0000795266false00007952662024-06-182024-06-180000795266us-gaap:CommonStockMember2024-06-182024-06-180000795266us-gaap:RightsMember2024-06-182024-06-18

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K 
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report: June 18, 2024
(Date of earliest event reported) 
KB HOME
(Exact name of registrant as specified in its charter)
Delaware1-919595-3666267
(State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)
10990 Wilshire Boulevard
Los Angeles, California 90024
(Address of principal executive offices) (Zip Code) 
Registrant’s telephone number, including area code: (310) 231-4000
Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange
on which registered
Common Stock (par value $1.00 per share)
KBH
New York Stock Exchange
Rights to Purchase Series A Participating Cumulative Preferred Stock
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐


Item 2.02 Results of Operations and Financial Condition.
On June 18, 2024, KB Home issued a press release announcing its results of operations for the three months and six months ended May 31, 2024. A copy of the press release is furnished as Exhibit 99.1 to this report and is incorporated herein.
The information in this report, including Exhibit 99.1 attached hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
104    Cover Page Interactive Data File (embedded within the Inline XBRL document).

2

EXHIBIT INDEX
Exhibit No.  Description
99.1
104Cover Page Interactive Data File (embedded within the Inline XBRL document).

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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: June 18, 2024
 
KB Home
By:
/s/ Jeff J. Kaminski
Jeff J. Kaminski
Executive Vice President and Chief Financial Officer
 

4
Exhibit 99.1




headera08a.jpg
FOR RELEASE, Tuesday, June 18, 2024  
For Further Information:
1:10 p.m. Pacific Time  Jill Peters, Investor Relations Contact
  (310) 893-7456 or jpeters@kbhome.com
  Cara Kane, Media Contact
  (321) 299-6844 or ckane@kbhome.com

KB HOME REPORTS 2024 SECOND QUARTER RESULTS
Revenues Totaled $1.71 Billion; Diluted Earnings Per Share Increased 11% to $2.15
Net Orders Up 2% to 3,997; Net Order Value Expanded 7% to $2.03 Billion
LOS ANGELES (June 18, 2024) — KB Home (NYSE: KBH) today reported results for its second quarter ended May 31, 2024.
“We produced solid results in our 2024 second quarter, with our key metrics above the high end of our guidance ranges,” said Jeffrey Mezger, Chairman and Chief Executive Officer. “Buyers remained resilient in their desire for homeownership despite the volatility in mortgage interest rates. Our pace of monthly net orders per community was one of our highest second quarter levels in many years, which we believe reflected the compelling personalized choice that our Built to Order model offers to meet each buyer’s lifestyle and budget.”
“Our business is generating substantial cash flows, and we are continuing our balanced approach in allocating this capital, focused on both expanding our scale and returning cash to our stockholders. In the 2024 second quarter, we significantly increased our investment in land acquisition and development, repurchased additional shares and raised our quarterly dividend. With a healthy expansion in our owned and controlled lot count, as well as our planned community openings, we are confident we are well positioned for future growth,” concluded Mezger.
Three Months Ended May 31, 2024 (comparisons on a year-over-year basis)
•Revenues totaled $1.71 billion, compared to $1.77 billion.
•Homes delivered were 3,523, compared to 3,666.
•Average selling price increased to $483,000, up from $479,500.
•Homebuilding operating income totaled $188.2 million, compared to $202.1 million. The homebuilding operating income margin was 11.1%, compared to 11.5%. Excluding total inventory-related charges of $1.2 million for the current quarter and $4.3 million for the year-earlier quarter, the homebuilding operating income margin was 11.1%, compared to 11.7%.
◦The housing gross profit margin of 21.1% was even with the year-earlier quarter. Excluding the above-mentioned inventory-related charges, the housing gross profit margin was 21.2%, compared to 21.4%.
◦Selling, general and administrative expenses as a percentage of housing revenues were 10.1%, compared to 9.6%, mainly reflecting higher costs including marketing and other expenses associated with the Company’s planned increase in its community count during the year to position its operations for growth.
•Financial services pretax income rose 16% to $13.3 million, partly due to increased equity in income of the Company’s mortgage banking joint venture. This was largely driven by a higher volume of both interest rate locks and loan originations, as 86% of the buyers financing their home purchases in the current quarter used the joint venture, up from 80%.


•Total pretax income, which included a $12.5 million gain associated with the sale of a privately held technology company in which the Company held an ownership interest, increased to $221.1 million, compared to $214.9 million.
•Net income rose 2% to $168.4 million. Diluted earnings per share grew 11% to $2.15, reflecting the higher net income and the favorable impact of the Company’s common stock repurchases over the past several quarters.
◦The effective tax rate was 23.8%, compared to 23.5%.
Six Months Ended May 31, 2024 (comparisons on a year-over-year basis)
•Revenues totaled $3.18 billion, compared to $3.15 billion.
•Homes delivered of 6,560 were up 2%.
•Average selling price was $481,700, compared to $486,000.
•Net income increased 6% to $307.1 million.
•Diluted earnings per share were up 16% to $3.91.
Backlog and Net Orders (comparisons on a year-over-year basis, except as noted)
•Net orders for the quarter increased 2% to 3,997. Net order value rose 7% to $2.03 billion, reflecting the growth in net orders and a higher average selling price of those orders.
◦Monthly net orders per community increased to 5.5 from 5.2.
◦The cancellation rate as a percentage of gross orders improved to 13%, compared to 22%.
•The Company’s ending backlog homes of 6,270 and ending backlog value of $3.12 billion were down 14% and 10%, respectively. The year-over-year decreases narrowed for the fourth consecutive quarter.
•The Company’s average community count for the quarter was down 4% to 243, and ending community count was essentially flat at 247. On a sequential basis, the ending community count expanded 4%.
Balance Sheet as of May 31, 2024 (comparisons to November 30, 2023, except as noted)
•The Company had total liquidity of $1.73 billion, including $643.5 million of cash and cash equivalents and $1.08 billion of available capacity under its unsecured revolving credit facility, with no cash borrowings outstanding.
•Inventories totaled $5.34 billion, up 4%.
◦The Company’s investments in land and land development for the six months ended May 31, 2024 increased 64% to $1.26 billion, compared to $763.2 million for the year-earlier period.
◦The Company’s lots owned or under contract grew 17% to 65,533, of which approximately 61% were owned and 39% were under contract. By comparison, approximately 73% of the Company’s total lots were owned and 27% were under contract as of November 30, 2023.
•Notes payable of $1.70 billion were essentially unchanged. The Company’s debt to capital ratio improved 90 basis points to 29.8%, compared to 30.7%.
•Stockholders’ equity increased to $3.99 billion, compared to $3.81 billion, mainly reflecting net income, partly offset by common stock repurchases and cash dividends.
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◦In April 2024, the Company’s board of directors approved an increase in the quarterly cash dividend on the Company’s common stock to $.25 per share from $.20 per share, and authorized the repurchase of up to $1.00 billion of the Company’s outstanding common stock, replacing a prior authorization.
◦In the 2024 second quarter, the Company repurchased 764,742 shares of its outstanding common stock at a total cost of $50.0 million, bringing its total repurchases in the 2024 first half to 1,591,405 shares at a total cost of $100.0 million, or $62.84 per share. As of May 31, 2024, the Company had $950.0 million remaining under its current common stock repurchase authorization.
◦Based on the Company’s 75.2 million outstanding shares as of May 31, 2024, book value per share of $53.08 increased 14% year over year.
Guidance
The Company is providing the following guidance for its 2024 full year:
•Housing revenues in the range of $6.70 billion to $6.90 billion.
•Average selling price in the range of $485,000 to $495,000.
•Homebuilding operating income as a percentage of revenues in the range of 11.0% to 11.4%, assuming no inventory-related charges.
◦Housing gross profit margin in the range of 21.1% to 21.5%, assuming no inventory-related charges.
◦Selling, general and administrative expenses as a percentage of housing revenues of approximately 10.1%.
•Effective tax rate of approximately 23.0%.
•Ending community count in the range of 250 to 255.
The Company plans to also provide guidance for its 2024 third quarter on its conference call today.
Conference Call
The conference call to discuss the Company’s 2024 second quarter earnings will be broadcast live TODAY at 2:00 p.m. Pacific Time, 5:00 p.m. Eastern Time. To listen, please go to the Investor Relations section of the Company’s website at kbhome.com.
About KB Home
KB Home is one of the largest and most trusted homebuilders in the United States. We operate in 47 markets, have built over 680,000 quality homes in our more than 65-year history, and are honored to be the #1 customer-ranked national homebuilder based on third-party buyer surveys. What sets KB Home apart is building strong, personal relationships with every customer and creating an exceptional homebuying experience that offers our homebuyers the ability to personalize their home based on what they value at a price they can afford. As the industry leader in sustainability, KB Home has achieved one of the highest residential energy-efficiency ratings and delivered more ENERGY STAR® certified homes than any other builder, helping to lower the total cost of homeownership. For more information, visit kbhome.com.
Forward-Looking and Cautionary Statements
Certain matters discussed in this press release, including any statements that are predictive in nature or concern future market and economic conditions, business and prospects, our future financial and operational performance, or our future actions and their expected results are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and projections about future events and are not guarantees of future performance. We do not have a specific policy or intent of updating or revising forward-looking statements. If we update or revise any such statement(s), no assumption should be made that we will further
3

update or revise that statement(s) or update or revise any other such statement(s). Actual events and results may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors. The most important risk factors that could cause our actual performance and future events and actions to differ materially from such forward-looking statements include, but are not limited to the following: general economic, employment and business conditions; population growth, household formations and demographic trends; conditions in the capital, credit and financial markets; our ability to access external financing sources and raise capital through the issuance of common stock, debt or other securities, and/or project financing, on favorable terms; the execution of any securities repurchases pursuant to our board of directors’ authorization; material and trade costs and availability, including building materials and appliances, and delays related to state and municipal construction, permitting, inspection and utility processes, which have been disrupted by key equipment shortages; consumer and producer price inflation; changes in interest rates, including those set by the Federal Reserve, which the Federal Reserve has increased sharply over the past two years and may further increase to moderate inflation, and those available in the capital markets or from financial institutions and other lenders, and applicable to mortgage loans; our debt level, including our ratio of debt to capital, and our ability to adjust our debt level and maturity schedule; our compliance with the terms of our revolving credit facility and our senior unsecured term loan; the ability and willingness of the applicable lenders and financial institutions, or any substitute or additional lenders and financial institutions, to meet their commitments or fund borrowings, extend credit or provide payment guarantees to or for us under our revolving credit facility or unsecured letter of credit facility; volatility in the market price of our common stock; home selling prices, including our homes’ selling prices, being unaffordable relative to consumer incomes; weak or declining consumer confidence, either generally or specifically with respect to purchasing homes; competition from other sellers of new and resale homes; weather events, significant natural disasters and other climate and environmental factors, such as a lack of adequate water supply to permit new home communities in certain areas; any failure of lawmakers to agree on a budget or appropriation legislation to fund the federal government’s operations (also known as a government shutdown), and financial markets’ and businesses’ reactions to any such failure; government actions, policies, programs and regulations directed at or affecting the housing market (including the tax benefits associated with purchasing and owning a home, and the standards, fees and size limits applicable to the purchase or insuring of mortgage loans by government-sponsored enterprises and government agencies), the homebuilding industry, or construction activities; changes in existing tax laws or enacted corporate income tax rates, including those resulting from regulatory guidance and interpretations issued with respect thereto, such as the Internal Revenue Service’s recent guidance regarding heightened qualification requirements for federal tax credits for building energy-efficient homes; changes in U.S. trade policies, including the imposition of tariffs and duties on homebuilding materials and products, and related trade disputes with and retaliatory measures taken by other countries; disruptions in world and regional trade flows, economic activity and supply chains due to the military conflict and other attacks in the Middle East region and military conflict in Ukraine, including those stemming from wide-ranging sanctions the U.S. and other countries have imposed or may further impose on Russian business sectors, financial organizations, individuals and raw materials, the impact of which may, among other things, increase our operational costs, exacerbate building materials and appliance shortages and/or reduce our revenues and earnings; the adoption of new or amended financial accounting standards and the guidance and/or interpretations with respect thereto; the availability and cost of land in desirable areas and our ability to timely and efficiently develop acquired land parcels and open new home communities; impairment, land option contract abandonment or other inventory-related charges, including any stemming from decreases in the value of our land assets; our warranty claims experience with respect to homes previously delivered and actual warranty costs incurred; costs and/or charges arising from regulatory compliance requirements, including the costs to implement recent federal and state climate-related disclosure rules, or from legal, arbitral or regulatory proceedings, investigations, claims or settlements, including unfavorable outcomes in any such matters resulting in actual or potential monetary damage awards, penalties, fines or other direct or indirect payments, or injunctions, consent decrees or other voluntary or involuntary restrictions or adjustments to our business operations or practices that are beyond our current expectations and/or accruals; our ability to use/realize the net deferred tax assets we have generated; our ability to successfully implement our current and planned strategies and initiatives related to our product, geographic and market positioning, gaining share and scale in our served markets, through, among other things, our making substantial investments in land and land development, which, in some cases, involves putting significant capital over several years into large projects in one location, and in entering into new markets; our operational and investment concentration in markets in California; consumer interest in our new home communities and products, particularly from first-time homebuyers and higher-income consumers; our ability to generate orders and convert our backlog of orders to home deliveries and revenues, particularly in key markets in California; our ability to successfully implement our business strategies and achieve any associated financial and operational targets and objectives, including those discussed in this release or in any of our other public filings, presentations or disclosures; income tax expense volatility associated with stock-based compensation; the ability of our homebuyers to obtain homeowners and flood insurance policies, and/or typical or lender-required policies for other hazards or events, for their homes, which may depend on the ability and willingness of insurers or government-funded or -sponsored programs to offer coverage at an affordable price or at all; the ability of our homebuyers to obtain residential mortgage loans and mortgage banking services, which may depend on the ability and willingness of lenders and financial institutions to offer such loans and services to our homebuyers; the performance of mortgage lenders to our homebuyers; the performance of KBHS Home Loans, LLC (“KBHS”); the ability and willingness of lenders and financial institutions to extend credit facilities to KBHS to fund its originated mortgage loans; information technology failures and data security breaches; an epidemic, pandemic or significant seasonal or other disease outbreak, and the control response measures that international, federal, state and local governments, agencies, law enforcement and/or health authorities implement to address it, which may precipitate or exacerbate one or more of the above-mentioned and/or other risks, and significantly disrupt or prevent us from operating our business in the ordinary course for an extended period; widespread protests and/or civil unrest, whether due to political events, social movements or other reasons; and other events outside of our control. Please see our periodic reports and other filings with the Securities and Exchange Commission for a further discussion of these and other risks and uncertainties applicable to our business.
# # #
(Tables Follow)
# # #
4

KB HOME
CONSOLIDATED STATEMENTS OF OPERATIONS
For the Three Months and Six Months Ended May 31, 2024 and 2023
(In Thousands, Except Per Share Amounts – Unaudited)
Three Months Ended May 31, Six Months Ended May 31,
2024202320242023
Total revenues$1,709,813 $1,765,316 $3,177,579 $3,149,630 
Homebuilding:
Revenues$1,701,512 $1,757,846 $3,163,210 $3,136,383 
Costs and expenses(1,513,329)(1,555,744)(2,817,351)(2,777,792)
Operating income 188,183 202,102 345,859 358,591 
Interest income and other
19,449 1,729 25,306 2,196 
Equity in income (loss) of unconsolidated joint ventures
224 (313)(221)(1,070)
Homebuilding pretax income 207,856 203,518 370,944 359,717 
Financial services:
Revenues8,301 7,470 14,369 13,247 
Expenses(1,473)(1,472)(3,019)(2,830)
Equity in income of unconsolidated joint venture
6,435 5,426 13,490 7,008 
Financial services pretax income 13,263 11,424 24,840 17,425 
Total pretax income
221,119 214,942 395,784 377,142 
Income tax expense
(52,700)(50,500)(88,700)(87,200)
Net income
$168,419 $164,442 $307,084 $289,942 
Earnings per share:
Basic
$2.21 $2.00 $4.02 $3.49 
Diluted
$2.15 $1.94 $3.91 $3.38 
Weighted average shares outstanding:
Basic
75,653 81,764 75,773 82,607 
Diluted
77,806 84,306 78,034 85,141 
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KB HOME
CONSOLIDATED BALANCE SHEETS
(In Thousands – Unaudited)
May 31,
2024		November 30,
2023
Assets
Homebuilding:
Cash and cash equivalents$643,536 $727,076 
Receivables371,674 366,862 
Inventories5,335,185 5,133,646 
Investments in unconsolidated joint ventures64,319 59,128 
Property and equipment, net89,228 88,309 
Deferred tax assets, net114,475 119,475 
Other assets119,453 96,987 
6,737,870 6,591,483 
Financial services67,810 56,879 
Total assets$6,805,680 $6,648,362 
Liabilities and stockholders’ equity
Homebuilding:
Accounts payable$396,584 $388,452 
Accrued expenses and other liabilities720,622 758,227 
Notes payable1,695,196 1,689,898 
2,812,402 2,836,577 
Financial services1,574 1,645 
Stockholders’ equity3,991,704 3,810,140 
Total liabilities and stockholders’ equity$6,805,680 $6,648,362 
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KB HOME
SUPPLEMENTAL INFORMATION
For the Three Months and Six Months Ended May 31, 2024 and 2023
(In Thousands, Except Average Selling Price – Unaudited)
Three Months Ended May 31, Six Months Ended May 31,
2024202320242023
Homebuilding revenues:
Housing$1,701,512 $1,757,846 $3,159,638 $3,136,383 
Land— — 3,572 — 
Total$1,701,512 $1,757,846 $3,163,210 $3,136,383 
Homebuilding costs and expenses:
Construction and land costs
Housing$1,342,102 $1,386,558 $2,486,529 $2,469,379 
Land— — 2,101 — 
Subtotal1,342,102 1,386,558 2,488,630 2,469,379 
Selling, general and administrative expenses171,227 169,186 328,721 308,413 
Total$1,513,329 $1,555,744 $2,817,351 $2,777,792 
Interest expense:
Interest incurred$26,577 $25,995 $53,082 $53,799 
Interest capitalized(26,577)(25,995)(53,082)(53,799)
Total$— $— $— $— 
Other information:
Amortization of previously capitalized interest$29,189 $31,932 $55,692 $58,068 
Depreciation and amortization10,377 9,886 20,572 19,433 
Average selling price:
West Coast$669,600 $703,700 $671,500 $695,400 
Southwest447,600 431,700 449,100 437,900 
Central365,600 418,800 365,200 418,000 
Southeast417,100 398,500 417,300 396,500 
Total$483,000 $479,500 $481,700 $486,000 

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KB HOME
SUPPLEMENTAL INFORMATION
For the Three Months and Six Months Ended May 31, 2024 and 2023
(Dollars in Thousands – Unaudited)
Three Months Ended May 31, Six Months Ended May 31,
2024202320242023
Homes delivered:
 
 
West Coast1,043 802 1,871 1,588 
Southwest712 778 1,429 1,314 
Central1,028 1,302 1,898 2,237 
Southeast740 784 1,362 1,315 
Total3,523 3,666 6,560 6,454 
 
 
 
Net orders:
West Coast1,226 1,299 2,176 2,156 
Southwest785 789 1,483 1,259 
Central1,300 1,042 2,317 1,453 
Southeast686 806 1,344 1,210 
Total
3,997 3,936 7,320 6,078 
Net order value:
West Coast$902,483 $870,149 $1,535,883 $1,405,688 
Southwest362,788 345,340 677,651 522,732 
Central485,824 365,213 849,747 504,681 
Southeast280,808 318,947 550,813 468,416 
Total$2,031,903 $1,899,649 $3,614,094 $2,901,517 
May 31, 2024May 31, 2023
HomesValueHomesValue
Backlog data:
West Coast1,850 $1,304,955 1,855 $1,224,334 
Southwest1,433 652,578 1,637 695,613 
Central1,686 615,228 2,205 889,379 
Southeast1,301 549,374 1,589 647,367 
Total
6,270 $3,122,135 7,286 $3,456,693 




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KB HOME
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(In Thousands, Except Percentages – Unaudited)
This press release contains, and Company management’s discussion of the results presented in this press release may include, information about the Company’s adjusted housing gross profit margin, which is not calculated in accordance with generally accepted accounting principles (“GAAP”). The Company believes this non-GAAP financial measure is relevant and useful to investors in understanding its operations, and may be helpful in comparing the Company with other companies in the homebuilding industry to the extent they provide similar information. However, because it is not calculated in accordance with GAAP, this non-GAAP financial measure may not be completely comparable to other companies in the homebuilding industry and, thus, should not be considered in isolation or as an alternative to operating performance and/or financial measures prescribed by GAAP. Rather, this non-GAAP financial measure should be used to supplement the most directly comparable GAAP financial measure in order to provide a greater understanding of the factors and trends affecting the Company’s operations.
Adjusted Housing Gross Profit Margin
The following table reconciles the Company’s housing gross profit margin calculated in accordance with GAAP to the non-GAAP financial measure of the Company’s adjusted housing gross profit margin:
Three Months Ended May 31, Six Months Ended May 31,
2024202320242023
Housing revenues$1,701,512 $1,757,846 $3,159,638 $3,136,383 
Housing construction and land costs(1,342,102)(1,386,558)(2,486,529)(2,469,379)
Housing gross profits359,410 371,288 673,109 667,004 
Add: Inventory-related charges (a)1,210 4,287 2,508 9,576 
Adjusted housing gross profits $360,620 $375,575 $675,617 $676,580 
Housing gross profit margin
21.1 %21.1 %21.3 %21.3 %
Adjusted housing gross profit margin 21.2 %21.4 %21.4 %21.6 %
(a)    Represents inventory impairment and land option contract abandonment charges associated with housing operations.
Adjusted housing gross profit margin is a non-GAAP financial measure, which the Company calculates by dividing housing revenues less housing construction and land costs excluding housing inventory impairment and land option contract abandonment charges (as applicable) recorded during a given period, by housing revenues. The most directly comparable GAAP financial measure is housing gross profit margin. The Company believes adjusted housing gross profit margin is a relevant and useful financial measure to investors in evaluating the Company’s performance as it measures the gross profits the Company generated specifically on the homes delivered during a given period. This non-GAAP financial measure isolates the impact that housing inventory impairment and land option contract abandonment charges have on housing gross profit margins, and allows investors to make comparisons with the Company’s competitors that adjust housing gross profit margins in a similar manner. The Company also believes investors will find adjusted housing gross profit margin relevant and useful because it represents a profitability measure that may be compared to a prior period without regard to variability of housing inventory impairment and land option contract abandonment charges. This financial measure assists management in making strategic decisions regarding community location and product mix, product pricing and construction pace.
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v3.24.1.1.u2
Cover
Jun. 18, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Jun. 18, 2024
Entity Registrant Name KB HOME
Entity Incorporation, State or Country Code DE
Entity File Number 1-9195
Entity Tax Identification Number 95-3666267
Entity Address, Address Line One 10990 Wilshire Boulevard
Entity Address, City or Town Los Angeles
Entity Address, State or Province CA
Entity Address, Postal Zip Code 90024
City Area Code 310
Local Phone Number 231-4000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Document Information [Line Items]  
Entity Emerging Growth Company false
Entity Central Index Key 0000795266
Amendment Flag false
Document Type 8-K
Document Period End Date Jun. 18, 2024
Entity Registrant Name KB HOME
Entity Incorporation, State or Country Code DE
Entity File Number 1-9195
Entity Tax Identification Number 95-3666267
Entity Address, Address Line One 10990 Wilshire Boulevard
Entity Address, City or Town Los Angeles
Entity Address, State or Province CA
Entity Address, Postal Zip Code 90024
City Area Code 310
Local Phone Number 231-4000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Common Stock  
Document Information [Line Items]  
Title of 12(b) Security Common Stock (par value $1.00 per share)
Trading Symbol KBH
Security Exchange Name NYSE
Rights  
Document Information [Line Items]  
Title of 12(b) Security Rights to Purchase Series A Participating Cumulative Preferred Stock
Trading Symbol KBH
Security Exchange Name NYSE
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