Company: LGIH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001580670-25-000058
Chunk: 21

Company: LGI Homes, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 accrual are as follows (in thousands):Three Months Ended June 30,Six Months Ended June 30, 2025202420252024Warranty reserves, beginning of period$16,500 $14,000 $16,100 $13,600 Warranty provision(594)2,167 986 3,957 Warranty expenditures(406)(1,467)(1,586)(2,857)Warranty reserves, end of period$15,500 $14,700 $15,500 $14,700 

4.     NOTES PAYABLE

Revolving Credit AgreementOn April 28, 2025, we entered into a Sixth Amendment to Fifth Amended and Restated Credit Agreement with several financial institutions, and Wells Fargo Bank, National Association, as administrative agent, and on June 2, 2025, we entered into a Letter Agreement with several financial institutions, and Wells Fargo Bank, National Association, as administrative agent, in each case which amended the Fifth Amended and Restated Credit Agreement, dated as of April 28, 2021, with several financial institutions, and Wells Fargo Bank, National Association, as administrative agent (as amended through June 2, 2025, the “June 2025 Credit Agreement”). The June 2025 Credit Agreement provides for a $1.1825 billion revolving credit facility, which can be increased at the request of the Company by up to $95.0 million, subject to the terms and conditions of the June 2025 Credit Agreement.  The June 2025 Credit Agreement matures on April 28, 2029 with respect to $972.5 million, or 82.2%, of the $1.1825 billion of commitments thereunder and on April 28, 2028 with respect to 17.8% of the commitments thereunder.  Before each anniversary of the June 2025 Credit Agreement, we may request a one-year extension of its maturity date. The June 2025 Credit Agreement is guaranteed by, among others, each of our subsidiaries that have gross assets of at least $0.5 million, other than subsidiaries whose sole purpose is to own and operate single-family rental homes.The borrowings and letters of credit outstanding under the June 2025 Credit Agreement, together with the outstanding principal balance of our 8.750% Senior Notes due 2028 (the “2028 Senior Notes”), our 4.