Company: LGIH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001580670-25-000043
Chunk: 14

Company: LGI Homes, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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 for equity awards— — 3,829 — — 3,829 Stock issued under employee incentive plans75,020 1 1,505 — — 1,506 BALANCE— March 31, 202427,596,140 $276 $327,182 $1,906,769 $(365,024)$1,869,203 

See accompanying notes to the consolidated financial statements.

6

LGI HOMES, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(In thousands)

 Three Months Ended March 31, 20252024Cash flows from operating activities:Net income$3,994 $17,053 Adjustments to reconcile net income to net cash used in operating activities:Equity in income of unconsolidated entities(875)(2,043)Distributions of earnings from unconsolidated entities3,979 1,796 Depreciation and amortization861 673 Loss on disposal of assets2,284 — Compensation expense for equity awards2,625 3,829 Deferred income taxes1,117 894 Changes in assets and liabilities:Accounts receivable6,992 14,169 Real estate inventory(186,583)(139,593)Pre-acquisition costs and deposits4,014 (1,410)Other assets43,763 7,216 Accounts payable18,591 14,539 Accrued expenses and other liabilities(27,910)(16,616)Net cash used in operating activities(127,148)(99,493)Cash flows from investing activities:Purchases of property and equipment(831)(1,001)Proceeds from sale of assets held for sale— 3,019 Investment in unconsolidated entities(1,497)— Return of capital from unconsolidated entities2,083 — Net cash provided by (used in) investing activities(245)2,018 Cash flows from financing activities:Proceeds from notes payable172,467 172,422 Payments on notes payable(30,000)(39,000)Payments on financing arrangements(8,600)(27,336)Loan issuance costs(210)(97)Proceeds from sale of stock, net of offering expenses1,190 1,506 Stock repurchase(3,051)(10,002)Net cash provided by financing activities131,