other loans. Shelf Registration. Issuances of debt and equity securities under our 2014 Shelf Registration require the filing of a prospectus supplement identifying the amount and terms of the securities to be issued. Our ability to issue equity and/or debt is subject to market conditions and other factors impacting our borrowing capacity. Senior Notes. All of our senior notes outstanding at November 30, 2015 and 2014 represent senior unsecured obligations and rank equally in right of payment with all of our existing and future indebtedness. All of our outstanding senior notes were issued in underwritten public offerings. The key terms of each of our senior notes outstanding as of November 30, 2015 were as follows (dollars in thousands): Redeemable Prior to Maturity Effective Interest Rate Notes Payable Principal Issuance Date Maturity Date 9.10% Senior notes $ 265,000 July 30, 2009 September 15, 2017 Yes (a) 9.5 % 7 1/4% Senior notes 300,000 April 3, 2006 June 15, 2018 Yes (a) 7.3 4.75% Senior notes 400,000 March 25, 2014 May 15, 2019 Yes (b) 4.8 8.00% Senior notes 350,000 February 7, 2012 March 15, 2020 Yes (a) 8.3 7.00% Senior notes 450,000 October 29, 2013 December 15, 2021 Yes (b) 7.0 7.50% Senior notes 350,000 July 31, 2012 September 15, 2022 Yes (a) 7.5 7.625% Senior notes 250,000 February 17, 2015 May 15, 2023 Yes (b) 7.6 1.375% Convertible senior notes 230,000 January 29, 2013 February 1, 2019 Yes (c) 1.4 (a) At our option, these notes may be redeemed, in whole at any time or from time to time in part, at a redemption price equal to the greater of (i) 100% of the principal amount of the notes being redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed (exclusive of interest accrued to the applicable redemption date), discounted to the redemption date at a defined rate, plus, in each case, accrued and unpaid interest on the notes being redeemed to the applicable redemption date. (b) At our option, these notes may be redeemed, in whole at any time or from time to time in part, at a redemption price equal to the greater of (i) 100% of the principal amount of the notes being redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed (exclusive of interest accrued to the applicable redemption date), discounted to the redemption date at a defined rate, plus, in each case, accrued and unpaid interest on the notes being redeemed to, but excluding, the applicable redemption date, except that three months prior to the stated maturity dates for the 4.75% Senior Notes due 2019 and the 7.00% Senior Notes due 2021 and until their respective maturity, and six months prior to the stated maturity date for the 7.625% Senior Notes due 2023 and until their maturity, the redemption price will be equal to 100% of the principal amount of the notes being redeemed, plus, in each case, accrued and unpaid interest on the notes being redeemed to, but excluding, the applicable redemption date. (c) We may not redeem the notes prior to November 6, 2018. On or after November 6, 2018, and prior to the stated maturity date, we may, at our option, redeem all or part of the notes at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest to, but excluding the redemption date. If a change in control occurs as defined in the instruments governing our senior notes, we would be required to offer to purchase all of our outstanding senior notes (with the exception of the amount outstanding related to our 7 1/4% Senior Notes due 2018) at 101% of their principal amount, together with all accrued and unpaid interest, if any. If a fundamental change, as defined in the instruments governing the 1.375% Convertible Senior Notes due 2019, occurs prior to the stated maturity date, the holders may require us to purchase for cash all or any portion of their 1.375% Convertible Senior Notes due 2019 at 100% of the principal amount of the notes, plus accrued and unpaid interest to, but not including, the fundamental change purchase date. In 2015, we used a portion of the total net proceeds of $245.4 million from the issuance of the 7.625% Senior Notes due 2023 to retire the remaining $199.9 million in aggregate principal amount of our 6 1/4% Senior Notes due 2015 at their maturity on June 15, 2015. The remainder of the net proceeds was used for general corporate purposes, including working capital, land acquisition and land development. In 2014, we used the $394.6 million in total net proceeds from the issuance of the 4.75% Senior Notes due 2019 together with the total net proceeds from a concurrent underwritten public offering of our common stock, which is discussed below in Note 17. Stockholders’ Equity, for general corporate purposes, including without limitation land acquisition and land development. In 2013, we used $225.4 million of the total net proceeds from the issuance of the 7.00% Senior Notes due 2021 to purchase $215.1 million in aggregate principal amount of certain senior notes that were scheduled to mature in 2014 and 2015. The remainder of the net proceeds was used for general corporate purposes, including without limitation land acquisition and land development. We incurred a $10.4 million loss on the early extinguishment of debt in 2013 due to a premium paid under the applicable tender offers, premiums paid to redeem the applicable remaining senior notes, and the unamortized original issue discount associated with these senior notes. In 2013, we also used the $222.7 million in total net proceeds from the issuance of the 1.375% Convertible Senior Notes due 2019 together with the total net proceeds from a concurrent underwritten public offering of our common stock, which is described in Note 17. Stockholders’ Equity, for general corporate purposes, including for investments in land and land/community development. At any time prior to the close of business on the business day immediately preceding the maturity date, holders may convert all or any portion of the 1.375% Convertible Senior Notes due 2019. These notes are initially convertible into shares of our common stock at a conversion rate of 36.5297 shares for each $1,000 principal amount of the notes, which represents an initial conversion price of approximately $27.37 per share. This initial conversion rate equates to 8,401,831 shares of our common stock and is subject to adjustment upon the occurrence of certain events, including: subdivisions and combinations of our common stock; the issuance of stock dividends, or certain rights, options or warrants, capital stock, indebtedness, assets or cash dividends to all or substantially all holders of our common stock; and certain issuer tender or exchange offers. The conversion rate will not, however, be adjusted for other events, such as a third party tender or exchange offer or an issuance of common stock for cash or an acquisition, that may adversely affect the trading price of the notes or our common stock. On conversion, holders of the 1.375% Convertible Senior Notes due 2019 will not be entitled to receive cash in lieu of shares of our common stock, except for cash in lieu of fractional shares. The indenture governing the senior notes does not contain any financial covenants. Subject to specified exceptions, the indenture contains certain restrictive covenants that, among other things, limit our ability to incur secured indebtedness, or engage in sale-leaseback transactions involving property or assets above a certain specified value. In addition, the senior notes (with the exception of the 7 1/4% Senior Notes due 2018) contain certain limitations related to mergers, consolidations, and sales of assets. As of November 30, 2015, we were in compliance with the applicable terms of all our covenants and other requirements under the Credit Facility, the senior notes, the indenture, and the mortgages and land contracts due to land sellers and other loans. Our ability to access the Credit Facility for cash borrowings and letters of credit and our ability to secure future debt financing depend, in part, on our ability to remain in such compliance. There are no agreements that restrict our payment of dividends other than to maintain compliance with the financial covenant requirements under the Credit Facility, which would restrict our payment of dividends if a default under the Credit Facility exists at the time of any such payment, or if any such payment would result in such a default. Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans are due during each year ended November 30 as follows: 2016 — $35.7 million ; 2017— $265.0 million ; 2018 — $300.0 million ; 2019 — $630.0 million ; 2020 — $350.0 million ; and thereafter — $1.05 billion .

Fair Value Disclosures

Fair Value Disclosures	12 Months Ended
	Nov. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures Fair value measurements of assets and liabilities are categorized based on the following hierarchy: Level 1 Fair value determined based on quoted prices in active markets for identical assets or liabilities. Level 2 Fair value determined using significant observable inputs, such as quoted prices for similar assets or liabilities or quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, or inputs that are derived principally from or corroborated by observable market data, by correlation or other means. Level 3 Fair value determined using significant unobservable inputs, such as pricing models, discounted cash flows, or similar techniques. Fair value measurements are used for inventories on a nonrecurring basis when events and circumstances indicate that their carrying value is not recoverable. The following table presents the fair value hierarchy and our assets measured at fair value on a nonrecurring basis (in thousands): For the Years Ended November 30, Description Fair Value Hierarchy 2015 2014 Inventories (a) Level 2 $ — $ 6,421 Inventories (a) Level 3 11,988 24,174 (a) Amounts represent the aggregate fair value for real estate assets impacted by inventory impairment charges during the period, as of the date that the fair value measurements were made. The carrying value for these real estate assets may have subsequently increased or decreased from the fair value reflected due to activity that has occurred since the measurement date. Inventories with a carrying value of $20.0 million were written down to their fair value of $12.0 million during the year ended November 30, 2015 , resulting in inventory impairment charges of $8.0 million . Inventories with a carrying value of $68.2 million were written down to their fair value of $30.6 million during the year ended November 30, 2014 , resulting in inventory impairment charges of $37.6 million . The fair values for inventories that were determined using Level 2 inputs were based on an executed contract. The fair values for inventories that were determined using Level 3 inputs were primarily based on the estimated future net cash flows discounted for inherent risk associated with each underlying asset, as described in Note 7. Inventory Impairments and Land Option Contract Abandonments. The fair values for inventories determined using Level 3 inputs that involved a planned future land sale were estimated based on a broker quote. The following table presents the fair value hierarchy, carrying values and estimated fair values of our financial instruments, except those for which the carrying values approximate fair values (in thousands): November 30, 2015 2014 Fair Value Hierarchy Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Liabilities: Senior notes Level 2 $ 2,359,872 $ 2,429,850 $ 2,308,275 $ 2,468,852 Convertible senior notes Level 2 230,000 211,313 230,000 229,713 The fair values of our senior notes and convertible senior notes are generally estimated based on quoted market prices for these instruments. The carrying values reported for cash and cash equivalents, restricted cash, and mortgages and land contracts due to land sellers and other loans approximate fair values.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Nov. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments and contingencies include typical obligations of homebuilders for the completion of contracts and those incurred in the ordinary course of business. Warranty. We provide a limited warranty on all of our homes. The specific terms and conditions of our limited warranty program vary depending upon the markets in which we do business. We generally provide a structural warranty of 10 years , a warranty on electrical, heating, cooling, plumbing and certain other building systems each varying from two to five years based on geographic market and state law, and a warranty of one year for other components of the home. Our limited warranty program is ordinarily how we respond to and account for homeowners’ requests to local division offices seeking repairs, including claims where we could have liability under applicable state statutes or tort law for a defective condition in or damages to a home. We estimate the costs that may be incurred under each limited warranty and record a liability in the amount of such costs at the time the revenue associated with the sale of each home is recognized. Our primary assumption in estimating the amounts we accrue for warranty costs is that historical claims experience is a strong indicator of future claims experience. Factors that affect our warranty liability include the number of homes delivered, historical and anticipated rates of warranty claims, and cost per claim. We periodically assess the adequacy of our accrued warranty liability , which is included in accrued expenses and other liabilities in our consolidated balance sheets, and adjust the amount as necessary based on our assessment. Our assessment includes the review of our actual warranty costs incurred to identify trends and changes in our warranty claims experience, and considers our home construction quality and customer service initiatives and outside events. While we believe the warranty liability currently reflected in our consolidated balance sheets to be adequate, unanticipated changes or developments in the legal environment, local weather, land or environmental conditions, quality of materials or methods used in the construction of homes or customer service practices and our warranty claims experience could have a significant impact on our actual warranty costs in future periods and such amounts could differ significantly from our current estimates. The changes in our warranty liability are as follows (in thousands): Years Ended November 30, 2015 2014 2013 Balance at beginning of year $ 45,196 $ 48,704 $ 47,822 Warranties issued 23,018 18,479 14,261 Payments (26,367 ) (39,458 ) (45,338 ) Adjustments (a) 7,238 17,471 31,959 Balance at end of year $ 49,085 $ 45,196 $ 48,704 (a) As discussed below, adjustments in 2015 and 2014 were primarily comprised of the reclassification of estimated minimum probable recoveries to receivables. Adjustments in 2014 also included a reclassification of estimated minimum probable recoveries to establish a separate accrual for a water intrusion-related inquiry. Adjustments in 2013 were comprised of charges associated with water intrusion-related issues in central and southwest Florida. Central and Southwest Florida Claims . Since 2012, we have received warranty claims from homeowners in certain of our communities in central and southwest Florida primarily involving framing, stucco, roofing and/or sealant matters on homes we delivered between 2003 and 2009, with many concerning water intrusion-related issues. Based on the status of our ongoing investigation and repair efforts with respect to homes affected by these water intrusion-related issues, our overall warranty liability at November 30, 2015, 2014 and 2013 included $2.2 million , $9.4 million and $28.9 million , respectively, for estimated remaining repair costs associated with (a) 69 , 324 and 710 identified affected homes, respectively, and (b) similarly affected homes that we believed at each respective date may be identified in the future. The $2.2 million at November 30, 2015 encompasses what we believe to be the probable overall cost of the repair effort remaining with respect to affected homes before insurance and other recoveries. However, our actual costs to fully resolve repairs on affected homes could differ from the overall costs we have estimated depending on the identification of additional affected homes in future periods, if any, and the nature of the work that is undertaken to complete repairs on identified affected homes. In 2015, we resolved repairs on 356 identified affected homes and identified 101 additional affected homes. During 2014 , we resolved repairs on 536 identified affected homes and identified 150 additional affected homes, most of which were in one attached home community. During 2013, repairs were resolved on 754 identified affected homes. We consider repairs for identified affected homes to be resolved when all repairs are completed and all repair costs are fully paid. In 2015, 2014 and 2013, we paid $8.4 million , $26.6 million and $32.7 million , respectively, to repair identified affected homes. Since first identifying affected homes in 2012, we have identified a total of 1,715 affected homes requiring more than minor repairs and resolved repairs on 1,646 of those homes through November 30, 2015 . As of November 30, 2015 , we had paid $71.7 million of the probable total repair costs of $73.9 million that we have estimated for the overall repair effort. We believe it is probable that we will recover a portion of our repair costs associated with affected homes from various sources, including our insurers and independent subcontractors involved with the original construction of the homes and their insurers. In 2015 and 2014, we collected $7.0 million and $.9 million , respectively, of such recoveries. Based on a review of our estimated potential recoveries in 2015, we increased our estimate of minimum probable recoveries. As of November 30, 2015, our estimated minimum probable recoveries, net of amounts collected, totaled $20.6 million , of which $2.2 million was included as an offset to our overall warranty liability and the remainder was included in receivables. During 2014, we recorded adjustments to increase our warranty liability mainly to reflect additional affected homes identified at one attached home community and our updated estimate of repair costs on identified affected homes. We also recorded adjustments to increase our estimated minimum probable recoveries during the period based on our updated estimate of repair costs. Together, these items did not have an impact on our consolidated statement of operations for 2014. As of November 30, 2014, our estimated minimum probable recoveries, net of amounts collected, totaled $26.6 million , of which $9.4 million was included as an offset to our overall warranty liability and the remainder was included in receivables. As of November 30, 2013, our estimated minimum probable recoveries, all of which were included as an offset to our overall warranty liability, totaled $19.4 million . The estimated minimum probable recoveries pertaining to affected homes are included in receivables to the extent they exceed the estimated remaining repair costs in our overall warranty liability associated with such homes. During 2015 and 2014, we reclassified $7.2 million and $18.1 million , respectively, of estimated minimum probable recoveries that were in excess of the estimated remaining repair costs to a receivable. Our assessment of the water intrusion-related issues in central and southwest Florida, including the process of determining potentially responsible parties and our efforts to obtain recoveries, is ongoing, and as a result, our estimate of minimum probable recoveries may change as additional information is obtained. In 2013, based on our assessment of our overall warranty liability, we recorded adjustments to increase our warranty liability by $32.0 million with a corresponding charge to construction and land costs in our consolidated statement of operations. The adjustments reflected our then-current estimate of remaining repair costs associated with homes in central and southwest Florida that had been identified as having water intrusion-related issues and our estimate of repair costs associated with similarly affected homes in central and southwest Florida then-believed likely to be identified in the future, net of an increase in estimated minimum probable recoveries of such repair costs and other adjustments. Overall Warranty Liability Assessment . In assessing our overall warranty liability at a reporting date, we evaluate the costs for warranty-related items on a combined basis for all of our previously delivered homes that are under our limited warranty program, which would include homes in central and southwest Florida that have been or may in the future be identified as affected by water intrusion-related issues . Based on this evaluation, we believe our overall warranty liability as of November 30, 2015 is adequate. Depending on the number of additional homes in central and southwest Florida that are identified as affected by water intrusion-related issues, if any, and the actual costs we incur in future periods to repair such affected homes and/or homes affected by other issues, we may revise the amount of our estimated liability, which could result in an increase or decrease in our overall warranty liability. Based on our assessment of the water intrusion-related issues in central and southwest Florida, and the substantial wind down of these issues in 2015, we believe that our overall warranty liability as of November 30, 2015 is adequate to cover the estimated probable total repair costs with respect to affected homes. Florida Attorney General’s Office Inquiry. In 2013, we were notified by the Florida Attorney General’s Office that it was making a preliminary inquiry into the status of our communities in Florida affected by water intrusion-related issues. We established an accrual for the estimated minimum probable loss with respect to this inquiry during 2014 and increased the accrual during 2015. We anticipate that this inquiry will be resolved through an agreement with the Florida Attorney General’s Office, requiring approval by a Florida circuit court in order to become effective. We believe that the amount accrued for this matter is adequate as of November 30, 2015. Guarantees. In the normal course of our business, we issue certain representations, warranties and guarantees related to our home and land sales. Based on historical evidence, we do not believe any potential liability with respect to these representations, warranties or guarantees would be material to our consolidated financial statements. Self-Insurance. W e maintain, and require the majority of our independent subcontractors to maintain, general liability insurance (including construction defect and bodily injury coverage) and workers’ compensation insurance. These insurance policies protect us against a portion of our risk of loss from claims related to our homebuilding activities, subject to certain self-insured retentions, deductibles and other coverage limits . We self-insure a portion of our overall risk through the use of a captive insurance subsidiary. We also maintain certain other insurance policies. In Arizona, California, Colorado and Nevada, our subcontractors’ general liability insurance primarily takes the form of a wrap-up policy, where eligible independent subcontractors are enrolled as insureds on each project. Enrolled subcontractors contribute toward the cost of the insurance and agree to pay a contractual amount in the future if there is a claim related to their work. To the extent provided under the wrap-up program, we absorb the enrolled subcontractors’ general liability associated with the work performed on our homes within the applicable projects as part of our overall general liability insurance and our self-insurance through our captive insurance subsidiary. We record expenses and liabilities based on the estimated costs required to cover our self-insured retention and deductible amounts under our insurance policies, and the estimated costs of potential claims and claim adjustment expenses that are above our coverage limits or that are not covered by our insurance policies. These estimated costs are based on an analysis of our historical claims and industry data, and include an estimate of construction defect claims incurred but not yet reported. We engage a third-party actuary that uses our historical claim and expense data, as well as industry data, to estimate our liabilities related to unpaid claims, claim adjustment expenses, third-party recoveries and incurred but not yet reported claims associated with the risks that we are assuming with respect to our self-insurance and insurance policy deductibles. Key assumptions used in these estimates include claim frequencies, severities and resolution patterns, which can occur over an extended period of time. These estimates are subject to variability due to the length of time between the delivery of a home to a homebuyer and when a structural warranty or construction defect claim is made, and the ultimate resolution of such claim; uncertainties regarding such claims relative to our markets and the types of product we build; insurance industry practices; and legal or regulatory actions and/or interpretations, among other factors. Due to the degree of judgment involved and the potential for variability in these underlying assumptions, our actual future costs could differ from those estimated. In addition, changes in the frequency and severity of reported claims and the estimates to resolve claims can impact the trends and assumptions used in the actuarial analysis, which could be material to our consolidated financial statements. Though state regulations vary, structural warranty or construction defect claims can be reported and resolved over a long period of time, which can extend for 10 years or more. As a result, the majority of the estimated liability relates to incurred but not yet reported claims and thus, adjustments related to individual existing claims generally do not significantly impact the overall estimated liability. Adjustments to our liabilities related to homes delivered in prior years are recorded in the period in which a change in our estimate occurs. The changes in our self-insurance liability were as follows (in thousands): Years Ended November 30, 2015 2014 2013 Balance at beginning of year $ 86,574 $ 92,214 $ 93,349 Self-insurance expense (a) 18,590 13,491 8,239 Payments, net of recoveries (b) (22,989 ) (19,131 ) (9,374 ) Balance at end of year $ 82,175 $ 86,574 $ 92,214 (a) These expenses are included in selling, general and administrative expenses and are largely offset by contributions from independent subcontractors participating in the wrap-up policy. (b) Recoveries are reflected in the period we receive funds from independent subcontractors and/or their insurers. Performance Bonds and Letters of Credit. We are often required to provide to various municipalities and other government agencies performance bonds and/or letters of credit to secure the completion of our projects and/or in support of obligations to build community improvements such as roads, sewers, water systems and other utilities, and to support similar development activities by certain of our unconsolidated joint ventures. At November 30, 2015 , we had $565.4 million of performance bonds and $33.4 million of letters of credit outstanding. At November 30, 2014 , we had $541.6 million of performance bonds and $26.7 million of letters of credit outstanding. If any such performance bonds or letters of credit are called, we would be obligated to reimburse the issuer of the performance bond or letter of credit. We do not believe that a material amount of any currently outstanding performance bonds or letters of credit will be called. Performance bonds do not have stated expiration dates. Rather, we are released from the performance bonds as the underlying performance is completed. The expiration dates of some letters of credit issued in connection with community improvements coincide with the expected completion dates of the related projects or obligations. Most letters of credit, however, are issued with an initial term of one year and are typically extended on a year-to-year basis until the related performance obligations are completed. Land Option Contracts and Other Similar Contracts. In the ordinary course of business, we enter into land option contracts and other similar contracts to acquire rights to land for the construction of homes. At November 30, 2015 , we had total cash deposits of $54.5 million to purchase land having an aggregate purchase price of $1.19 billion . Our land option contracts and other similar contracts generally do not contain provisions requiring our specific performance. Leases. We lease certain property and equipment under noncancelable operating leases. Office and equipment leases are typically for terms of three to five years and generally provide renewal options for terms up to an additional five years . In most cases, we expect that leases that expire will be renewed or replaced by other leases with similar terms. The future minimum rental payments under operating leases, which primarily consist of office leases having initial or remaining noncancelable lease terms in excess of one year , are as follows (in thousands): Years Ending November 30, 2016 $ 7,552 2017 5,805 2018 4,924 2019 4,316 2020 3,417 Thereafter 9,442 Total minimum lease payments $ 35,456 Rental expense on our operating leases was $8.5 million in 2015 , $7.7 million in 2014 and $6.5 million in 2013 .

Legal Matters

Legal Matters	12 Months Ended
	Nov. 30, 2015
Loss Contingency, Information about Litigation Matters [Abstract]
Legal Matters	Legal Matters Nevada Development Contract Litigation. KB HOME Nevada Inc., a wholly owned subsidiary of ours (“KB Nevada”), is a defendant in a case in the Eighth Judicial District Court in Clark County, Nevada entitled Las Vegas Development Associates, LLC, Essex Real Estate Partners, LLC, et al. v. KB HOME Nevada Inc. In 2007, Las Vegas Development Associates, LLC (“LVDA”) agreed to purchase from KB Nevada approximately 83 acres of land located near Las Vegas, Nevada. LVDA subsequently assigned its rights to Essex Real Estate Partners, LLC (“Essex”). KB Nevada and Essex entered into a development agreement relating to certain major infrastructure improvements. LVDA’s and Essex’s complaint, initially filed in 2008, alleged that KB Nevada breached the development agreement, and also alleged that KB Nevada fraudulently induced them to enter into the purchase and development agreements. LVDA’s and Essex’s lenders subsequently filed related actions that were consolidated into the LVDA/Essex matter. The consolidated plaintiffs sought rescission of the agreements or, in the alternative, compensatory damages of $55 million plus unspecified punitive damages and other damages, and interest charges in excess of $41 million (“Claimed Damages”). KB Nevada has denied the allegations, and believes it has meritorious defenses to the consolidated plaintiffs’ claims. On March 15, 2013, the court entered orders denying the consolidated plaintiffs’ motions for summary judgment and granting the majority of KB Nevada’s motions for summary judgment, eliminating, among other of the consolidated plaintiffs’ claims, those for fraud, negligent misrepresentation, and punitive damages. With the court’s decisions, the only remaining claims against KB Nevada are for contract damages and rescission. In August 2013, the court granted motions that further narrowed the scope of the Claimed Damages. While the ultimate outcome is uncertain — we believe it is reasonably possible that the loss in this matter could exceed the amount accrued by a range of zero to approximately $55 million plus prejudgment interest, which could be material to our consolidated financial statements — KB Nevada believes it will be successful in defending against the consolidated plaintiffs’ remaining claims and that the consolidated plaintiffs will not be awarded rescission or damages. The non-jury trial was originally set for September 2012 and extended multiple times by the court. On October 28, 2015, the court scheduled a new trial date of January 12, 2016, which the court subsequently set aside and the establishment of a new date is pending. Wage and Hour Litigation. In May 2011, a group of current and former sales representatives filed a collective action lawsuit in the United States District Court for the Southern District of Texas, Galveston Division entitled Edwards, K. v. KB Home . The lawsuit alleged that we misclassified sales representatives and failed to pay minimum and overtime wages in violation of the Fair Labor Standards Act (29 U.S.C. §§ 206-07). In September 2012, the Edwards court conditionally certified a nationwide class, and in May 2015, scheduled an initial trial involving a portion of the plaintiffs for December 2015. In September 2013, some of the plaintiffs in the Edwards case filed a lawsuit in Los Angeles Superior Court entitled Andrea L. Bejenaru, et. al. v. KB Home, et. al . The lawsuit alleged violations of California laws relating to overtime, meal period and rest break pay, itemized wage statements, waiting time penalties and unfair business practices for a class of sales representatives. Although the case involved a putative class of individuals who were our sales representatives from September 2009 forward, the Bejenaru case was not certified as a class action. In the second quarter of 2015, plaintiff representatives in the Edwards and the Bejenaru cases claimed $66 million in compensatory damages, penalties and interest, as well as injunctive relief, attorneys’ fees and costs for both matters. On November 18, 2015, we reached a tentative mediated settlement with the plaintiff representatives in both cases that remains subject to judicial approval. We established an accrual for these matters in 2015, and increased the accrual by an immaterial amount in the fourth quarter to reflect the tentative settlement. San Diego Water Board Notice of Violation . In August 2015, the California Regional Water Quality Control Board, San Diego Region (“RWQCB”) issued to us and another homebuilder a Notice of Violation (“NOV”) alleging violations of the California Water Code and waste discharge prohibitions of the water quality control plan for the San Diego Region (Basin Plan). According to the NOV, the alleged violations involved the unpermitted discharge of fill material into the waters of the United States/California during the grading of a required secondary access road for a community located in San Diego County, California, which was performed pursuant to a County-issued grading permit. In its NOV, the RWQCB requested to meet with us to discuss the alleged violations as part of its process to determine whether to bring any enforcement action. We have met with the RWQCB and are currently in discussions to resolve the matters alleged in the NOV. While the ultimate outcome is uncertain, we believe that any penalties and related corrective measures the RWQCB may impose under the NOV could exceed $100,000 (the threshold for the required disclosure of this type of environmental proceeding) but they are not expected to be material to our consolidated financial statements. Other Matters. In addition to the specific proceedings described above, we are involved in other litigation and regulatory proceedings incidental to our business that are in various procedural stages. We believe that the accruals we have recorded for probable and reasonably estimable losses with respect to these proceedings are adequate and that, as of November 30, 2015, it was not reasonably possible that an additional material loss had been incurred in an amount in excess of the estimated amounts already recognized in our consolidated financial statements. We evaluate our accruals for litigation and regulatory proceedings at least quarterly and, as appropriate, adjust them to reflect (a) the facts and circumstances known to us at the time, including information regarding negotiations, settlements, rulings and other relevant events and developments; (b) the advice and analyses of counsel; and (c) the assumptions and judgment of management. Similar factors and considerations are used in establishing new accruals for proceedings as to which losses have become probable and reasonably estimable at the time an evaluation is made. Based on our experience, we believe that the amounts that may be claimed or alleged against us in these proceedings are not a meaningful indicator of our potential liability. The outcome of any of these proceedings, including the defense and other litigation-related costs and expenses we may incur, however, is inherently uncertain and could differ significantly from the estimate reflected in a related accrual, if made. Therefore, it is possible that the ultimate outcome of any proceeding, if in excess of a related accrual or if an accrual had not been made, could be material to our consolidated financial statements.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Nov. 30, 2015
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Preferred Stock. To help protect the benefits of our NOLs, built-in losses and tax credits from the impact of an ownership change under Section 382, on January 22, 2009, we adopted a Rights Agreement dated as of that date (the “2009 Rights Agreement”), and we declared a dividend distribution of one preferred share purchase right for each outstanding share of common stock that was payable to stockholders of record as of the close of business on March 5, 2009. Subject to the terms, provisions and conditions of the 2009 Rights Agreement, if these rights become exercisable, each right would initially represent the right to purchase from us 1/100th of a share of our Series A Participating Cumulative Preferred Stock for a purchase price of $85.00 (“Purchase Price”). If issued, each fractional share of preferred stock would generally give a stockholder approximately the same dividend, voting and liquidation rights as does one share of our common stock. However, prior to exercise, a right does not give its holder any rights as a stockholder, including without limitation any dividend, voting or liquidation rights. The rights will not be exercisable until the earlier of (a) 10 calendar days after a public announcement by us that a person or group has become an Acquiring Person (as defined under the 2009 Rights Agreement) and (b) 10 business days after the commencement of a tender or exchange offer by a person or group if upon consummation of the offer the person or group would beneficially own 4.9% or more of our outstanding common stock. Until these rights become exercisable (the “Distribution Date”), common stock certificates will evidence the rights and may contain a notation to that effect. Any transfer of shares of our common stock prior to the Distribution Date will constitute a transfer of the associated rights. After the Distribution Date, the rights may be transferred other than in connection with the transfer of the underlying shares of our common stock. If there is an Acquiring Person on the Distribution Date or a person or group becomes an Acquiring Person after the Distribution Date, each holder of a right, other than rights that are or were beneficially owned by an Acquiring Person, which will be void, will thereafter have the right to receive upon exercise of a right and payment of the Purchase Price, that number of shares of our common stock having a market value of two times the Purchase Price. After the later of the Distribution Date and the time we publicly announce that an Acquiring Person has become such, our board of directors may exchange the rights, other than rights that are or were beneficially owned by an Acquiring Person, which will be void, in whole or in part, at an exchange ratio of one share of common stock per right, subject to adjustment. At any time prior to the later of the Distribution Date and the time we publicly announce that an Acquiring Person becomes such, our board of directors may redeem all of the then-outstanding rights in whole, but not in part, at a price of $.001 per right, subject to adjustment (“Redemption Price”). The redemption will be effective immediately upon the board of directors’ action, unless the action provides that such redemption will be effective at a subsequent time or upon the occurrence or nonoccurrence of one or more specified events, in which case the redemption will be effective in accordance with the provisions of the action. Immediately upon the effectiveness of the redemption of the rights, the right to exercise the rights will terminate and the only right of the holders of rights will be to receive the Redemption Price, with interest thereon. The rights issued pursuant to the 2009 Rights Agreement will expire on the earliest of (a) the close of business on March 5, 2019, (b) the time at which the rights are redeemed, (c) the time at which the rights are exchanged, (d) the time at which our board of directors determines that a related provision in our Restated Certificate of Incorporation is no longer necessary, and (e) the close of business on the first day of a taxable year of ours to which our board of directors determines that no tax benefits may be carried forward. At our annual meeting of stockholders on April 2, 2009, our stockholders approved the 2009 Rights Agreement. Common Stock. In 2014, we issued 7,986,111 shares of our common stock, par value $1.00 per share, in underwritten public offerings at a price of $18.00 per share. We used shares of treasury stock for the issuance and received net proceeds of $137.0 million after underwriting discounts, commissions and transaction expenses. In 2013, we issued 6,325,000 shares of our common stock, par value $1.00 per share, in an underwritten public offering at a price of $18.25 per share. We used shares of treasury stock for the issuance and received net proceeds of $109.5 million after underwriting discounts, commissions and transaction expenses. We maintain a common stock reserve account with our transfer agent to reserve the maximum number of shares of our common stock potentially deliverable upon conversion to holders of the 1.375% Convertible Senior Notes due 2019 based on the terms of their governing instruments. Accordingly, the common stock reserve account had a balance of 12,602,735 shares at November 30, 2015 and 2014. The maximum number of shares would potentially be deliverable to holders only in certain limited circumstances as set forth in the instruments governing these notes. Each share of our common stock issued in the 2013 and 2014 offerings includes a preferred share purchase right associated with and subject to the terms of the Rights Agreement. Any shares of our common stock delivered upon conversion to holders of the 1.375% Convertible Senior Notes due 2019 will also include such preferred share purchase rights. In 2014, our board of directors amended the Director Plan to provide directors with a one-time opportunity to irrevocably elect to receive an equivalent value of shares of our common stock in lieu of the cash payments that are otherwise due upon the respective settlement of their outstanding and any future Director Plan SARs under the terms of the plan. Concurrent with the amendment of the Director Plan, for the purpose of effecting any such Director Plan SAR settlements, our board of directors authorized the repurchase of no more than 680,000 shares of our common stock, and also authorized potential future grants of up to 680,000 stock payment awards under the KB Home 2014 Equity Incentive Plan (“2014 Plan”), in each case solely as necessary for director elections in respect of outstanding Director Plan SARs. The 2014 Plan is discussed in Note 19. Employee Benefit and Stock Plans. During 2014, following the amendment of the Director Plan, directors made irrevocable elections to receive an aggregate of 679,815 shares of our common stock upon the respective settlement of their outstanding Director Plan SARs. As of November 30, 2015, we had not settled any Director Plan SARs. In addition, we had not repurchased any shares and no stock payment awards had been granted under the 2014 Plan pursuant to the respective board of directors authorizations. In 2013, directors were provided a one-time opportunity to elect and they made irrevocable elections to receive an equivalent value of shares of our common stock in lieu of the cash payments that are otherwise due upon the settlement of their outstanding stock units under the terms of the Director Plan. At that date, there were a total of 481,554 outstanding stock units. Concurrent with the amendment of the Director Plan, our board of directors authorized the repurchase of no more than 482,000 shares of our common stock solely as necessary for director elections in respect of outstanding stock units. During 2013, following the amendment of the Director Plan, directors made irrevocable elections to receive an aggregate of 478,294 shares of our common stock upon the respective settlement of their outstanding stock units, and we repurchased through open market transactions such shares pursuant to the authorization at an aggregate price of $7.9 million . We do not anticipate any additional repurchases of our common stock pursuant to this board of directors authorization. The above-described director elections made in 2014 and 2013 changed only the method of settlement of the outstanding Director Plan SARs and stock units, respectively, and did not change any of the other terms of these awards or impact the value to the directors. As a result of the directors’ elections, the relevant outstanding Director Plan SARs and stock units were effectively converted to stock-settled awards, which are accounted for as equity awards, instead of cash-settled liability awards, thereby reducing the degree of variability in the expense associated with such stock units in future quarters. As of November 30, 2015, we were authorized to repurchase 4,000,000 shares of our common stock under a stand-alone board-approved share repurchase program. We did not repurchase any of our common stock under this program in 2015, 2014 or 2013. Our board of directors declared four quarterly cash dividends of $.0250 per share of common stock in 2015, 2014 and 2013. All dividends declared during 2015, 2014 and 2013 were also paid during those years. Treasury Stock. We acquired $.6 million , $.5 million and $8.5 million of our common stock in 2015, 2014 and 2013, respectively. All of the common stock acquired in 2015 and 2014 and a portion of the common stock acquired in 2013 consisted of previously issued shares delivered to us by employees to satisfy their withholding tax obligations on the vesting of restricted stock awards or of forfeitures of previous restricted stock awards. The common stock acquired in 2013 was primarily related to director elections in respect of outstanding stock units under the Director Plan, as described above. Treasury stock is recorded at cost. Differences between the cost of treasury stock and the reissuance proceeds are recorded to paid-in capital. These transactions are not considered repurchases under the 4,000,000 share repurchase program described above.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Nov. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table presents the changes in the balances of each component of accumulated other comprehensive loss (in thousands): Postretirement Benefit Plan Adjustments Total Accumulated Other Comprehensive Loss Balance at November 30, 2013 $ (17,516 ) Other comprehensive loss before reclassifications (3,801 ) Amounts reclassified from accumulated other comprehensive loss 1,913 Income tax expense related to items of other comprehensive income (1,604 ) Other comprehensive loss, net of tax (3,492 ) Balance at November 30, 2014 (21,008 ) Other comprehensive income before reclassifications 3,745 Amounts reclassified from accumulated other comprehensive loss 2,404 Income tax expense related to items of other comprehensive income (2,460 ) Other comprehensive income, net of tax 3,689 Balance at November 30, 2015 $ (17,319 ) The amounts reclassified from accumulated other comprehensive loss consisted of the following (in thousands): Years Ended November 30, Details About Accumulated Other Comprehensive Loss Components 2015 2014 2013 Postretirement benefit plan adjustments Amortization of net actuarial loss $ 848 $ 357 $ 1,803 Amortization of prior service cost 1,556 1,556 1,556 Total reclassifications (a) $ 2,404 $ 1,913 $ 3,359 (a) The accumulated other comprehensive loss components are included in the computation of net periodic benefit costs as further discussed in Note 20. Postretirement Benefits. The estimated net actuarial loss and prior service cost expected to be amortized from accumulated other comprehensive loss into net periodic benefit cost during 2016 are $.1 million and $1.6 million , respectively.

Employee Benefit and Stock Plan

Employee Benefit and Stock Plans	12 Months Ended
	Nov. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Employee Benefit and Stock Plans	Employee Benefit and Stock Plans Most of our employees are eligible to participate in the KB Home 401(k) Savings Plan (“401(k) Plan”) under which we partially match employee contributions. The aggregate cost of the 401(k) Plan to us was $4.6 million in 2015 , $3.8 million in 2014 and $3.3 million in 2013 . The assets of the 401(k) Plan are held by a third-party trustee. The 401(k) Plan participants may direct the investment of their funds among one or more of the several fund options offered by the 401(k) Plan. As of November 30, 2015 , 2014 and 2013 , approximately 5% , 6% and 7% , respectively, of the 401(k) Plan’s net assets were invested in our common stock. KB Home 2014 Plan. At our Annual Meeting of Stockholders held on April 3, 2014, our stockholders approved the 2014 Plan, authorizing, among other things, the issuance for grants of stock-based awards to our employees, non-employee directors and consultants of up to 4,800,000 shares of our common stock, plus any shares that were available for grant as of April 3, 2014 under our 2010 Equity Incentive Plan (“2010 Plan”), and any shares subject to then-outstanding awards under the 2010 Plan that subsequently expire or are canceled, forfeited, tendered or withheld to satisfy tax withholding obligations with respect to full value awards, or settled for cash, subject to the terms of the 2014 Plan. No new awards may be made under the 2010 Plan. As a result, as of April 3, 2014, the 2014 Plan became our only active equity compensation plan. Under the 2014 Plan, grants of stock options and other similar awards reduce the 2014 Plan’s share capacity on a 1 -for-1 basis, and grants of restricted stock and other similar “full value” awards reduce the 2014 Plan’s share capacity on a 1.78 -for-1 basis. In addition, subject to the 2014 Plan’s terms and conditions, a stock-based award may also be granted under the 2014 Plan to replace an outstanding award granted under another plan of ours (subject to the terms of such other plan) with terms substantially identical to those of the award being replaced. The 2014 Plan provides that stock options and SARs may be awarded for periods of up to 10 years . The 2014 Plan also enables us to grant cash bonuses and other stock-based awards. As of November 30, 2015, 2014, and 2013, in addition to awards outstanding under the 2014 Plan, we had awards outstanding under the 2010 Plan and our Amended and Restated 1999 Incentive Plan, both of which provided for generally the same types of awards as the 2014 Plan. We also had awards outstanding under our Performance-Based Incentive Plan for Senior Management, which provided for generally the same types of awards as the 2014 Plan, but stock option awards granted under this plan had terms of up to 15 years . Stock-Based Compensation. With the approval of the management development and compensation committee, consisting entirely of independent members of our board of directors, we have provided compensation benefits to certain of our employees in the form of stock options, restricted stock, PSUs and SARs. Certain stock-based compensation benefits are also provided to our non-employee directors pursuant to the Director Plan. Compensation expense related to equity-based awards is included in selling, general and administrative expenses in our consolidated statements of operations. The following table presents our stock-based compensation expense (in thousands): Years Ended November 30, 2015 2014 2013 Stock options (a) $ 7,576 $ 3,024 $ 2,285 Restricted stock 2,499 1,750 1,365 PSUs 5,404 3,699 2,049 Director awards 1,664 (91 ) 4,023 Total $ 17,143 $ 8,382 $ 9,722 (a) Compensation expense associated with stock options accelerated in 2015 as a result of retirement provisions being met for certain stock option recipients. Stock Options. Stock option transactions are summarized as follows: Years Ended November 30, 2015 2014 2013 Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options outstanding at beginning of year 11,735,042 $ 20.45 10,531,938 $ 21.11 10,105,546 $ 21.27 Granted 1,262,000 14.92 1,273,647 14.62 550,000 16.63 Exercised (76,164 ) 9.69 (36,665 ) 7.92 (118,208 ) 13.46 Cancelled (285,234 ) 45.80 (33,878 ) 20.25 (5,400 ) 24.24 Options outstanding at end of year 12,635,644 $ 19.39 11,735,042 $ 20.45 10,531,938 $ 21.11 Options exercisable at end of year 10,389,722 $ 20.35 10,103,739 $ 21.32 9,414,935 $ 22.26 Options available for grant at end of year 1,544,195 3,514,077 746,043 The total intrinsic value of stock options exercised was $.4 million for the year ended November 30, 2015 , $.3 million for the year ended November 30, 2014 and $1.2 million for the year ended November 30, 2013. The aggregate intrinsic value of stock options outstanding was $16.4 million , $35.8 million and $32.3 million at November 30, 2015 , 2014 and 2013 , respectively. The intrinsic value of stock options exercisable was $16.4 million at November 30, 2015 , $31.7 million at November 30, 2014 , and $25.5 million at November 30, 2013 . The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the price of the option. Stock options outstanding and stock options exercisable at November 30, 2015 are summarized as follows: Options Outstanding Options Exercisable Range of Exercise Price Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life $ 6.32 to $11.06 2,771,667 $ 8.33 5.4 2,771,667 $ 8.33 $11.07 to $14.95 3,166,036 14.49 7.7 1,088,448 13.89 $14.96 to $19.90 2,652,671 17.31 4.2 2,484,337 17.35 $19.91 to $33.92 2,092,746 26.99 2.1 2,092,746 26.99 $33.93 to $69.63 1,952,524 37.73 2.6 1,952,524 37.73 $ 6.32 to $69.63 12,635,644 $ 19.39 4.7 10,389,722 $ 20.35 3.8 The weighted average grant date fair value of stock options granted in 2015 , 2014 and 2013 was $5.49 , $5.07 and $6.96 , respectively. The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions: Years Ended November 30, 2015 2014 2013 Risk-free interest rate 1.4 % 1.6 % 1.3 % Expected volatility factor 43.6 % 41.0 % 52.3 % Expected dividend yield .7 % .7 % .6 % Expected term 5 years 5 years 5 years The risk-free interest rate assumption is determined based on observed interest rates appropriate for the expected term of our stock options. The expected volatility factor is based on a combination of the historical volatility of our common stock and the implied volatility of publicly traded options on our stock. The expected dividend yield assumption is based on our history of dividend payouts. The expected term of employee stock options is estimated using historical data. As of November 30, 2015 , there was $5.0 million of total unrecognized stock-based compensation expense related to unvested stock option awards. This expense is expected to be recognized over a weighted average period of 1.7 years . We record proceeds from the exercise of stock options as additions to common stock and paid-in capital. The tax shortfalls of $1.7 million in 2015 , $1.2 million in 2014 and $.7 million in 2013 resulting from the cancellation of stock awards were reflected in paid-in capital. In 2015 , the consolidated statement of cash flows reflected $.2 million excess tax benefit associated with the exercise of stock options. In 2014 and 2013 , the consolidated statement of cash flows reflected no excess tax benefit associated with the exercise of stock options. Restricted Stock. From time to time, we grant restricted stock to various employees as a compensation benefit. During the restriction periods, these employees are entitled to vote and to receive cash dividends on such shares. The restrictions imposed with respect to the shares granted generally lapse over periods of three years if certain conditions are met. Restricted stock transactions are summarized as follows: Years Ended November 30, 2015 2014 2013 Shares Weighted Average per Share Grant Date Fair Value Shares Weighted Average per Share Grant Date Fair Value Shares Weighted Average per Share Grant Date Fair Value Outstanding at beginning of year 355,294 $ 15.81 219,628 $ 16.23 229,724 $ 15.81 Granted 285,006 15.19 219,835 15.34 88,000 17.50 Vested (204,663 ) 14.83 (73,908 ) 16.52 (91,312 ) 15.18 Cancelled (18,660 ) 15.45 (10,261 ) 18.55 (6,784 ) 17.24 Outstanding at end of year 416,977 $ 15.88 355,294 $ 15.81 219,628 $ 16.23 As of November 30, 2015 , we had $4.7 million of total unrecognized compensation cost related to restricted stock awards that will be recognized over a weighted average period of approximately three years. Performance-Based Restricted Stock Units. On October 8, 2015, we granted PSUs to certain employees. Each PSU grant corresponds to a target amount of our common stock (“Award Shares”). Each PSU entitles the recipient to receive a grant of between 0% and 200% of the recipient’s Award Shares, and will vest based on our achieving, over a three-year period commencing on December 1, 2015 and ending on November 30, 2018, specified levels of (a) adjusted cumulative earnings per share (b) average adjusted return on invested capital and (c) revenue growth performance relative to a peer group of high-production public homebuilding companies. The grant date fair value of each such PSU was $14.92 . On October 9, 2014, we granted PSUs to certain employees with similar terms as the 2015 PSU grants, except that the applicable performance period commenced on December 1, 2014 and ends on November 30, 2017. The grant date fair value of each such 2014 PSU was $14.62 . On October 10, 2013, we granted PSUs to certain employees with similar terms as the 2015 PSU grants, except that the applicable performance period commenced on December 1, 2013 and ends on November 30, 2016 and the applicable performance measures are specified levels of (a) average return on equity performance and (b) revenue growth performance relative to a peer group of high-production public homebuilding companies. The grant date fair value of each such 2013 PSU was $16.63 . PSU transactions are summarized as follows: Years Ended November 30, 2015 2014 2013 Shares Weighted Average per Share Grant Date Fair Value Shares Weighted Average per Share Grant Date Fair Value Shares Weighted Average per Share Grant Date Fair Value Outstanding at beginning of year 628,209 $ 15.70 385,049 $ 16.39 227,049 $ 16.23 Granted 192,000 14.92 243,160 14.62 158,000 16.63 Outstanding at end of year 820,209 $ 15.52 628,209 $ 15.70 385,049 $ 16.39 The number of shares of our common stock actually granted to a recipient, if any, when a PSU vests will depend on the degree of achievement of the applicable performance measures during the applicable three-year period. The PSUs have no dividend or voting rights during the performance period. Compensation cost for PSUs is initially estimated based on target performance achievement and adjusted as appropriate throughout the performance period. Accordingly, future compensation costs associated with outstanding PSUs may increase or decrease based on the probability of achievement with respect to the applicable performance measures. At November 30, 2015 , we had $9.8 million of total unrecognized compensation cost related to unvested PSUs, which is expected to be recognized over a weighted-average period of approximately three years. Stock Appreciation Rights. In 2008, we granted SARs to various employees. These cash-settled awards have been accounted for as liabilities in our consolidated financial statements. Each SAR represents a right to receive a cash payment equal to the positive difference, if any, between the grant price and the market value of a share of our common stock on the date of exercise. The SARs vested in equal annual installments over three years . At November 30, 2015 , 2014 and 2013 , we had 29,939 SARs outstanding, which are fully vested and will expire in July 2017 . Director Awards. We have granted Director Plan SARs and stock units to our non-employee directors pursuant to the terms of the Director Plan and elections made by each director. All of these stock-settled awards were fully vested as of November 30, 2015. Director Plan SARs have terms of up to 15 years and may be exercised when the director leaves the board or sooner if stock ownership requirements have been met, while each stock unit may be settled for one share of common stock only when the director leaves the board. All Director Plan SARs were granted at an exercise price equal to the closing price of our common stock on the date of grant. As of November 30, 2015, 2014 and 2013, our non-employee directors had 452,983 , 452,983 and 388,884 , respectively, of outstanding Director Plan SARs and 419,962 , 358,404 and 322,379 , respectively, of outstanding stock units. In addition, we granted common stock to our non-employee directors pursuant to the Director Plan and elections made by each director. Such common stock was issued to the applicable recipients on the date of grant and is unrestricted. Grantor Stock Ownership Trust. We have a grantor stock ownership trust (“Trust”), administered by a third-party trustee, that holds and distributes the shares of common stock acquired to support certain employee compensation and employee benefit obligations under our existing stock option plan, the 401(k) Plan and other employee benefit plans. The existence of the Trust has no impact on the amount of benefits or compensation that is paid under these plans. For financial reporting purposes, the Trust is consolidated with us, and therefore any dividend transactions between us and the Trust are eliminated. Acquired shares held by the Trust remain valued at the market price on the date of purchase and are shown as a reduction to stockholders’ equity in the consolidated balance sheets. The difference between the Trust share value and the market value on the date shares are released from the Trust is included in paid-in capital. Common stock held in the Trust is not considered outstanding in the computations of earnings per share. The Trust held 10,135,461 and 10,335,461 shares of common stock at November 30, 2015 and 2014 , respectively. The trustee votes shares held by the Trust in accordance with voting directions from eligible employees, as specified in a trust agreement with the trustee.

Postretirement Benefits

Postretirement Benefits	12 Months Ended
	Nov. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Postretirement Benefits	Postretirement Benefits We have a supplemental non-qualified, unfunded retirement plan, the KB Home Retirement Plan (“Retirement Plan”), effective as of July 11, 2002, pursuant to which we have offered to pay supplemental pension benefits to certain designated individuals (consisting of current and former employees) in connection with their retirement. The Retirement Plan was closed to new participants in 2004. We also have an unfunded death benefit plan, the KB Home Death Benefit Only Plan (“DBO Plan”), implemented on November 1, 2001, for certain designated individuals (consisting of current and former employees). The DBO Plan was closed to new participants in 2006. In connection with these plans, we have purchased cost recovery life insurance contracts on the lives of the designated individuals. The insurance contracts associated with the plans are held by a trust. The trust is the owner and beneficiary of such insurance contracts. The amount of the insurance coverage under the contracts is designed to provide sufficient funds to cover all costs of the plans if assumptions made as to employment term, mortality experience, policy earnings and other factors, as applicable, are realized. The cash surrender value of the Retirement Plan life insurance contracts was $45.7 million at November 30, 2015 and $48.1 million at November 30, 2014 . We recognized an investment loss on the cash surrender value of the Retirement Plan life insurance contracts of $1.3 million in 2015 , and investment gains of $1.8 million in 2014 and $3.1 million in 2013 . In 2015 , 2014 , and 2013 , we paid $1.4 million , $1.2 million and $1.1 million , respectively, in benefits under the Retirement Plan to eligible former employees. The cash surrender value of the DBO Plan life insurance contracts was $16.8 million at November 30, 2015 and $17.1 million at November 30, 2014 . We recognized an investment loss on the cash surrender value of the DBO Plan life insurance contracts of $.3 million in 2015 , and investment gains of $.7 million in 2014 and $1.4 million in 2013 . We have not paid out any benefits under the DBO Plan. The net periodic benefit cost of our Retirement Plan and DBO Plan consisted of the following (in thousands): Years Ended November 30, 2015 2014 2013 Interest cost $ 2,270 $ 2,456 $ 2,078 Amortization of prior service cost 1,556 1,556 1,556 Service cost 1,142 1,184 1,504 Amortization of net actuarial loss 848 357 1,803 Total $ 5,816 $ 5,553 $ 6,941 The liabilities related to these plans were $60.8 million at November 30, 2015 and $62.6 million at November 30, 2014 , and are included in accrued expenses and other liabilities in the consolidated balance sheets. For the years ended November 30, 2015 and 2014 , the discount rates we used for the plans were 3.6% and 3.5% , respectively. Benefit payments under our Retirement Plan and DBO Plan are expected to be paid during each year ended November 30 as follows: 2016 — $1.7 million ; 2017 — $1.8 million ; 2018 — $2.7 million ; 2019 — $3.2 million ; 2020 — $3.4 million ; and for the five years ended November 30, 2025 — $19.2 million in the aggregate.

Supplemental Disclosure to Cons

Supplemental Disclosure to Consolidated Statements of Cash Flows	12 Months Ended
	Nov. 30, 2015
Supplemental Cash Flow Information [Abstract]
Supplemental Disclosure to Consolidated Statements of Cash Flows	Supplemental Disclosure to Consolidated Statements of Cash Flows The following are supplemental disclosures to the consolidated statements of cash flows (in thousands): Years Ended November 30, 2015 2014 2013 Summary of cash and cash equivalents at the end of the year: Homebuilding $ 559,042 $ 356,366 $ 530,095 Financial services 1,299 2,402 2,428 Total $ 560,341 $ 358,768 $ 532,523 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 22,486 $ 13,037 $ 64,520 Income taxes paid 3,612 1,619 800 Income taxes refunded 11 1,728 61 Supplemental disclosure of noncash activities: Reclassification of warranty recoveries to receivables $ 7,238 $ 18,110 $ — Increase (decrease) in consolidated inventories not owned 106,807 (5,755 ) 4,798 Increase in inventories due to distributions of land and land development from an unconsolidated joint venture 12,705 90,115 — Inventories and inventory-related obligations associated with TIFE assessments tied to distribution of land from an unconsolidated joint venture — 33,197 — Inventories acquired through seller financing 20,291 61,553 27,600 Conversion of liability awards to equity awards — 6,455 8,346

Supplemental Guarantor Informat

Supplemental Guarantor Information	12 Months Ended
	Nov. 30, 2015
Guarantees [Abstract]
Supplemental Guarantor Information	Supplemental Guarantor Information Our obligations to pay principal, premium, if any, and interest on the senior notes and borrowings, if any, under the Credit Facility are guaranteed on a joint and several basis by certain of our subsidiaries (“Guarantor Subsidiaries”). The guarantees are full and unconditional and the Guarantor Subsidiaries are 100% owned by us. Pursuant to the terms of the indenture governing the senior notes and the terms of the Credit Facility, if any of the Guarantor Subsidiaries ceases to be a “significant subsidiary” as defined by Rule 1-02 of Regulation S-X (as in effect on June 1, 1996) using a 5% rather than a 10% threshold (provided that the assets of our non-guarantor subsidiaries do not in the aggregate exceed 10% of an adjusted measure of our consolidated total assets), it will be automatically and unconditionally released and discharged from its guaranty of the senior notes and the Credit Facility so long as all guarantees by such Guarantor Subsidiary of any other of our or our subsidiaries’ indebtedness are terminated at or prior to the time of such release. We have determined that separate, full financial statements of the Guarantor Subsidiaries would not be material to investors and, accordingly, supplemental financial information for the Guarantor Subsidiaries is presented. The supplemental financial information for all periods presented below reflects those subsidiaries that were Guarantor Subsidiaries as of November 30, 2015 . Condensed Consolidating Statements of Operations (in thousands) Year Ended November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenues $ — $ 2,653,372 $ 378,658 $ — $ 3,032,030 Homebuilding: Revenues $ — $ 2,653,372 $ 367,615 $ — $ 3,020,987 Construction and land costs — (2,209,472 ) (329,896 ) — (2,539,368 ) Selling, general and administrative expenses (86,053 ) (213,292 ) (43,653 ) — (342,998 ) Operating income (loss) (86,053 ) 230,608 (5,934 ) — 138,621 Interest income 451 6 1 — 458 Interest expense (180,701 ) (6,184 ) — 165,029 (21,856 ) Intercompany interest 289,727 (109,208 ) (15,490 ) (165,029 ) — Equity in loss of unconsolidated joint ventures — (1,803 ) (1 ) — (1,804 ) Homebuilding pretax income (loss) 23,424 113,419 (21,424 ) — 115,419 Financial services pretax income — — 11,624 — 11,624 Total pretax income (loss) 23,424 113,419 (9,800 ) — 127,043 Income tax benefit (expense) 2,000 (42,700 ) (1,700 ) — (42,400 ) Equity in net income of subsidiaries 59,219 — — (59,219 ) — Net income (loss) $ 84,643 $ 70,719 $ (11,500 ) $ (59,219 ) $ 84,643 Year Ended November 30, 2014 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenues $ — $ 2,031,564 $ 369,385 $ — $ 2,400,949 Homebuilding: Revenues $ — $ 2,031,564 $ 358,079 $ — $ 2,389,643 Construction and land costs — (1,673,916 ) (311,735 ) — (1,985,651 ) Selling, general and administrative expenses (68,717 ) (176,795 ) (42,511 ) — (288,023 ) Operating income (loss) (68,717 ) 180,853 3,833 — 115,969 Interest income 432 9 2 — 443 Interest expense (165,485 ) (6,056 ) — 140,791 (30,750 ) Intercompany interest 287,017 (127,191 ) (19,035 ) (140,791 ) — Equity in income (loss) of unconsolidated joint ventures — (2,549 ) 3,290 — 741 Homebuilding pretax income (loss) 53,247 45,066 (11,910 ) — 86,403 Financial services pretax income — — 8,546 — 8,546 Total pretax income (loss) 53,247 45,066 (3,364 ) — 94,949 Income tax benefit 215,691 551,203 56,506 — 823,400 Equity in net income of subsidiaries 649,411 — — (649,411 ) — Net income $ 918,349 $ 596,269 $ 53,142 $ (649,411 ) $ 918,349 Year Ended November 30, 2013 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenues $ — $ 1,792,040 $ 305,090 $ — $ 2,097,130 Homebuilding: Revenues $ — $ 1,792,040 $ 292,938 $ — $ 2,084,978 Construction and land costs — (1,480,822 ) (256,264 ) — (1,737,086 ) Selling, general and administrative expenses (60,545 ) (151,923 ) (43,340 ) — (255,808 ) Operating income (loss) (60,545 ) 159,295 (6,666 ) — 92,084 Interest income 768 18 6 — 792 Interest expense (143,902 ) (5,199 ) — 86,411 (62,690 ) Intercompany interest 203,096 (102,172 ) (14,513 ) (86,411 ) — Equity in income (loss) of unconsolidated joint ventures — (2,503 ) 496 — (2,007 ) Homebuilding pretax income (loss) (583 ) 49,439 (20,677 ) — 28,179 Financial services pretax income — — 10,184 — 10,184 Total pretax income (loss) (583 ) 49,439 (10,493 ) — 38,363 Income tax benefit (expense) 100 1,800 (300 ) — 1,600 Equity in net income of subsidiaries 40,446 — — (40,446 ) — Net income (loss) $ 39,963 $ 51,239 $ (10,793 ) $ (40,446 ) $ 39,963 Condensed Consolidating Statements of Comprehensive Income (Loss) (in thousands) Year Ended November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income (loss) $ 84,643 $ 70,719 $ (11,500 ) $ (59,219 ) $ 84,643 Other comprehensive income: Postretirement benefit plan adjustments 6,149 — — — 6,149 Other comprehensive income before tax 6,149 — — — 6,149 Income tax expense related to items of other comprehensive income (2,460 ) — — — (2,460 ) Other comprehensive income, net of tax 3,689 — — — 3,689 Comprehensive income (loss) $ 88,332 $ 70,719 $ (11,500 ) $ (59,219 ) $ 88,332 Year Ended November 30, 2014 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income $ 918,349 $ 596,269 $ 53,142 $ (649,411 ) $ 918,349 Other comprehensive loss: Postretirement benefit plan adjustments (1,888 ) — — — (1,888 ) Other comprehensive loss before tax (1,888 ) — — — (1,888 ) Income tax expense related to items of other comprehensive income (1,604 ) — — — (1,604 ) Other comprehensive loss, net of tax (3,492 ) — — — (3,492 ) Comprehensive income $ 914,857 $ 596,269 $ 53,142 $ (649,411 ) $ 914,857 Year Ended November 30, 2013 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income (loss) $ 39,963 $ 51,239 $ (10,793 ) $ (40,446 ) $ 39,963 Other comprehensive income: Postretirement benefit plan adjustments 10,442 — — — 10,442 Other comprehensive income, net of tax 10,442 — — — 10,442 Comprehensive income (loss) $ 50,405 $ 51,239 $ (10,793 ) $ (40,446 ) $ 50,405 Condensed Consolidating Balance Sheets (in thousands) November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Homebuilding: Cash and cash equivalents $ 444,850 $ 98,281 $ 15,911 $ — $ 559,042 Restricted cash 9,344 — — — 9,344 Receivables 39 148,338 4,305 — 152,682 Inventories — 2,979,617 334,130 — 3,313,747 Investments in unconsolidated joint ventures — 69,057 2,501 — 71,558 Deferred tax assets, net 190,770 501,454 89,972 — 782,196 Other assets 97,590 11,783 3,401 — 112,774 742,593 3,808,530 450,220 — 5,001,343 Financial services — — 14,028 — 14,028 Intercompany receivables 3,627,150 — 102,103 (3,729,253 ) — Investments in subsidiaries 39,383 — — (39,383 ) — Total assets $ 4,409,126 $ 3,808,530 $ 566,351 $ (3,768,636 ) $ 5,015,371 Liabilities and stockholders’ equity Homebuilding: Accounts payable, accrued expenses and other liabilities $ 136,352 $ 442,529 $ 118,303 $ — $ 697,184 Notes payable 2,564,762 60,774 — — 2,625,536 2,701,114 503,303 118,303 — 3,322,720 Financial services — — 1,817 — 1,817 Intercompany payables 17,178 3,305,227 406,848 (3,729,253 ) — Stockholders’ equity 1,690,834 — 39,383 (39,383 ) 1,690,834 Total liabilities and stockholders’ equity $ 4,409,126 $ 3,808,530 $ 566,351 $ (3,768,636 ) $ 5,015,371 November 30, 2014 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Homebuilding: Cash and cash equivalents $ 303,280 $ 37,112 $ 15,974 $ — $ 356,366 Restricted cash 27,235 — — — 27,235 Receivables 15 120,857 4,616 — 125,488 Inventories — 2,847,415 370,972 — 3,218,387 Investments in unconsolidated joint ventures — 76,940 2,501 — 79,441 Deferred tax assets, net 215,923 552,653 56,656 — 825,232 Other assets 99,099 13,136 2,680 — 114,915 645,552 3,648,113 453,399 — 4,747,064 Financial services — — 10,486 — 10,486 Intercompany receivables 3,582,612 — 112,919 (3,695,531 ) — Investments in subsidiaries 39,356 — — (39,356 ) — Total assets $ 4,267,520 $ 3,648,113 $ 576,804 $ (3,734,887 ) $ 4,757,550 Liabilities and stockholders’ equity Homebuilding: Accounts payable, accrued expenses and other liabilities $ 138,298 $ 317,550 $ 126,750 $ — $ 582,598 Notes payable 2,513,165 63,360 — — 2,576,525 2,651,463 380,910 126,750 — 3,159,123 Financial services — — 2,517 — 2,517 Intercompany payables 20,147 3,267,203 408,181 (3,695,531 ) — Stockholders’ equity 1,595,910 — 39,356 (39,356 ) 1,595,910 Total liabilities and stockholders’ equity $ 4,267,520 $ 3,648,113 $ 576,804 $ (3,734,887 ) $ 4,757,550 Condensed Consolidating Statements of Cash Flows (in thousands) Year Ended November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by operating activities $ 44,422 $ 125,068 $ 11,695 $ — $ 181,185 Cash flows from investing activities: Contributions to unconsolidated joint ventures — (20,625 ) (1 ) — (20,626 ) Return of investments in unconsolidated joint ventures — 14,000 — — 14,000 Purchases of property and equipment, net (2,890 ) (1,704 ) (83 ) — (4,677 ) Intercompany 45,470 — — (45,470 ) — Net cash provided by (used in) investing activities 42,580 (8,329 ) (84 ) (45,470 ) (11,303 ) Cash flows from financing activities: Change in restricted cash 17,891 — — — 17,891 Proceeds from issuance of debt 250,000 — — — 250,000 Payment of debt issuance costs (4,561 ) — — — (4,561 ) Repayment of senior notes (199,906 ) — — — (199,906 ) Payments on mortgages and land contracts due to land sellers and other loans — (22,877 ) — — (22,877 ) Issuance of common stock under employee stock plans 740 — — — 740 Excess tax benefits from stock-based compensation 157 — — — 157 Payments of cash dividends (9,186 ) — — — (9,186 ) Stock repurchases (567 ) — — — (567 ) Intercompany — (32,693 ) (12,777 ) 45,470 — Net cash provided by (used in) financing activities 54,568 (55,570 ) (12,777 ) 45,470 31,691 Net increase (decrease) in cash and cash equivalents 141,570 61,169 (1,166 ) — 201,573 Cash and cash equivalents at beginning of year 303,280 37,112 18,376 — 358,768 Cash and cash equivalents at end of year $ 444,850 $ 98,281 $ 17,210 $ — $ 560,341 Year Ended November 30, 2014 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by (used in) operating activities $ 82,629 $ (643,702 ) $ (69,618 ) $ — $ (630,691 ) Cash flows from investing activities: Contributions to unconsolidated joint ventures — (48,846 ) (251 ) — (49,097 ) Proceeds from sale of investment in unconsolidated joint venture — — 10,110 — 10,110 Purchases of property and equipment, net (208 ) (4,412 ) (1,175 ) — (5,795 ) Intercompany (794,624 ) — — 794,624 — Net cash provided by (used in) investing activities (794,832 ) (53,258 ) 8,684 794,624 (44,782 ) Cash flows from financing activities: Change in restricted cash 14,671 — — — 14,671 Proceeds from issuance of debt 400,000 — — — 400,000 Payment of debt issuance costs (5,448 ) — — — (5,448 ) Payments on mortgages and land contracts due to land sellers and other loans — (36,918 ) — — (36,918 ) Proceeds from issuance of common stock, net 137,045 — — — 137,045 Issuance of common stock under employee stock plans 1,896 — — — 1,896 Payments of cash dividends (8,982 ) — — — (8,982 ) Stock repurchases (546 ) — — — (546 ) Intercompany — 733,033 61,591 (794,624 ) — Net cash provided by financing activities 538,636 696,115 61,591 (794,624 ) 501,718 Net increase (decrease) in cash and cash equivalents (173,567 ) (845 ) 657 — (173,755 ) Cash and cash equivalents at beginning of year 476,847 37,957 17,719 — 532,523 Cash and cash equivalents at end of year $ 303,280 $ 37,112 $ 18,376 $ — $ 358,768 Year Ended November 30, 2013 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by (used in) operating activities $ 4,795 $ (457,390 ) $ 9,109 $ — $ (443,486 ) Cash flows from investing activities: Contributions to unconsolidated joint ventures — (9,334 ) (5,025 ) — (14,359 ) Purchases of property and equipment, net (519 ) (1,254 ) (618 ) — (2,391 ) Intercompany (517,803 ) — — 517,803 — Net cash used in investing activities (518,322 ) (10,588 ) (5,643 ) 517,803 (16,750 ) Cash flows from financing activities: Change in restricted cash 456 — — — 456 Proceeds from issuance of debt 680,000 — — — 680,000 Payment of debt issuance costs (16,525 ) — — — (16,525 ) Repayment of senior notes (225,394 ) — — — (225,394 ) Payments on mortgages and land contracts due to land sellers and other loans — (66,296 ) — — (66,296 ) Proceeds from issuance of common stock, net 109,503 — — — 109,503 Issuance of common stock under employee stock plans 2,181 — — — 2,181 Payments of cash dividends (8,366 ) — — — (8,366 ) Stock repurchases (8,488 ) — — — (8,488 ) Intercompany — 523,013 (5,210 ) (517,803 ) — Net cash provided by (used in) financing activities 533,367 456,717 (5,210 ) (517,803 ) 467,071 Net increase (decrease) in cash and cash equivalents 19,840 (11,261 ) (1,744 ) — 6,835 Cash and cash equivalents at beginning of year 457,007 49,218 19,463 — 525,688 Cash and cash equivalents at end of year $ 476,847 $ 37,957 $ 17,719 $ — $ 532,523

Quarterly Results (unaudited)

Quarterly Results (unaudited)	12 Months Ended
	Nov. 30, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results (unaudited)	Quarterly Results (unaudited) The following tables present our consolidated quarterly results for the years ended November 30, 2015 and 2014 (in thousands, except per share amounts): First Quarter Second Quarter Third Quarter Fourth Quarter 2015 Revenues $ 580,121 $ 622,969 $ 843,157 $ 985,783 Gross profits 86,739 97,631 133,099 171,482 Pretax income 10,499 12,673 33,954 69,917 Net income 7,799 9,573 23,254 44,017 Earnings per share: Basic $ .08 $ .10 $ .25 $ .48 Diluted $ .08 $ .10 $ .23 $ .43 2014 Revenues $ 450,687 $ 565,007 $ 589,214 $ 796,041 Gross profits 80,561 107,595 108,931 114,765 Pretax income 10,763 26,924 28,661 28,601 Net income 10,563 26,624 28,361 852,801 Earnings per share: Basic $ .13 $ .30 $ .31 $ 9.25 Diluted $ .12 $ .27 $ .28 $ 8.36 Gross profits in the fourth quarter of 2014 included inventory impairment charges of $34.2 million . Pretax income in the first quarter of 2014 included a $3.2 million gain on the sale of our interest in an unconsolidated joint venture. Net income in the fourth quarter of 2014 included the impact of an $825.2 million deferred tax asset valuation allowance reversal. Quarterly and year-to-date computations of per share amounts are made independently. Therefore, the sum of per share amounts for the quarters may not agree with per share amounts for the year.

Subsequent Event

Subsequent Event	12 Months Ended
	Nov. 30, 2015
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On January 12, 2016, our board of directors authorized us to repurchase a total of up to 10,000,000 shares of our outstanding common stock. This authorization reaffirmed and incorporated the then-current balance of 4,000,000 shares that remained under the prior board-approved share repurchase program. The amount and timing of shares purchased under this 10,000,000 share repurchase program will be subject to market and business conditions and other factors, and purchases may be made from time to time and at any time through open market or privately negotiated transactions. This share repurchase authorization will continue in effect until fully used or earlier terminated or suspended by the board of directors. As of January 22, 2016, we had repurchased 3,025,000 shares of our common stock pursuant to this authorization, at a total cost of $30.5 million .

Summary of Significant Accoun32

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Nov. 30, 2015
Segment Reporting Information [Line Items]
Operations	Operations. KB Home is a builder of attached and detached single-family residential homes, townhomes and condominiums. As of November 30, 2015 , we conducted ongoing operations in Arizona, California, Colorado, Florida, Maryland, Nevada, North Carolina, Texas and Virginia. We also offer property and casualty insurance and, in certain instances, earthquake, flood and personal property insurance to our homebuyers in the same markets where we build homes, and provide title services in the majority of our markets located within our Central and Southeast homebuilding reporting segments. Since July 2014, we have also offered mortgage banking services, including mortgage loan originations, to our homebuyers indirectly through HCM, a joint venture of a subsidiary of ours and a subsidiary of Nationstar. HCM is accounted for as an unconsolidated joint venture within our financial services reporting segment.
Basis of Presentation	Basis of Presentation. Our consolidated financial statements have been prepared in accordance with GAAP and include our accounts and those of the consolidated subsidiaries in which we have a controlling financial interest. All intercompany balances and transactions have been eliminated in consolidation. Investments in unconsolidated joint ventures in which we have less than a controlling financial interest are accounted for using the equity method.
Use of Estimates	Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make informed estimates and judgments that affect the amounts reported in our consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash. We consider all highly liquid short-term investments purchased with an original maturity of three months or less to be cash equivalents.
Property and Equipment and Depreciation	Property and Equipment and Depreciation. Property and equipment are recorded at cost and are depreciated over their estimated useful lives, which generally range from two to 10 years, using the straight-line method. Repair and maintenance costs are expensed as incurred.
Homebuilding Operations	Homebuilding Operations. Revenues from housing and other real estate sales are recognized when sales are closed and title passes to the buyer. Sales are closed when all of the following conditions are met: a sale is consummated, a sufficient down payment is received, the earnings process is complete and the collection of any remaining receivables is reasonably assured. Concurrent with the recognition of revenues in our consolidated statements of operations, sales incentives in the form of price concessions on the selling price of a home are recorded as a reduction of revenues, while the cost of sales incentives in the form of free products or services to homebuyers, including option upgrades and closing cost allowances used to cover a portion of the fees and costs charged to a homebuyer, is reflected as construction and land costs. Construction and land costs are comprised of direct and allocated costs, including estimated future costs for the limited warranty we provide on our homes and certain amenities within a community. Land acquisition, land development and other common costs are generally allocated on a relative fair value basis to the homes or lots within the applicable community or land parcel. Land acquisition and land development costs include related interest and real estate taxes. H ousing and land inventories are stated at cost, unless the carrying value is determined not to be recoverable, in which case the affected inventories are written down to fair value or fair value less costs to sell. Real estate assets, such as our housing and land inventories, are tested for recoverability whenever events or changes in circumstances indicate that their carrying value may not be recoverable. Recoverability is measured by comparing the carrying value of an asset to the undiscounted future net cash flows expected to be generated by the asset. These impairment evaluations are significantly impacted by estimates for the amounts and timing of future revenues, costs and expenses, and other factors. If the carrying value of real estate assets is determined not to be recoverable, the impairment charge to be recognized is measured by the amount by which the carrying value of the affected asset exceeds its estimated fair value. For land held for sale, if the fair value less costs to sell exceeds the asset’s carrying value, no impairment charge is recognized.
Capitalized Interest	Capitalized Interest. Interest is capitalized to inventories while the related communities are being actively developed and until homes are completed. Capitalized interest is amortized to construction and land costs as the related inventories are delivered to homebuyers or land buyers (as applicable). For land held for future development, applicable interest is expensed as incurred.
Fair Value Measurements	Fair Value Measurements. Fair value measurements are used for inventories on a nonrecurring basis when events and circumstances indicate that their carrying value is not recoverable. Fair value is determined based on estimated future net cash flows discounted for inherent risks associated with the real estate assets, or other valuation techniques. Our financial instruments consist of cash and cash equivalents, restricted cash, senior notes, convertible senior notes, and mortgages and land contracts due to land sellers and other loans. Fair value measurements of financial instruments are determined by various market data and other valuation techniques as appropriate. When available, we use quoted market prices in active markets to determine fair value.
Warranty Costs	Warranty Costs. We provide a limited warranty on all of our homes. We estimate the costs that may be incurred under each limited warranty and record a liability in the amount of such costs at the time the revenue associated with the sale of each home is recognized. Our primary assumption in estimating the amounts we accrue for warranty costs is that historical claims experience is a strong indicator of future claims experience. Factors that affect our warranty liability include the number of homes delivered, historical and anticipated rates of warranty claims, and cost per claim. We periodically assess the adequacy of our accrued warranty liability and adjust the amount as necessary based on our assessment.
Self-Insurance	Self-Insurance. We self-insure a portion of our overall risk through the use of a captive insurance subsidiary. We also maintain certain other insurance policies. We record expenses and liabilities based on the estimated costs required to cover our self-insured retention and deductible amounts under our insurance policies, and the estimated costs of potential claims and claim adjustment expenses that are above our coverage limits or that are not covered by our insurance policies. These estimated costs are based on an analysis of our historical claims and industry data, and include an estimate of construction defect claims incurred but not yet reported. We engage a third-party actuary that uses our historical claim and expense data, as well as industry data, to estimate our liabilities related to unpaid claims, claim adjustment expenses, third-party recoveries and incurred but not yet reported claims associated with the risks that we are assuming with respect to our self-insurance and insurance policy deductibles. The projection of losses related to these liabilities requires actuarial assumptions that are subject to variability due to uncertainties regarding construction defect claims relative to differences in our markets and the types of product we build, insurance industry practices and legal or regulatory interpretations, among other factors. Key assumptions used in these estimates include claim frequencies, severities and settlement patterns, which can occur over an extended period of time.
Advertising Costs	Advertising Costs. We expense advertising costs as incurred.
Legal Fees	Legal Fees. Legal fees associated with litigation and similar proceedings that are not expected to provide a benefit in future periods are generally expensed as incurred. Legal fees associated with land acquisition and development and other activities that are expected to provide a benefit in future periods are capitalized as incurred in our consolidated balance sheets.
Stock-Based Compensation	Stock-Based Compensation. We measure and recognize compensation expense associated with our grant of equity-based awards at an amount equal to the fair value of share-based payments granted under compensation arrangements over the vesting period. We estimate the fair value of stock options and SARs granted using the Black-Scholes option-pricing model with assumptions based primarily on historical data. We report the tax benefit resulting from tax deductions in excess of the compensation expense recognized for stock options and SARs in our consolidated statements of cash flows as an operating cash outflow and a financing cash inflow.
Income Taxes	Income Taxes. The provision for, or benefit from, income taxes is calculated using the asset and liability method, under which deferred tax assets and liabilities are recorded based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are evaluated on a quarterly basis to determine if adjustments to the valuation allowance are required. This evaluation is based on the consideration of all available positive and negative evidence using a “more likely than not” standard with respect to whether deferred tax assets will be realized. The ultimate realization of our deferred tax assets depends primarily on our ability to generate future taxable income during the periods in which the related temporary differences in the financial basis and the tax basis of the assets become deductible. The value of our deferred tax assets depends on applicable income tax rates.
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss. The accumulated balances of other comprehensive loss in the consolidated balance sheets as of November 30, 2015 and 2014 were comprised solely of adjustments recorded directly to accumulated other comprehensive loss related to our benefit plan obligations. Such adjustments are made annually as of November 30, when our benefit plan obligations are remeasured.
Earnings (Loss) Per Share	Earnings Per Share. We compute earnings per share using the two-class method, which is an allocation of earnings between the holders of common stock and a company’s participating security holders. Our outstanding nonvested shares of restricted stock contain non-forfeitable rights to dividends and, therefore, are considered participating securities for purposes of computing earnings per share pursuant to the two-class method. We had no other participating securities at November 30, 2015 , 2014 or 2013 .
Recent accounting pronouncements	Recent Accounting Pronouncements. In April 2014, the FASB issued Accounting Standards Update No. 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity” (“ASU 2014-08”), which raises the threshold for a disposal to qualify as a discontinued operation and requires new disclosures of both discontinued operations and certain other disposals that do not meet the new definition of a discontinued operation. It also allows an entity to present a discontinued operation even when it has continuing cash flows and significant continuing involvement with the disposed component. The amendments in ASU 2014-08 are effective prospectively for disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years. Early adoption is permitted but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. We believe the adoption of this guidance will not have a material effect on our consolidated financial statements. In May 2014, the FASB issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Companies may use either a full retrospective or a modified retrospective approach to adopt ASU 2014-09. In August 2015, the FASB issued Accounting Standards Update No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” which delayed the effective date of ASU 2014-09 by one year. ASU 2014-09, as amended, is effective for public companies for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. In June 2014, the FASB issued Accounting Standards Update No. 2014-12, “Compensation — Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period” (“ASU 2014-12”). The amendments in ASU 2014-12 require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in ASC 718, as it relates to awards with performance conditions that affect vesting to account for such awards. The amendments in ASU 2014-12 are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Early adoption is permitted. Entities may apply the amendments in ASU 2014-12 either: (a) prospectively to all awards granted or modified after the effective date; or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. We believe the adoption of this guidance will not have a material effect on our consolidated financial statements. In August 2014, the FASB issued Accounting Standards Update No. 2014-15, “Presentation of Financial Statements — Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern” (“ASU 2014-15”), which requires management to evaluate, in connection with preparing financial statements for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or within one year after the date that the financial statements are available to be issued when applicable) and provide related disclosures. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual and interim periods thereafter. Early adoption is permitted. We believe the adoption of this guidance will not have a material effect on our consolidated financial statements. In January 2015, the FASB issued Accounting Standards Update No. 2015-01, “Income Statement — Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items” (“ASU 2015-01”). ASU 2015-01 eliminates the concept of extraordinary items from GAAP but retains the presentation and disclosure guidance for items that are unusual in nature or occur infrequently and expands the guidance to include items that are both unusual in nature and infrequently occurring. ASU 2015-01 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. A reporting entity may apply ASU 2015-01 prospectively. A reporting entity may also apply ASU 2015-01 retrospectively to all periods presented in the financial statements. We believe the adoption of this guidance will not have a material effect on our consolidated financial statements. In February 2015, the FASB issued Accounting Standards Update No. 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis” (“ASU 2015-02”). ASU 2015-02 changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. ASU 2015-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. We believe the adoption of this guidance will not have a material effect on our consolidated financial statements. In April 2015, the FASB issued Accounting Standards Update No. 2015-03, “Interest — Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-03”). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. For public entities, ASU 2015-03 is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted for financial statements that have not been previously issued. ASU 2015-03 is to be applied on a retrospective basis and represents a change in accounting principle. We believe the adoption of this guidance will not have a material effect on our consolidated financial statements. In August 2015, the FASB issued Accounting Standards Update No. 2015-15, “Interest — Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements — Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting” (“ASU 2015-15”), which clarifies the treatment of debt issuance costs from line-of-credit arrangements after the adoption of ASU 2015-03. In particular, ASU 2015-15 clarifies that the SEC staff would not object to an entity deferring and presenting debt issuance costs related to a line-of-credit arrangement as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of such arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. We believe the adoption of this guidance will not have a material effect on our consolidated financial statements.
Reclassifications	Reclassifications. Certain amounts in our consolidated financial statements of prior years have been reclassified to conform to the current period presentation.
Segment Reporting	As of November 30, 2015 , we had identified five operating reporting segments, comprised of four homebuilding reporting segments and one financial services reporting segment, within our consolidated operations. As of November 30, 2015 , our homebuilding reporting segments conducted ongoing operations in the following states: West Coast: California Southwest: Arizona and Nevada Central: Colorado and Texas Southeast: Florida, Maryland, North Carolina and Virginia 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, 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 homebuilding reporting segments were identified based primarily on similarities in economic and geographic characteristics, product types, regulatory environments, methods used to sell and construct homes and land acquisition characteristics. We evaluate segment performance primarily based on segment pretax results. 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 Central and Southeast homebuilding reporting segments. This segment earns revenues primarily from insurance commissions and from the provision of title services. Prior to July 21, 2014, this segment also earned revenues pursuant to the terms of a marketing services agreement with Nationstar, under which Nationstar was our preferred mortgage lender and offered mortgage banking services, including mortgage loan originations, to our homebuyers who elected to use the lender. Since July 21, 2014, we have offered mortgage banking services, including mortgage loan originations, to our homebuyers indirectly through HCM, a joint venture of a subsidiary of ours and a subsidiary of Nationstar. Through these respective subsidiaries, we have a 49.9% ownership interest and Nationstar has a 50.1% ownership interest in HCM, with Nationstar providing management oversight of HCM’s operations. Our homebuyers may select any lender of their choice to obtain mortgage financing for the purchase of a home. Corporate and other is a non-operating segment that develops and oversees the implementation of company-wide strategic initiatives and provides support to our reporting segments by centralizing certain administrative functions. Corporate and other includes general and administrative expenses related to operating our corporate headquarters. A portion of the expenses incurred by Corporate and other is allocated to our homebuilding reporting segments. Our segments follow the same accounting policies used for our consolidated financial statements as described in Note 1. Summary of Significant Accounting Policies. The results of each 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.
Inventory Impairment	E ach community or land parcel in our owned inventory is assessed to determine if indicators of potential impairment exist. Impairment indicators are assessed separately for each community or land parcel on a quarterly basis and include, but are not limited to, the following: significant decreases in net orders, average selling prices, volume of homes delivered, gross profit margins on homes delivered or projected gross profit margins on homes in backlog or future deliveries; significant increases in budgeted land development and home construction costs or cancellation rates; or projected losses on expected future land sales. If indicators of potential impairment exist for a community or land parcel, the identified asset is evaluated for recoverability.
Land under Option Arrangements	Our inventory controlled under land option contracts and other similar contracts is assessed to determine whether it continues to meet our internal investment and marketing standards. Assessments are made separately for each optioned land parcel on a quarterly basis and are affected by the following factors relative to the market in which the asset is located, among others: current and/or anticipated net orders, average selling prices and volume of homes delivered; estimated land development and home construction costs; and projected profitability on expected future housing or land sales. When a decision is made not to exercise certain land option contracts and other similar contracts due to market conditions and/or changes in our marketing strategy, we write off the related inventory costs, including non-refundable deposits and unrecoverable pre-acquisition costs. Based on the re
Financial services [Member]
Segment Reporting Information [Line Items]
Operations	Financial Services Operations. Our financial services reporting segment generates revenues primarily from insurance commissions and title services. These operations also earned marketing services fees, pursuant to a marketing services agreement with a preferred lender, until July 21, 2014. Marketing services fees were recognized when earned. Insurance commissions are recognized when policies are issued. Title services revenues are recorded when closing services are rendered and title insurance policies are issued, both of which generally occur at the time each applicable home is closed.

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Nov. 30, 2015
Segment Reporting [Abstract]
Financial information relating to company reporting segments	The following tables present financial information relating to our segments (in thousands): Years Ended November 30, 2015 2014 2013 Revenues: West Coast $ 1,402,264 $ 1,089,857 $ 1,020,218 Southwest 398,242 199,504 175,252 Central 809,738 698,429 565,120 Southeast 410,743 401,853 324,388 Total homebuilding revenues 3,020,987 2,389,643 2,084,978 Financial services 11,043 11,306 12,152 Total $ 3,032,030 $ 2,400,949 $ 2,097,130 Pretax income (loss): West Coast $ 127,946 $ 116,325 $ 118,264 Southwest 31,718 6,015 2,903 Central 70,959 47,214 22,275 Southeast (22,758 ) (11,158 ) (45,992 ) Corporate and other (92,446 ) (71,993 ) (69,271 ) Total homebuilding pretax income 115,419 86,403 28,179 Financial services 11,624 8,546 10,184 Total $ 127,043 $ 94,949 $ 38,363 Equity in income (loss) of unconsolidated joint ventures: West Coast $ (1,106 ) $ (374 ) $ (148 ) Southwest (696 ) (2,176 ) (2,355 ) Central — — — Southeast (2 ) 3,291 496 Total $ (1,804 ) $ 741 $ (2,007 ) Inventory impairment charges: West Coast $ 645 $ 27,285 $ — Southwest 3,253 6,392 — Central — — — Southeast 4,132 3,951 391 Total $ 8,030 $ 37,628 $ 391 Years Ended November 30, 2015 2014 2013 Land option contract abandonments: West Coast $ 352 $ 554 $ 3,190 Southwest — — — Central 225 995 — Southeast 984 254 — Total $ 1,561 $ 1,803 $ 3,190 November 30, 2015 2014 Inventories: Homes under construction West Coast $ 535,795 $ 536,843 Southwest 112,032 65,647 Central 263,345 201,164 Southeast 120,184 124,618 Subtotal 1,031,356 928,272 Land under development West Coast 788,607 765,577 Southwest 317,331 334,691 Central 421,783 363,933 Southeast 238,324 245,948 Subtotal 1,766,045 1,710,149 Land held for future development West Coast 277,954 294,060 Southwest 104,677 138,367 Central 22,082 22,957 Southeast 111,633 124,582 Subtotal 516,346 579,966 Total $ 3,313,747 $ 3,218,387 Investments in unconsolidated joint ventures: West Coast $ 54,360 $ 59,552 Southwest 14,697 17,388 Central — — Southeast 2,501 2,501 Total $ 71,558 $ 79,441 November 30, 2015 2014 Assets: West Coast $ 1,740,299 $ 1,695,753 Southwest 582,030 579,201 Central 829,811 678,139 Southeast 507,844 531,011 Corporate and other 1,341,359 1,262,960 Total homebuilding assets 5,001,343 4,747,064 Financial services 14,028 10,486 Total $ 5,015,371 $ 4,757,550

Financial Services (Tables)

Financial Services (Tables)	12 Months Ended
	Nov. 30, 2015
Segment Reporting Information [Line Items]
Financial services income loss	The following tables present financial information relating to our financial services reporting segment (in thousands): Years Ended November 30, 2015 2014 2013 Revenues Insurance commissions $ 7,137 $ 6,566 $ 7,177 Title services 3,905 3,593 3,172 Marketing services fees — 1,147 1,800 Interest income 1 — 3 Total 11,043 11,306 12,152 Expenses General and administrative (3,711 ) (3,446 ) (3,042 ) Operating income 7,332 7,860 9,110 Equity in income of unconsolidated joint ventures 4,292 686 1,074 Pretax income $ 11,624 $ 8,546 $ 10,184
Financial services [Member]
Segment Reporting Information [Line Items]
Financial services assets liabilities	November 30, 2015 2014 Assets Cash and cash equivalents $ 1,299 $ 2,402 Receivables 2,245 1,738 Investments in unconsolidated joint ventures 10,440 6,149 Other assets 44 197 Total assets $ 14,028 $ 10,486 Liabilities Accounts payable and accrued expenses $ 1,817 $ 2,517 Total liabilities $ 1,817 $ 2,517

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Nov. 30, 2015
Earnings Per Share [Abstract]
Basic and diluted loss per share	Basic and diluted earnings per share were calculated as follows (in thousands, except per share amounts): Years Ended November 30, 2015 2014 2013 Numerator: Net income $ 84,643 $ 918,349 $ 39,963 Less: Distributed earnings allocated to nonvested restricted stock (33 ) (26 ) (24 ) Less: Undistributed earnings allocated to nonvested restricted stock (273 ) (2,667 ) (90 ) Numerator for basic earnings per share 84,337 915,656 39,849 Effect of dilutive securities: Interest expense and amortization of debt issuance costs associated with convertible senior notes, net of taxes 2,667 2,667 2,230 Add: Undistributed earnings allocated to nonvested restricted stock 273 2,667 90 Less: Undistributed earnings reallocated to nonvested restricted stock (244 ) (2,398 ) (81 ) Numerator for diluted earnings per share $ 87,033 $ 918,592 $ 42,088 Denominator: Weighted average shares outstanding — basic 92,054 89,265 82,630 Effect of dilutive securities: Share-based payments 2,401 1,647 1,885 Convertible senior notes 8,402 8,402 7,044 Weighted average shares outstanding — diluted 102,857 99,314 91,559 Basic earnings per share $ .92 $ 10.26 $ .48 Diluted earnings per share $ .85 $ 9.25 $ .46

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Nov. 30, 2015
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following (in thousands): November 30, 2015 2014 Homes under construction $ 1,031,356 $ 928,272 Land under development 1,766,045 1,710,149 Land held for future development 516,346 579,966 Total $ 3,313,747 $ 3,218,387
Interest costs	Our interest costs were as follows (in thousands): Years Ended November 30, 2015 2014 2013 Capitalized interest at beginning of year $ 266,668 $ 216,681 $ 217,684 Interest incurred (a) 186,885 171,541 149,101 Interest expensed (a) (21,856 ) (30,750 ) (62,690 ) Interest amortized to construction and land costs (b) (143,255 ) (90,804 ) (87,414 ) Capitalized interest at end of year (c) $ 288,442 $ 266,668 $ 216,681 (a) Amounts for the year ended November 30, 2013 included losses on the early extinguishment of debt of $10.4 million associated with the purchase and retirement of certain senior notes ahead of their maturity. (b) Interest amortized to construction and land costs for the year ended November 30, 2015 included $16.4 million related to land sales during the period. (c) Capitalized interest amounts presented in the table reflect the gross amount of capitalized interest, as inventory impairment charges recognized, if any, are not generally allocated to specific components of inventory.

Inventory Impairments and Lan37

Inventory Impairments and Land Option Contract Abandonments (Tables)	12 Months Ended
	Nov. 30, 2015
Inventory Impairments and Land Option Contract Abandonments [Abstract]
Schedule of significant unobservable inputs	The following table summarizes ranges for significant quantitative unobservable inputs we utilized in our fair value measurements with respect to impaired communities, other than land held for sale, written down to fair value during the years presented: Years Ended November 30, Unobservable Input (a) 2015 2014 2013 Average selling price $178,100 - $509,400 $216,100 - $316,800 $339,700 Deliveries per month 2 - 4 1 - 4 1 Discount rate 17% - 20% 17% - 19% 17% (a) The ranges of inputs used in each period primarily reflect differences between the housing markets where each of the impacted communities or land parcels are located, rather than fluctuations in prevailing market conditions.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Nov. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The following table presents a summary of our interests in land option contracts and other similar contracts (in thousands): November 30, 2015 November 30, 2014 Cash Deposits Aggregate Purchase Price Cash Deposits Aggregate Purchase Price Unconsolidated VIEs $ 32,436 $ 611,567 $ 10,633 $ 520,628 Other land option contracts and other similar contracts 22,101 576,140 22,426 437,842 Total $ 54,537 $ 1,187,707 $ 33,059 $ 958,470

Investments in Unconsolidated39

Investments in Unconsolidated Joint Ventures (Tables)	12 Months Ended
	Nov. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Statements of operations of unconsolidated joint ventures	The following table presents combined condensed information from the statements of operations of our unconsolidated joint ventures (in thousands): Years Ended November 30, 2015 2014 2013 Revenues $ 15,322 $ 12,538 $ 17,446 Construction and land costs (23,123 ) (10,790 ) (10,709 ) Other expenses, net (3,360 ) (1,476 ) (4,042 ) Income (loss) $ (11,161 ) $ 272 $ 2,695
Balance sheets of unconsolidated joint ventures	The following table presents combined condensed balance sheet information for our unconsolidated joint ventures (in thousands): November 30, 2015 2014 Assets Cash $ 23,309 $ 23,699 Receivables 7,546 5,106 Inventories 175,196 153,427 Other assets 910 — Total assets $ 206,961 $ 182,232 Liabilities and equity Accounts payable and other liabilities $ 17,108 $ 10,824 Notes payable (a) 39,064 — Equity 150,789 171,408 Total liabilities and equity $ 206,961 $ 182,232 (a) In August 2015, one of our unconsolidated joint ventures entered into a construction loan agreement with a third-party lender to finance its land development activities that is secured by the underlying property and related project assets. The unconsolidated joint venture’s outstanding secured debt is non-recourse to us and is scheduled to mature in August 2018. None of our other unconsolidated joint ventures had outstanding debt at November 30, 2015 . None of our unconsolidated joint ventures had outstanding debt at November 30, 2014.
Information related investments in unconsolidated joint ventures	The following table presents additional information relating to our investments in unconsolidated joint ventures (dollars in thousands): November 30, 2015 2014 Number of investments in unconsolidated joint ventures 7 6 Investments in unconsolidated joint ventures $ 71,558 $ 79,441 Number of unconsolidated joint venture lots controlled under land option contracts and other similar contracts 677 618

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Nov. 30, 2015
Other Assets [Abstract]
Other Assets	Other assets consisted of the following (in thousands): November 30, 2015 2014 Cash surrender value of insurance contracts $ 67,786 $ 70,571 Debt issuance costs 25,408 27,082 Property and equipment, net 13,100 11,831 Prepaid expenses 6,480 5,431 Total $ 112,774 $ 114,915

Accrued Expenses and Other Li41

Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Nov. 30, 2015
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consisted of the following (in thousands): November 30, 2015 2014 Inventory-related obligations (a) $ 148,887 $ 52,009 Employee compensation and related benefits 114,456 113,875 Self-insurance and other litigation liabilities 96,496 89,606 Accrued interest payable 62,645 63,275 Warranty liability 49,085 45,196 Customer deposits 14,563 15,197 Real estate and business taxes 14,255 13,684 Other 13,027 17,040 Total $ 513,414 $ 409,882 (a) Represents liabilities for inventory not owned associated with financing arrangements discussed in Note 8. Variable Interest Entities, as well as liabilities for fixed or determinable amounts associated with TIFE assessments. As homes are delivered, the obligation to pay the remaining TIFE assessments associated with each underlying lot is transferred to the homebuyer. As such, these assessment obligations will be paid by us only to the extent we do not deliver homes on applicable lots before the related TIFE obligations mature.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Nov. 30, 2015
Income Tax Disclosure [Abstract]
Component of income tax benefit (expense) in the consolidated statement of operations	The components of the income tax benefit (expense) in our consolidated statements of operations are as follows (in thousands): Federal State Total 2015 Current $ (1,400 ) $ (2,000 ) $ (3,400 ) Deferred (35,900 ) (3,100 ) (39,000 ) Income tax expense $ (37,300 ) $ (5,100 ) $ (42,400 ) 2014 Current $ 100 $ (1,900 ) $ (1,800 ) Deferred 646,000 179,200 825,200 Income tax benefit $ 646,100 $ 177,300 $ 823,400 2013 Current $ — $ 1,600 $ 1,600 Deferred — — — Income tax benefit $ — $ 1,600 $ 1,600
Components of deferred tax liabilities and assets	Significant components of our deferred tax liabilities and assets are as follows (in thousands): November 30, 2015 2014 Deferred tax liabilities: Capitalized expenses $ 110,408 $ 103,196 State taxes 68,866 72,258 Other 196 310 Total 179,470 175,764 Deferred tax assets: NOLs from 2006 through 2015 423,274 459,393 Tax credits 186,169 176,234 Inventory impairments and land option contract abandonments 179,828 229,264 Employee benefits 93,395 82,776 Warranty, legal and other accruals 49,655 42,621 Capitalized expenses 34,887 24,155 Partnerships and joint ventures 18,557 15,672 Depreciation and amortization 9,146 9,022 Other 4,537 3,009 Total 999,448 1,042,146 Valuation allowance (37,782 ) (41,150 ) Total 961,666 1,000,996 Deferred tax assets, net $ 782,196 $ 825,232
Income tax benefit computed at the statutory U.S. federal income tax rate and income tax benefit (expense) provided in the consolidated statements of operations	The income tax benefit (expense) computed at the statutory U.S. federal income tax rate and the income tax benefit (expense) provided in our consolidated statements of operations differ as follows (dollars in thousands): Years Ended November 30, 2015 2014 2013 $ % $ % $ % Income tax expense computed at statutory rate $ (44,462 ) (35.0 )% $ (33,232 ) (35.0 )% $ (13,427 ) (35.0 )% Tax credits 8,220 6.5 2,884 3.0 2,675 7.0 Valuation allowance for deferred tax assets 3,356 2.6 825,232 869.1 20,673 53.9 Depreciation and amortization 3,183 2.5 15,765 16.6 4,523 11.8 Basis in joint ventures 1,617 1.3 10,441 11.0 (9,598 ) (25.0 ) Inventory impairments (1,701 ) (1.3 ) — — 2,827 7.4 Reserve and deferred income (2,259 ) (1.8 ) — — (1,808 ) (4.7 ) NOL reconciliation (3,379 ) (2.7 ) 12,973 13.7 (3,806 ) (9.9 ) State taxes, net of federal income tax benefit (5,155 ) (4.1 ) (13,907 ) (14.7 ) (1,947 ) (5.1 ) Capitalized expenses — — 1,249 1.3 — — Recognition of federal and state tax benefits — — 59 .1 1,600 4.2 Other, net (1,820 ) (1.4 ) 1,936 2.1 (112 ) (.3 ) Income tax benefit (expense) $ (42,400 ) (33.4 )% $ 823,400 867.2 % $ 1,600 4.3 %
Reconciliation of the beginning and ending balances of the gross unrecognized benefits	A reconciliation of the beginning and ending balances of gross unrecognized tax benefits, excluding interest and penalties, is as follows (in thousands): Years Ended November 30, 2015 2014 2013 Balance at beginning of year $ 206 $ 206 $ 1,671 Reductions due to lapse of statute of limitations (150 ) — (1,465 ) Balance at end of year $ 56 $ 206 $ 206

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Nov. 30, 2015
Debt Instrument [Line Items]
Mortgages and Notes Payable	The key terms of each of our senior notes outstanding as of November 30, 2015 were as follows (dollars in thousands): Redeemable Prior to Maturity Effective Interest Rate Notes Payable Principal Issuance Date Maturity Date 9.10% Senior notes $ 265,000 July 30, 2009 September 15, 2017 Yes (a) 9.5 % 7 1/4% Senior notes 300,000 April 3, 2006 June 15, 2018 Yes (a) 7.3 4.75% Senior notes 400,000 March 25, 2014 May 15, 2019 Yes (b) 4.8 8.00% Senior notes 350,000 February 7, 2012 March 15, 2020 Yes (a) 8.3 7.00% Senior notes 450,000 October 29, 2013 December 15, 2021 Yes (b) 7.0 7.50% Senior notes 350,000 July 31, 2012 September 15, 2022 Yes (a) 7.5 7.625% Senior notes 250,000 February 17, 2015 May 15, 2023 Yes (b) 7.6 1.375% Convertible senior notes 230,000 January 29, 2013 February 1, 2019 Yes (c) 1.4 (a) At our option, these notes may be redeemed, in whole at any time or from time to time in part, at a redemption price equal to the greater of (i) 100% of the principal amount of the notes being redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed (exclusive of interest accrued to the applicable redemption date), discounted to the redemption date at a defined rate, plus, in each case, accrued and unpaid interest on the notes being redeemed to the applicable redemption date. (b) At our option, these notes may be redeemed, in whole at any time or from time to time in part, at a redemption price equal to the greater of (i) 100% of the principal amount of the notes being redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed (exclusive of interest accrued to the applicable redemption date), discounted to the redemption date at a defined rate, plus, in each case, accrued and unpaid interest on the notes being redeemed to, but excluding, the applicable redemption date, except that three months prior to the stated maturity dates for the 4.75% Senior Notes due 2019 and the 7.00% Senior Notes due 2021 and until their respective maturity, and six months prior to the stated maturity date for the 7.625% Senior Notes due 2023 and until their maturity, the redemption price will be equal to 100% of the principal amount of the notes being redeemed, plus, in each case, accrued and unpaid interest on the notes being redeemed to, but excluding, the applicable redemption date. (c) We may not redeem the notes prior to November 6, 2018. On or after November 6, 2018, and prior to the stated maturity date, we may, at our option, redeem all or part of the notes at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest to, but excluding the redemption date. Notes payable consisted of the following (in thousands): November 30, 2015 2014 Mortgages and land contracts due to land sellers and other loans (at interest rates of 4% to 7% at November 30, 2015 and 5% to 7% at November 30, 2014) $ 35,664 $ 38,250 6 1/4% Senior notes due June 15, 2015 — 199,891 9.10% Senior notes due September 15, 2017 263,475 262,729 7 1/4% Senior notes due June 15, 2018 299,554 299,402 4.75% Senior notes due May 15, 2019 400,000 400,000 8.00% Senior notes due March 15, 2020 346,843 346,253 7.00% Senior notes due December 15, 2021 450,000 450,000 7.50% Senior notes due September 15, 2022 350,000 350,000 7.625% Senior notes due May 15, 2023 250,000 — 1.375% Convertible senior notes due February 1, 2019 230,000 230,000 Total $ 2,625,536 $ 2,576,525

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	12 Months Ended
	Nov. 30, 2015
Fair Value Disclosures [Abstract]
Assets measured at fair value on a nonrecurring basis	The following table presents the fair value hierarchy and our assets measured at fair value on a nonrecurring basis (in thousands): For the Years Ended November 30, Description Fair Value Hierarchy 2015 2014 Inventories (a) Level 2 $ — $ 6,421 Inventories (a) Level 3 11,988 24,174 (a) Amounts represent the aggregate fair value for real estate assets impacted by inventory impairment charges during the period, as of the date that the fair value measurements were made. The carrying value for these real estate assets may have subsequently increased or decreased from the fair value reflected due to activity that has occurred since the measurement date.
Carrying values and estimated fair values of financial instruments	The following table presents the fair value hierarchy, carrying values and estimated fair values of our financial instruments, except those for which the carrying values approximate fair values (in thousands): November 30, 2015 2014 Fair Value Hierarchy Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Liabilities: Senior notes Level 2 $ 2,359,872 $ 2,429,850 $ 2,308,275 $ 2,468,852 Convertible senior notes Level 2 230,000 211,313 230,000 229,713

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Nov. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	The changes in our warranty liability are as follows (in thousands): Years Ended November 30, 2015 2014 2013 Balance at beginning of year $ 45,196 $ 48,704 $ 47,822 Warranties issued 23,018 18,479 14,261 Payments (26,367 ) (39,458 ) (45,338 ) Adjustments (a) 7,238 17,471 31,959 Balance at end of year $ 49,085 $ 45,196 $ 48,704 (a) As discussed below, adjustments in 2015 and 2014 were primarily comprised of the reclassification of estimated minimum probable recoveries to receivables. Adjustments in 2014 also included a reclassification of estimated minimum probable recoveries to establish a separate accrual for a water intrusion-related inquiry. Adjustments in 2013 were comprised of charges associated with water intrusion-related issues in central and southwest Florida.
Schedule of Self-Insurance Liability	The changes in our self-insurance liability were as follows (in thousands): Years Ended November 30, 2015 2014 2013 Balance at beginning of year $ 86,574 $ 92,214 $ 93,349 Self-insurance expense (a) 18,590 13,491 8,239 Payments, net of recoveries (b) (22,989 ) (19,131 ) (9,374 ) Balance at end of year $ 82,175 $ 86,574 $ 92,214 (a) These expenses are included in selling, general and administrative expenses and are largely offset by contributions from independent subcontractors participating in the wrap-up policy. (b) Recoveries are reflected in the period we receive funds from independent subcontractors and/or their insurers.
Schedule of Future Minimum Rental Payments for Operating Leases	future minimum rental payments under operating leases, which primarily consist of office leases having initial or remaining noncancelable lease terms in excess of one year , are as follows (in thousands): Years Ending November 30, 2016 $ 7,552 2017 5,805 2018 4,924 2019 4,316 2020 3,417 Thereafter 9,442 Total minimum lease payments $ 35,456 Ren

Accumulated Other Comprehensi46

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Nov. 30, 2015
Equity [Abstract]
Changes in the balances of each component of accumulated other comprehensive loss	The following table presents the changes in the balances of each component of accumulated other comprehensive loss (in thousands): Postretirement Benefit Plan Adjustments Total Accumulated Other Comprehensive Loss Balance at November 30, 2013 $ (17,516 ) Other comprehensive loss before reclassifications (3,801 ) Amounts reclassified from accumulated other comprehensive loss 1,913 Income tax expense related to items of other comprehensive income (1,604 ) Other comprehensive loss, net of tax (3,492 ) Balance at November 30, 2014 (21,008 ) Other comprehensive income before reclassifications 3,745 Amounts reclassified from accumulated other comprehensive loss 2,404 Income tax expense related to items of other comprehensive income (2,460 ) Other comprehensive income, net of tax 3,689 Balance at November 30, 2015 $ (17,319 )
Amounts reclassified from accumulated other comprehensive loss	The amounts reclassified from accumulated other comprehensive loss consisted of the following (in thousands): Years Ended November 30, Details About Accumulated Other Comprehensive Loss Components 2015 2014 2013 Postretirement benefit plan adjustments Amortization of net actuarial loss $ 848 $ 357 $ 1,803 Amortization of prior service cost 1,556 1,556 1,556 Total reclassifications (a) $ 2,404 $ 1,913 $ 3,359 (a) The accumulated other comprehensive loss components are included in the computation of net periodic benefit costs as further discussed in Note 20. Postretirement Benefits.

Employee Benefit and Stock Pl47

Employee Benefit and Stock Plans (Tables)	12 Months Ended
	Nov. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Based Compensation Expense	The following table presents our stock-based compensation expense (in thousands): Years Ended November 30, 2015 2014 2013 Stock options (a) $ 7,576 $ 3,024 $ 2,285 Restricted stock 2,499 1,750 1,365 PSUs 5,404 3,699 2,049 Director awards 1,664 (91 ) 4,023 Total $ 17,143 $ 8,382 $ 9,722 (a) Compensation expense associated with stock options accelerated in 2015 as a result of retirement provisions being met for certain stock option recipients.
Stock option transactions	Stock option transactions are summarized as follows: Years Ended November 30, 2015 2014 2013 Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options outstanding at beginning of year 11,735,042 $ 20.45 10,531,938 $ 21.11 10,105,546 $ 21.27 Granted 1,262,000 14.92 1,273,647 14.62 550,000 16.63 Exercised (76,164 ) 9.69 (36,665 ) 7.92 (118,208 ) 13.46 Cancelled (285,234 ) 45.80 (33,878 ) 20.25 (5,400 ) 24.24 Options outstanding at end of year 12,635,644 $ 19.39 11,735,042 $ 20.45 10,531,938 $ 21.11 Options exercisable at end of year 10,389,722 $ 20.35 10,103,739 $ 21.32 9,414,935 $ 22.26 Options available for grant at end of year 1,544,195 3,514,077 746,043
Stock options outstanding and stock options exercisable	Stock options outstanding and stock options exercisable at November 30, 2015 are summarized as follows: Options Outstanding Options Exercisable Range of Exercise Price Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life $ 6.32 to $11.06 2,771,667 $ 8.33 5.4 2,771,667 $ 8.33 $11.07 to $14.95 3,166,036 14.49 7.7 1,088,448 13.89 $14.96 to $19.90 2,652,671 17.31 4.2 2,484,337 17.35 $19.91 to $33.92 2,092,746 26.99 2.1 2,092,746 26.99 $33.93 to $69.63 1,952,524 37.73 2.6 1,952,524 37.73 $ 6.32 to $69.63 12,635,644 $ 19.39 4.7 10,389,722 $ 20.35 3.8
Assumptions of Black-Scholes option-pricing model	The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions: Years Ended November 30, 2015 2014 2013 Risk-free interest rate 1.4 % 1.6 % 1.3 % Expected volatility factor 43.6 % 41.0 % 52.3 % Expected dividend yield .7 % .7 % .6 % Expected term 5 years 5 years 5 years
Restricted stock transactions	Restricted stock transactions are summarized as follows: Years Ended November 30, 2015 2014 2013 Shares Weighted Average per Share Grant Date Fair Value Shares Weighted Average per Share Grant Date Fair Value Shares Weighted Average per Share Grant Date Fair Value Outstanding at beginning of year 355,294 $ 15.81 219,628 $ 16.23 229,724 $ 15.81 Granted 285,006 15.19 219,835 15.34 88,000 17.50 Vested (204,663 ) 14.83 (73,908 ) 16.52 (91,312 ) 15.18 Cancelled (18,660 ) 15.45 (10,261 ) 18.55 (6,784 ) 17.24 Outstanding at end of year 416,977 $ 15.88 355,294 $ 15.81 219,628 $ 16.23
Schedule of Share Based Payments Performance Shares Activity	PSU transactions are summarized as follows: Years Ended November 30, 2015 2014 2013 Shares Weighted Average per Share Grant Date Fair Value Shares Weighted Average per Share Grant Date Fair Value Shares Weighted Average per Share Grant Date Fair Value Outstanding at beginning of year 628,209 $ 15.70 385,049 $ 16.39 227,049 $ 16.23 Granted 192,000 14.92 243,160 14.62 158,000 16.63 Outstanding at end of year 820,209 $ 15.52 628,209 $ 15.70 385,049 $ 16.39

Postretirement Benefits (Tables

Postretirement Benefits (Tables)	12 Months Ended
	Nov. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule of Net Benefit Costs	The net periodic benefit cost of our Retirement Plan and DBO Plan consisted of the following (in thousands): Years Ended November 30, 2015 2014 2013 Interest cost $ 2,270 $ 2,456 $ 2,078 Amortization of prior service cost 1,556 1,556 1,556 Service cost 1,142 1,184 1,504 Amortization of net actuarial loss 848 357 1,803 Total $ 5,816 $ 5,553 $ 6,941

Supplemental Disclosure to Co49

Supplemental Disclosure to Consolidated Statements of Cash Flows (Tables)	12 Months Ended
	Nov. 30, 2015
Supplemental Cash Flow Information [Abstract]
Supplemental disclosures to the consolidated statements of cash flows	The following are supplemental disclosures to the consolidated statements of cash flows (in thousands): Years Ended November 30, 2015 2014 2013 Summary of cash and cash equivalents at the end of the year: Homebuilding $ 559,042 $ 356,366 $ 530,095 Financial services 1,299 2,402 2,428 Total $ 560,341 $ 358,768 $ 532,523 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 22,486 $ 13,037 $ 64,520 Income taxes paid 3,612 1,619 800 Income taxes refunded 11 1,728 61 Supplemental disclosure of noncash activities: Reclassification of warranty recoveries to receivables $ 7,238 $ 18,110 $ — Increase (decrease) in consolidated inventories not owned 106,807 (5,755 ) 4,798 Increase in inventories due to distributions of land and land development from an unconsolidated joint venture 12,705 90,115 — Inventories and inventory-related obligations associated with TIFE assessments tied to distribution of land from an unconsolidated joint venture — 33,197 — Inventories acquired through seller financing 20,291 61,553 27,600 Conversion of liability awards to equity awards — 6,455 8,346

Supplemental Guarantor Inform50

Supplemental Guarantor Information (Tables)	12 Months Ended
	Nov. 30, 2015
Guarantees [Abstract]
Condensed Consolidating Statements of Operations	Condensed Consolidating Statements of Operations (in thousands) Year Ended November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenues $ — $ 2,653,372 $ 378,658 $ — $ 3,032,030 Homebuilding: Revenues $ — $ 2,653,372 $ 367,615 $ — $ 3,020,987 Construction and land costs — (2,209,472 ) (329,896 ) — (2,539,368 ) Selling, general and administrative expenses (86,053 ) (213,292 ) (43,653 ) — (342,998 ) Operating income (loss) (86,053 ) 230,608 (5,934 ) — 138,621 Interest income 451 6 1 — 458 Interest expense (180,701 ) (6,184 ) — 165,029 (21,856 ) Intercompany interest 289,727 (109,208 ) (15,490 ) (165,029 ) — Equity in loss of unconsolidated joint ventures — (1,803 ) (1 ) — (1,804 ) Homebuilding pretax income (loss) 23,424 113,419 (21,424 ) — 115,419 Financial services pretax income — — 11,624 — 11,624 Total pretax income (loss) 23,424 113,419 (9,800 ) — 127,043 Income tax benefit (expense) 2,000 (42,700 ) (1,700 ) — (42,400 ) Equity in net income of subsidiaries 59,219 — — (59,219 ) — Net income (loss) $ 84,643 $ 70,719 $ (11,500 ) $ (59,219 ) $ 84,643 Year Ended November 30, 2014 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenues $ — $ 2,031,564 $ 369,385 $ — $ 2,400,949 Homebuilding: Revenues $ — $ 2,031,564 $ 358,079 $ — $ 2,389,643 Construction and land costs — (1,673,916 ) (311,735 ) — (1,985,651 ) Selling, general and administrative expenses (68,717 ) (176,795 ) (42,511 ) — (288,023 ) Operating income (loss) (68,717 ) 180,853 3,833 — 115,969 Interest income 432 9 2 — 443 Interest expense (165,485 ) (6,056 ) — 140,791 (30,750 ) Intercompany interest 287,017 (127,191 ) (19,035 ) (140,791 ) — Equity in income (loss) of unconsolidated joint ventures — (2,549 ) 3,290 — 741 Homebuilding pretax income (loss) 53,247 45,066 (11,910 ) — 86,403 Financial services pretax income — — 8,546 — 8,546 Total pretax income (loss) 53,247 45,066 (3,364 ) — 94,949 Income tax benefit 215,691 551,203 56,506 — 823,400 Equity in net income of subsidiaries 649,411 — — (649,411 ) — Net income $ 918,349 $ 596,269 $ 53,142 $ (649,411 ) $ 918,349 Year Ended November 30, 2013 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenues $ — $ 1,792,040 $ 305,090 $ — $ 2,097,130 Homebuilding: Revenues $ — $ 1,792,040 $ 292,938 $ — $ 2,084,978 Construction and land costs — (1,480,822 ) (256,264 ) — (1,737,086 ) Selling, general and administrative expenses (60,545 ) (151,923 ) (43,340 ) — (255,808 ) Operating income (loss) (60,545 ) 159,295 (6,666 ) — 92,084 Interest income 768 18 6 — 792 Interest expense (143,902 ) (5,199 ) — 86,411 (62,690 ) Intercompany interest 203,096 (102,172 ) (14,513 ) (86,411 ) — Equity in income (loss) of unconsolidated joint ventures — (2,503 ) 496 — (2,007 ) Homebuilding pretax income (loss) (583 ) 49,439 (20,677 ) — 28,179 Financial services pretax income — — 10,184 — 10,184 Total pretax income (loss) (583 ) 49,439 (10,493 ) — 38,363 Income tax benefit (expense) 100 1,800 (300 ) — 1,600 Equity in net income of subsidiaries 40,446 — — (40,446 ) — Net income (loss) $ 39,963 $ 51,239 $ (10,793 ) $ (40,446 ) $ 39,963
Condensed Consolidating Statements of Comprehensive Income (Loss)	Condensed Consolidating Statements of Comprehensive Income (Loss) (in thousands) Year Ended November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income (loss) $ 84,643 $ 70,719 $ (11,500 ) $ (59,219 ) $ 84,643 Other comprehensive income: Postretirement benefit plan adjustments 6,149 — — — 6,149 Other comprehensive income before tax 6,149 — — — 6,149 Income tax expense related to items of other comprehensive income (2,460 ) — — — (2,460 ) Other comprehensive income, net of tax 3,689 — — — 3,689 Comprehensive income (loss) $ 88,332 $ 70,719 $ (11,500 ) $ (59,219 ) $ 88,332 Year Ended November 30, 2014 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income $ 918,349 $ 596,269 $ 53,142 $ (649,411 ) $ 918,349 Other comprehensive loss: Postretirement benefit plan adjustments (1,888 ) — — — (1,888 ) Other comprehensive loss before tax (1,888 ) — — — (1,888 ) Income tax expense related to items of other comprehensive income (1,604 ) — — — (1,604 ) Other comprehensive loss, net of tax (3,492 ) — — — (3,492 ) Comprehensive income $ 914,857 $ 596,269 $ 53,142 $ (649,411 ) $ 914,857 Year Ended November 30, 2013 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income (loss) $ 39,963 $ 51,239 $ (10,793 ) $ (40,446 ) $ 39,963 Other comprehensive income: Postretirement benefit plan adjustments 10,442 — — — 10,442 Other comprehensive income, net of tax 10,442 — — — 10,442 Comprehensive income (loss) $ 50,405 $ 51,239 $ (10,793 ) $ (40,446 ) $ 50,405
Condensed Consolidating Balance Sheets	Condensed Consolidating Balance Sheets (in thousands) November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Homebuilding: Cash and cash equivalents $ 444,850 $ 98,281 $ 15,911 $ — $ 559,042 Restricted cash 9,344 — — — 9,344 Receivables 39 148,338 4,305 — 152,682 Inventories — 2,979,617 334,130 — 3,313,747 Investments in unconsolidated joint ventures — 69,057 2,501 — 71,558 Deferred tax assets, net 190,770 501,454 89,972 — 782,196 Other assets 97,590 11,783 3,401 — 112,774 742,593 3,808,530 450,220 — 5,001,343 Financial services — — 14,028 — 14,028 Intercompany receivables 3,627,150 — 102,103 (3,729,253 ) — Investments in subsidiaries 39,383 — — (39,383 ) — Total assets $ 4,409,126 $ 3,808,530 $ 566,351 $ (3,768,636 ) $ 5,015,371 Liabilities and stockholders’ equity Homebuilding: Accounts payable, accrued expenses and other liabilities $ 136,352 $ 442,529 $ 118,303 $ — $ 697,184 Notes payable 2,564,762 60,774 — — 2,625,536 2,701,114 503,303 118,303 — 3,322,720 Financial services — — 1,817 — 1,817 Intercompany payables 17,178 3,305,227 406,848 (3,729,253 ) — Stockholders’ equity 1,690,834 — 39,383 (39,383 ) 1,690,834 Total liabilities and stockholders’ equity $ 4,409,126 $ 3,808,530 $ 566,351 $ (3,768,636 ) $ 5,015,371 November 30, 2014 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Homebuilding: Cash and cash equivalents $ 303,280 $ 37,112 $ 15,974 $ — $ 356,366 Restricted cash 27,235 — — — 27,235 Receivables 15 120,857 4,616 — 125,488 Inventories — 2,847,415 370,972 — 3,218,387 Investments in unconsolidated joint ventures — 76,940 2,501 — 79,441 Deferred tax assets, net 215,923 552,653 56,656 — 825,232 Other assets 99,099 13,136 2,680 — 114,915 645,552 3,648,113 453,399 — 4,747,064 Financial services — — 10,486 — 10,486 Intercompany receivables 3,582,612 — 112,919 (3,695,531 ) — Investments in subsidiaries 39,356 — — (39,356 ) — Total assets $ 4,267,520 $ 3,648,113 $ 576,804 $ (3,734,887 ) $ 4,757,550 Liabilities and stockholders’ equity Homebuilding: Accounts payable, accrued expenses and other liabilities $ 138,298 $ 317,550 $ 126,750 $ — $ 582,598 Notes payable 2,513,165 63,360 — — 2,576,525 2,651,463 380,910 126,750 — 3,159,123 Financial services — — 2,517 — 2,517 Intercompany payables 20,147 3,267,203 408,181 (3,695,531 ) — Stockholders’ equity 1,595,910 — 39,356 (39,356 ) 1,595,910 Total liabilities and stockholders’ equity $ 4,267,520 $ 3,648,113 $ 576,804 $ (3,734,887 ) $ 4,757,550
Condensed Consolidating Statements of Cash Flows	Condensed Consolidating Statements of Cash Flows (in thousands) Year Ended November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by operating activities $ 44,422 $ 125,068 $ 11,695 $ — $ 181,185 Cash flows from investing activities: Contributions to unconsolidated joint ventures — (20,625 ) (1 ) — (20,626 ) Return of investments in unconsolidated joint ventures — 14,000 — — 14,000 Purchases of property and equipment, net (2,890 ) (1,704 ) (83 ) — (4,677 ) Intercompany 45,470 — — (45,470 ) — Net cash provided by (used in) investing activities 42,580 (8,329 ) (84 ) (45,470 ) (11,303 ) Cash flows from financing activities: Change in restricted cash 17,891 — — — 17,891 Proceeds from issuance of debt 250,000 — — — 250,000 Payment of debt issuance costs (4,561 ) — — — (4,561 ) Repayment of senior notes (199,906 ) — — — (199,906 ) Payments on mortgages and land contracts due to land sellers and other loans — (22,877 ) — — (22,877 ) Issuance of common stock under employee stock plans 740 — — — 740 Excess tax benefits from stock-based compensation 157 — — — 157 Payments of cash dividends (9,186 ) — — — (9,186 ) Stock repurchases (567 ) — — — (567 ) Intercompany — (32,693 ) (12,777 ) 45,470 — Net cash provided by (used in) financing activities 54,568 (55,570 ) (12,777 ) 45,470 31,691 Net increase (decrease) in cash and cash equivalents 141,570 61,169 (1,166 ) — 201,573 Cash and cash equivalents at beginning of year 303,280 37,112 18,376 — 358,768 Cash and cash equivalents at end of year $ 444,850 $ 98,281 $ 17,210 $ — $ 560,341 Year Ended November 30, 2014 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by (used in) operating activities $ 82,629 $ (643,702 ) $ (69,618 ) $ — $ (630,691 ) Cash flows from investing activities: Contributions to unconsolidated joint ventures — (48,846 ) (251 ) — (49,097 ) Proceeds from sale of investment in unconsolidated joint venture — — 10,110 — 10,110 Purchases of property and equipment, net (208 ) (4,412 ) (1,175 ) — (5,795 ) Intercompany (794,624 ) — — 794,624 — Net cash provided by (used in) investing activities (794,832 ) (53,258 ) 8,684 794,624 (44,782 ) Cash flows from financing activities: Change in restricted cash 14,671 — — — 14,671 Proceeds from issuance of debt 400,000 — — — 400,000 Payment of debt issuance costs (5,448 ) — — — (5,448 ) Payments on mortgages and land contracts due to land sellers and other loans — (36,918 ) — — (36,918 ) Proceeds from issuance of common stock, net 137,045 — — — 137,045 Issuance of common stock under employee stock plans 1,896 — — — 1,896 Payments of cash dividends (8,982 ) — — — (8,982 ) Stock repurchases (546 ) — — — (546 ) Intercompany — 733,033 61,591 (794,624 ) — Net cash provided by financing activities 538,636 696,115 61,591 (794,624 ) 501,718 Net increase (decrease) in cash and cash equivalents (173,567 ) (845 ) 657 — (173,755 ) Cash and cash equivalents at beginning of year 476,847 37,957 17,719 — 532,523 Cash and cash equivalents at end of year $ 303,280 $ 37,112 $ 18,376 $ — $ 358,768 Year Ended November 30, 2013 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by (used in) operating activities $ 4,795 $ (457,390 ) $ 9,109 $ — $ (443,486 ) Cash flows from investing activities: Contributions to unconsolidated joint ventures — (9,334 ) (5,025 ) — (14,359 ) Purchases of property and equipment, net (519 ) (1,254 ) (618 ) — (2,391 ) Intercompany (517,803 ) — — 517,803 — Net cash used in investing activities (518,322 ) (10,588 ) (5,643 ) 517,803 (16,750 ) Cash flows from financing activities: Change in restricted cash 456 — — — 456 Proceeds from issuance of debt 680,000 — — — 680,000 Payment of debt issuance costs (16,525 ) — — — (16,525 ) Repayment of senior notes (225,394 ) — — — (225,394 ) Payments on mortgages and land contracts due to land sellers and other loans — (66,296 ) — — (66,296 ) Proceeds from issuance of common stock, net 109,503 — — — 109,503 Issuance of common stock under employee stock plans 2,181 — — — 2,181 Payments of cash dividends (8,366 ) — — — (8,366 ) Stock repurchases (8,488 ) — — — (8,488 ) Intercompany — 523,013 (5,210 ) (517,803 ) — Net cash provided by (used in) financing activities 533,367 456,717 (5,210 ) (517,803 ) 467,071 Net increase (decrease) in cash and cash equivalents 19,840 (11,261 ) (1,744 ) — 6,835 Cash and cash equivalents at beginning of year 457,007 49,218 19,463 — 525,688 Cash and cash equivalents at end of year $ 476,847 $ 37,957 $ 17,719 $ — $ 532,523

Quarterly Results (unaudited) (

Quarterly Results (unaudited) (Tables)	12 Months Ended
	Nov. 30, 2015
Quarterly Financial Information Disclosure [Abstract]
Consolidated quarterly results	The following tables present our consolidated quarterly results for the years ended November 30, 2015 and 2014 (in thousands, except per share amounts): First Quarter Second Quarter Third Quarter Fourth Quarter 2015 Revenues $ 580,121 $ 622,969 $ 843,157 $ 985,783 Gross profits 86,739 97,631 133,099 171,482 Pretax income 10,499 12,673 33,954 69,917 Net income 7,799 9,573 23,254 44,017 Earnings per share: Basic $ .08 $ .10 $ .25 $ .48 Diluted $ .08 $ .10 $ .23 $ .43 2014 Revenues $ 450,687 $ 565,007 $ 589,214 $ 796,041 Gross profits 80,561 107,595 108,931 114,765 Pretax income 10,763 26,924 28,661 28,601 Net income 10,563 26,624 28,361 852,801 Earnings per share: Basic $ .13 $ .30 $ .31 $ 9.25 Diluted $ .12 $ .27 $ .28 $ 8.36

Summary of Significant Accoun52

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Nov. 30, 2014	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Accounting Policies [Abstract]
Cash equivalents	$ 197,700	$ 342,300	$ 197,700
Restricted Cash and Cash Equivalents	27,235	9,344	27,235
Schedule of Equity Method Investments [Line Items]
Impairment of Real Estate	34,200	8,030	37,628	$ 391
Property and equipment amount	11,831	13,100	11,831
Accumulated depreciation	$ 15,000	15,300	15,000
Depreciation expense		3,411	2,420	1,857
Advertising costs incurred		33,400	30,200	25,300
Expensed legal fees		$ 11,700	10,900	$ 10,100
Minimum
Schedule of Equity Method Investments [Line Items]
Estimated useful life for depreciation of property and equipment		2 years
Maximum
Schedule of Equity Method Investments [Line Items]
Estimated useful life for depreciation of property and equipment		10 years
Land [Member]
Schedule of Equity Method Investments [Line Items]
Impairment of Real Estate		$ 0	$ 26,600

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Nov. 30, 2015USD ($)	Aug. 31, 2015USD ($)	May. 31, 2015USD ($)	Feb. 28, 2015USD ($)	Nov. 30, 2014USD ($)	Aug. 31, 2014USD ($)	May. 31, 2014USD ($)	Feb. 28, 2014USD ($)	Nov. 30, 2015USD ($)segment	Nov. 30, 2014USD ($)	Nov. 30, 2013USD ($)
Segment Reporting Information [Line Items]
Inventory, Homes under Construction	$ 1,031,356				$ 928,272				$ 1,031,356	$ 928,272
Inventory, Real Estate, Land and Land Development Costs	1,766,045				1,710,149				1,766,045	1,710,149
Inventory, Land Held for Development and Sale	516,346				579,966				516,346	579,966
Inventory, Operative Builders	3,313,747				3,218,387				$ 3,313,747	3,218,387
Number of Reportable Segments | segment									5
Revenues:
Revenues	985,783	$ 843,157	$ 622,969	$ 580,121	796,041	$ 589,214	$ 565,007	$ 450,687	$ 3,032,030	2,400,949	$ 2,097,130
Pretax income (loss):
Pretax income (loss)	69,917	$ 33,954	$ 12,673	$ 10,499	28,601	$ 28,661	$ 26,924	$ 10,763	127,043	94,949	38,363
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures									2,488	1,427	(933)
Impairment of Real Estate					34,200				8,030	37,628	391
Assets:
Total assets	5,015,371				4,757,550				5,015,371	4,757,550
Investments in unconsolidated joint ventures:
Investments in unconsolidated joint ventures	71,558				79,441				$ 71,558	79,441
Homebuilding [Member]
Segment Reporting Information [Line Items]
Number of Reportable Segments | segment									4
Revenues:
Revenues									$ 3,020,987	2,389,643	2,084,978
Pretax income (loss):
Pretax income (loss)									115,419	86,403	28,179
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures									(1,804)	741	(2,007)
Assets:
Total assets	5,001,343				4,747,064				$ 5,001,343	4,747,064
Financial services [Member]
Segment Reporting Information [Line Items]
Number of Reportable Segments | segment									1
Revenues:
Revenues									$ 11,043	11,306	12,152
Pretax income (loss):
Pretax income (loss)									11,624	8,546	10,184
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures									4,292	686	1,074
Assets:
Total assets	14,028				10,486				14,028	10,486
Investments in unconsolidated joint ventures:
Investments in unconsolidated joint ventures	$ 10,440				6,149				$ 10,440	6,149
Home Community Mortgage LLC [Member]
Segment Reporting Information [Line Items]
Ownership interest in joint venture	49.90%								49.90%
Corporate and Other [Member] | Homebuilding [Member]
Pretax income (loss):
Pretax income (loss)									$ (92,446)	(71,993)	(69,271)
Assets:
Total assets	$ 1,341,359				1,262,960				1,341,359	1,262,960
Central [Member]
Segment Reporting Information [Line Items]
Inventory, Homes under Construction	263,345				201,164				263,345	201,164
Inventory, Real Estate, Land and Land Development Costs	421,783				363,933				421,783	363,933
Inventory, Land Held for Development and Sale	22,082				22,957				22,082	22,957
Equity in income (loss) of unconsolidated joint ventures:
Impairment of Real Estate									0	0	0
Investments in unconsolidated joint ventures:
Investments in unconsolidated joint ventures	0				0				0	0
Central [Member] | Homebuilding [Member]
Revenues:
Revenues									809,738	698,429	565,120
Pretax income (loss):
Pretax income (loss)									70,959	47,214	22,275
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures									0	0	0
Assets:
Total assets	829,811				678,139				829,811	678,139
West Coast [Member]
Segment Reporting Information [Line Items]
Inventory, Homes under Construction	535,795				536,843				535,795	536,843
Inventory, Real Estate, Land and Land Development Costs	788,607				765,577				788,607	765,577
Inventory, Land Held for Development and Sale	277,954				294,060				277,954	294,060
Equity in income (loss) of unconsolidated joint ventures:
Impairment of Real Estate									645	27,285	0
Investments in unconsolidated joint ventures:
Investments in unconsolidated joint ventures	54,360				59,552				54,360	59,552
West Coast [Member] | Homebuilding [Member]
Revenues:
Revenues									1,402,264	1,089,857	1,020,218
Pretax income (loss):
Pretax income (loss)									127,946	116,325	118,264
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures									(1,106)	(374)	(148)
Assets:
Total assets	1,740,299				1,695,753				1,740,299	1,695,753
Southeast [Member]
Segment Reporting Information [Line Items]
Inventory, Homes under Construction	120,184				124,618				120,184	124,618
Inventory, Real Estate, Land and Land Development Costs	238,324				245,948				238,324	245,948
Inventory, Land Held for Development and Sale	111,633				124,582				111,633	124,582
Equity in income (loss) of unconsolidated joint ventures:
Impairment of Real Estate									4,132	3,951	391
Investments in unconsolidated joint ventures:
Investments in unconsolidated joint ventures	2,501				2,501				2,501	2,501
Southeast [Member] | Homebuilding [Member]
Revenues:
Revenues									410,743	401,853	324,388
Pretax income (loss):
Pretax income (loss)									(22,758)	(11,158)	(45,992)
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures									(2)	3,291	496
Assets:
Total assets	507,844				531,011				507,844	531,011
Southwest [Member]
Segment Reporting Information [Line Items]
Inventory, Homes under Construction	112,032				65,647				112,032	65,647
Inventory, Real Estate, Land and Land Development Costs	317,331				334,691				317,331	334,691
Inventory, Land Held for Development and Sale	104,677				138,367				104,677	138,367
Equity in income (loss) of unconsolidated joint ventures:
Impairment of Real Estate									3,253	6,392	0
Investments in unconsolidated joint ventures:
Investments in unconsolidated joint ventures	14,697				17,388				14,697	17,388
Southwest [Member] | Homebuilding [Member]
Revenues:
Revenues									398,242	199,504	175,252
Pretax income (loss):
Pretax income (loss)									31,718	6,015	2,903
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures									(696)	(2,176)	(2,355)
Assets:
Total assets	$ 582,030				$ 579,201				$ 582,030	579,201
Nationstar Mortgage LLC [Member] | Home Community Mortgage LLC [Member]
Segment Reporting Information [Line Items]
Ownership interest in joint venture	50.10%								50.10%
Land Option Contract Abandonment [Member]
Equity in income (loss) of unconsolidated joint ventures:
Loss on Contract Termination									$ 1,561	1,803	3,190
Land Option Contract Abandonment [Member] | Central [Member]
Equity in income (loss) of unconsolidated joint ventures:
Loss on Contract Termination									225	995	0
Land Option Contract Abandonment [Member] | West Coast [Member]
Equity in income (loss) of unconsolidated joint ventures:
Loss on Contract Termination									352	554	3,190
Land Option Contract Abandonment [Member] | Southeast [Member]
Equity in income (loss) of unconsolidated joint ventures:
Loss on Contract Termination									984	254	0
Land Option Contract Abandonment [Member] | Southwest [Member]
Equity in income (loss) of unconsolidated joint ventures:
Loss on Contract Termination									$ 0	$ 0	$ 0

Financial Services (Details)

Financial Services (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Nov. 30, 2015	Aug. 31, 2015	May. 31, 2015	Feb. 28, 2015	Nov. 30, 2014	Aug. 31, 2014	May. 31, 2014	Feb. 28, 2014	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2012
Financial services:
Insurance commissions									$ 7,137	$ 6,566	$ 7,177
Title services									3,905	3,593	3,172
Marketing services fees									0	1,147	1,800
Interest income									1	0	3
Total									11,043	11,306	12,152
Expenses
Expenses									(3,711)	(3,446)	(3,042)
Operating income (loss)									138,621	115,969	92,084
Equity in income (loss) of unconsolidated joint ventures									2,488	1,427	(933)
Pretax income (loss)	$ 69,917	$ 33,954	$ 12,673	$ 10,499	$ 28,601	$ 28,661	$ 26,924	$ 10,763	127,043	94,949	38,363
Assets
Cash and cash equivalents	560,341				358,768				560,341	358,768	532,523	$ 525,688
Receivables	152,682				125,488				152,682	125,488
Investments in unconsolidated joint ventures	71,558				79,441				71,558	79,441
Other assets	112,774				114,915				112,774	114,915
Total assets	5,015,371				4,757,550				5,015,371	4,757,550
Liabilities
Accounts payable and accrued expenses	697,184				582,598				697,184	582,598
Total liabilities	1,817				2,517				1,817	2,517
Financial services (Textual) [Abstract]
Equity Method Investment, Realized Gain (Loss) on Disposal											1,100
Financial services [Member]
Expenses
Operating income (loss)									7,332	7,860	9,110
Equity in income (loss) of unconsolidated joint ventures									4,292	686	1,074
Pretax income (loss)									11,624	8,546	10,184
Assets
Cash and cash equivalents	1,299				2,402				1,299	2,402	$ 2,428
Receivables	2,245				1,738				2,245	1,738
Investments in unconsolidated joint ventures	10,440				6,149				10,440	6,149
Other assets	44				197				44	197
Total assets	14,028				10,486				14,028	10,486
Liabilities
Accounts payable and accrued expenses	$ 1,817				$ 2,517				$ 1,817	$ 2,517

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	Jan. 29, 2013	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Debt Instrument [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		8,000,000	5,200,000	5,200,000
Convertible senior notes due February 1, 2019 at 1.375%
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.375%	1.375%	1.375%
Convertible Notes Payable [Member] | Convertible senior notes due February 1, 2019 at 1.375%
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		1.375%	1.375%	1.375%
Debt Conversion, Converted Instrument, Shares Issued	36.5297

Earnings Per Share (Basic and D

Earnings Per Share (Basic and Diluted Loss Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Nov. 30, 2015	Aug. 31, 2015	May. 31, 2015	Feb. 28, 2015	Nov. 30, 2014	Aug. 31, 2014	May. 31, 2014	Feb. 28, 2014	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Numerator:
Net income (loss)	$ 44,017	$ 23,254	$ 9,573	$ 7,799	$ 852,801	$ 28,361	$ 26,624	$ 10,563	$ 84,643	$ 918,349	$ 39,963
Participating Securities, Distributed and Undistributed Earnings (Loss), Basic									(33)	(26)	(24)
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic									(273)	(2,667)	(90)
Numerator for basic earnings per share									84,337	915,656	39,849
Interest expense and amortization of debt issuance costs associated with convertible senior notes, net of taxes									2,667	2,667	2,230
Undistributed Earnings (Loss) Allocated to Participating Securities, Diluted									273	2,667	90
Less: Undistributed earnings reallocated to nonvested restricted stock									(244)	(2,398)	(81)
Numerator for diluted earnings per share									$ 87,033	$ 918,592	$ 42,088
Denominator:
Weighted average shares outstanding — basic									92,054	89,265	82,630
Share-based payments, shares									2,401	1,647	1,885
Convertible senior notes, shares									8,402	8,402	7,044
Weighted average shares outstanding — diluted									102,857	99,314	91,559
Basic earnings (loss) per share, in dollars per share	$ 0.48	$ 0.25	$ 0.10	$ 0.08	$ 9.25	$ 0.31	$ 0.30	$ 0.13	$ 0.92	$ 10.26	$ 0.48
Diluted earnings (loss) per share, in dollars per share	$ 0.43	$ 0.23	$ 0.10	$ 0.08	$ 8.36	$ 0.28	$ 0.27	$ 0.12	$ 0.85	$ 9.25	$ 0.46

Receivables (Details)

Receivables (Details) - USD ($) $ in Thousands	Nov. 30, 2015	Nov. 30, 2014
Receivables [Abstract]
Receivables	$ 152,682	$ 125,488
Allowances for doubtful accounts	$ 12,200	$ 15,300

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2015		Nov. 30, 2014		Nov. 30, 2013
Interest Costs
Capitalized interest at beginning of year		$ 266,668	[1]	$ 216,681	[1]	$ 217,684
Interest incurred	[2]	186,885		171,541		149,101
Interest Expense	[2]	(21,856)		(30,750)		(62,690)
Interest amortized to construction and land costs	[3]	(143,255)		(90,804)		(87,414)
Capitalized interest at end of year	[1]	288,442		266,668		216,681
Inventories
Homes under construction		1,031,356		928,272
Land under development		1,766,045		1,710,149
Land held for future development		516,346		579,966
Total		3,313,747		3,218,387
Gain (loss) on early extinguishment of debt		0		$ 0		$ (10,448)
Land [Member]
Interest Costs
Interest amortized to construction and land costs		$ (16,400)
[1]	Capitalized interest amounts presented in the table reflect the gross amount of capitalized interest, as inventory impairment charges recognized, if any, are not generally allocated to specific components of inventory.
[2]	Amounts for the year ended November 30, 2013 included losses on the early extinguishment of debt of $10.4 million associated with the purchase and retirement of certain senior notes ahead of their maturity.
[3]	Interest amortized to construction and land costs for the year ended November 30, 2015 included $16.4 million related to land sales during the period.

Inventory Impairments and Lan59

Inventory Impairments and Land Option Contract Abandonments (Details)		3 Months Ended	12 Months Ended
		Nov. 30, 2014USD ($)community	Nov. 30, 2015USD ($)lotcommunitydeliveryproperty	Nov. 30, 2014USD ($)lotcommunitydeliveryproperty	Nov. 30, 2013USD ($)lotdeliveryproperty
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate		$ (34,200,000)	$ (8,030,000)	$ (37,628,000)	$ (391,000)
Acquisition Costs Related To Land Option Contracts And Other Similar Contracts		48,000,000	65,600,000	48,000,000
Carrying Value of Communities of Land Parcels Evaluated for Impairment		266,900,000	$ 286,300,000	$ 266,900,000	$ 146,000,000
Number of land parcels or communities associated with non cash inventory impairment charges | property			4	8	1
Number of land parcels or communities evaluated for recoverability | property			35	32	31
Aggregate carrying value of inventory impacted by pretax, noncash inventory impairment charges		$ 266,600,000	$ 254,200,000	$ 266,600,000
Number of communities and various other land parcels impacted by pretax, noncash inventory impairment charges | community		33	28	33
Number of Lots on which abandonment charges are recognized | lot			1,166	1,306	295
Remaining useful life in addition to specified useful lives			1 year
Land Option Contract Abandonment Lots Associated with Projects Less Than $100,000 | lot			78	7,292	9,406
Specified period of remaining useful lives			10 years
Expected realization period of inventory maximum			5 years
Land [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate			$ 0	$ (26,600,000)
Number of land parcels or communities associated with non cash inventory impairment charges | property				2
Communities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate				$ (11,000,000)
Number of land parcels or communities associated with non cash inventory impairment charges | property				6
Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Estimate Input at Average Selling Price	[1]		$ 178,100	$ 216,100	$ 339,700
Fair Value Estimate Input at Sales for Period | delivery	[1]		2	1	1
Fair Value Inputs, Discount Rate	[1]		17.00%	17.00%	17.00%
Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Estimate Input at Average Selling Price	[1]		$ 509,400	$ 316,800	$ 339,700
Fair Value Estimate Input at Sales for Period | delivery	[1]		4	4	1
Fair Value Inputs, Discount Rate	[1]		20.00%	19.00%	17.00%
Acquisition Costs Related To Land Option Contracts And Other Similar Contracts			$ 100,000
Estimate of Fair Value Measurement [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets, Fair Value Disclosure		$ 30,600,000	12,000,000	$ 30,600,000	$ 1,100,000
Land Option Contract Abandonment [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Loss on Contract Termination			$ 1,561,000	$ 1,803,000	$ 3,190,000
[1]	The ranges of inputs used in each period primarily reflect differences between the housing markets where each of the impacted communities or land parcels are located, rather than fluctuations in prevailing market conditions.

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Thousands	Nov. 30, 2015	Nov. 30, 2014
Variable Interest Entity [Line Items]
Cash Deposits	$ 54,537	$ 33,059
Aggregate Purchase Price	1,187,707	958,470
Acquisition Costs Related To Land Option Contracts And Other Similar Contracts	65,600	48,000
Outstanding letters of credit	0	100
Increase in inventories and accrued expenses and other liabilities	110,000	3,100
Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Cash Deposits	32,436	10,633
Aggregate Purchase Price	611,567	520,628
Other land option contracts and other similar contracts [Member]
Variable Interest Entity [Line Items]
Cash Deposits	22,101	22,426
Aggregate Purchase Price	$ 576,140	$ 437,842

Investments in Unconsolidated61

Investments in Unconsolidated Joint Ventures (Narrative) (Details) $ in Thousands	Nov. 30, 2015USD ($)joint_venture	Nov. 30, 2014USD ($)joint_venture
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated joint ventures | $	$ 71,558	$ 79,441
Number of investments in unconsolidated joint ventures	7	6
Investments in Unconsolidated Joint Ventures with Debt
Schedule of Equity Method Investments [Line Items]
Number of investments in unconsolidated joint ventures		0
Runkle Canyon, LLC [Member] | Investments in Unconsolidated Joint Ventures with Debt
Schedule of Equity Method Investments [Line Items]
Number of investments in unconsolidated joint ventures	1

Investments in Unconsolidated62

Investments in Unconsolidated Joint Ventures (Condensed Information of Unconsolidated Joint Ventures) (Details) - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Statements of Operations of Unconsolidated Joint Ventures
Revenues		$ 15,322	$ 12,538	$ 17,446
Equity Method Investment, Summarized Financial Information, Cost of Sales		(23,123)	(10,790)	(10,709)
Other expense, net		(3,360)	(1,476)	(4,042)
Income (loss)		(11,161)	272	$ 2,695
Assets
Cash		23,309	23,699
Receivable		7,546	5,106
Inventories		175,196	153,427
Other assets		910	0
Total assets		206,961	182,232
Liabilities and equity
Accounts payable and other liabilities		17,108	10,824
Equity Method Investments Summarized Financial Information Debt	[1]	39,064	0
Equity		150,789	171,408
Total liabilities and equity		$ 206,961	$ 182,232
[1]	In August 2015, one of our unconsolidated joint ventures entered into a construction loan agreement with a third-party lender to finance its land development activities that is secured by the underlying property and related project assets. The unconsolidated joint venture’s outstanding secured debt is non-recourse to us and is scheduled to mature in August 2018. None of our other unconsolidated joint ventures had outstanding debt at November 30, 2015. None of our unconsolidated joint ventures had outstanding debt at November 30, 2014.

Investments in Unconsolidated63

Investments in Unconsolidated Joint Ventures (Additional Information for Investments in Unconsolidated Joint Ventures) (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Feb. 28, 2014USD ($)	Nov. 30, 2015USD ($)lotjoint_venture	Nov. 30, 2014USD ($)lotjoint_venture	Nov. 30, 2013USD ($)
Schedule of Equity Method Investments [Line Items]
Number of investments in unconsolidated joint ventures | joint_venture		7	6
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		$ 71,558	$ 79,441
Number of Unconsolidated Joint Venture Lots Controlled Under Land Option Contracts | lot		677	618
Proceeds from sale of investment in unconsolidated joint venture		$ 0	$ 10,110	$ 0
Equity Method Investment, Realized Gain (Loss) on Disposal				1,100
Inspirada Builders LLC [Member]
Schedule of Equity Method Investments [Line Items]
Increase in Inventories Due to Distribution of Land From Equity Method Investments		12,705	90,115	0
Increase in Inventory and Inventory-Related Obligations Associated with TIFE		$ 0	33,197	$ 0
Crown Farm Investor, LLC [Domain]
Schedule of Equity Method Investments [Line Items]
Proceeds from sale of investment in unconsolidated joint venture			$ 10,100
Equity Method Investment, Realized Gain (Loss) on Disposal	$ 3,200
Investments in Unconsolidated Joint Ventures with Debt
Schedule of Equity Method Investments [Line Items]
Number of investments in unconsolidated joint ventures | joint_venture			0

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Nov. 30, 2015	Nov. 30, 2014	Jan. 29, 2013
Other Assets [Line Items]
Cash surrender value of insurance contracts	$ 67,786	$ 70,571
Property and equipment, net	13,100	11,831
Debt issuance costs	25,408	27,082
Prepaid expenses	6,480	5,431
Total	$ 112,774	$ 114,915
Convertible senior notes due February 1, 2019 at 1.375%
Other Assets [Line Items]
Senior notes, rate	1.375%	1.375%	1.375%

Accrued Expenses and Other Li65

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2012
Schedule of Equity Method Investments [Line Items]
Self-Insurance and other litigation liabilities		$ 96,496	$ 89,606
Employee compensation and related benefits		114,456	113,875
Warranty liability		49,085	45,196	$ 48,704	$ 47,822
Customer Deposits, Current		14,563	15,197
Accrued interest payable		62,645	63,275
Inventory-related liabilities	[1]	148,887	52,009
Real estate and business taxes		14,255	13,684
Other		13,027	17,040
Total		513,414	409,882
Inspirada Builders LLC [Member]
Schedule of Equity Method Investments [Line Items]
Increase in Inventory and Inventory-Related Obligations Associated with TIFE		$ 0	$ 33,197	$ 0
[1]	Represents liabilities for inventory not owned associated with financing arrangements discussed in Note 8. Variable Interest Entities, as well as liabilities for fixed or determinable amounts associated with TIFE assessments. As homes are delivered, the obligation to pay the remaining TIFE assessments associated with each underlying lot is transferred to the homebuyer. As such, these assessment obligations will be paid by us only to the extent we do not deliver homes on applicable lots before the related TIFE obligations mature.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Nov. 30, 2014	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Component of income tax benefit (expense) in the consolidated statement of operations
Current federal income tax benefit		$ (1,400)	$ 100	$ 0
Current state income tax benefit (expense)		(2,000)	(1,900)	1,600
Current income tax benefit		(3,400)	(1,800)	1,600
Deferred federal income tax benefit		(35,900)	646,000	0
Deferred state income tax benefit		(3,100)	179,200	0
Deferred income tax benefit		(39,000)	825,200	0
Federal income tax benefit		(37,300)	646,100	0
State income tax benefit		(5,100)	177,300	1,600
Income tax benefit	$ 824,200	$ (42,400)	$ 823,400	$ 1,600

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($) $ in Thousands	Nov. 30, 2015	Nov. 30, 2014
Deferred tax liabilities
Capitalized expenses	$ 110,408	$ 103,196
State taxes	68,866	72,258
Other	196	310
Total	179,470	175,764
Deferred tax assets:
NOLs from 2006 through 2015	423,274	459,393
Tax credits	186,169	176,234
Inventory impairments and land option contract abandonments	179,828	229,264
Employee benefits	93,395	82,776
Warranty, legal and other accruals	49,655	42,621
Capitalized expenses	34,887	24,155
Partnerships and joint ventures	18,557	15,672
Depreciation and amortization	9,146	9,022
Other	4,537	3,009
Total	999,448	1,042,146
Valuation allowance	(37,782)	(41,150)
Total	961,666	1,000,996
Deferred Tax Assets, Net	$ 782,196	$ 825,232

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Nov. 30, 2014	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Percent		(1.30%)	(0.00%)	7.40%
Income tax benefit computed at the statutory U.S. federal income tax rate and income tax benefit (expense) provided in the consolidated statements of operations
Income tax benefit computed at statutory rate		$ (44,462)	$ (33,232)	$ (13,427)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		(35.00%)	(35.00%)	(35.00%)
Increase (decrease) resulting from
State taxes, net of federal income tax benefit		$ (5,155)	$ (13,907)	$ (1,947)
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent		(4.10%)	(14.70%)	(5.10%)
Effective Income Tax Rate Reconciliation, Tax Contingency, Other, Amount		$ (2,259)	$ 0	$ (1,808)
Effective Income Tax Rate Reconciliation, Deduction, Other, Percent		(1.80%)	0.00%	(4.70%)
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount		$ 0	$ 1,249	$ 0
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent		(0.00%)	1.30%	(0.00%)
Effective Income Tax Rate Reconciliation, Equity in Earnings (Losses) of Unconsolidated Subsidiary, Amount		$ 1,617	$ 10,441	$ (9,598)
Effective Income Tax Rate Reconciliation, Equity in Earnings (Losses) of Unconsolidated Subsidiary, Percent		1.30%	11.00%	(25.00%)
NOLs reconciliation		$ (3,379)	$ 12,973	$ (3,806)
Effective Income Tax Reconciliation Change Net Operating Loss, Percentage		(2.70%)	13.70%	(9.90%)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Amount		$ (1,701)	$ 0	$ 2,827
Recognition of federal tax benefits		$ 0	$ 59	$ 1,600
Effective Income tax Reconciliation Recognition of Federal Tax Benefits, Percent		(0.00%)	0.10%	4.20%
Tax credits		$ 8,220	$ 2,884	$ 2,675
Effective Income Tax Rate Reconciliation, Tax Credit, Percent		6.50%	3.00%	7.00%
Valuation allowance for deferred tax assets		$ 3,356	$ 825,232	$ 20,673
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent		2.60%	869.10%	53.90%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Depreciation, Percent		2.50%	16.60%	11.80%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Depreciation and Amortization, Amount		$ 3,183	$ 15,765	$ 4,523
Other, net		$ (1,820)	$ 1,936	$ (112)
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent		(1.40%)	2.10%	(0.30%)
Income tax benefit	$ 824,200	$ (42,400)	$ 823,400	$ 1,600
Effective Income Tax Rate Reconciliation, Percent		(33.40%)	867.20%	4.30%
Reconciliation of the beginning and ending balances of the gross unrecognized benefits
Balance at beginning of year		$ 206	$ 206	$ 1,671
Reductions due to lapse of statute of limitations		(150)	0	(1,465)
Balance at the end of year	$ 206	$ 56	$ 206	$ 206

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Nov. 30, 2014	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2012
Income Tax Contingency [Line Items]
Income Tax Credits and Adjustments		$ 5,600,000
Effective Income Tax Rate Reconciliation, Percent		(33.40%)	867.20%	4.30%
Future Income From Continuing Operations Before Income Taxes		$ 2,000,000,000
Income Taxes (Textual) [Abstract]
Income tax benefit	$ 824,200,000	(42,400,000)	$ 823,400,000	$ 1,600,000
Income Taxes Receivable, Current				1,400,000
Unrecognized Tax Benefits, Decrease Resulting from Current Period Tax Positions				1,000,000
Deferred income taxes		43,036,000	(825,232,000)	0
Deferred Tax Assets, Net	(866,400,000)	(820,000,000)	(866,400,000)
State and Local Income Tax Expense (Benefit), Continuing Operations				800,000
Net Increase in valuation allowance recorded against net deferred tax assets	825,200,000	$ 3,400,000		20,700,000
Period for Carry forward of tax benefits related to deferred tax assets		20 years
Deferred Tax Assets, Operating Loss Carryforwards, State and Local, Expired		$ 1,700,000
Deferred Tax Assets, Tax Credit Carryforwards		95,500,000
Accumulated Deferred Investment Tax Credit		3,200,000
Valuation allowance	(41,150,000)	(37,782,000)	(41,150,000)
Unrecognized tax benefits that if recognized would affect the Company's annual effective tax rate	100,000	100,000	100,000	300,000
Total accrued interest and penalties related to unrecognized income tax benefits	100,000	0	100,000
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	200,000	0	200,000
Unrecognized Tax Benefits	206,000	56,000	206,000	206,000	$ 1,671,000
Income taxes refunded		11,000	1,728,000	$ 61,000
Valuation allowance against net deferred tax assets	41,150,000	37,782,000	41,150,000
Total deferred tax assets	$ 1,000,996,000	961,666,000	$ 1,000,996,000
Gross Unrecognized Tax Benefits Including Interest and Penalties		$ 100,000
Maximum
Income Taxes (Textual) [Abstract]
Tax Credit Carryforward, Expiration Date		Dec. 31, 2034
Anticipated Decrease in Unrecognized Tax Benefit During Twelve Months Following Current Reporting Date		$ 100,000
Minimum
Income Taxes (Textual) [Abstract]
Tax Credit Carryforward, Expiration Date		Dec. 31, 2016
Anticipated Decrease in Unrecognized Tax Benefit During Twelve Months Following Current Reporting Date		$ 0
Investment Tax Credit Carryforward, Expiration in 2026 [Member]
Income Taxes (Textual) [Abstract]
Accumulated Deferred Investment Tax Credit		2,400,000
Investment Tax Credit Carryforward, Expiration in 2027 [Member]
Income Taxes (Textual) [Abstract]
Accumulated Deferred Investment Tax Credit		800,000
Foreign Investment Tax Credit Carryforward, Expiration in 2016 [Member]
Income Taxes (Textual) [Abstract]
Deferred Tax Assets, Tax Credit Carryforwards, Foreign		14,000,000
State and Local Jurisdiction [Member]
Income Taxes (Textual) [Abstract]
Operating Loss Carryforwards		$ 156,100,000
State and Local Jurisdiction [Member] | Maximum
Income Taxes (Textual) [Abstract]
Operating Loss Carryforwards, Expiration Date		Dec. 31, 2035
State and Local Jurisdiction [Member] | Minimum
Income Taxes (Textual) [Abstract]
Operating Loss Carryforwards, Expiration Date		Dec. 31, 2016
Internal Revenue Service (IRS) [Member]
Income Taxes (Textual) [Abstract]
Operating Loss Carryforwards		$ 267,100,000
Internal Revenue Service (IRS) [Member] | Maximum
Income Taxes (Textual) [Abstract]
Operating Loss Carryforwards, Expiration Date		Dec. 31, 2033
Internal Revenue Service (IRS) [Member] | Minimum
Income Taxes (Textual) [Abstract]
Operating Loss Carryforwards, Expiration Date		Dec. 31, 2030

Notes Payable (Schedule of Note

Notes Payable (Schedule of Notes Payable) (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2013	Nov. 30, 2015	Feb. 17, 2015	Nov. 30, 2014	Mar. 25, 2014	Mar. 25, 2014	Mar. 25, 2014	Oct. 29, 2013	Oct. 29, 2013	Oct. 29, 2013	Jan. 29, 2013	Jul. 31, 2012	Jul. 31, 2012	Jul. 31, 2012	Feb. 07, 2012	Feb. 07, 2012	Feb. 07, 2012	Jul. 30, 2009	Jul. 30, 2009	Jul. 30, 2009	Apr. 03, 2006	Apr. 03, 2006	Apr. 03, 2006	Jun. 02, 2005
Debt Instrument [Line Items]
Notes payable		$ 2,625,536		$ 2,576,525
Convertible senior notes due February 1, 2019 at 1.375%
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		1.375%		1.375%							1.375%
Mortgages and land contracts due to land sellers and other loans (at interest rates of 7% at November 30, 2013 and 6% to 7% at November 30, 2012)
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	700.00%
Notes payable		$ 35,664		$ 38,250
Mortgages and land contracts due to land sellers and other loans (at interest rates of 7% at November 30, 2013 and 6% to 7% at November 30, 2012) | Minimum
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.00%	400.00%		500.00%
Mortgages and land contracts due to land sellers and other loans (at interest rates of 7% at November 30, 2013 and 6% to 7% at November 30, 2012) | Maximum
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		700.00%		700.00%
Senior Notes [Member] | Senior notes due June 15, 2015 at 6 1/4%
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.25%			6.25%
Debt Instrument, Interest Rate, Effective Percentage																								6.30%
Notes payable		$ 0		$ 199,891
Debt Instrument, Repurchased Face Amount																								$ 199,906
Senior Notes [Member] | Senior notes due September 15, 2017 at 9.10%
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	9.10%	9.10%		9.10%
Debt Instrument, Interest Rate, Effective Percentage																		9.50%		9.453%
Notes payable		$ 263,475		$ 262,729
Debt Instrument, Face Amount																			$ 265,000
Senior Notes [Member] | Senior notes due June 15, 2018 at 7 1/4%
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.25%	7.25%		7.25%
Debt Instrument, Interest Rate, Effective Percentage																					7.30%		7.314%
Notes payable		$ 299,554		$ 299,402
Debt Instrument, Face Amount																						$ 300,000
Senior Notes [Member] | Senior notes due May 15, 2019 at 4.75%
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		4.75%		4.75%
Debt Instrument, Interest Rate, Effective Percentage					4.80%		4.75%
Notes payable		$ 400,000		$ 400,000
Debt Instrument, Face Amount						$ 400,000
Senior Notes [Member] | Senior notes due March 15, 2020 at 8.00%
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	8.00%	8.00%		8.00%
Debt Instrument, Interest Rate, Effective Percentage															8.30%		8.252%
Notes payable		$ 346,843		$ 346,253
Debt Instrument, Face Amount																$ 350,000
Senior Notes [Member] | Senior notes due December 15, 2021 at 7.00%
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.50%	7.50%		7.50%
Debt Instrument, Interest Rate, Effective Percentage								7.00%		7.00%
Notes payable		$ 450,000		$ 450,000
Debt Instrument, Face Amount									$ 450,000
Senior Notes [Member] | Senior notes due September 15, 2022 at 7.50%
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.00%	7.00%		7.00%
Debt Instrument, Interest Rate, Effective Percentage												7.50%		7.50%
Notes payable		$ 350,000		$ 350,000
Debt Instrument, Face Amount													$ 350,000
Senior Notes [Member] | Senior Notes Due Two Thousand Twenty Three At Seven Point Six Two Five Percent [Domain]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		7.625%
Debt Instrument, Interest Rate, Effective Percentage			7.625%
Notes payable		$ 250,000		$ 0
Debt Instrument, Face Amount			$ 250,000
Convertible Notes Payable [Member] | Convertible senior notes due February 1, 2019 at 1.375%
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.375%	1.375%		1.375%
Debt Instrument, Interest Rate, Effective Percentage											1.375%	1.40%
Proceeds from Convertible Debt	$ 222,700
Notes payable		$ 230,000		$ 230,000
Debt Instrument, Face Amount											$ 230,000

Notes Payable (Narrative) (Deta

Notes Payable (Narrative) (Details) - USD ($)	Jan. 29, 2013	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013	May. 31, 2015	Feb. 17, 2015	Mar. 25, 2014	Oct. 29, 2013	Jul. 31, 2012	Feb. 07, 2012	Jul. 30, 2009	Apr. 03, 2006
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity		$ 275,000,000			$ 200,000,000
Line of Credit Facility, Significant Subsidiary Threshold, Percent		5.00%
Line of Credit Facility, Non Guarantor Subsidiary Threshold, Percent		10.00%
Incremental Common Shares Attributable to Conversion of Debt Securities		8,402,000	8,402,000	7,044,000
Letters of Credit Outstanding, Amount		$ 33,400,000	$ 26,700,000
Gain (loss) on early extinguishment of debt		0	0	$ 10,448,000
Primarily inventories carrying value		136,100,000
Repayments of Long-term Debt		199,906,000	0	225,394,000
Proceeds from Issuance of Senior Long-term Debt		250,000,000	$ 400,000,000	$ 680,000,000
Long-term Debt, Fiscal Year Maturity [Abstract]
Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans due 2013		35,700,000
Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans due 2014		265,000,000
Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans due 2015		300,000,000
Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans due 2016		630,000,000
Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans due 2017		350,000,000
Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans due thereafter		$ 1,050,000,000
Convertible senior notes due February 1, 2019 at 1.375%
Debt Instrument [Line Items]
Senior notes, rate	1.375%	1.375%	1.375%
Convertible Notes Payable [Member] | Convertible senior notes due February 1, 2019 at 1.375%
Debt Instrument [Line Items]
Conversion Price Premium	100.00%
Incremental Common Shares Attributable to Conversion of Debt Securities	8,401,831
Percentage of Principal Amount for Purchase of Notes if Fundamental Change		100.00%
Senior notes	$ 230,000,000
Senior notes, rate		1.375%	1.375%	1.375%
Debt Conversion, Converted Instrument, Shares Issued	36.5297
Debt Instrument, Convertible, Conversion Price	$ 27.37
Proceeds from Convertible Debt				$ 222,700,000
Mortgages and Land Contracts Due to Land Sellers and Other Loans [Member]
Debt Instrument [Line Items]
Senior notes, rate				700.00%
Senior Notes [Member]
Debt Instrument [Line Items]
Repayments of Senior Debt				$ 215,100,000
Percentage of principal amount for purchase of notes if change in control		101.00%
Senior Notes [Member] | Senior Notes Due Two Thousand Twenty Three At Seven Point Six Two Five Percent [Domain]
Debt Instrument [Line Items]
Conversion Price Premium						100.00%
Senior notes						$ 250,000,000
Proceeds from Issuance of Senior Long-term Debt		$ 245,400,000
Senior notes, rate		7.625%
Senior Notes [Member] | Senior notes due May 15, 2019 at 4.75%
Debt Instrument [Line Items]
Conversion Price Premium							100.00%
Senior notes							$ 400,000,000
Senior notes, rate		4.75%	4.75%
Senior Notes [Member] | Senior notes due June 15, 2015 at 6 1/4%
Debt Instrument [Line Items]
Repayments of Long-term Debt		$ 199,900,000
Senior notes, rate			6.25%	6.25%
Senior Notes [Member] | Senior notes due September 15, 2022 at 7.50%
Debt Instrument [Line Items]
Conversion Price Premium									100.00%
Senior notes									$ 350,000,000
Senior notes, rate		7.00%	7.00%	7.00%
Senior Notes [Member] | Senior notes due December 15, 2021 at 7.00%
Debt Instrument [Line Items]
Conversion Price Premium								100.00%
Senior notes								$ 450,000,000
Senior notes, rate		7.50%	7.50%	7.50%
Senior Notes [Member] | Senior notes due September 15, 2017 at 9.10%
Debt Instrument [Line Items]
Conversion Price Premium											100.00%
Senior notes											$ 265,000,000
Senior notes, rate		9.10%	9.10%	9.10%
Senior Notes [Member] | Senior notes due June 15, 2018 at 7 1/4%
Debt Instrument [Line Items]
Conversion Price Premium												100.00%
Senior notes												$ 300,000,000
Senior notes, rate		7.25%	7.25%	7.25%
Senior Notes [Member] | Senior notes due March 15, 2020 at 8.00%
Debt Instrument [Line Items]
Conversion Price Premium										100.00%
Senior notes										$ 350,000,000
Senior notes, rate		8.00%	8.00%	8.00%
Senior notes due May 15, 2019 at 4.75%
Debt Instrument [Line Items]
Proceeds from Issuance of Senior Long-term Debt			$ 394,600,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Expiration Date		Aug. 7, 2019
Line of Credit Facility, Maximum Borrowing Capacity		$ 450,000,000
Line of Credit Facility, Amount Outstanding		0
Line of Credit Facility, Remaining Borrowing Capacity		250,700,000
Letter of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity		137,500,000
Line of Credit Facility, Amount Outstanding		24,296,000
Line of Credit Facility, Remaining Borrowing Capacity		113,200,000
LOC Facilities [Member]
Debt Instrument [Line Items]
Letters of Credit Outstanding, Amount		$ 9,100,000	$ 26,700,000
Minimum | Mortgages and Land Contracts Due to Land Sellers and Other Loans [Member]
Debt Instrument [Line Items]
Senior notes, rate		400.00%	500.00%	0.00%
Minimum | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.30%
Maximum | Mortgages and Land Contracts Due to Land Sellers and Other Loans [Member]
Debt Instrument [Line Items]
Senior notes, rate		700.00%	700.00%
Maximum | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		0.50%

Fair Value Disclosures (Details

Fair Value Disclosures (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2015	Nov. 30, 2014
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Post Impairment Fair Value	[1]	$ 0	$ 6,421
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Post Impairment Fair Value	[1]	$ 11,988	$ 24,174
[1]	(a)Amounts represent the aggregate fair value for real estate assets impacted by inventory impairment charges during the period, as of the date that the fair value measurements were made. The carrying value for these real estate assets may have subsequently increased or decreased from the fair value reflected due to activity that has occurred since the measurement date.

Fair Value Disclosures (Detai73

Fair Value Disclosures (Details 1) - USD ($) $ in Thousands	Nov. 30, 2015	Nov. 30, 2014	Jan. 29, 2013
Convertible senior notes due February 1, 2019 at 1.375%
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes, rate	1.375%	1.375%	1.375%
Carrying Value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	$ 2,359,872	$ 2,308,275
Convertible Debt, Fair Value Disclosures	230,000	230,000
Estimate of Fair Value Measurement [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	2,429,850	2,468,852
Convertible Debt, Fair Value Disclosures	$ 211,313	$ 229,713

Fair Value Disclosures (Detai74

Fair Value Disclosures (Details Textual) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Nov. 30, 2014	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of Real Estate	$ 34,200	$ 8,030	$ 37,628	$ 391
Inventory Impacted by Pretax Noncash Inventory Impairment Charges, Carrying Value	68,200	20,000	68,200
Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 30,600	$ 12,000	$ 30,600	$ 1,100

Commitments and Contingencies75

Commitments and Contingencies (Details) - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2015	Nov. 30, 2014		Nov. 30, 2013
Changes in the Company's warranty liability
Balance at beginning of year		$ 45,196	$ 48,704		$ 47,822
Warranties issued		23,018	18,479		14,261
Payments		(26,367)	(39,458)		(45,338)
Adjustments	[1]	7,238	17,471		31,959
Balance at end of year		49,085	45,196		48,704
Self Insurance Reserve, Balance at beginning of year		86,574	92,214		93,349
Expenses Associated with Self Insurance		18,590	13,491	[2]	8,239	[2]
Payments, Net of Recoveries for Self Insurance		(22,989)	(19,131)	[3]	(9,374)	[3]
Self Insurance Reserve, Balance at end of year		$ 82,175	$ 86,574		$ 92,214
[1]	As discussed below, adjustments in 2015 and 2014 were primarily comprised of the reclassification of estimated minimum probable recoveries to receivables. Adjustments in 2014 also included a reclassification of estimated minimum probable recoveries to establish a separate accrual for a water intrusion-related inquiry. Adjustments in 2013 were comprised of charges associated with water intrusion-related issues in central and southwest Florida.
[2]	These expenses are included in selling, general and administrative expenses and are largely offset by contributions from independent subcontractors participating in the wrap-up policy.
[3]	Recoveries are reflected in the period we receive funds from independent subcontractors and/or their insurers.

Commitments and Contingencies76

Commitments and Contingencies (Details Textual) $ in Thousands		3 Months Ended	12 Months Ended
		Nov. 30, 2014USD ($)communityHome	Nov. 30, 2015USD ($)propertyHome	Nov. 30, 2014USD ($)communitypropertyHome		Nov. 30, 2013USD ($)propertyHome		Nov. 30, 2012USD ($)
Loss Contingencies [Line Items]
Impairment of Real Estate		$ 34,200	$ 8,030	$ 37,628		$ 391
Operating Leases, Rent Expense, Net			$ 8,500	7,700		6,500
Minimum warranty on electrical and other building systems			2 years
Standard Product Warranty Accrual, Payments			$ 26,367	$ 39,458		$ 45,338
Number of Affected Attached Home Communities | community		1		1
Number of Land Parcels or Communities Associated with Non Cash Inventory Impairment Charges | property			4	8		1
Product Warranty Accrual, Period Increase (Decrease)						$ 32,000
Maximum Warranty on Electrical Heating Cooling Plumbing and Other Building Systems			5 years
Commitments and Contingencies (Textual) [Abstract]
Structural warranty provided by the company			10 years
Warranty for other components of a home			1 year
Company's warranty liability		$ 45,196	$ 49,085	$ 45,196		48,704		$ 47,822
Company's estimated liabilities for construction defect		86,574	82,175	86,574		92,214		$ 93,349
Expenses associated with self-insurance			18,590	13,491	[1]	8,239	[1]
Product Warranty Accrual, Preexisting, Increase (Decrease)	[2]		(7,238)	(17,471)		(31,959)
Performance bonds		541,600	565,400	541,600
Letters of Credit Outstanding, Amount		26,700	33,400	26,700
Non refundable deposits related to land option and other similar contracts		33,059	54,537	33,059
Letters of credit		100	0	100
Aggregate Purchase Price Associated with Land Option and Other Similar Contracts		958,470	1,187,707	958,470
Water Intrusion [Member]
Loss Contingencies [Line Items]
Product Liability Accrual, Component Amount		$ 9,400	$ 2,200	$ 9,400		$ 28,900
Number of Affected Homes on which Repairs Were Resolved | Home			356	536		754
Number of Affected Homes | Home		324	69	324		710
Accumulated Number of Affected Homes | Home			1,715
Accumulated Number of affected homes on which repairs were resolved. | Home			1,646
Cumulative Payments Made As Repair Costs For Affected Homes			$ 71,700
Standard Product Warranty Accrual, Payments			8,400	$ 26,600		$ 32,700
Estimated Repair Costs for Affected Homes			73,900
Insurance Recoveries			$ 7,000	$ 900
Additional Number of Affected Homes Associated with Repair Costs | Home			101	150
Product Liability Contingency, Third Party Recovery			$ 20,600	$ 26,600
Product Liability Contingency, Third Party Recovery Included In Warranty Liability			2,200	9,400		19,400
Commitments and Contingencies (Textual) [Abstract]
Loss Contingency, Receivable		$ 18,110	$ 7,238	$ 18,110		$ 0
Palm River [Member] | Water Intrusion [Member]
Loss Contingencies [Line Items]
Number of Affected Attached Home Communities | community		1		1
[1]	These expenses are included in selling, general and administrative expenses and are largely offset by contributions from independent subcontractors participating in the wrap-up policy.
[2]	As discussed below, adjustments in 2015 and 2014 were primarily comprised of the reclassification of estimated minimum probable recoveries to receivables. Adjustments in 2014 also included a reclassification of estimated minimum probable recoveries to establish a separate accrual for a water intrusion-related inquiry. Adjustments in 2013 were comprised of charges associated with water intrusion-related issues in central and southwest Florida.

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Schedule of Future Minimum Rental Payments for Operating Leases) (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Operating Leased Assets [Line Items]
2,015	$ 7,552
2,016	5,805
2,017	4,924
2,018	4,316
2,019	3,417
Thereafter	9,442
Total Minimum Lease Payments	35,456
Rental expense on operating leases	$ 8,500	$ 7,700	$ 6,500
Minimum
Operating Leased Assets [Line Items]
Noncancelable operating leases, term	3 years
Maximum
Operating Leased Assets [Line Items]
Noncancelable operating leases, term	5 years
Noncancelable operating leases, renewal term	5 years

Legal Matters (Details)

Legal Matters (Details)	12 Months Ended
	Nov. 30, 2015USD ($)a
Nevada Development Contract Litigation
Loss Contingencies [Line Items]
Acres of purchased land by LVDA | a	83
Expected compensatory damages	$ 55,000,000
Prejudgment Interest for Litigation	41,000,000
Edwards, K. and Andrea L. Bejenaru, et. al. [Member] [Member]
Loss Contingencies [Line Items]
Expected compensatory damages	66,000,000
San Diego Region (Basin Plan) [Domain]
Loss Contingencies [Line Items]
Site Contingency, Loss Exposure Not Accrued, Low Estimate	100,000
Maximum | Nevada Development Contract Litigation
Loss Contingencies [Line Items]
Expected compensatory damages	55,000,000
Minimum | Nevada Development Contract Litigation
Loss Contingencies [Line Items]
Expected compensatory damages	$ 0

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Nov. 30, 2015	Aug. 31, 2015	May. 31, 2015	Feb. 28, 2015	Nov. 30, 2014	Aug. 31, 2014	May. 31, 2014	Feb. 28, 2014	Nov. 30, 2013	Aug. 31, 2013	May. 31, 2013	Feb. 28, 2013	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013	Jul. 17, 2014	Mar. 25, 2014	Jul. 18, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Shares Authorized	290,000,000				290,000,000								290,000,000	290,000,000
Common Stock, Capital Shares Reserved for Future Issuance	12,602,735				12,602,735								12,602,735	12,602,735
Authorized repurchase of common stock	4,000,000												4,000,000
Common Stock, Shares, Issued	115,547,682				115,386,512								115,547,682	115,386,512
Treasury Stock, Value	$ 447,043				$ 446,476								$ 447,043	$ 446,476
Stockholder's Equity (Textual) [Abstract]
Number of shares that can be purchased by exercising each right	0.01												0.01
Purchase price for right holders	$ 85												$ 85
Exercisable options available													earlier of (a) 10 calendar days after a public announcement by us that a person or group has become an Acquiring Person (as defined under the 2009 Rights Agreement) and (b) 10 business days after the commencement of a tender or exchange offer by a person or group if upon consummation of the offer the person or group would beneficially own 4.9% or more of our outstanding common stock.
Calendar days after a public announcement during which rights to be exercised													10 days
Business days after the commencement of a tender or exchange offer during which rights to be exercised													10 days
Beneficially ownership in company's outstanding common stock to be held by person or group to exercise rights													4.90%
Price at which company may redeem all of the then outstanding rights	0.001												$ 0.001
Stock Issued During Period, Shares, New Issues														7,986,111	6,325,000
Common stock, par value, in dollars	1				$ 1				$ 1				$ 1	$ 1	$ 1		$ 1
Treasury Stock Acquired, Average Cost Per Share														$ 18	$ 18.25
Options under which right issued pursuant to the 2009 rights Agreement will expire													earliest of (a) the close of business on March 5, 2019, (b) the time at which the rights are redeemed, (c) the time at which the rights are exchanged, (d) the time at which our board of directors determines that a related provision in our Restated Certificate of Incorporation is no longer necessary, and (e) the close of business on the first day of a taxable year of ours to which our board of directors determines that no tax benefits may be carried forward. At our annual meeting of stockholders on April 2, 2009, our stockholders approved the 2009 Rights Agreement.
Cash dividend declared per share	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.0625
Stock repurchases													$ (567)	$ (546)	$ (8,488)
Proceeds from issuance of common stock, net													$ 0	$ 137,045	$ 109,503
Director Stock Units [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number																		481,554
Authorized repurchase of common stock																		482,000
Common Stock, Shares, Issued																		478,294
Treasury Stock, Value																		$ 7,900
Director Plan SARs [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock, Shares Authorized																680,000
Common Stock, Capital Shares Reserved for Future Issuance																679,815
Authorized repurchase of common stock																680,000
Common Stock, Shares, Issued	0												0

Accumulated Other Comprehensi80

Accumulated Other Comprehensive Loss (Changes in the balances of each component of accumulated other comprehensive loss) (Details) - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance		$ (21,008)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	[1]	2,404	$ 1,913	$ 3,359
Income tax expense related to items of other comprehensive income		(2,460)	(1,604)	0
Other comprehensive income (loss), net of tax		3,689	(3,492)	10,442
Ending Balance		(17,319)	(21,008)
Accumulated Define Benefit Plans Adjustment Member
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance		(21,008)	(17,516)
Net actuarial gain (loss) arising during the period		3,745	(3,801)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		2,404	1,913
Income tax expense related to items of other comprehensive income		(2,460)	(1,604)
Other comprehensive income (loss), net of tax		3,689	(3,492)
Ending Balance		$ (17,319)	$ (21,008)	$ (17,516)
[1]	The accumulated other comprehensive loss components are included in the computation of net periodic benefit costs as further discussed in Note 20. Postretirement Benefits.

Accumulated Other Comprehensi81

Accumulated Other Comprehensive Loss (Amounts reclassified from accumulated other comprehensive loss) (Details) - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amortization of net actuarial loss		$ 848	$ 357	$ 1,803
Amortization of prior service cost		1,556	1,556	1,556
Total reclassifications	[1]	2,404	$ 1,913	$ 3,359
Defined Benefit Plan, Future Amortization of Prior Service Cost (Credit)		100
Defined Benefit Plan, Future Amortization of Gain (Loss)		$ 1,600
[1]	The accumulated other comprehensive loss components are included in the computation of net periodic benefit costs as further discussed in Note 20. Postretirement Benefits.

Employee Benefit and Stock Pl82

Employee Benefit and Stock Plans (Details) - $ / shares	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based payments award terms of Award	5 years	5 years	5 years
Stock option transactions
Options outstanding at beginning of year, Options	11,735,042	10,531,938	10,105,546
Options outstanding at beginning of year, Weighted Average Exercise Price in dollars per share	$ 20.45	$ 21.11	$ 21.27
Granted, Options	1,262,000	1,273,647	550,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price in dollars per share	$ 14.92	$ 14.62	$ 16.63
Employee stock options/other, Shares	(76,164)	(36,665)	(118,208)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price in dollars per share	$ 9.69	$ 7.92	$ 13.46
Cancelled, Options	(285,234)	(33,878)	(5,400)
Cancelled, Weighted Average Exercise Price in dollars per share	$ 45.80	$ 20.25	$ 24.24
Options outstanding at end of year, Options	12,635,644	11,735,042	10,531,938
Options outstanding at end of year, Weighted Average Exercise Price in dollars per share	$ 19.39	$ 20.45	$ 21.11
Options exercisable at end of year, Options	10,389,722	10,103,739	9,414,935
Options exercisable at end of period, Weighted Average Exercise Price in dollars per share	$ 20.35	$ 21.32	$ 22.26
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	1,544,195	3,514,077	746,043
Equity Incentive Two Thousand Fourteen Plan [Member] [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based payments award terms of Award	10 years
Director Plan SARs [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based payments award terms of Award	15 years
Performance Based Incentive Plan for Senior Management [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based payments award terms of Award	15 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	820,209	628,209	385,049	227,049
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	192,000	243,160	158,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 14.92	$ 14.62	$ 16.63
Weighted average per share grant date fair value in dollars per share	$ 15.52	$ 15.70	$ 16.39	$ 16.23

Employee Benefit and Stock Pl83

Employee Benefit and Stock Plans (Details 1) - $ / shares	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014
$ 6.32 to $10.54
Stock options outstanding and stock options exercisable
Range of Exercise Price in dollars per share, Minimum	$ 6.32
Range of Exercise Price in dollars per share, Maximum	$ 11.06
Options Outstanding, Options	2,771,667
Options Outstanding, Weighted Average Exercise Price in dollars per share	$ 8.33
Options Outstanding, Weighted Average Remaining Contractual Life	5 years 5 months 1 day
Options Exercisable, Options	2,771,667
Options Exercisable, Weighted Average Exercise Price in dollars per share	$ 8.33
$10.55 to $14.96
Stock options outstanding and stock options exercisable
Range of Exercise Price in dollars per share, Minimum	11.07
Range of Exercise Price in dollars per share, Maximum	$ 14.95
Options Outstanding, Options	3,166,036
Options Outstanding, Weighted Average Exercise Price in dollars per share	$ 14.49
Options Outstanding, Weighted Average Remaining Contractual Life	7 years 7 months 31 days
Options Exercisable, Options	1,088,448
Options Exercisable, Weighted Average Exercise Price in dollars per share	$ 13.89
$14.97 to $20.08
Stock options outstanding and stock options exercisable
Range of Exercise Price in dollars per share, Minimum	14.96
Range of Exercise Price in dollars per share, Maximum	$ 19.90
Options Outstanding, Options	2,652,671
Options Outstanding, Weighted Average Exercise Price in dollars per share	$ 17.31
Options Outstanding, Weighted Average Remaining Contractual Life	4 years 2 months 1 day
Options Exercisable, Options	2,484,337
Options Exercisable, Weighted Average Exercise Price in dollars per share	$ 17.35
$20.09 to $33.92
Stock options outstanding and stock options exercisable
Range of Exercise Price in dollars per share, Minimum	19.91
Range of Exercise Price in dollars per share, Maximum	$ 33.92
Options Outstanding, Options	2,092,746
Options Outstanding, Weighted Average Exercise Price in dollars per share	$ 26.99
Options Outstanding, Weighted Average Remaining Contractual Life	2 years 1 month 1 day
Options Exercisable, Options	2,092,746
Options Exercisable, Weighted Average Exercise Price in dollars per share	$ 26.99
$33.93 to $69.63
Stock options outstanding and stock options exercisable
Range of Exercise Price in dollars per share, Minimum	33.93
Range of Exercise Price in dollars per share, Maximum	$ 69.63
Options Outstanding, Options	1,952,524
Options Outstanding, Weighted Average Exercise Price in dollars per share	$ 37.73
Options Outstanding, Weighted Average Remaining Contractual Life	2 years 6 months 31 days
Options Exercisable, Options	1,952,524
Options Exercisable, Weighted Average Exercise Price in dollars per share	$ 37.73
$ 6.32 to $69.63
Stock options outstanding and stock options exercisable
Range of Exercise Price in dollars per share, Minimum	6.32
Range of Exercise Price in dollars per share, Maximum	$ 69.63
Options Outstanding, Options	12,635,644
Options Outstanding, Weighted Average Exercise Price in dollars per share	$ 19.39
Options Outstanding, Weighted Average Remaining Contractual Life	4 years 8 months 15 days
Options Exercisable, Options	10,389,722
Options Exercisable, Weighted Average Exercise Price in dollars per share	$ 20.35
Options Exercisable, Weighted Average Remaining Contractual Life		3 years 9 months 1 day

Employee Benefit and Stock Pl84

Employee Benefit and Stock Plans (Details 2)	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Assumptions of Black-Scholes option-pricing model
Risk-free interest rate	1.40%	1.60%	1.30%
Expected volatility factor	43.60%	41.00%	52.30%
Expected dividend yield	0.70%	0.70%	0.60%
Expected term	5 years	5 years	5 years

Employee Benefit and Stock Pl85

Employee Benefit and Stock Plans (Details 3) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
		Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to stock option grants		$ 17,143	$ 8,382	$ 9,722
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		76,164	36,665	118,208
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to stock option grants	[1]	$ 7,576	$ 3,024	$ 2,285
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to stock option grants		$ 2,499	$ 1,750	$ 1,365
Restricted stock transactions
Outstanding at beginning of year, Shares		355,294	219,628	229,724
Weighted average per share grant date fair value in dollars per share		$ 15.88	$ 15.81	$ 16.23	$ 15.81
Granted, Shares		285,006	219,835	88,000
Granted, Weighted Average per Share Grant Date Fair Value		$ 15.19	$ 15.34	$ 17.50
Vested, Shares		(204,663)	(73,908)	(91,312)
Vested, Weighted Average per Share Grant Date Fair Value		$ 14.83	$ 16.52	$ 15.18
Cancelled, Shares		(18,660)	(10,261)	(6,784)
Cancelled, Weighted Average per Share Grant Date Fair Value		$ 15.45	$ 18.55	$ 17.24
Outstanding at end of year, Shares		416,977	355,294	219,628
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to stock option grants		$ 5,404	$ 3,699	$ 2,049
Restricted stock transactions
Outstanding at beginning of year, Shares		628,209	385,049	227,049
Weighted average per share grant date fair value in dollars per share		$ 15.52	$ 15.70	$ 16.39	$ 16.23
Granted, Shares		192,000	243,160	158,000
Granted, Weighted Average per Share Grant Date Fair Value		$ 14.92	$ 14.62	$ 16.63
Outstanding at end of year, Shares		820,209	628,209	385,049
Director Stock Units [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to stock option grants		$ 1,664	$ (91)	$ 4,023
Restricted stock transactions
Outstanding at beginning of year, Shares		358,404	322,379
Outstanding at end of year, Shares		419,962	358,404	322,379
[1]	Compensation expense associated with stock options accelerated in 2015 as a result of retirement provisions being met for certain stock option recipients.

Employee Benefit and Stock Pl86

Employee Benefit and Stock Plans (Details Textual) $ / shares in Units, $ in Thousands	12 Months Ended
	Nov. 30, 2015USD ($)$ / sharesshares	Nov. 30, 2014USD ($)$ / sharesshares	Nov. 30, 2013USD ($)$ / sharesshares	Apr. 03, 2014shares
Employee Benefit and Stock Plans (Textual) [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	1,262,000	1,273,647	550,000
Employee Benefit and Stock Plan (Additional Textual) [Abstract]
Exercises in period, total intrinsic value | $	$ 400	$ 300	$ 1,200
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	76,164	36,665	118,208
Intrinsic value of stock options outstanding | $	$ 16,400	$ 35,800	$ 32,300
Intrinsic value of stock options exercisable | $	$ 16,400	$ 31,700	$ 25,500
Weighted average fair value of stock options granted | $ / shares	$ 5.49	$ 5.07	$ 6.96
Tax shortfall from cancellation of stock awards | $	$ 1,700	$ 1,200	$ 700
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities | $	$ 157	$ 0	$ 0
Shares of common stock held in trust	10,135,461	10,335,461
Share Based payments award terms of Award	5 years	5 years	5 years
Stock Options
Employee Benefit and Stock Plans (Textual) [Abstract]
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition	1 year 8 months 11 days
Total unrecognized stock-based compensation expense related to unvested stock option awards | $	$ 5,000
Restricted Stock
Employee Benefit and Stock Plans (Textual) [Abstract]
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition	3 years
Minimum period of restriction imposed on share grant lapse	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 15.19	$ 15.34	$ 17.50
Outstanding at end of year, Shares	416,977	355,294	219,628
Total unrecognized stock-based compensation expense related to unvested stock option awards | $	$ 4,700
Performance Shares
Employee Benefit and Stock Plans (Textual) [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 14.92	$ 14.62	$ 16.63
Outstanding at end of year, Shares	820,209	628,209	385,049
Total unrecognized stock-based compensation expense related to unvested stock option awards | $	$ 9,800
Director Plan SARs [Domain]
Employee Benefit and Stock Plans (Textual) [Abstract]
Outstanding at end of year, Shares	452,983	452,983	388,884
Director Stock Units [Domain]
Employee Benefit and Stock Plans (Textual) [Abstract]
Outstanding at end of year, Shares	419,962	358,404	322,379
Maximum | Performance Shares
Employee Benefit and Stock Plans (Textual) [Abstract]
Grant, award share percentage	200.00%
Minimum | Performance Shares
Employee Benefit and Stock Plans (Textual) [Abstract]
Grant, award share percentage	0.00%
Equity Incentive Two Thousand Fourteen Plan [Member] [Member]
Employee Benefit and Stock Plans (Textual) [Abstract]
Number of shares authorized for issuance of stock based awards to employees				4,800,000
Grant of stock option, Reduce the plan share capacity per share				1
Grant of restricted stock, Reduce the Plan share capacity per share				1.78
Employee Benefit and Stock Plan (Additional Textual) [Abstract]
Share Based payments award terms of Award	10 years
2010 Equity Incentive Plan
Employee Benefit and Stock Plans (Textual) [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	0
Stock Appreciation Rights (SARs)
Employee Benefit and Stock Plans (Textual) [Abstract]
Minimum period of restriction imposed on share grant lapse	3 years
Outstanding at end of year, Shares	29,939	29,939	29,939
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date	Jul. 31, 2017
Saving Plan
Employee Benefit and Stock Plans (Textual) [Abstract]
Aggregate cost related to saving plan | $	$ 4,600	$ 3,800	$ 3,300
Net assets invested in funds consisting common stock	5.00%	6.00%	7.00%
Director Plan SARs [Domain]
Employee Benefit and Stock Plan (Additional Textual) [Abstract]
Share Based payments award terms of Award	15 years

Postretirement Benefits (Detail

Postretirement Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Postretirement Benefits Additional (Textual) [Abstract]
Interest cost	$ 2,270	$ 2,456	$ 2,078
Amortization of prior service cost	1,556	1,556	1,556
Service cost	1,142	1,184	1,504
Amortization of net actuarial loss	848	357	1,803
Total	5,816	5,553	6,941
Liabilities related to postretirement benefit plan	$ 60,800	$ 62,600
Discounted rate for benefit plan	3.60%	3.50%
Defined Benefit Plan Disclosure [Line Items]
Cash surrender value of insurance contracts	$ 67,786	$ 70,571
2,014	1,700
2,015	1,800
2,016	2,700
2,017	3,200
Defined Benefit Plan, Expected Future Benefit Payments, Year Five	3,400
2018 - 2022	19,200
Supplemental Nonqualified Unfunded Retirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Period Increase (Decrease)	(1,300)	1,800	3,100
Benefits paid	1,400	1,200	1,100
Cash surrender value of insurance contracts	45,700	48,100
Unfunded Death Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Period Increase (Decrease)	(300)	700	$ 1,400
Cash surrender value of insurance contracts	$ 16,800	$ 17,100

Supplemental Disclosure to Co88

Supplemental Disclosure to Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2012
Summary of cash and cash equivalents at the end of the period:
Cash and cash equivalents	$ 560,341	$ 358,768	$ 532,523	$ 525,688
Interest paid, net of amounts capitalized	22,486	13,037	64,520
Income taxes paid	3,612	1,619	800
Income taxes refunded	11	1,728	61
Supplemental disclosures of noncash activities:
Increase (decrease) in consolidated inventories not owned	106,807	(5,755)	4,798
Noncash or Part Noncash Acquisition, Inventory Acquired	20,291	61,553	27,600
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Incremental Compensation Cost	0	6,455	8,346
Homebuilding [Member]
Summary of cash and cash equivalents at the end of the period:
Cash and cash equivalents	559,042	356,366	530,095
Financial services [Member]
Summary of cash and cash equivalents at the end of the period:
Cash and cash equivalents	1,299	2,402	2,428
Inspirada Builders LLC [Member]
Supplemental disclosures of noncash activities:
Increase in Inventories Due to Distribution of Land From Equity Method Investments	12,705	90,115	0
Increase in Inventory and Inventory-Related Obligations Associated with TIFE	0	33,197	0
Water Intrusion [Member]
Summary of cash and cash equivalents at the end of the period:
Loss Contingency, Receivable	$ 7,238	$ 18,110	$ 0

Supplemental Guarantor Inform89

Supplemental Guarantor Information (Narrative) (Details)	12 Months Ended
	Nov. 30, 2015
Guarantees [Abstract]
Ownership share in guarantor subsidiaries	100.00%
Line of Credit Facility, Significant Subsidiary Threshold, Percent	5.00%
Line of Credit Facility, Non Guarantor Subsidiary Threshold, Percent	10.00%

Supplemental Guarantor Inform90

Supplemental Guarantor Information (Condensed Consolidating Statements of Operations) (Details) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
		Nov. 30, 2015	Aug. 31, 2015	May. 31, 2015	Feb. 28, 2015	Nov. 30, 2014	Aug. 31, 2014	May. 31, 2014	Feb. 28, 2014	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Condensed Consolidated Statements of Operations
Revenues		$ 985,783	$ 843,157	$ 622,969	$ 580,121	$ 796,041	$ 589,214	$ 565,007	$ 450,687	$ 3,032,030	$ 2,400,949	$ 2,097,130
Homebuilding:
Revenues										3,020,987	2,389,643	2,084,978
Construction and land costs										(2,539,368)	(1,985,651)	(1,737,086)
Selling, general and administrative expenses										(342,998)	(288,023)	(255,808)
Operating income (loss)										138,621	115,969	92,084
Interest income										458	443	792
Interest Expense	[1]									(21,856)	(30,750)	(62,690)
Intercompany Interest Income (Expense)										0	0	0
Equity in income (loss) of unconsolidated joint ventures										2,488	1,427	(933)
Pretax income (loss)		69,917	33,954	12,673	10,499	28,601	28,661	26,924	10,763	127,043	94,949	38,363
Income tax benefit						824,200				(42,400)	823,400	1,600
Income (Loss) from Subsidiaries, Net of Tax										0	0	0
Net income (loss)		$ 44,017	$ 23,254	$ 9,573	$ 7,799	$ 852,801	$ 28,361	$ 26,624	$ 10,563	84,643	918,349	39,963
KB Home Corporate
Condensed Consolidated Statements of Operations
Revenues										0	0	0
Homebuilding:
Revenues										0	0	0
Construction and land costs										0	0	0
Selling, general and administrative expenses										(86,053)	(68,717)	(60,545)
Operating income (loss)										(86,053)	(68,717)	(60,545)
Interest income										451	432	768
Interest Expense										(180,701)	(165,485)	(143,902)
Intercompany Interest Income (Expense)										289,727	287,017	203,096
Equity in income (loss) of unconsolidated joint ventures										0	0
Pretax income (loss)										23,424	53,247	(583)
Income tax benefit										2,000	215,691	100
Income (Loss) from Subsidiaries, Net of Tax										59,219	649,411	40,446
Net income (loss)										84,643	918,349	39,963
Guarantor Subsidiaries
Condensed Consolidated Statements of Operations
Revenues										2,653,372	2,031,564	1,792,040
Homebuilding:
Revenues										2,653,372	2,031,564	1,792,040
Construction and land costs										(2,209,472)	(1,673,916)	(1,480,822)
Selling, general and administrative expenses										(213,292)	(176,795)	(151,923)
Operating income (loss)										230,608	180,853	159,295
Interest income										6	9	18
Interest Expense										(6,184)	(6,056)	(5,199)
Intercompany Interest Income (Expense)										(109,208)	(127,191)	(102,172)
Equity in income (loss) of unconsolidated joint ventures										(1,803)	(2,549)
Pretax income (loss)										113,419	45,066	49,439
Income tax benefit										(42,700)	551,203	1,800
Income (Loss) from Subsidiaries, Net of Tax										0	0	0
Net income (loss)										70,719	596,269	51,239
Non-Guarantor Subsidiaries
Condensed Consolidated Statements of Operations
Revenues										378,658	369,385	305,090
Homebuilding:
Revenues										367,615	358,079	292,938
Construction and land costs										(329,896)	(311,735)	(256,264)
Selling, general and administrative expenses										(43,653)	(42,511)	(43,340)
Operating income (loss)										(5,934)	3,833	(6,666)
Interest income										1	2	6
Interest Expense										0	0	0
Intercompany Interest Income (Expense)										(15,490)	(19,035)	(14,513)
Equity in income (loss) of unconsolidated joint ventures										(1)	3,290
Pretax income (loss)										(9,800)	(3,364)	(10,493)
Income tax benefit										(1,700)	56,506	(300)
Income (Loss) from Subsidiaries, Net of Tax										0	0	0
Net income (loss)										(11,500)	53,142	(10,793)
Consolidating Adjustments
Condensed Consolidated Statements of Operations
Revenues										0	0	0
Homebuilding:
Revenues										0	0	0
Construction and land costs										0	0	0
Selling, general and administrative expenses										0	0	0
Operating income (loss)										0	0	0
Interest income										0	0	0
Interest Expense										165,029	140,791	86,411
Intercompany Interest Income (Expense)										(165,029)	(140,791)	(86,411)
Equity in income (loss) of unconsolidated joint ventures										0	0
Pretax income (loss)										0	0	0
Income tax benefit										0	0	0
Income (Loss) from Subsidiaries, Net of Tax										(59,219)	(649,411)	(40,446)
Net income (loss)										(59,219)	(649,411)	(40,446)
Homebuilding [Member]
Condensed Consolidated Statements of Operations
Revenues										3,020,987	2,389,643	2,084,978
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures										(1,804)	741	(2,007)
Pretax income (loss)										115,419	86,403	28,179
Homebuilding [Member] | KB Home Corporate
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures												0
Pretax income (loss)										23,424	53,247	(583)
Homebuilding [Member] | Guarantor Subsidiaries
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures												(2,503)
Pretax income (loss)										113,419	45,066	49,439
Homebuilding [Member] | Non-Guarantor Subsidiaries
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures												496
Pretax income (loss)										(21,424)	(11,910)	(20,677)
Homebuilding [Member] | Consolidating Adjustments
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures												0
Pretax income (loss)										0	0	0
Financial services [Member]
Condensed Consolidated Statements of Operations
Revenues										11,043	11,306	12,152
Homebuilding:
Operating income (loss)										7,332	7,860	9,110
Equity in income (loss) of unconsolidated joint ventures										4,292	686	1,074
Pretax income (loss)										11,624	8,546	10,184
Financial services [Member] | KB Home Corporate
Homebuilding:
Pretax income (loss)										0	0	0
Financial services [Member] | Guarantor Subsidiaries
Homebuilding:
Pretax income (loss)										0	0	0
Financial services [Member] | Non-Guarantor Subsidiaries
Homebuilding:
Pretax income (loss)										11,624	8,546	10,184
Financial services [Member] | Consolidating Adjustments
Homebuilding:
Pretax income (loss)										$ 0	$ 0	$ 0
[1]	Amounts for the year ended November 30, 2013 included losses on the early extinguishment of debt of $10.4 million associated with the purchase and retirement of certain senior notes ahead of their maturity.

Supplemental Guarantor Inform91

Supplemental Guarantor Information (Condensed Consolidating Statements of Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Nov. 30, 2015	Aug. 31, 2015	May. 31, 2015	Feb. 28, 2015	Nov. 30, 2014	Aug. 31, 2014	May. 31, 2014	Feb. 28, 2014	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Net income (loss)	$ 44,017	$ 23,254	$ 9,573	$ 7,799	$ 852,801	$ 28,361	$ 26,624	$ 10,563	$ 84,643	$ 918,349	$ 39,963
Other Comprehensive Income (Loss), before Reclassifications, before Tax									6,149	(1,888)	10,442
Other Comprehensive Income (Loss), before Tax									6,149	(1,888)	10,442
Income tax expense related to items of other comprehensive income									(2,460)	(1,604)	0
Other comprehensive income (loss), net of tax									3,689	(3,492)	10,442
Comprehensive income									88,332	914,857	50,405
KB Home Corporate
Net income (loss)									84,643	918,349	39,963
Other Comprehensive Income (Loss), before Reclassifications, before Tax									6,149	(1,888)	10,442
Other Comprehensive Income (Loss), before Tax									6,149	(1,888)
Income tax expense related to items of other comprehensive income									(2,460)	(1,604)
Other comprehensive income (loss), net of tax									3,689	(3,492)	10,442
Comprehensive income									88,332	914,857	50,405
Guarantor Subsidiaries
Net income (loss)									70,719	596,269	51,239
Other Comprehensive Income (Loss), before Reclassifications, before Tax									0	0	0
Other Comprehensive Income (Loss), before Tax									0	0
Income tax expense related to items of other comprehensive income									0	0
Other comprehensive income (loss), net of tax									0	0	0
Comprehensive income									70,719	596,269	51,239
Non-Guarantor Subsidiaries
Net income (loss)									(11,500)	53,142	(10,793)
Other Comprehensive Income (Loss), before Reclassifications, before Tax									0	0	0
Other Comprehensive Income (Loss), before Tax									0	0
Income tax expense related to items of other comprehensive income									0	0
Other comprehensive income (loss), net of tax									0	0	0
Comprehensive income									(11,500)	53,142	(10,793)
Consolidating Adjustments
Net income (loss)									(59,219)	(649,411)	(40,446)
Other Comprehensive Income (Loss), before Reclassifications, before Tax									0	0	0
Other Comprehensive Income (Loss), before Tax									0	0
Income tax expense related to items of other comprehensive income									0	0
Other comprehensive income (loss), net of tax									0	0	0
Comprehensive income									$ (59,219)	$ (649,411)	$ (40,446)

Supplemental Guarantor Inform92

Supplemental Guarantor Information (Condensed Consolidating Balance Sheets) (Details) - USD ($) $ in Thousands	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013	Nov. 30, 2012
Assets
Cash and cash equivalents	$ 560,341	$ 358,768	$ 532,523	$ 525,688
Restricted cash	9,344	27,235
Receivables	152,682	125,488
Inventory, Operative Builders	3,313,747	3,218,387
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	71,558	79,441
Deferred tax assets, net	782,196	825,232
Other assets	112,774	114,915
Investments in subsidiaries	0	0
Total assets	5,015,371	4,757,550
Due from Affiliates	0	0
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities	697,184	582,598
Notes payable	2,625,536	2,576,525
Financial services	1,817	2,517
Due to Affiliate	0	0
Stockholder's equity	1,690,834	1,595,910	536,086	376,806
Total liabilities and Stockholders' equity	5,015,371	4,757,550
KB Home Corporate
Assets
Cash and cash equivalents	444,850	303,280	476,847	457,007
Restricted cash	9,344	27,235
Receivables	39	15
Inventory, Operative Builders	0	0
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	0	0
Deferred tax assets, net	190,770	215,923
Other assets	97,590	99,099
Investments in subsidiaries	39,383	39,356
Total assets	4,409,126	4,267,520
Due from Affiliates	3,627,150	3,582,612
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities	136,352	138,298
Notes payable	2,564,762	2,513,165
Financial services	0	0
Due to Affiliate	17,178	20,147
Stockholder's equity	1,690,834	1,595,910
Total liabilities and Stockholders' equity	4,409,126	4,267,520
Guarantor Subsidiaries
Assets
Cash and cash equivalents	98,281	37,112	37,957	49,218
Restricted cash	0	0
Receivables	148,338	120,857
Inventory, Operative Builders	2,979,617	2,847,415
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	69,057	76,940
Deferred tax assets, net	501,454	552,653
Other assets	11,783	13,136
Investments in subsidiaries	0	0
Total assets	3,808,530	3,648,113
Due from Affiliates	0	0
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities	442,529	317,550
Notes payable	60,774	63,360
Financial services	0	0
Due to Affiliate	3,305,227	3,267,203
Stockholder's equity	0	0
Total liabilities and Stockholders' equity	3,808,530	3,648,113
Non-Guarantor Subsidiaries
Assets
Cash and cash equivalents	17,210	18,376	17,719	19,463
Restricted cash	0	0
Receivables	4,305	4,616
Inventory, Operative Builders	334,130	370,972
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	2,501	2,501
Deferred tax assets, net	89,972	56,656
Other assets	3,401	2,680
Investments in subsidiaries	0	0
Total assets	566,351	576,804
Due from Affiliates	102,103	112,919
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities	118,303	126,750
Notes payable	0	0
Financial services	1,817	2,517
Due to Affiliate	406,848	408,181
Stockholder's equity	39,383	39,356
Total liabilities and Stockholders' equity	566,351	576,804
Consolidating Adjustments
Assets
Cash and cash equivalents	0	0	0	$ 0
Restricted cash	0	0
Receivables	0	0
Inventory, Operative Builders	0	0
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	0	0
Deferred tax assets, net	0	0
Other assets	0	0
Investments in subsidiaries	(39,383)	(39,356)
Total assets	(3,768,636)	(3,734,887)
Due from Affiliates	(3,729,253)	(3,695,531)
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities	0	0
Notes payable	0	0
Financial services	0	0
Due to Affiliate	(3,729,253)	(3,695,531)
Stockholder's equity	(39,383)	(39,356)
Total liabilities and Stockholders' equity	(3,768,636)	(3,734,887)
Homebuilding [Member]
Assets
Cash and cash equivalents	559,042	356,366	530,095
Total assets	5,001,343	4,747,064
Liabilities and stockholders' equity
Total Homebuilding	3,322,720	3,159,123
Homebuilding [Member] | KB Home Corporate
Assets
Cash and cash equivalents	444,850	303,280
Total assets	742,593	645,552
Liabilities and stockholders' equity
Total Homebuilding	2,701,114	2,651,463
Homebuilding [Member] | Guarantor Subsidiaries
Assets
Cash and cash equivalents	98,281	37,112
Total assets	3,808,530	3,648,113
Liabilities and stockholders' equity
Total Homebuilding	503,303	380,910
Homebuilding [Member] | Non-Guarantor Subsidiaries
Assets
Cash and cash equivalents	15,911	15,974
Total assets	450,220	453,399
Liabilities and stockholders' equity
Total Homebuilding	118,303	126,750
Homebuilding [Member] | Consolidating Adjustments
Assets
Cash and cash equivalents	0	0
Total assets	0	0
Liabilities and stockholders' equity
Total Homebuilding	0	0
Financial services [Member]
Assets
Cash and cash equivalents	1,299	2,402	$ 2,428
Receivables	2,245	1,738
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	10,440	6,149
Other assets	44	197
Total assets	14,028	10,486
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities	1,817	2,517
Financial services [Member] | KB Home Corporate
Assets
Total assets	0	0
Financial services [Member] | Guarantor Subsidiaries
Assets
Total assets	0	0
Financial services [Member] | Non-Guarantor Subsidiaries
Assets
Total assets	14,028	10,486
Financial services [Member] | Consolidating Adjustments
Assets
Total assets	$ 0	$ 0

Supplemental Guarantor Inform93

Supplemental Guarantor Information (Condensed Consolidated Statements of Cash Flows) (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Condensed Consolidated Statements of Cash Flows
Net cash provided by (used in) operating activities	$ 181,185	$ (630,691)	$ (443,486)
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	(20,626)	(49,097)	(14,359)
Return of investments in unconsolidated joint ventures	14,000	0	0
Proceeds from sale of investment in unconsolidated joint venture	0	10,110	0
Purchases of property and equipment, net	(4,677)	(5,795)	(2,391)
Intercompany	0	0	0
Net cash used in investing activities	(11,303)	(44,782)	(16,750)
Cash flows from financing activities:
Change in restricted cash	17,891	14,671	456
Proceeds from issuance of debt	250,000	400,000	680,000
Payment of debt issuance costs	(4,561)	(5,448)	(16,525)
Repayment of senior notes	(199,906)	0	(225,394)
Payments on mortgages and land contracts due to land sellers and other loans	(22,877)	(36,918)	(66,296)
Proceeds from issuance of common stock, net	0	137,045	109,503
Issuance of common stock under employee stock plans	740	1,896	2,181
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities	157	0	0
Payments of cash dividends	(9,186)	(8,982)	(8,366)
Stock repurchases	(567)	(546)	(8,488)
Intercompany	0	0	0
Net cash provided by financing activities	31,691	501,718	467,071
Net increase (decrease) in cash and cash equivalents	201,573	(173,755)	6,835
Cash and cash equivalents at beginning of year	358,768	532,523	525,688
Cash and cash equivalents at end of year	560,341	358,768	532,523
KB Home Corporate
Condensed Consolidated Statements of Cash Flows
Net cash provided by (used in) operating activities	44,422	82,629	4,795
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	0	0	0
Return of investments in unconsolidated joint ventures	0
Proceeds from sale of investment in unconsolidated joint venture		0
Purchases of property and equipment, net	(2,890)	(208)	(519)
Intercompany	45,470	(794,624)	(517,803)
Net cash used in investing activities	42,580	(794,832)	(518,322)
Cash flows from financing activities:
Change in restricted cash	17,891	14,671	456
Proceeds from issuance of debt	250,000	400,000	680,000
Payment of debt issuance costs	(4,561)	(5,448)	(16,525)
Repayment of senior notes	(199,906)		(225,394)
Payments on mortgages and land contracts due to land sellers and other loans	0	0	0
Proceeds from issuance of common stock, net		137,045	109,503
Issuance of common stock under employee stock plans	740	1,896	2,181
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities	157
Payments of cash dividends	(9,186)	(8,982)	(8,366)
Stock repurchases	(567)	(546)	(8,488)
Intercompany	0	0	0
Net cash provided by financing activities	54,568	538,636	533,367
Net increase (decrease) in cash and cash equivalents	141,570	(173,567)	19,840
Cash and cash equivalents at beginning of year	303,280	476,847	457,007
Cash and cash equivalents at end of year	444,850	303,280	476,847
Guarantor Subsidiaries
Condensed Consolidated Statements of Cash Flows
Net cash provided by (used in) operating activities	125,068	(643,702)	(457,390)
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	(20,625)	(48,846)	(9,334)
Return of investments in unconsolidated joint ventures	14,000
Proceeds from sale of investment in unconsolidated joint venture		0
Purchases of property and equipment, net	(1,704)	(4,412)	(1,254)
Intercompany	0	0	0
Net cash used in investing activities	(8,329)	(53,258)	(10,588)
Cash flows from financing activities:
Change in restricted cash	0	0	0
Proceeds from issuance of debt	0	0	0
Payment of debt issuance costs	0	0	0
Repayment of senior notes	0		0
Payments on mortgages and land contracts due to land sellers and other loans	(22,877)	(36,918)	(66,296)
Proceeds from issuance of common stock, net		0	0
Issuance of common stock under employee stock plans	0	0	0
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities	0
Payments of cash dividends	0	0	0
Stock repurchases	0	0	0
Intercompany	(32,693)	733,033	523,013
Net cash provided by financing activities	(55,570)	696,115	456,717
Net increase (decrease) in cash and cash equivalents	61,169	(845)	(11,261)
Cash and cash equivalents at beginning of year	37,112	37,957	49,218
Cash and cash equivalents at end of year	98,281	37,112	37,957
Non-Guarantor Subsidiaries
Condensed Consolidated Statements of Cash Flows
Net cash provided by (used in) operating activities	11,695	(69,618)	9,109
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	(1)	(251)	(5,025)
Return of investments in unconsolidated joint ventures	0
Proceeds from sale of investment in unconsolidated joint venture		10,110
Purchases of property and equipment, net	(83)	(1,175)	(618)
Intercompany	0	0	0
Net cash used in investing activities	(84)	8,684	(5,643)
Cash flows from financing activities:
Change in restricted cash	0	0	0
Proceeds from issuance of debt	0	0	0
Payment of debt issuance costs	0	0	0
Repayment of senior notes	0		0
Payments on mortgages and land contracts due to land sellers and other loans	0	0	0
Proceeds from issuance of common stock, net		0	0
Issuance of common stock under employee stock plans	0	0	0
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities	0
Payments of cash dividends	0	0	0
Stock repurchases	0	0	0
Intercompany	(12,777)	61,591	(5,210)
Net cash provided by financing activities	(12,777)	61,591	(5,210)
Net increase (decrease) in cash and cash equivalents	(1,166)	657	(1,744)
Cash and cash equivalents at beginning of year	18,376	17,719	19,463
Cash and cash equivalents at end of year	17,210	18,376	17,719
Consolidating Adjustments
Condensed Consolidated Statements of Cash Flows
Net cash provided by (used in) operating activities	0	0	0
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	0	0	0
Return of investments in unconsolidated joint ventures	0
Proceeds from sale of investment in unconsolidated joint venture		0
Purchases of property and equipment, net	0	0	0
Intercompany	(45,470)	794,624	517,803
Net cash used in investing activities	(45,470)	794,624	517,803
Cash flows from financing activities:
Change in restricted cash	0	0	0
Proceeds from issuance of debt	0	0	0
Payment of debt issuance costs	0	0	0
Repayment of senior notes	0		0
Payments on mortgages and land contracts due to land sellers and other loans	0	0	0
Proceeds from issuance of common stock, net		0	0
Issuance of common stock under employee stock plans	0	0	0
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities	0
Payments of cash dividends	0	0	0
Stock repurchases	0	0	0
Intercompany	45,470	(794,624)	(517,803)
Net cash provided by financing activities	45,470	(794,624)	(517,803)
Net increase (decrease) in cash and cash equivalents	0	0	0
Cash and cash equivalents at beginning of year	0	0	0
Cash and cash equivalents at end of year	$ 0	$ 0	$ 0

Quarterly Results (unaudited)94

Quarterly Results (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended								12 Months Ended
		Nov. 30, 2015	Aug. 31, 2015	May. 31, 2015	Feb. 28, 2015	Nov. 30, 2014	Aug. 31, 2014	May. 31, 2014	Feb. 28, 2014	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Loss Contingencies [Line Items]
Impairment of Real Estate						$ 34,200				$ 8,030	$ 37,628	$ 391
Equity Method Investment, Realized Gain (Loss) on Disposal												1,100
Product Warranty Accrual, Preexisting, Increase (Decrease)	[1]									(7,238)	(17,471)	(31,959)
Valuation Allowance, Deferred Tax Asset, Change in Amount						(825,200)				(3,400)		(20,700)
Revenues		$ 985,783	$ 843,157	$ 622,969	$ 580,121	796,041	$ 589,214	$ 565,007	$ 450,687	3,032,030	2,400,949	2,097,130
Gross profits		171,482	133,099	97,631	86,739	114,765	108,931	107,595	80,561
Pretax income (loss)		69,917	33,954	12,673	10,499	28,601	28,661	26,924	10,763	127,043	94,949	38,363
Net income (loss)		$ 44,017	$ 23,254	$ 9,573	$ 7,799	$ 852,801	$ 28,361	$ 26,624	$ 10,563	$ 84,643	$ 918,349	$ 39,963
Earnings (Loss) Per Share, Diluted, in dollars per share		$ 0.43	$ 0.23	$ 0.10	$ 0.08	$ 8.36	$ 0.28	$ 0.27	$ 0.12	$ 0.85	$ 9.25	$ 0.46
Earnings (Loss) Per Share, Basic, in dollars per share		$ 0.48	$ 0.25	$ 0.10	$ 0.08	$ 9.25	$ 0.31	$ 0.30	$ 0.13	$ 0.92	$ 10.26	$ 0.48
Land Option Contract Abandonment [Member]
Loss Contingencies [Line Items]
Loss on Contract Termination										$ 1,561	$ 1,803	$ 3,190
Crown Farm Investor, LLC [Domain]
Loss Contingencies [Line Items]
Equity Method Investment, Realized Gain (Loss) on Disposal									$ 3,200
[1]	As discussed below, adjustments in 2015 and 2014 were primarily comprised of the reclassification of estimated minimum probable recoveries to receivables. Adjustments in 2014 also included a reclassification of estimated minimum probable recoveries to establish a separate accrual for a water intrusion-related inquiry. Adjustments in 2013 were comprised of charges associated with water intrusion-related issues in central and southwest Florida.

Subsequent Event (Details)

Subsequent Event (Details) - USD ($) $ in Thousands	Jan. 22, 2016	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013	Jan. 12, 2016
Subsequent Event [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased		4,000,000
Payments for Repurchase of Common Stock		$ 567	$ 546	$ 8,488
Subsequent Event [Member]
Subsequent Event [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased					10,000,000
Stock Repurchased During Period, Shares	3,025,000
Payments for Repurchase of Common Stock	$ 30,500