Company: LGIH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001580670-25-000016
Chunk: 20

Company: LGI Homes, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 20
---
% 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 — Net debt issuance costs(21,228)(21,301)Total notes payable$1,480,718 $1,248,332 As of December 31, 2024, the annual aggregate maturities of notes payable during each of the next five fiscal years are as follows (in thousands):Amount2025$40,028 2026— 2027— 2028761,918 2029300,000 Thereafter400,000 Total notes payable1,501,946 Less: Net debt issuance costs(21,228)           Net notes payable$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):   Year Ended December 31,   202420232022Interest incurred$119,009 $87,604 $49,281 Less: Amounts capitalized(119,009)(87,604)(49,281)Interest expense$— $— $— Cash paid for interest$112,984 $80,963 $41,593 

64

Included in interest incurred was amortization of deferred financing costs and applicable discounts for notes payable and financing arrangements of $14.0 million, $13.6 million and $5.4 million for the years ended December 31, 2024, 2023 and 2022, respectively. 

7.     INCOME TAXES

The provision for income taxes consisted of the following (in thousands):Year ended December 31,  202420232022Current:   Federal$53,114 $54,013 $77,922   State10,836 10,492 13,615 Current tax provision63,950 64,505 91,537 Deferred:   Federal(931)(1,638)33   State(177)(340)(21)Deferred tax provision (benefit)(1,108)(1,978)12 Total income tax provision$62,842 $62,527 $91,549  Income