Company: LGIH
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001580670-25-000076
Chunk: 22

Company: LGI Homes, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 2028; interest paid semi-annually at 8.750%400,000 400,000 4.000% Senior Notes due July 15, 2029; interest paid semi-annually at 4.000%300,000 300,000 7.000% Senior Notes due November 15, 2032; interest paid semi-annually at 7.000%400,000 400,000 Loan payable under the Loan Agreement maturing on July 8, 2030; interest paid monthly at 6.44%50,000 — Net debt issuance costs(22,163)(21,228)Total notes payable$1,751,427 $1,480,718 

Capitalized Interest Interest activity, including other financing costs, for notes payable and financing arrangements for the periods presented is as follows (in thousands):Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Interest incurred$32,711 $30,544 $95,236 $89,130 Less: Amounts capitalized(32,711)(30,544)(95,236)(89,130)Interest expense$— $— $— $— Cash paid for interest$19,344 $23,110 $77,770 $79,925 

Included in interest incurred was amortization of deferred financing costs and applicable discounts for notes payable and financing arrangements of $2.4 million and $3.1 million for the three months ended September 30, 2025 and 2024, respectively, and $7.8 million and $11.5 million for the nine months ended September 30, 2025 and 2024, respectively.

5.     INCOME TAXES

We file U.S. and state income tax returns in jurisdictions with varying statutes of limitations. The statute of limitations with regards to our federal income tax filings is three years. The statute of limitations for our state tax jurisdictions is three to four years depending on the jurisdiction.  In the normal course of business, we are subject to tax audits in various jurisdictions, and such jurisdictions may assess additional income taxes.  We do not expect the outcome of any audit to have a material effect on our consolidated financial statements; however, audit outcomes and the timing of audit adjustments are subject to significant uncertainty.For the three months ended September 30, 202