Company: LGIH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001580670-25-000043
Chunk: 30

Company: LGI Homes, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 home floor plans, average selling prices, gross margin percentage, geographical proximity, production construction processes, suppliers, subcontractors, regulatory environments, customer type and underlying demand and supply.  Each operating segment follows the same accounting policies and is managed by our management team.  We have no inter-segment sales, as all sales are to external customers. Operating results for each segment may not be indicative of the results for such segment had it been an independent, stand-alone entity for the periods presented.Our Chief Executive Officer and Chairman of the Board and our President and Chief Operating Officer have been determined to be our chief operating decision-makers (“CODMs”). The CODMs primarily evaluate the segments’ operating performance and allocate resources for all of our reportable segments based on net income before income taxes. For all of the segments, the CODMs use segment income before income tax expense in the annual budget and forecasting process. These operating results are reviewed against actual and forecasted figures, with income before income taxes being the key operating metric used to measure profit or loss.

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Financial information relating to our reportable segments was as follows (in thousands):Three Months Ended March 31,20252024Revenues:Central$101,146 $103,736 Southeast101,682 116,445 Northwest34,237 36,067 West66,956 73,079 Florida47,399 61,524 Total home sales revenues$351,420 $390,851 Cost of sales:Central$80,515 $79,482 Southeast77,721 85,060 Northwest28,422 28,795 West51,795 57,717 Florida39,254 48,396 Total cost of sales$277,707 $299,450 Other segment items(1):Central$23,727 $20,898 Southeast15,842 15,770 Northwest4,609 7,762 West12,676 12,468 Florida10,607 11,073 Corporate(2)$528 $336 Total other segment items$67,989 $68,307 Net income (loss) before income taxes:Central$(3,096)$3,356 Southeast8,119 15,615 Northwest1,206 (490)West2,485 2,894 Florida(2,462)2,055 Corporate (528)(336)Total net income