KB HOME
For the period ended Feb 29, 2024. Filed Apr 5, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Feb 29, 2024 · Filed Apr 5, 2024
KBH$50.47-3.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
KB HOME
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three Months Ended | ||
|---|---|---|
| February 29, 2024 | February 28, 2023 | |
| Cash flows from operating activities: | ||
| Net income | $138,665 | $125,500 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Equity in income of unconsolidated joint ventures | (6,610) | (825) |
| Distributions of earnings from unconsolidated joint ventures | 6,500 | 11 |
| Amortization of debt issuance costs and premiums | 860 | 835 |
| Depreciation and amortization | 9,335 | 8,712 |
| Deferred income taxes | 2,300 | 5,000 |
| Stock-based compensation | 7,921 | 5,867 |
| Inventory impairments and land option contract abandonments | 1,298 | 5,289 |
| Changes in assets and liabilities: | ||
| Receivables | 10,105 | (25,303) |
| Inventories | (107,536) | 101,293 |
| Accounts payable, accrued expenses and other liabilities | (38,471) | (131,671) |
| Other, net | 4,151 | (791) |
| Net cash provided by operating activities | 28,518 | 93,917 |
| Cash flows from investing activities: | ||
| Contributions to unconsolidated joint ventures | (3,138) | (13,223) |
| Return of investments in unconsolidated joint ventures | — | 5,100 |
| Purchases of property and equipment, net | (9,454) | (8,838) |
| Net cash used in investing activities | (12,592) | (16,961) |
| Cash flows from financing activities: | ||
| Borrowings under revolving credit facility | — | 170,000 |
| Repayments under revolving credit facility | — | (220,000) |
| Payments on mortgages and land contracts due to land sellers and other loans | (917) | (237) |
| Issuance of common stock under employee stock plans | 8,804 | 1,134 |
| Stock repurchases | (50,000) | (75,000) |
| Tax payments associated with stock-based compensation awards | (16,505) | (9,748) |
| Payments of cash dividends | (16,355) | (12,476) |
| Net cash used in financing activities | (74,973) | (146,327) |
| Net decrease in cash and cash equivalents | (59,047) | (69,371) |
| Cash and cash equivalents at beginning of period | 727,342 | 330,198 |
| Cash and cash equivalents at end of period | $668,295 | $260,827 |
KB HOME
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
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