KB Home (KBH) 10-Q 5 Oct 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Aug. 31, 2017shares
Document and Entity Information [Abstract]
Entity Registrant Name	KB HOME
Trading Symbol	KBH
Entity Central Index Key	795,266
Document Type	10-Q
Document Period End Date	Aug. 31, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--11-30
Entity Filer Category	Large Accelerated Filer
Entity Common Stock Shares Outstanding	86,500,307

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016
Total revenues		$ 1,144,001	$ 913,283	$ 2,965,391	$ 2,402,704
Homebuilding:
Revenues		1,140,787	910,111	2,957,105	2,394,315
Construction and land costs		(955,001)	(760,490)	(2,499,677)	(2,018,022)
Selling, general and administrative expenses		(109,095)	(98,144)	(305,901)	(279,886)
Operating income		76,691	51,477	151,527	96,407
Interest income		347	109	747	395
Interest expense	[1]	0	0	(6,307)	(5,667)
Equity in income (loss) of unconsolidated joint ventures				921	(2,616)
Total pretax income (loss)		79,208	53,463	152,649	94,287
Financial services:
Revenues		3,214	3,172	8,286	8,389
Expenses		(890)	(891)	(2,525)	(2,621)
Income tax expense	[2]	(29,000)	(14,100)	(56,400)	(26,200)
Net income		$ 50,208	$ 39,363	$ 96,249	$ 68,087
Earnings Per Share, Basic (in dollars per share)		$ 0.58	$ 0.46	$ 1.12	$ 0.79
Earnings Per Share, Diluted (in dollars per share)		$ 0.51	$ 0.42	$ 1	$ 0.72
Weighted average shares outstanding — basic (in shares)		85,974	84,457	85,517	85,952
Weighted average shares outstanding — diluted (in shares)		98,912	95,203	97,624	96,437
Cash dividends declared per common share (in dollars per share)		$ 0.0250	$ 0.0250	$ 0.075	$ 0.075
Homebuilding [Member]
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures		$ (814)	$ (536)	$ (679)	$ (1,964)
Total pretax income (loss)		76,224	51,050	145,288	89,171
Financial services [Member]
Homebuilding:
Operating income		2,324	2,281	5,761	5,768
Equity in income (loss) of unconsolidated joint ventures		660	132	1,600	(652)
Total pretax income (loss)		$ 2,984	$ 2,413	$ 7,361	$ 5,116
[1]	Interest incurred and interest expensed for the nine months ended August 31, 2017 included a charge of $5.7 million for the early extinguishment of debt
[2]	(a) Amounts reflect the favorable net impact of federal energy tax credits we earned from building energy-efficient homes through December 31, 2016. The net impact of these tax credits was $2.6 million and $6.7 million for the three months ended August 31, 2017 and 2016, respectively, and $3.8 million and $10.4 million for the nine months ended August 31, 2017 and 2016, respectively.

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Aug. 31, 2017	Nov. 30, 2016
Assets
Cash and cash equivalents		$ 494,807	$ 593,000
Receivables		229,033	231,665
Inventories		3,513,794	3,403,228
Investments in unconsolidated joint ventures		64,513	64,016
Deferred tax assets, net		683,085	738,985
Other assets		102,394	91,145
Total assets		5,099,559	5,131,624
Liabilities and stockholders' equity
Accounts payable		189,535	215,331
Accrued expenses and other liabilities		565,168	550,996
Mortgages and notes payable		2,502,379	2,640,149
Financial services		1,535	2,003
Common stock		117,498	116,224
Paid-in capital		722,536	696,938
Retained earnings		1,653,512	1,563,742
Accumulated other comprehensive loss		(16,057)	(16,057)
Grantor stock ownership trust, at cost		(99,279)	(102,300)
Treasury stock, at cost		(537,268)	(535,402)
Total stockholders’ equity		1,840,942	1,723,145
Total liabilities and stockholders’ equity		5,099,559	5,131,624
Homebuilding [Member]
Assets
Cash and cash equivalents		494,053	592,086
Total assets		5,086,872	5,121,125
Liabilities and stockholders' equity
Total Liabilities Homebuilding		3,257,082	3,406,476
Financial services [Member]
Assets
Cash and cash equivalents		754	914
Receivables		2,224	1,764
Investments in unconsolidated joint ventures	[1]	9,631	7,771
Other assets		78	50
Total assets		$ 12,687	$ 10,499
[1]	Our investments in unconsolidated joint ventures as of August 31, 2017 included a $5.3 million capital contribution we made to KBHS in the 2017 first quarter, and a $5.0 million distribution we received from HCM in the 2017 second quarter.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Aug. 31, 2017	Aug. 31, 2016
Cash flows from operating activities:
Net income	$ 96,249	$ 68,087
Adjustments to reconcile net income to net cash used in operating activities:
Equity in (income) loss of unconsolidated joint ventures	(921)	2,616
Amortization of discounts and issuance costs	5,006	5,668
Depreciation and amortization	2,151	2,763
Deferred income taxes	55,900	25,600
Loss on early extinguishment of debt	5,685	0
Stock-based compensation	9,893	10,180
Inventory impairments and land option contract abandonments	18,122	16,758
Changes in assets and liabilities:
Receivables	2,172	10,384
Inventories	(95,850)	(265,529)
Accounts payable, accrued expenses and other liabilities	9,926	24,761
Other, net	(5,063)	(3,900)
Net cash provided by (used in) operating activities	103,270	(102,612)
Cash flows from investing activities:
Contributions to unconsolidated joint ventures	(15,154)	(1,000)
Proceeds from Equity Method Investment, Distribution, Return of Capital	8,159	3,495
Purchases of property and equipment, net	(6,643)	(2,680)
Net cash used in investing activities	(13,638)	(185)
Cash flows from financing activities:
Change in restricted cash	0	8,742
Repayment of senior notes	(105,326)	0
Payments of Debt Issuance Costs	(1,711)	0
Payments on mortgages and land contracts due to land sellers and other loans	(92,443)	(41,913)
Issuance of common stock under employee stock plans	20,677	7,351
Payments of cash dividends	(6,479)	(6,471)
Stock repurchases	(2,543)	(87,531)
Net cash used in financing activities	(187,825)	(119,822)
Net decrease in cash and cash equivalents	(98,193)	(222,619)
Cash and cash equivalents at beginning of period	593,000	560,341
Cash and cash equivalents at end of period	$ 494,807	$ 337,722

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Aug. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies Basis of Presentation. The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with GAAP have been condensed or omitted. In our opinion, the accompanying unaudited consolidated financial statements contain all adjustments (consisting only of normal recurring accruals) necessary to present fairly our consolidated financial position as of August 31, 2017 , the results of our consolidated operations for the three months and nine months ended August 31, 2017 and 2016, and our consolidated cash flows for the nine months ended August 31, 2017 and 2016. The results of our consolidated operations for the three months and nine months ended August 31, 2017 are not necessarily indicative of the results to be expected for the full year due to seasonal variations in operating results and other factors. The consolidated balance sheet at November 30, 2016 has been taken from the audited consolidated financial statements as of that date. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended November 30, 2016 , which are contained in our Annual Report on Form 10-K for that period. Unless the context indicates otherwise, the terms “we,” “our,” and “us” used in this report refer to KB Home, a Delaware corporation, and its subsidiaries. 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. 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 $306.1 million at August 31, 2017 and $396.1 million at November 30, 2016 . The majority of our cash and cash equivalents was invested in interest-bearing bank deposit accounts. Comprehensive Income. Our comprehensive income was $50.2 million for the three months ended August 31, 2017 and $39.4 million for the three months ended August 31, 2016 . For the nine months ended August 31, 2017 and 2016, our comprehensive income was $96.2 million and $68.1 million , respectively. Our comprehensive income for each of the three-month and nine-month periods ended August 31, 2017 and 2016 was equal to our net income for the respective periods. 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 and 2017, the FASB issued accounting standards updates that amended several aspects of ASU 2014-09. ASU 2014-09, as amended, is effective for us for annual and interim periods 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 expect to adopt ASU 2014-09 under the modified retrospective method in our 2019 first quarter. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements and disclosures, 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. We are also continuing to evaluate the impact adopting this guidance may have on other aspects of our business. 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 lease 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) and 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 after 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. Reclassifications. Certain amounts in our consolidated financial statements for prior years have been reclassified to conform to the current period presentation.

Segment Information

Segment Information	9 Months Ended
	Aug. 31, 2017
Segment Reporting [Abstract]
Segment Information	Segment Information We have identified five operating reporting segments, comprised of four homebuilding reporting segments and one financial services reporting segment. As of August 31, 2017 , 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. Our financial services reporting segment offers property and casualty insurance and, in certain instances, earthquake, flood and personal property insurance to our homebuyers in the same markets as our homebuilding reporting segments, and provides title services in the majority of our markets located within our Central and Southeast homebuilding reporting segments. This segment earns revenues primarily from insurance commissions and from the provision of title services. Until October 2016, we provided mortgage banking services, including residential mortgage loan (“mortgage loan”) originations, to our homebuyers indirectly through Home Community Mortgage, LLC (“HCM”), a joint venture of a subsidiary of ours and a subsidiary of Nationstar Mortgage LLC (“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, LLC (“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 KBHS Home Loans, LLC (“KBHS”), an unconsolidated mortgage banking joint venture to offer mortgage banking services, including mortgage loan originations, to our homebuyers. We and Stearns Lending each have a 50.0% ownership interest in KBHS, with Stearns Lending providing management oversight of KBHS’ operations. KBHS was operational in all of our served markets as of June 2017. 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. 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): Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Revenues: West Coast $ 609,598 $ 414,150 $ 1,426,030 $ 1,029,269 Southwest 132,307 106,187 376,132 318,190 Central 291,006 265,524 826,008 707,917 Southeast 107,876 124,250 328,935 338,939 Total $ 1,140,787 $ 910,111 $ 2,957,105 $ 2,394,315 Pretax income (loss): West Coast $ 58,922 $ 36,912 $ 118,271 $ 78,647 Southwest 11,648 8,592 30,269 31,229 Central 28,921 27,601 75,584 61,515 Southeast 1,129 2,329 (605 ) (11,825 ) Corporate and other (24,396 ) (24,384 ) (78,231 ) (70,395 ) Total $ 76,224 $ 51,050 $ 145,288 $ 89,171 Inventory impairment charges: West Coast $ 4,992 $ 2,579 $ 8,136 $ 7,153 Southwest 2,102 — 3,445 — Central — — — 787 Southeast — — 3,032 5,915 Total $ 7,094 $ 2,579 $ 14,613 $ 13,855 Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Land option contract abandonments: West Coast $ 903 $ 270 $ 2,738 $ 691 Southwest — 142 — 253 Central — — 518 460 Southeast 116 61 253 1,499 Total $ 1,019 $ 473 $ 3,509 $ 2,903 August 31, November 30, Inventories: Homes under construction West Coast $ 852,965 $ 695,742 Southwest 170,805 130,886 Central 368,112 297,290 Southeast 109,595 122,020 Subtotal 1,501,477 1,245,938 Land under development West Coast 698,736 820,088 Southwest 280,754 268,507 Central 432,448 456,508 Southeast 172,540 182,554 Subtotal 1,584,478 1,727,657 Land held for future development or sale West Coast 222,327 210,910 Southwest 111,220 122,927 Central 14,496 15,439 Southeast 79,796 80,357 Subtotal 427,839 429,633 Total $ 3,513,794 $ 3,403,228 Assets: West Coast $ 1,920,337 $ 1,847,279 Southwest 598,085 564,636 Central 934,610 909,497 Southeast 369,484 414,730 Corporate and other 1,264,356 1,384,983 Total $ 5,086,872 $ 5,121,125

Financial Services

Financial Services	9 Months Ended
	Aug. 31, 2017
Segment Reporting [Abstract]
Financial Services	Financial Services The following tables present financial information relating to our financial services reporting segment (in thousands): Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Revenues Insurance commissions $ 1,897 $ 1,897 $ 4,515 $ 4,844 Title services 1,317 1,275 3,766 3,545 Interest income — — 5 — Total 3,214 3,172 8,286 8,389 Expenses General and administrative (890 ) (891 ) (2,525 ) (2,621 ) Operating income 2,324 2,281 5,761 5,768 Equity in income (loss) of unconsolidated joint ventures 660 132 1,600 (652 ) Pretax income $ 2,984 $ 2,413 $ 7,361 $ 5,116 August 31, November 30, Assets Cash and cash equivalents $ 754 $ 914 Receivables 2,224 1,764 Investments in unconsolidated joint ventures (a) 9,631 7,771 Other assets 78 50 Total assets $ 12,687 $ 10,499 Liabilities Accounts payable and accrued expenses $ 1,535 $ 2,003 Total liabilities $ 1,535 $ 2,003 (a) Our investments in unconsolidated joint ventures as of August 31, 2017 included a $5.3 million capital contribution we made to KBHS in the 2017 first quarter, and a $5.0 million distribution we received from HCM in the 2017 second quarter.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Aug. 31, 2017
Earnings Per Share, Basic and Diluted [Abstract]
Earnings Per Share	Earnings Per Share Basic and diluted earnings per share were calculated as follows (in thousands, except per share amounts): Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Numerator: Net income $ 50,208 $ 39,363 $ 96,249 $ 68,087 Less: Distributed earnings allocated to nonvested restricted stock (14 ) (10 ) (43 ) (31 ) Less: Undistributed earnings allocated to nonvested restricted stock (307 ) (180 ) (602 ) (296 ) Numerator for basic earnings per share 49,887 39,173 95,604 67,760 Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Effect of dilutive securities: Interest expense and amortization of debt issuance costs associated with convertible senior notes, net of taxes 664 667 1,990 2,000 Add: Undistributed earnings allocated to nonvested restricted stock 307 180 602 296 Less: Undistributed earnings reallocated to nonvested restricted stock (267 ) (161 ) (528 ) (264 ) Numerator for diluted earnings per share $ 50,591 $ 39,859 $ 97,668 $ 69,792 Denominator: Weighted average shares outstanding — basic 85,974 84,457 85,517 85,952 Effect of dilutive securities: Share-based payments 4,536 2,344 3,705 2,083 Convertible senior notes 8,402 8,402 8,402 8,402 Weighted average shares outstanding — diluted 98,912 95,203 97,624 96,437 Basic earnings per share $ .58 $ .46 $ 1.12 $ .79 Diluted earnings per share $ .51 $ .42 $ 1.00 $ .72 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 August 31, 2017 or August 31, 2016 . Outstanding options to purchase 2.5 million shares of our common stock were excluded from the diluted earnings per share calculations for the three-month and nine-month periods ended August 31, 2017 , and outstanding options to purchase 6.6 million shares of our common stock were excluded from the diluted earnings per share calculations for the three-month and nine-month periods ended August 31, 2016 because the effect of their inclusion in each case would be antidilutive. Contingently issuable shares associated with outstanding performance-based restricted stock units (each, a “PSU”) were not included in the basic earnings per share calculations for the periods presented, as the applicable vesting conditions had not been satisfied.

Receivables (Notes)

Receivables (Notes)	9 Months Ended
	Aug. 31, 2017
Receivables [Abstract]
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]	Receivables Receivables consisted of the following (in thousands): August 31, November 30, Due from utility companies, improvement districts and municipalities $ 111,267 $ 102,780 Recoveries related to self-insurance claims 75,018 84,476 Refundable deposits and bonds 14,211 13,665 Recoveries related to warranty and other claims 5,202 14,609 Other 36,102 28,745 Subtotal 241,800 244,275 Allowance for doubtful accounts (12,767 ) (12,610 ) Total $ 229,033 $ 231,665

Inventories

Inventories	9 Months Ended
	Aug. 31, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following (in thousands): August 31, November 30, Homes under construction $ 1,501,477 $ 1,245,938 Land under development 1,584,478 1,727,657 Land held for future development or sale (a) 427,839 429,633 Total $ 3,513,794 $ 3,403,228 (a) Land held for sale totaled $56.1 million at August 31, 2017 and $63.4 million at November 30, 2016 . 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). Interest and real estate taxes are not capitalized on land held for future development or sale. Our interest costs were as follows (in thousands): Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Capitalized interest at beginning of period $ 303,984 $ 309,045 $ 306,723 $ 288,442 Interest incurred (a) 43,434 46,485 136,857 138,994 Interest expensed (a) — — (6,307 ) (5,667 ) Interest amortized to construction and land costs (b) (55,204 ) (40,424 ) (145,059 ) (106,663 ) Capitalized interest at end of period (c) $ 292,214 $ 315,106 $ 292,214 $ 315,106 (a) Interest incurred and interest expensed for the nine months ended August 31, 2017 included a charge of $5.7 million for the early extinguishment of debt. (b) Interest amortized to construction and land costs for the three months ended August 31, 2017 included $.2 million related to land sales during the period. We had no land sale activity for the three months ended August 31, 2016 . Interest amortized to construction and land costs for the nine months ended August 31, 2017 and 2016 included $1.8 million and $.5 million , respectively, related to land sales during those periods. (c) Capitalized interest amounts presented in the table reflect the gross amount of capitalized interest, as inventory impairment charges recognized, if any, are not generally allocated to specific components of inventory.

Inventory Impairments and Land

Inventory Impairments and Land Option Contract Abandonments	9 Months Ended
	Aug. 31, 2017
Inventory Impairments and Land Option Contract Abandonments [Abstract]
Inventory Impairments and Land Option Contract Abandonments	Inventory Impairments and Land Option Contract Abandonments Each community or land parcel in our owned inventory is assessed on a quarterly basis to determine if indicators of potential impairment exist. We record an inventory impairment charge on a community or land parcel that is active or held for future development when indicators of potential impairment exist and the carrying value of the real estate asset is greater than the undiscounted future net cash flows the asset is expected to generate. These real estate assets are written down to fair value, which is primarily determined based on the estimated future net cash flows discounted for inherent risk associated with each such asset, or other valuation techniques. 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. We evaluated 49 and 43 communities or land parcels for recoverability during the nine months ended August 31, 2017 and 2016, respectively. The carrying value of the communities or land parcels evaluated during the nine months ended August 31, 2017 and 2016 was $436.7 million and $350.0 million , respectively. Some of the communities or land parcels evaluated during the nine months ended August 31, 2017 and 2016 were evaluated in more than one quarterly period. Communities or land parcels evaluated for recoverability in more than one quarterly period were counted only once for each nine-month period. The communities or land parcels evaluated during the nine months ended August 31, 2017 included certain communities or land parcels previously held for future development that were reactivated during 2016 or 2017 as part of our efforts to improve our asset efficiency under our returns-focused growth plan. Based on the results of our evaluations, we recognized inventory impairment charges of $7.1 million for the three months ended August 31, 2017 and $14.6 million for the nine months ended August 31, 2017 . For the three months and nine months ended August 31, 2016 , we recognized inventory impairment charges of $2.6 million and $13.9 million , respectively. The inventory impairment charges for the three months and nine months ended August 31, 2017 and 2016 reflected our decisions to make changes in our operational strategies aimed at more quickly monetizing our investment in those communities or land parcels. The inventory impairment charges for the three months and nine months ended August 31, 2017 included one community in California where we decided to accelerate the overall pace for selling and delivering homes, primarily through lowering selling prices. In addition, the inventory impairment charges for these three-month and nine-month periods included two communities and six communities, respectively, where we decided to accelerate the overall pace for selling, building and delivering homes on land previously held for future development. The inventory impairment charges for the three months and nine months ended August 31, 2016 included two communities in California where we decided to accelerate the overall pace for selling, building and delivering homes, primarily through lowering selling prices. The inventory impairment charges for the nine months ended August 31, 2016 also included $5.4 million associated with the sales of two land parcels in the Metro Washington, D.C. market as part of the wind down of our operations in that market, and $5.2 million associated with one community in California and one in Florida where we decided to accelerate the overall timing for selling, building and delivering homes on land that was previously held for future development. The charges for the nine months ended August 31, 2016 also reflected the sales of our last remaining land parcels in the Rio Grande Valley area of Texas, which closed in the 2016 second quarter. The following table summarizes ranges for significant quantitative unobservable inputs we utilized in our fair value measurements with respect to the impaired communities written down to fair value during the periods presented: Three Months Ended August 31, Nine Months Ended August 31, Unobservable Input (a) 2017 2016 2017 2016 Average selling price $207,100 - $1,576,500 $351,600 - $486,000 $207,100 - $1,576,500 $280,100 - $486,000 Deliveries per month 2 - 4 2 - 3 2 - 4 1 - 4 Discount rate 17% - 18% 17% 17% - 18% 17% - 20% (a) The ranges of inputs used in each period primarily reflect differences between the housing markets where each impacted community is located, rather than fluctuations in prevailing market conditions. As of August 31, 2017 , the aggregate carrying value of our inventory that had been impacted by inventory impairment charges was $209.1 million , representing 26 communities and various other land parcels. 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. Our inventory controlled under land option contracts and other similar contracts is assessed on a quarterly basis to determine whether it continues to meet our investment return standards. When a decision is made not to exercise certain land option contracts and other similar contracts due to market conditions and/or changes in our marketing strategy, we write off the related inventory costs, including non-refundable deposits and unrecoverable pre-acquisition costs. Based on the results of our assessments, we recognized land option contract abandonment charges of $1.0 million corresponding to 119 lots for the three months ended August 31, 2017 , and $3.5 million of such charges corresponding to 639 lots for the nine months ended August 31, 2017 . We recognized land option contract abandonment charges of $.5 million corresponding to 50 lots for the three months ended August 31, 2016 , and $2.9 million of such charges corresponding to 542 lots for the nine months ended August 31, 2016 . Of the land option contract abandonment charges recognized for the three months and nine months ended August 31, 2016, $1.4 million related to the wind down of our Metro Washington, D.C. operations. Due to the judgment and assumptions applied in our inventory impairment and land option contract abandonment assessment processes, particularly as to land held for future development or sale, it is possible that actual results could differ substantially from those estimated.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Aug. 31, 2017
Variable Interest Entities [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 variable interest entity (“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 analyses, we determined that one of our joint ventures at August 31, 2017 and November 30, 2016 was a VIE, but we were not the primary beneficiary of the VIE. All of our joint ventures at August 31, 2017 and November 30, 2016 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. 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 under the variable interest model 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. As a result of our analyses, we determined that as of August 31, 2017 and November 30, 2016 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): August 31, 2017 November 30, 2016 Cash Deposits Aggregate Purchase Price Cash Deposits Aggregate Purchase Price Unconsolidated VIEs $ 18,318 $ 607,813 $ 24,910 $ 641,642 Other land option contracts and other similar contracts 20,815 372,371 17,919 431,954 Total $ 39,133 $ 980,184 $ 42,829 $ 1,073,596 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 $28.0 million at August 31, 2017 and $56.0 million at November 30, 2016 . 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 in our consolidated balance sheets with a corresponding financing obligation if we determine that we are effectively compelled to exercise the option to purchase the land parcel(s). In making this determination with respect to a land option contract or other similar 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 $28.5 million at August 31, 2017 and $50.5 million at November 30, 2016 .

Investments in Unconsolidated J

Investments in Unconsolidated Joint Ventures	9 Months Ended
	Aug. 31, 2017
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. 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): Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Revenues $ 12,802 $ 19,338 $ 39,604 $ 41,190 Construction and land costs (12,832 ) (19,383 ) (37,625 ) (45,379 ) Other expense, net (1,294 ) (1,008 ) (3,547 ) (3,599 ) Loss $ (1,324 ) $ (1,053 ) $ (1,568 ) $ (7,788 ) The year-over-year decreases in combined revenues and construction and land costs for three months and nine months ended August 31, 2017 primarily reflected decreased land sale activity from unconsolidated joint ventures in California. The following table presents combined condensed balance sheet information for our unconsolidated joint ventures (in thousands): August 31, November 30, Assets Cash $ 21,372 $ 31,928 Receivables 797 882 Inventories 145,299 165,385 Other assets 2,270 629 Total assets $ 169,738 $ 198,824 Liabilities and equity Accounts payable and other liabilities $ 19,174 $ 19,880 Notes payable (a) 25,618 44,381 Equity 124,946 134,563 Total liabilities and equity $ 169,738 $ 198,824 (a) Two of our unconsolidated joint ventures have separate construction loan agreements with different third-party lenders to finance their respective land development activities. The outstanding debt under these agreements is secured by the corresponding underlying property and related project assets and is non-recourse to us. Of this outstanding secured debt at August 31, 2017, $24.8 million is scheduled to mature in August 2018 and the remainder is scheduled to mature in February 2020. At November 30, 2016, only one of these unconsolidated joint ventures had outstanding secured debt. None of our other unconsolidated joint ventures had any outstanding debt at August 31, 2017 or November 30, 2016 . The following table presents additional information relating to our investments in unconsolidated joint ventures (dollars in thousands): August 31, November 30, Number of investments in unconsolidated joint ventures 7 7 Investments in unconsolidated joint ventures $ 64,513 $ 64,016 Number of unconsolidated joint venture lots controlled under land option contracts and other similar contracts 388 471 We and our partners in the unconsolidated joint ventures that have the above-noted construction loan agreements provide certain guarantees and indemnities to the applicable lender, including a guaranty to complete the construction of improvements for the applicable 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; an indemnity of the lender from environmental issues; and in one case, a guaranty of interest payments on the outstanding balance of the secured debt under the construction loan agreement. In each instance, 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 outstanding secured debt of these unconsolidated joint ventures. 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 an applicable lender to seek to enforce such guaranty and indemnity obligations, if and as may be applicable. As of August 31, 2017 , we were in compliance with the applicable terms of our relevant covenants with respect to the construction loan agreements. We do not believe that our existing exposure under our guaranty and indemnity obligations related to the outstanding secured debt of these unconsolidated joint ventures is material to our consolidated financial statements. Of the unconsolidated joint venture lots controlled under land option and other similar contracts at August 31, 2017 , we are committed to purchase 90 lots from one of our unconsolidated joint ventures in quarterly takedowns over the next three years for an aggregate purchase price of approximately $39.9 million under agreements that we entered into with the unconsolidated joint venture in 2016.

Other Assets

Other Assets	9 Months Ended
	Aug. 31, 2017
Other Assets [Abstract]
Other Assets	Other Assets Other assets consisted of the following (in thousands): August 31, November 30, Cash surrender value of corporate-owned life insurance contracts $ 73,983 $ 70,829 Property and equipment, net 18,718 14,240 Prepaid expenses 7,150 4,894 Debt issuance costs associated with unsecured revolving credit facility 2,543 1,182 Total $ 102,394 $ 91,145

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	9 Months Ended
	Aug. 31, 2017
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): August 31, November 30, Self-insurance and other litigation liabilities $ 202,690 $ 170,988 Employee compensation and related benefits 128,838 130,352 Accrued interest payable 79,459 67,411 Warranty liability 63,811 56,682 Inventory-related obligations (a) 54,681 82,682 Customer deposits 19,511 18,175 Real estate and business taxes 14,622 14,370 Other 1,556 10,336 Total $ 565,168 $ 550,996 (a) Represents liabilities for financing arrangements discussed in Note 8 – Variable Interest Entities, as well as liabilities for fixed or determinable amounts associated with tax increment financing entity (“TIFE”) assessments. As homes are delivered, our 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	9 Months Ended
	Aug. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income Tax Expense. Our income tax expense and effective income tax rates were as follows (dollars in thousands): Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Income tax expense (a) $ 29,000 $ 14,100 $ 56,400 $ 26,200 Effective income tax rate (a) 36.6 % 26.4 % 36.9 % 27.8 % (a) Amounts reflect the favorable net impact of federal energy tax credits we earned from building energy-efficient homes through December 31, 2016. The net impact of these tax credits was $2.6 million and $6.7 million for the three months ended August 31, 2017 and 2016, respectively, and $3.8 million and $10.4 million for the nine months ended August 31, 2017 and 2016, respectively. There has not been any new legislation enacted extending the business tax credit for building energy-efficient homes beyond December 31, 2016. Deferred Tax Asset Valuation Allowance. We evaluate our deferred tax assets quarterly to determine if adjustments to our valuation allowance are required based on the consideration of all available positive and negative evidence using a “more likely than not” standard with respect to whether deferred tax assets will be realized. Our evaluation considers, among other factors, our historical operating results, our expectation of future profitability, the duration of the applicable statutory carryforward periods, and conditions in the housing market and the broader economy. The ultimate realization of our deferred tax assets depends primarily on our ability to generate future taxable income during the periods in which the related temporary differences in the financial basis and the tax basis of the assets become deductible. The value of our deferred tax assets depends on applicable income tax rates. Our deferred tax assets of $707.7 million as of August 31, 2017 and $763.8 million as of November 30, 2016 were partly offset by valuation allowances of $24.6 million and $24.8 million , respectively. The deferred tax asset valuation allowances as of August 31, 2017 and November 30, 2016 were primarily related to certain state net operating losses (“NOLs”) that had not met the “more likely than not” realization standard at those dates. In the three months ended August 31, 2017, we reversed $.2 million of our deferred tax asset valuation allowance due to the utilization of additional state NOLs recognized with the filing of our 2016 state tax returns. Based on our evaluation of our deferred tax assets as of August 31, 2017 , we determined that most of our deferred tax assets would be realized. Therefore, no other adjustments to our deferred tax valuation allowance were needed for the nine months ended August 31, 2017 . 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 our actual tax expense, the realization of our deferred tax assets over time and/or the value of our deferred tax assets on our consolidated balance sheets. Unrecognized Tax Benefits. At both August 31, 2017 and November 30, 2016 , our gross unrecognized tax benefits (including interest and penalties) totaled $.1 million , all of which, if recognized, would affect our effective income tax rate. 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. Our fiscal years ending 2014 and later remain open to federal examinations, while fiscal years 2012 and later remain open to state examinations.

Notes Payable

Notes Payable	9 Months Ended
	Aug. 31, 2017
Debt Disclosure [Abstract]
Notes Payable	Notes Payable Notes payable consisted of the following (in thousands): August 31, November 30, Mortgages and land contracts due to land sellers and other loans $ 24,142 $ 66,927 9.10% Senior notes due September 15, 2017 164,963 263,932 7 1/4% Senior notes due June 15, 2018 299,811 299,647 4.75% Senior notes due May 15, 2019 398,134 397,364 8.00% Senior notes due March 15, 2020 345,869 344,811 7.00% Senior notes due December 15, 2021 446,429 445,911 7.50% Senior notes due September 15, 2022 347,116 346,774 7.625% Senior notes due May 15, 2023 247,643 247,404 1.375% Convertible senior notes due February 1, 2019 228,272 227,379 Total $ 2,502,379 $ 2,640,149 The carrying amounts of our senior notes listed above are net of debt issuance costs and discounts, which totaled $16.8 million at August 31, 2017 and $21.8 million at November 30, 2016 . Unsecured Revolving Credit Facility. On July 27, 2017, we entered into a second amended and restated revolving loan agreement with a syndicate of financial institutions that increased the commitment under our unsecured revolving credit facility from $275.0 million to $500.0 million and extended its maturity from August 7, 2019 to July 27, 2021 (“Amended Credit Facility”). The Amended Credit Facility contains an uncommitted accordion feature under which the aggregate principal amount of available loans may be increased to a maximum of $600.0 million under certain conditions, including obtaining additional bank commitments. The Amended Credit Facility also contains a sublimit of $250.0 million for the issuance of letters of credit, which may be utilized in combination with, or to replace, our cash-collateralized letter of credit facility with a financial institution (“LOC Facility”). Interest on amounts borrowed under the Amended 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 consolidated leverage ratio (“Leverage Ratio”), as defined under the Amended Credit Facility. The Amended Credit Facility also requires the payment of a commitment fee at a per annum rate ranging from .30% to .45% of the unused commitment, based on our Leverage Ratio. Under the terms of the Amended Credit Facility, we are required, among other things, to maintain compliance with various covenants, including financial covenants relating to our consolidated tangible net worth, Leverage Ratio, and either a consolidated interest coverage ratio (“Interest Coverage Ratio”) or minimum level of liquidity, each as defined therein. The amount of the Amended 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 Amended Credit Facility and the maximum available amount under the terms of the Amended Credit Facility. As of August 31, 2017 , we had no cash borrowings and $33.0 million of letters of credit outstanding under the Amended Credit Facility. Therefore, as of August 31, 2017 , we had $467.0 million available for cash borrowings under the Amended Credit Facility, with up to $217.0 million of that amount available for the issuance of letters of credit. LOC Facility. We maintain the LOC Facility to obtain letters of credit from time to time in the ordinary course of operating our business. As of August 31, 2017 and November 30, 2016 , we had no letters of credit outstanding under the LOC Facility. Mortgages and Land Contracts Due to Land Sellers and Other Loans. As of August 31, 2017 , inventories having a carrying value of $73.5 million were pledged to collateralize mortgages and land contracts due to land sellers and other loans. Shelf Registration. On July 14, 2017, we filed an automatically effective universal shelf registration statement (“2017 Shelf Registration”) with the SEC. The 2017 Shelf Registration registers the offering of securities that we may issue from time to time in amounts to be determined. Issuances of securities under our 2017 Shelf Registration require the filing of a prospectus supplement identifying the amount and terms of the securities to be issued. Our ability to issue securities is subject to market conditions and other factors impacting our borrowing capacity. The 2017 Shelf Registration replaced our previously effective universal shelf registration statement filed with the SEC on July 18, 2014. We have not made any offerings of securities under the 2017 Shelf Registration. Senior Notes. All of the senior notes outstanding at August 31, 2017 and November 30, 2016 represent senior unsecured obligations and rank equally in right of payment with all of our existing and future indebtedness. Interest on each of these senior notes is payable semi-annually. 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 (“ 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, as described in the instruments governing these notes. On December 14, 2016, we elected to exercise our optional redemption rights under the terms of the 9.100% senior notes due 2017 (“ 9.10% Senior Notes due 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. We paid a total of $105.3 million to redeem the notes and recorded a charge of $5.7 million for the early extinguishment of debt. Upon this redemption, $165.0 million in aggregate principal amount of the notes remained outstanding. 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 August 31, 2017 , we were in compliance with the applicable terms of all our covenants and other requirements under the Amended 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 Amended 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. Principal payments on senior notes, mortgages and land contracts due to land sellers and other loans are due as follows: 2017 – $179.0 million ; 2018 – $310.1 million ; 2019 – $630.0 million ; 2020 – $350.0 million ; 2021 – $0 ; and thereafter – $1.05 billion .

Fair Value Disclosures

Fair Value Disclosures	9 Months Ended
	Aug. 31, 2017
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 for the nine months ended August 31, 2017 and the year ended November 30, 2016 (in thousands): Description Fair Value Hierarchy August 31, November 30, Inventories (a) Level 2 $ — $ 3,657 Inventories (a) Level 3 32,262 37,329 (a) Amounts represent the aggregate fair value for real estate assets impacted by inventory impairment charges during the applicable period as of the date 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 $46.9 million were written down to their fair value of $32.3 million during the nine months ended August 31, 2017 , resulting in inventory impairment charges of $14.6 million . 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 . 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 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): August 31, 2017 November 30, 2016 Fair Value Hierarchy Carrying Value (a) Estimated Fair Value Carrying Value (a) Estimated Fair Value Financial Liabilities: Senior notes Level 2 $ 2,249,965 $ 2,460,581 $ 2,345,843 $ 2,494,844 Convertible senior notes Level 2 228,272 237,475 227,379 223,675 (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, and mortgages and land contracts due to land sellers and other loans approximate fair values. The carrying value of corporate-owned life insurance is based on the cash surrender value of the policies and, accordingly, approximates fair value.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Aug. 31, 2017
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 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 were as follows (in thousands): Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Balance at beginning of period $ 60,037 $ 48,837 $ 56,682 $ 49,085 Warranties issued 10,041 8,006 25,965 19,573 Payments (6,267 ) (4,719 ) (18,836 ) (17,186 ) Adjustments — — — 652 Balance at end of period $ 63,811 $ 52,124 $ 63,811 $ 52,124 Guarantees. In the normal course of our business, we issue certain representations, warranties and guarantees related to our home sales 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. We 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 construction defect, bodily injury and property damage claims and related litigation or regulatory actions, up to certain limits. Our self-insurance liability generally covers our 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 without consideration of insurance recoveries and amounts we have paid on behalf of and expect to recover from other parties, if any. Estimated probable self-insurance recoveries of $75.0 million and $84.5 million are included in receivables in our consolidated balance sheets at August 31, 2017 and November 30, 2016 , respectively. These self-insurance recoveries 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 period to period. 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): Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Balance at beginning of period $ 156,505 $ 156,733 $ 158,584 $ 173,011 Self-insurance expense (a) 5,573 7,110 13,811 15,532 Payments (2,291 ) (4,517 ) (7,051 ) (19,952 ) Adjustments (b) 21,673 — 21,673 — Reclassification of estimated probable recoveries (c) (3,901 ) 5,518 (9,458 ) (3,747 ) Balance at end of period $ 177,559 $ 164,844 $ 177,559 $ 164,844 (a) These expenses are included in selling, general and administrative expenses and are largely offset by contributions from subcontractors participating in the wrap-up policy. (b) Amounts for the three months and nine months ended August 31, 2017 reflect a change in estimate to increase our self-insurance liability based on a review of actual claim resolution experience, which indicated a higher frequency of claims and, to a lesser extent, a higher claim severity than previously anticipated. Based on these higher historical claim frequency and severity trends, we determined in the 2017 third quarter that future payments for claims relating to homes delivered in certain prior years were likely to exceed the then-estimated liabilities remaining for those claims. Therefore, we recorded an adjustment to increase our self-insurance liability based on an actuarially determined estimate that we believe has a higher probability of being adequate to cover future payments associated with unresolved claims, including claims incurred but not yet reported. This adjustment is included in selling, general and administrative expenses. (c) Amount for each period represents the changes 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. 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 other claims totaled $5.2 million at August 31, 2017 and $14.6 million at November 30, 2016 . We believe collection of these receivables is probable based on our history of collections for similar claims. In the 2017 third quarter, we received insurance recoveries of $23.5 million , which exceeded the $11.6 million of estimated probable receivables we had previously recorded. The excess recoveries were included in selling, general and administrative expenses. Northern California Claims. In the 2017 third quarter, we received claims from a homeowners association alleging approximately $100.0 million of damages from purported construction defects at a completed townhome community in Northern California. We are investigating these allegations, and we currently expect it may take up to several quarters to fully evaluate them. At August 31, 2017, we had an accrual for our estimated probable loss in this matter. While it is reasonably possible that our loss could exceed the amount accrued, at this preliminary stage of our investigation into these allegations, we are unable to estimate the total amount of the loss in excess of the accrued amount that is reasonably possible. Our investigation will also involve identifying potentially responsible parties, including insurers, to pay for or perform any necessary repairs. 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 August 31, 2017 , we had $557.5 million of performance bonds and $33.0 million of letters of credit outstanding. At November 30, 2016 , we had $535.7 million of performance bonds and $31.0 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 obligations are 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 our business, we enter into land option contracts and other similar contracts to acquire rights to land for the construction of homes. At August 31, 2017 , we had total cash deposits of $39.1 million to purchase land having an aggregate purchase price of $980.2 million . Our land option contracts and other similar contracts generally do not contain provisions requiring our specific performance.

Legal Matters

Legal Matters	9 Months Ended
	Aug. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Legal Matters	16. Legal Matters Nevada Development Contract Litigation. In 2007, Las Vegas Development Associates, LLC (“LVDA”) agreed to purchase approximately 83 acres of land located near Las Vegas, Nevada from KB HOME Nevada Inc., a wholly owned subsidiary of ours (“KB 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. In 2008, LVDA and Essex filed a complaint in the Eighth Judicial District Court in Clark County, Nevada alleging that KB Nevada breached the development agreement, and 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, damages and interest. KB Nevada denied the allegations, and believed it had meritorious defenses to the consolidated plaintiffs’ claims. Following various Nevada state court decisions from 2013 to 2016 that significantly narrowed the consolidated plaintiffs’ claims and the scope of potential damages, effective March 3, 2017, KB Nevada, LVDA, Essex, the administrative agent for the LVDA/Essex lenders and a guarantor for the underlying LVDA/Essex loan reached a settlement. Under the settlement, the above-described litigation was dismissed with prejudice, with mutual releases by the parties of all claims related to the matter. As part of the settlement, KB Nevada agreed to purchase the land, if certain conditions are satisfied, on or before February 15, 2020 (subject to a potential extension of up to six months). If the conditions are not satisfied and KB Nevada does not purchase the land, it will make a specified cash payment pursuant to the settlement agreement that is not material to our consolidated financial statements. This settlement did not have an impact on our consolidated financial statements for the three-month or nine-month periods ended August 31, 2017 . 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 and California during the grading of a required secondary access road for a community located in San Diego County, California. The work was performed pursuant to a County-issued grading permit and in reliance on third-party experts. 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 staff in an effort to resolve the matters alleged in the NOV. An administrative hearing before the RWQCB was originally scheduled for August 10, 2016, but was continued pending ongoing discussions with the RWQCB staff. On May 26, 2017, we and the RWQCB staff reached a settlement regarding the matters alleged in the NOV, and agreed to a stipulated administrative order in lieu of formal administrative proceedings. On August 30, 2017, the RWQCB, through its authorized delegate, approved the stipulated administrative order. Under the stipulated administrative order, we agreed to pay a total of $.3 million and to enhance certain of our land development procedures. We are also seeking recovery of the costs associated with this matter from responsible parties. The stipulated administrative order did not have an impact on our consolidated financial statements for the three-month or nine-month periods ended August 31, 2017. 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 August 31, 2017 , it was not reasonably possible that an additional material loss had been incurred in an amount in excess of the estimated amounts already recognized in our consolidated financial statements. We evaluate our accruals for litigation and regulatory proceedings at least quarterly and, as appropriate, adjust them to reflect (a) the facts and circumstances known to us at the time, including information regarding negotiations, settlements, rulings and other relevant events and developments; (b) the advice and analyses of counsel; and (c) the assumptions and judgment of management. Similar factors and considerations are used in establishing new accruals for proceedings as to which losses have become probable and reasonably estimable at the time an evaluation is made. Based on our experience, we believe that the amounts that may be claimed or alleged against us in these proceedings are not a meaningful indicator of our potential liability. The outcome of any of these proceedings, including the defense and other litigation-related costs and expenses we may incur, however, is inherently uncertain and could differ significantly from the estimate reflected in a related accrual, if made. Therefore, it is possible that the ultimate outcome of any proceeding, if in excess of a related accrual or if an accrual had not been made, could be material to our consolidated financial statements.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Aug. 31, 2017
Equity [Abstract]
Stockholders’ Equity	Stockholders’ Equity A summary of changes in stockholders’ equity is presented below (in thousands): Nine Months Ended August 31, 2017 Number of Shares Common Stock Grantor Stock Ownership Trust Treasury Stock Common Stock Paid-in Capital Retained Earnings Accumulated Other Comprehensive Loss Grantor Stock Ownership Trust Treasury Stock Total Stockholders’ Equity Balance at November 30, 2016 116,224 (9,432 ) (21,720 ) $ 116,224 $ 696,938 $ 1,563,742 $ (16,057 ) $ (102,300 ) $ (535,402 ) $ 1,723,145 Net income — — — — — 96,249 — — — 96,249 Dividends on common stock — — — — — (6,479 ) — — — (6,479 ) Employee stock options/other 1,205 — — 1,205 19,472 — — — — 20,677 Stock awards 69 279 27 69 (3,767 ) — — 3,021 677 — Stock-based compensation — — — — 9,893 — — — — 9,893 Stock repurchases — — (152 ) — — — — — (2,543 ) (2,543 ) Balance at August 31, 2017 117,498 (9,153 ) (21,845 ) $ 117,498 $ 722,536 $ 1,653,512 $ (16,057 ) $ (99,279 ) $ (537,268 ) $ 1,840,942 We maintain an account with our transfer agent to reserve the maximum number of shares of our common stock potentially deliverable upon conversion to holders of the 1.375% Convertible Senior Notes due 2019 based on the terms of their governing instruments. Accordingly, the common stock reserve account had a balance of 12,602,735 shares at August 31, 2017 . The maximum number of shares would potentially be deliverable to holders only in certain limited circumstances as set forth in the governing instruments. On February 15, 2017, the management development and compensation committee of our board of directors approved the payout of PSUs that were granted to certain employees on October 10, 2013. The 278,460 shares of our common stock that were granted under the terms of PSUs that vested in 2017 included an aggregate of 125,460 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 public homebuilding companies over the three-year period from December 1, 2013 through November 30, 2016. As of August 31, 2017 , we were authorized to repurchase 1,627,000 shares of our common stock under a board approved share repurchase program. We did not repurchase any of our common stock under this program in the nine months ended August 31, 2017 . During the nine months ended August 31, 2017 , we repurchased 152,569 , or $2.5 million , of previously issued shares delivered to us by employees to satisfy withholding taxes on the vesting of restricted stock and PSU awards as well as shares forfeited by individuals upon their termination of employment. These transactions were not considered repurchases under the above-described board of directors authorization. During each of the three-month periods ended August 31, 2017 and 2016, our board of directors declared, and we paid, a quarterly cash dividend of $.025 per share of common stock. Quarterly cash dividends declared and paid during the nine months ended August 31, 2017 and 2016 totaled $.075 per share of common stock.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Aug. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock Options. We estimate the grant-date fair value of stock options using the Black-Scholes option-pricing model. The following table summarizes stock option transactions for the nine months ended August 31, 2017 : Options Weighted Average Exercise Price Options outstanding at beginning of period 12,731,545 $ 18.95 Granted — — Exercised (1,204,676 ) 17.17 Cancelled (945,742 ) 28.51 Options outstanding at end of period 10,581,127 $ 18.30 Options exercisable at end of period 8,556,885 $ 18.98 As of August 31, 2017 , the weighted average remaining contractual life of stock options outstanding and stock options exercisable was 4.1 years and 3.1 years , respectively. There was $1.4 million of total unrecognized compensation expense related to unvested stock option awards as of August 31, 2017 that is expected to be recognized over a weighted average period of 1.3 years . For the three months ended August 31, 2017 and 2016, stock-based compensation expense associated with stock options totaled $.6 million and $.9 million , respectively. For the nine-month periods ended August 31, 2017 and 2016, stock-based compensation expense associated with stock options totaled $1.7 million and $2.9 million , respectively. The aggregate intrinsic values of stock options outstanding and stock options exercisable were $63.5 million and $51.4 million , respectively, at August 31, 2017 . (The intrinsic value of a stock option is the amount by which the market value of a share of the underlying common stock exceeds the exercise price of the stock option.) Other Stock-Based Awards. From time to time, we grant restricted stock and PSUs to various employees as a compensation benefit. We recognized total compensation expense of $2.3 million and $1.8 million for the three months ended August 31, 2017 and 2016, respectively, related to restricted stock and PSUs. We recognized total compensation expense of $8.1 million and $7.3 million for the nine-month periods ended August 31, 2017 and 2016, respectively, related to restricted stock and PSUs. Director Awards. On April 13, 2017, we granted equity awards to our non-employee directors under our Non-Employee Directors Compensation Plan and pursuant to the respective elections each director made thereunder. The equity awards consisted of 22,994 shares of our common stock that were issued on an unrestricted basis to the respective directors on the grant date, and 43,499 shares that will be paid out on the earlier of a change in control or the date the respective directors leave our board.

Supplemental Disclosure to Cons

Supplemental Disclosure to Consolidated Statements of Cash Flows	9 Months Ended
	Aug. 31, 2017
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): Nine Months Ended August 31, 2017 2016 Summary of cash and cash equivalents at end of period: Homebuilding $ 494,053 $ 334,669 Financial services 754 3,053 Total $ 494,807 $ 337,722 Supplemental disclosures of cash flow information: Interest paid, net of amounts capitalized $ (17,111 ) $ (13,512 ) Income taxes paid 3,464 3,208 Supplemental disclosures of noncash activities: Reclassification of warranty recoveries to receivables $ — $ 2,151 Decrease in consolidated inventories not owned (22,018 ) (59,144 ) Increase in inventories due to distributions of land and land development from an unconsolidated joint venture 5,198 4,331 Inventories acquired through seller financing 49,658 89,968

Supplemental Guarantor Informat

Supplemental Guarantor Information	9 Months Ended
	Aug. 31, 2017
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 Amended 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 Amended 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 Amended 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 the relevant subsidiaries that were Guarantor Subsidiaries as of August 31, 2017 . Condensed Consolidating Statements of Operations (in thousands) Three Months Ended August 31, 2017 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Total revenues $ — $ 1,048,045 $ 95,956 $ — $ 1,144,001 Homebuilding: Revenues $ — $ 1,048,045 $ 92,742 $ — $ 1,140,787 Construction and land costs — (871,350 ) (83,651 ) — (955,001 ) Selling, general and administrative expenses (23,220 ) (72,686 ) (13,189 ) — (109,095 ) Operating income (loss) (23,220 ) 104,009 (4,098 ) — 76,691 Interest income 345 2 — — 347 Interest expense (41,746 ) (434 ) (1,254 ) 43,434 — Intercompany interest 77,367 (31,059 ) (2,874 ) (43,434 ) — Equity in loss of unconsolidated joint ventures — (814 ) — — (814 ) Homebuilding pretax income (loss) 12,746 71,704 (8,226 ) — 76,224 Financial services pretax income — — 2,984 — 2,984 Total pretax income (loss) 12,746 71,704 (5,242 ) — 79,208 Income tax benefit (expense) (3,700 ) (26,200 ) 900 — (29,000 ) Equity in net income of subsidiaries 41,162 — — (41,162 ) — Net income (loss) $ 50,208 $ 45,504 $ (4,342 ) $ (41,162 ) $ 50,208 Three Months Ended August 31, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Total revenues $ — $ 801,832 $ 111,451 $ — $ 913,283 Homebuilding: Revenues $ — $ 801,832 $ 108,279 $ — $ 910,111 Construction and land costs — (664,224 ) (96,266 ) — (760,490 ) Selling, general and administrative expenses (23,436 ) (64,541 ) (10,167 ) — (98,144 ) Operating income (loss) (23,436 ) 73,067 1,846 — 51,477 Interest income 96 11 2 — 109 Interest expense (46,485 ) — — 46,485 — Intercompany interest 78,834 (27,997 ) (4,352 ) (46,485 ) — Equity in loss of unconsolidated joint ventures — (536 ) — — (536 ) Homebuilding pretax income (loss) 9,009 44,545 (2,504 ) — 51,050 Financial services pretax income — — 2,413 — 2,413 Total pretax income (loss) 9,009 44,545 (91 ) — 53,463 Income tax expense (1,600 ) (12,300 ) (200 ) — (14,100 ) Equity in net income of subsidiaries 31,954 — — (31,954 ) — Net income (loss) $ 39,363 $ 32,245 $ (291 ) $ (31,954 ) $ 39,363 Nine Months Ended August 31, 2017 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Total revenues $ — $ 2,671,533 $ 293,858 $ — $ 2,965,391 Homebuilding: Revenues $ — $ 2,671,533 $ 285,572 $ — $ 2,957,105 Construction and land costs — (2,240,974 ) (258,703 ) — (2,499,677 ) Selling, general and administrative expenses (68,809 ) (206,513 ) (30,579 ) — (305,901 ) Operating income (loss) (68,809 ) 224,046 (3,710 ) — 151,527 Interest income 740 5 2 — 747 Interest expense (131,788 ) (1,428 ) (3,641 ) 130,550 (6,307 ) Intercompany interest 226,470 (87,524 ) (8,396 ) (130,550 ) — Equity in loss of unconsolidated joint ventures — (678 ) (1 ) — (679 ) Homebuilding pretax income (loss) 26,613 134,421 (15,746 ) — 145,288 Financial services pretax income — — 7,361 — 7,361 Total pretax income (loss) 26,613 134,421 (8,385 ) — 152,649 Income tax benefit (expense) (4,900 ) (52,300 ) 800 — (56,400 ) Equity in net income of subsidiaries 74,536 — — (74,536 ) — Net income (loss) $ 96,249 $ 82,121 $ (7,585 ) $ (74,536 ) $ 96,249 Nine Months Ended August 31, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Total revenues $ — $ 2,103,943 $ 298,761 $ — $ 2,402,704 Homebuilding: Revenues $ — $ 2,103,943 $ 290,372 $ — $ 2,394,315 Construction and land costs — (1,751,995 ) (266,027 ) — (2,018,022 ) Selling, general and administrative expenses (66,752 ) (182,015 ) (31,119 ) — (279,886 ) Operating income (loss) (66,752 ) 169,933 (6,774 ) — 96,407 Interest income 336 53 6 — 395 Interest expense (135,192 ) (1,641 ) (2,161 ) 133,327 (5,667 ) Intercompany interest 228,596 (82,984 ) (12,285 ) (133,327 ) — Equity in loss of unconsolidated joint ventures — (1,961 ) (3 ) — (1,964 ) Homebuilding pretax income (loss) 26,988 83,400 (21,217 ) — 89,171 Financial services pretax income — — 5,116 — 5,116 Total pretax income (loss) 26,988 83,400 (16,101 ) — 94,287 Income tax benefit (expense) (3,700 ) (24,600 ) 2,100 — (26,200 ) Equity in net income of subsidiaries 44,799 — — (44,799 ) — Net income (loss) $ 68,087 $ 58,800 $ (14,001 ) $ (44,799 ) $ 68,087 Condensed Consolidating Balance Sheets (in thousands) August 31, 2017 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Homebuilding: Cash and cash equivalents $ 400,956 $ 82,622 $ 10,475 $ — $ 494,053 Receivables 4,939 144,447 79,647 — 229,033 Inventories — 3,167,657 346,137 — 3,513,794 Investments in unconsolidated joint ventures — 62,011 2,502 — 64,513 Deferred tax assets, net 271,967 265,640 145,478 — 683,085 Other assets 91,420 8,384 2,590 — 102,394 769,282 3,730,761 586,829 — 5,086,872 Financial services — — 12,687 — 12,687 Intercompany receivables 3,606,529 — 102,335 (3,708,864 ) — Investments in subsidiaries 108,984 — — (108,984 ) — Total assets $ 4,484,795 $ 3,730,761 $ 701,851 $ (3,817,848 ) $ 5,099,559 Liabilities and stockholders’ equity Homebuilding: Accounts payable, accrued expenses and other liabilities $ 169,661 $ 365,102 $ 219,940 $ — $ 754,703 Notes payable 2,453,127 23,222 26,030 — 2,502,379 2,622,788 388,324 245,970 — 3,257,082 Financial services — — 1,535 — 1,535 Intercompany payables 21,065 3,270,731 417,068 (3,708,864 ) — Stockholders’ equity 1,840,942 71,706 37,278 (108,984 ) 1,840,942 Total liabilities and stockholders’ equity $ 4,484,795 $ 3,730,761 $ 701,851 $ (3,817,848 ) $ 5,099,559 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 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 Condensed Consolidating Statements of Cash Flows (in thousands) Nine Months Ended August 31, 2017 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by (used in) operating activities $ 82,480 $ 30,480 $ (9,690 ) $ — $ 103,270 Cash flows from investing activities: Contributions to unconsolidated joint ventures — (9,899 ) (5,255 ) — (15,154 ) Return of investments in unconsolidated joint ventures — 3,169 4,990 — 8,159 Purchases of property and equipment, net (5,875 ) (719 ) (49 ) — (6,643 ) Intercompany (43,367 ) — — 43,367 — Net cash used in investing activities (49,242 ) (7,449 ) (314 ) 43,367 (13,638 ) Cash flows from financing activities: Repayment of senior notes (105,326 ) — — — (105,326 ) Issuance costs for unsecured revolving credit facility (1,711 ) — — — (1,711 ) Payments on mortgages and land contracts due to land sellers and other loans — (92,443 ) — — (92,443 ) Issuance of common stock under employee stock plans 20,677 — — — 20,677 Payments of cash dividends (6,479 ) — — — (6,479 ) Stock repurchases (2,543 ) — — — (2,543 ) Intercompany — 51,595 (8,228 ) (43,367 ) — Net cash used in financing activities (95,382 ) (40,848 ) (8,228 ) (43,367 ) (187,825 ) Net decrease in cash and cash equivalents (62,144 ) (17,817 ) (18,232 ) — (98,193 ) Cash and cash equivalents at beginning of period 463,100 100,439 29,461 — 593,000 Cash and cash equivalents at end of period $ 400,956 $ 82,622 $ 11,229 $ — $ 494,807 Nine Months Ended August 31, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by (used in) operating activities $ 49,705 $ (205,084 ) $ 52,767 $ — $ (102,612 ) Cash flows from investing activities: Contributions to unconsolidated joint ventures — (1,000 ) — — (1,000 ) Return of investments in unconsolidated joint ventures — 3,495 — — 3,495 Purchases of property and equipment, net (2,066 ) (452 ) (162 ) — (2,680 ) Intercompany (141,886 ) — — 141,886 — Net cash provided by (used in) investing activities (143,952 ) 2,043 (162 ) 141,886 (185 ) Cash flows from financing activities: Change in restricted cash 8,742 — — — 8,742 Payments on mortgages and land contracts due to land sellers and other loans — (41,913 ) — — (41,913 ) Issuance of common stock under employee stock plans 7,351 — — — 7,351 Payments of cash dividends (6,471 ) — — — (6,471 ) Stock repurchases (87,531 ) — — — (87,531 ) Intercompany — 206,168 (64,282 ) (141,886 ) — Net cash provided by (used in) financing activities (77,909 ) 164,255 (64,282 ) (141,886 ) (119,822 ) Net decrease in cash and cash equivalents (172,156 ) (38,786 ) (11,677 ) — (222,619 ) Cash and cash equivalents at beginning of period 444,850 96,741 18,750 — 560,341 Cash and cash equivalents at end of period $ 272,694 $ 57,955 $ 7,073 $ — $ 337,722

Subsequent Event

Subsequent Event	9 Months Ended
	Aug. 31, 2017
Subsequent Event [Line Items]
Subsequent Event	Subsequent Event On September 15, 2017, we repaid the remaining $165.0 million in aggregate principal amount of the 9.10% Senior Notes due 2017 at their maturity. We used internally generated cash to retire the notes.

Basis of Presentation and Sig26

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Aug. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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 $306.1 million at August 31, 2017 and $396.1 million at November 30, 2016 . The majority of our cash and cash equivalents was invested in interest-bearing bank deposit accounts.
Presentation of Comprehensive Income	Our comprehensive income was $50.2 million for the three months ended August 31, 2017 and $39.4 million for the three months ended August 31, 2016 . For the nine months ended August 31, 2017 and 2016, our comprehensive income was $96.2 million and $68.1 million , respectively. Our comprehensive income for each of the three-month and nine-month periods ended August 31, 2017 and 2016 was equal to our net income for the respective periods.
Recent Accounting Pronouncements	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 and 2017, the FASB issued accounting standards updates that amended several aspects of ASU 2014-09. ASU 2014-09, as amended, is effective for us for annual and interim periods 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 expect to adopt ASU 2014-09 under the modified retrospective method in our 2019 first quarter. We are currently evaluating the potential impact of adopting this guidance on our consolidated financial statements and disclosures, 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. We are also continuing to evaluate the impact adopting this guidance may have on other aspects of our business. 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 lease 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) and 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 after 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.
Reclassifications	Certain amounts in our consolidated financial statements for prior years have been reclassified to conform to the current period presentation.
Accounting Standards Codification Topic No.280, Segment Reporting	We have identified five operating reporting segments, comprised of four homebuilding reporting segments and one financial services reporting segment. As of August 31, 2017 , 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. Our financial services reporting segment offers property and casualty insurance and, in certain instances, earthquake, flood and personal property insurance to our homebuyers in the same markets as our homebuilding reporting segments, and provides title services in the majority of our markets located within our Central and Southeast homebuilding reporting segments. This segment earns revenues primarily from insurance commissions and from the provision of title services. Until October 2016, we provided mortgage banking services, including residential mortgage loan (“mortgage loan”) originations, to our homebuyers indirectly through Home Community Mortgage, LLC (“HCM”), a joint venture of a subsidiary of ours and a subsidiary of Nationstar Mortgage LLC (“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, LLC (“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 KBHS Home Loans, LLC (“KBHS”), an unconsolidated mortgage banking joint venture to offer mortgage banking services, including mortgage loan originations, to our homebuyers. We and Stearns Lending each have a 50.0% ownership interest in KBHS, with Stearns Lending providing management oversight of KBHS’ operations. KBHS was operational in all of our served markets as of June 2017. 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. 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.
Accounting Standards Codification Topic No. 260, 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 August 31, 2017 or August 31, 2016 .
Property, Plant and Equipment (ASC 360)	Each community or land parcel in our owned inventory is assessed on a quarterly basis to determine if indicators of potential impairment exist. We record an inventory impairment charge on a community or land parcel that is active or held for future development when indicators of potential impairment exist and the carrying value of the real estate asset is greater than the undiscounted future net cash flows the asset is expected to generate. These real estate assets are written down to fair value, which is primarily determined based on the estimated future net cash flows discounted for inherent risk associated with each such asset, or other valuation techniques. 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.
Accounting Standards Codification Topic No.810, Consolidation (ASC 810)	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 variable interest entity (“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 analyses, we determined that one of our joint ventures at August 31, 2017 and November 30, 2016 was a VIE, but we were not the primary beneficiary of the VIE. All of our joint ventures at August 31, 2017 and November 30, 2016 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. 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 under the variable interest model 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. As a result of our analyses, we determined that as of August 31, 2017 and November 30, 2016 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.
Accounting Standards Codification Topic No. 470, Debt (ASC 470)	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 in our consolidated balance sheets with a corresponding financing obligation if we determine that we are effectively compelled to exercise the option to purchase the land parcel(s). In making this determination with respect to a land option contract or other similar 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 $28.5 million at August 31, 2017 and $50.5 million at November 30, 2016 .
Income Taxes (ASC 740)	We evaluate our deferred tax assets quarterly to determine if adjustments to our valuation allowance are required based on the consideration of all available positive and negative evidence using a “more likely than not” standard with respect to whether deferred tax assets will be realized. Our evaluation considers, among other factors, our historical operating results, our expectation of future profitability, the duration of the applicable statutory carryforward periods, and conditions in the housing market and the broader economy. The ultimate realization of our deferred tax assets depends primarily on our ability to generate future taxable income during the periods in which the related temporary differences in the financial basis and the tax basis of the assets become deductible. The value of our deferred tax assets depends on applicable income tax rates
Accounting Standards Codification Topic No. 820, Fair Value Measurements and 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.
Accounting Standards Codification Topic No. 460, Guarantees	Guarantees. In the normal course of our business, we issue certain representations, warranties and guarantees related to our home sales 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	Self-Insurance. We 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 construction defect, bodily injury and property damage claims and related litigation or regulatory actions, up to certain limits. Our self-insurance liability generally covers our 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 without consideration of insurance recoveries and amounts we have paid on behalf of and expect to recover from other parties, if any. Estimated probable self-insurance recoveries of $75.0 million and $84.5 million are included in receivables in our consolidated balance sheets at August 31, 2017 and November 30, 2016 , respectively. These self-insurance recoveries 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 period to period. Because of the inherent uncertainty and variability in these assumptions, our actual insurance recoveries could differ significantly from amounts currently estimated.
Warranty	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 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.
Stock-Based Compensation (ASC 718)	We estimate the grant-date fair value of stock options using the Black-Scholes option-pricing model.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Aug. 31, 2017
Segment Reporting [Abstract]
Financial Information Relating to Company Reporting Segments	The following tables present financial information relating to our homebuilding reporting segments (in thousands): Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Revenues: West Coast $ 609,598 $ 414,150 $ 1,426,030 $ 1,029,269 Southwest 132,307 106,187 376,132 318,190 Central 291,006 265,524 826,008 707,917 Southeast 107,876 124,250 328,935 338,939 Total $ 1,140,787 $ 910,111 $ 2,957,105 $ 2,394,315 Pretax income (loss): West Coast $ 58,922 $ 36,912 $ 118,271 $ 78,647 Southwest 11,648 8,592 30,269 31,229 Central 28,921 27,601 75,584 61,515 Southeast 1,129 2,329 (605 ) (11,825 ) Corporate and other (24,396 ) (24,384 ) (78,231 ) (70,395 ) Total $ 76,224 $ 51,050 $ 145,288 $ 89,171 Inventory impairment charges: West Coast $ 4,992 $ 2,579 $ 8,136 $ 7,153 Southwest 2,102 — 3,445 — Central — — — 787 Southeast — — 3,032 5,915 Total $ 7,094 $ 2,579 $ 14,613 $ 13,855 Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Land option contract abandonments: West Coast $ 903 $ 270 $ 2,738 $ 691 Southwest — 142 — 253 Central — — 518 460 Southeast 116 61 253 1,499 Total $ 1,019 $ 473 $ 3,509 $ 2,903 August 31, November 30, Inventories: Homes under construction West Coast $ 852,965 $ 695,742 Southwest 170,805 130,886 Central 368,112 297,290 Southeast 109,595 122,020 Subtotal 1,501,477 1,245,938 Land under development West Coast 698,736 820,088 Southwest 280,754 268,507 Central 432,448 456,508 Southeast 172,540 182,554 Subtotal 1,584,478 1,727,657 Land held for future development or sale West Coast 222,327 210,910 Southwest 111,220 122,927 Central 14,496 15,439 Southeast 79,796 80,357 Subtotal 427,839 429,633 Total $ 3,513,794 $ 3,403,228 Assets: West Coast $ 1,920,337 $ 1,847,279 Southwest 598,085 564,636 Central 934,610 909,497 Southeast 369,484 414,730 Corporate and other 1,264,356 1,384,983 Total $ 5,086,872 $ 5,121,125

Financial Services (Tables)

Financial Services (Tables)	9 Months Ended
	Aug. 31, 2017
Segment Reporting Information [Line Items]
Financial Services Income (Loss)	The following tables present financial information relating to our financial services reporting segment (in thousands): Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Revenues Insurance commissions $ 1,897 $ 1,897 $ 4,515 $ 4,844 Title services 1,317 1,275 3,766 3,545 Interest income — — 5 — Total 3,214 3,172 8,286 8,389 Expenses General and administrative (890 ) (891 ) (2,525 ) (2,621 ) Operating income 2,324 2,281 5,761 5,768 Equity in income (loss) of unconsolidated joint ventures 660 132 1,600 (652 ) Pretax income $ 2,984 $ 2,413 $ 7,361 $ 5,116
Financial services [Member]
Segment Reporting Information [Line Items]
Schedule of Financial Services Assets and Liabilities	August 31, November 30, Assets Cash and cash equivalents $ 754 $ 914 Receivables 2,224 1,764 Investments in unconsolidated joint ventures (a) 9,631 7,771 Other assets 78 50 Total assets $ 12,687 $ 10,499 Liabilities Accounts payable and accrued expenses $ 1,535 $ 2,003 Total liabilities $ 1,535 $ 2,003

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Aug. 31, 2017
Earnings Per Share, Basic and Diluted [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): Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Numerator: Net income $ 50,208 $ 39,363 $ 96,249 $ 68,087 Less: Distributed earnings allocated to nonvested restricted stock (14 ) (10 ) (43 ) (31 ) Less: Undistributed earnings allocated to nonvested restricted stock (307 ) (180 ) (602 ) (296 ) Numerator for basic earnings per share 49,887 39,173 95,604 67,760 Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Effect of dilutive securities: Interest expense and amortization of debt issuance costs associated with convertible senior notes, net of taxes 664 667 1,990 2,000 Add: Undistributed earnings allocated to nonvested restricted stock 307 180 602 296 Less: Undistributed earnings reallocated to nonvested restricted stock (267 ) (161 ) (528 ) (264 ) Numerator for diluted earnings per share $ 50,591 $ 39,859 $ 97,668 $ 69,792 Denominator: Weighted average shares outstanding — basic 85,974 84,457 85,517 85,952 Effect of dilutive securities: Share-based payments 4,536 2,344 3,705 2,083 Convertible senior notes 8,402 8,402 8,402 8,402 Weighted average shares outstanding — diluted 98,912 95,203 97,624 96,437 Basic earnings per share $ .58 $ .46 $ 1.12 $ .79 Diluted earnings per share $ .51 $ .42 $ 1.00 $ .72

Receivables (Tables)

Receivables (Tables)	9 Months Ended
	Aug. 31, 2017
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	Receivables consisted of the following (in thousands): August 31, November 30, Due from utility companies, improvement districts and municipalities $ 111,267 $ 102,780 Recoveries related to self-insurance claims 75,018 84,476 Refundable deposits and bonds 14,211 13,665 Recoveries related to warranty and other claims 5,202 14,609 Other 36,102 28,745 Subtotal 241,800 244,275 Allowance for doubtful accounts (12,767 ) (12,610 ) Total $ 229,033 $ 231,665

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Aug. 31, 2017
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following (in thousands): August 31, November 30, Homes under construction $ 1,501,477 $ 1,245,938 Land under development 1,584,478 1,727,657 Land held for future development or sale (a) 427,839 429,633 Total $ 3,513,794 $ 3,403,228
Schedule of Capitalized Interest Costs	Our interest costs were as follows (in thousands): Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Capitalized interest at beginning of period $ 303,984 $ 309,045 $ 306,723 $ 288,442 Interest incurred (a) 43,434 46,485 136,857 138,994 Interest expensed (a) — — (6,307 ) (5,667 ) Interest amortized to construction and land costs (b) (55,204 ) (40,424 ) (145,059 ) (106,663 ) Capitalized interest at end of period (c) $ 292,214 $ 315,106 $ 292,214 $ 315,106 (a) Interest incurred and interest expensed for the nine months ended August 31, 2017 included a charge of $5.7 million for the early extinguishment of debt. (b) Interest amortized to construction and land costs for the three months ended August 31, 2017 included $.2 million related to land sales during the period. We had no land sale activity for the three months ended August 31, 2016 . Interest amortized to construction and land costs for the nine months ended August 31, 2017 and 2016 included $1.8 million and $.5 million , respectively, related to land sales during those periods. (c) Capitalized interest amounts presented in the table reflect the gross amount of capitalized interest, as inventory impairment charges recognized, if any, are not generally allocated to specific components of inventory.

Inventory Impairments and Lan32

Inventory Impairments and Land Option Contract Abandonments (Tables)	9 Months Ended
	Aug. 31, 2017
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 the impaired communities written down to fair value during the periods presented: Three Months Ended August 31, Nine Months Ended August 31, Unobservable Input (a) 2017 2016 2017 2016 Average selling price $207,100 - $1,576,500 $351,600 - $486,000 $207,100 - $1,576,500 $280,100 - $486,000 Deliveries per month 2 - 4 2 - 3 2 - 4 1 - 4 Discount rate 17% - 18% 17% 17% - 18% 17% - 20% (a) The ranges of inputs used in each period primarily reflect differences between the housing markets where each impacted community is located, rather than fluctuations in prevailing market conditions.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Aug. 31, 2017
Variable Interest Entities [Abstract]
Summary of Interests in Land Option Contracts	The following table presents a summary of our interests in land option contracts and other similar contracts (in thousands): August 31, 2017 November 30, 2016 Cash Deposits Aggregate Purchase Price Cash Deposits Aggregate Purchase Price Unconsolidated VIEs $ 18,318 $ 607,813 $ 24,910 $ 641,642 Other land option contracts and other similar contracts 20,815 372,371 17,919 431,954 Total $ 39,133 $ 980,184 $ 42,829 $ 1,073,596

Investments in Unconsolidated34

Investments in Unconsolidated Joint Ventures (Tables)	9 Months Ended
	Aug. 31, 2017
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): Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Revenues $ 12,802 $ 19,338 $ 39,604 $ 41,190 Construction and land costs (12,832 ) (19,383 ) (37,625 ) (45,379 ) Other expense, net (1,294 ) (1,008 ) (3,547 ) (3,599 ) Loss $ (1,324 ) $ (1,053 ) $ (1,568 ) $ (7,788 )
Balance Sheets of Unconsolidated Joint Ventures	The following table presents combined condensed balance sheet information for our unconsolidated joint ventures (in thousands): August 31, November 30, Assets Cash $ 21,372 $ 31,928 Receivables 797 882 Inventories 145,299 165,385 Other assets 2,270 629 Total assets $ 169,738 $ 198,824 Liabilities and equity Accounts payable and other liabilities $ 19,174 $ 19,880 Notes payable (a) 25,618 44,381 Equity 124,946 134,563 Total liabilities and equity $ 169,738 $ 198,824 (a) Two of our unconsolidated joint ventures have separate construction loan agreements with different third-party lenders to finance their respective land development activities. The outstanding debt under these agreements is secured by the corresponding underlying property and related project assets and is non-recourse to us. Of this outstanding secured debt at August 31, 2017, $24.8 million is scheduled to mature in August 2018 and the remainder is scheduled to mature in February 2020. At November 30, 2016, only one of these unconsolidated joint ventures had outstanding secured debt. None of our other unconsolidated joint ventures had any outstanding debt at August 31, 2017 or November 30, 2016
Information Related Investments in Unconsolidated Joint Ventures	The following table presents additional information relating to our investments in unconsolidated joint ventures (dollars in thousands): August 31, November 30, Number of investments in unconsolidated joint ventures 7 7 Investments in unconsolidated joint ventures $ 64,513 $ 64,016 Number of unconsolidated joint venture lots controlled under land option contracts and other similar contracts 388 471

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Aug. 31, 2017
Other Assets [Abstract]
Schedule of Other Assets	Other assets consisted of the following (in thousands): August 31, November 30, Cash surrender value of corporate-owned life insurance contracts $ 73,983 $ 70,829 Property and equipment, net 18,718 14,240 Prepaid expenses 7,150 4,894 Debt issuance costs associated with unsecured revolving credit facility 2,543 1,182 Total $ 102,394 $ 91,145

Accrued Expenses and Other Li36

Accrued Expenses and Other Liabilities (Tables)	9 Months Ended
	Aug. 31, 2017
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consisted of the following (in thousands): August 31, November 30, Self-insurance and other litigation liabilities $ 202,690 $ 170,988 Employee compensation and related benefits 128,838 130,352 Accrued interest payable 79,459 67,411 Warranty liability 63,811 56,682 Inventory-related obligations (a) 54,681 82,682 Customer deposits 19,511 18,175 Real estate and business taxes 14,622 14,370 Other 1,556 10,336 Total $ 565,168 $ 550,996 (a) Represents liabilities for financing arrangements discussed in Note 8 – Variable Interest Entities, as well as liabilities for fixed or determinable amounts associated with tax increment financing entity (“TIFE”) assessments. As homes are delivered, our 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 (Tabl

Income Taxes Income Taxes (Tables)	9 Months Ended
	Aug. 31, 2017
Income Tax Disclosure [Abstract]
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	Our income tax expense and effective income tax rates were as follows (dollars in thousands): Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Income tax expense (a) $ 29,000 $ 14,100 $ 56,400 $ 26,200 Effective income tax rate (a) 36.6 % 26.4 % 36.9 % 27.8 % (a) Amounts reflect the favorable net impact of federal energy tax credits we earned from building energy-efficient homes through December 31, 2016. The net impact of these tax credits was $2.6 million and $6.7 million for the three months ended August 31, 2017 and 2016, respectively, and $3.8 million and $10.4 million for the nine months ended August 31, 2017 and 2016, respectively.

Notes Payable (Tables)

Notes Payable (Tables)	9 Months Ended
	Aug. 31, 2017
Debt Disclosure [Abstract]
Schedule of Mortgages and Notes Payable	Notes payable consisted of the following (in thousands): August 31, November 30, Mortgages and land contracts due to land sellers and other loans $ 24,142 $ 66,927 9.10% Senior notes due September 15, 2017 164,963 263,932 7 1/4% Senior notes due June 15, 2018 299,811 299,647 4.75% Senior notes due May 15, 2019 398,134 397,364 8.00% Senior notes due March 15, 2020 345,869 344,811 7.00% Senior notes due December 15, 2021 446,429 445,911 7.50% Senior notes due September 15, 2022 347,116 346,774 7.625% Senior notes due May 15, 2023 247,643 247,404 1.375% Convertible senior notes due February 1, 2019 228,272 227,379 Total $ 2,502,379 $ 2,640,149

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	9 Months Ended
	Aug. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of Assets Measured at Fair Value on Nonrecurring Basis	The following table presents the fair value hierarchy and our assets measured at fair value on a nonrecurring basis for the nine months ended August 31, 2017 and the year ended November 30, 2016 (in thousands): Description Fair Value Hierarchy August 31, November 30, Inventories (a) Level 2 $ — $ 3,657 Inventories (a) Level 3 32,262 37,329 (a) Amounts represent the aggregate fair value for real estate assets impacted by inventory impairment charges during the applicable period as of the date 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.
Schedule of Fair Value Hierarchy, 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): August 31, 2017 November 30, 2016 Fair Value Hierarchy Carrying Value (a) Estimated Fair Value Carrying Value (a) Estimated Fair Value Financial Liabilities: Senior notes Level 2 $ 2,249,965 $ 2,460,581 $ 2,345,843 $ 2,494,844 Convertible senior notes Level 2 228,272 237,475 227,379 223,675

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Aug. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Changes in the Warranty Liability	The changes in our warranty liability were as follows (in thousands): Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Balance at beginning of period $ 60,037 $ 48,837 $ 56,682 $ 49,085 Warranties issued 10,041 8,006 25,965 19,573 Payments (6,267 ) (4,719 ) (18,836 ) (17,186 ) Adjustments — — — 652 Balance at end of period $ 63,811 $ 52,124 $ 63,811 $ 52,124
Schedule of Self-Insurance Liability	The changes in our self-insurance liability were as follows (in thousands): Three Months Ended August 31, Nine Months Ended August 31, 2017 2016 2017 2016 Balance at beginning of period $ 156,505 $ 156,733 $ 158,584 $ 173,011 Self-insurance expense (a) 5,573 7,110 13,811 15,532 Payments (2,291 ) (4,517 ) (7,051 ) (19,952 ) Adjustments (b) 21,673 — 21,673 — Reclassification of estimated probable recoveries (c) (3,901 ) 5,518 (9,458 ) (3,747 ) Balance at end of period $ 177,559 $ 164,844 $ 177,559 $ 164,844 (a) These expenses are included in selling, general and administrative expenses and are largely offset by contributions from subcontractors participating in the wrap-up policy. (b) Amounts for the three months and nine months ended August 31, 2017 reflect a change in estimate to increase our self-insurance liability based on a review of actual claim resolution experience, which indicated a higher frequency of claims and, to a lesser extent, a higher claim severity than previously anticipated. Based on these higher historical claim frequency and severity trends, we determined in the 2017 third quarter that future payments for claims relating to homes delivered in certain prior years were likely to exceed the then-estimated liabilities remaining for those claims. Therefore, we recorded an adjustment to increase our self-insurance liability based on an actuarially determined estimate that we believe has a higher probability of being adequate to cover future payments associated with unresolved claims, including claims incurred but not yet reported. This adjustment is included in selling, general and administrative expenses. (c) Amount for each period represents the changes in the estimated probable insurance and other recoveries that were reclassified to receivables to present our self-insurance liability on a gross basis.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Aug. 31, 2017
Equity [Abstract]
Summary of Changes in Stockholders’ Equity	A summary of changes in stockholders’ equity is presented below (in thousands): Nine Months Ended August 31, 2017 Number of Shares Common Stock Grantor Stock Ownership Trust Treasury Stock Common Stock Paid-in Capital Retained Earnings Accumulated Other Comprehensive Loss Grantor Stock Ownership Trust Treasury Stock Total Stockholders’ Equity Balance at November 30, 2016 116,224 (9,432 ) (21,720 ) $ 116,224 $ 696,938 $ 1,563,742 $ (16,057 ) $ (102,300 ) $ (535,402 ) $ 1,723,145 Net income — — — — — 96,249 — — — 96,249 Dividends on common stock — — — — — (6,479 ) — — — (6,479 ) Employee stock options/other 1,205 — — 1,205 19,472 — — — — 20,677 Stock awards 69 279 27 69 (3,767 ) — — 3,021 677 — Stock-based compensation — — — — 9,893 — — — — 9,893 Stock repurchases — — (152 ) — — — — — (2,543 ) (2,543 ) Balance at August 31, 2017 117,498 (9,153 ) (21,845 ) $ 117,498 $ 722,536 $ 1,653,512 $ (16,057 ) $ (99,279 ) $ (537,268 ) $ 1,840,942

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Aug. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Outstanding and Exercisable Stock Options	The following table summarizes stock option transactions for the nine months ended August 31, 2017 : Options Weighted Average Exercise Price Options outstanding at beginning of period 12,731,545 $ 18.95 Granted — — Exercised (1,204,676 ) 17.17 Cancelled (945,742 ) 28.51 Options outstanding at end of period 10,581,127 $ 18.30 Options exercisable at end of period 8,556,885 $ 18.98

Supplemental Disclosure to Co43

Supplemental Disclosure to Consolidated Statements of Cash Flows (Tables)	9 Months Ended
	Aug. 31, 2017
Supplemental Cash Flow Information [Abstract]
Schedule of Supplemental Cash Flow Disclosures	The following are supplemental disclosures to the consolidated statements of cash flows (in thousands): Nine Months Ended August 31, 2017 2016 Summary of cash and cash equivalents at end of period: Homebuilding $ 494,053 $ 334,669 Financial services 754 3,053 Total $ 494,807 $ 337,722 Supplemental disclosures of cash flow information: Interest paid, net of amounts capitalized $ (17,111 ) $ (13,512 ) Income taxes paid 3,464 3,208 Supplemental disclosures of noncash activities: Reclassification of warranty recoveries to receivables $ — $ 2,151 Decrease in consolidated inventories not owned (22,018 ) (59,144 ) Increase in inventories due to distributions of land and land development from an unconsolidated joint venture 5,198 4,331 Inventories acquired through seller financing 49,658 89,968

Supplemental Guarantor Inform44

Supplemental Guarantor Information (Tables)	9 Months Ended
	Aug. 31, 2017
Guarantees [Abstract]
Condensed Consolidated Statements of Operations	Three Months Ended August 31, 2017 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Total revenues $ — $ 1,048,045 $ 95,956 $ — $ 1,144,001 Homebuilding: Revenues $ — $ 1,048,045 $ 92,742 $ — $ 1,140,787 Construction and land costs — (871,350 ) (83,651 ) — (955,001 ) Selling, general and administrative expenses (23,220 ) (72,686 ) (13,189 ) — (109,095 ) Operating income (loss) (23,220 ) 104,009 (4,098 ) — 76,691 Interest income 345 2 — — 347 Interest expense (41,746 ) (434 ) (1,254 ) 43,434 — Intercompany interest 77,367 (31,059 ) (2,874 ) (43,434 ) — Equity in loss of unconsolidated joint ventures — (814 ) — — (814 ) Homebuilding pretax income (loss) 12,746 71,704 (8,226 ) — 76,224 Financial services pretax income — — 2,984 — 2,984 Total pretax income (loss) 12,746 71,704 (5,242 ) — 79,208 Income tax benefit (expense) (3,700 ) (26,200 ) 900 — (29,000 ) Equity in net income of subsidiaries 41,162 — — (41,162 ) — Net income (loss) $ 50,208 $ 45,504 $ (4,342 ) $ (41,162 ) $ 50,208 Three Months Ended August 31, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Total revenues $ — $ 801,832 $ 111,451 $ — $ 913,283 Homebuilding: Revenues $ — $ 801,832 $ 108,279 $ — $ 910,111 Construction and land costs — (664,224 ) (96,266 ) — (760,490 ) Selling, general and administrative expenses (23,436 ) (64,541 ) (10,167 ) — (98,144 ) Operating income (loss) (23,436 ) 73,067 1,846 — 51,477 Interest income 96 11 2 — 109 Interest expense (46,485 ) — — 46,485 — Intercompany interest 78,834 (27,997 ) (4,352 ) (46,485 ) — Equity in loss of unconsolidated joint ventures — (536 ) — — (536 ) Homebuilding pretax income (loss) 9,009 44,545 (2,504 ) — 51,050 Financial services pretax income — — 2,413 — 2,413 Total pretax income (loss) 9,009 44,545 (91 ) — 53,463 Income tax expense (1,600 ) (12,300 ) (200 ) — (14,100 ) Equity in net income of subsidiaries 31,954 — — (31,954 ) — Net income (loss) $ 39,363 $ 32,245 $ (291 ) $ (31,954 ) $ 39,363 Nine Months Ended August 31, 2017 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Total revenues $ — $ 2,671,533 $ 293,858 $ — $ 2,965,391 Homebuilding: Revenues $ — $ 2,671,533 $ 285,572 $ — $ 2,957,105 Construction and land costs — (2,240,974 ) (258,703 ) — (2,499,677 ) Selling, general and administrative expenses (68,809 ) (206,513 ) (30,579 ) — (305,901 ) Operating income (loss) (68,809 ) 224,046 (3,710 ) — 151,527 Interest income 740 5 2 — 747 Interest expense (131,788 ) (1,428 ) (3,641 ) 130,550 (6,307 ) Intercompany interest 226,470 (87,524 ) (8,396 ) (130,550 ) — Equity in loss of unconsolidated joint ventures — (678 ) (1 ) — (679 ) Homebuilding pretax income (loss) 26,613 134,421 (15,746 ) — 145,288 Financial services pretax income — — 7,361 — 7,361 Total pretax income (loss) 26,613 134,421 (8,385 ) — 152,649 Income tax benefit (expense) (4,900 ) (52,300 ) 800 — (56,400 ) Equity in net income of subsidiaries 74,536 — — (74,536 ) — Net income (loss) $ 96,249 $ 82,121 $ (7,585 ) $ (74,536 ) $ 96,249 Nine Months Ended August 31, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Total revenues $ — $ 2,103,943 $ 298,761 $ — $ 2,402,704 Homebuilding: Revenues $ — $ 2,103,943 $ 290,372 $ — $ 2,394,315 Construction and land costs — (1,751,995 ) (266,027 ) — (2,018,022 ) Selling, general and administrative expenses (66,752 ) (182,015 ) (31,119 ) — (279,886 ) Operating income (loss) (66,752 ) 169,933 (6,774 ) — 96,407 Interest income 336 53 6 — 395 Interest expense (135,192 ) (1,641 ) (2,161 ) 133,327 (5,667 ) Intercompany interest 228,596 (82,984 ) (12,285 ) (133,327 ) — Equity in loss of unconsolidated joint ventures — (1,961 ) (3 ) — (1,964 ) Homebuilding pretax income (loss) 26,988 83,400 (21,217 ) — 89,171 Financial services pretax income — — 5,116 — 5,116 Total pretax income (loss) 26,988 83,400 (16,101 ) — 94,287 Income tax benefit (expense) (3,700 ) (24,600 ) 2,100 — (26,200 ) Equity in net income of subsidiaries 44,799 — — (44,799 ) — Net income (loss) $ 68,087 $ 58,800 $ (14,001 ) $ (44,799 ) $ 68,087
Condensed Consolidated Balance Sheets	Condensed Consolidating Balance Sheets (in thousands) August 31, 2017 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Assets Homebuilding: Cash and cash equivalents $ 400,956 $ 82,622 $ 10,475 $ — $ 494,053 Receivables 4,939 144,447 79,647 — 229,033 Inventories — 3,167,657 346,137 — 3,513,794 Investments in unconsolidated joint ventures — 62,011 2,502 — 64,513 Deferred tax assets, net 271,967 265,640 145,478 — 683,085 Other assets 91,420 8,384 2,590 — 102,394 769,282 3,730,761 586,829 — 5,086,872 Financial services — — 12,687 — 12,687 Intercompany receivables 3,606,529 — 102,335 (3,708,864 ) — Investments in subsidiaries 108,984 — — (108,984 ) — Total assets $ 4,484,795 $ 3,730,761 $ 701,851 $ (3,817,848 ) $ 5,099,559 Liabilities and stockholders’ equity Homebuilding: Accounts payable, accrued expenses and other liabilities $ 169,661 $ 365,102 $ 219,940 $ — $ 754,703 Notes payable 2,453,127 23,222 26,030 — 2,502,379 2,622,788 388,324 245,970 — 3,257,082 Financial services — — 1,535 — 1,535 Intercompany payables 21,065 3,270,731 417,068 (3,708,864 ) — Stockholders’ equity 1,840,942 71,706 37,278 (108,984 ) 1,840,942 Total liabilities and stockholders’ equity $ 4,484,795 $ 3,730,761 $ 701,851 $ (3,817,848 ) $ 5,099,559 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 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
Condensed Consolidated Statements of Cash Flows	Condensed Consolidating Statements of Cash Flows (in thousands) Nine Months Ended August 31, 2017 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by (used in) operating activities $ 82,480 $ 30,480 $ (9,690 ) $ — $ 103,270 Cash flows from investing activities: Contributions to unconsolidated joint ventures — (9,899 ) (5,255 ) — (15,154 ) Return of investments in unconsolidated joint ventures — 3,169 4,990 — 8,159 Purchases of property and equipment, net (5,875 ) (719 ) (49 ) — (6,643 ) Intercompany (43,367 ) — — 43,367 — Net cash used in investing activities (49,242 ) (7,449 ) (314 ) 43,367 (13,638 ) Cash flows from financing activities: Repayment of senior notes (105,326 ) — — — (105,326 ) Issuance costs for unsecured revolving credit facility (1,711 ) — — — (1,711 ) Payments on mortgages and land contracts due to land sellers and other loans — (92,443 ) — — (92,443 ) Issuance of common stock under employee stock plans 20,677 — — — 20,677 Payments of cash dividends (6,479 ) — — — (6,479 ) Stock repurchases (2,543 ) — — — (2,543 ) Intercompany — 51,595 (8,228 ) (43,367 ) — Net cash used in financing activities (95,382 ) (40,848 ) (8,228 ) (43,367 ) (187,825 ) Net decrease in cash and cash equivalents (62,144 ) (17,817 ) (18,232 ) — (98,193 ) Cash and cash equivalents at beginning of period 463,100 100,439 29,461 — 593,000 Cash and cash equivalents at end of period $ 400,956 $ 82,622 $ 11,229 $ — $ 494,807 Nine Months Ended August 31, 2016 KB Home Corporate Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating Adjustments Total Net cash provided by (used in) operating activities $ 49,705 $ (205,084 ) $ 52,767 $ — $ (102,612 ) Cash flows from investing activities: Contributions to unconsolidated joint ventures — (1,000 ) — — (1,000 ) Return of investments in unconsolidated joint ventures — 3,495 — — 3,495 Purchases of property and equipment, net (2,066 ) (452 ) (162 ) — (2,680 ) Intercompany (141,886 ) — — 141,886 — Net cash provided by (used in) investing activities (143,952 ) 2,043 (162 ) 141,886 (185 ) Cash flows from financing activities: Change in restricted cash 8,742 — — — 8,742 Payments on mortgages and land contracts due to land sellers and other loans — (41,913 ) — — (41,913 ) Issuance of common stock under employee stock plans 7,351 — — — 7,351 Payments of cash dividends (6,471 ) — — — (6,471 ) Stock repurchases (87,531 ) — — — (87,531 ) Intercompany — 206,168 (64,282 ) (141,886 ) — Net cash provided by (used in) financing activities (77,909 ) 164,255 (64,282 ) (141,886 ) (119,822 ) Net decrease in cash and cash equivalents (172,156 ) (38,786 ) (11,677 ) — (222,619 ) Cash and cash equivalents at beginning of period 444,850 96,741 18,750 — 560,341 Cash and cash equivalents at end of period $ 272,694 $ 57,955 $ 7,073 $ — $ 337,722

Basis of Presentation and Sig45

Basis of Presentation and Significant Accounting Policies (Narratives) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016	Nov. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash equivalents	$ 306.1		$ 306.1		$ 396.1
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 50.2	$ 39.4	$ 96.2	$ 68.1

Segment Information (Narratives

Segment Information (Narratives) (Details)	3 Months Ended
	Aug. 31, 2017segment
Schedule of Equity Method Investments [Line Items]
Number of reporting segments	5
Home Community Mortgage LLC [Member]
Schedule of Equity Method Investments [Line Items]
Ownership interest in the venture	49.90%
Home Community Mortgage LLC [Member] | Nationstar Mortgage, LLC
Schedule of Equity Method Investments [Line Items]
Ownership interest in the venture	50.10%
KBHS, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Ownership interest in the venture	50.00%
KBHS, LLC [Member] | Stearns Lending, LLC [Member]
Schedule of Equity Method Investments [Line Items]
Ownership interest in the venture	50.00%
Homebuilding [Member]
Schedule of Equity Method Investments [Line Items]
Number of reporting segments	4
Financial services [Member]
Schedule of Equity Method Investments [Line Items]
Number of reporting segments	1

Segment Information (Segment Fi

Segment Information (Segment Financial Information) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
		Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016	Nov. 30, 2016
Segment Reporting Information [Line Items]
Impairment of Real Estate		$ 7,094	$ 2,579	$ 14,613	$ 13,855	$ 49,600
Inventory, Homes under Construction		1,501,477		1,501,477		1,245,938
Inventory, Real Estate, Land and Land Development Costs		1,584,478		1,584,478		1,727,657
Inventory, Land Held for Development and Sale	[1]	427,839		427,839		429,633
Inventory, Operative Builders		3,513,794		3,513,794		3,403,228
Revenues:
Home Building Revenue		1,140,787	910,111	2,957,105	2,394,315
Pretax income (loss):
Total pretax income (loss)		79,208	53,463	152,649	94,287
Assets:
Total assets		5,099,559		5,099,559		5,131,624
Homebuilding [Member]
Pretax income (loss):
Total pretax income (loss)		76,224	51,050	145,288	89,171
Assets:
Total assets		5,086,872		5,086,872		5,121,125
Financial services [Member]
Pretax income (loss):
Total pretax income (loss)		2,984	2,413	7,361	5,116
Assets:
Total assets		12,687		12,687		10,499
West Coast [Member]
Segment Reporting Information [Line Items]
Impairment of Real Estate		4,992	2,579	8,136	7,153
Inventory, Homes under Construction		852,965		852,965		695,742
Inventory, Real Estate, Land and Land Development Costs		698,736		698,736		820,088
Inventory, Land Held for Development and Sale		222,327		222,327		210,910
Revenues:
Home Building Revenue		609,598	414,150	1,426,030	1,029,269
West Coast [Member] | Homebuilding [Member]
Pretax income (loss):
Total pretax income (loss)		58,922	36,912	118,271	78,647
Assets:
Total assets		1,920,337		1,920,337		1,847,279
Southwest [Member]
Segment Reporting Information [Line Items]
Impairment of Real Estate		2,102	0	3,445	0
Inventory, Homes under Construction		170,805		170,805		130,886
Inventory, Real Estate, Land and Land Development Costs		280,754		280,754		268,507
Inventory, Land Held for Development and Sale		111,220		111,220		122,927
Revenues:
Home Building Revenue		132,307	106,187	376,132	318,190
Southwest [Member] | Homebuilding [Member]
Pretax income (loss):
Total pretax income (loss)		11,648	8,592	30,269	31,229
Assets:
Total assets		598,085		598,085		564,636
Central [Member]
Segment Reporting Information [Line Items]
Impairment of Real Estate		0	0	0	787
Inventory, Homes under Construction		368,112		368,112		297,290
Inventory, Real Estate, Land and Land Development Costs		432,448		432,448		456,508
Inventory, Land Held for Development and Sale		14,496		14,496		15,439
Revenues:
Home Building Revenue		291,006	265,524	826,008	707,917
Central [Member] | Homebuilding [Member]
Pretax income (loss):
Total pretax income (loss)		28,921	27,601	75,584	61,515
Assets:
Total assets		934,610		934,610		909,497
Southeast [Member]
Segment Reporting Information [Line Items]
Impairment of Real Estate		0	0	3,032	5,915
Inventory, Homes under Construction		109,595		109,595		122,020
Inventory, Real Estate, Land and Land Development Costs		172,540		172,540		182,554
Inventory, Land Held for Development and Sale		79,796		79,796		80,357
Revenues:
Home Building Revenue		107,876	124,250	328,935	338,939
Southeast [Member] | Homebuilding [Member]
Pretax income (loss):
Total pretax income (loss)		1,129	2,329	(605)	(11,825)
Assets:
Total assets		369,484		369,484		414,730
Corporate and Other [Member] | Homebuilding [Member]
Pretax income (loss):
Total pretax income (loss)		(24,396)	(24,384)	(78,231)	(70,395)
Assets:
Total assets		1,264,356		1,264,356		$ 1,384,983
Land Option Contract Abandonment [Member]
Segment Reporting Information [Line Items]
Loss on Contract Termination		1,019	473	3,509	2,903
Land Option Contract Abandonment [Member] | West Coast [Member]
Segment Reporting Information [Line Items]
Loss on Contract Termination		903	270	2,738	691
Land Option Contract Abandonment [Member] | Southwest [Member]
Segment Reporting Information [Line Items]
Loss on Contract Termination		0	142	0	253
Land Option Contract Abandonment [Member] | Central [Member]
Segment Reporting Information [Line Items]
Loss on Contract Termination		0	0	518	460
Land Option Contract Abandonment [Member] | Southeast [Member]
Segment Reporting Information [Line Items]
Loss on Contract Termination		$ 116	61	$ 253	1,499
Metro Washington, D.C. [Member] | Land Option Contract Abandonment [Member] | Southeast [Member]
Segment Reporting Information [Line Items]
Loss on Contract Termination			$ 1,438		1,400
Metro Washington, D.C. [Member] | Land [Member] | Southeast [Member]
Segment Reporting Information [Line Items]
Impairment of Real Estate					$ 5,400
[1]	Land held for sale totaled $56.1 million at August 31, 2017 and $63.4 million at November 30, 2016.

Financial Services (Schedule of

Financial Services (Schedule of Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016
Segment Reporting Information [Line Items]
Interest and Other Income	$ 0	$ 0	$ 5	$ 0
Revenues
Insurance commissions	1,897	1,897	4,515	4,844
Title services	1,317	1,275	3,766	3,545
Total	3,214	3,172	8,286	8,389
Expenses
General and administrative	(890)	(891)	(2,525)	(2,621)
Operating income	76,691	51,477	151,527	96,407
Equity in income (loss) of unconsolidated joint ventures			921	(2,616)
Total pretax income (loss)	79,208	53,463	152,649	94,287
Financial services [Member]
Expenses
Operating income	2,324	2,281	5,761	5,768
Equity in income (loss) of unconsolidated joint ventures	660	132	1,600	(652)
Total pretax income (loss)	$ 2,984	$ 2,413	7,361	$ 5,116
Home Community Mortgage LLC [Member]
Segment Reporting Information [Line Items]
Limited Partners' Capital Account, Distribution Amount			$ 5,000

Financial Services (Schedule 49

Financial Services (Schedule of Assets and Liabilities) (Details) - USD ($) $ in Thousands		9 Months Ended
		Aug. 31, 2017	Nov. 30, 2016	Aug. 31, 2016	Nov. 30, 2015
Assets
Cash and cash equivalents		$ 494,807	$ 593,000	$ 337,722	$ 560,341
Receivables		229,033	231,665
Investments in unconsolidated joint ventures		64,513	64,016
Other assets		102,394	91,145
Total assets		5,099,559	5,131,624
Liabilities
Accounts payable and accrued expenses		754,703	766,327
Total liabilities		1,535	2,003
Financial services [Member]
Assets
Cash and cash equivalents		754	914	$ 3,053
Receivables		2,224	1,764
Investments in unconsolidated joint ventures	[1]	9,631	7,771
Other assets		78	50
Total assets		12,687	10,499
Liabilities
Accounts payable and accrued expenses		1,535	$ 2,003
KBHS, LLC [Member]
Segment Reporting Information [Line Items]
Limited Partners' Contributed Capital		$ 5,300
[1]	Our investments in unconsolidated joint ventures as of August 31, 2017 included a $5.3 million capital contribution we made to KBHS in the 2017 first quarter, and a $5.0 million distribution we received from HCM in the 2017 second quarter.

Earnings Per Share (Basic and D

Earnings Per Share (Basic and Diluted Earnings (Loss) Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	2,500	6,600	2,500	6,600
Numerator:
Net income	$ 50,208	$ 39,363	$ 96,249	$ 68,087
Less: Distributed earnings allocated to nonvested restricted stock	(14)	(10)	(43)	(31)
Less: Undistributed earnings allocated to nonvested restricted stock	(307)	(180)	(602)	(296)
Numerator for basic earnings per share	49,887	39,173	95,604	67,760
Interest expense and amortization of debt issuance costs associated with convertible senior notes, net of taxes	664	667	1,990	2,000
Add: Undistributed earnings allocated to nonvested restricted stock	307	180	602	296
Less: Undistributed earnings reallocated to nonvested restricted stock	(267)	(161)	(528)	(264)
Numerator for diluted earnings per share	$ 50,591	$ 39,859	$ 97,668	$ 69,792
Denominator:
Weighted average shares outstanding — basic (in shares)	85,974	84,457	85,517	85,952
Effect of dilutive securities: Share-based payments (in shares)	4,536	2,344	3,705	2,083
Effect of dilutive securities: Convertible senior notes (in shares)	8,402	8,402	8,402	8,402
Weighted average shares outstanding — diluted (in shares)	98,912	95,203	97,624	96,437
Basic earnings per share (in dollars per share)	$ 0.58	$ 0.46	$ 1.12	$ 0.79
Diluted earnings per share (in dollars per share)	$ 0.51	$ 0.42	$ 1	$ 0.72

Receivables (Details)

Receivables (Details) - USD ($) $ in Thousands	Aug. 31, 2017	Nov. 30, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Utility and Municipality Receivable	$ 111,267	$ 102,780
Deposits Assets	14,211	13,665
Other Receivables	36,102	28,745
Accounts Receivable, Gross	241,800	244,275
Allowance for Doubtful Accounts Receivable	(12,767)	(12,610)
Accounts and Notes Receivable, Net	229,033	231,665
Self Insurance [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loss Contingency, Receivable	75,018	84,476
Warranty and Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loss Contingency, Receivable	$ 5,202	$ 14,609

Inventories (Schedule of Invent

Inventories (Schedule of Inventories) (Details) - USD ($) $ in Thousands		Aug. 31, 2017	Nov. 30, 2016
Inventory Disclosure [Abstract]
Inventory, Land Held-for-sale		$ 56,100	$ 63,400
Inventories
Homes under construction		1,501,477	1,245,938
Land under development		1,584,478	1,727,657
Land held for future development	[1]	427,839	429,633
Total		$ 3,513,794	$ 3,403,228
[1]	Land held for sale totaled $56.1 million at August 31, 2017 and $63.4 million at November 30, 2016.

Inventories (Schedule of Capita

Inventories (Schedule of Capitalized Interest Costs) (Details) - USD ($)		3 Months Ended		9 Months Ended
		Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016
Interest Costs
Capitalized interest at beginning of period		$ 303,984,000	$ 309,045,000	$ 306,723,000	$ 288,442,000
Interest incurred	[1]	43,434,000	46,485,000	136,857,000	138,994,000
Interest Expense	[1]	0	0	(6,307,000)	(5,667,000)
Interest amortized to construction and land costs	[2]	(55,204,000)	(40,424,000)	(145,059,000)	(106,663,000)
Capitalized interest at end of period	[3]	292,214,000	315,106,000	292,214,000	315,106,000
Loss on early extinguishment of debt				5,685,000	0
Land [Member]
Interest Costs
Interest amortized to construction and land costs		$ (200,000)	$ 0	$ (1,800,000)	$ (500,000)
[1]	Interest incurred and interest expensed for the nine months ended August 31, 2017 included a charge of $5.7 million for the early extinguishment of debt
[2]	Interest amortized to construction and land costs for the three months ended August 31, 2017 included $.2 million related to land sales during the period. We had no land sale activity for the three months ended August 31, 2016. Interest amortized to construction and land costs for the nine months ended August 31, 2017 and 2016 included $1.8 million and $.5 million, respectively, related to land sales during those periods.
[3]	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 Lan54

Inventory Impairments and Land Option Contract Abandonments (Narratives) (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Aug. 31, 2017USD ($)lotdeliveryproperty	Aug. 31, 2016USD ($)lotdeliveryproperty	Aug. 31, 2017USD ($)lotdeliveryproperty	Aug. 31, 2016USD ($)lotdeliveryproperty	Nov. 30, 2016USD ($)property
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate	$ 7,094,000	$ 2,579,000	$ 14,613,000	$ 13,855,000	$ 49,600,000
Number of Land Parcels or Communities Associated with Non Cash Inventory Impairment Charges | property			6
Number of land parcels or communities evaluated for recoverability | property			49	43
Carrying Value of Communities or Land Parcels Evaluated for Impairment	436,700,000	$ 350,000,000	$ 436,700,000	$ 350,000,000
Aggregate carrying value of inventory impacted by pretax, noncash inventory impairment charges	$ 209,100,000		$ 209,100,000		$ 215,300,000
Number of communities and various other land parcels impacted by pretax, noncash inventory impairment charges	26		26		28
Land Option Contract Abandonment Lots | lot	119	50	639	542
Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Estimate Input at Average Selling Price	$ 1,576,500	$ 486,000	$ 1,576,500	$ 486,000
Fair Value Estimate Input, Delivery For Period | delivery	4	3	4	4
Fair Value Inputs, Discount Rate	18.00%	17.00%	18.00%	20.00%
Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value Estimate Input at Average Selling Price	$ 207,100	$ 351,600	$ 207,100	$ 280,100
Fair Value Estimate Input, Delivery For Period | delivery	2	2	2	1
Fair Value Inputs, Discount Rate	17.00%	17.00%	17.00%	17.00%
Land Option Contract Abandonment [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Payments to Acquire Land	$ (1,019,000)	$ (473,000)	$ (3,509,000)	$ (2,903,000)
West Coast [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate	$ 4,992,000	$ 2,579,000	$ 8,136,000	$ 7,153,000
Number of Land Parcels or Communities Associated with Non Cash Inventory Impairment Charges | property	1	2	1	2
West Coast [Member] | Land Option Contract Abandonment [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Payments to Acquire Land	$ (903,000)	$ (270,000)	$ (2,738,000)	$ (691,000)
Central [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate	0	0	0	787,000
Central [Member] | Land Option Contract Abandonment [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Payments to Acquire Land	0	0	(518,000)	(460,000)
Southeast [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate	0	0	3,032,000	5,915,000
Southeast [Member] | Land Option Contract Abandonment [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Payments to Acquire Land	$ (116,000)	(61,000)	$ (253,000)	(1,499,000)
Land Held for Future Development [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate				$ 5,200,000
Number of Land Parcels or Communities Associated with Non Cash Inventory Impairment Charges | property	2		6
Land Held for Future Development [Member] | West Coast [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Number of Land Parcels or Communities Associated with Non Cash Inventory Impairment Charges | property				1
Land Held for Future Development [Member] | Southeast [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Number of Land Parcels or Communities Associated with Non Cash Inventory Impairment Charges | property				1
Metro Washington, D.C. [Member] | Southeast [Member] | Land Option Contract Abandonment [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Payments to Acquire Land		$ (1,438,000)		$ (1,400,000)
Metro Washington, D.C. [Member] | Land [Member] | Southeast [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Impairment of Real Estate				$ 5,400,000
Number of Land Parcels or Communities Associated with Non Cash Inventory Impairment Charges | property				2

Variable Interest Entities (Det

Variable Interest Entities (Details) $ in Thousands	Aug. 31, 2017USD ($)joint_venture	Nov. 30, 2016USD ($)joint_venture
Variable Interest Entity [Line Items]
Number of Investments in Unconsolidated Joint Ventures | joint_venture	7	7
Cash Deposits	$ 39,133	$ 42,829
Aggregate Purchase Price	980,184	1,073,596
Pre-acquisition costs related to land option contracts and other similar contracts	28,000	56,000
Letters of Credit Outstanding, Amount	33,000	31,000
Increase in inventories and accrued expenses and other liabilities	$ 28,500	$ 50,500
Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Number of Investments in Unconsolidated Joint Ventures | joint_venture	1	1
Cash Deposits	$ 18,318	$ 24,910
Aggregate Purchase Price	607,813	641,642
Non-VIE Other land option contracts and other similar contracts [Member]
Variable Interest Entity [Line Items]
Cash Deposits	20,815	17,919
Aggregate Purchase Price	$ 372,371	$ 431,954

Investments in Unconsolidated56

Investments in Unconsolidated Joint Ventures (Financial Information for Unconsolidated Joint Ventures) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016	Nov. 30, 2016
Statements of operations of unconsolidated joint venture
Revenues		$ 12,802	$ 19,338	$ 39,604	$ 41,190
Construction and land costs		(12,832)	(19,383)	(37,625)	(45,379)
Other expenses, net		(1,294)	(1,008)	(3,547)	(3,599)
Income (loss)		(1,324)	$ (1,053)	(1,568)	$ (7,788)
Assets
Cash		21,372		21,372		$ 31,928
Receivables		797		797		882
Inventories		145,299		145,299		165,385
Other Assets		2,270		2,270		629
Total assets		169,738		169,738		198,824
Liabilities and equity
Accounts payable and other liabilities		19,174		19,174		19,880
Equity Method Investments Summarized Financial Information Debt	[1]	25,618		25,618		44,381
Equity		124,946		124,946		134,563
Total liabilities and equity		$ 169,738		$ 169,738		$ 198,824
[1]	Two of our unconsolidated joint ventures have separate construction loan agreements with different third-party lenders to finance their respective land development activities. The outstanding debt under these agreements is secured by the corresponding underlying property and related project assets and is non-recourse to us. Of this outstanding secured debt at August 31, 2017, $24.8 million is scheduled to mature in August 2018 and the remainder is scheduled to mature in February 2020. At November 30, 2016, only one of these unconsolidated joint ventures had outstanding secured debt. None of our other unconsolidated joint ventures had any outstanding debt at August 31, 2017 or November 30, 2016.

Investments in Unconsolidated57

Investments in Unconsolidated Joint Ventures (Information for Investments in Unconsolidated Joint Ventures) (Details) $ in Thousands		9 Months Ended
		Aug. 31, 2017USD ($)lotjoint_venture	Nov. 30, 2016USD ($)lotjoint_venture
Schedule of Equity Method Investments [Line Items]
Number of Units in Real Estate Property | lot		90
Long-term Purchase, Commitment, Amount		$ 39,900
Number of investments in unconsolidated joint ventures | joint_venture		7	7
Long-term purchase commitment period		3 years
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		$ 64,513	$ 64,016
Number of Unconsolidated Joint Venture Lots Controlled Under Land Option Contracts | lot		388	471
Equity Method Investments Summarized Financial Information Debt	[1]	$ 25,618	$ 44,381
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months		$ 179,000
Investments in Unconsolidated Joint Ventures with Debt
Schedule of Equity Method Investments [Line Items]
Number of investments in unconsolidated joint ventures | joint_venture		2	1
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months		$ 24,800
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
[1]	Two of our unconsolidated joint ventures have separate construction loan agreements with different third-party lenders to finance their respective land development activities. The outstanding debt under these agreements is secured by the corresponding underlying property and related project assets and is non-recourse to us. Of this outstanding secured debt at August 31, 2017, $24.8 million is scheduled to mature in August 2018 and the remainder is scheduled to mature in February 2020. At November 30, 2016, only one of these unconsolidated joint ventures had outstanding secured debt. None of our other unconsolidated joint ventures had any outstanding debt at August 31, 2017 or November 30, 2016.

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Aug. 31, 2017	Nov. 30, 2016
Other Assets [Abstract]
Cash surrender value of corporate-owned life insurance contracts	$ 73,983	$ 70,829
Property and equipment, net	18,718	14,240
Prepaid expenses	7,150	4,894
Debt issuance costs associated with unsecured revolving credit facility	2,543	1,182
Total	$ 102,394	$ 91,145

Accrued Expenses and Other Li59

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands		Aug. 31, 2017	May 31, 2017	Nov. 30, 2016	Aug. 31, 2016	May 31, 2016	Nov. 30, 2015
Payables and Accruals [Abstract]
Employee compensation and related benefits		$ 128,838		$ 130,352
Inventory-related liabilities	[1]	54,681		82,682
Self-Insurance and Other Litigation Liabilities		202,690		170,988
Accrued interest payable		79,459		67,411
Warranty liability		63,811	$ 60,037	56,682	$ 52,124	$ 48,837	$ 49,085
Customer Advances and Deposits		19,511		18,175
Real estate and business taxes		14,622		14,370
Other		1,556		10,336
Total		$ 565,168		$ 550,996
[1]	Represents liabilities for financing arrangements discussed in Note 8 – Variable Interest Entities, as well as liabilities for fixed or determinable amounts associated with tax increment financing entity (“TIFE”) assessments. As homes are delivered, our 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 ($)		3 Months Ended		9 Months Ended
		Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016	Nov. 30, 2016
Income Tax Expense (Benefit), Continuing Operations [Abstract]
Income tax expense	[1]	$ (29,000,000)	$ (14,100,000)	$ (56,400,000)	$ (26,200,000)
Effective Income Tax Rate Reconciliation, Percent	[1]	36.60%	26.40%	36.90%	27.80%
Income Tax Credits and Adjustments		$ 2,600,000	$ 6,700,000	$ 3,800,000	$ 10,400,000
Unrecognized Tax Benefits		100,000		100,000		$ 100,000
Net (increase) reduction in valuation allowance		(200,000)
Valuation Allowances and Reserves, Additions for Adjustments				0
Valuation allowance		24,600,000		24,600,000		24,800,000
Income Tax Contingency [Line Items]
Deferred Tax Assets, Gross		707,700,000		707,700,000		$ 763,800,000
Minimum [Member]
Income Tax Contingency [Line Items]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit		0		0
Maximum [Member]
Income Tax Contingency [Line Items]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit		$ 100,000		$ 100,000
[1]	(a) Amounts reflect the favorable net impact of federal energy tax credits we earned from building energy-efficient homes through December 31, 2016. The net impact of these tax credits was $2.6 million and $6.7 million for the three months ended August 31, 2017 and 2016, respectively, and $3.8 million and $10.4 million for the nine months ended August 31, 2017 and 2016, respectively.

Notes Payable (Schedule Notes P

Notes Payable (Schedule Notes Payable) (Details) - USD ($) $ in Thousands	Aug. 31, 2017	Nov. 30, 2016
Debt Instrument [Line Items]
Mortgages and notes payable	$ 2,502,379	$ 2,640,149
Mortgages and Land Contracts Due to Land Sellers and Other Loans [Member]
Debt Instrument [Line Items]
Mortgages and notes payable	$ 24,142	$ 66,927
Senior Notes [Member] | Senior notes due September 15, 2017 at 9.10%
Debt Instrument [Line Items]
Senior notes, rate	9.10%	9.10%
Mortgages and notes payable	$ 164,963	$ 263,932
Senior Notes [Member] | Senior notes due June 15, 2018 at 7 1/4%
Debt Instrument [Line Items]
Senior notes, rate	7.25%	7.25%
Mortgages and notes payable	$ 299,811	$ 299,647
Senior Notes [Member] | Senior Notes Due Two Thousand Nineteen at Four Point Seven Five Percent [Member]
Debt Instrument [Line Items]
Senior notes, rate	4.75%	4.75%
Mortgages and notes payable	$ 398,134	$ 397,364
Senior Notes [Member] | Senior notes due March 15, 2020 at 8.00%
Debt Instrument [Line Items]
Senior notes, rate	8.00%	8.00%
Mortgages and notes payable	$ 345,869	$ 344,811
Senior Notes [Member] | Senior Notes due December 15, 2021 at 7.00%
Debt Instrument [Line Items]
Senior notes, rate	7.00%	7.00%
Mortgages and notes payable	$ 446,429	$ 445,911
Senior Notes [Member] | Senior notes due September 15, 2022 at 7.50%
Debt Instrument [Line Items]
Senior notes, rate	7.50%	7.50%
Mortgages and notes payable	$ 347,116	$ 346,774
Senior Notes [Member] | Senior Notes Due Two Thousand Twenty Three At Seven Point Six Two Five Percent [Domain]
Debt Instrument [Line Items]
Senior notes, rate	7.625%	7.625%
Mortgages and notes payable	$ 247,643	$ 247,404
Convertible Notes Payable [Member] | Convertible Senior Notes Due Two Thousand Nineteen At One Point Three Seven Five Percent [Member]
Debt Instrument [Line Items]
Senior notes, rate	1.375%	1.375%
Mortgages and notes payable	$ 228,272	$ 227,379

Notes Payable (Narratives) (Det

Notes Payable (Narratives) (Details)	Jan. 13, 2017USD ($)	Aug. 31, 2017USD ($)$ / sharesshares	Aug. 31, 2016shares	Aug. 31, 2017USD ($)$ / sharesshares	Aug. 31, 2016USD ($)shares	Jul. 27, 2017USD ($)	Jul. 26, 2017USD ($)	Nov. 30, 2016USD ($)
Debt Instrument [Line Items]
Debt Issuance Costs, Net		$ 16,800,000		$ 16,800,000				$ 21,800,000
Line of Credit Facility, Current Borrowing Capacity						$ 500,000,000	$ 275,000,000
Letters of credit outstanding		$ 33,000,000		$ 33,000,000				31,000,000
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities (in shares) | shares		8,402,000	8,402,000	8,402,000	8,402,000
Gain (Loss) on Extinguishment of Debt				$ (5,685,000)	$ 0
Notes and Loans Payable		$ 2,502,379,000		2,502,379,000				2,640,149,000
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months		179,000,000		179,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Two		310,100,000		310,100,000
Long-term Debt, Maturities, Repayments of Principal in Year Three		630,000,000		630,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Four		350,000,000		350,000,000
Long-term Debt, Maturities, Repayments of Principal in Year Five		0		0
Long-term Debt, Maturities, Repayments of Principal after Year Five		1,050,000,000		1,050,000,000
Inventories pledged to collateralize mortgages and land contracts, carrying value		$ 73,500,000		73,500,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Unsecured revolving credit facility, expiration date		Jul. 27, 2021
Unsecured revolving credit facility, maximum borrowing capacity		$ 600,000,000		600,000,000
Line of Credit Facility, Amount Outstanding		0		0
Unsecured revolving credit facility, remaining borrowing capacity		$ 467,000,000		467,000,000
Revolving Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage		0.30%
Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage		0.45%
Letter of Credit [Member]
Debt Instrument [Line Items]
Unsecured revolving credit facility, maximum borrowing capacity		$ 250,000,000		250,000,000
Line of Credit Facility, Amount Outstanding		33,000,000		33,000,000
Unsecured revolving credit facility, remaining borrowing capacity		217,000,000		217,000,000
LOC Facilities [Member]
Debt Instrument [Line Items]
Letters of credit outstanding		0		0				0
Mortgages and Land Contracts Due to Land Sellers and Other Loans [Member]
Debt Instrument [Line Items]
Notes and Loans Payable		$ 24,142,000		$ 24,142,000				$ 66,927,000
Convertible Notes Payable [Member] | Convertible Senior Notes Due Two Thousand Nineteen At One Point Three Seven Five Percent [Member]
Debt Instrument [Line Items]
Senior notes, rate		1.375%		1.375%				1.375%
Debt instrument, conversion ratio		0.0365297
Debt instrument, convertible, conversion price (in dollars per share) | $ / shares		$ 27.37		$ 27.37
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities (in shares) | shares		8,401,831
Notes and Loans Payable		$ 228,272,000		$ 228,272,000				$ 227,379,000
Senior Notes [Member] | Senior notes due June 15, 2018 at 7 1/4%
Debt Instrument [Line Items]
Senior notes, rate		7.25%		7.25%				7.25%
Notes and Loans Payable		$ 299,811,000		$ 299,811,000				$ 299,647,000
Senior Notes [Member] | Senior notes due September 15, 2017 at 9.10%
Debt Instrument [Line Items]
Senior notes, rate		9.10%		9.10%				9.10%
Notes and Loans Payable		$ 164,963,000		$ 164,963,000				$ 263,932,000
Senior Notes [Member] | Senior Notes Due Two Thousand Nineteen at Four Point Seven Five Percent [Member]
Debt Instrument [Line Items]
Senior notes, rate		4.75%		4.75%				4.75%
Notes and Loans Payable		$ 398,134,000		$ 398,134,000				$ 397,364,000
Senior Notes [Member] | Senior notes due March 15, 2020 at 8.00%
Debt Instrument [Line Items]
Senior notes, rate		8.00%		8.00%				8.00%
Notes and Loans Payable		$ 345,869,000		$ 345,869,000				$ 344,811,000
Senior Notes [Member] | Senior notes due September 15, 2022 at 7.50%
Debt Instrument [Line Items]
Senior notes, rate		7.50%		7.50%				7.50%
Notes and Loans Payable		$ 347,116,000		$ 347,116,000				$ 346,774,000
Senior Notes [Member] | Senior Notes Due Two Thousand Twenty Three At Seven Point Six Two Five Percent [Domain]
Debt Instrument [Line Items]
Senior notes, rate		7.625%		7.625%				7.625%
Notes and Loans Payable		$ 247,643,000		$ 247,643,000				$ 247,404,000
Senior Notes [Member] | Senior Notes Due Two Thousand Seventeen at Nine Point One Percent [Member]
Debt Instrument [Line Items]
Senior notes, rate		9.10%		9.10%
Extinguishment of Debt, Amount	$ 100,000,000
Debt Instrument Redemption Aggregate Price				$ 105,300,000
Notes and Loans Payable		$ 165,000,000		$ 165,000,000

Fair Value Disclosures (Assets

Fair Value Disclosures (Assets Measured at Fair Value on Nonrecurring Basis) (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands		Aug. 31, 2017	Nov. 30, 2016
Level 2
Assets measured at fair value on a nonrecurring basis
Assets, Fair Value Disclosure	[1]	$ 0	$ 3,657
Level 3
Assets measured at fair value on a nonrecurring basis
Assets, Fair Value Disclosure	[1]	$ 32,262	$ 37,329
[1]	Amounts represent the aggregate fair value for real estate assets impacted by inventory impairment charges during the applicable period as of the date 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 (Narrati

Fair Value Disclosures (Narratives) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016	Nov. 30, 2016
Fair Value Disclosures [Abstract]
Long-lived assets held and used, carrying value	$ 46,900		$ 46,900		$ 89,100
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of Real Estate	7,094	$ 2,579	14,613	$ 13,855	49,600
Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 32,300		$ 32,300		$ 39,500

Fair Value Disclosures (Fair Va

Fair Value Disclosures (Fair Value Hierarchy, Carrying Values, and Estimated Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands		Aug. 31, 2017	Nov. 30, 2016
Carrying Value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible Debt, Fair Value Disclosures	[1]	$ 228,272	$ 227,379
Carrying Value | Level 2 | Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value	[1]	2,249,965	2,345,843
Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, Fair Value Disclosure		32,300	39,500
Estimate of Fair Value, Fair Value Disclosure [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Convertible Debt, Fair Value Disclosures		237,475	223,675
Estimate of Fair Value, Fair Value Disclosure [Member] | Level 2 | Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated Fair Value		2,460,581	2,494,844
Fair Value, Measurements, Nonrecurring [Member] | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Assets, Fair Value Disclosure	[1]	$ 0	$ 3,657
[1]	Amounts represent the aggregate fair value for real estate assets impacted by inventory impairment charges during the applicable period as of the date 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.

Commitments and Contingencies66

Commitments and Contingencies (Narratives) (Details) $ in Thousands		3 Months Ended		9 Months Ended
		Aug. 31, 2017USD ($)	Aug. 31, 2016USD ($)	Aug. 31, 2017USD ($)Home	Aug. 31, 2016USD ($)	Nov. 30, 2016USD ($)
Loss Contingencies [Line Items]
Excess Insurance Recoveries		$ 23,500
Minimum warranty on electrical and other building systems (in years)				2 years
Maximum warranty on electrical and other building systems (in years)				5 years
Warranty for other components of a home (in years)				1 year
Payments		(6,267)	$ (4,719)	$ (18,836)	$ (17,186)
Adjustment to increase warranty liability		0	0	0	652
Performance bonds		557,500		557,500		$ 535,700
Letters of credit outstanding		33,000		33,000		31,000
Cash deposits		39,133		39,133		42,829
Aggregate purchase price of land		980,184		$ 980,184		1,073,596
Warranty for Other Components of Home				1 year
Loss Contingency, Estimated Recovery from Third Party				$ 11,600
Northern California Townhome Community [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value				$ 100,000
Damages from Product Defects [Member]
Loss Contingencies [Line Items]
Minimum Number of Affected Homes for Construction Defect Claims | Home				2
Structural warranty provided by the company (in years)				10 years
Warranty Obligations [Member]
Loss Contingencies [Line Items]
Structural warranty provided by the company (in years)				10 years
Self Insurance [Member]
Loss Contingencies [Line Items]
Increase (Decrease) in Insurance Liabilities	[1]	21,700	$ 0	$ 21,700	$ 0
Loss Contingency, Receivable		$ 75,000		$ 75,000		$ 84,500
[1]	b)Amounts for the three months and nine months ended August 31, 2017 reflect a change in estimate to increase our self-insurance liability based on a review of actual claim resolution experience, which indicated a higher frequency of claims and, to a lesser extent, a higher claim severity than previously anticipated. Based on these higher historical claim frequency and severity trends, we determined in the 2017 third quarter that future payments for claims relating to homes delivered in certain prior years were likely to exceed the then-estimated liabilities remaining for those claims. Therefore, we recorded an adjustment to increase our self-insurance liability based on an actuarially determined estimate that we believe has a higher probability of being adequate to cover future payments associated with unresolved claims, including claims incurred but not yet reported. This adjustment is included in selling, general and administrative expenses.

Commitments and Contingencies67

Commitments and Contingencies (Changes in the Warranty Liability) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016	May 31, 2017	Nov. 30, 2016	May 31, 2016	Nov. 30, 2015
Loss Contingencies [Line Items]
Self Insurance Reserve		$ 177,559	$ 164,844	$ 177,559	$ 164,844	$ 156,505	$ 158,584	$ 156,733	$ 173,011
Expenses Associated with Self Insurance	[1]	5,573	7,110	13,811	15,532
Payments, Net of Recoveries for Self Insurance		(2,291)	(4,517)	(7,051)	(19,952)
Changes in the Warranty Liability
Balance at beginning of period		60,037	48,837	56,682	49,085
Warranties issued		10,041	8,006	25,965	19,573
Payments		(6,267)	(4,719)	(18,836)	(17,186)
Adjustments		0	0	0	652
Balance at end of period		63,811	52,124	63,811	52,124
Self Insurance [Member]
Loss Contingencies [Line Items]
Loss Contingency, Receivable		75,000		75,000			84,500
Increase (Decrease) in Insurance Liabilities	[2]	21,700	0	21,700	0
Loss Contingency, Receivable, Period Increase (Decrease)	[3]	(3,901)	$ 5,518	(9,458)	$ (3,747)
Warranty and Other [Member]
Loss Contingencies [Line Items]
Loss Contingency, Receivable		$ 5,200		$ 5,200			$ 14,600
[1]	a)These expenses are included in selling, general and administrative expenses and are largely offset by contributions from subcontractors participating in the wrap-up policy.
[2]	b)Amounts for the three months and nine months ended August 31, 2017 reflect a change in estimate to increase our self-insurance liability based on a review of actual claim resolution experience, which indicated a higher frequency of claims and, to a lesser extent, a higher claim severity than previously anticipated. Based on these higher historical claim frequency and severity trends, we determined in the 2017 third quarter that future payments for claims relating to homes delivered in certain prior years were likely to exceed the then-estimated liabilities remaining for those claims. Therefore, we recorded an adjustment to increase our self-insurance liability based on an actuarially determined estimate that we believe has a higher probability of being adequate to cover future payments associated with unresolved claims, including claims incurred but not yet reported. This adjustment is included in selling, general and administrative expenses.
[3]	(c)Amount for each period represents the changes in the estimated probable insurance and other recoveries that were reclassified to receivables to present our self-insurance liability on a gross basis.

Legal Matters (Details)

Legal Matters (Details) $ in Millions	9 Months Ended
	Aug. 31, 2017USD ($)a
Nevada Development Contract Litigation
Loss Contingencies [Line Items]
Acres of purchased land by LVDA | a	83
San Diego Region (Basin Plan) [Domain]
Loss Contingencies [Line Items]
Litigation Settlement, Amount Awarded to Other Party	$ 0.3
Northern California Townhome Community [Member]
Loss Contingencies [Line Items]
Expected compensatory damages	$ 100

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			$ 1,723,145
Net income	$ 50,208	$ 39,363	96,249	$ 68,087
Dividends on common stock			$ (6,479)
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)			1,204,676
Stock Issued During Period, Value, Stock Options Exercised			$ 20,677
Stock Issued During Period, Value, Share-based Compensation, Gross			0
Stock-based compensation			9,893
Stock repurchases			(2,543)
Ending balance	$ 1,840,942		$ 1,840,942
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Shares, Outstanding (in shares)			(116,224,000)
Beginning balance			$ 116,224
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)			1,205,000
Stock Issued During Period, Value, Stock Options Exercised			$ 1,205
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures (in shares)			69,000
Stock Issued During Period, Value, Share-based Compensation, Gross			$ 69
Common Stock, Shares, Outstanding (in shares)	(117,498,000)		(117,498,000)
Ending balance	$ 117,498		$ 117,498
Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			696,938
Stock Issued During Period, Value, Stock Options Exercised			19,472
Stock Issued During Period, Value, Share-based Compensation, Gross			(3,767)
Stock-based compensation			9,893
Ending balance	722,536		722,536
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			1,563,742
Net income			96,249
Dividends on common stock			(6,479)
Ending balance	1,653,512		1,653,512
Accumulated Other Comprehensive Income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			(16,057)
Ending balance	$ (16,057)		$ (16,057)
Grantor Stock Ownership Trust
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Shares, Outstanding (in shares)			(9,432,000)
Beginning balance			$ (102,300)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures (in shares)			279,000
Stock Issued During Period, Value, Share-based Compensation, Gross			$ 3,021
Common Stock, Shares, Outstanding (in shares)	(9,153,000)		(9,153,000)
Ending balance	$ (99,279)		$ (99,279)
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Shares, Outstanding (in shares)			(21,720,000)
Beginning balance			$ (535,402)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures (in shares)			27,000
Stock Issued During Period, Value, Share-based Compensation, Gross			$ 677
Stock repurchases			$ (2,543)
Treasury Stock, Shares, Acquired (in shares)			(152,000)
Common Stock, Shares, Outstanding (in shares)	(21,845,000)		(21,845,000)
Ending balance	$ (537,268)		$ (537,268)

Stockholders' Equity (Narrative

Stockholders' Equity (Narratives) (Details) - USD ($) $ / shares in Units, $ in Thousands	Feb. 15, 2017	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016	Nov. 30, 2016
Debt Instrument [Line Items]
Common stock reserve (in shares)		12,602,735		12,602,735
Stock repurchases				$ 2,543	$ 87,531
Dividend paid in each quarter (in dollars per share)		$ 0.0250	$ 0.0250	$ 0.075	$ 0.0750
Cash dividends declared per common share (in dollars per share)		$ 0.0250	$ 0.0250	$ 0.075	$ 0.075
January 2016 Stock Repurchase Program [Member]
Debt Instrument [Line Items]
Number of common stock, authorized, approved under a board approved stock repurchase program (in shares)		1,627,000		1,627,000
Shares Withheld to Pay Taxes [Member]
Debt Instrument [Line Items]
Stock repurchases				$ 2,500
Treasury Stock, Shares, Acquired (in shares)				152,569
PSU 2013 [Domain] | Performance Shares [Member]
Debt Instrument [Line Items]
Common Stock, Shares, Issued (in shares)	278,460
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	125,460
Convertible Notes Payable [Member] | Convertible Senior Notes Due Two Thousand Nineteen At One Point Three Seven Five Percent [Member]
Debt Instrument [Line Items]
Senior notes, rate		1.375%		1.375%		1.375%

Stock-Based Compensation (Outst

Stock-Based Compensation (Outstanding and Exercisable Stock Options) (Details)	9 Months Ended
	Aug. 31, 2017$ / sharesshares
Options
Options outstanding at beginning of period, options (in shares) | shares	12,731,545
Granted, options (in shares) | shares	0
Exercised, options (in shares) | shares	(1,204,676)
Cancelled, options (in shares) | shares	(945,742)
Options outstanding at end of period, options (in shares) | shares	10,581,127
Options exercisable at end of period (in shares) | shares	8,556,885
Weighted Average Exercise Price in dollars per share
Options outstanding at beginning of period, weighted average exercise price (in dollars per share) | $ / shares	$ 18.95
Granted, weighted average exercise price (in dollars per share) | $ / shares	0
Exercised, weighted average exercise price (in dollars per share) | $ / shares	17.17
Cancelled, weighted average exercise price (in dollars per share) | $ / shares	28.51
Options outstanding at end of period, weighted average exercise price (in dollars per share) | $ / shares	18.30
Options exercisable at end of period (in dollars per share) | $ / shares	$ 18.98

Stock-Based Compensation (Narra

Stock-Based Compensation (Narratives) (Details) - USD ($) $ in Millions	Apr. 13, 2017	Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining contractual life of stock options outstanding (in years)				4 years 1 month 1 day
Weighted average remaining contractual life of stock options exercisable (in years)				3 years 30 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value		$ 63.5		$ 63.5
Intrinsic value of stock options exercisable		51.4		51.4
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, total		1.4		$ 1.4
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition				1 year 3 months
Stock-based compensation expense (income) associated with stock options, total		0.6	$ 0.9	$ 1.7	$ 2.9
Restricted Stock and Performance Unit Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense (income) associated with stock options, total		$ 2.3	$ 1.8	$ 8.1	$ 7.3
Non-Employee Directors Compensation Plan [Member]
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, Vested in Period (in shares)	22,994
Non-Employee Director Stock Units [Domain]
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, Grants in Period (in shares)	43,499

Supplemental Disclosure to Co73

Supplemental Disclosure to Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	9 Months Ended
	Aug. 31, 2017	Aug. 31, 2016	Nov. 30, 2016	Nov. 30, 2015
Summary of cash and cash equivalents at end of period:
Cash and cash equivalents	$ 494,807	$ 337,722	$ 593,000	$ 560,341
Interest Paid	(17,111)	(13,512)
Supplemental disclosures of cash flow information:
Income taxes paid	3,464	3,208
Supplemental disclosures of noncash activities:
Increase (decrease) in consolidated inventories not owned	(22,018)	(59,144)
Cost of inventories acquired through seller financing	49,658	89,968
Homebuilding
Summary of cash and cash equivalents at end of period:
Cash and cash equivalents	494,053	334,669	592,086
Financial Services
Summary of cash and cash equivalents at end of period:
Cash and cash equivalents	754	3,053	$ 914
Inspirada Builders LLC [Member]
Supplemental disclosures of noncash activities:
Increase in inventories due to distribution of land from unconsolidated joint venture	5,198	4,331
Warranty Reserves [Member]
Supplemental disclosures of cash flow information:
Loss Contingency, Receivable, Period Increase (Decrease)	$ 0	$ 2,151

Supplemental Guarantor Inform74

Supplemental Guarantor Information (Narrative) (Details)	9 Months Ended
	Aug. 31, 2017
Guarantees [Abstract]
Ownership share in guarantor subsidiaries (percent)	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 Inform75

Supplemental Guarantor Information (Condensed Consolidated Statements of Operations) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Aug. 31, 2017	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016
Condensed Consolidated Statements of Operations
Revenues		$ 1,144,001	$ 913,283	$ 2,965,391	$ 2,402,704
Homebuilding:
Revenues		1,140,787	910,111	2,957,105	2,394,315
Construction and land costs		(955,001)	(760,490)	(2,499,677)	(2,018,022)
Selling, general and administrative expenses		(109,095)	(98,144)	(305,901)	(279,886)
Operating income (loss)		76,691	51,477	151,527	96,407
Interest income		347	109	747	395
Interest expense	[1]	0	0	(6,307)	(5,667)
Intercompany Interest Income (Expense)		0	0	0	0
Equity in income (loss) of unconsolidated joint ventures				921	(2,616)
Total pretax income (loss)		79,208	53,463	152,649	94,287
Income tax expense	[2]	(29,000)	(14,100)	(56,400)	(26,200)
Income (Loss) from Subsidiaries, Net of Tax		0	0	0	0
Net income		50,208	39,363	96,249	68,087
KB Home Corporate
Condensed Consolidated Statements of Operations
Revenues		0	0	0	0
Homebuilding:
Revenues		0	0	0	0
Construction and land costs		0	0	0	0
Selling, general and administrative expenses		(23,220)	(23,436)	(68,809)	(66,752)
Operating income (loss)		(23,220)	(23,436)	(68,809)	(66,752)
Interest income		345	96	740	336
Interest expense		(41,746)	(46,485)	(131,788)	(135,192)
Intercompany Interest Income (Expense)		77,367	78,834	226,470	228,596
Total pretax income (loss)		12,746	9,009	26,613	26,988
Income tax expense		(3,700)	(1,600)	(4,900)	(3,700)
Income (Loss) from Subsidiaries, Net of Tax		41,162	31,954	74,536	44,799
Net income		50,208	39,363	96,249	68,087
Guarantor Subsidiaries
Condensed Consolidated Statements of Operations
Revenues		1,048,045	801,832	2,671,533	2,103,943
Homebuilding:
Revenues		1,048,045	801,832	2,671,533	2,103,943
Construction and land costs		(871,350)	(664,224)	(2,240,974)	(1,751,995)
Selling, general and administrative expenses		(72,686)	(64,541)	(206,513)	(182,015)
Operating income (loss)		104,009	73,067	224,046	169,933
Interest income		2	11	5	53
Interest expense		(434)	0	(1,428)	(1,641)
Intercompany Interest Income (Expense)		(31,059)	(27,997)	(87,524)	(82,984)
Total pretax income (loss)		71,704	44,545	134,421	83,400
Income tax expense		(26,200)	(12,300)	(52,300)	(24,600)
Income (Loss) from Subsidiaries, Net of Tax		0	0	0	0
Net income		45,504	32,245	82,121	58,800
Non-Guarantor Subsidiaries
Condensed Consolidated Statements of Operations
Revenues		95,956	111,451	293,858	298,761
Homebuilding:
Revenues		92,742	108,279	285,572	290,372
Construction and land costs		(83,651)	(96,266)	(258,703)	(266,027)
Selling, general and administrative expenses		(13,189)	(10,167)	(30,579)	(31,119)
Operating income (loss)		(4,098)	1,846	(3,710)	(6,774)
Interest income		0	2	2	6
Interest expense		(1,254)	0	(3,641)	(2,161)
Intercompany Interest Income (Expense)		(2,874)	(4,352)	(8,396)	(12,285)
Total pretax income (loss)		(5,242)	(91)	(8,385)	(16,101)
Income tax expense		900	(200)	800	2,100
Income (Loss) from Subsidiaries, Net of Tax		0	0	0	0
Net income		(4,342)	(291)	(7,585)	(14,001)
Homebuilding [Member]
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures		(814)	(536)	(679)	(1,964)
Total pretax income (loss)		76,224	51,050	145,288	89,171
Homebuilding [Member] | KB Home Corporate
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures		0	0	0	0
Total pretax income (loss)		12,746	9,009	26,613	26,988
Homebuilding [Member] | Guarantor Subsidiaries
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures		(814)	(536)	(678)	(1,961)
Total pretax income (loss)		71,704	44,545	134,421	83,400
Homebuilding [Member] | Non-Guarantor Subsidiaries
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures		0	0	(1)	(3)
Total pretax income (loss)		(8,226)	(2,504)	(15,746)	(21,217)
Financial services [Member]
Homebuilding:
Operating income (loss)		2,324	2,281	5,761	5,768
Equity in income (loss) of unconsolidated joint ventures		660	132	1,600	(652)
Total pretax income (loss)		2,984	2,413	7,361	5,116
Financial services [Member] | KB Home Corporate
Homebuilding:
Total pretax income (loss)		0	0	0	0
Financial services [Member] | Guarantor Subsidiaries
Homebuilding:
Total pretax income (loss)		0	0	0	0
Financial services [Member] | Non-Guarantor Subsidiaries
Homebuilding:
Total pretax income (loss)		2,984	2,413	7,361	5,116
Consolidating Adjustments
Condensed Consolidated Statements of Operations
Revenues		0	0	0	0
Homebuilding:
Revenues		0	0	0	0
Construction and land costs		0	0	0	0
Selling, general and administrative expenses		0	0	0	0
Operating income (loss)		0	0	0	0
Interest income		0	0	0	0
Interest expense		43,434	46,485	130,550	133,327
Intercompany Interest Income (Expense)		(43,434)	(46,485)	(130,550)	(133,327)
Total pretax income (loss)		0	0	0	0
Income tax expense		0	0	0	0
Income (Loss) from Subsidiaries, Net of Tax		(41,162)	(31,954)	(74,536)	(44,799)
Net income		(41,162)	(31,954)	(74,536)	(44,799)
Consolidating Adjustments | Homebuilding [Member]
Homebuilding:
Equity in income (loss) of unconsolidated joint ventures		0	0	0	0
Total pretax income (loss)		0	0	0	0
Consolidating Adjustments | Financial services [Member]
Homebuilding:
Total pretax income (loss)		$ 0	$ 0	$ 0	$ 0
[1]	Interest incurred and interest expensed for the nine months ended August 31, 2017 included a charge of $5.7 million for the early extinguishment of debt
[2]	(a) Amounts reflect the favorable net impact of federal energy tax credits we earned from building energy-efficient homes through December 31, 2016. The net impact of these tax credits was $2.6 million and $6.7 million for the three months ended August 31, 2017 and 2016, respectively, and $3.8 million and $10.4 million for the nine months ended August 31, 2017 and 2016, respectively.

Supplemental Guarantor Inform76

Supplemental Guarantor Information (Condensed Consolidated Balance Sheets) (Details) - USD ($) $ in Thousands		Aug. 31, 2017	Nov. 30, 2016	Aug. 31, 2016	Nov. 30, 2015
Assets
Cash and Cash Equivalents, at Carrying Value		$ 494,807	$ 593,000	$ 337,722	$ 560,341
Receivables		229,033	231,665
Inventory, Operative Builders		3,513,794	3,403,228
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		64,513	64,016
Deferred tax assets, net		683,085	738,985
Other assets		102,394	91,145
Investments in and Advances to Affiliates, Amount of Equity		0	0
Total assets		5,099,559	5,131,624
Due from Affiliates		0	0
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities		754,703	766,327
Mortgages and notes payable		2,502,379	2,640,149
Financial services		1,535	2,003
Due to Affiliate		0	0
Stockholders' equity		1,840,942	1,723,145
Total liabilities and stockholders’ equity		5,099,559	5,131,624
KB Home Corporate
Assets
Cash and Cash Equivalents, at Carrying Value		400,956	463,100	272,694	444,850
Receivables		4,939	4,807
Inventory, Operative Builders		0	0
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		0	0
Deferred tax assets, net		271,967	276,737
Other assets		91,420	79,526
Investments in and Advances to Affiliates, Amount of Equity		108,984	35,965
Total assets		4,484,795	4,419,147
Due from Affiliates		3,606,529	3,559,012
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities		169,661	131,530
Mortgages and notes payable		2,453,127	2,548,112
Financial services		0	0
Due to Affiliate		21,065	16,360
Stockholders' equity		1,840,942	1,723,145
Total liabilities and stockholders’ equity		4,484,795	4,419,147
Guarantor Subsidiaries
Assets
Cash and Cash Equivalents, at Carrying Value		82,622	100,439	57,955	96,741
Receivables		144,447	135,915
Inventory, Operative Builders		3,167,657	3,048,132
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		62,011	61,517
Deferred tax assets, net		265,640	318,077
Other assets		8,384	9,177
Investments in and Advances to Affiliates, Amount of Equity		0	0
Total assets		3,730,761	3,673,257
Due from Affiliates		0	0
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities		365,102	397,605
Mortgages and notes payable		23,222	66,927
Financial services		0	0
Due to Affiliate		3,270,731	3,208,725
Stockholders' equity		71,706	0
Total liabilities and stockholders’ equity		3,730,761	3,673,257
Non-Guarantor Subsidiaries
Assets
Cash and Cash Equivalents, at Carrying Value		11,229	29,461	7,073	18,750
Receivables		79,647	90,943
Inventory, Operative Builders		346,137	355,096
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures		2,502	2,499
Deferred tax assets, net		145,478	144,171
Other assets		2,590	2,442
Investments in and Advances to Affiliates, Amount of Equity		0	0
Total assets		701,851	731,259
Due from Affiliates		102,335	97,062
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities		219,940	237,192
Mortgages and notes payable		26,030	25,110
Financial services		1,535	2,003
Due to Affiliate		417,068	430,989
Stockholders' equity		37,278	35,965
Total liabilities and stockholders’ equity		701,851	731,259
Homebuilding [Member]
Assets
Cash and Cash Equivalents, at Carrying Value		494,053	592,086	334,669
Total assets		5,086,872	5,121,125
Liabilities and stockholders' equity
Total Liabilities Homebuilding		3,257,082	3,406,476
Homebuilding [Member] | KB Home Corporate
Assets
Cash and Cash Equivalents, at Carrying Value		400,956	463,100
Total assets		769,282	824,170
Liabilities and stockholders' equity
Total Liabilities Homebuilding		2,622,788	2,679,642
Homebuilding [Member] | Guarantor Subsidiaries
Assets
Cash and Cash Equivalents, at Carrying Value		82,622	100,439
Total assets		3,730,761	3,673,257
Liabilities and stockholders' equity
Total Liabilities Homebuilding		388,324	464,532
Homebuilding [Member] | Non-Guarantor Subsidiaries
Assets
Cash and Cash Equivalents, at Carrying Value		10,475	28,547
Total assets		586,829	623,698
Liabilities and stockholders' equity
Total Liabilities Homebuilding		245,970	262,302
Financial services [Member]
Assets
Cash and Cash Equivalents, at Carrying Value		754	914	3,053
Receivables		2,224	1,764
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	[1]	9,631	7,771
Other assets		78	50
Total assets		12,687	10,499
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities		1,535	2,003
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		12,687	10,499
Consolidating Adjustments
Assets
Cash and Cash Equivalents, at Carrying Value		0	0	$ 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 and Advances to Affiliates, Amount of Equity		(108,984)	(35,965)
Total assets		(3,817,848)	(3,692,039)
Due from Affiliates		(3,708,864)	(3,656,074)
Liabilities and stockholders' equity
Accounts payable, accrued expenses and other liabilities		0	0
Mortgages and notes payable		0	0
Financial services		0	0
Due to Affiliate		(3,708,864)	(3,656,074)
Stockholders' equity		(108,984)	(35,965)
Total liabilities and stockholders’ equity		(3,817,848)	(3,692,039)
Consolidating Adjustments | Homebuilding [Member]
Assets
Cash and Cash Equivalents, at Carrying Value		0	0
Total assets		0	0
Liabilities and stockholders' equity
Total Liabilities Homebuilding		0	0
Consolidating Adjustments | Financial services [Member]
Assets
Total assets		$ 0	$ 0
[1]	Our investments in unconsolidated joint ventures as of August 31, 2017 included a $5.3 million capital contribution we made to KBHS in the 2017 first quarter, and a $5.0 million distribution we received from HCM in the 2017 second quarter.

Supplemental Guarantor Inform77

Supplemental Guarantor Information (Condensed Consolidated Statements of Cash Flows) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Aug. 31, 2016	Aug. 31, 2017	Aug. 31, 2016
Cash flows from operating activities:
Net cash used in operating activities		$ 103,270	$ (102,612)
Cash flows from investing activities:
Contributions to unconsolidated joint ventures		(15,154)	(1,000)
Proceeds from Equity Method Investment, Distribution, Return of Capital		8,159	3,495
Purchases of property and equipment, net		(6,643)	(2,680)
Intercompany		0	0
Net cash used in investing activities		(13,638)	(185)
Cash flows from financing activities:
Change in restricted cash		0	(8,742)
Repayment of senior notes		(105,326)	0
Payments of Debt Issuance Costs		(1,711)	0
Payments on mortgages and land contracts due to land sellers and other loans		(92,443)	(41,913)
Issuance of common stock under employee stock plans		20,677	7,351
Payments of cash dividends		(6,479)	(6,471)
Stock repurchases		(2,543)	(87,531)
Intercompany		0	0
Net cash used in financing activities		(187,825)	(119,822)
Net decrease in cash and cash equivalents		(98,193)	(222,619)
Cash and cash equivalents at beginning of period		593,000	560,341
Cash and cash equivalents at end of period	$ 337,722	494,807	337,722
KB Home Corporate
Cash flows from operating activities:
Net cash used in operating activities		82,480	49,705
Cash flows from investing activities:
Contributions to unconsolidated joint ventures		0	0
Proceeds from Equity Method Investment, Distribution, Return of Capital		0	0
Purchases of property and equipment, net		(5,875)	(2,066)
Intercompany		(43,367)	(141,886)
Net cash used in investing activities		(49,242)	(143,952)
Cash flows from financing activities:
Change in restricted cash			(8,742)
Repayment of senior notes		(105,326)
Payments of Debt Issuance Costs		(1,711)
Payments on mortgages and land contracts due to land sellers and other loans		0	0
Issuance of common stock under employee stock plans		20,677	7,351
Payments of cash dividends		(6,479)	(6,471)
Stock repurchases		(2,543)	(87,531)
Intercompany		0	0
Net cash used in financing activities		(95,382)	(77,909)
Net decrease in cash and cash equivalents		(62,144)	(172,156)
Cash and cash equivalents at beginning of period		463,100	444,850
Cash and cash equivalents at end of period	272,694	400,956	272,694
Guarantor Subsidiaries
Cash flows from operating activities:
Net cash used in operating activities		30,480	(205,084)
Cash flows from investing activities:
Contributions to unconsolidated joint ventures		(9,899)	(1,000)
Proceeds from Equity Method Investment, Distribution, Return of Capital		3,169	3,495
Purchases of property and equipment, net		(719)	(452)
Intercompany		0	0
Net cash used in investing activities		(7,449)	2,043
Cash flows from financing activities:
Change in restricted cash			0
Repayment of senior notes		0
Payments of Debt Issuance Costs		0
Payments on mortgages and land contracts due to land sellers and other loans		(92,443)	(41,913)
Issuance of common stock under employee stock plans	0	0
Payments of cash dividends		0	0
Stock repurchases		0	0
Intercompany		51,595	206,168
Net cash used in financing activities		(40,848)	164,255
Net decrease in cash and cash equivalents		(17,817)	(38,786)
Cash and cash equivalents at beginning of period		100,439	96,741
Cash and cash equivalents at end of period	57,955	82,622	57,955
Non-Guarantor Subsidiaries
Cash flows from operating activities:
Net cash used in operating activities		(9,690)	52,767
Cash flows from investing activities:
Contributions to unconsolidated joint ventures		(5,255)	0
Proceeds from Equity Method Investment, Distribution, Return of Capital		4,990	0
Purchases of property and equipment, net		(49)	(162)
Intercompany		0	0
Net cash used in investing activities		(314)	(162)
Cash flows from financing activities:
Change in restricted cash			0
Repayment of senior notes		0
Payments of Debt Issuance Costs		0
Payments on mortgages and land contracts due to land sellers and other loans		0	0
Issuance of common stock under employee stock plans	0	0
Payments of cash dividends		0	0
Stock repurchases		0	0
Intercompany		(8,228)	(64,282)
Net cash used in financing activities		(8,228)	(64,282)
Net decrease in cash and cash equivalents		(18,232)	(11,677)
Cash and cash equivalents at beginning of period		29,461	18,750
Cash and cash equivalents at end of period	7,073	11,229	7,073
Consolidating Adjustments
Cash flows from operating activities:
Net cash used in operating activities		0	0
Cash flows from investing activities:
Contributions to unconsolidated joint ventures		0	0
Proceeds from Equity Method Investment, Distribution, Return of Capital		0	0
Purchases of property and equipment, net		0	0
Intercompany		43,367	141,886
Net cash used in investing activities		43,367	141,886
Cash flows from financing activities:
Change in restricted cash			0
Repayment of senior notes		0
Payments of Debt Issuance Costs		0
Payments on mortgages and land contracts due to land sellers and other loans		0	0
Issuance of common stock under employee stock plans	0	0
Payments of cash dividends		0	0
Stock repurchases		0	0
Intercompany		(43,367)	(141,886)
Net cash used in financing activities		(43,367)	(141,886)
Net decrease in cash and cash equivalents		0	0
Cash and cash equivalents at beginning of period		0	0
Cash and cash equivalents at end of period	$ 0	$ 0	$ 0

Subsequent Event (Details)

Subsequent Event (Details) - USD ($) $ in Thousands	Sep. 15, 2017	Aug. 31, 2017	Aug. 31, 2016	Nov. 30, 2016
Subsequent Event [Line Items]
Notes and Loans Payable		$ 105,326	$ 0
Senior notes due September 15, 2017 at 9.10% | Senior Notes [Member]
Subsequent Event [Line Items]
Senior notes, rate		9.10%		9.10%
Senior notes due September 15, 2017 at 9.10% | Senior Notes [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Notes and Loans Payable	$ 165,000