Company: LGIH
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001580670-25-000043
Chunk: 74

Company: LGI Homes, Inc.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 74
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 we have a total of $24.6 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 months ended March 31, 2025 and 2024 was $0.9 million and $2.0 million, respectively.

11.     REVENUES

Home Sales RevenuesWe generate revenues primarily by delivering move-in ready entry-level and move-up spec homes sold under our LGI Homes brand and our move-up and luxury series spec homes sold under our Terrata Homes brand. The following table presents our home sales revenues disaggregated by revenue stream (in thousands): Three Months Ended March 31,20252024Retail home sales revenues$296,939 $362,289 Wholesale home sales revenues54,481 28,562 Total home sales revenues$351,420 $390,851 Our home sales revenues are disaggregated by geography, based on our determined reportable segments. See Note 12 for tabular presentation of this information.

12.     SEGMENT INFORMATION

We operate one principal homebuilding business that is organized and reports by division. We have seven operating segments (our Central, Midwest, Southeast, Mid-Atlantic, Northwest, West and Florida divisions) that we aggregate into five qualifying reportable segments at March 31, 2025: our Central, Southeast, Northwest, West, and Florida divisions. These segments reflect the way we evaluate our business performance and manage our operations.  For reporting purposes, our homebuilding operations are aggregated into five reportable segments as follows:Central:        Texas, Oklahoma, MinnesotaSoutheast:    Georgia, Alabama, Tennessee, North Carolina, South Carolina, West Virginia, Maryland, Pennsylvania, VirginiaNorthwest:    Colorado, Washington, OregonWest:        Arizona, New Mexico, Nevada, California, UtahFlorida:        FloridaIn determining the most appropriate reportable segments, we consider operating segments’ economic and other characteristics, including 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