KB Home 2024年度报告

(Exact name of registrant as specified in its charter)Delaware Registrant’s telephone number, including area code: (310) 231-4000Securities Registered Pursuant to Section 12(b) of the Act: Title of each classTradingSymbol(s)Name of each exchangeon which registeredCommon Stock (par value $1.00 per share)KBHNew York Stock Exchange Securities Registered Pursuant to Section 12(g) of the Act: NoneIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the SecuritiesAct.Yes☐No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of theAct.Yes☐No☐ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d)of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days.Yes☐No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File requiredto be submittedpursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files).Yes☐No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non- accelerated filer, a smallerreportingcompany,or an emerging growth company.See the definitions of“large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filer☐Smaller reporting company☐Emerging growthcompany☐ Large accelerated filer☐Non-accelerated filer☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of theExchange Act.☐Indicate by check mark whether the registrant has filed a report on and attestation to its management'sassessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C.7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report.☐If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financialstatements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐Indicate by check mark whether any of those error corrections are restatements that required a recoveryanalysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery periodpursuant to §240.10D-1(b).☐Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).Yes☐No☐The aggregate market value of the voting common stock held by non-affiliates of the registrant on May 31,2024 was $5,782,776,530,including 6,705,247 shares held by the registrant’s grantor stock ownership trust and excluding 19,982,889shares held in treasury.There were 72,156,821 shares of the registrant’s common stock, par value $1.00 per share, outstanding onDecember 31, 2024.Documents Incorporated by ReferencePortions of the registrant’s definitive Proxy Statement for the 2025 Annual Meeting of Stockholders(incorporated into Part III). KB HOMEFORM 10-KFOR THE YEAR ENDED NOVEMBER 30, 2024TABLE OF CONTENTS PART I Item 1.Business1Item 1A.Risk Factors15Item 1B.Unresolved Staff Comments24Item 1C.Cybersecurity24Item 2.Properties25Item 3.Legal Proceedings25Item 4.Mine Safety Disclosures25Information about our Executive Officers26 PART II Item 5.Market for Registrant’s Common Equity,Related Stockholder Matters and Issuer Purchases ofEquity Securities26Item 6.[Reserved]27Item 7.Management’s Discussion and Analysis of Financial Condition and Results ofOperations27 Item 7A.Quantitative and Qualitative Disclosures About Market Risk54Item 8.Financial Statements and Supplementary Data56Item 9.Changes in and Disagreements with Accountants on Accounting and FinancialDisclosure95Item 9A.Controls and Procedures95Item 9B.Other Information96Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections96 PART III Item 10.Directors, Executive Officers and Corporate Governance96Item 11.Executive Compensation97Item 12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters97Item 13.Certain Relationships and Related Transactions, and Director Independence98Item 14.Principal Accountant Fees and Services98 PART IV 1 PART IItem 1.BUSINESSGeneralKB Home is one of the largest and most trusted homebuilders in the U.S. We have been building homes for more than 65years, with nearly 700,000 homes built since our founding in 1957.We build a variety of new homes,including attached and