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Share Name | Share Symbol | Market | Type |
---|---|---|---|
KB Home | NYSE:KBH | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
1.22 | 1.77% | 70.00 | 70.37 | 69.19 | 69.65 | 1,746,025 | 01:00:00 |
þ
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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¨
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULE
KB Home 401(k) Savings Plan
Years ended December 31, 2015 and 2014
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December 31,
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2015
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2014
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Assets
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Investments, at fair value:
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Mutual funds
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$
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130,596,375
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$
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126,436,974
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Money market fund
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11,730,666
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12,189,751
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Participant-directed brokerage account
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843,544
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848,102
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Real-time traded employer stock fund
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6,321,225
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8,451,356
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149,491,810
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147,926,183
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Receivables:
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Notes receivable from participants
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3,179,434
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3,218,312
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Other
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717
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—
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3,180,151
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3,218,312
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Net assets available for benefits
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$
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152,671,961
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$
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151,144,495
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Years ended December 31,
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2015
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2014
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Additions (Deductions)
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Contributions:
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Plan participants
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$
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8,778,542
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$
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7,251,359
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Employer, net of forfeitures
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4,686,234
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3,824,697
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Rollovers
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1,022,083
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404,682
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14,486,859
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11,480,738
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Investment income (loss):
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Interest and dividends
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6,404,897
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7,614,875
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Net appreciation (depreciation) in fair value of investments
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(8,914,183
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)
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198,259
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(2,509,286
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)
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7,813,134
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Interest on notes receivable from participants
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136,492
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133,105
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Benefits paid to participants
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(10,568,256
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)
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(10,072,488
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)
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Administrative expenses
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(18,343
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)
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(19,170
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)
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Net increase in net assets available for benefits
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1,527,466
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9,335,319
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Net assets available for benefits
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Beginning of year
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151,144,495
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141,809,176
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End of year
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$
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152,671,961
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$
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151,144,495
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1.
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Description of the Plan
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2.
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Summary of Significant Accounting Policies
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•
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Part I designates contract value as the only required measure for fully benefit-responsive investment contracts.
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•
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Part II simplifies the investment disclosure requirements under existing GAAP, including by eliminating the disclosure of (1) individual investments that represent 5% or more of net assets available for benefits and (2) the net appreciation (depreciation) for investments by general type. Part II also simplifies the level of disaggregation of investments that are measured using fair value to general type of plan asset; plans are no longer required to disaggregate investments by nature, characteristics and risks. In addition, the disclosure of information about fair value measurements is to be provided by general type of plan asset.
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•
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Part III provides a practical expedient to permit plans to measure investments and investment-related accounts as of a month-end date that is closest to the plan’s fiscal year-end, when the fiscal period does not coincide with a month-end.
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3.
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Fair Value Measurements
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Level 1
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Fair value determined based on quoted prices in active markets for identical assets or liabilities.
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Level 2
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Fair value determined using significant observable inputs, such as quoted prices for similar assets or liabilities or quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability, or inputs that are derived principally from or corroborated by observable market data, by correlation or other means.
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Level 3
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Fair value determined using significant unobservable inputs, such as pricing models, discounted cash flows, or similar techniques.
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4.
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Risks and Uncertainties
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5.
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Tax Status of the Plan
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6.
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Related Party and Party-in-Interest Transactions
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Identity of Issuer,
Borrower, Lessor,
or Similar Party
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Description of Investment Including
Maturity Date, Rate of Interest,
Collateral, Par, or Maturity Value
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Shares/
Units
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Cost
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Current
Value
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American Beacon Advisors
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American Beacon Small Cap Value Fund Class Institutional
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196,817.269
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**
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$
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4,420,516
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Aston Asset Management
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Aston/Fairpointe Mid Cap Fund Class I
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286,778.486
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**
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10,065,925
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Dimensional Fund Advisors
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DFA US Large Cap Value Portfolio Institutional Class
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394,928.727
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**
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12,171,703
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Fidelity Investments*
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Fidelity BrokerageLink
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201,541.794
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**
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843,544
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Fidelity Investments*
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Fidelity Contrafund – Class K
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356,536.425
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**
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35,254,321
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Fidelity Investments*
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Fidelity Freedom K Income Fund
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117,388.371
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**
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1,333,532
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Fidelity Investments*
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Fidelity Freedom K 2010 Fund
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119,909.616
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**
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1,479,685
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Fidelity Investments*
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Fidelity Freedom K 2015 Fund
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29,415.774
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**
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376,522
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Fidelity Investments*
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Fidelity Freedom K 2020 Fund
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516,513.917
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**
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6,983,268
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Fidelity Investments*
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Fidelity Freedom K 2025 Fund
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46,891.113
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**
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661,165
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Fidelity Investments*
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Fidelity Freedom K 2030 Fund
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644,971.808
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**
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9,242,446
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Fidelity Investments*
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Fidelity Freedom K 2035 Fund
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18,659.015
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**
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275,407
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Fidelity Investments*
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Fidelity Freedom K 2040 Fund
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644,742.147
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**
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9,535,736
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Fidelity Investments*
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Fidelity Freedom K 2045 Fund
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23,946.138
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**
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364,221
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Fidelity Investments*
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Fidelity Freedom K 2050 Fund
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21,638.575
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**
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331,719
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Fidelity Investments*
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Fidelity Freedom K 2055 Fund
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7,224.307
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**
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81,996
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Fidelity Investments*
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Fidelity Money Market Trust Retirement Government Money Market II Portfolio
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11,730,664.950
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**
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11,730,666
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Harbor Capital Advisors
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Harbor International Fund Institutional Class
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90,947.488
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**
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5,405,009
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Lazard Asset Management
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Lazard Emerging Markets Equity Portfolio Institutional Shares
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200,983.565
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**
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2,701,219
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Metropolitan West Asset Management
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Metropolitan West Total Return Bond Fund Class M
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904,497.028
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**
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9,605,758
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Fidelity Investments*
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Spartan 500 Index Fund – Institutional Class
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226,382.607
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**
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16,256,535
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Fidelity Investments*
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Spartan Extended Market Index Fund - Fidelity Advantage Class
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5,755.966
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**
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288,950
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Fidelity Investments*
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Spartan Global ex US Index Fund - Fidelity Advantage Class
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6,482.322
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**
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68,777
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Fidelity Investments*
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Spartan US Bond Index Fund - Fidelity Advantage Class
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16,358.893
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**
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187,964
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Franklin Templeton Investments
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Templeton Global Bond Fund Class R6
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666.855
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**
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7,689
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Vanguard Group
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Vanguard Short-Term Investment-Grade Fund Admiral Shares
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202,180.879
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**
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2,135,030
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Wasatch Advisors
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Wasatch Small Cap Growth Fund Investor Class
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32,968.803
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**
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1,361,282
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KB Home*
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KB Home Stock Fund
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512,602.328
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**
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6,321,225
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Notes receivable from Participants*
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Individual notes receivable from Participants with interest rates ranging from 4.25% to 9.25% and maturity dates through 2031
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|
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3,179,434
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Total
|
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$
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152,671,244
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*
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Party-in-interest to the Plan.
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**
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Participant-directed investments, cost information omitted.
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KB Home 401(k) Savings Plan
By: KB Home
Plan Administrator
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|
||||
Dated:
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June 24, 2016
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By: /s/ WILLIAM R. HOLLINGER
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William R. Hollinger
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Senior Vice President and Chief Accounting Officer
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Exhibit No.
|
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Description
|
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Sequentially Numbered Page
|
|
|
|
|
|
23.1
|
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Consent of Independent Registered Public Accounting Firm
|
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14
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1 Year KB Home Chart |
1 Month KB Home Chart |
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