Company: LGIH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001580670-25-000016
Chunk: 124

Company: LGI Homes, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 124
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037,228 

See accompanying notes to the consolidated financial statements.

55

LGI HOMES, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS 

(In thousands)

 For the Year Ended December 31, 202420232022   Cash flows from operating activities:Net income$196,071 $199,227 $326,567 Adjustments to reconcile net income to net cash used in operating activities:Equity in income of unconsolidated entities(13,302)(12,834)(5,507)Distributions of earnings from unconsolidated entities14,372 14,825 4,593 Depreciation and amortization3,108 2,408 1,576 Gain on sale of interest rate cap— — (7,055)Gain on disposal of assets(14,013)(1,634)(2,206)Compensation expense for equity awards10,483 8,926 9,188 Deferred income taxes(1,108)(1,977)12 Changes in assets and liabilities:Accounts receivable12,602 (16,176)32,766 Real estate inventory(365,889)(255,518)(823,919)Pre-acquisition costs and deposits(5,695)(5,322)15,671 Other assets3,851 23,033 8,696 Accounts payable1,655 6,330 11,115 Accrued expenses and other liabilities14,126 (18,256)58,052 Net cash used in operating activities(143,739)(56,968)(370,451)Cash flows from investing activities:Purchases of property and equipment(1,952)(1,443)(1,187)Proceeds from sale of property and equipment25,441 — — Investment in  unconsolidated entities(7,869)(17,889)(5,016)Return of capital from unconsolidated entities— 5,684 235 Net cash provided by (used in) investing activities15,620 (13,648)(5,968)Cash flows from financing activities:Proceeds from notes payable992,313 887,283 618,910 Payments on notes payable(760,000)(746,000)(308,000)Proceeds from financing arrangements— 50,402 149,526 Payments on financing arrangements(67,850)(95