XML 1078 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Nov. 30, 2014
Nov. 30, 2013
Nov. 30, 2012
Cash flows from operating activities:      
Net income (loss) $ 918,349us-gaap_NetIncomeLoss $ 39,963us-gaap_NetIncomeLoss $ (58,953)us-gaap_NetIncomeLoss
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Equity in (income) loss/(gain) on wind down of unconsolidated joint ventures (1,427)us-gaap_IncomeLossFromEquityMethodInvestments 933us-gaap_IncomeLossFromEquityMethodInvestments (1,797)us-gaap_IncomeLossFromEquityMethodInvestments
Distributions of earnings from unconsolidated joint ventures 364us-gaap_EquityMethodInvestmentDividendsOrDistributions 1,949us-gaap_EquityMethodInvestmentDividendsOrDistributions 3,316us-gaap_EquityMethodInvestmentDividendsOrDistributions
Amortization of discounts and issuance costs 7,124us-gaap_AmortizationOfFinancingCostsAndDiscounts 5,347us-gaap_AmortizationOfFinancingCostsAndDiscounts 3,016us-gaap_AmortizationOfFinancingCostsAndDiscounts
Depreciation and amortization 2,420us-gaap_DepreciationAndAmortization 1,857us-gaap_DepreciationAndAmortization 1,622us-gaap_DepreciationAndAmortization
Deferred income taxes (825,232)us-gaap_IncreaseDecreaseInDeferredIncomeTaxes 0us-gaap_IncreaseDecreaseInDeferredIncomeTaxes 1,152us-gaap_IncreaseDecreaseInDeferredIncomeTaxes
Loss on early extinguishment of debt 0us-gaap_GainsLossesOnExtinguishmentOfDebt 10,448us-gaap_GainsLossesOnExtinguishmentOfDebt 10,278us-gaap_GainsLossesOnExtinguishmentOfDebt
Stock-based compensation 9,099us-gaap_ShareBasedCompensation 5,699us-gaap_ShareBasedCompensation 6,713us-gaap_ShareBasedCompensation
Inventory impairments and land option contract abandonments 39,431kbh_InventoryImpairmentsAndLandOptionContractAbandonments 3,581kbh_InventoryImpairmentsAndLandOptionContractAbandonments 28,533kbh_InventoryImpairmentsAndLandOptionContractAbandonments
Changes in assets and liabilities:      
Receivables (31,283)us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable (11,153)us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable 24,994us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable
Inventories (780,131)us-gaap_IncreaseDecreaseInInventories (563,189)us-gaap_IncreaseDecreaseInInventories 30,347us-gaap_IncreaseDecreaseInInventories
Accounts payable, accrued expenses and other liabilities 35,504us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 59,763us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (2,143)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Other, net (4,909)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet 1,316us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet (12,461)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet
Net cash provided by (used in) operating activities (630,691)us-gaap_NetCashProvidedByUsedInOperatingActivities (443,486)us-gaap_NetCashProvidedByUsedInOperatingActivities 34,617us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:      
Return of investments in (contributions to) unconsolidated joint ventures (49,097)us-gaap_PaymentsToAcquireInterestInJointVenture (14,359)us-gaap_PaymentsToAcquireInterestInJointVenture 989us-gaap_PaymentsToAcquireInterestInJointVenture
Proceeds from sale of investment in unconsolidated joint venture 10,110us-gaap_ProceedsFromSaleOfEquityMethodInvestments 0us-gaap_ProceedsFromSaleOfEquityMethodInvestments 0us-gaap_ProceedsFromSaleOfEquityMethodInvestments
Purchases of property and equipment, net (5,795)us-gaap_PaymentsForProceedsFromProductiveAssets (2,391)us-gaap_PaymentsForProceedsFromProductiveAssets (1,749)us-gaap_PaymentsForProceedsFromProductiveAssets
Net cash used in investing activities (44,782)us-gaap_NetCashProvidedByUsedInInvestingActivities (16,750)us-gaap_NetCashProvidedByUsedInInvestingActivities (760)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:      
Change in restricted cash 14,671us-gaap_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities 456us-gaap_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities 22,119us-gaap_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
Proceeds from issuance of debt 400,000us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt 680,000us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt 694,831us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt
Payment of debt issuance costs (5,448)us-gaap_PaymentsOfDebtIssuanceCosts (16,525)us-gaap_PaymentsOfDebtIssuanceCosts (12,445)us-gaap_PaymentsOfDebtIssuanceCosts
Repayment of senior notes 0us-gaap_RepaymentsOfLongTermDebt (225,394)us-gaap_RepaymentsOfLongTermDebt (592,645)us-gaap_RepaymentsOfLongTermDebt
Payments on mortgages and land contracts due to land sellers and other loans (36,918)us-gaap_ProceedsFromRepaymentsOfSecuredDebt (66,296)us-gaap_ProceedsFromRepaymentsOfSecuredDebt (26,298)us-gaap_ProceedsFromRepaymentsOfSecuredDebt
Proceeds from issuance of common stock, net 137,045us-gaap_ProceedsFromIssuanceOrSaleOfEquity 109,503us-gaap_ProceedsFromIssuanceOrSaleOfEquity 0us-gaap_ProceedsFromIssuanceOrSaleOfEquity
Issuance of common stock under employee stock plans 1,896us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions 2,181us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions 593us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
Payments of cash dividends (8,982)us-gaap_PaymentsOfDividendsCommonStock (8,366)us-gaap_PaymentsOfDividendsCommonStock (10,599)us-gaap_PaymentsOfDividendsCommonStock
Stock repurchases (546)us-gaap_PaymentsForRepurchaseOfCommonStock (8,488)us-gaap_PaymentsForRepurchaseOfCommonStock (1,799)us-gaap_PaymentsForRepurchaseOfCommonStock
Net cash provided by financing activities 501,718us-gaap_NetCashProvidedByUsedInFinancingActivities 467,071us-gaap_NetCashProvidedByUsedInFinancingActivities 73,757us-gaap_NetCashProvidedByUsedInFinancingActivities
Net increase (decrease) in cash and cash equivalents (173,755)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 6,835us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 107,614us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at beginning of year 532,523us-gaap_CashAndCashEquivalentsAtCarryingValue 525,688us-gaap_CashAndCashEquivalentsAtCarryingValue 418,074us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents at end of year $ 358,768us-gaap_CashAndCashEquivalentsAtCarryingValue $ 532,523us-gaap_CashAndCashEquivalentsAtCarryingValue $ 525,688us-gaap_CashAndCashEquivalentsAtCarryingValue