KBH » Topics » Minority Interests.

This excerpt taken from the KBH 10-K filed Feb 14, 2005.
Minority Interests. Operating income was reduced by minority interests of $69.0 million in 2004, $26.9 million in 2003 and $17.0 million in 2002. Minority interests were comprised solely of the minority ownership portion of income from consolidated subsidiaries and joint ventures related to residential and commercial activities. The increases in minority interests in 2004 and 2003 primarily related to increased activity from a consolidated joint venture in California as well as higher earnings from our publicly-traded French subsidiary.


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