Company: UHG
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001830188-25-000065
Chunk: 38

Company: United Homes Group, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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5$14,295 $2,640 $90 $881 

Note 5 - InventoriesThe following table and descriptions summarize the Company’s inventory (in thousands):June 30, 2025December 31, 2024Pre-acquisition land costs$8,528 $4,737 Developed lots30,137 15,491 Homes under construction48,755 43,982 Finished homes57,034 75,060 Total inventories$144,454 $139,270 The Company capitalizes into inventories interest costs incurred on homes under construction during the construction period until they are substantially complete. A summary of capitalized interest is as follows (in thousands): Three Months Ended June 30,Six Months Ended June 30,2025202420252024Capitalized interest at beginning of the period:$2,616 $2,541 $3,149 $3,026 Interest incurred3,402 5,472 6,831 10,642 Interest expensed:Included in cost of sales(1,632)(1,659)(3,133)(5,172)Directly to interest expense(2,383)(3,578)(4,844)(5,720)Capitalized interest at end of the period:$2,003 $2,776 $2,003 $2,776 

Note 6 - DebtThe following table and descriptions summarize the amounts outstanding under the Company’s syndicated line of credit and term loan (dollars presented in thousands): 

15

June 30, 2025Weighted average interest rateOutstanding Balance Syndicated line of creditWells Fargo Bank7.61 %$17,386 Regions Bank7.61 %14,712 Flagstar Bank7.61 %13,374 United Bank7.61 %10,699 Third Coast Bank7.61 %8,025 Total Syndicated line of credit$64,196 Term loan, net11.59 %$67,314 December 31, 2024Weighted average interest rateOutstanding BalanceSyndicated line of creditWells Fargo Bank8.41 %$13,595 Regions Bank8.41 %11,503 Flagstar Bank8.41 %10,458 United Bank8.41 %8,366 Third Coast Bank8.41 %6,