Company: LGIH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001580670-25-000058
Chunk: 17

Company: LGI Homes, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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(In thousands)

 Six Months Ended June 30, 20252024Cash flows from operating activities:Net income$35,527 $75,626 Adjustments to reconcile net income to net cash used in operating activities:Equity in income of unconsolidated entities(1,909)(4,988)Distributions of earnings from unconsolidated entities3,695 4,397 Depreciation and amortization1,875 1,450 Loss on disposal of assets2,286 — Compensation expense for equity awards5,451 6,669 Deferred income taxes(1,162)1,121 Changes in assets and liabilities:Accounts receivable(5,879)(1,894)Real estate inventory(286,742)(287,229)Pre-acquisition costs and deposits7,019 (3,651)Other assets43,560 (515)Accounts payable12,773 35,129 Accrued expenses and other liabilities(30,015)(9,098)Net cash used in operating activities(213,521)(182,983)Cash flows from investing activities:Purchases of property and equipment(885)(1,281)Investment in unconsolidated entities(3,431)(1,647)Return of capital from unconsolidated entities6,388 — Net cash provided by (used in) investing activities2,072 (2,928)Cash flows from financing activities:Proceeds from notes payable390,644 349,066 Payments on notes payable(130,000)(99,000)Payments on financing arrangements(17,500)(46,694)Loan issuance costs(3,731)(97)Proceeds from sale of stock, net of offering expenses2,038 2,729 Stock repurchase(23,639)(18,000)Net cash provided by financing activities217,812 188,004 Net increase in cash and cash equivalents6,363 2,093 Cash and cash equivalents, beginning of period53,197 48,978 Cash and cash equivalents, end of period$59,560 $51,071 

See accompanying notes to the consolidated financial statements.

8

LGI HOMES, INC.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

1.     ORGANIZATION AND BASIS OF PRESENTATION

Organization and Description of the BusinessLGI Homes, Inc.,