KB Home (KBH) 10-K 27 Jan 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Nov. 30, 2016	Dec. 31, 2016	May 31, 2016
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, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
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			$ 1,310,456,995
Entity Common Stock Shares Outstanding		85,072,695

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended									12 Months Ended
	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2015	Aug. 31, 2015	May 31, 2015	Feb. 28, 2015	Nov. 30, 2014	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Total revenues	$ 1,191,942	$ 913,283	$ 811,050	$ 678,371	$ 985,783	$ 843,157	$ 622,969	$ 580,121		$ 3,594,646	$ 3,032,030	$ 2,400,949
Homebuilding:
Revenues										3,582,943	3,020,987	2,389,643
Construction and land costs										(3,041,101)	(2,539,368)	(1,985,651)
Selling, general and administrative expenses										(389,441)	(342,998)	(288,023)
Operating income										152,401	138,621	115,969
Interest income										529	458	443
Interest expense										(5,900)	(21,856)	(30,750)
Equity in income (loss) of unconsolidated joint ventures										(5,601)	2,488	1,427
Financial services:
Revenues										11,703	11,043	11,306
Expenses										(3,817)	(3,711)	(3,446)
Pretax income (loss)	55,028	53,463	24,797	16,027	69,917	33,954	12,673	10,499		149,315	127,043	94,949
Income tax benefit (expense)									$ 824,200	(43,700)	(42,400)	823,400
Net income	$ 37,528	$ 39,363	$ 15,597	$ 13,127	$ 44,017	$ 23,254	$ 9,573	$ 7,799		$ 105,615	$ 84,643	$ 918,349
Earnings per share: Basic (usd per share)	$ 0.44	$ 0.46	$ 0.18	$ 0.15	$ 0.48	$ 0.25	$ 0.10	$ 0.08		$ 1.23	$ 0.92	$ 10.26
Earnings per share: Diluted (usd per share)	$ 0.40	$ 0.42	$ 0.17	$ 0.14	$ 0.43	$ 0.23	$ 0.10	$ 0.08		$ 1.12	$ 0.85	$ 9.25
Weighted average shares outstanding: Basic (shares)										85,706	92,054	89,265
Weighted average shares outstanding: Diluted (shares)										96,278	102,857	99,314
Homebuilding [Member]
Total revenues										$ 3,582,943	$ 3,020,987	$ 2,389,643
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures										(2,181)	(1,804)	741
Financial services:
Pretax income (loss)										144,849	115,419	86,403
Financial services [Member]
Homebuilding:
Operating income										7,886	7,332	7,860
Equity in income (loss) of unconsolidated joint ventures										(3,420)	4,292	686
Financial services:
Pretax income (loss)										$ 4,466	$ 11,624	$ 8,546

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income Statement - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 105,615	$ 84,643	$ 918,349
Net actuarial gain (loss) arising during the period	468	3,745	(3,801)
Amortization of net actuarial loss	79	848	357
Amortization of prior service cost	1,556	1,556	1,556
Other comprehensive income (loss) before tax	2,103	6,149	(1,888)
Income tax expense related to items of other comprehensive income	(841)	(2,460)	(1,604)
Other comprehensive income (loss), net of tax	1,262	3,689	(3,492)
Comprehensive income	$ 106,877	$ 88,332	$ 914,857

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Nov. 30, 2016	Nov. 30, 2015
Assets
Cash and cash equivalents	$ 593,000	$ 560,341
Restricted cash	0	9,344
Receivables	231,665	247,998
Inventories	3,403,228	3,313,747
Investments in unconsolidated joint ventures	64,016	71,558
Deferred tax assets, net	738,985	782,196
Other assets	91,145	88,992
Total assets	5,131,624	5,086,905
Liabilities and stockholders' equity
Accounts payable	215,331	183,770
Accrued expenses and other liabilities	550,996	608,730
Notes payable	2,640,149	2,601,754
Financial services	2,003	1,817
Stockholders' equity:
Preferred stock — $1.00 par value; 10,000,000 shares authorized; none issued	0	0
Common stock — $1.00 par value; 290,000,000 shares authorized at November 30, 2016 and 2015; 116,224,208 and 115,547,682 shares issued at November 30, 2016 and 2015, respectively	116,224	115,548
Paid-in capital	696,938	682,871
Retained earnings	1,563,742	1,466,713
Accumulated other comprehensive loss	(16,057)	(17,319)
Grantor stock ownership trust, at cost: 9,431,756 and 10,135,461 shares at November 30, 2016 and 2015, respectively	(102,300)	(109,936)
Treasury stock, at cost: 21,719,757 and 13,136,563 shares at November 30, 2016 and 2015, respectively	(535,402)	(447,043)
Total stockholder's equity	1,723,145	1,690,834
Total liabilities and stockholders' equity	5,131,624	5,086,905
Homebuilding [Member]
Assets
Cash and cash equivalents	592,086	559,042
Total assets	5,121,125	5,072,877
Liabilities and stockholders' equity
Total Homebuilding	3,406,476	3,394,254
Financial services [Member]
Assets
Cash and cash equivalents	914	1,299
Receivables	1,764	2,245
Investments in unconsolidated joint ventures	7,771	10,440
Other assets	50	44
Total assets	$ 10,499	$ 14,028

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Nov. 30, 2016	Nov. 30, 2015
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	116,224,208	115,547,682
Grantor stock ownership trust	9,431,756	10,135,461
Treasury stock, shares	21,719,757	13,136,563

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, 2013		(115,296,000)	(10,502,000)	(21,050,000)
Beginning balance at Nov. 30, 2013	$ 536,086	$ 115,296	$ (113,911)	$ (718,565)	$ 788,893	$ 481,889	$ (17,516)
Net income	918,349					918,349
Other comprehensive income, 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	$ 1,896	$ 37			1,859
Conversion of liability awards to equity awards	6,455				6,455
Stock awards, shares		54,000	166,000
Stock awards	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	137,045			$ 272,635	(135,590)
Stock repurchases, shares				(33,000)
Stock repurchases	(546)			$ (546)
Ending balance, shares at Nov. 30, 2014		(115,387,000)	(10,336,000)	(13,097,000)
Ending balance at Nov. 30, 2014	1,595,910	$ 115,387	$ (112,106)	$ (446,476)	668,857	1,391,256	(21,008)
Net income	84,643					84,643
Other comprehensive income, 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	$ (798)	$ 76			(874)
Stock awards, shares		85,000	200,000
Stock awards	0	$ 85	$ 2,170		(2,255)
Stock-based compensation	17,143				17,143
Stock repurchases, shares				(40,000)
Stock repurchases	(567)			$ (567)
Ending balance, shares at Nov. 30, 2015		(115,548,000)	(10,136,000)	(13,137,000)
Ending balance at Nov. 30, 2015	1,690,834	$ 115,548	$ (109,936)	$ (447,043)	682,871	1,466,713	(17,319)
Net income	105,615					105,615
Other comprehensive income, net of tax	1,262						1,262
Dividends on common stock	$ (8,586)					(8,586)
Employee stock options/other, shares	551,898	552,000
Employee stock options/other	$ 5,529	$ 552			4,977
Stock awards, shares		124,000	704,000
Stock awards	0	$ 124	$ 7,636		(7,760)
Stock-based compensation	16,850				16,850
Stock repurchases, shares				(8,583,000)
Stock repurchases	(88,359)			$ (88,359)
Ending balance, shares at Nov. 30, 2016		(116,224,000)	(9,432,000)	(21,720,000)
Ending balance at Nov. 30, 2016	$ 1,723,145	$ 116,224	$ (102,300)	$ (535,402)	$ 696,938	$ 1,563,742	$ (16,057)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Cash flows from operating activities:
Net income	$ 105,615,000	$ 84,643,000	$ 918,349,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in (income) loss of unconsolidated joint ventures	5,601,000	(2,488,000)	(1,427,000)
Distributions of earnings from unconsolidated joint ventures	0	0	364,000
Amortization of discounts and issuance costs	7,576,000	7,738,000	7,124,000
Depreciation and amortization	3,637,000	3,411,000	2,420,000
Deferred income taxes	43,211,000	43,036,000	(825,232,000)
Excess tax benefits from stock-based compensation	(186,000)	(157,000)	0
Stock-based compensation	16,850,000	17,143,000	9,099,000
Inventory impairments and land option contract abandonments	52,812,000	9,591,000	39,431,000
Changes in assets and liabilities:
Receivables	18,965,000	9,143,000	(4,998,000)
Inventories	(98,321,000)	34,852,000	(780,131,000)
Accounts payable, accrued expenses and other liabilities	32,723,000	(27,615,000)	9,219,000
Other, net	172,000	1,888,000	(4,909,000)
Net cash provided by (used in) operating activities	188,655,000	181,185,000	(630,691,000)
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	(5,602,000)	(20,626,000)	(49,097,000)
Return of investments in unconsolidated joint ventures	4,307,000	14,000,000	0
Proceeds from sale of investment in unconsolidated joint venture	0	0	10,110,000
Purchases of property and equipment, net	(4,784,000)	(4,677,000)	(5,795,000)
Net cash used in investing activities	(6,079,000)	(11,303,000)	(44,782,000)
Cash flows from financing activities:
Change in restricted cash	9,344,000	17,891,000	14,671,000
Proceeds from issuance of debt	0	250,000,000	400,000,000
Payment of debt issuance costs	0	(4,561,000)	(5,448,000)
Repayment of senior notes	0	(199,906,000)	0
Payments on mortgages and land contracts due to land sellers and other loans	(67,845,000)	(22,877,000)	(36,918,000)
Proceeds from issuance of common stock, net	0	0	137,045,000
Issuance of common stock under employee stock plans	5,343,000	740,000	1,896,000
Excess tax benefits from stock-based compensation	186,000	157,000	0
Payments of cash dividends	(8,586,000)	(9,186,000)	(8,982,000)
Stock repurchases	(88,359,000)	(567,000)	(546,000)
Net cash provided by (used in) financing activities	(149,917,000)	31,691,000	501,718,000
Net increase (decrease) in cash and cash equivalents	32,659,000	201,573,000	(173,755,000)
Cash and cash equivalents at beginning of year	560,341,000	358,768,000	532,523,000
Cash and cash equivalents at end of year	$ 593,000,000	$ 560,341,000	$ 358,768,000

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Nov. 30, 2016
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, 2016 , we conducted ongoing operations in Arizona, California, Colorado, Florida, Nevada, North Carolina and Texas. 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. Until October 2016, we provided 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 estimates and judgments that affect the amounts reported in the 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 $396.1 million at November 30, 2016 and $342.3 million at November 30, 2015 . At November 30, 2016, the majority of our cash and cash equivalents was invested in interest-bearing bank deposit accounts. At November 30, 2015, the majority of our cash and cash equivalents was invested in money market funds and interest-bearing bank deposit accounts. Restricted cash at November 30, 2015 consisted of cash deposited with various financial institutions as required collateral for our LOC Facility. Receivables. Receivables are evaluated for collectibility at least quarterly, and allowances for potential losses are established or maintained on applicable receivables when collection is considered doubtful, taking into account historical experience, prevailing economic conditions and other relevant information. 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 $14.2 million , net of accumulated depreciation of $18.2 million , at November 30, 2016 , and $13.1 million , net of accumulated depreciation of $15.3 million , at November 30, 2015 . Depreciation expense totaled $3.6 million in 2016 , $3.4 million in 2015 and $2.4 million in 2014 . 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 costs of sales incentives in the form of free or discounted 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, are 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 associated 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 a real estate asset 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 associated 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 or land are being actively developed and until homes are completed or the land is available for immediate sale. 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 or sale, 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. For these real estate assets, fair value is determined based on the estimated future net cash flows discounted for inherent risk associated with each such asset, 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 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 liabilities based on the estimated costs required to cover reported claims, claims incurred but not yet reported, and claim adjustment expenses. These estimated costs are based on an actuarial analysis of our historical claims and expense data, as well as industry data. Our self-insurance liabilities are presented on a gross basis without consideration of insurance recoveries and amounts we have paid on behalf of and expect to recover from other parties, if any. Estimates of insurance recoveries and amounts we have paid on behalf of other parties, if any, are recorded as receivables when such recoveries are considered probable. Advertising Costs. We expense advertising costs as incurred. We incurred advertising costs of $32.7 million in 2016 , $33.4 million in 2015 and $30.2 million in 2014 . 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 to inventories in our consolidated balance sheets as incurred. We expensed legal fees of $13.6 million in 2016 , $11.7 million in 2015 and $10.9 million in 2014 . 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, SARs and Director Plan 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 in our consolidated balance sheets 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, 2016 and 2015 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, 2016 , 2015 or 2014 . Recent Accounting Pronouncements Not Yet Adopted. In May 2014, the Financial Accounting Standards Board (“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. 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. In 2016, the FASB issued accounting standards updates that amended several aspects of ASU 2014-09. ASU 2014-09, as amended, is effective for us beginning December 1, 2018 (with early adoption permitted beginning in our 2018 fiscal year) and allows for full retrospective or modified retrospective methods of adoption. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements, as well as the method we will use to adopt the new guidance, and have been involved in industry-specific discussions with the FASB on the treatment of certain items. We do not believe the adoption of ASU 2014-09 will have a material impact on the amount or timing of our homebuilding revenues. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). ASU 2016-02 will require lessees to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Under ASU 2016-02, a lessee will be required to recognize assets and liabilities for leases with terms of more than 12 months. Lessor accounting remains substantially similar to current GAAP. In addition, disclosures of leasing activities are to be expanded to include qualitative along with specific quantitative information. ASU 2016-02 will be effective for us beginning December 1, 2019 (with early adoption permitted). ASU 2016-02 mandates a modified retrospective transition method. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, “Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”). ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 will be effective for us beginning December 1, 2017 (with early adoption permitted). We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. In August 2016, the FASB issued Accounting Standards Update No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows. ASU 2016-15 will be effective for us beginning December 1, 2018 (with early adoption permitted). We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. In November 2016, the FASB issued Accounting Standards Update No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash” (“ASU 2016-18”). ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 will be effective for us beginning December 1, 2018 (with early adoption permitted) and will be applied using a retrospective transition method to each period presented. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. Adoption of New Accounting Pronouncement. 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. ASU 2015-03 is to be applied on a retrospective basis and represents a change in accounting principle. 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 elected to early adopt ASU 2015-03 effective November 30, 2016. The adoption of ASU 2015-03 resulted in the reclassification of unamortized debt issuance costs related to senior notes from other assets to notes payable in our consolidated balance sheets in the amount of $18.3 million at November 30, 2016 and $23.8 million at November 30, 2015. As permitted by ASU 2015-15, we elected not to reclassify unamortized debt issuance costs associated with our Credit Facility and continue to present such capitalized costs in other assets. 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, 2016
Segment Reporting [Abstract]
Segment Information	Segment Information We have identified five operating reporting segments, comprised of four homebuilding reporting segments and one financial services reporting segment. As of November 30, 2016 , our homebuilding reporting segments conducted ongoing operations in the following states: West Coast: California Southwest: Arizona and Nevada Central: Colorado and Texas Southeast: Florida and North Carolina Our homebuilding reporting segments are engaged in the acquisition and development of land primarily for residential purposes and offer a wide variety of homes that are designed to appeal to first-time, 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. Management evaluates segment performance primarily based on segment pretax results. In the 2016 second quarter, we announced that we had begun a transition out of the Metro Washington, D.C. market that is expected to be completed in 2017. Our operations in the Metro Washington, D.C. market consisted of communities in Maryland and Virginia, which are included in our Southeast homebuilding reporting segment, and represented 2% of our consolidated homebuilding revenues for the year ended November 30, 2016. We are constructing and delivering homes in our remaining communities in this market. We also have other land interests in this market that we intend to build out or sell. As described in Note 7 – Inventory Impairments and Land Option Contract Abandonments, we recorded inventory impairment and land option contract abandonment charges related to this transition during the year ended November 30, 2016. 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 the provision of title services. Prior to July 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. From July 2014 until October 2016, we provided 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. In the 2016 fourth quarter, we and Nationstar began the process to wind down HCM and transfer HCM’s operations and certain assets to Stearns Lending. Our homebuyers may select any lender of their choice to obtain mortgage financing for the purchase of their home. In the 2016 fourth quarter, a subsidiary of ours and a subsidiary of Stearns Lending entered into an agreement to form a mortgage banking joint venture in which we each have a 50.0% ownership interest. The unconsolidated joint venture, which had no impact on our consolidated statement of operations for the year ended November 30, 2016, is expected to begin offering services, including mortgage loan originations, to our homebuyers in most of our served markets by the end of our 2017 second quarter, subject to obtaining all requisite regulatory approvals and clearances. Our financial services reporting segment is separately reported in our consolidated financial statements. 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 management is responsible for, among other things, evaluating and selecting the geographic markets in which we operate, consistent with our overall business strategy; allocating capital resources to markets for land acquisition and development activities; making major personnel decisions related to employee compensation and benefits; and monitoring the financial and operational performance of our divisions. 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 homebuilding reporting segments (in thousands): Years Ended November 30, 2016 2015 2014 Revenues: West Coast $ 1,638,078 $ 1,402,264 $ 1,089,857 Southwest 447,473 398,242 199,504 Central 1,018,535 809,738 698,429 Southeast 478,857 410,743 401,853 Total $ 3,582,943 $ 3,020,987 $ 2,389,643 Pretax income (loss): West Coast $ 148,014 $ 127,946 $ 116,325 Southwest 38,807 31,718 6,015 Central 85,924 70,959 47,214 Southeast (29,385 ) (22,758 ) (11,158 ) Corporate and other (98,511 ) (92,446 ) (71,993 ) Total $ 144,849 $ 115,419 $ 86,403 Equity in income (loss) of unconsolidated joint ventures: West Coast $ (1,561 ) $ (1,106 ) $ (374 ) Southwest (618 ) (696 ) (2,176 ) Central — — — Southeast (2 ) (2 ) 3,291 Total $ (2,181 ) $ (1,804 ) $ 741 Inventory impairment charges: West Coast $ 8,209 $ 645 $ 27,285 Southwest 3,191 3,253 6,392 Central 10,633 — — Southeast 27,547 4,132 3,951 Total $ 49,580 $ 8,030 $ 37,628 Years Ended November 30, 2016 2015 2014 Land option contract abandonments: West Coast $ 769 $ 352 $ 554 Southwest 253 — — Central 460 225 995 Southeast 1,750 984 254 Total $ 3,232 $ 1,561 $ 1,803 November 30, 2016 2015 Inventories: Homes under construction West Coast $ 695,742 $ 535,795 Southwest 130,886 112,032 Central 297,290 263,345 Southeast 122,020 120,184 Subtotal 1,245,938 1,031,356 Land under development West Coast 820,088 788,607 Southwest 268,507 317,331 Central 456,508 421,783 Southeast 182,554 238,324 Subtotal 1,727,657 1,766,045 Land held for future development or sale West Coast 210,910 277,954 Southwest 122,927 104,677 Central 15,439 22,082 Southeast 80,357 111,633 Subtotal 429,633 516,346 Total $ 3,403,228 $ 3,313,747 Investments in unconsolidated joint ventures: West Coast $ 51,612 $ 54,360 Southwest 9,905 14,697 Central — — Southeast 2,499 2,501 Total $ 64,016 $ 71,558 Assets: West Coast $ 1,847,279 $ 1,740,299 Southwest 564,636 582,030 Central 909,497 829,811 Southeast 414,730 507,844 Corporate and other 1,384,983 1,412,893 Total $ 5,121,125 $ 5,072,877

Financial Services

Financial Services	12 Months Ended
	Nov. 30, 2016
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, 2016 2015 2014 Revenues Insurance commissions $ 6,728 $ 7,137 $ 6,566 Title services 4,975 3,905 3,593 Marketing services fees — — 1,147 Interest income — 1 — Total 11,703 11,043 11,306 Expenses General and administrative (3,817 ) (3,711 ) (3,446 ) Operating income 7,886 7,332 7,860 Equity in income (loss) of unconsolidated joint ventures (3,420 ) 4,292 686 Pretax income $ 4,466 $ 11,624 $ 8,546 November 30, 2016 2015 Assets Cash and cash equivalents $ 914 $ 1,299 Receivables 1,764 2,245 Investments in unconsolidated joint ventures 7,771 10,440 Other assets 50 44 Total assets $ 10,499 $ 14,028 Liabilities Accounts payable and accrued expenses $ 2,003 $ 1,817 Total liabilities $ 2,003 $ 1,817 The equity in loss of unconsolidated joint ventures in 2016 reflected fewer loan originations and higher overhead costs as well as the wind down of HCM, and included an increase in HCM’s reserves for potential future losses on certain loans it originated. While we believe we will not need to record any additional charges, it is reasonably possible that we may incur further losses with respect to our equity interest in future periods as the wind down of HCM is completed. Although we are currently unable to estimate the amount or range of such losses, if any, we believe they would not have a material impact on our consolidated financial statements. 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, 2016
Earnings Per Share [Abstract]
Earnings 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, 2016 2015 2014 Numerator: Net income $ 105,615 $ 84,643 $ 918,349 Less: Distributed earnings allocated to nonvested restricted stock (45 ) (33 ) (26 ) Less: Undistributed earnings allocated to nonvested restricted stock (508 ) (273 ) (2,667 ) Numerator for basic earnings per share 105,062 84,337 915,656 Effect of dilutive securities: Interest expense and amortization of debt issuance costs associated with convertible senior notes, net of taxes 2,667 2,667 2,667 Add: Undistributed earnings allocated to nonvested restricted stock 508 273 2,667 Less: Undistributed earnings reallocated to nonvested restricted stock (453 ) (244 ) (2,398 ) Numerator for diluted earnings per share $ 107,784 $ 87,033 $ 918,592 Denominator: Weighted average shares outstanding — basic 85,706 92,054 89,265 Effect of dilutive securities: Share-based payments 2,170 2,401 1,647 Convertible senior notes 8,402 8,402 8,402 Weighted average shares outstanding — diluted 96,278 102,857 99,314 Basic earnings per share $ 1.23 $ .92 $ 10.26 Diluted earnings per share $ 1.12 $ .85 $ 9.25 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 7.3 million , 8.0 million and 5.2 million shares of common stock were excluded from the diluted earnings per share calculations for 2016 , 2015 and 2014 , 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 applicable vesting conditions had not been satisfied.

Receivables

Receivables	12 Months Ended
	Nov. 30, 2016
Receivables [Abstract]
Receivables	Receivables Receivables consisted of the following (in thousands): November 30, 2016 2015 Due from utility companies, improvement districts and municipalities (a) $ 102,780 $ 92,082 Recoveries related to self-insurance claims (b) 84,476 95,316 Recoveries related to warranty and other claims (b) 14,609 23,836 Refundable deposits and bonds 13,665 12,355 Other 28,745 36,626 Subtotal 244,275 260,215 Allowance for doubtful accounts (12,610 ) (12,217 ) Total $ 231,665 $ 247,998 (a) These receivables 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, improvement district 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 improvement districts or municipalities. (b) As described in Note 15 – Commitments and Contingencies, in 2016, we reclassified estimated probable insurance and other recoveries from our self-insurance liability to receivables for all years presented.

Inventories

Inventories	12 Months Ended
	Nov. 30, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following (in thousands): November 30, 2016 2015 Homes under construction $ 1,245,938 $ 1,031,356 Land under development 1,727,657 1,766,045 Land held for future development or sale (a) 429,633 516,346 Total $ 3,403,228 $ 3,313,747 (a) Land held for sale totaled $63.4 million at November 30, 2016 and $5.7 million at November 30, 2015. 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 or extend sales momentum or for market conditions to improve. In some instances, we may activate or resume development activity for such 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 in 2016 and 2015. Land is generally considered held for sale when management commits to a plan to sell the land; the land is available for immediate sale in its present condition; an active program to locate a buyer and other actions required to complete the plan to sell have been initiated; the sale of the land is expected to be completed within one year; the land is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and it is unlikely that the plan to sell will be withdrawn or that significant changes to the plan will be made. Interest and real estate taxes are not capitalized on land held for future development or sale. In the 2016 fourth quarter, we changed our strategy related to certain land parcels that were either held for future development or under development and decided to monetize these assets through land sales, rather than build and sell homes on these parcels as previously intended. These parcels, which were classified as land held for sale at November 30, 2016, included land in excess of our near-term requirements; land where we now believe the necessary incremental investment in development is not justified; land located in areas outside of our served markets; and/or land entitled for certain product types that are not aligned with our primary product offerings. The majority of these land parcels are located in our Southeast homebuilding reporting segment. As discussed in Note 7 – Inventory Impairments and Land Option Contract Abandonments, we recognized inventory impairment charges to reduce the carrying values of these land parcels to their estimated fair values, less associated costs to sell. Our interest costs were as follows (in thousands): Years Ended November 30, 2016 2015 2014 Capitalized interest at beginning of year $ 288,442 $ 266,668 $ 216,681 Interest incurred 185,466 186,885 171,541 Interest expensed (5,900 ) (21,856 ) (30,750 ) Interest amortized to construction and land costs (a) (161,285 ) (143,255 ) (90,804 ) Capitalized interest at end of year (b) $ 306,723 $ 288,442 $ 266,668 (a) Interest amortized to construction and land costs for the years ended November 30, 2016 and 2015 included $.7 million and $16.4 million , respectively, related to land sales during the periods. (b) 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, 2016
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 68 , 35 and 32 communities or land parcels for recoverability during the years ended November 30, 2016 , 2015 and 2014 , respectively. The carrying value of those communities or land parcels evaluated was $423.1 million , $286.3 million and $266.9 million during the years ended November 30, 2016 , 2015 and 2014 , respectively. The year-over-year increase in the number and carrying value of communities evaluated for impairment in 2016 reflected our decisions to make changes in our operational strategies for specific communities or land parcels aimed at more quickly monetizing our investment in those inventories, as discussed further below. 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 are counted only once for each applicable year. 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. These factors may include 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, 2016 and 2015 , 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, excluding the Metro Washington, D.C. market, where we began a wind down of our operations in 2016, our inventory assessments as of November 30, 2016 considered an expected steady overall sales pace and average selling price performance for 2017 and beyond 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 or held for sale. Due to the short-term nature of active communities and land held for sale, 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. Our assessments of active communities, 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. The estimates, 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 their particular performance, and may vary among communities or land parcels and may vary over time. We record an inventory impairment charge on a community or land parcel that is active or held for future development when its carrying value 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 determined based on the estimated future net cash flows discounted for inherent risk associated with each such asset, or other valuation techniques. 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 one or more of 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. We record an inventory impairment charge on land held for sale when the carrying value of a land parcel is greater than its fair value. These real estate assets are written down to fair value, less associated costs to sell. The estimated fair values of such assets are generally based on bona fide letters of intent from outside parties, executed sales contracts, 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) 2016 2015 2014 Average selling price $216,200 - $977,400 $178,100 - $509,400 $216,100 - $316,800 Deliveries per month 1 - 4 2 - 4 1 - 4 Discount rate 17% - 20% 17% - 20% 17% - 19% (a) The ranges of inputs used in each period primarily reflect differences between the housing markets where each of the impacted communities are located, rather than fluctuations in prevailing market conditions. Based on the results of our evaluations, we recognized inventory impairment charges of $49.6 million in 2016 related to 30 communities or land parcels with a post-impairment fair value of $39.5 million that reflected our decisions to make changes in our operational strategies for specific communities or land parcels aimed at more quickly monetizing our investment in those inventories. Of these inventory impairment charges, $36.7 million related to certain land previously held for future development that we decided in the 2016 fourth quarter to monetize through land sales as discussed in Note 6 – Inventories; land that we are planning to sell in connection with the wind down of our Metro Washington, D.C. operations; and the sales of our last remaining land parcels in the Rio Grande Valley area of Texas, which closed in the 2016 second quarter. The remaining $12.9 million of inventory impairment charges reflected our decision to activate and thereby accelerate the overall timing for selling, building and delivering homes in certain of our California, Arizona and Florida communities that were previously held for future development, and to accelerate the overall pace for selling, building and delivering homes, primarily through lowering selling prices, at other communities in California and Metro Washington, D.C. If we change our strategy for any given asset, it is possible that we may recognize additional inventory impairment charges in the future. In 2015, we recognized inventory impairment charges of $8.0 million related to four communities with a post-impairment fair value of $12.0 million . We decided to change our operational strategy for these communities in order to monetize our investment more quickly primarily through lowering home selling prices or by accelerating the overall timing and pace for selling, building and delivering homes on land that had been held for future development. 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 then-softening conditions in the relevant submarkets. As of November 30, 2016 , the aggregate carrying value of our inventory that had been impacted by inventory impairment charges was $215.3 million , representing 28 communities and various other land parcels. 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. Our inventory controlled under land option contracts and other similar contracts is assessed to determine whether it continues to meet our investment return 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 $3.2 million corresponding to 744 lots in 2016, $1.6 million corresponding to 1,166 lots in 2015 and $1.8 million corresponding to 1,306 lots in 2014. Of the land option contract abandonment charges recognized for 2016, $1.4 million related to the wind down of our Metro Washington, D.C. operations. 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 inventory balance as of November 30, 2016 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, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities Unconsolidated Joint Ventures. 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 under the variable interest model to determine whether they are VIEs and, if so, whether we are the primary beneficiary. Based on our analysis, we determined that one of our joint ventures at November 30, 2016 was a VIE, but we were not the primary beneficiary of the VIE. At November 30, 2015 , we determined that none of our joint ventures were VIEs. All of our joint ventures at November 30, 2016 and 2015 were unconsolidated and accounted for under the equity method because we did not have a controlling financial interest. Land Option Contracts and Other Similar Contracts. In the ordinary course of our business, we enter into land option contracts and other similar contracts with third parties and unconsolidated entities 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 reduce our capital and financial commitments, including interest and other carrying costs. Under these contracts, we typically make a specified option payment 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, 2016 and 2015 , 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, 2016 November 30, 2015 Cash Deposits Aggregate Purchase Price Cash Deposits Aggregate Purchase Price Unconsolidated VIEs $ 24,910 $ 641,642 $ 32,436 $ 611,567 Other land option contracts and other similar contracts 17,919 431,954 22,101 576,140 Total $ 42,829 $ 1,073,596 $ 54,537 $ 1,187,707 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 $56.0 million at November 30, 2016 and $65.6 million at November 30, 2015. These pre-acquisition costs and cash deposits were included in inventories in our consolidated balance sheets. For land option contracts and other similar contracts where the land seller entity is not required to be consolidated under the variable interest model, we consider whether such contracts should be accounted for as financing arrangements. Land option contracts and other similar contracts that may be considered financing arrangements include those we enter into with third-party land financiers or developers in conjunction with such third parties acquiring a specific land parcel(s) on our behalf, at our direction, and those with other landowners where we or our designee make improvements to the optioned land parcel(s) during the applicable option period. For these land option contracts and other similar contracts, we record the remaining purchase price of the associated land parcel(s) in inventories on our consolidated balance sheet with a corresponding financing obligation if we determine that we are effectively compelled to exercise the option under the land option contract and purchase the optioned land parcel(s). In making this determination with respect to a land option contract, we consider the non-refundable deposit(s) we have made and any non-reimbursable expenditures we have incurred for land improvement activities or other items up to the assessment date; additional costs associated with abandoning the contract; and our commitments, if any, to incur non-reimbursable costs associated with the contract. As a result of our evaluations of land option contracts and other similar contracts for financing arrangements, we recorded inventories in our consolidated balance sheets, with a corresponding increase to accrued expenses and other liabilities, of $50.5 million at November 30, 2016 and $110.0 million at November 30, 2015 .

Investments in Unconsolidated J

Investments in Unconsolidated Joint Ventures	12 Months Ended
	Nov. 30, 2016
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. 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. 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 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, 2016 2015 2014 Revenues $ 46,389 $ 15,322 $ 12,538 Construction and land costs (50,566 ) (23,123 ) (10,790 ) Other expenses, net (4,465 ) (3,360 ) (1,476 ) Income (loss) $ (8,642 ) $ (11,161 ) $ 272 For the years ended November 30, 2016 , 2015 and 2014, 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, 2016 2015 Assets Cash $ 31,928 $ 23,309 Receivables 882 7,546 Inventories 165,385 175,196 Other assets 629 910 Total assets $ 198,824 $ 206,961 Liabilities and equity Accounts payable and other liabilities $ 19,880 $ 17,108 Notes payable (a) 44,381 39,064 Equity 134,563 150,789 Total liabilities and equity $ 198,824 $ 206,961 (a) One of our unconsolidated joint ventures has 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. Outstanding debt under the agreement 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, 2016 or 2015. The following table presents additional information relating to our investments in unconsolidated joint ventures (dollars in thousands): November 30, 2016 2015 Number of investments in unconsolidated joint ventures 7 7 Investments in unconsolidated joint ventures $ 64,016 $ 71,558 Number of unconsolidated joint venture lots controlled under land option contracts and other similar contracts 471 677 We and our partner in the unconsolidated joint venture that has 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 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, 2016 , 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 is material to our consolidated financial statements. Of the unconsolidated joint venture lots controlled under land option contracts and other similar contracts at November 30, 2016 , we are committed to purchase 121 lots from one of our unconsolidated joint ventures in quarterly takedowns over the next four years for an aggregate purchase price of $53.0 million under agreements that we entered into with the unconsolidated joint venture in 2016.

Other Assets

Other Assets	12 Months Ended
	Nov. 30, 2016
Other Assets [Abstract]
Other Assets	Other Assets Other assets consisted of the following (in thousands): November 30, 2016 2015 Cash surrender value of insurance contracts $ 70,829 $ 67,786 Property and equipment, net 14,240 13,100 Prepaid expenses 4,894 6,480 Debt issuance costs (a) 1,182 1,626 Total $ 91,145 $ 88,992 (a) As described in Note 1 – Summary of Significant Accounting Policies, in connection with our adoption of ASU 2015-03 effective November 30, 2016, unamortized debt issuance costs associated with our senior notes were retrospectively reclassified from other assets to notes payable in our consolidated balance sheets. The debt issuance costs reflected are associated with our Credit Facility.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	12 Months Ended
	Nov. 30, 2016
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, 2016 2015 Self-insurance and other litigation liabilities (a) $ 170,988 $ 191,812 Employee compensation and related benefits 130,352 114,456 Inventory-related obligations (b) 82,682 148,887 Accrued interest payable 67,411 62,645 Warranty liability 56,682 49,085 Customer deposits 18,175 14,563 Real estate and business taxes 14,370 14,255 Other 10,336 13,027 Total $ 550,996 $ 608,730 (a) As described in Note 15 – Commitments and Contingencies, in 2016, we reclassified estimated probable insurance and other recoveries from our self-insurance liability to receivables for all years presented. (b) 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, 2016
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 2016 Current $ (1,900 ) $ (1,000 ) $ (2,900 ) Deferred (28,700 ) (12,100 ) (40,800 ) Income tax expense $ (30,600 ) $ (13,100 ) $ (43,700 ) 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 Our income tax expense for 2016 and 2015 reflected the favorable net impact of $15.2 million and $5.6 million , respectively, of federal energy tax credits we earned from building energy-efficient homes, resulting in effective tax rates of 29.3% for 2016 and 33.4% for 2015. 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. Due to the effects of our deferred tax asset valuation allowance and changes in our unrecognized tax benefits, our effective tax rate in 2014 was not a meaningful item as our income tax amount was not directly correlated to our pretax income for that period. The majority of the federal energy tax credits for 2016 resulted from legislation enacted on December 18, 2015. Among other things, this legislation extended the availability of a business tax credit for building new energy-efficient homes through December 31, 2016. Prior to this legislation, the tax credit expired on December 31, 2014. The federal energy tax credits for 2015 were earned primarily from building energy-efficient homes in prior periods based on legislation enacted on December 19, 2014, which permitted retroactive application of the credits. 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, 2016 2015 Deferred tax liabilities: Capitalized expenses $ 116,551 $ 110,408 State taxes 65,766 68,866 Other 286 196 Total $ 182,603 $ 179,470 November 30, 2016 2015 Deferred tax assets: NOLs from 2006 through 2016 $ 350,329 $ 423,274 Tax credits 197,766 186,169 Inventory impairment and land option contract abandonment charges 176,555 179,828 Employee benefits 102,321 93,395 Warranty, legal and other accruals 51,448 49,655 Capitalized expenses 36,950 34,887 Partnerships and joint ventures 16,293 18,557 Depreciation and amortization 8,530 9,146 Other 6,196 4,537 Total 946,388 999,448 Valuation allowance (24,800 ) (37,782 ) Total 921,588 961,666 Deferred tax assets, net $ 738,985 $ 782,196 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, 2016 2015 2014 $ % $ % $ % Income tax expense computed at statutory rate $ (52,260 ) (35.0 )% $ (44,462 ) (35.0 )% $ (33,232 ) (35.0 )% Valuation allowance for deferred tax assets 12,982 8.7 3,356 2.6 825,232 869.1 Tax credits 4,447 3.0 6,926 5.5 1,875 2.0 Depreciation and amortization 1,842 1.2 3,183 2.5 15,765 16.6 Basis in unconsolidated joint ventures (86 ) (0.1 ) 1,617 1.3 10,441 11.0 NOL reconciliation (3,691 ) (2.5 ) (3,379 ) (2.7 ) 12,973 13.7 State taxes, net of federal income tax benefit (7,511 ) (5.0 ) (5,155 ) (4.1 ) (13,907 ) (14.7 ) Other, net 577 .4 (4,486 ) (3.5 ) 4,253 4.5 Income tax benefit (expense) $ (43,700 ) (29.3 )% $ (42,400 ) (33.4 )% $ 823,400 867.2 % 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. In our evaluation, we give more significant weight to evidence that is objective in nature as compared to subjective evidence. Also, more significant weight is given to evidence that directly relates to our then-current financial performance as compared to indirect or less current evidence. 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 in our consolidated balance sheets depends on applicable income tax rates. Our deferred tax assets of $763.8 million at November 30, 2016 and $820.0 million at November 30, 2015 were partially offset by valuation allowances of $24.8 million and $37.8 million , respectively. The deferred tax asset valuation allowance at November 30, 2016 was primarily related to certain state NOLs that had not met the “more likely than not” realization standard at that date. The valuation allowance at November 30, 2015 was mainly related to foreign tax credits and certain state NOLs that had not met the “more likely than not” realization standard as of that date. As of November 30, 2016, we needed to generate approximately $1.8 billion of pretax income in future periods before 2036 to realize our deferred tax assets. Based on the evaluation of our deferred tax assets as of November 30, 2016, we determined that most of our deferred tax assets would be realized. In 2016, we reduced our valuation allowance by $13.0 million , which reflected the expiration of foreign tax credits and the release of a valuation allowance associated with state NOLs that met the “more likely than not” realization standard, partly offset by the establishment of a valuation allowance for state NOLs related to the wind down of our Metro Washington, D.C. operations. In 2015, the valuation allowance was reduced by $3.4 million to account for the expiration of foreign 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 2014 fourth quarter, 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 at the time were more favorable than they had been in the then-recent past 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. 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 federal and state tax laws and corporate income tax rates 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 $204.2 million , if not utilized, will begin to expire in 2030 through 2033 . Depending on their applicable statutory period, the state NOL carryforwards of $146.1 million , if not utilized, will begin to expire between 2017 and 2036 . State NOL carryforwards of $.5 million and $1.7 million expired in 2016 and 2015, respectively. In addition, $104.9 million of our tax credits, if not utilized, will begin to expire in 2026 through 2036 . Included in the $104.9 million are $3.2 million of investment tax credits, of which $2.4 million and $.8 million will expire in 2026 and 2027 , respectively. 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, 2016 2015 2014 Balance at beginning of year $ 56 $ 206 $ 206 Reductions due to lapse of statute of limitations — (150 ) — Balance at end of year $ 56 $ 56 $ 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 each of November 30, 2016 , 2015 and 2014 , there was a balance of $.1 million of gross unrecognized tax benefits (including interest and penalties) that, if recognized, would affect our annual effective tax rate. Our liabilities for unrecognized tax benefits at November 30, 2016 and 2015 are included in accrued expenses and other liabilities in our consolidated balance sheets. As of November 30, 2016 and 2015, there were no tax positions for which the ultimate deductibility is highly certain but the timing of such deductibility is uncertain. Our total accrued interest and penalties related to unrecognized income tax benefits was zero at both November 30, 2016 and 2015. 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, 2016 , 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 applicable statute of limitations. The fiscal years ending 2013 and later remain open to federal examinations, while 2012 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, 2016 , 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, 2016
Debt Disclosure [Abstract]
Notes Payable	Notes Payable Notes payable consisted of the following (in thousands): November 30, 2016 2015 Mortgages and land contracts due to land sellers and other loans (at interest rates of 1% to 7% at November 30, 2016 and 4% to 7% at November 30, 2015) $ 66,927 $ 35,664 9.10% Senior notes due September 15, 2017 263,932 262,570 7 1/4% Senior notes due June 15, 2018 299,647 299,431 4.75% Senior notes due May 15, 2019 397,364 396,309 8.00% Senior notes due March 15, 2020 344,811 343,327 7.00% Senior notes due December 15, 2021 445,911 445,079 7.50% Senior notes due September 15, 2022 346,774 346,204 7.625% Senior notes due May 15, 2023 247,404 247,000 1.375% Convertible senior notes due February 1, 2019 227,379 226,170 Total $ 2,640,149 $ 2,601,754 The senior note and convertible senior note balances in the table above reflect our adoption of ASU 2015-03, as described in Note 1 – Summary of Significant Accounting Policies. Debt issuance costs that were deducted from the carrying amounts of the applicable senior notes totaled $18.3 million at November 30, 2016 and $23.8 million at November 30, 2015. The carrying amounts of the senior notes listed above are also net of any unamortized discounts. Unsecured Revolving Credit Facility. We have a $275.0 million Credit Facility that will mature on 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. The Credit Facility also contains 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 Facility. 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, 2016 , we had no cash borrowings and $31.0 million of letters of credit outstanding under the Credit Facility. Therefore, as of November 30, 2016 , we had $244.0 million available for cash borrowings under the Credit Facility, with up to $106.5 million of that amount available for the issuance of additional letters of credit. LOC Facility. We maintain the LOC Facility with a financial institution to obtain letters of credit from time to time in the ordinary course of operating our business. We had no letters of credit outstanding under the LOC Facility at November 30, 2016 and $9.1 million outstanding at November 30, 2015. The LOC Facility requires us to deposit and maintain cash with the issuing financial institution as collateral for our letters of credit outstanding. Mortgages and Land Contracts Due to Land Sellers and Other Loans. As of November 30, 2016 , inventories having a carrying value of $181.8 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, 2016 and 2015 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, 2016 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) 9.6 % 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) 5.0 8.00% Senior notes 350,000 February 7, 2012 March 15, 2020 Yes (a) 8.5 7.00% Senior notes 450,000 October 29, 2013 December 15, 2021 Yes (b) 7.2 7.50% Senior notes 350,000 July 31, 2012 September 15, 2022 Yes (a) 7.7 7.625% Senior notes 250,000 February 17, 2015 May 15, 2023 Yes (b) 7.8 1.375% Convertible senior notes 230,000 January 29, 2013 February 1, 2019 Yes (c) 1.9 (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 land acquisition and land 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. We maintain 12,602,735 shares of our common stock to meet conversions if and when they occur. This represents 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. 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. 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, 2016, 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: 2017 — $331.9 million ; 2018 — $300.0 million ; 2019 — $630.0 million ; 2020 — $350.0 million ; 2021 — $0 ; and thereafter — $1.05 billion .

Fair Value Disclosures

Fair Value Disclosures	12 Months Ended
	Nov. 30, 2016
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): Fair Value Hierarchy For the Years Ended November 30, Description 2016 2015 Inventories (a) Level 2 $ 3,657 $ — Inventories (a) Level 3 37,329 11,988 (a) Amounts represent the aggregate fair value for real estate assets impacted by inventory impairment charges during the applicable 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 $89.1 million were written down to their fair value, less associated costs to sell (where applicable), of $39.5 million during the year ended November 30, 2016 , resulting in inventory impairment charges of $49.6 million . 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 . The fair values for inventories that were determined using Level 2 inputs were based on bona fide letters of intent from outside parties or executed sales contracts. 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, or, with respect to planned future land sales, were based on broker quotes. 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, 2016 2015 Fair Value Hierarchy Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Liabilities: Senior notes (a) Level 2 $ 2,345,843 $ 2,494,844 $ 2,339,920 $ 2,429,850 Convertible senior notes (a) Level 2 227,379 223,675 226,170 211,313 (a) The carrying values for the senior notes and convertible senior notes, as presented, include unamortized debt issuance costs. Debt issuance costs are not factored into the estimated fair values of these notes. 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, 2016
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 of certain conditions or defects, including claims where we could have liability under applicable state statutes or tort law for a defective condition in or damages to a home. Our warranty liability covers our costs of repairs associated with homeowner claims made under our limited warranty program. These claims for repairs of certain conditions or defects are generally made directly by a homeowner and involve their individual 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/or 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, 2016 2015 2014 Balance at beginning of year $ 49,085 $ 45,196 $ 48,704 Warranties issued 30,135 23,018 18,479 Payments (a) (23,190 ) (26,367 ) (39,458 ) Adjustments (b) 652 7,238 17,471 Balance at end of year $ 56,682 $ 49,085 $ 45,196 (a) Payments for 2016, 2015 and 2014 included $2.3 million , $8.4 million and $26.6 million , respectively, to repair homes affected by water intrusion-related issues in certain of our communities in central and southwest Florida. (b) Adjustments for 2016, 2015 and 2014 included the reclassification of certain estimated minimum probable recoveries to receivables in connection with the above-noted water intrusion-related issues. Adjustments in 2014 also included the reclassification of estimated minimum probable recoveries to establish a separate accrual for a water intrusion-related inquiry, as described below. The adjustments for each year had no impact on our consolidated statements of operations. There were no estimated minimum probable recoveries netted against our warranty liability at November 30, 2016. 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 which were 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. This inquiry was resolved through an agreement with the Florida Attorney General’s Office that was approved by a Florida circuit court and became effective in February 2016. The amount accrued as of November 30, 2015 was adequate based on the terms of the approved agreement. We paid a stipulated amount to the Florida Attorney General’s Office under the agreement in March 2016. 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 experience, 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 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 under a program where eligible independent subcontractors are enrolled as insureds on each community. 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 community as part of our overall general liability insurance and our self-insurance. We self-insure a portion of our overall risk through the use of a captive insurance subsidiary, which provides coverage for our exposure to certain construction defect, bodily injury and property damage claims and related litigation or regulatory actions, up to certain limits. Our self-insurance liability generally covers the costs of settlements and/or repairs, if any, as well as our costs to defend and resolve the following types of claims: • Construction defect : Construction defect claims, which represent the largest component of our self-insurance liability, typically originate through a legal or regulatory process rather than directly by a homeowner and involve the alleged occurrence of a condition affecting two or more homes within the same community, or they involve a common area or homeowners’ association property within a community. These claims typically involve higher costs to resolve than individual homeowner warranty claims, and the rate of claims is highly variable. • Bodily injury : Bodily injury claims typically involve individuals (other than our employees) who claim they were injured while on our property or as a result of our operations. • Property damage : Property damage claims generally involve claims by third parties for alleged damage to real or personal property as a result of our operations. Such claims may occasionally include those made against us by owners of property located near our communities. Our self-insurance liability at each reporting date represents the estimated costs of reported claims, claims incurred but not yet reported, and claim adjustment expenses. The amount of our self-insurance liability is based on an analysis performed by a third-party actuary that uses our historical claim and expense data, as well as industry data to estimate these overall costs. Key assumptions used in developing 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 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; 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, construction defect claims are 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 self-insurance liability based on the actuarial analysis relates to claims incurred but not yet reported. Therefore, 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. Our self-insurance liability is presented on a gross basis for all years without consideration of insurance recoveries and amounts we have paid on behalf of and expect to recover from other parties, if any. To facilitate this, as of November 30, 2016, we changed the presentation of estimated probable insurance and other recoveries to reflect such amounts as receivables in our consolidated balance sheets, with no impact on our consolidated statements of operations. Previously, these amounts were presented on a net basis within our self-insurance liability. The estimated probable insurance and other recoveries that were reclassified to receivables totaled $95.3 million at November 30, 2015 and $124.9 million at November 30, 2014. We also reported estimated probable insurance and other recoveries of $84.5 million as receivables at November 30, 2016. The estimated probable recoveries for all periods presented are principally based on actuarially determined amounts and depend on various factors, including, among other things, the above-described claim cost estimates, our insurance policy coverage limits for the applicable policy year(s), historical third-party recovery rates, insurance industry practices, the regulatory environment, and legal precedent, and are subject to a high degree of variability from year to year. Because of the inherent uncertainty and variability in these assumptions, our actual insurance recoveries could differ significantly from amounts currently estimated. The changes in our self-insurance liability were as follows (in thousands): Years Ended November 30, 2016 2015 2014 Balance at beginning of year $ 173,011 $ 205,228 $ 239,067 Self-insurance expense (a) 24,808 18,590 13,491 Payments (28,395 ) (21,201 ) (21,045 ) Reclassification of estimated probable recoveries (b) (10,840 ) (29,606 ) (26,285 ) Balance at end of year $ 158,584 $ 173,011 $ 205,228 (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) Amount for each period represents the year-over-year change in the estimated probable insurance and other recoveries that were reclassified to receivables to present our self-insurance liability on a gross basis. For most of our claims, there is no interaction between our warranty liability and self-insurance liability. Typically, if a matter is identified at its outset as either a warranty or self-insurance claim, it remains as such through its resolution. However, there can be instances of interaction between the liabilities, such as where individual homeowners in a community separately request warranty repairs to their homes to address a similar condition or issue and subsequently join together to initiate, or potentially initiate, a legal process with respect to that condition or issue and/or the repair work we have undertaken. In these instances, the claims and related repair work generally are initially covered by our warranty liability, and the costs associated with resolving the legal matter (including any additional repair work) are covered by our self-insurance liability. The payments we make in connection with claims and related repair work, whether covered within our warranty liability and/or our self-insurance liability, may be recovered from our insurers to the extent such payments exceed the self-insured retentions or deductibles under our general liability insurance policies. There generally is a timing difference between when we make payments for claims and related repair work and our recovery of costs from applicable insurance carriers due to the insurance carriers’ lengthy claim evaluation process. Also, in certain instances, in the course of resolving a claim, we pay amounts in advance of and/or on behalf of a subcontractor(s) or their insurer(s) and believe we will be reimbursed for such payments. Estimates of all such amounts, if any, are recorded as receivables in our consolidated balance sheets when any such recovery is considered probable. Such receivables associated with our warranty and self-insurance matters totaled $14.6 million at November 30, 2016 and $23.8 million at November 30, 2015. We believe the collection of these receivables is probable based on our history of collections for similar claims. 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, 2016 , we had $535.7 million of performance bonds and $31.0 million of letters of credit outstanding. At November 30, 2015 , we had $565.4 million of performance bonds and $33.4 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, 2016 , we had total cash deposits of $42.8 million to purchase land having an aggregate purchase price of $1.07 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, 2017 $ 7,660 2018 7,218 2019 6,653 2020 4,354 2021 2,592 Thereafter 7,644 Total minimum lease payments $ 36,121 Rental expense on our noncancelable operating leases was $7.5 million in 2016 , $8.5 million in 2015 and $7.7 million in 2014 .

Legal Matters

Legal Matters	12 Months Ended
	Nov. 30, 2016
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 district 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 district 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. The lender plaintiffs filed an appeal from the district court’s summary judgment decisions with the Nevada Supreme Court and that court heard oral argument on June 6, 2016. On September 22, 2016, the Nevada Supreme Court rejected the lender plaintiffs’ appeal and upheld the district court’s summary judgment decisions against the lender plaintiffs in favor of KB Nevada. The district court scheduled a new trial date of February 28, 2017 for all remaining claims. 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. 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. Under the terms of the tentative settlement, we agreed to pay $7.5 million to a settlement administrator for distribution to individual settling plaintiffs, subject to obtaining releases from, and a specified threshold of participation by, such individuals. On May 2, 2016, after further negotiations to resolve important details related to the claims submission process for individual settling plaintiffs, we reached final settlement terms with the plaintiff representatives. The final settlement terms did not change the settlement amount, which is intended to be inclusive of all payments to settling plaintiffs and all related fees and costs, or the required threshold participation level. On May 19, 2016, the Edwards court approved the final settlement terms with respect to the Edwards case and, with the Bejenaru court’s consent, preliminarily approved the final settlement terms with respect to the Bejenaru case. On September 15, 2016, the court approved the final settlement terms with respect to the Bejenaru case. In 2015, we established an accrual for these cases in the amount of $7.5 million , which we paid as of November 30, 2016. 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, and we have met with the RWQCB in an effort to resolve the matters alleged in the NOV. An administrative hearing before the RWQCB originally scheduled for August 10, 2016 has been continued and a new hearing date has not yet been set. 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, 2016, it was not reasonably possible that an additional material loss had been incurred in an amount in excess of the estimated amounts already recognized or disclosed 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, 2016
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 (“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 (“Distribution Date”), common stock certificates and/or book-entry shares 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. Each share of our common stock issued in the 2014 offering includes a preferred share purchase right associated with and subject to the terms of the 2009 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 Director Plan SARs under the terms of the plan. Concurrent with the amendment of the Director Plan, for the purpose of effecting any such settlements, our board of directors authorized the repurchase of not 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, which was amended in April 2016, 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, 2016, no Director Plan SARs had been settled. In addition, we had not repurchased any shares and no stock payment awards had been granted under the 2014 Plan, as amended, pursuant to the respective board of directors authorizations or otherwise. The above-described director elections made in 2014 changed only the method of settlement of the outstanding Director Plan SARs, 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 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 awards in future quarters. 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 a prior board-approved share repurchase program. The amount and timing of shares purchased under this 10,000,000 share repurchase program are 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 November 30, 2016, we had repurchased 8,373,000 shares of our common stock pursuant to this authorization, at a total cost of $85.9 million . All of these share repurchases were made in the 2016 first quarter. We did not repurchase any of our common stock under this program in 2015 or 2014. Our board of directors declared four quarterly cash dividends of $.0250 per share of common stock in 2016, 2015 and 2014. All dividends declared during 2016, 2015 and 2014 were also paid during those years. Treasury Stock. In addition to the shares purchased in 2016 pursuant to our share repurchase program, we acquired $2.5 million , $.6 million and $.5 million of our common stock in 2016, 2015 and 2014, respectively. All of the common stock acquired in 2015 and 2014 and a portion of the common stock acquired in 2016 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. 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 10,000,000 share repurchase program described above.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Nov. 30, 2016
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, 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 ) Other comprehensive income before reclassifications 468 Amounts reclassified from accumulated other comprehensive loss 1,635 Income tax expense related to items of other comprehensive income (841 ) Other comprehensive income, net of tax 1,262 Balance at November 30, 2016 $ (16,057 ) 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 2016 2015 2014 Postretirement benefit plan adjustments Amortization of net actuarial loss $ 79 $ 848 $ 357 Amortization of prior service cost 1,556 1,556 1,556 Total reclassifications (a) $ 1,635 $ 2,404 $ 1,913 (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 2017 are $.1 million and $1.6 million , respectively.

Employee Benefit and Stock Plan

Employee Benefit and Stock Plans	12 Months Ended
	Nov. 30, 2016
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 $5.3 million in 2016 , $4.6 million in 2015 and $3.8 million in 2014 . 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, 2016 , 2015 and 2014 , approximately 5% , 5% and 6% , respectively, of the 401(k) Plan’s net assets were invested in our common stock. Approval of Amended KB Home 2014 Plan. At our Annual Meeting of Stockholders held on April 7, 2016, our stockholders approved the Amended KB Home 2014 Equity Incentive Plan (“Amended 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 7,500,000 additional shares above the original 4,800,000 shares our stockholders approved under the plan (or an aggregate issuance of 12,300,000 shares), plus any shares that were available for grant as of April 7, 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. No new awards may be made under the 2010 Plan. Therefore, the Amended 2014 Plan is our only active equity compensation plan. Under the Amended 2014 Plan, grants of stock options and other similar awards reduce the Amended 2014 Plan’s share capacity on a 1 -for-1 basis, and grants of restricted stock and other similar “full value” awards reduce the Amended 2014 Plan’s share capacity on a 1.78 -for-1 basis. In addition, subject to the Amended 2014 Plan’s terms and conditions, a stock-based award may also be granted under the Amended 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 Amended 2014 Plan provides that stock options and SARs may be awarded for periods of up to 10 years . The Amended 2014 Plan also enables us to grant cash bonuses and other stock-based awards. As of November 30, 2016, 2015, and 2014, in addition to awards outstanding under the Amended 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 Amended 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 Amended 2014 Plan, but stock option awards granted under this plan had terms of up to 15 years 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, 2016 2015 2014 Stock options (a) $ 7,076 $ 7,576 $ 3,024 Restricted stock 2,630 2,499 1,750 PSUs 5,343 5,404 3,699 Director awards 1,801 1,664 (91 ) Total $ 16,850 $ 17,143 $ 8,382 (a) Compensation expense associated with stock options was 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, 2016 2015 2014 Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options outstanding at beginning of year 12,635,644 $ 19.39 11,735,042 $ 20.45 10,531,938 $ 21.11 Granted 1,012,686 16.21 1,262,000 14.92 1,273,647 14.62 Exercised (551,898 ) 13.95 (76,164 ) 9.69 (36,665 ) 7.92 Cancelled (364,887 ) 34.07 (285,234 ) 45.80 (33,878 ) 20.25 Options outstanding at end of year 12,731,545 $ 18.95 12,635,644 $ 19.39 11,735,042 $ 20.45 Options exercisable at end of year 10,506,810 $ 19.70 10,389,722 $ 20.35 10,103,739 $ 21.32 Options available for grant at end of year 7,034,523 1,554,195 3,514,077 The total intrinsic value of stock options exercised was $1.4 million for the year ended November 30, 2016 , $.4 million for the year ended November 30, 2015 and $.3 million for the year ended November 30, 2014 . The aggregate intrinsic value of stock options outstanding was $24.5 million , $16.4 million and $35.8 million at November 30, 2016 , 2015 and 2014 , respectively. The intrinsic value of stock options exercisable was $23.3 million at November 30, 2016 , $16.4 million at November 30, 2015 , and $31.7 million at November 30, 2014 . 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, 2016 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 4.3 2,771,667 $ 8.33 $11.07 to $14.95 2,595,011 14.60 8.1 1,370,933 14.41 $14.96 to $16.69 2,668,775 15.94 6.2 1,668,118 15.78 $16.70 to $28.10 2,609,550 23.24 1.2 2,609,550 23.24 $28.11 to $69.63 2,086,542 36.97 1.9 2,086,542 36.97 $ 6.32 to $69.63 12,731,545 $ 18.95 4.4 10,506,810 $ 19.70 3.5 The weighted average grant date fair value of stock options granted in 2016 , 2015 and 2014 was $5.82 , $5.49 and $5.07 , 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, 2016 2015 2014 Risk-free interest rate 1.3 % 1.4 % 1.6 % Expected volatility factor 41.3 % 43.6 % 41.0 % Expected dividend yield .6 % .7 % .7 % Expected term 5 years 5 years 5 years The risk-free interest rate assumption is determined based on observed interest rates appropriate for the stock options’ expected term. 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, 2016 , there was $4.4 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 $2.2 million in 2016 , $1.7 million in 2015 and $1.2 million in 2014 resulting from the cancellation of stock awards were reflected in paid-in capital. In both 2016 and 2015, the consolidated statement of cash flows reflected $.2 million of excess tax benefits associated with the exercise of stock options. In 2014 , 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 lapse in installments within, or in full at the end of, three years after their grant date if certain conditions are met. Restricted stock transactions are summarized as follows: Years Ended November 30, 2016 2015 2014 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 416,977 $ 15.88 355,294 $ 15.81 219,628 $ 16.23 Granted 453,703 15.73 285,006 15.19 219,835 15.34 Vested (252,854 ) 14.78 (204,663 ) 14.83 (73,908 ) 16.52 Cancelled (13,207 ) 15.12 (18,660 ) 15.45 (10,261 ) 18.55 Outstanding at end of year 604,619 $ 16.24 416,977 $ 15.88 355,294 $ 15.81 As of November 30, 2016 , we had $7.6 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 6, 2016, 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, 2016 and ending on November 30, 2019, 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 $16.21 . On October 8, 2015, we granted PSUs to certain employees with similar terms as the 2016 PSU grants, except that the applicable performance period commenced on December 1, 2015 and ends on November 30, 2018. 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 2016 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 . PSU transactions are summarized as follows: Years Ended November 30, 2016 2015 2014 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 820,209 $ 15.52 628,209 $ 15.70 385,049 $ 16.39 Granted 369,281 13.81 192,000 14.92 243,160 14.62 Vested (374,630 ) 10.21 — — — — Cancelled (5,000 ) 16.21 — — — — Outstanding at end of year 809,860 $ 17.19 820,209 $ 15.52 628,209 $ 15.70 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 shares of our common stock that were granted under the terms of PSUs that vested in 2016 included an aggregate of 147,581 additional shares above the target amount awarded to the eligible recipients based on our achieving certain levels of average return on equity performance and revenue growth performance relative to a peer group of high-production homebuilding companies from December 1, 2012 through November 30, 2015. The PSUs do not have 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 and extent of achievement with respect to the applicable performance measures. At November 30, 2016 , we had $11.3 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, 2016 , 2015 and 2014 , 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 deferred common stock awards to our non-employee directors pursuant to the terms of the Director Plan and elections made by each director. All of these awards were fully vested as of November 30, 2016. Director Plan SARs, which have not been granted since April 2014 as they ceased being a component of non-employee director compensation after that date, are stock settled, have terms of up to 15 years and may be exercised when a respective director leaves the board or earlier if applicable stock ownership requirements have been met. Deferred common stock awards will be paid out at the earlier of a change in control or the date a respective 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. At November 30, 2016, 2015 and 2014, our non-employee directors had, in aggregate, 452,983 of outstanding Director Plan SARs, and 485,632 , 419,962 and 358,404 , respectively, of outstanding deferred common stock awards. In addition, beginning in 2015, we have granted common stock on an unrestricted basis to our non-employee directors on the grant date pursuant to the Director Plan and elections made by each director. 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 does not impact 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 9,431,756 and 10,135,461 shares of common stock at November 30, 2016 and 2015 , 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, 2016
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 $44.4 million at November 30, 2016 and $45.5 million at November 30, 2015 . We recognized investment gains on the cash surrender value of the Retirement Plan life insurance contracts of $.4 million in 2016 and $1.8 million in 2014 , and an investment loss of $1.3 million in 2015 . In 2016 , 2015 , and 2014 , we paid $1.4 million , $1.4 million and $1.2 million , respectively, in benefits under the Retirement Plan to eligible former employees. The cash surrender value of the DBO Plan life insurance contracts was $17.0 million at November 30, 2016 and $16.8 million at November 30, 2015 . We recognized investment gains on the cash surrender value of the DBO Plan life insurance contracts of $.2 million in 2016 and $.7 million in 2014 , and an investment loss of $.3 million in 2015 . 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, 2016 2015 2014 Interest cost $ 2,285 $ 2,270 $ 2,456 Amortization of prior service cost 1,556 1,556 1,556 Service cost 1,045 1,142 1,184 Amortization of net actuarial loss 79 848 357 Total $ 4,965 $ 5,816 $ 5,553 The liabilities related to these plans were $62.2 million at November 30, 2016 and $60.8 million at November 30, 2015 , and are included in accrued expenses and other liabilities in the consolidated balance sheets. For each of the years ended November 30, 2016 and 2015 , the discount rate we used for the plans was 3.6% . Benefit payments under our Retirement Plan and DBO Plan are expected to be paid during each year ended November 30 as follows: 2017 — $1.8 million ; 2018 — $2.0 million ; 2019 — $2.5 million ; 2020 — $2.8 million ; 2021 — $3.5 million ; and for the five years ended November 30, 2026 — $19.7 million in the aggregate.

Supplemental Disclosure to Cons

Supplemental Disclosure to Consolidated Statements of Cash Flows	12 Months Ended
	Nov. 30, 2016
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, 2016 2015 2014 Summary of cash and cash equivalents at the end of the year: Homebuilding $ 592,086 $ 559,042 $ 356,366 Financial services 914 1,299 2,402 Total $ 593,000 $ 560,341 $ 358,768 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 1,134 $ 22,486 $ 13,037 Income taxes paid 3,307 3,612 1,619 Income taxes refunded 550 11 1,728 Supplemental disclosure of noncash activities: Reclassification of warranty recoveries to receivables $ 2,151 $ 7,238 $ 18,110 Increase (decrease) in consolidated inventories not owned (59,413 ) 106,807 (5,755 ) Increase in inventories due to distributions of land and land development from an unconsolidated joint venture 4,277 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 99,108 20,291 61,553 Conversion of liability awards to equity awards — — 6,455

Supplemental Guarantor Informat

Supplemental Guarantor Information	12 Months Ended
	Nov. 30, 2016
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, 2016 . Condensed Consolidating Statements of Operations (in thousands) Year Ended November 30, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenues $ — $ 3,169,545 $ 425,101 $ — $ 3,594,646 Homebuilding: Revenues $ — $ 3,169,545 $ 413,398 $ — $ 3,582,943 Construction and land costs — (2,661,888 ) (379,213 ) — (3,041,101 ) Selling, general and administrative expenses (91,859 ) (251,384 ) (46,198 ) — (389,441 ) Operating income (loss) (91,859 ) 256,273 (12,013 ) — 152,401 Interest income 470 55 4 — 529 Interest expense (177,329 ) (3,958 ) (3,946 ) 179,333 (5,900 ) Intercompany interest 301,432 (107,388 ) (14,711 ) (179,333 ) — Equity in loss of unconsolidated joint ventures — (2,179 ) (2 ) — (2,181 ) Homebuilding pretax income (loss) 32,714 142,803 (30,668 ) — 144,849 Financial services pretax income — — 4,466 — 4,466 Total pretax income (loss) 32,714 142,803 (26,202 ) — 149,315 Income tax benefit (expense) 17,200 (52,700 ) (8,200 ) — (43,700 ) Equity in net income of subsidiaries 55,701 — — (55,701 ) — Net income (loss) $ 105,615 $ 90,103 $ (34,402 ) $ (55,701 ) $ 105,615 Year Ended November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenues $ — $ 2,640,678 $ 391,352 $ — $ 3,032,030 Homebuilding: Revenues $ — $ 2,640,678 $ 380,309 $ — $ 3,020,987 Construction and land costs — (2,196,228 ) (343,140 ) — (2,539,368 ) Selling, general and administrative expenses (86,053 ) (213,292 ) (43,653 ) — (342,998 ) Operating income (loss) (86,053 ) 231,158 (6,484 ) — 138,621 Interest income 451 6 1 — 458 Interest expense (180,701 ) (6,184 ) — 165,029 (21,856 ) Intercompany interest 289,727 (101,540 ) (23,158 ) (165,029 ) — Equity in loss of unconsolidated joint ventures — (1,803 ) (1 ) — (1,804 ) Homebuilding pretax income (loss) 23,424 121,637 (29,642 ) — 115,419 Financial services pretax income — — 11,624 — 11,624 Total pretax income (loss) 23,424 121,637 (18,018 ) — 127,043 Income tax benefit (expense) 2,000 (46,700 ) 2,300 — (42,400 ) Equity in net income of subsidiaries 59,219 — — (59,219 ) — Net income (loss) $ 84,643 $ 74,937 $ (15,718 ) $ (59,219 ) $ 84,643 Year Ended November 30, 2014 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenues $ — $ 2,017,170 $ 383,779 $ — $ 2,400,949 Homebuilding: Revenues $ — $ 2,017,170 $ 372,473 $ — $ 2,389,643 Construction and land costs — (1,658,925 ) (326,726 ) — (1,985,651 ) Selling, general and administrative expenses (68,717 ) (176,795 ) (42,511 ) — (288,023 ) Operating income (loss) (68,717 ) 181,450 3,236 — 115,969 Interest income 432 9 2 — 443 Interest expense (165,485 ) (6,056 ) — 140,791 (30,750 ) Intercompany interest 287,017 (118,901 ) (27,325 ) (140,791 ) — Equity in income (loss) of unconsolidated joint ventures — (2,549 ) 3,290 — 741 Homebuilding pretax income (loss) 53,247 53,953 (20,797 ) — 86,403 Financial services pretax income — — 8,546 — 8,546 Total pretax income (loss) 53,247 53,953 (12,251 ) — 94,949 Income tax benefit 215,691 507,997 99,712 — 823,400 Equity in net income of subsidiaries 649,411 — — (649,411 ) — Net income $ 918,349 $ 561,950 $ 87,461 $ (649,411 ) $ 918,349 Condensed Consolidating Statements of Comprehensive Income (Loss) (in thousands) Year Ended November 30, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income (loss) $ 105,615 $ 90,103 $ (34,402 ) $ (55,701 ) $ 105,615 Other comprehensive income: Postretirement benefit plan adjustments 2,103 — — — 2,103 Other comprehensive income before tax 2,103 — — — 2,103 Income tax expense related to items of other comprehensive income (841 ) — — — (841 ) Other comprehensive income, net of tax 1,262 — — — 1,262 Comprehensive income (loss) $ 106,877 $ 90,103 $ (34,402 ) $ (55,701 ) $ 106,877 Year Ended November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income (loss) $ 84,643 $ 74,937 $ (15,718 ) $ (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 $ 74,937 $ (15,718 ) $ (59,219 ) $ 88,332 Year Ended November 30, 2014 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income $ 918,349 $ 561,950 $ 87,461 $ (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 $ 561,950 $ 87,461 $ (649,411 ) $ 914,857 Condensed Consolidating Balance Sheets (in thousands) November 30, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Homebuilding: Cash and cash equivalents $ 463,100 $ 100,439 $ 28,547 $ — $ 592,086 Restricted cash — — — — — Receivables 4,807 135,915 90,943 — 231,665 Inventories — 3,048,132 355,096 — 3,403,228 Investments in unconsolidated joint ventures — 61,517 2,499 — 64,016 Deferred tax assets, net 276,737 318,077 144,171 — 738,985 Other assets 79,526 9,177 2,442 — 91,145 824,170 3,673,257 623,698 — 5,121,125 Financial services — — 10,499 — 10,499 Intercompany receivables 3,559,012 — 97,062 (3,656,074 ) — Investments in subsidiaries 35,965 — — (35,965 ) — Total assets $ 4,419,147 $ 3,673,257 $ 731,259 $ (3,692,039 ) $ 5,131,624 Liabilities and stockholders’ equity Homebuilding: Accounts payable, accrued expenses and other liabilities $ 131,530 $ 397,605 $ 237,192 $ — $ 766,327 Notes payable 2,548,112 66,927 25,110 — 2,640,149 2,679,642 464,532 262,302 — 3,406,476 Financial services — — 2,003 — 2,003 Intercompany payables 16,360 3,208,725 430,989 (3,656,074 ) — Stockholders’ equity 1,723,145 — 35,965 (35,965 ) 1,723,145 Total liabilities and stockholders’ equity $ 4,419,147 $ 3,673,257 $ 731,259 $ (3,692,039 ) $ 5,131,624 November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Homebuilding: Cash and cash equivalents $ 444,850 $ 96,741 $ 17,451 $ — $ 559,042 Restricted cash 9,344 — — — 9,344 Receivables 39 145,022 102,937 — 247,998 Inventories — 2,900,202 413,545 — 3,313,747 Investments in unconsolidated joint ventures — 69,057 2,501 — 71,558 Deferred tax assets, net 190,770 465,105 126,321 — 782,196 Other assets 73,808 11,198 3,986 — 88,992 718,811 3,687,325 666,741 — 5,072,877 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 $ 4,385,344 $ 3,687,325 $ 782,872 $ (3,768,636 ) $ 5,086,905 Liabilities and stockholders’ equity Homebuilding: Accounts payable, accrued expenses and other liabilities $ 136,352 $ 417,315 $ 238,833 $ — $ 792,500 Notes payable 2,540,980 35,664 25,110 — 2,601,754 2,677,332 452,979 263,943 — 3,394,254 Financial services — — 1,817 — 1,817 Intercompany payables 17,178 3,234,346 477,729 (3,729,253 ) — Stockholders’ equity 1,690,834 — 39,383 (39,383 ) 1,690,834 Total liabilities and stockholders’ equity $ 4,385,344 $ 3,687,325 $ 782,872 $ (3,768,636 ) $ 5,086,905 Condensed Consolidating Statements of Cash Flows (in thousands) Year Ended November 30, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by (used in) operating activities $ (40,277 ) $ 188,372 $ 40,560 $ — $ 188,655 Cash flows from investing activities: Contributions to unconsolidated joint ventures — (4,852 ) (750 ) — (5,602 ) Return of investments in unconsolidated joint ventures — 4,307 — — 4,307 Purchases of property and equipment, net (4,052 ) (555 ) (177 ) — (4,784 ) Intercompany 144,651 — — (144,651 ) — Net cash provided by (used in) investing activities 140,599 (1,100 ) (927 ) (144,651 ) (6,079 ) Cash flows from financing activities: Change in restricted cash 9,344 — — — 9,344 Payments on mortgages and land contracts due to land sellers and other loans — (67,845 ) — — (67,845 ) Issuance of common stock under employee stock plans 5,343 — — — 5,343 Excess tax benefits from stock-based compensation 186 — — — 186 Payments of cash dividends (8,586 ) — — — (8,586 ) Stock repurchases (88,359 ) — — — (88,359 ) Intercompany — (115,729 ) (28,922 ) 144,651 — Net cash used in financing activities (82,072 ) (183,574 ) (28,922 ) 144,651 (149,917 ) Net increase in cash and cash equivalents 18,250 3,698 10,711 — 32,659 Cash and cash equivalents at beginning of year 444,850 96,741 18,750 — 560,341 Cash and cash equivalents at end of year $ 463,100 $ 100,439 $ 29,461 $ — $ 593,000 Year Ended November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by operating activities $ 44,422 $ 110,688 $ 26,075 $ — $ 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 ) (1,271 ) (516 ) — (4,677 ) Intercompany 45,470 — — (45,470 ) — Net cash provided by (used in) investing activities 42,580 (7,896 ) (517 ) (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 — (19,586 ) (25,884 ) 45,470 — Net cash provided by (used in) financing activities 54,568 (42,463 ) (25,884 ) 45,470 31,691 Net increase (decrease) in cash and cash equivalents 141,570 60,329 (326 ) — 201,573 Cash and cash equivalents at beginning of year 303,280 36,412 19,076 — 358,768 Cash and cash equivalents at end of year $ 444,850 $ 96,741 $ 18,750 $ — $ 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 $ (641,728 ) $ (71,592 ) $ — $ (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 ) (4,145 ) (1,442 ) — (5,795 ) Intercompany (794,624 ) — — 794,624 — Net cash provided by (used in) investing activities (794,832 ) (52,991 ) 8,417 794,624 (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 — 730,719 63,905 (794,624 ) — Net cash provided by financing activities 538,636 693,801 63,905 (794,624 ) 501,718 Net increase (decrease) in cash and cash equivalents (173,567 ) (918 ) 730 — (173,755 ) Cash and cash equivalents at beginning of year 476,847 37,330 18,346 — 532,523 Cash and cash equivalents at end of year $ 303,280 $ 36,412 $ 19,076 $ — $ 358,768

Quarterly Results (unaudited)

Quarterly Results (unaudited)	12 Months Ended
	Nov. 30, 2016
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, 2016 and 2015 (in thousands, except per share amounts): First Quarter Second Quarter Third Quarter Fourth Quarter 2016 Revenues $ 678,371 $ 811,050 $ 913,283 $ 1,191,942 Gross profits 108,694 121,465 151,902 167,667 Inventory impairment and land option contract abandonment charges 1,966 11,740 3,052 36,054 Pretax income 16,027 24,797 53,463 55,028 Net income 13,127 15,597 39,363 37,528 Earnings per share: Basic $ .15 $ .18 $ .46 $ .44 Diluted .14 .17 .42 .40 2015 Revenues $ 580,121 $ 622,969 $ 843,157 $ 985,783 Gross profits 86,739 97,631 133,099 171,482 Inventory impairment and land option contract abandonment charges 448 536 3,532 5,075 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 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, 2016
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On December 14, 2016, we elected to exercise our optional redemption rights under the terms of our 9.10% Senior Notes due 2017, which mature on September 15, 2017. On January 13, 2017, we redeemed $100.0 million in aggregate principal amount of the notes outstanding at the redemption price calculated in accordance with the “make-whole” provisions of the notes. We used internally generated cash to fund this redemption. Upon this redemption, $165.0 million in aggregate principal amount of the notes remained outstanding. In connection with this early extinguishment of debt, we will recognize a charge of approximately $5.4 million in the 2017 first quarter. Additional information about the redemption is set forth in our Current Report on Form 8-K dated December 15, 2016.

Summary of Significant Accoun32

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Nov. 30, 2016
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, 2016 , we conducted ongoing operations in Arizona, California, Colorado, Florida, Nevada, North Carolina and Texas. 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. Until October 2016, we provided 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 estimates and judgments that affect the amounts reported in the 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 costs of sales incentives in the form of free or discounted 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, are 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 associated 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 a real estate asset 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 associated 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 or land are being actively developed and until homes are completed or the land is available for immediate sale. 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 or sale, 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. For these real estate assets, fair value is determined based on the estimated future net cash flows discounted for inherent risk associated with each such asset, 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 liabilities based on the estimated costs required to cover reported claims, claims incurred but not yet reported, and claim adjustment expenses. These estimated costs are based on an actuarial analysis of our historical claims and expense data, as well as industry data.
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 to inventories in our consolidated balance sheets as incurred.
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, SARs and Director Plan 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 in our consolidated balance sheets 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, 2016 and 2015 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	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, 2016 , 2015 or 2014 .
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted. In May 2014, the Financial Accounting Standards Board (“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. 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. In 2016, the FASB issued accounting standards updates that amended several aspects of ASU 2014-09. ASU 2014-09, as amended, is effective for us beginning December 1, 2018 (with early adoption permitted beginning in our 2018 fiscal year) and allows for full retrospective or modified retrospective methods of adoption. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements, as well as the method we will use to adopt the new guidance, and have been involved in industry-specific discussions with the FASB on the treatment of certain items. We do not believe the adoption of ASU 2014-09 will have a material impact on the amount or timing of our homebuilding revenues. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). ASU 2016-02 will require lessees to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Under ASU 2016-02, a lessee will be required to recognize assets and liabilities for leases with terms of more than 12 months. Lessor accounting remains substantially similar to current GAAP. In addition, disclosures of leasing activities are to be expanded to include qualitative along with specific quantitative information. ASU 2016-02 will be effective for us beginning December 1, 2019 (with early adoption permitted). ASU 2016-02 mandates a modified retrospective transition method. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, “Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”). ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 will be effective for us beginning December 1, 2017 (with early adoption permitted). We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. In August 2016, the FASB issued Accounting Standards Update No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows. ASU 2016-15 will be effective for us beginning December 1, 2018 (with early adoption permitted). We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. In November 2016, the FASB issued Accounting Standards Update No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash” (“ASU 2016-18”). ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 will be effective for us beginning December 1, 2018 (with early adoption permitted) and will be applied using a retrospective transition method to each period presented. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. Adoption of New Accounting Pronouncement. 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. ASU 2015-03 is to be applied on a retrospective basis and represents a change in accounting principle. 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 elected to early adopt ASU 2015-03 effective November 30, 2016. The adoption of ASU 2015-03 resulted in the reclassification of unamortized debt issuance costs related to senior notes from other assets to notes payable in our consolidated balance sheets in the amount of $18.3 million at November 30, 2016 and $23.8 million at November 30, 2015. As permitted by ASU 2015-15, we elected not to reclassify unamortized debt issuance costs associated with our Credit Facility and continue to present such capitalized costs in other assets.
Adoption of New Accounting Pronouncement	Recent Accounting Pronouncements Not Yet Adopted. In May 2014, the Financial Accounting Standards Board (“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. 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. In 2016, the FASB issued accounting standards updates that amended several aspects of ASU 2014-09. ASU 2014-09, as amended, is effective for us beginning December 1, 2018 (with early adoption permitted beginning in our 2018 fiscal year) and allows for full retrospective or modified retrospective methods of adoption. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements, as well as the method we will use to adopt the new guidance, and have been involved in industry-specific discussions with the FASB on the treatment of certain items. We do not believe the adoption of ASU 2014-09 will have a material impact on the amount or timing of our homebuilding revenues. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). ASU 2016-02 will require lessees to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Under ASU 2016-02, a lessee will be required to recognize assets and liabilities for leases with terms of more than 12 months. Lessor accounting remains substantially similar to current GAAP. In addition, disclosures of leasing activities are to be expanded to include qualitative along with specific quantitative information. ASU 2016-02 will be effective for us beginning December 1, 2019 (with early adoption permitted). ASU 2016-02 mandates a modified retrospective transition method. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, “Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”). ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 will be effective for us beginning December 1, 2017 (with early adoption permitted). We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. In August 2016, the FASB issued Accounting Standards Update No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 provides guidance on how certain cash receipts and cash payments are to be presented and classified in the statement of cash flows. ASU 2016-15 will be effective for us beginning December 1, 2018 (with early adoption permitted). We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. In November 2016, the FASB issued Accounting Standards Update No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash” (“ASU 2016-18”). ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 will be effective for us beginning December 1, 2018 (with early adoption permitted) and will be applied using a retrospective transition method to each period presented. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. Adoption of New Accounting Pronouncement. 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. ASU 2015-03 is to be applied on a retrospective basis and represents a change in accounting principle. 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 elected to early adopt ASU 2015-03 effective November 30, 2016. The adoption of ASU 2015-03 resulted in the reclassification of unamortized debt issuance costs related to senior notes from other assets to notes payable in our consolidated balance sheets in the amount of $18.3 million at November 30, 2016 and $23.8 million at November 30, 2015. As permitted by ASU 2015-15, we elected not to reclassify unamortized debt issuance costs associated with our Credit Facility and continue to present such capitalized costs in other assets.
Reclassifications	Reclassifications. Certain amounts in our consolidated financial statements of prior years have been reclassified to conform to the current period presentation.
Segment Reporting	We have identified five operating reporting segments, comprised of four homebuilding reporting segments and one financial services reporting segment. As of November 30, 2016 , our homebuilding reporting segments conducted ongoing operations in the following states: West Coast: California Southwest: Arizona and Nevada Central: Colorado and Texas Southeast: Florida and North Carolina Our homebuilding reporting segments are engaged in the acquisition and development of land primarily for residential purposes and offer a wide variety of homes that are designed to appeal to first-time, 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. Management evaluates segment performance primarily based on segment pretax results. In the 2016 second quarter, we announced that we had begun a transition out of the Metro Washington, D.C. market that is expected to be completed in 2017. Our operations in the Metro Washington, D.C. market consisted of communities in Maryland and Virginia, which are included in our Southeast homebuilding reporting segment, and represented 2% of our consolidated homebuilding revenues for the year ended November 30, 2016. We are constructing and delivering homes in our remaining communities in this market. We also have other land interests in this market that we intend to build out or sell. As described in Note 7 – Inventory Impairments and Land Option Contract Abandonments, we recorded inventory impairment and land option contract abandonment charges related to this transition during the year ended November 30, 2016. 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 the provision of title services. Prior to July 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. From July 2014 until October 2016, we provided 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. In the 2016 fourth quarter, we and Nationstar began the process to wind down HCM and transfer HCM’s operations and certain assets to Stearns Lending. Our homebuyers may select any lender of their choice to obtain mortgage financing for the purchase of their home. In the 2016 fourth quarter, a subsidiary of ours and a subsidiary of Stearns Lending entered into an agreement to form a mortgage banking joint venture in which we each have a 50.0% ownership interest. The unconsolidated joint venture, which had no impact on our consolidated statement of operations for the year ended November 30, 2016, is expected to begin offering services, including mortgage loan originations, to our homebuyers in most of our served markets by the end of our 2017 second quarter, subject to obtaining all requisite regulatory approvals and clearances. Our financial services reporting segment is separately reported in our consolidated financial statements. 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 management is responsible for, among other things, evaluating and selecting the geographic markets in which we operate, consistent with our overall business strategy; allocating capital resources to markets for land acquisition and development activities; making major personnel decisions related to employee compensation and benefits; and monitoring the financial and operational performance of our divisions. 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 investment return 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 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, 2016
Segment Reporting [Abstract]
Financial information relating to company reporting segments	The following tables present financial information relating to our homebuilding reporting segments (in thousands): Years Ended November 30, 2016 2015 2014 Revenues: West Coast $ 1,638,078 $ 1,402,264 $ 1,089,857 Southwest 447,473 398,242 199,504 Central 1,018,535 809,738 698,429 Southeast 478,857 410,743 401,853 Total $ 3,582,943 $ 3,020,987 $ 2,389,643 Pretax income (loss): West Coast $ 148,014 $ 127,946 $ 116,325 Southwest 38,807 31,718 6,015 Central 85,924 70,959 47,214 Southeast (29,385 ) (22,758 ) (11,158 ) Corporate and other (98,511 ) (92,446 ) (71,993 ) Total $ 144,849 $ 115,419 $ 86,403 Equity in income (loss) of unconsolidated joint ventures: West Coast $ (1,561 ) $ (1,106 ) $ (374 ) Southwest (618 ) (696 ) (2,176 ) Central — — — Southeast (2 ) (2 ) 3,291 Total $ (2,181 ) $ (1,804 ) $ 741 Inventory impairment charges: West Coast $ 8,209 $ 645 $ 27,285 Southwest 3,191 3,253 6,392 Central 10,633 — — Southeast 27,547 4,132 3,951 Total $ 49,580 $ 8,030 $ 37,628 Years Ended November 30, 2016 2015 2014 Land option contract abandonments: West Coast $ 769 $ 352 $ 554 Southwest 253 — — Central 460 225 995 Southeast 1,750 984 254 Total $ 3,232 $ 1,561 $ 1,803 November 30, 2016 2015 Inventories: Homes under construction West Coast $ 695,742 $ 535,795 Southwest 130,886 112,032 Central 297,290 263,345 Southeast 122,020 120,184 Subtotal 1,245,938 1,031,356 Land under development West Coast 820,088 788,607 Southwest 268,507 317,331 Central 456,508 421,783 Southeast 182,554 238,324 Subtotal 1,727,657 1,766,045 Land held for future development or sale West Coast 210,910 277,954 Southwest 122,927 104,677 Central 15,439 22,082 Southeast 80,357 111,633 Subtotal 429,633 516,346 Total $ 3,403,228 $ 3,313,747 Investments in unconsolidated joint ventures: West Coast $ 51,612 $ 54,360 Southwest 9,905 14,697 Central — — Southeast 2,499 2,501 Total $ 64,016 $ 71,558 Assets: West Coast $ 1,847,279 $ 1,740,299 Southwest 564,636 582,030 Central 909,497 829,811 Southeast 414,730 507,844 Corporate and other 1,384,983 1,412,893 Total $ 5,121,125 $ 5,072,877

Financial Services (Tables)

Financial Services (Tables)	12 Months Ended
	Nov. 30, 2016
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, 2016 2015 2014 Revenues Insurance commissions $ 6,728 $ 7,137 $ 6,566 Title services 4,975 3,905 3,593 Marketing services fees — — 1,147 Interest income — 1 — Total 11,703 11,043 11,306 Expenses General and administrative (3,817 ) (3,711 ) (3,446 ) Operating income 7,886 7,332 7,860 Equity in income (loss) of unconsolidated joint ventures (3,420 ) 4,292 686 Pretax income $ 4,466 $ 11,624 $ 8,546
Financial services [Member]
Segment Reporting Information [Line Items]
Financial services assets liabilities	November 30, 2016 2015 Assets Cash and cash equivalents $ 914 $ 1,299 Receivables 1,764 2,245 Investments in unconsolidated joint ventures 7,771 10,440 Other assets 50 44 Total assets $ 10,499 $ 14,028 Liabilities Accounts payable and accrued expenses $ 2,003 $ 1,817 Total liabilities $ 2,003 $ 1,817

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Nov. 30, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Basic and diluted earnings per share were calculated as follows (in thousands, except per share amounts): Years Ended November 30, 2016 2015 2014 Numerator: Net income $ 105,615 $ 84,643 $ 918,349 Less: Distributed earnings allocated to nonvested restricted stock (45 ) (33 ) (26 ) Less: Undistributed earnings allocated to nonvested restricted stock (508 ) (273 ) (2,667 ) Numerator for basic earnings per share 105,062 84,337 915,656 Effect of dilutive securities: Interest expense and amortization of debt issuance costs associated with convertible senior notes, net of taxes 2,667 2,667 2,667 Add: Undistributed earnings allocated to nonvested restricted stock 508 273 2,667 Less: Undistributed earnings reallocated to nonvested restricted stock (453 ) (244 ) (2,398 ) Numerator for diluted earnings per share $ 107,784 $ 87,033 $ 918,592 Denominator: Weighted average shares outstanding — basic 85,706 92,054 89,265 Effect of dilutive securities: Share-based payments 2,170 2,401 1,647 Convertible senior notes 8,402 8,402 8,402 Weighted average shares outstanding — diluted 96,278 102,857 99,314 Basic earnings per share $ 1.23 $ .92 $ 10.26 Diluted earnings per share $ 1.12 $ .85 $ 9.25

Receivables (Tables)

Receivables (Tables)	12 Months Ended
	Nov. 30, 2016
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	Receivables consisted of the following (in thousands): November 30, 2016 2015 Due from utility companies, improvement districts and municipalities (a) $ 102,780 $ 92,082 Recoveries related to self-insurance claims (b) 84,476 95,316 Recoveries related to warranty and other claims (b) 14,609 23,836 Refundable deposits and bonds 13,665 12,355 Other 28,745 36,626 Subtotal 244,275 260,215 Allowance for doubtful accounts (12,610 ) (12,217 ) Total $ 231,665 $ 247,998 (a) These receivables 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, improvement district 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 improvement districts or municipalities. (b) As described in Note 15 – Commitments and Contingencies, in 2016, we reclassified estimated probable insurance and other recoveries from our self-insurance liability to receivables for all years presented.

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Nov. 30, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following (in thousands): November 30, 2016 2015 Homes under construction $ 1,245,938 $ 1,031,356 Land under development 1,727,657 1,766,045 Land held for future development or sale (a) 429,633 516,346 Total $ 3,403,228 $ 3,313,747
Interest costs	tion and land costs for the years ended November 30, 2016 and 2015 included $.7 million and $16.4 million , respectively, related to land sales during the periods. (b) 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 Lan38

Inventory Impairments and Land Option Contract Abandonments (Tables)	12 Months Ended
	Nov. 30, 2016
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) 2016 2015 2014 Average selling price $216,200 - $977,400 $178,100 - $509,400 $216,100 - $316,800 Deliveries per month 1 - 4 2 - 4 1 - 4 Discount rate 17% - 20% 17% - 20% 17% - 19% (a) The ranges of inputs used in each period primarily reflect differences between the housing markets where each of the impacted communities are located, rather than fluctuations in prevailing market conditions.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	12 Months Ended
	Nov. 30, 2016
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, 2016 November 30, 2015 Cash Deposits Aggregate Purchase Price Cash Deposits Aggregate Purchase Price Unconsolidated VIEs $ 24,910 $ 641,642 $ 32,436 $ 611,567 Other land option contracts and other similar contracts 17,919 431,954 22,101 576,140 Total $ 42,829 $ 1,073,596 $ 54,537 $ 1,187,707

Investments in Unconsolidated40

Investments in Unconsolidated Joint Ventures (Tables)	12 Months Ended
	Nov. 30, 2016
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, 2016 2015 2014 Revenues $ 46,389 $ 15,322 $ 12,538 Construction and land costs (50,566 ) (23,123 ) (10,790 ) Other expenses, net (4,465 ) (3,360 ) (1,476 ) Income (loss) $ (8,642 ) $ (11,161 ) $ 272
Balance sheets of unconsolidated joint ventures	The following table presents combined condensed balance sheet information for our unconsolidated joint ventures (in thousands): November 30, 2016 2015 Assets Cash $ 31,928 $ 23,309 Receivables 882 7,546 Inventories 165,385 175,196 Other assets 629 910 Total assets $ 198,824 $ 206,961 Liabilities and equity Accounts payable and other liabilities $ 19,880 $ 17,108 Notes payable (a) 44,381 39,064 Equity 134,563 150,789 Total liabilities and equity $ 198,824 $ 206,961 (a) One of our unconsolidated joint ventures has 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. Outstanding debt under the agreement 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, 2016 or 2015.
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, 2016 2015 Number of investments in unconsolidated joint ventures 7 7 Investments in unconsolidated joint ventures $ 64,016 $ 71,558 Number of unconsolidated joint venture lots controlled under land option contracts and other similar contracts 471 677

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Nov. 30, 2016
Other Assets [Abstract]
Other Assets	Other assets consisted of the following (in thousands): November 30, 2016 2015 Cash surrender value of insurance contracts $ 70,829 $ 67,786 Property and equipment, net 14,240 13,100 Prepaid expenses 4,894 6,480 Debt issuance costs (a) 1,182 1,626 Total $ 91,145 $ 88,992

Accrued Expenses and Other Li42

Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Nov. 30, 2016
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consisted of the following (in thousands): November 30, 2016 2015 Self-insurance and other litigation liabilities (a) $ 170,988 $ 191,812 Employee compensation and related benefits 130,352 114,456 Inventory-related obligations (b) 82,682 148,887 Accrued interest payable 67,411 62,645 Warranty liability 56,682 49,085 Customer deposits 18,175 14,563 Real estate and business taxes 14,370 14,255 Other 10,336 13,027 Total $ 550,996 $ 608,730 (a) As described in Note 15 – Commitments and Contingencies, in 2016, we reclassified estimated probable insurance and other recoveries from our self-insurance liability to receivables for all years presented. (b) 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, 2016
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 2016 Current $ (1,900 ) $ (1,000 ) $ (2,900 ) Deferred (28,700 ) (12,100 ) (40,800 ) Income tax expense $ (30,600 ) $ (13,100 ) $ (43,700 ) 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
Components of deferred tax liabilities and assets	Significant components of our deferred tax liabilities and assets are as follows (in thousands): November 30, 2016 2015 Deferred tax liabilities: Capitalized expenses $ 116,551 $ 110,408 State taxes 65,766 68,866 Other 286 196 Total $ 182,603 $ 179,470 November 30, 2016 2015 Deferred tax assets: NOLs from 2006 through 2016 $ 350,329 $ 423,274 Tax credits 197,766 186,169 Inventory impairment and land option contract abandonment charges 176,555 179,828 Employee benefits 102,321 93,395 Warranty, legal and other accruals 51,448 49,655 Capitalized expenses 36,950 34,887 Partnerships and joint ventures 16,293 18,557 Depreciation and amortization 8,530 9,146 Other 6,196 4,537 Total 946,388 999,448 Valuation allowance (24,800 ) (37,782 ) Total 921,588 961,666 Deferred tax assets, net $ 738,985 $ 782,196
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, 2016 2015 2014 $ % $ % $ % Income tax expense computed at statutory rate $ (52,260 ) (35.0 )% $ (44,462 ) (35.0 )% $ (33,232 ) (35.0 )% Valuation allowance for deferred tax assets 12,982 8.7 3,356 2.6 825,232 869.1 Tax credits 4,447 3.0 6,926 5.5 1,875 2.0 Depreciation and amortization 1,842 1.2 3,183 2.5 15,765 16.6 Basis in unconsolidated joint ventures (86 ) (0.1 ) 1,617 1.3 10,441 11.0 NOL reconciliation (3,691 ) (2.5 ) (3,379 ) (2.7 ) 12,973 13.7 State taxes, net of federal income tax benefit (7,511 ) (5.0 ) (5,155 ) (4.1 ) (13,907 ) (14.7 ) Other, net 577 .4 (4,486 ) (3.5 ) 4,253 4.5 Income tax benefit (expense) $ (43,700 ) (29.3 )% $ (42,400 ) (33.4 )% $ 823,400 867.2 %
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, 2016 2015 2014 Balance at beginning of year $ 56 $ 206 $ 206 Reductions due to lapse of statute of limitations — (150 ) — Balance at end of year $ 56 $ 56 $ 206

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Nov. 30, 2016
Debt Instrument [Line Items]
Mortgages and Notes Payable	The key terms of each of our senior notes outstanding as of November 30, 2016 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) 9.6 % 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) 5.0 8.00% Senior notes 350,000 February 7, 2012 March 15, 2020 Yes (a) 8.5 7.00% Senior notes 450,000 October 29, 2013 December 15, 2021 Yes (b) 7.2 7.50% Senior notes 350,000 July 31, 2012 September 15, 2022 Yes (a) 7.7 7.625% Senior notes 250,000 February 17, 2015 May 15, 2023 Yes (b) 7.8 1.375% Convertible senior notes 230,000 January 29, 2013 February 1, 2019 Yes (c) 1.9 (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, 2016 2015 Mortgages and land contracts due to land sellers and other loans (at interest rates of 1% to 7% at November 30, 2016 and 4% to 7% at November 30, 2015) $ 66,927 $ 35,664 9.10% Senior notes due September 15, 2017 263,932 262,570 7 1/4% Senior notes due June 15, 2018 299,647 299,431 4.75% Senior notes due May 15, 2019 397,364 396,309 8.00% Senior notes due March 15, 2020 344,811 343,327 7.00% Senior notes due December 15, 2021 445,911 445,079 7.50% Senior notes due September 15, 2022 346,774 346,204 7.625% Senior notes due May 15, 2023 247,404 247,000 1.375% Convertible senior notes due February 1, 2019 227,379 226,170 Total $ 2,640,149 $ 2,601,754

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	12 Months Ended
	Nov. 30, 2016
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): Fair Value Hierarchy For the Years Ended November 30, Description 2016 2015 Inventories (a) Level 2 $ 3,657 $ — Inventories (a) Level 3 37,329 11,988 (a) Amounts represent the aggregate fair value for real estate assets impacted by inventory impairment charges during the applicable 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, 2016 2015 Fair Value Hierarchy Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value Financial Liabilities: Senior notes (a) Level 2 $ 2,345,843 $ 2,494,844 $ 2,339,920 $ 2,429,850 Convertible senior notes (a) Level 2 227,379 223,675 226,170 211,313

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Nov. 30, 2016
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, 2016 2015 2014 Balance at beginning of year $ 49,085 $ 45,196 $ 48,704 Warranties issued 30,135 23,018 18,479 Payments (a) (23,190 ) (26,367 ) (39,458 ) Adjustments (b) 652 7,238 17,471 Balance at end of year $ 56,682 $ 49,085 $ 45,196 (a) Payments for 2016, 2015 and 2014 included $2.3 million , $8.4 million and $26.6 million , respectively, to repair homes affected by water intrusion-related issues in certain of our communities in central and southwest Florida. (b) Adjustments for 2016, 2015 and 2014 included the reclassification of certain estimated minimum probable recoveries to receivables in connection with the above-noted water intrusion-related issues. Adjustments in 2014 also included the reclassification of estimated minimum probable recoveries to establish a separate accrual for a water intrusion-related inquiry, as described below. The adjustments for each year had no impact on our consolidated statements of operations. There were no estimated minimum probable recoveries netted against our warranty liability at November 30, 2016.
Schedule of Self-Insurance Liability	Our self-insurance liability is presented on a gross basis for all years without consideration of insurance recoveries and amounts we have paid on behalf of and expect to recover from other parties, if any. To facilitate this, as of November 30, 2016, we changed the presentation of estimated probable insurance and other recoveries to reflect such amounts as receivables in our consolidated balance sheets, with no impact on our consolidated statements of operations. Previously, these amounts were presented on a net basis within our self-insurance liability. The estimated probable insurance and other recoveries that were reclassified to receivables totaled $95.3 million at November 30, 2015 and $124.9 million at November 30, 2014. We also reported estimated probable insurance and other recoveries of $84.5 million as receivables at November 30, 2016. The estimated probable recoveries for all periods presented are principally based on actuarially determined amounts and depend on various factors, including, among other things, the above-described claim cost estimates, our insurance policy coverage limits for the applicable policy year(s), historical third-party recovery rates, insurance industry practices, the regulatory environment, and legal precedent, and are subject to a high degree of variability from year to year. Because of the inherent uncertainty and variability in these assumptions, our actual insurance recoveries could differ significantly from amounts currently estimated. The changes in our self-insurance liability were as follows (in thousands): Years Ended November 30, 2016 2015 2014 Balance at beginning of year $ 173,011 $ 205,228 $ 239,067 Self-insurance expense (a) 24,808 18,590 13,491 Payments (28,395 ) (21,201 ) (21,045 ) Reclassification of estimated probable recoveries (b) (10,840 ) (29,606 ) (26,285 ) Balance at end of year $ 158,584 $ 173,011 $ 205,228 (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.
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, 2017 $ 7,660 2018 7,218 2019 6,653 2020 4,354 2021 2,592 Thereafter 7,644 Total minimum lease payments $ 36,121 Re

Accumulated Other Comprehensi47

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Nov. 30, 2016
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, 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 ) Other comprehensive income before reclassifications 468 Amounts reclassified from accumulated other comprehensive loss 1,635 Income tax expense related to items of other comprehensive income (841 ) Other comprehensive income, net of tax 1,262 Balance at November 30, 2016 $ (16,057 )
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 2016 2015 2014 Postretirement benefit plan adjustments Amortization of net actuarial loss $ 79 $ 848 $ 357 Amortization of prior service cost 1,556 1,556 1,556 Total reclassifications (a) $ 1,635 $ 2,404 $ 1,913 (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 Pl48

Employee Benefit and Stock Plans (Tables)	12 Months Ended
	Nov. 30, 2016
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, 2016 2015 2014 Stock options (a) $ 7,076 $ 7,576 $ 3,024 Restricted stock 2,630 2,499 1,750 PSUs 5,343 5,404 3,699 Director awards 1,801 1,664 (91 ) Total $ 16,850 $ 17,143 $ 8,382 (a) Compensation expense associated with stock options was 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, 2016 2015 2014 Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options outstanding at beginning of year 12,635,644 $ 19.39 11,735,042 $ 20.45 10,531,938 $ 21.11 Granted 1,012,686 16.21 1,262,000 14.92 1,273,647 14.62 Exercised (551,898 ) 13.95 (76,164 ) 9.69 (36,665 ) 7.92 Cancelled (364,887 ) 34.07 (285,234 ) 45.80 (33,878 ) 20.25 Options outstanding at end of year 12,731,545 $ 18.95 12,635,644 $ 19.39 11,735,042 $ 20.45 Options exercisable at end of year 10,506,810 $ 19.70 10,389,722 $ 20.35 10,103,739 $ 21.32 Options available for grant at end of year 7,034,523 1,554,195 3,514,077
Stock options outstanding and stock options exercisable	Stock options outstanding and stock options exercisable at November 30, 2016 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 4.3 2,771,667 $ 8.33 $11.07 to $14.95 2,595,011 14.60 8.1 1,370,933 14.41 $14.96 to $16.69 2,668,775 15.94 6.2 1,668,118 15.78 $16.70 to $28.10 2,609,550 23.24 1.2 2,609,550 23.24 $28.11 to $69.63 2,086,542 36.97 1.9 2,086,542 36.97 $ 6.32 to $69.63 12,731,545 $ 18.95 4.4 10,506,810 $ 19.70 3.5
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, 2016 2015 2014 Risk-free interest rate 1.3 % 1.4 % 1.6 % Expected volatility factor 41.3 % 43.6 % 41.0 % Expected dividend yield .6 % .7 % .7 % Expected term 5 years 5 years 5 years
Restricted stock transactions	Restricted stock transactions are summarized as follows: Years Ended November 30, 2016 2015 2014 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 416,977 $ 15.88 355,294 $ 15.81 219,628 $ 16.23 Granted 453,703 15.73 285,006 15.19 219,835 15.34 Vested (252,854 ) 14.78 (204,663 ) 14.83 (73,908 ) 16.52 Cancelled (13,207 ) 15.12 (18,660 ) 15.45 (10,261 ) 18.55 Outstanding at end of year 604,619 $ 16.24 416,977 $ 15.88 355,294 $ 15.81
Schedule of Share Based Payments Performance Shares Activity	PSU transactions are summarized as follows: Years Ended November 30, 2016 2015 2014 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 820,209 $ 15.52 628,209 $ 15.70 385,049 $ 16.39 Granted 369,281 13.81 192,000 14.92 243,160 14.62 Vested (374,630 ) 10.21 — — — — Cancelled (5,000 ) 16.21 — — — — Outstanding at end of year 809,860 $ 17.19 820,209 $ 15.52 628,209 $ 15.70

Postretirement Benefits (Tables

Postretirement Benefits (Tables)	12 Months Ended
	Nov. 30, 2016
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, 2016 2015 2014 Interest cost $ 2,285 $ 2,270 $ 2,456 Amortization of prior service cost 1,556 1,556 1,556 Service cost 1,045 1,142 1,184 Amortization of net actuarial loss 79 848 357 Total $ 4,965 $ 5,816 $ 5,553

Supplemental Disclosure to Co50

Supplemental Disclosure to Consolidated Statements of Cash Flows (Tables)	12 Months Ended
	Nov. 30, 2016
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, 2016 2015 2014 Summary of cash and cash equivalents at the end of the year: Homebuilding $ 592,086 $ 559,042 $ 356,366 Financial services 914 1,299 2,402 Total $ 593,000 $ 560,341 $ 358,768 Supplemental disclosure of cash flow information: Interest paid, net of amounts capitalized $ 1,134 $ 22,486 $ 13,037 Income taxes paid 3,307 3,612 1,619 Income taxes refunded 550 11 1,728 Supplemental disclosure of noncash activities: Reclassification of warranty recoveries to receivables $ 2,151 $ 7,238 $ 18,110 Increase (decrease) in consolidated inventories not owned (59,413 ) 106,807 (5,755 ) Increase in inventories due to distributions of land and land development from an unconsolidated joint venture 4,277 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 99,108 20,291 61,553 Conversion of liability awards to equity awards — — 6,455

Supplemental Guarantor Inform51

Supplemental Guarantor Information (Tables)	12 Months Ended
	Nov. 30, 2016
Guarantees [Abstract]
Condensed Consolidating Statements of Operations	Condensed Consolidating Statements of Operations (in thousands) Year Ended November 30, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenues $ — $ 3,169,545 $ 425,101 $ — $ 3,594,646 Homebuilding: Revenues $ — $ 3,169,545 $ 413,398 $ — $ 3,582,943 Construction and land costs — (2,661,888 ) (379,213 ) — (3,041,101 ) Selling, general and administrative expenses (91,859 ) (251,384 ) (46,198 ) — (389,441 ) Operating income (loss) (91,859 ) 256,273 (12,013 ) — 152,401 Interest income 470 55 4 — 529 Interest expense (177,329 ) (3,958 ) (3,946 ) 179,333 (5,900 ) Intercompany interest 301,432 (107,388 ) (14,711 ) (179,333 ) — Equity in loss of unconsolidated joint ventures — (2,179 ) (2 ) — (2,181 ) Homebuilding pretax income (loss) 32,714 142,803 (30,668 ) — 144,849 Financial services pretax income — — 4,466 — 4,466 Total pretax income (loss) 32,714 142,803 (26,202 ) — 149,315 Income tax benefit (expense) 17,200 (52,700 ) (8,200 ) — (43,700 ) Equity in net income of subsidiaries 55,701 — — (55,701 ) — Net income (loss) $ 105,615 $ 90,103 $ (34,402 ) $ (55,701 ) $ 105,615 Year Ended November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenues $ — $ 2,640,678 $ 391,352 $ — $ 3,032,030 Homebuilding: Revenues $ — $ 2,640,678 $ 380,309 $ — $ 3,020,987 Construction and land costs — (2,196,228 ) (343,140 ) — (2,539,368 ) Selling, general and administrative expenses (86,053 ) (213,292 ) (43,653 ) — (342,998 ) Operating income (loss) (86,053 ) 231,158 (6,484 ) — 138,621 Interest income 451 6 1 — 458 Interest expense (180,701 ) (6,184 ) — 165,029 (21,856 ) Intercompany interest 289,727 (101,540 ) (23,158 ) (165,029 ) — Equity in loss of unconsolidated joint ventures — (1,803 ) (1 ) — (1,804 ) Homebuilding pretax income (loss) 23,424 121,637 (29,642 ) — 115,419 Financial services pretax income — — 11,624 — 11,624 Total pretax income (loss) 23,424 121,637 (18,018 ) — 127,043 Income tax benefit (expense) 2,000 (46,700 ) 2,300 — (42,400 ) Equity in net income of subsidiaries 59,219 — — (59,219 ) — Net income (loss) $ 84,643 $ 74,937 $ (15,718 ) $ (59,219 ) $ 84,643 Year Ended November 30, 2014 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Revenues $ — $ 2,017,170 $ 383,779 $ — $ 2,400,949 Homebuilding: Revenues $ — $ 2,017,170 $ 372,473 $ — $ 2,389,643 Construction and land costs — (1,658,925 ) (326,726 ) — (1,985,651 ) Selling, general and administrative expenses (68,717 ) (176,795 ) (42,511 ) — (288,023 ) Operating income (loss) (68,717 ) 181,450 3,236 — 115,969 Interest income 432 9 2 — 443 Interest expense (165,485 ) (6,056 ) — 140,791 (30,750 ) Intercompany interest 287,017 (118,901 ) (27,325 ) (140,791 ) — Equity in income (loss) of unconsolidated joint ventures — (2,549 ) 3,290 — 741 Homebuilding pretax income (loss) 53,247 53,953 (20,797 ) — 86,403 Financial services pretax income — — 8,546 — 8,546 Total pretax income (loss) 53,247 53,953 (12,251 ) — 94,949 Income tax benefit 215,691 507,997 99,712 — 823,400 Equity in net income of subsidiaries 649,411 — — (649,411 ) — Net income $ 918,349 $ 561,950 $ 87,461 $ (649,411 ) $ 918,349
Condensed Consolidating Statements of Comprehensive Income (Loss)	Condensed Consolidating Statements of Comprehensive Income (Loss) (in thousands) Year Ended November 30, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income (loss) $ 105,615 $ 90,103 $ (34,402 ) $ (55,701 ) $ 105,615 Other comprehensive income: Postretirement benefit plan adjustments 2,103 — — — 2,103 Other comprehensive income before tax 2,103 — — — 2,103 Income tax expense related to items of other comprehensive income (841 ) — — — (841 ) Other comprehensive income, net of tax 1,262 — — — 1,262 Comprehensive income (loss) $ 106,877 $ 90,103 $ (34,402 ) $ (55,701 ) $ 106,877 Year Ended November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income (loss) $ 84,643 $ 74,937 $ (15,718 ) $ (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 $ 74,937 $ (15,718 ) $ (59,219 ) $ 88,332 Year Ended November 30, 2014 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net income $ 918,349 $ 561,950 $ 87,461 $ (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 $ 561,950 $ 87,461 $ (649,411 ) $ 914,857
Condensed Consolidating Balance Sheets	Condensed Consolidating Balance Sheets (in thousands) November 30, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Homebuilding: Cash and cash equivalents $ 463,100 $ 100,439 $ 28,547 $ — $ 592,086 Restricted cash — — — — — Receivables 4,807 135,915 90,943 — 231,665 Inventories — 3,048,132 355,096 — 3,403,228 Investments in unconsolidated joint ventures — 61,517 2,499 — 64,016 Deferred tax assets, net 276,737 318,077 144,171 — 738,985 Other assets 79,526 9,177 2,442 — 91,145 824,170 3,673,257 623,698 — 5,121,125 Financial services — — 10,499 — 10,499 Intercompany receivables 3,559,012 — 97,062 (3,656,074 ) — Investments in subsidiaries 35,965 — — (35,965 ) — Total assets $ 4,419,147 $ 3,673,257 $ 731,259 $ (3,692,039 ) $ 5,131,624 Liabilities and stockholders’ equity Homebuilding: Accounts payable, accrued expenses and other liabilities $ 131,530 $ 397,605 $ 237,192 $ — $ 766,327 Notes payable 2,548,112 66,927 25,110 — 2,640,149 2,679,642 464,532 262,302 — 3,406,476 Financial services — — 2,003 — 2,003 Intercompany payables 16,360 3,208,725 430,989 (3,656,074 ) — Stockholders’ equity 1,723,145 — 35,965 (35,965 ) 1,723,145 Total liabilities and stockholders’ equity $ 4,419,147 $ 3,673,257 $ 731,259 $ (3,692,039 ) $ 5,131,624 November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Homebuilding: Cash and cash equivalents $ 444,850 $ 96,741 $ 17,451 $ — $ 559,042 Restricted cash 9,344 — — — 9,344 Receivables 39 145,022 102,937 — 247,998 Inventories — 2,900,202 413,545 — 3,313,747 Investments in unconsolidated joint ventures — 69,057 2,501 — 71,558 Deferred tax assets, net 190,770 465,105 126,321 — 782,196 Other assets 73,808 11,198 3,986 — 88,992 718,811 3,687,325 666,741 — 5,072,877 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 $ 4,385,344 $ 3,687,325 $ 782,872 $ (3,768,636 ) $ 5,086,905 Liabilities and stockholders’ equity Homebuilding: Accounts payable, accrued expenses and other liabilities $ 136,352 $ 417,315 $ 238,833 $ — $ 792,500 Notes payable 2,540,980 35,664 25,110 — 2,601,754 2,677,332 452,979 263,943 — 3,394,254 Financial services — — 1,817 — 1,817 Intercompany payables 17,178 3,234,346 477,729 (3,729,253 ) — Stockholders’ equity 1,690,834 — 39,383 (39,383 ) 1,690,834 Total liabilities and stockholders’ equity $ 4,385,344 $ 3,687,325 $ 782,872 $ (3,768,636 ) $ 5,086,905
Condensed Consolidating Statements of Cash Flows	Condensed Consolidating Statements of Cash Flows (in thousands) Year Ended November 30, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by (used in) operating activities $ (40,277 ) $ 188,372 $ 40,560 $ — $ 188,655 Cash flows from investing activities: Contributions to unconsolidated joint ventures — (4,852 ) (750 ) — (5,602 ) Return of investments in unconsolidated joint ventures — 4,307 — — 4,307 Purchases of property and equipment, net (4,052 ) (555 ) (177 ) — (4,784 ) Intercompany 144,651 — — (144,651 ) — Net cash provided by (used in) investing activities 140,599 (1,100 ) (927 ) (144,651 ) (6,079 ) Cash flows from financing activities: Change in restricted cash 9,344 — — — 9,344 Payments on mortgages and land contracts due to land sellers and other loans — (67,845 ) — — (67,845 ) Issuance of common stock under employee stock plans 5,343 — — — 5,343 Excess tax benefits from stock-based compensation 186 — — — 186 Payments of cash dividends (8,586 ) — — — (8,586 ) Stock repurchases (88,359 ) — — — (88,359 ) Intercompany — (115,729 ) (28,922 ) 144,651 — Net cash used in financing activities (82,072 ) (183,574 ) (28,922 ) 144,651 (149,917 ) Net increase in cash and cash equivalents 18,250 3,698 10,711 — 32,659 Cash and cash equivalents at beginning of year 444,850 96,741 18,750 — 560,341 Cash and cash equivalents at end of year $ 463,100 $ 100,439 $ 29,461 $ — $ 593,000 Year Ended November 30, 2015 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by operating activities $ 44,422 $ 110,688 $ 26,075 $ — $ 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 ) (1,271 ) (516 ) — (4,677 ) Intercompany 45,470 — — (45,470 ) — Net cash provided by (used in) investing activities 42,580 (7,896 ) (517 ) (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 — (19,586 ) (25,884 ) 45,470 — Net cash provided by (used in) financing activities 54,568 (42,463 ) (25,884 ) 45,470 31,691 Net increase (decrease) in cash and cash equivalents 141,570 60,329 (326 ) — 201,573 Cash and cash equivalents at beginning of year 303,280 36,412 19,076 — 358,768 Cash and cash equivalents at end of year $ 444,850 $ 96,741 $ 18,750 $ — $ 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 $ (641,728 ) $ (71,592 ) $ — $ (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 ) (4,145 ) (1,442 ) — (5,795 ) Intercompany (794,624 ) — — 794,624 — Net cash provided by (used in) investing activities (794,832 ) (52,991 ) 8,417 794,624 (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 — 730,719 63,905 (794,624 ) — Net cash provided by financing activities 538,636 693,801 63,905 (794,624 ) 501,718 Net increase (decrease) in cash and cash equivalents (173,567 ) (918 ) 730 — (173,755 ) Cash and cash equivalents at beginning of year 476,847 37,330 18,346 — 532,523 Cash and cash equivalents at end of year $ 303,280 $ 36,412 $ 19,076 $ — $ 358,768

Quarterly Results (unaudited) (

Quarterly Results (unaudited) (Tables)	12 Months Ended
	Nov. 30, 2016
Quarterly Financial Information Disclosure [Abstract]
Consolidated quarterly results	The following tables present our consolidated quarterly results for the years ended November 30, 2016 and 2015 (in thousands, except per share amounts): First Quarter Second Quarter Third Quarter Fourth Quarter 2016 Revenues $ 678,371 $ 811,050 $ 913,283 $ 1,191,942 Gross profits 108,694 121,465 151,902 167,667 Inventory impairment and land option contract abandonment charges 1,966 11,740 3,052 36,054 Pretax income 16,027 24,797 53,463 55,028 Net income 13,127 15,597 39,363 37,528 Earnings per share: Basic $ .15 $ .18 $ .46 $ .44 Diluted .14 .17 .42 .40 2015 Revenues $ 580,121 $ 622,969 $ 843,157 $ 985,783 Gross profits 86,739 97,631 133,099 171,482 Inventory impairment and land option contract abandonment charges 448 536 3,532 5,075 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

Summary of Significant Accoun53

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Accounting Policies [Abstract]
Cash equivalents	$ 396,100	$ 342,300
Restricted Cash and Cash Equivalents	0	9,344
Schedule of Equity Method Investments [Line Items]
Debt Issuance Costs, Net	18,300	23,800
Impairment of Real Estate	49,580	8,030	$ 37,628
Property and equipment amount	14,240	13,100
Accumulated depreciation	18,200	15,300
Depreciation expense	3,637	3,411	2,420
Advertising costs incurred	32,700	33,400	30,200
Expensed legal fees	$ 13,600	11,700	$ 10,900
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		$ 26,600

Segment Information (Details)

Segment Information (Details) $ in Thousands		3 Months Ended								12 Months Ended
		Nov. 30, 2016USD ($)	Aug. 31, 2016USD ($)	May 31, 2016USD ($)	Feb. 29, 2016USD ($)	Nov. 30, 2015USD ($)	Aug. 31, 2015USD ($)	May 31, 2015USD ($)	Feb. 28, 2015USD ($)	Nov. 30, 2016USD ($)segment	Nov. 30, 2015USD ($)	Nov. 30, 2014USD ($)
Segment Reporting Information [Line Items]
Inventory, Homes under Construction		$ 1,245,938				$ 1,031,356				$ 1,245,938	$ 1,031,356
Inventory, Real Estate, Land and Land Development Costs		1,727,657				1,766,045				1,727,657	1,766,045
Inventory, Land Held for Development and Sale	[1]	429,633				516,346				429,633	516,346
Inventory, Operative Builders		3,403,228				3,313,747				$ 3,403,228	3,313,747
Number of Reportable Segments | segment										5
Revenues:
Revenues		1,191,942	$ 913,283	$ 811,050	$ 678,371	985,783	$ 843,157	$ 622,969	$ 580,121	$ 3,594,646	3,032,030	$ 2,400,949
Pretax income (loss):
Pretax income (loss)		55,028	$ 53,463	$ 24,797	$ 16,027	69,917	$ 33,954	$ 12,673	$ 10,499	149,315	127,043	94,949
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures										(5,601)	2,488	1,427
Impairment of Real Estate										49,580	8,030	37,628
Assets:
Total assets		5,131,624				5,086,905				5,131,624	5,086,905
Investments in unconsolidated joint ventures:
Investments in unconsolidated joint ventures		64,016				71,558				$ 64,016	71,558
Homebuilding [Member]
Segment Reporting Information [Line Items]
Number of Reportable Segments | segment										4
Revenues:
Revenues										$ 3,582,943	3,020,987	2,389,643
Pretax income (loss):
Pretax income (loss)										144,849	115,419	86,403
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures										(2,181)	(1,804)	741
Assets:
Total assets		5,121,125				5,072,877				$ 5,121,125	5,072,877
Financial services [Member]
Segment Reporting Information [Line Items]
Number of Reportable Segments | segment										1
Pretax income (loss):
Pretax income (loss)										$ 4,466	11,624	8,546
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures										(3,420)	4,292	686
Assets:
Total assets		10,499				14,028				10,499	14,028
Investments in unconsolidated joint ventures:
Investments in unconsolidated joint ventures		$ 7,771				10,440				$ 7,771	10,440
Home Community Mortgage LLC [Member]
Segment Reporting Information [Line Items]
Ownership interest in joint venture		49.90%								49.90%
KBHS, LLC [Member]
Segment Reporting Information [Line Items]
Ownership interest in joint venture		50.00%								50.00%
Corporate and Other [Member] | Homebuilding [Member]
Pretax income (loss):
Pretax income (loss)										$ (98,511)	(92,446)	(71,993)
Assets:
Total assets		$ 1,384,983				1,412,893				1,384,983	1,412,893
Central [Member]
Segment Reporting Information [Line Items]
Inventory, Homes under Construction		297,290				263,345				297,290	263,345
Inventory, Real Estate, Land and Land Development Costs		456,508				421,783				456,508	421,783
Inventory, Land Held for Development and Sale		15,439				22,082				15,439	22,082
Equity in income (loss) of unconsolidated joint ventures:
Impairment of Real Estate										10,633	0	0
Investments in unconsolidated joint ventures:
Investments in unconsolidated joint ventures		0				0				0	0
Central [Member] | Homebuilding [Member]
Revenues:
Revenues										1,018,535	809,738	698,429
Pretax income (loss):
Pretax income (loss)										85,924	70,959	47,214
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures										0	0	0
Assets:
Total assets		909,497				829,811				909,497	829,811
West Coast [Member]
Segment Reporting Information [Line Items]
Inventory, Homes under Construction		695,742				535,795				695,742	535,795
Inventory, Real Estate, Land and Land Development Costs		820,088				788,607				820,088	788,607
Inventory, Land Held for Development and Sale		210,910				277,954				210,910	277,954
Equity in income (loss) of unconsolidated joint ventures:
Impairment of Real Estate										8,209	645	27,285
Investments in unconsolidated joint ventures:
Investments in unconsolidated joint ventures		51,612				54,360				51,612	54,360
West Coast [Member] | Homebuilding [Member]
Revenues:
Revenues										1,638,078	1,402,264	1,089,857
Pretax income (loss):
Pretax income (loss)										148,014	127,946	116,325
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures										(1,561)	(1,106)	(374)
Assets:
Total assets		1,847,279				1,740,299				1,847,279	1,740,299
Southeast [Member]
Segment Reporting Information [Line Items]
Inventory, Homes under Construction		122,020				120,184				122,020	120,184
Inventory, Real Estate, Land and Land Development Costs		182,554				238,324				182,554	238,324
Inventory, Land Held for Development and Sale		80,357				111,633				80,357	111,633
Equity in income (loss) of unconsolidated joint ventures:
Impairment of Real Estate										27,547	4,132	3,951
Investments in unconsolidated joint ventures:
Investments in unconsolidated joint ventures		2,499				2,501				2,499	2,501
Southeast [Member] | Homebuilding [Member]
Revenues:
Revenues										478,857	410,743	401,853
Pretax income (loss):
Pretax income (loss)										(29,385)	(22,758)	(11,158)
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures										(2)	(2)	3,291
Assets:
Total assets		414,730				507,844				414,730	507,844
Southwest [Member]
Segment Reporting Information [Line Items]
Inventory, Homes under Construction		130,886				112,032				130,886	112,032
Inventory, Real Estate, Land and Land Development Costs		268,507				317,331				268,507	317,331
Inventory, Land Held for Development and Sale		122,927				104,677				122,927	104,677
Equity in income (loss) of unconsolidated joint ventures:
Impairment of Real Estate										3,191	3,253	6,392
Investments in unconsolidated joint ventures:
Investments in unconsolidated joint ventures		9,905				14,697				9,905	14,697
Southwest [Member] | Homebuilding [Member]
Revenues:
Revenues										447,473	398,242	199,504
Pretax income (loss):
Pretax income (loss)										38,807	31,718	6,015
Equity in income (loss) of unconsolidated joint ventures:
Equity in income (loss) of unconsolidated joint ventures										(618)	(696)	(2,176)
Assets:
Total assets		$ 564,636				$ 582,030				$ 564,636	582,030
Nationstar Mortgage LLC [Member] | Home Community Mortgage LLC [Member]
Segment Reporting Information [Line Items]
Ownership interest in joint venture		50.10%								50.10%
Stearns Lending, LLC [Member] | KBHS, LLC [Member]
Segment Reporting Information [Line Items]
Ownership interest in joint venture		50.00%								50.00%
Land Option Contract Abandonment [Member]
Equity in income (loss) of unconsolidated joint ventures:
Loss on Contract Termination										$ 3,232	1,561	1,803
Land Option Contract Abandonment [Member] | Central [Member]
Equity in income (loss) of unconsolidated joint ventures:
Loss on Contract Termination										460	225	995
Land Option Contract Abandonment [Member] | West Coast [Member]
Equity in income (loss) of unconsolidated joint ventures:
Loss on Contract Termination										769	352	554
Land Option Contract Abandonment [Member] | Southeast [Member]
Equity in income (loss) of unconsolidated joint ventures:
Loss on Contract Termination										1,750	984	254
Land Option Contract Abandonment [Member] | Southwest [Member]
Equity in income (loss) of unconsolidated joint ventures:
Loss on Contract Termination										$ 253	$ 0	$ 0
Metro Washington, D.C. [Member] | Southeast [Member]
Segment Reporting Information [Line Items]
Percent of Homebuilding Revenues										2.00%
Metro Washington, D.C. [Member] | Land Option Contract Abandonment [Member] | Southeast [Member]
Equity in income (loss) of unconsolidated joint ventures:
Loss on Contract Termination										$ 1,400
[1]	Land held for sale totaled $63.4 million at November 30, 2016 and $5.7 million at November 30, 2015.

Financial Services (Details)

Financial Services (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2015	Aug. 31, 2015	May 31, 2015	Feb. 28, 2015	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Financial services:
Insurance commissions									$ 6,728	$ 7,137	$ 6,566
Title services									4,975	3,905	3,593
Marketing services fees									0	0	1,147
Interest income									0	1	0
Total									11,703	11,043	11,306
Expenses
Expenses									(3,817)	(3,711)	(3,446)
Operating income (loss)									152,401	138,621	115,969
Equity in income (loss) of unconsolidated joint ventures									(5,601)	2,488	1,427
Pretax income (loss)	$ 55,028	$ 53,463	$ 24,797	$ 16,027	$ 69,917	$ 33,954	$ 12,673	$ 10,499	149,315	127,043	94,949
Assets
Cash and cash equivalents	593,000				560,341				593,000	560,341	358,768	$ 532,523
Receivables	231,665				247,998				231,665	247,998
Investments in unconsolidated joint ventures	64,016				71,558				64,016	71,558
Other assets	91,145				88,992				91,145	88,992
Total assets	5,131,624				5,086,905				5,131,624	5,086,905
Liabilities
Accounts payable and accrued expenses	766,327				792,500				766,327	792,500
Total liabilities	2,003				1,817				2,003	1,817
Financial services [Member]
Expenses
Operating income (loss)									7,886	7,332	7,860
Equity in income (loss) of unconsolidated joint ventures									(3,420)	4,292	686
Pretax income (loss)									4,466	11,624	8,546
Assets
Cash and cash equivalents	914				1,299				914	1,299	$ 2,402
Receivables	1,764				2,245				1,764	2,245
Investments in unconsolidated joint ventures	7,771				10,440				7,771	10,440
Other assets	50				44				50	44
Total assets	10,499				14,028				10,499	14,028
Liabilities
Accounts payable and accrued expenses	$ 2,003				$ 1,817				$ 2,003	$ 1,817

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	Jan. 29, 2013	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Debt Instrument [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		7,300,000	8,000,000	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, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2015	Aug. 31, 2015	May 31, 2015	Feb. 28, 2015	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Numerator:
Net income	$ 37,528	$ 39,363	$ 15,597	$ 13,127	$ 44,017	$ 23,254	$ 9,573	$ 7,799	$ 105,615	$ 84,643	$ 918,349
Participating Securities, Distributed and Undistributed Earnings (Loss), Basic									(45)	(33)	(26)
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic									(508)	(273)	(2,667)
Numerator for basic earnings per share									105,062	84,337	915,656
Interest expense and amortization of debt issuance costs associated with convertible senior notes, net of taxes									2,667	2,667	2,667
Undistributed Earnings (Loss) Allocated to Participating Securities, Diluted									508	273	2,667
Less: Undistributed earnings reallocated to nonvested restricted stock									(453)	(244)	(2,398)
Numerator for diluted earnings per share									$ 107,784	$ 87,033	$ 918,592
Denominator:
Weighted average shares outstanding — basic									85,706	92,054	89,265
Share-based payments, shares									2,170	2,401	1,647
Convertible senior notes, shares									8,402	8,402	8,402
Weighted average shares outstanding — diluted									96,278	102,857	99,314
Basic earnings (loss) per share, in dollars per share	$ 0.44	$ 0.46	$ 0.18	$ 0.15	$ 0.48	$ 0.25	$ 0.10	$ 0.08	$ 1.23	$ 0.92	$ 10.26
Diluted earnings (loss) per share, in dollars per share	$ 0.40	$ 0.42	$ 0.17	$ 0.14	$ 0.43	$ 0.23	$ 0.10	$ 0.08	$ 1.12	$ 0.85	$ 9.25

Receivables (Details)

Receivables (Details) - USD ($) $ in Thousands		Nov. 30, 2016	Nov. 30, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Utility and Municipality Receivable	[1]	$ 102,780	$ 92,082
Deposits Assets		13,665	12,355
Other Receivables		28,745	36,626
Accounts Receivable, Gross		244,275	260,215
Allowances for doubtful accounts		(12,610)	(12,217)
Receivables		231,665	247,998
Self Insurance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loss Contingency, Receivable	[2]	84,476	95,316
Warranty and Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loss Contingency, Receivable	[2]	$ 14,609	$ 23,836
[1]	These receivables 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, improvement district 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 improvement districts or municipalities.
[2]	As described in Note 15 – Commitments and Contingencies, in 2016, we reclassified estimated probable insurance and other recoveries from our self-insurance liability to receivables for all years presented.

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2016		Nov. 30, 2015		Nov. 30, 2014
Interest Costs
Capitalized interest at beginning of year		$ 288,442	[1]	$ 266,668	[1]	$ 216,681
Interest incurred		185,466		186,885		171,541
Interest Expense		(5,900)		(21,856)		(30,750)
Interest amortized to construction and land costs	[2]	(161,285)		(143,255)		(90,804)
Capitalized interest at end of year	[1]	306,723		288,442		$ 266,668
Inventories
Homes under construction		1,245,938		1,031,356
Land under development		1,727,657		1,766,045
Land held for future development or sale	[3]	429,633		516,346
Total		3,403,228		3,313,747
Land held for future development	[3]	63,400		5,700
Land [Member]
Interest Costs
Interest amortized to construction and land costs		$ (700)		$ (16,400)
[1]	ized interest, as inventory impairment charges recognized, if any, are not generally allocated to specific components of inventory.
[2]	included $.7 million and $16.4 million, respectively, related to land sales during the periods.(b)Capitalized interest amounts presented in the table reflect the gross amount of ca
[3]	Land held for sale totaled $63.4 million at November 30, 2016 and $5.7 million at November 30, 2015.

Inventory Impairments and Lan60

Inventory Impairments and Land Option Contract Abandonments (Details)		12 Months Ended
		Nov. 30, 2016USD ($)lotcommunitydeliveryproperty	Nov. 30, 2015USD ($)lotcommunitydeliveryproperty	Nov. 30, 2014USD ($)lotdeliveryproperty
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate		$ 49,580,000	$ 8,030,000	$ 37,628,000
Acquisition Costs Related To Land Option Contracts And Other Similar Contracts		56,000,000	65,600,000
Carrying Value of Communities of Land Parcels Evaluated for Impairment		$ 423,100,000	$ 286,300,000	$ 266,900,000
Number of land parcels or communities associated with non cash inventory impairment charges | property		30	4	8
Number of land parcels or communities evaluated for recoverability | property		68	35	32
Aggregate carrying value of inventory impacted by pretax, noncash inventory impairment charges		$ 215,300,000	$ 254,200,000
Number of communities and various other land parcels impacted by pretax, noncash inventory impairment charges | community		28	28
Number of Lots on which abandonment charges are recognized | lot		744	1,166	1,306
Remaining useful life in addition to specified useful lives		1 year
Specified period of remaining useful lives		10 years
Expected realization period of inventory maximum		5 years
Land Held for Sale [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate		$ 36,700,000
Land Held for Future Development [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate		12,900,000	$ 11,000,000
Land [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate			$ 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]
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]	$ 216,200	$ 178,100	$ 216,100
Fair Value Estimate Input at Sales for Period | delivery	[1]	1	2	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]	$ 977,400	$ 509,400	$ 316,800
Fair Value Estimate Input at Sales for Period | delivery	[1]	4	4	4
Fair Value Inputs, Discount Rate	[1]	20.00%	20.00%	19.00%
Estimate of Fair Value Measurement [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Assets, Fair Value Disclosure		$ 39,500,000	$ 12,000,000	$ 30,600,000
Land Option Contract Abandonment [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Loss on Contract Termination		3,232,000	1,561,000	1,803,000
West Coast [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate		8,209,000	645,000	27,285,000
West Coast [Member] | Land Option Contract Abandonment [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Loss on Contract Termination		769,000	352,000	554,000
Southeast [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate		27,547,000	4,132,000	3,951,000
Southeast [Member] | Land Option Contract Abandonment [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Loss on Contract Termination		1,750,000	$ 984,000	$ 254,000
Metro Washington, D.C. [Member] | Southeast [Member] | Land Option Contract Abandonment [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Loss on Contract Termination		$ 1,400,000
[1]	The ranges of inputs used in each period primarily reflect differences between the housing markets where each of the impacted communities are located, rather than fluctuations in prevailing market conditions.

Variable Interest Entities (Det

Variable Interest Entities (Details) $ in Thousands	Nov. 30, 2016USD ($)joint_venture	Nov. 30, 2015USD ($)joint_venture
Variable Interest Entity [Line Items]
Number of Investments in Unconsolidated Joint Ventures | joint_venture	7	7
Cash Deposits	$ 42,829	$ 54,537
Aggregate Purchase Price	1,073,596	1,187,707
Acquisition Costs Related To Land Option Contracts And Other Similar Contracts	56,000	65,600
Increase in inventories and accrued expenses and other liabilities	$ 50,500	$ 110,000
Unconsolidated VIEs [Member]
Variable Interest Entity [Line Items]
Number of Investments in Unconsolidated Joint Ventures | joint_venture	1	0
Cash Deposits	$ 24,910	$ 32,436
Aggregate Purchase Price	641,642	611,567
Other land option contracts and other similar contracts [Member]
Variable Interest Entity [Line Items]
Cash Deposits	17,919	22,101
Aggregate Purchase Price	$ 431,954	$ 576,140

Investments in Unconsolidated62

Investments in Unconsolidated Joint Ventures (Narrative) (Details) $ in Thousands	Nov. 30, 2016USD ($)joint_venture	Nov. 30, 2015USD ($)joint_venture
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated joint ventures | $	$ 64,016	$ 71,558
Number of investments in unconsolidated joint ventures | joint_venture	7	7
West Coast [Member]
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated joint ventures | $	$ 51,612	$ 54,360
West Coast [Member] | Investments in Unconsolidated Joint Ventures with Debt
Schedule of Equity Method Investments [Line Items]
Number of investments in unconsolidated joint ventures | joint_venture	1	1

Investments in Unconsolidated63

Investments in Unconsolidated Joint Ventures (Condensed Information of Unconsolidated Joint Ventures) (Details) - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Statements of Operations of Unconsolidated Joint Ventures
Revenues		$ 46,389	$ 15,322	$ 12,538
Equity Method Investment, Summarized Financial Information, Cost of Sales		(50,566)	(23,123)	(10,790)
Other expense, net		(4,465)	(3,360)	(1,476)
Income (loss)		(8,642)	(11,161)	$ 272
Assets
Cash		31,928	23,309
Receivable		882	7,546
Inventories		165,385	175,196
Other assets		629	910
Total assets		198,824	206,961
Liabilities and equity
Accounts payable and other liabilities		19,880	17,108
Equity Method Investments Summarized Financial Information Debt	[1]	44,381	39,064
Equity		134,563	150,789
Total liabilities and equity		$ 198,824	$ 206,961
[1]	One of our unconsolidated joint ventures has 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. Outstanding debt under the agreement 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, 2016 or 2015.

Investments in Unconsolidated64

Investments in Unconsolidated Joint Ventures (Additional Information for Investments in Unconsolidated Joint Ventures) (Details) $ in Thousands	12 Months Ended
	Nov. 30, 2016USD ($)lotjoint_venture	Nov. 30, 2015USD ($)lotjoint_venture	Nov. 30, 2014USD ($)
Schedule of Equity Method Investments [Line Items]
Long-Term Purchase Commitment, Lots | lot	121
Number of investments in unconsolidated joint ventures | joint_venture	7	7
Long-term Purchase Commitment, Period	4 years
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	$ 64,016	$ 71,558
Number of Unconsolidated Joint Venture Lots Controlled Under Land Option Contracts | lot	471	677
Proceeds from sale of investment in unconsolidated joint venture	$ 0	$ 0	$ 10,110
Long-term Purchase Commitment, Amount	53,000
Inspirada Builders LLC [Member]
Schedule of Equity Method Investments [Line Items]
Increase in Inventories Due to Distribution of Land From Equity Method Investments	4,277	12,705	90,115
Increase in Inventory and Inventory-Related Obligations Associated with TIFE	$ 0	$ 0	$ 33,197
Investments in Unconsolidated Joint Ventures with Purchase Commitments [Member]
Schedule of Equity Method Investments [Line Items]
Number of investments in unconsolidated joint ventures | joint_venture	1

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands		Nov. 30, 2016	Nov. 30, 2015	Jan. 29, 2013
Other Assets [Line Items]
Cash surrender value of insurance contracts		$ 70,829	$ 67,786
Debt Issuance Costs, Line of Credit Arrangements, Net	[1]	1,182	1,626
Property and equipment, net		14,240	13,100
Prepaid expenses		4,894	6,480
Total		$ 91,145	$ 88,992
Convertible senior notes due February 1, 2019 at 1.375%
Other Assets [Line Items]
Senior notes, rate		1.375%	1.375%	1.375%
[1]	As described in Note 1 – Summary of Significant Accounting Policies, in connection with our adoption of ASU 2015-03 effective November 30, 2016, unamortized debt issuance costs associated with our senior notes were retrospectively reclassified from other assets to notes payable in our consolidated balance sheets. The debt issuance costs reflected are associated with our Credit Facility.

Accrued Expenses and Other Li66

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Schedule of Equity Method Investments [Line Items]
Self-Insurance and other litigation liabilities	[1]	$ 170,988	$ 191,812
Employee compensation and related benefits		130,352	114,456
Warranty liability		56,682	49,085	$ 45,196	$ 48,704
Customer Deposits, Current		18,175	14,563
Accrued interest payable		67,411	62,645
Inventory-related liabilities	[2]	82,682	148,887
Real estate and business taxes		14,370	14,255
Other		10,336	13,027
Total		550,996	608,730
Inspirada Builders LLC [Member]
Schedule of Equity Method Investments [Line Items]
Increase in Inventory and Inventory-Related Obligations Associated with TIFE		$ 0	$ 0	$ 33,197
[1]	As described in Note 15 – Commitments and Contingencies, in 2016, we reclassified estimated probable insurance and other recoveries from our self-insurance liability to receivables for all years presented.
[2]	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, 2016	Nov. 30, 2015	Nov. 30, 2014
Component of income tax benefit (expense) in the consolidated statement of operations
Current federal income tax benefit		$ (1,900)	$ (1,400)	$ 100
Current state income tax benefit (expense)		(1,000)	(2,000)	(1,900)
Current income tax benefit		(2,900)	(3,400)	(1,800)
Deferred federal income tax benefit		(28,700)	(35,900)	646,000
Deferred state income tax benefit		(12,100)	(3,100)	179,200
Deferred income tax benefit		(40,800)	(39,000)	825,200
Federal income tax benefit		(30,600)	(37,300)	646,100
State income tax benefit		(13,100)	(5,100)	177,300
Income tax benefit	$ 824,200	$ (43,700)	$ (42,400)	$ 823,400

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($) $ in Thousands	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Deferred tax liabilities
Capitalized expenses	$ 116,551	$ 110,408
State taxes	65,766	68,866
Other	286	196
Total	182,603	179,470
Deferred tax assets:
NOLs from 2006 through 2016	350,329	423,274
Tax credits	197,766	186,169
Inventory impairments and land option contract abandonments	176,555	179,828
Employee benefits	102,321	93,395
Warranty, legal and other accruals	51,448	49,655
Capitalized expenses	36,950	34,887
Partnerships and joint ventures	16,293	18,557
Depreciation and amortization	8,530	9,146
Other	6,196	4,537
Total	946,388	999,448
Valuation allowance	(24,800)	(37,782)	$ (41,200)
Total	921,588	961,666
Deferred Tax Assets, Net	$ 738,985	$ 782,196

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Nov. 30, 2014	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
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		$ (52,260)	$ (44,462)	$ (33,232)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		(35.00%)	(35.00%)	(35.00%)
Increase (decrease) resulting from
Valuation allowance for deferred tax assets		$ 12,982	$ 3,356	$ 825,232
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent		8.70%	2.60%	869.10%
Tax credits		$ 4,447	$ 6,926	$ 1,875
Effective Income Tax Rate Reconciliation, Tax Credit, Percent		3.00%	5.50%	2.00%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Depreciation and Amortization, Amount		$ 1,842	$ 3,183	$ 15,765
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Depreciation, Percent		1.20%	2.50%	16.60%
Effective Income Tax Rate Reconciliation, Equity in Earnings (Losses) of Unconsolidated Subsidiary, Amount		$ (86)	$ 1,617	$ 10,441
Effective Income Tax Rate Reconciliation, Equity in Earnings (Losses) of Unconsolidated Subsidiary, Percent		(0.10%)	1.30%	11.00%
NOLs reconciliation		$ (3,691)	$ (3,379)	$ 12,973
Effective Income Tax Reconciliation Change Net Operating Loss, Percentage		(2.50%)	(2.70%)	13.70%
State taxes, net of federal income tax benefit		$ (7,511)	$ (5,155)	$ (13,907)
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent		(5.00%)	(4.10%)	(14.70%)
Other, net		$ 577	$ (4,486)	$ 4,253
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent		0.40%	(3.50%)	4.50%
Income tax benefit	$ 824,200	$ (43,700)	$ (42,400)	$ 823,400
Effective Income Tax Rate Reconciliation, Percent		(29.30%)	(33.40%)	867.20%
Reconciliation of the beginning and ending balances of the gross unrecognized benefits
Balance at beginning of year		$ 56	$ 206	$ 206
Reductions due to lapse of statute of limitations		0	(150)	0
Balance at the end of year	$ 206	$ 56	$ 56	$ 206

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Nov. 30, 2014	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Income Tax Contingency [Line Items]
Income Tax Credits and Adjustments		$ 15,200,000	$ 5,600,000
Effective Income Tax Rate Reconciliation, Percent		(29.30%)	(33.40%)	867.20%
Future Income From Continuing Operations Before Income Taxes		$ 1,800,000,000
Income Taxes (Textual) [Abstract]
Income tax benefit (expense)	$ 824,200,000	(43,700,000)	$ (42,400,000)	$ 823,400,000
Deferred income taxes		43,211,000	43,036,000	(825,232,000)
Deferred Tax Assets, Net		(763,800,000)	(820,000,000)
Net Increase in valuation allowance recorded against net deferred tax assets		$ 13,000,000	3,400,000
Period for Carry forward of tax benefits related to deferred tax assets		20 years
Deferred Tax Assets, Operating Loss Carryforwards, State and Local, Expired		$ 500,000	1,700,000
Deferred Tax Assets, Tax Credit Carryforwards		104,900,000
Accumulated Deferred Investment Tax Credit		3,200,000
Valuation allowance	(41,200,000)	(24,800,000)	(37,782,000)	(41,200,000)
Unrecognized tax benefits that if recognized would affect the Company's annual effective tax rate	100,000	100,000	100,000	100,000
Total accrued interest and penalties related to unrecognized income tax benefits		0	0
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit		0	0
Unrecognized Tax Benefits	206,000	56,000	56,000	206,000	$ 206,000
Income taxes refunded		550,000	11,000	1,728,000
Valuation allowance against net deferred tax assets	$ 41,200,000	24,800,000	37,782,000	$ 41,200,000
Total deferred tax assets		921,588,000	$ 961,666,000
Gross Unrecognized Tax Benefits Including Interest and Penalties		$ 100,000
Maximum
Income Taxes (Textual) [Abstract]
Tax Credit Carryforward, Expiration Date		Dec. 31, 2036
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, 2026
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
State and Local Jurisdiction [Member]
Income Taxes (Textual) [Abstract]
Operating Loss Carryforwards		$ 146,100,000
State and Local Jurisdiction [Member] | Maximum
Income Taxes (Textual) [Abstract]
Operating Loss Carryforwards, Expiration Date		Dec. 31, 2036
State and Local Jurisdiction [Member] | Minimum
Income Taxes (Textual) [Abstract]
Operating Loss Carryforwards, Expiration Date		Dec. 31, 2017
Internal Revenue Service (IRS) [Member]
Income Taxes (Textual) [Abstract]
Operating Loss Carryforwards		$ 204,200,000
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		Nov. 30, 2016	Nov. 30, 2015	Feb. 17, 2015	Nov. 30, 2014	Mar. 25, 2014	Mar. 25, 2014	Mar. 25, 2014	Oct. 29, 2013	Jan. 29, 2013	Jan. 29, 2013	Jan. 29, 2013	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		$ 2,640,149	$ 2,601,754
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		$ 66,927	$ 35,664
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		100.00%	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%
Debt Instrument, Interest Rate, Effective Percentage																							6.30%
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																	9.60%		9.634%
Notes payable		$ 263,932	$ 262,570
Debt Instrument, Face Amount	[1]																	$ 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%		7.3298%
Notes payable		$ 299,647	$ 299,431
Debt Instrument, Face Amount	[1]																				$ 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%		4.75%
Debt Instrument, Interest Rate, Effective Percentage						5.00%		5.0367%
Notes payable		$ 397,364	$ 396,309
Debt Instrument, Face Amount	[2]						$ 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														8.50%		8.5213%
Notes payable		$ 344,811	$ 343,327
Debt Instrument, Face Amount	[1]														$ 350,000
Senior Notes [Member] | Senior notes due December 15, 2021 at 7.00%
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		7.00%	7.00%		7.00%
Debt Instrument, Interest Rate, Effective Percentage									7.2166%				7.70%
Notes payable		$ 445,911	$ 445,079
Debt Instrument, Face Amount	[2]								$ 450,000
Senior Notes [Member] | Senior notes due September 15, 2022 at 7.50%
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		7.50%	7.50%		7.50%
Debt Instrument, Interest Rate, Effective Percentage									7.20%				7.699%
Notes payable		$ 346,774	$ 346,204
Debt Instrument, Face Amount	[1]												$ 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%	7.625%
Debt Instrument, Interest Rate, Effective Percentage				7.8314%
Notes payable		$ 247,404	$ 247,000
Debt Instrument, Face Amount	[2]			$ 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										1.90%		1.912%
Notes payable		$ 227,379	$ 226,170
Debt Instrument, Face Amount	[3]										$ 230,000
[1]	(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.
[2]	(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.
[3]	(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 (Narrative) (Deta

Notes Payable (Narrative) (Details) - USD ($)		Jan. 29, 2013	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014	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]
Debt Issuance Costs, Net			$ 18,300,000	$ 23,800,000
Line of Credit Facility, Current Borrowing Capacity			$ 275,000,000
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	8,402,000
Letters of Credit Outstanding, Amount			$ 31,000,000	$ 33,400,000
Primarily inventories carrying value			181,800,000
Repayments of Long-term Debt			0	199,906,000	$ 0
Proceeds from Issuance of Senior Long-term Debt			$ 0	$ 250,000,000	$ 400,000,000
Common Stock, Capital Shares Reserved for Future Issuance			12,602,735
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			$ 331,900,000
Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans due 2014			300,000,000
Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans due 2015			630,000,000
Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans due 2016			350,000,000
Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans due 2017			0
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	[1]	$ 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
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]
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	[2]					$ 250,000,000
Proceeds from Issuance of Senior Long-term Debt				$ 245,400,000
Senior notes, rate			7.625%	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	[2]						$ 400,000,000
Senior notes, rate			4.75%	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%
Senior Notes [Member] | Senior notes due September 15, 2022 at 7.50%
Debt Instrument [Line Items]
Conversion Price Premium									100.00%
Senior notes	[3]								$ 350,000,000
Senior notes, rate			7.50%	7.50%	7.50%
Senior Notes [Member] | Senior notes due December 15, 2021 at 7.00%
Debt Instrument [Line Items]
Conversion Price Premium								100.00%
Senior notes	[2]							$ 450,000,000
Senior notes, rate			7.00%	7.00%	7.00%
Senior Notes [Member] | Senior notes due September 15, 2017 at 9.10%
Debt Instrument [Line Items]
Conversion Price Premium											100.00%
Senior notes	[3]										$ 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	[3]											$ 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	[3]									$ 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			244,000,000
Letter of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity			137,500,000
Line of Credit Facility, Amount Outstanding			30,989,000
Line of Credit Facility, Remaining Borrowing Capacity			106,500,000
LOC Facilities [Member]
Debt Instrument [Line Items]
Letters of Credit Outstanding, Amount			$ 0	$ 9,100,000
Minimum | Mortgages and Land Contracts Due to Land Sellers and Other Loans [Member]
Debt Instrument [Line Items]
Senior notes, rate			100.00%	400.00%	500.00%
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%
[1]	(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.
[2]	(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.
[3]	(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.

Fair Value Disclosures (Details

Fair Value Disclosures (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2016	Nov. 30, 2015
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Post Impairment Fair Value	[1]	$ 3,657	$ 0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Post Impairment Fair Value	[1]	$ 37,329	$ 11,988
[1]	(a)Amounts represent the aggregate fair value for real estate assets impacted by inventory impairment charges during the applicable 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 (Detai74

Fair Value Disclosures (Details 1) - USD ($) $ in Thousands		Nov. 30, 2016	Nov. 30, 2015	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	[1]	$ 2,345,843	$ 2,339,920
Convertible Debt, Fair Value Disclosures	[1]	227,379	226,170
Estimate of Fair Value Measurement [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	[1]	2,494,844	2,429,850
Convertible Debt, Fair Value Disclosures	[1]	$ 223,675	$ 211,313
[1]	The carrying values for the senior notes and convertible senior notes, as presented, include unamortized debt issuance costs. Debt issuance costs are not factored into the estimated fair values of these notes.

Fair Value Disclosures (Detai75

Fair Value Disclosures (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of Real Estate	$ 49,580	$ 8,030	$ 37,628
Inventory Impacted by Pretax Noncash Inventory Impairment Charges, Carrying Value	89,100	20,000
Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 39,500	$ 12,000	$ 30,600

Commitments and Contingencies76

Commitments and Contingencies (Details) - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Changes in the Company's warranty liability
Balance at beginning of year		$ 49,085	$ 45,196	$ 48,704
Warranties issued		30,135	23,018	18,479
Payments	[1]	(23,190)	(26,367)	(39,458)
Adjustments	[2]	652	7,238	17,471
Balance at end of year		56,682	49,085	45,196
Self Insurance Reserve, Balance at beginning of year		173,011	205,228	239,067
Expenses Associated with Self Insurance	[3]	24,808	18,590	13,491
Payments, Net of Recoveries for Self Insurance		(28,395)	(21,201)	(21,045)
Self Insurance Reserve, Balance at end of year		158,584	173,011	205,228
Self Insurance [Member]
Loss Contingencies [Line Items]
Loss Contingency, Receivable, Period Increase (Decrease)	[4]	(10,840)	(29,606)	(26,285)
Changes in the Company's warranty liability
Loss Contingency, Receivable, Period Increase (Decrease)	[4]	$ (10,840)	$ (29,606)	$ (26,285)
[1]	Payments for 2016, 2015 and 2014 included $2.3 million, $8.4 million and $26.6 million, respectively, to repair homes affected by water intrusion-related issues in certain of our communities in central and southwest Florida.
[2]	Adjustments for 2016, 2015 and 2014 included the reclassification of certain estimated minimum probable recoveries to receivables in connection with the above-noted water intrusion-related issues. Adjustments in 2014 also included the reclassification of estimated minimum probable recoveries to establish a separate accrual for a water intrusion-related inquiry, as described below. The adjustments for each year had no impact on our consolidated statements of operations. There were no estimated minimum probable recoveries netted against our warranty liability at November 30, 2016.
[3]	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
[4]	Amount for each period represents the year-over-year change in the estimated probable insurance and other recoveries that were reclassified to receivables to present our self-insurance liability on a gross basis.

Commitments and Contingencies77

Commitments and Contingencies (Details Textual)		12 Months Ended
		Nov. 30, 2016USD ($)propertyHome	Nov. 30, 2015USD ($)property	Nov. 30, 2014USD ($)property	Nov. 30, 2013USD ($)
Loss Contingencies [Line Items]
Impairment of Real Estate		$ 49,580,000	$ 8,030,000	$ 37,628,000
Operating Leases, Rent Expense, Net		$ 7,500,000	8,500,000	7,700,000
Minimum warranty on electrical and other building systems		2 years
Maximum Warranty on Electrical Heating Cooling Plumbing and Other Building Systems		5 years
Standard Product Warranty Accrual, Payments	[1]	$ 23,190,000	$ 26,367,000	$ 39,458,000
Product Liability Contingency, Third Party Recovery		$ 0
Number of Land Parcels or Communities Associated with Non Cash Inventory Impairment Charges | property		30	4	8
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		$ 56,682,000	$ 49,085,000	$ 45,196,000	$ 48,704,000
Company's estimated liabilities for construction defect		158,584,000	173,011,000	205,228,000	$ 239,067,000
Expenses associated with self-insurance	[2]	24,808,000	18,590,000	13,491,000
Product Warranty Accrual, Preexisting, Increase (Decrease)	[3]	(652,000)	(7,238,000)	(17,471,000)
Performance bonds		535,700,000	565,400,000
Letters of Credit Outstanding, Amount		31,000,000	33,400,000
Non refundable deposits related to land option and other similar contracts		42,829,000	54,537,000
Aggregate Purchase Price Associated with Land Option and Other Similar Contracts		$ 1,073,596,000	1,187,707,000
Damages from Product Defects [Member]
Loss Contingencies [Line Items]
Minimum Number of Affected Homes for Construction Defect Claims | Home		2
Water Intrusion [Member]
Loss Contingencies [Line Items]
Standard Product Warranty Accrual, Payments		$ 2,300,000	8,400,000	26,600,000
Loss Contingency, Receivable		2,151,000	7,238,000	18,110,000
Self Insurance [Member]
Loss Contingencies [Line Items]
Loss Contingency, Receivable		84,500,000	95,300,000	$ 124,900,000
Warranty and Other [Member]
Loss Contingencies [Line Items]
Loss Contingency, Receivable		$ 14,600,000	$ 23,800,000
[1]	Payments for 2016, 2015 and 2014 included $2.3 million, $8.4 million and $26.6 million, respectively, to repair homes affected by water intrusion-related issues in certain of our communities 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]	Adjustments for 2016, 2015 and 2014 included the reclassification of certain estimated minimum probable recoveries to receivables in connection with the above-noted water intrusion-related issues. Adjustments in 2014 also included the reclassification of estimated minimum probable recoveries to establish a separate accrual for a water intrusion-related inquiry, as described below. The adjustments for each year had no impact on our consolidated statements of operations. There were no estimated minimum probable recoveries netted against our warranty liability at November 30, 2016.

Commitments and Contingencies78

Commitments and Contingencies (Schedule of Future Minimum Rental Payments for Operating Leases) (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Operating Leased Assets [Line Items]
2,015	$ 7,660
2,016	7,218
2,017	6,653
2,018	4,354
2,019	2,592
Thereafter	7,644
Total Minimum Lease Payments	36,121
Rental expense on operating leases	$ 7,500	$ 8,500	$ 7,700
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, 2016USD ($)a	Nov. 30, 2015USD ($)
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
Loss Contingency Accrual		$ 7,500,000
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
Minimum | San Diego Region (Basin Plan) [Domain]
Loss Contingencies [Line Items]
Site Contingency, Loss Exposure Not Accrued, Low Estimate	$ 100,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	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, 2016	Nov. 30, 2015	Nov. 30, 2014	Jan. 12, 2016	Jul. 17, 2014	Mar. 25, 2014
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
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period													551,898	76,164	36,665
Authorized repurchase of common stock					4,000,000									4,000,000
Common Stock, Shares, Issued	116,224,208				115,547,682								116,224,208	115,547,682
Stock repurchases													$ 88,359	$ 567	$ 546
Treasury stock, Value													$ 88,359	$ 567	$ 546
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
Common stock, par value, in dollars	1				$ 1								$ 1	$ 1				$ 1
Treasury Stock Acquired, Average Cost Per Share															$ 18
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	$ 0.025
Proceeds from issuance of common stock, net													$ 0	$ 0	$ 137,045
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
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period													0
Authorized repurchase of common stock																	680,000
Common Stock, Shares, Issued	0												0
January 2016 Stock Repurchase Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized repurchase of common stock																10,000,000
Treasury Stock, Shares, Acquired													8,373,000
Stock repurchases													$ 85,900
Not Part of a Share Repurchase Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury stock, Value													$ 2,500	$ 600	$ 500

Accumulated Other Comprehensi81

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, 2016	Nov. 30, 2015	Nov. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance		$ (17,319)
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax	[1]	1,635	$ 2,404	$ 1,913
Income tax expense related to items of other comprehensive income		(841)	(2,460)	(1,604)
Other comprehensive income (loss), net of tax		1,262	3,689	(3,492)
Ending Balance		(16,057)	(17,319)
Accumulated Define Benefit Plans Adjustment Member
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning Balance		(17,319)	(21,008)
Net actuarial gain (loss) arising during the period		468	3,745
Reclassification from Accumulated Other Comprehensive Income, Current Period, before Tax		1,635	2,404
Income tax expense related to items of other comprehensive income		(841)	(2,460)
Other comprehensive income (loss), net of tax		1,262	3,689
Ending Balance		$ (16,057)	$ (17,319)	$ (21,008)
[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 Comprehensi82

Accumulated Other Comprehensive Loss (Amounts reclassified from accumulated other comprehensive loss) (Details) - USD ($) $ in Thousands		12 Months Ended
		Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amortization of net actuarial loss		$ 79	$ 848	$ 357
Amortization of prior service cost		1,556	1,556	1,556
Total reclassifications	[1]	1,635	$ 2,404	$ 1,913
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 Pl83

Employee Benefit and Stock Plans (Details) - $ / shares	Oct. 06, 2016	Oct. 08, 2015	Oct. 09, 2014	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
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				12,635,644	11,735,042	10,531,938
Options outstanding at beginning of year, Weighted Average Exercise Price in dollars per share				$ 19.39	$ 20.45	$ 21.11
Granted, Options				1,012,686	1,262,000	1,273,647
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price in dollars per share				$ 16.21	$ 14.92	$ 14.62
Employee stock options/other, Shares				(551,898)	(76,164)	(36,665)
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price in dollars per share				$ 13.95	$ 9.69	$ 7.92
Cancelled, Options				(364,887)	(285,234)	(33,878)
Cancelled, Weighted Average Exercise Price in dollars per share				$ 34.07	$ 45.80	$ 20.25
Options outstanding at end of year, Options				12,731,545	12,635,644	11,735,042
Options outstanding at end of year, Weighted Average Exercise Price in dollars per share				$ 18.95	$ 19.39	$ 20.45
Options exercisable at end of year, Options				10,506,810	10,389,722	10,103,739
Options exercisable at end of period, Weighted Average Exercise Price in dollars per share				$ 19.70	$ 20.35	$ 21.32
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant				7,034,523	1,554,195	3,514,077
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
Stock option transactions
Employee stock options/other, Shares				0
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				809,860	820,209	628,209	385,049
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				369,281	192,000	243,160
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 16.21	$ 14.92	$ 14.62	$ 13.81	$ 14.92	$ 14.62
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period				(374,630)	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value				$ 10.21	$ 0	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period				(5,000)	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value				$ 16.21	$ 0	$ 0
Weighted average per share grant date fair value in dollars per share				$ 17.19	$ 15.52	$ 15.70	$ 16.39

Employee Benefit and Stock Pl84

Employee Benefit and Stock Plans (Details 1)	12 Months Ended
	Nov. 30, 2016$ / sharesshares
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 | shares	12,731,545
Options Outstanding, Weighted Average Exercise Price in dollars per share	$ 18.95
Options Outstanding, Weighted Average Remaining Contractual Life	4 years 4 months 15 days
Options Exercisable, Options | shares	10,506,810
Options Exercisable, Weighted Average Exercise Price in dollars per share	$ 19.70
Options Exercisable, Weighted Average Remaining Contractual Life	3 years 6 months 1 day
$ 6.32 to $11.06
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 | shares	2,771,667
Options Outstanding, Weighted Average Exercise Price in dollars per share	$ 8.33
Options Outstanding, Weighted Average Remaining Contractual Life	4 years 3 months 1 day
Options Exercisable, Options | shares	2,771,667
Options Exercisable, Weighted Average Exercise Price in dollars per share	$ 8.33
$11.07 to $14.95
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 | shares	2,595,011
Options Outstanding, Weighted Average Exercise Price in dollars per share	$ 14.60
Options Outstanding, Weighted Average Remaining Contractual Life	8 years 1 month 1 day
Options Exercisable, Options | shares	1,370,933
Options Exercisable, Weighted Average Exercise Price in dollars per share	$ 14.41
$14.96 to $16.69
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	$ 16.69
Options Outstanding, Options | shares	2,668,775
Options Outstanding, Weighted Average Exercise Price in dollars per share	$ 15.94
Options Outstanding, Weighted Average Remaining Contractual Life	6 years 2 months 1 day
Options Exercisable, Options | shares	1,668,118
Options Exercisable, Weighted Average Exercise Price in dollars per share	$ 15.78
$16.70 to $28.10
Stock options outstanding and stock options exercisable
Range of Exercise Price in dollars per share, Minimum	16.70
Range of Exercise Price in dollars per share, Maximum	$ 28.10
Options Outstanding, Options | shares	2,609,550
Options Outstanding, Weighted Average Exercise Price in dollars per share	$ 23.24
Options Outstanding, Weighted Average Remaining Contractual Life	1 year 2 months 1 day
Options Exercisable, Options | shares	2,609,550
Options Exercisable, Weighted Average Exercise Price in dollars per share	$ 23.24
$28.11 to $69.63
Stock options outstanding and stock options exercisable
Range of Exercise Price in dollars per share, Minimum	28.11
Range of Exercise Price in dollars per share, Maximum	$ 69.63
Options Outstanding, Options | shares	2,086,542
Options Outstanding, Weighted Average Exercise Price in dollars per share	$ 36.97
Options Outstanding, Weighted Average Remaining Contractual Life	1 year 11 months 1 day
Options Exercisable, Options | shares	2,086,542
Options Exercisable, Weighted Average Exercise Price in dollars per share	$ 36.97

Employee Benefit and Stock Pl85

Employee Benefit and Stock Plans (Details 2)	12 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Assumptions of Black-Scholes option-pricing model
Risk-free interest rate	1.30%	1.40%	1.60%
Expected volatility factor	41.30%	43.60%	41.00%
Expected dividend yield	0.60%	0.70%	0.70%
Expected term	5 years	5 years	5 years

Employee Benefit and Stock Pl86

Employee Benefit and Stock Plans (Details 3) - USD ($) $ / shares in Units, $ in Thousands		Oct. 06, 2016	Oct. 08, 2015	Oct. 09, 2014	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to stock option grants					$ 16,850	$ 17,143	$ 8,382
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period					551,898	76,164	36,665
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to stock option grants	[1]				$ 7,076	$ 7,576	$ 3,024
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to stock option grants					$ 2,630	$ 2,499	$ 1,750
Restricted stock transactions
Outstanding at beginning of year, Shares					416,977	355,294	219,628
Weighted average per share grant date fair value in dollars per share					$ 16.24	$ 15.88	$ 15.81	$ 16.23
Granted, Shares					453,703	285,006	219,835
Granted, Weighted Average per Share Grant Date Fair Value					$ 15.73	$ 15.19	$ 15.34
Vested, Shares					(252,854)	(204,663)	(73,908)
Vested, Weighted Average per Share Grant Date Fair Value					$ 14.78	$ 14.83	$ 16.52
Cancelled, Shares					(13,207)	(18,660)	(10,261)
Cancelled, Weighted Average per Share Grant Date Fair Value					$ 15.12	$ 15.45	$ 18.55
Outstanding at end of year, Shares					604,619	416,977	355,294
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to stock option grants					$ 5,343	$ 5,404	$ 3,699
Restricted stock transactions
Outstanding at beginning of year, Shares					820,209	628,209	385,049
Weighted average per share grant date fair value in dollars per share					$ 17.19	$ 15.52	$ 15.70	$ 16.39
Granted, Shares					369,281	192,000	243,160
Granted, Weighted Average per Share Grant Date Fair Value		$ 16.21	$ 14.92	$ 14.62	$ 13.81	$ 14.92	$ 14.62
Vested, Shares					(374,630)	0	0
Vested, Weighted Average per Share Grant Date Fair Value					$ 10.21	$ 0	$ 0
Cancelled, Shares					(5,000)	0	0
Cancelled, Weighted Average per Share Grant Date Fair Value					$ 16.21	$ 0	$ 0
Outstanding at end of year, Shares					809,860	820,209	628,209
Director Stock Units [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense related to stock option grants					$ 1,801	$ 1,664	$ (91)
PSU 2013 [Domain] | Performance Shares
Restricted stock transactions
Granted, Shares					147,581
[1]	Compensation expense associated with stock options was accelerated in 2015 as a result of retirement provisions being met for certain stock option recipients.

Employee Benefit and Stock Pl87

Employee Benefit and Stock Plans (Details Textual)	Oct. 06, 2016$ / shares	Oct. 08, 2015$ / shares	Oct. 09, 2014$ / shares	Nov. 30, 2016USD ($)$ / sharesshares	Nov. 30, 2015USD ($)$ / sharesshares	Nov. 30, 2014USD ($)$ / sharesshares	Apr. 07, 2016shares	Apr. 03, 2014shares	Nov. 30, 2013shares
Employee Benefit and Stock Plans (Textual) [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures				1,012,686	1,262,000	1,273,647
Employee Benefit and Stock Plan (Additional Textual) [Abstract]
Exercises in period, total intrinsic value | $				$ 1,400,000	$ 400,000	$ 300,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period				551,898	76,164	36,665
Intrinsic value of stock options outstanding | $				$ 24,500,000	$ 16,400,000	$ 35,800,000
Intrinsic value of stock options exercisable | $				$ 23,300,000	$ 16,400,000	$ 31,700,000
Weighted average fair value of stock options granted | $ / shares				$ 5.82	$ 5.49	$ 5.07
Tax shortfall from cancellation of stock awards | $				$ 2,200,000	$ 1,700,000	$ 1,200,000
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities | $				$ 186,000	$ 157,000	$ 0
Shares of common stock held in trust				9,431,756	10,135,461
Share Based payments award terms of Award				5 years	5 years	5 years
Stock Appreciation Rights (SARs) [Member]
Employee Benefit and Stock Plans (Textual) [Abstract]
Minimum period of restriction imposed on share grant lapse				3 years
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number				29,939
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date				Jul. 31, 2017
Employee Benefit and Stock Plan (Additional Textual) [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number					29,939	29,939
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 | $				$ 4,400,000
Restricted Stock
Employee Benefit and Stock Plans (Textual) [Abstract]
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				$ 15.73	$ 15.19	$ 15.34
Total unrecognized stock-based compensation expense related to unvested stock option awards | $				$ 7,600,000
Employee Benefit and Stock Plan (Additional Textual) [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number				604,619	416,977	355,294			219,628
Performance Shares
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
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 16.21	$ 14.92	$ 14.62	$ 13.81	$ 14.92	$ 14.62
Total unrecognized stock-based compensation expense related to unvested stock option awards | $				$ 11,300,000
Employee Benefit and Stock Plan (Additional Textual) [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number				809,860	820,209	628,209			385,049
Director Plan SARs [Domain]
Employee Benefit and Stock Plans (Textual) [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number				452,983
Employee Benefit and Stock Plan (Additional Textual) [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number					452,983	452,983
Non-Employee Director Deferred Common Stock [Domain]
Employee Benefit and Stock Plans (Textual) [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number				485,632	419,962	358,404
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				12,300,000			7,500,000	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
Performance Based Incentive Plan for Senior Management [Member]
Employee Benefit and Stock Plan (Additional Textual) [Abstract]
Share Based payments award terms of Award				15 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
Saving Plan
Employee Benefit and Stock Plans (Textual) [Abstract]
Aggregate cost related to saving plan | $				$ 5,300,000	$ 4,600,000	$ 3,800,000
Net assets invested in funds consisting common stock				5.00%	5.00%	6.00%
Director Plan SARs [Domain]
Employee Benefit and Stock Plan (Additional Textual) [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period				0
Share Based payments award terms of Award				15 years

Postretirement Benefits (Detail

Postretirement Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Postretirement Benefits Additional (Textual) [Abstract]
Interest cost	$ 2,285	$ 2,270	$ 2,456
Amortization of prior service cost	1,556	1,556	1,556
Service cost	1,045	1,142	1,184
Amortization of net actuarial loss	79	848	357
Total	4,965	5,816	5,553
Liabilities related to postretirement benefit plan	$ 62,200	$ 60,800
Discounted rate for benefit plan	3.60%	3.60%
Defined Benefit Plan Disclosure [Line Items]
Cash surrender value of insurance contracts	$ 70,829	$ 67,786
2,014	1,800
2,015	2,000
2,016	2,500
2,017	2,800
Defined Benefit Plan, Expected Future Benefit Payments, Year Five	3,500
2018 - 2022	19,700
Supplemental Nonqualified Unfunded Retirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Period Increase (Decrease)	400	(1,300)	1,800
Benefits paid	1,400	1,400	1,200
Cash surrender value of insurance contracts	44,400	45,500
Unfunded Death Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Period Increase (Decrease)	200	(300)	$ 700
Cash surrender value of insurance contracts	$ 17,000	$ 16,800

Supplemental Disclosure to Co89

Supplemental Disclosure to Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Summary of cash and cash equivalents at the end of the period:
Cash and cash equivalents	$ 593,000	$ 560,341	$ 358,768	$ 532,523
Interest paid, net of amounts capitalized	1,134	22,486	13,037
Income taxes paid	3,307	3,612	1,619
Income taxes refunded	550	11	1,728
Supplemental disclosures of noncash activities:
Increase (decrease) in consolidated inventories not owned	(59,413)	106,807	(5,755)
Noncash or Part Noncash Acquisition, Inventory Acquired	99,108	20,291	61,553
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Incremental Compensation Cost	0	0	6,455
Homebuilding [Member]
Summary of cash and cash equivalents at the end of the period:
Cash and cash equivalents	592,086	559,042	356,366
Financial services [Member]
Summary of cash and cash equivalents at the end of the period:
Cash and cash equivalents	914	1,299	2,402
Inspirada Builders LLC [Member]
Supplemental disclosures of noncash activities:
Increase in Inventories Due to Distribution of Land From Equity Method Investments	4,277	12,705	90,115
Increase in Inventory and Inventory-Related Obligations Associated with TIFE	0	0	33,197
Water Intrusion [Member]
Summary of cash and cash equivalents at the end of the period:
Loss Contingency, Receivable	$ 2,151	$ 7,238	$ 18,110

Supplemental Guarantor Inform90

Supplemental Guarantor Information (Narrative) (Details)	12 Months Ended
	Nov. 30, 2016
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 Inform91

Supplemental Guarantor Information (Condensed Consolidating Statements of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended									12 Months Ended
	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2015	Aug. 31, 2015	May 31, 2015	Feb. 28, 2015	Nov. 30, 2014	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Condensed Consolidated Statements of Operations
Revenues	$ 1,191,942	$ 913,283	$ 811,050	$ 678,371	$ 985,783	$ 843,157	$ 622,969	$ 580,121		$ 3,594,646	$ 3,032,030	$ 2,400,949
Homebuilding:
Revenues										3,582,943	3,020,987	2,389,643
Construction and land costs										(3,041,101)	(2,539,368)	(1,985,651)
Selling, general and administrative expenses										(389,441)	(342,998)	(288,023)
Operating income										152,401	138,621	115,969
Interest income										529	458	443
Interest Expense										(5,900)	(21,856)	(30,750)
Intercompany Interest Income (Expense)										0	0	0
Equity in income (loss) of unconsolidated joint ventures										(5,601)	2,488	1,427
Pretax income (loss)	55,028	53,463	24,797	16,027	69,917	33,954	12,673	10,499		149,315	127,043	94,949
Income tax benefit (expense)									$ 824,200	(43,700)	(42,400)	823,400
Income (Loss) from Subsidiaries, Net of Tax										0	0	0
Net income	$ 37,528	$ 39,363	$ 15,597	$ 13,127	$ 44,017	$ 23,254	$ 9,573	$ 7,799		105,615	84,643	918,349
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										(91,859)	(86,053)	(68,717)
Operating income										(91,859)	(86,053)	(68,717)
Interest income										470	451	432
Interest Expense										(177,329)	(180,701)	(165,485)
Intercompany Interest Income (Expense)										301,432	289,727	287,017
Equity in income (loss) of unconsolidated joint ventures										0	0
Pretax income (loss)										32,714	23,424	53,247
Income tax benefit (expense)										17,200	2,000	215,691
Income (Loss) from Subsidiaries, Net of Tax										55,701	59,219	649,411
Net income										105,615	84,643	918,349
Guarantor Subsidiaries
Condensed Consolidated Statements of Operations
Revenues										3,169,545	2,640,678	2,017,170
Homebuilding:
Revenues										3,169,545	2,640,678	2,017,170
Construction and land costs										(2,661,888)	(2,196,228)	(1,658,925)
Selling, general and administrative expenses										(251,384)	(213,292)	(176,795)
Operating income										256,273	231,158	181,450
Interest income										55	6	9
Interest Expense										(3,958)	(6,184)	(6,056)
Intercompany Interest Income (Expense)										(107,388)	(101,540)	(118,901)
Equity in income (loss) of unconsolidated joint ventures										(2,179)	(1,803)
Pretax income (loss)										142,803	121,637	53,953
Income tax benefit (expense)										(52,700)	(46,700)	507,997
Income (Loss) from Subsidiaries, Net of Tax										0	0	0
Net income										90,103	74,937	561,950
Non-Guarantor Subsidiaries
Condensed Consolidated Statements of Operations
Revenues										425,101	391,352	383,779
Homebuilding:
Revenues										413,398	380,309	372,473
Construction and land costs										(379,213)	(343,140)	(326,726)
Selling, general and administrative expenses										(46,198)	(43,653)	(42,511)
Operating income										(12,013)	(6,484)	3,236
Interest income										4	1	2
Interest Expense										3,946	0	0
Intercompany Interest Income (Expense)										(14,711)	(23,158)	(27,325)
Equity in income (loss) of unconsolidated joint ventures										(2)	(1)
Pretax income (loss)										(26,202)	(18,018)	(12,251)
Income tax benefit (expense)										(8,200)	2,300	99,712
Income (Loss) from Subsidiaries, Net of Tax										0	0	0
Net income										(34,402)	(15,718)	87,461
Homebuilding [Member]
Condensed Consolidated Statements of Operations
Revenues										3,582,943	3,020,987	2,389,643
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures										(2,181)	(1,804)	741
Pretax income (loss)										144,849	115,419	86,403
Homebuilding [Member] | KB Home Corporate
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures												0
Pretax income (loss)										32,714	23,424	53,247
Homebuilding [Member] | Guarantor Subsidiaries
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures												(2,549)
Pretax income (loss)										142,803	121,637	53,953
Homebuilding [Member] | Non-Guarantor Subsidiaries
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures												3,290
Pretax income (loss)										(30,668)	(29,642)	(20,797)
Financial services [Member]
Homebuilding:
Operating income										7,886	7,332	7,860
Equity in income (loss) of unconsolidated joint ventures										(3,420)	4,292	686
Pretax income (loss)										4,466	11,624	8,546
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)										4,466	11,624	8,546
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										0	0	0
Interest income										0	0	0
Interest Expense										179,333	165,029	140,791
Intercompany Interest Income (Expense)										(179,333)	(165,029)	(140,791)
Equity in income (loss) of unconsolidated joint ventures										0	0
Pretax income (loss)										0	0	0
Income tax benefit (expense)										0	0	0
Income (Loss) from Subsidiaries, Net of Tax										(55,701)	(59,219)	(649,411)
Net income										(55,701)	(59,219)	(649,411)
Consolidating Adjustments | Homebuilding [Member]
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures												0
Pretax income (loss)										0	0	0
Consolidating Adjustments | Financial services [Member]
Homebuilding:
Pretax income (loss)										$ 0	$ 0	$ 0

Supplemental Guarantor Inform92

Supplemental Guarantor Information (Condensed Consolidating Statements of Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2015	Aug. 31, 2015	May 31, 2015	Feb. 28, 2015	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Net income	$ 37,528	$ 39,363	$ 15,597	$ 13,127	$ 44,017	$ 23,254	$ 9,573	$ 7,799	$ 105,615	$ 84,643	$ 918,349
Other Comprehensive Income (Loss), before Reclassifications, before Tax									2,103	6,149	(1,888)
Other Comprehensive Income (Loss), before Tax									2,103	6,149	(1,888)
Income tax expense related to items of other comprehensive income									(841)	(2,460)	(1,604)
Other comprehensive income (loss), net of tax									1,262	3,689	(3,492)
Comprehensive income									106,877	88,332	914,857
KB Home Corporate
Net income									105,615	84,643	918,349
Other Comprehensive Income (Loss), before Reclassifications, before Tax									2,103	6,149	(1,888)
Other Comprehensive Income (Loss), before Tax									2,103	6,149	(1,888)
Income tax expense related to items of other comprehensive income									(841)	(2,460)	(1,604)
Other comprehensive income (loss), net of tax									1,262	3,689	(3,492)
Comprehensive income									106,877	88,332	914,857
Guarantor Subsidiaries
Net income									90,103	74,937	561,950
Other Comprehensive Income (Loss), before Reclassifications, before Tax									0	0	0
Other Comprehensive Income (Loss), before Tax									0	0	0
Income tax expense related to items of other comprehensive income									0	0	0
Other comprehensive income (loss), net of tax									0	0	0
Comprehensive income									90,103	74,937	561,950
Non-Guarantor Subsidiaries
Net income									(34,402)	(15,718)	87,461
Other Comprehensive Income (Loss), before Reclassifications, before Tax									0	0	0
Other Comprehensive Income (Loss), before Tax									0	0	0
Income tax expense related to items of other comprehensive income									0	0	0
Other comprehensive income (loss), net of tax									0	0	0
Comprehensive income									(34,402)	(15,718)	87,461
Consolidating Adjustments
Net income									(55,701)	(59,219)	(649,411)
Other Comprehensive Income (Loss), before Reclassifications, before Tax									0	0	0
Other Comprehensive Income (Loss), before Tax									0	0	0
Income tax expense related to items of other comprehensive income									0	0	0
Other comprehensive income (loss), net of tax									0	0	0
Comprehensive income									$ (55,701)	$ (59,219)	$ (649,411)

Supplemental Guarantor Inform93

Supplemental Guarantor Information (Condensed Consolidating Balance Sheets) (Details) - USD ($) $ in Thousands	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014	Nov. 30, 2013
Assets
Cash and cash equivalents	$ 593,000	$ 560,341	$ 358,768	$ 532,523
Restricted cash	0	9,344
Receivables	231,665	247,998
Inventory, Operative Builders	3,403,228	3,313,747
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	64,016	71,558
Deferred tax assets, net	738,985	782,196
Other assets	91,145	88,992
Investments in subsidiaries	0	0
Total assets	5,131,624	5,086,905
Due from Affiliates	0	0
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities	766,327	792,500
Notes payable	2,640,149	2,601,754
Financial services	2,003	1,817
Due to Affiliate	0	0
Stockholder's equity	1,723,145	1,690,834	1,595,910	536,086
Total liabilities and Stockholders' equity	5,131,624	5,086,905
KB Home Corporate
Assets
Cash and cash equivalents	463,100	444,850	303,280	476,847
Restricted cash	0	9,344
Receivables	4,807	39
Inventory, Operative Builders	0	0
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	0	0
Deferred tax assets, net	276,737	190,770
Other assets	79,526	73,808
Investments in subsidiaries	35,965	39,383
Total assets	4,419,147	4,385,344
Due from Affiliates	3,559,012	3,627,150
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities	131,530	136,352
Notes payable	2,548,112	2,540,980
Financial services	0	0
Due to Affiliate	16,360	17,178
Stockholder's equity	1,723,145	1,690,834
Total liabilities and Stockholders' equity	4,419,147	4,385,344
Guarantor Subsidiaries
Assets
Cash and cash equivalents	100,439	96,741	36,412	37,330
Restricted cash	0	0
Receivables	135,915	145,022
Inventory, Operative Builders	3,048,132	2,900,202
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	61,517	69,057
Deferred tax assets, net	318,077	465,105
Other assets	9,177	11,198
Investments in subsidiaries	0	0
Total assets	3,673,257	3,687,325
Due from Affiliates	0	0
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities	397,605	417,315
Notes payable	66,927	35,664
Financial services	0	0
Due to Affiliate	3,208,725	3,234,346
Stockholder's equity	0	0
Total liabilities and Stockholders' equity	3,673,257	3,687,325
Non-Guarantor Subsidiaries
Assets
Cash and cash equivalents	29,461	18,750	19,076	18,346
Restricted cash	0	0
Receivables	90,943	102,937
Inventory, Operative Builders	355,096	413,545
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	2,499	2,501
Deferred tax assets, net	144,171	126,321
Other assets	2,442	3,986
Investments in subsidiaries	0	0
Total assets	731,259	782,872
Due from Affiliates	97,062	102,103
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities	237,192	238,833
Notes payable	25,110	25,110
Financial services	2,003	1,817
Due to Affiliate	430,989	477,729
Stockholder's equity	35,965	39,383
Total liabilities and Stockholders' equity	731,259	782,872
Homebuilding [Member]
Assets
Cash and cash equivalents	592,086	559,042	356,366
Total assets	5,121,125	5,072,877
Liabilities and stockholders' equity
Total Homebuilding	3,406,476	3,394,254
Homebuilding [Member] | KB Home Corporate
Assets
Cash and cash equivalents	463,100	444,850
Total assets	824,170	718,811
Liabilities and stockholders' equity
Total Homebuilding	2,679,642	2,677,332
Homebuilding [Member] | Guarantor Subsidiaries
Assets
Cash and cash equivalents	100,439	96,741
Total assets	3,673,257	3,687,325
Liabilities and stockholders' equity
Total Homebuilding	464,532	452,979
Homebuilding [Member] | Non-Guarantor Subsidiaries
Assets
Cash and cash equivalents	28,547	17,451
Total assets	623,698	666,741
Liabilities and stockholders' equity
Total Homebuilding	262,302	263,943
Financial services [Member]
Assets
Cash and cash equivalents	914	1,299	2,402
Receivables	1,764	2,245
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	7,771	10,440
Other assets	50	44
Total assets	10,499	14,028
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities	2,003	1,817
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	10,499	14,028
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	(35,965)	(39,383)
Total assets	(3,692,039)	(3,768,636)
Due from Affiliates	(3,656,074)	(3,729,253)
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities	0	0
Notes payable	0	0
Financial services	0	0
Due to Affiliate	(3,656,074)	(3,729,253)
Stockholder's equity	(35,965)	(39,383)
Total liabilities and Stockholders' equity	(3,692,039)	(3,768,636)
Consolidating Adjustments | Homebuilding [Member]
Assets
Cash and cash equivalents	0	0
Total assets	0	0
Liabilities and stockholders' equity
Total Homebuilding	0	0
Consolidating Adjustments | Financial services [Member]
Assets
Total assets	$ 0	$ 0

Supplemental Guarantor Inform94

Supplemental Guarantor Information (Condensed Consolidated Statements of Cash Flows) (Details) - USD ($)	12 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Condensed Consolidated Statements of Cash Flows
Net cash provided by (used in) operating activities	$ 188,655,000	$ 181,185,000	$ (630,691,000)
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	(5,602,000)	(20,626,000)	(49,097,000)
Proceeds from sale of investment in unconsolidated joint venture	0	0	10,110,000
Return of investments in unconsolidated joint ventures	4,307,000	14,000,000	0
Purchases of property and equipment, net	(4,784,000)	(4,677,000)	(5,795,000)
Intercompany	0	0	0
Net cash used in investing activities	(6,079,000)	(11,303,000)	(44,782,000)
Cash flows from financing activities:
Change in restricted cash	9,344,000	17,891,000	14,671,000
Proceeds from issuance of debt	0	250,000,000	400,000,000
Payment of debt issuance costs	0	(4,561,000)	(5,448,000)
Repayment of senior notes	0	(199,906,000)	0
Payments on mortgages and land contracts due to land sellers and other loans	(67,845,000)	(22,877,000)	(36,918,000)
Proceeds from issuance of common stock, net	0	0	137,045,000
Issuance of common stock under employee stock plans	5,343,000	740,000	1,896,000
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities	186,000	157,000	0
Payments of cash dividends	(8,586,000)	(9,186,000)	(8,982,000)
Stock repurchases	(88,359,000)	(567,000)	(546,000)
Intercompany	0	0	0
Net cash provided by (used in) financing activities	(149,917,000)	31,691,000	501,718,000
Net increase (decrease) in cash and cash equivalents	32,659,000	201,573,000	(173,755,000)
Cash and cash equivalents at beginning of year	560,341,000	358,768,000	532,523,000
Cash and cash equivalents at end of year	593,000,000	560,341,000	358,768,000
KB Home Corporate
Condensed Consolidated Statements of Cash Flows
Net cash provided by (used in) operating activities	(40,277,000)	44,422,000	82,629,000
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	0	0	0
Proceeds from sale of investment in unconsolidated joint venture			0
Return of investments in unconsolidated joint ventures	0	0
Purchases of property and equipment, net	(4,052,000)	(2,890,000)	(208,000)
Intercompany	144,651,000	45,470,000	(794,624,000)
Net cash used in investing activities	140,599,000	42,580,000	(794,832,000)
Cash flows from financing activities:
Change in restricted cash	9,344,000	17,891,000	14,671,000
Proceeds from issuance of debt		250,000,000	400,000,000
Payment of debt issuance costs		(4,561,000)	(5,448,000)
Repayment of senior notes		(199,906,000)
Payments on mortgages and land contracts due to land sellers and other loans	0	0	0
Proceeds from issuance of common stock, net			137,045,000
Issuance of common stock under employee stock plans	5,343,000	740,000	1,896,000
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities	186,000	157,000
Payments of cash dividends	(8,586,000)	(9,186,000)	(8,982,000)
Stock repurchases	(88,359,000)	(567,000)	(546,000)
Intercompany	0	0	0
Net cash provided by (used in) financing activities	(82,072,000)	54,568,000	538,636,000
Net increase (decrease) in cash and cash equivalents	18,250,000	141,570,000	(173,567,000)
Cash and cash equivalents at beginning of year	444,850,000	303,280,000	476,847,000
Cash and cash equivalents at end of year	463,100,000	444,850,000	303,280,000
Guarantor Subsidiaries
Condensed Consolidated Statements of Cash Flows
Net cash provided by (used in) operating activities	188,372,000	110,688,000	(641,728,000)
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	(4,852,000)	(20,625,000)	(48,846,000)
Proceeds from sale of investment in unconsolidated joint venture			0
Return of investments in unconsolidated joint ventures	4,307,000	14,000,000
Purchases of property and equipment, net	(555,000)	(1,271,000)	(4,145,000)
Intercompany	0	0	0
Net cash used in investing activities	(1,100,000)	(7,896,000)	(52,991,000)
Cash flows from financing activities:
Change in restricted cash	0	0	0
Proceeds from issuance of debt		0	0
Payment of debt issuance costs		0	0
Repayment of senior notes		0
Payments on mortgages and land contracts due to land sellers and other loans	(67,845,000)	(22,877,000)	(36,918,000)
Proceeds from issuance of common stock, net			0
Issuance of common stock under employee stock plans	0	0	0
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities	0	0
Payments of cash dividends	0	0	0
Stock repurchases	0	0	0
Intercompany	(115,729,000)	(19,586,000)	730,719,000
Net cash provided by (used in) financing activities	(183,574,000)	(42,463,000)	693,801,000
Net increase (decrease) in cash and cash equivalents	3,698,000	60,329,000	(918,000)
Cash and cash equivalents at beginning of year	96,741,000	36,412,000	37,330,000
Cash and cash equivalents at end of year	100,439,000	96,741,000	36,412,000
Non-Guarantor Subsidiaries
Condensed Consolidated Statements of Cash Flows
Net cash provided by (used in) operating activities	40,560,000	26,075,000	(71,592,000)
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	(750,000)	(1,000)	(251,000)
Proceeds from sale of investment in unconsolidated joint venture			10,110,000
Return of investments in unconsolidated joint ventures	0	0
Purchases of property and equipment, net	(177,000)	(516,000)	(1,442,000)
Intercompany	0	0	0
Net cash used in investing activities	(927,000)	(517,000)	8,417,000
Cash flows from financing activities:
Change in restricted cash	0	0	0
Proceeds from issuance of debt		0	0
Payment of debt issuance costs		0	0
Repayment of senior notes		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
Issuance of common stock under employee stock plans	0	0	0
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities	0	0
Payments of cash dividends	0	0	0
Stock repurchases	0	0	0
Intercompany	(28,922,000)	(25,884,000)	63,905,000
Net cash provided by (used in) financing activities	(28,922,000)	(25,884,000)	63,905,000
Net increase (decrease) in cash and cash equivalents	10,711,000	(326,000)	730,000
Cash and cash equivalents at beginning of year	18,750,000	19,076,000	18,346,000
Cash and cash equivalents at end of year	29,461,000	18,750,000	19,076,000
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
Proceeds from sale of investment in unconsolidated joint venture			0
Return of investments in unconsolidated joint ventures	0	0
Purchases of property and equipment, net	0	0	0
Intercompany	(144,651,000)	(45,470,000)	794,624,000
Net cash used in investing activities	(144,651,000)	(45,470,000)	794,624,000
Cash flows from financing activities:
Change in restricted cash	0	0	0
Proceeds from issuance of debt		0	0
Payment of debt issuance costs		0	0
Repayment of senior notes		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
Issuance of common stock under employee stock plans	0	0	0
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities	0	0
Payments of cash dividends	0	0	0
Stock repurchases	0	0	0
Intercompany	144,651,000	45,470,000	(794,624,000)
Net cash provided by (used in) financing activities	144,651,000	45,470,000	(794,624,000)
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)95

Quarterly Results (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended								12 Months Ended
		Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Feb. 29, 2016	Nov. 30, 2015	Aug. 31, 2015	May 31, 2015	Feb. 28, 2015	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Loss Contingencies [Line Items]
Product Warranty Accrual, Preexisting, Increase (Decrease)	[1]									$ (652)	$ (7,238)	$ (17,471)
Valuation Allowance, Deferred Tax Asset, Change in Amount										(13,000)	(3,400)
Revenues		$ 1,191,942	$ 913,283	$ 811,050	$ 678,371	$ 985,783	$ 843,157	$ 622,969	$ 580,121	3,594,646	3,032,030	2,400,949
Gross profits		167,667	151,902	121,465	108,694	171,482	133,099	97,631	86,739
Inventory Impairments and Land Option Contract Abandonments		36,054	3,052	11,740	1,966	5,075	3,532	536	448	52,812	9,591	39,431
Pretax income (loss)		55,028	53,463	24,797	16,027	69,917	33,954	12,673	10,499	149,315	127,043	94,949
Net income		$ 37,528	$ 39,363	$ 15,597	$ 13,127	$ 44,017	$ 23,254	$ 9,573	$ 7,799	$ 105,615	$ 84,643	$ 918,349
Earnings per share: Diluted (usd per share)		$ 0.40	$ 0.42	$ 0.17	$ 0.14	$ 0.43	$ 0.23	$ 0.10	$ 0.08	$ 1.12	$ 0.85	$ 9.25
Earnings per share: Basic (usd per share)		$ 0.44	$ 0.46	$ 0.18	$ 0.15	$ 0.48	$ 0.25	$ 0.10	$ 0.08	$ 1.23	$ 0.92	$ 10.26
Land Option Contract Abandonment [Member]
Loss Contingencies [Line Items]
Loss on Contract Termination										$ 3,232	$ 1,561	$ 1,803
Southeast [Member] | Land Option Contract Abandonment [Member]
Loss Contingencies [Line Items]
Loss on Contract Termination										1,750	$ 984	$ 254
Metro Washington, D.C. [Member] | Southeast [Member] | Land Option Contract Abandonment [Member]
Loss Contingencies [Line Items]
Loss on Contract Termination										$ 1,400
[1]	Adjustments for 2016, 2015 and 2014 included the reclassification of certain estimated minimum probable recoveries to receivables in connection with the above-noted water intrusion-related issues. Adjustments in 2014 also included the reclassification of estimated minimum probable recoveries to establish a separate accrual for a water intrusion-related inquiry, as described below. The adjustments for each year had no impact on our consolidated statements of operations. There were no estimated minimum probable recoveries netted against our warranty liability at November 30, 2016.

Subsequent Event (Details)

Subsequent Event (Details) - USD ($) $ in Thousands	Jan. 13, 2017	Feb. 28, 2017	Dec. 14, 2016	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2014
Subsequent Event [Line Items]
Notes and Loans Payable				$ 2,640,149	$ 2,601,754
Senior Notes Due Two Thousand Seventeen at Nine Point One Percent [Member] | Senior Notes [Member]
Subsequent Event [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				9.10%	9.10%	9.10%
Notes and Loans Payable				$ 263,932	$ 262,570
Senior Notes Due Two Thousand Seventeen at Nine Point One Percent [Member] | Senior Notes [Member] | Scenario, Forecast [Member]
Subsequent Event [Line Items]
Deposits Assets		$ 5,400
Senior Notes Due Two Thousand Seventeen at Nine Point One Percent [Member] | Senior Notes [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			9.10%
Extinguishment of Debt, Amount	$ 100,000
Notes and Loans Payable	$ 165,000