2013 Q2 Form 10-Q Financial Statement

#000079526613000033 Filed on July 10, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $524.4M $302.9M
YoY Change 73.16% 11.45%
Cost Of Revenue $443.0M $253.0M
YoY Change 75.1% 1.04%
Gross Profit $80.77M $49.12M
YoY Change 64.44% 138.78%
Gross Profit Margin 15.4% 16.22%
Selling, General & Admin $70.10M $63.10M
YoY Change 11.09% -0.32%
% of Gross Profit 86.79% 128.47%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $400.0K $400.0K
YoY Change 0.0% -33.33%
% of Gross Profit 0.5% 0.81%
Operating Expenses $70.10M $63.10M
YoY Change 11.09% -0.32%
Operating Profit $8.691M -$15.54M
YoY Change -155.94% -63.64%
Interest Expense $14.51M $14.47M
YoY Change 0.26% -217.63%
% of Operating Profit 166.92%
Other Income/Expense, Net
YoY Change
Pretax Income -$4.173M -$28.64M
YoY Change -85.43% -58.38%
Income Tax -$1.200M -$4.500M
% Of Pretax Income
Net Earnings -$2.973M -$24.14M
YoY Change -87.68% -64.77%
Net Earnings / Revenue -0.57% -7.97%
Basic Earnings Per Share -$0.04 -$0.31
Diluted Earnings Per Share -$0.04 -$0.31
COMMON SHARES
Basic Shares Outstanding 83.61M shares
Diluted Shares Outstanding 83.61M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $538.6M $314.3M
YoY Change 71.36% -49.41%
Cash & Equivalents $541.2M $318.0M
Short-Term Investments
Other Short-Term Assets $5.500M $4.500M
YoY Change 22.22% -11.76%
Inventory $2.029B $1.728B
Prepaid Expenses
Receivables $66.10M $74.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.640B $2.120B
YoY Change 24.49% -18.19%
LONG-TERM ASSETS
Property, Plant & Equipment $7.736M $7.600M
YoY Change 1.79% -10.59%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $131.9M $129.7M
YoY Change 1.7% 70.21%
Other Assets $65.30M $74.40M
YoY Change -12.23% -37.9%
Total Long-Term Assets $272.5M $273.6M
YoY Change -0.39% 1.9%
TOTAL ASSETS
Total Short-Term Assets $2.640B $2.120B
Total Long-Term Assets $272.5M $273.6M
Total Assets $2.912B $2.394B
YoY Change 21.64% -16.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $117.8M $91.80M
YoY Change 28.32% -28.06%
Accrued Expenses $51.10M $344.4M
YoY Change -85.16% -28.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $168.9M $436.2M
YoY Change -61.28% -28.71%
LONG-TERM LIABILITIES
Long-Term Debt $1.943B $1.583B
YoY Change 22.78% -6.44%
Other Long-Term Liabilities $327.0M
YoY Change
Total Long-Term Liabilities $2.270B $1.583B
YoY Change 43.44% -12.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $168.9M $436.2M
Total Long-Term Liabilities $2.270B $1.583B
Total Liabilities $2.441B $2.025B
YoY Change 20.59% -16.24%
SHAREHOLDERS EQUITY
Retained Earnings $430.7M
YoY Change
Common Stock $900.7M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $718.0M
YoY Change
Treasury Stock Shares
Shareholders Equity $470.8M $369.5M
YoY Change
Total Liabilities & Shareholders Equity $2.912B $2.394B
YoY Change 21.64% -16.3%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income -$2.973M -$24.14M
YoY Change -87.68% -64.77%
Depreciation, Depletion And Amortization $400.0K $400.0K
YoY Change 0.0% -33.33%
Cash From Operating Activities -$56.60M $19.70M
YoY Change -387.31% -118.52%
INVESTING ACTIVITIES
Capital Expenditures -$400.0K -$200.0K
YoY Change 100.0%
Acquisitions
YoY Change
Other Investing Activities -$5.400M -$1.900M
YoY Change 184.21% 46.15%
Cash From Investing Activities -$5.700M -$2.100M
YoY Change 171.43% 61.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -22.10M -7.000M
YoY Change 215.71% -7.89%
NET CHANGE
Cash From Operating Activities -56.60M 19.70M
Cash From Investing Activities -5.700M -2.100M
Cash From Financing Activities -22.10M -7.000M
Net Change In Cash -84.40M 10.60M
YoY Change -896.23% -109.19%
FREE CASH FLOW
Cash From Operating Activities -$56.60M $19.70M
Capital Expenditures -$400.0K -$200.0K
Free Cash Flow -$56.20M $19.90M
YoY Change -382.41% -118.7%

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LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1300000 USD
CY2013Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
342300000 USD
CY2013Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
85100000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
289521000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-14190000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6403000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
3958000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-267600000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-89881000 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
-2973000 USD
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
-24136000 USD
us-gaap Net Income Loss
NetIncomeLoss
-69938000 USD
us-gaap Net Income Loss
NetIncomeLoss
-15431000 USD
us-gaap Noncash Or Part Noncash Acquisition Inventory Acquired1
NoncashOrPartNoncashAcquisitionInventoryAcquired1
0 USD
us-gaap Noncash Or Part Noncash Acquisition Inventory Acquired1
NoncashOrPartNoncashAcquisitionInventoryAcquired1
27600000 USD
CY2012Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
1722815000 USD
CY2013Q2 us-gaap Notes And Loans Payable
NotesAndLoansPayable
1943275000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
5 segment
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-15536000 USD
CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
8691000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
9145000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-46685000 USD
CY2012Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
28278000 USD
CY2013Q2 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
51541000 USD
CY2012Q4 us-gaap Other Assets
OtherAssets
95050000 USD
CY2013Q2 us-gaap Other Assets
OtherAssets
103797000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2872000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-6488000 USD
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
752000 USD
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
592000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
33000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
10086000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
6751000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
6746000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
4179000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
5651000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
-4550000 USD
CY2013Q2 us-gaap Pledged Assets Not Separately Reported Real Estate
PledgedAssetsNotSeparatelyReportedRealEstate
85700000 USD
CY2013Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
5475000 USD
CY2012Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
7810000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;"></font><font style="font-family:inherit;font-size:10pt;">Effective December 1, 2012, we elected to reclassify closing cost allowances given to certain homebuyers from selling, general and administrative expenses to construction and land costs in our consolidated statements of operations. These allowances are used to cover a portion of non-recurring third-party fees, such as escrow fees, title costs, recording fees, finance processing fees, and prepaid property taxes and insurance costs that are charged to a homebuyer in connection with the closing of the sale of a home. This reclassification reduced both our housing gross profits and selling, general and administrative expenses for the three months ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">May&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;"> and 2012 by </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2.2 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$3.3 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, which represented </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">.4%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">1.1%</font><font style="font-family:inherit;font-size:10pt;"> of housing revenues, respectively. For the six months ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">May&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;"> and 2012, the reclassification reduced both our housing gross profits and selling, general and administrative expenses by </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$4.3 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$7.8 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, which represented </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">.5%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">1.4%</font><font style="font-family:inherit;font-size:10pt;"> of housing revenues, respectively. The reclassification had no impact on consolidated operating income (loss) or net income (loss) amounts previously reported. All prior period amounts have been reclassified to conform to the 2013 presentation. </font></div></div>
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
61000 USD
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
4376000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
344831000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
230000000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
2106000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
353000 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
0 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
109503000 USD
CY2013Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
109500000 USD
us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
1299000 USD
us-gaap Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
40000 USD
us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
-6695000 USD
us-gaap Proceeds From Repayments Of Secured Debt
ProceedsFromRepaymentsOfSecuredDebt
-37830000 USD
CY2013Q2 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
15873000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
17547000 USD
CY2013Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7736000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7920000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-11097000 USD
CY2012Q2 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-11130000 USD
CY2012Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
234917000 USD
CY2012Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
235032000 USD
CY2012Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
217684000 USD
CY2011Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
233461000 USD
CY2013Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
217161000 USD
CY2013Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
215577000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
27694000 USD
CY2013Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
21566000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
40271000 USD
CY2012Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales
RealEstateInventoryCapitalizedInterestCostsCostOfSales
15025000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
67911000 USD
CY2013Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
34489000 USD
CY2012Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
29609000 USD
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
60020000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
340481000 USD
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
340481000 USD
CY2012Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
42362000 USD
CY2013Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
42322000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
450292000 USD
CY2013Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
430682000 USD
us-gaap Revenue Other Financial Services
RevenueOtherFinancialServices
900000 USD
CY2012Q2 us-gaap Revenue Other Financial Services
RevenueOtherFinancialServices
600000 USD
CY2013Q2 us-gaap Revenue Other Financial Services
RevenueOtherFinancialServices
450000 USD
us-gaap Revenue Other Financial Services
RevenueOtherFinancialServices
1275000 USD
us-gaap Revenues
Revenues
557410000 USD
CY2012Q2 us-gaap Revenues
Revenues
302852000 USD
CY2013Q2 us-gaap Revenues
Revenues
524406000 USD
us-gaap Revenues
Revenues
929625000 USD
CY2012Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
47822000 USD
CY2013Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
53475000 USD
CY2012Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
93300000 USD
CY2013Q2 us-gaap Self Insurance Reserve
SelfInsuranceReserve
90600000 USD
CY2013Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
70099000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
114312000 USD
CY2012Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
63100000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
129196000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3205000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2044000 USD
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
8431121 shares
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
23.88
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
56600000 USD
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10105546 shares
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9992960 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
21.27
CY2013Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
21.36
CY2013Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
34000000 USD
CY2012Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
50866000 USD
CY2013Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
43333000 USD
CY2011Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
67693000 USD
CY2012Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
64607000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
8703000 USD
CY2012Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
4267000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
18213000 USD
CY2013Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
9284000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2973000 USD
CY2013Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
3553000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
6319000 USD
CY2012Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1656000 USD
CY2013Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
6325000 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
112586 shares
CY2013Q1 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
StockIssuedDuringPeriodSharesTreasuryStockReissued
6325000 shares
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
353000 USD
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
589000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1517000 USD
us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
109503000 USD
CY2013Q2 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
4000000 shares
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
376806000 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
470816000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
442657000 USD
CY2012Q2 us-gaap Stockholders Equity
StockholdersEquity
369531000 USD
CY2013Q2 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
4251000 USD
CY2012Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
8453000 USD
CY2012Q4 us-gaap Treasury Stock Value
TreasuryStockValue
934136000 USD
CY2013Q2 us-gaap Treasury Stock Value
TreasuryStockValue
718044000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
33000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
100000.0 USD
CY2013Q2 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
100000.0 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-align:justify;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;"></font><font style="font-family:inherit;font-size:10pt;">The accompanying unaudited consolidated financial statements have been prepared in conformity with GAAP and, therefore, include amounts based on informed estimates and judgments of management. Actual results could differ from these estimates.</font></div></div>
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-400000 USD
CY2012Q2 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
9700000 USD
CY2013Q2 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
300000 USD
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
28000000 USD
CY2012Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
77105000 shares
CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
83605000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
77097000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
81526000 shares
CY2013Q2 kbh Acquisition Costs Related To Land Option Contracts And Other Similar Contracts
AcquisitionCostsRelatedToLandOptionContractsAndOtherSimilarContracts
29400000 USD
CY2012Q4 kbh Acquisition Costs Related To Land Option Contracts And Other Similar Contracts
AcquisitionCostsRelatedToLandOptionContractsAndOtherSimilarContracts
25400000 USD
CY2013Q2 kbh Aggregate Carrying Value Of Inventory Impacted By Pretax Noncash Inventory Impairment Charges
AggregateCarryingValueOfInventoryImpactedByPretaxNoncashInventoryImpairmentCharges
314500000 USD
CY2012Q4 kbh Aggregate Carrying Value Of Inventory Impacted By Pretax Noncash Inventory Impairment Charges
AggregateCarryingValueOfInventoryImpactedByPretaxNoncashInventoryImpairmentCharges
307200000 USD
CY2012Q4 kbh Aggregate Purchase Price Associated With Land Option And Other Similar Contracts
AggregatePurchasePriceAssociatedWithLandOptionAndOtherSimilarContracts
625335000 USD
CY2013Q2 kbh Aggregate Purchase Price Associated With Land Option And Other Similar Contracts
AggregatePurchasePriceAssociatedWithLandOptionAndOtherSimilarContracts
707762000 USD
CY2012Q4 kbh Cash Deposits Associated With Land Option And Other Similar Contracts Of Non Variable Interest Entities
CashDepositsAssociatedWithLandOptionAndOtherSimilarContractsOfNonVariableInterestEntities
17219000 USD
CY2013Q2 kbh Cash Deposits Associated With Land Option And Other Similar Contracts Of Non Variable Interest Entities
CashDepositsAssociatedWithLandOptionAndOtherSimilarContractsOfNonVariableInterestEntities
12012000 USD
CY2012Q4 kbh Cash Deposits Associated With Land Option And Other Similar Contracts Of Unconsolidated Variable Interest Entities
CashDepositsAssociatedWithLandOptionAndOtherSimilarContractsOfUnconsolidatedVariableInterestEntities
8463000 USD
CY2013Q2 kbh Cash Deposits Associated With Land Option And Other Similar Contracts Of Unconsolidated Variable Interest Entities
CashDepositsAssociatedWithLandOptionAndOtherSimilarContractsOfUnconsolidatedVariableInterestEntities
10323000 USD
CY2013Q2 kbh Cash Deposits On Land Option And Other Similar Contracts
CashDepositsOnLandOptionAndOtherSimilarContracts
22335000 USD
CY2012Q4 kbh Cash Deposits On Land Option And Other Similar Contracts
CashDepositsOnLandOptionAndOtherSimilarContracts
25682000 USD
CY2013Q2 kbh Construction Defect And Other Litigation Liabilities
ConstructionDefectAndOtherLitigationLiabilities
104672000 USD
CY2012Q4 kbh Construction Defect And Other Litigation Liabilities
ConstructionDefectAndOtherLitigationLiabilities
107111000 USD
kbh Cumulative Payments Made As Repair Costs For Homes With Water Intrusion
CumulativePaymentsMadeAsRepairCostsForHomesWithWaterIntrusion
15400000 USD
CY2013Q2 kbh Deposits Under Land Option And Other Similar Contracts
DepositsUnderLandOptionAndOtherSimilarContracts
22400000 USD
CY2013Q2 kbh Equity In Net Loss Of Subsidiaries
EquityInNetLossOfSubsidiaries
0 USD
CY2012Q2 kbh Equity In Net Loss Of Subsidiaries
EquityInNetLossOfSubsidiaries
0 USD
kbh Equity In Net Loss Of Subsidiaries
EquityInNetLossOfSubsidiaries
0 USD
kbh Equity In Net Loss Of Subsidiaries
EquityInNetLossOfSubsidiaries
0 USD
CY2012Q4 kbh Equity Method Investment Summarized Financial Information Accounts Payable And Other Liabilities
EquityMethodInvestmentSummarizedFinancialInformationAccountsPayableAndOtherLiabilities
88027000 USD
CY2013Q2 kbh Equity Method Investment Summarized Financial Information Accounts Payable And Other Liabilities
EquityMethodInvestmentSummarizedFinancialInformationAccountsPayableAndOtherLiabilities
87815000 USD
CY2013Q2 kbh Equity Method Investment Summarized Financial Information Cash
EquityMethodInvestmentSummarizedFinancialInformationCash
19061000 USD
CY2012Q4 kbh Equity Method Investment Summarized Financial Information Cash
EquityMethodInvestmentSummarizedFinancialInformationCash
29721000 USD
CY2012Q4 kbh Equity Method Investment Summarized Financial Information Inventories
EquityMethodInvestmentSummarizedFinancialInformationInventories
352791000 USD
CY2013Q2 kbh Equity Method Investment Summarized Financial Information Inventories
EquityMethodInvestmentSummarizedFinancialInformationInventories
358371000 USD
CY2013Q2 kbh Equity Method Investment Summarized Financial Information Other Assets
EquityMethodInvestmentSummarizedFinancialInformationOtherAssets
1183000 USD
CY2012Q4 kbh Equity Method Investment Summarized Financial Information Other Assets
EquityMethodInvestmentSummarizedFinancialInformationOtherAssets
1175000 USD
kbh Equity Method Investment Summarized Financial Information Other Income Expenses Net
EquityMethodInvestmentSummarizedFinancialInformationOtherIncomeExpensesNet
-749000 USD
kbh Equity Method Investment Summarized Financial Information Other Income Expenses Net
EquityMethodInvestmentSummarizedFinancialInformationOtherIncomeExpensesNet
-1891000 USD
CY2012Q2 kbh Equity Method Investment Summarized Financial Information Other Income Expenses Net
EquityMethodInvestmentSummarizedFinancialInformationOtherIncomeExpensesNet
-288000 USD
CY2013Q2 kbh Equity Method Investment Summarized Financial Information Other Income Expenses Net
EquityMethodInvestmentSummarizedFinancialInformationOtherIncomeExpensesNet
-1036000 USD
CY2013Q2 kbh Equity Method Investment Summarized Financial Information Receivable
EquityMethodInvestmentSummarizedFinancialInformationReceivable
6360000 USD
CY2012Q4 kbh Equity Method Investment Summarized Financial Information Receivable
EquityMethodInvestmentSummarizedFinancialInformationReceivable
6104000 USD
kbh Estimated Repair Costs For Homes With Water Intrusion
EstimatedRepairCostsForHomesWithWaterIntrusion
43200000 USD
kbh Expected Realization Period Of Inventory
ExpectedRealizationPeriodOfInventory
P5Y
kbh Expenses Associated With Self Insurance
ExpensesAssociatedWithSelfInsurance
4600000 USD
kbh Expenses Associated With Self Insurance
ExpensesAssociatedWithSelfInsurance
3400000 USD
CY2013Q2 kbh Expenses Associated With Self Insurance
ExpensesAssociatedWithSelfInsurance
1600000 USD
CY2012Q2 kbh Expenses Associated With Self Insurance
ExpensesAssociatedWithSelfInsurance
2300000 USD
CY2013Q2 kbh Gross Unrecognized Tax Benefits Including Interest And Penalties
GrossUnrecognizedTaxBenefitsIncludingInterestAndPenalties
1300000 USD
CY2012Q2 kbh Homebuyer Closing Costs Allowances
HomebuyerClosingCostsAllowances
3300000 USD
CY2013Q2 kbh Homebuyer Closing Costs Allowances
HomebuyerClosingCostsAllowances
2200000 USD
kbh Homebuyer Closing Costs Allowances
HomebuyerClosingCostsAllowances
4300000 USD
kbh Homebuyer Closing Costs Allowances
HomebuyerClosingCostsAllowances
7800000 USD
kbh Homebuyer Closing Costs Allowances Percentage Of Housing Revenues
HomebuyerClosingCostsAllowancesPercentageOfHousingRevenues
0.005 Rate
kbh Homebuyer Closing Costs Allowances Percentage Of Housing Revenues
HomebuyerClosingCostsAllowancesPercentageOfHousingRevenues
0.014 Rate
CY2013Q2 kbh Homebuyer Closing Costs Allowances Percentage Of Housing Revenues
HomebuyerClosingCostsAllowancesPercentageOfHousingRevenues
0.004 Rate
CY2012Q2 kbh Homebuyer Closing Costs Allowances Percentage Of Housing Revenues
HomebuyerClosingCostsAllowancesPercentageOfHousingRevenues
0.011 Rate
kbh Increase Decrease In Consolidated Inventories Not Owned
IncreaseDecreaseInConsolidatedInventoriesNotOwned
-3611000 USD
kbh Increase Decrease In Consolidated Inventories Not Owned
IncreaseDecreaseInConsolidatedInventoriesNotOwned
4842000 USD
CY2012Q4 kbh Increase In Inventories And Accrued Expenses And Other Liabilities Due To Land Option And Other Similar Contracts
IncreaseInInventoriesAndAccruedExpensesAndOtherLiabilitiesDueToLandOptionAndOtherSimilarContracts
4100000 USD
CY2013Q2 kbh Increase In Inventories And Accrued Expenses And Other Liabilities Due To Land Option And Other Similar Contracts
IncreaseInInventoriesAndAccruedExpensesAndOtherLiabilitiesDueToLandOptionAndOtherSimilarContracts
8900000 USD
CY2013Q2 kbh Initial Capital Contribution To Joint Venture
InitialCapitalContributionToJointVenture
5000000 USD
CY2012Q4 kbh Intercompany Payables
IntercompanyPayables
0 USD
CY2013Q2 kbh Intercompany Payables
IntercompanyPayables
0 USD
CY2012Q4 kbh Intercompany Receivables
IntercompanyReceivables
0 USD
CY2013Q2 kbh Intercompany Receivables
IntercompanyReceivables
0 USD
kbh Intercompany Transactions
IntercompanyTransactions
0 USD
kbh Intercompany Transactions
IntercompanyTransactions
0 USD
kbh Inventory Impairments And Land Option Contract Abandonments
InventoryImpairmentsAndLandOptionContractAbandonments
284000 USD
kbh Inventory Impairments And Land Option Contract Abandonments
InventoryImpairmentsAndLandOptionContractAbandonments
16509000 USD
CY2012Q2 kbh Land Option Contract Abandonment Charges
LandOptionContractAbandonmentCharges
0 USD
kbh Land Option Contract Abandonment Charges
LandOptionContractAbandonmentCharges
0 USD
kbh Land Option Contract Abandonment Charges
LandOptionContractAbandonmentCharges
284000 USD
CY2013Q2 kbh Land Option Contract Abandonment Charges
LandOptionContractAbandonmentCharges
284000 USD
CY2013Q2 kbh Liabilities Related To Inventory Not Owned
LiabilitiesRelatedToInventoryNotOwned
8943000 USD
CY2012Q4 kbh Liabilities Related To Inventory Not Owned
LiabilitiesRelatedToInventoryNotOwned
4100000 USD
CY2012 kbh Long Lived Assets Held And Used Carrying Value
LongLivedAssetsHeldAndUsedCarryingValue
68000000 USD
kbh Maximum Warranty On Electrical Heating Cooling Plumbing And Other Building Systems
MaximumWarrantyOnElectricalHeatingCoolingPlumbingAndOtherBuildingSystems
P5Y
kbh Minimum Warranty On Electrical Heating Cooling Plumbing And Other Building Systems
MinimumWarrantyOnElectricalHeatingCoolingPlumbingAndOtherBuildingSystems
P2Y
kbh Noncash Impairment Charges Included In Equity In Loss Of Unconsolidated Joint Ventures
NoncashImpairmentChargesIncludedInEquityInLossOfUnconsolidatedJointVentures
0 USD
CY2013Q2 kbh Number Of Communities And Various Other Land Parcels Impacted By Pretax Noncash Inventory Impairment Charges
NumberOfCommunitiesAndVariousOtherLandParcelsImpactedByPretaxNoncashInventoryImpairmentCharges
44 property
CY2012Q4 kbh Number Of Communities And Various Other Land Parcels Impacted By Pretax Noncash Inventory Impairment Charges
NumberOfCommunitiesAndVariousOtherLandParcelsImpactedByPretaxNoncashInventoryImpairmentCharges
46 property
CY2012Q4 kbh Number Of Investments In Unconsolidated Joint Ventures
NumberOfInvestmentsInUnconsolidatedJointVentures
8 joint_venture
CY2013Q2 kbh Number Of Investments In Unconsolidated Joint Ventures
NumberOfInvestmentsInUnconsolidatedJointVentures
8 joint_venture
kbh Number Of Land Parcels Or Communities Associated With Non Cash Inventory Impairment Charges
NumberOfLandParcelsOrCommunitiesAssociatedWithNonCashInventoryImpairmentCharges
7 property
CY2012Q2 kbh Number Of Land Parcels Or Communities Associated With Non Cash Inventory Impairment Charges
NumberOfLandParcelsOrCommunitiesAssociatedWithNonCashInventoryImpairmentCharges
5 property
CY2012Q2 kbh Number Of Land Parcels Or Communities Evaluated For Recoverability
NumberOfLandParcelsOrCommunitiesEvaluatedForRecoverability
39 property
kbh Number Of Land Parcels Or Communities Evaluated For Recoverability
NumberOfLandParcelsOrCommunitiesEvaluatedForRecoverability
76 property
CY2013Q2 kbh Number Of Land Parcels Or Communities Evaluated For Recoverability
NumberOfLandParcelsOrCommunitiesEvaluatedForRecoverability
18 property
kbh Number Of Land Parcels Or Communities Evaluated For Recoverability
NumberOfLandParcelsOrCommunitiesEvaluatedForRecoverability
38 property
CY2012Q4 kbh Outstanding Letters Of Credit In Lieu Of Cash Deposits Under Certain Land Option Or Other Similar Contracts
OutstandingLettersOfCreditInLieuOfCashDepositsUnderCertainLandOptionOrOtherSimilarContracts
500000 USD
CY2013Q2 kbh Outstanding Letters Of Credit In Lieu Of Cash Deposits Under Certain Land Option Or Other Similar Contracts
OutstandingLettersOfCreditInLieuOfCashDepositsUnderCertainLandOptionOrOtherSimilarContracts
100000 USD
kbh Ownership Share In Guarantor Subsidiaries
OwnershipShareInGuarantorSubsidiaries
1
kbh Payments Made For Repair Of Homes With Water Intrusion
PaymentsMadeForRepairOfHomesWithWaterIntrusion
11400000 USD
CY2013Q2 kbh Performance Bonds
PerformanceBonds
289700000 USD
CY2012Q4 kbh Performance Bonds
PerformanceBonds
286100000 USD
CY2012Q2 kbh Post Impairment Fair Value
PostImpairmentFairValue
15200000 USD
CY2013Q2 kbh Purchase Price Associated With Land Option And Other Similar Contracts Of Non Variable Interest Entities
PurchasePriceAssociatedWithLandOptionAndOtherSimilarContractsOfNonVariableInterestEntities
232097000 USD
CY2012Q4 kbh Purchase Price Associated With Land Option And Other Similar Contracts Of Non Variable Interest Entities
PurchasePriceAssociatedWithLandOptionAndOtherSimilarContractsOfNonVariableInterestEntities
298139000 USD
CY2012Q4 kbh Purchase Price Associated With Land Option And Other Similar Contracts Of Unconsolidated Variable Interest Entities
PurchasePriceAssociatedWithLandOptionAndOtherSimilarContractsOfUnconsolidatedVariableInterestEntities
327196000 USD
CY2013Q2 kbh Purchase Price Associated With Land Option And Other Similar Contracts Of Unconsolidated Variable Interest Entities
PurchasePriceAssociatedWithLandOptionAndOtherSimilarContractsOfUnconsolidatedVariableInterestEntities
475665000 USD
kbh Remaining Useful Life Maximum
RemainingUsefulLifeMaximum
P10Y
kbh Remaining Useful Life Minimum
RemainingUsefulLifeMinimum
P1Y
kbh Structural Warranty Provided By Company
StructuralWarrantyProvidedByCompany
P10Y
CY2013Q2 kbh Title Services
TitleServices
680000 USD
CY2012Q2 kbh Title Services
TitleServices
492000 USD
kbh Title Services
TitleServices
1329000 USD
kbh Title Services
TitleServices
878000 USD
CY2013Q1 kbh Treasury Stock Reissued Average Cost Per Share
TreasuryStockReissuedAverageCostPerShare
18.25
kbh Warranty For Other Components Of Home
WarrantyForOtherComponentsOfHome
P1Y
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--11-30
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-05-31
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000795266
CY2013Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
83713479 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
KB Home

Files In Submission

Name View Source Status
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0000795266-13-000033-xbrl.zip Edgar Link pending
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