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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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