Company: LGIH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001580670-25-000058
Chunk: 88

Company: LGI Homes, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 88
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 ended June 30, 2025 and 2024, respectively. Cash paid for amounts included in the measurement of lease liabilities for operating leases was $0.6 million and $0.9 million for the six months ended June 30, 2025 and 2024, respectively.  As of June 30, 2025, the weighted-average discount rate was 6.0% and our weighted-average remaining life was 2.0 years. We do not have any significant lease contracts that have not yet commenced at June 30, 2025.The table below shows the future minimum payments under non-cancelable operating leases at June 30, 2025 (in thousands):Year Ending December 31,Operating leases2025$982 20261,799 20271,590 20281,145 2029532 Thereafter397 Total6,445 Lease amount representing interest(750)Present value of lease liabilities$5,695 Bonding and Letters of Credit     We have outstanding letters of credit and performance and surety bonds totaling $431.4 million (including $27.4 million of letters of credit issued under the June 2025 Credit Agreement) and $377.5 million (including $24.5 million of letters of credit issued under the credit agreement then in effect) at June 30, 2025 and December 31, 2024, respectively, related to our obligations for site improvements at various projects. Management does not believe that draws upon the letters of credit, surety bonds or financial guarantees if any, will have a material effect on our consolidated financial position, results of operations or cash flows.Investment in Unconsolidated Entities As of June 30, 2025, we had two equity-method real estate joint ventures and four additional joint ventures engaged primarily to provide services, such as mortgage and insurance, to our homebuyers.  As of June 30, 2025 and December 31, 2024, we have a total of $23.5 million and $28.3 million, respectively, within other assets on the balance sheet relating to our investment in joint ventures associated with our operations.  Contributions into the unconsolidated entities are for the use of investing in certain real estate transactions and residential mortgage services, respectively. Income associated with our investment in unconsolidated entities during the three and six months ended June 30, 2025 was $1.0 million and $1.