Company: LGIH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001580670-25-000016
Chunk: 404

Company: LGI Homes, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1A
Chunk 404
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 homebuilding industry (Level 2 measurement).The following table below shows the level and measurement of liabilities at December 31, 2024 and 2023 (in thousands):December 31, 2024December 31, 2023Fair Value HierarchyCarrying ValueEstimated Fair ValueCarrying ValueEstimated Fair Value2028 Senior Notes (1)Level 2$400,000 $436,783 $400,000 $486,306 2029 Senior Notes (1)Level 2$300,000 $274,692 $300,000 $296,381 2032 Senior Notes (1)Level 2$400,000 $421,247 $— $— (1)See Note 6 for more details regarding the offerings of the 2028 Senior Notes, the 2029 Senior Notes and the 2032 Senior Notes.

11.     RETIREMENT BENEFITS

Our employees are eligible to participate in a 401(k) savings plan. Employees are eligible to participate beginning in the quarterly period after completing 30 days of service and attaining the age of 21. Salary deferrals are allowed in amounts up to 100% of an eligible employee’s salary, not to exceed the maximum permitted by law. We may make a discretionary match of up to 100% of the first 4% of an eligible employee’s deferral, not to exceed the maximum allowed by law. For the years ended December 31, 2024, 2023 and 2022, our matching contributions were $4.5 million, $4.4 million and $4.5 million, respectively.

12.     COMMITMENTS AND CONTINGENCIES

ContingenciesIn the ordinary course of doing business, we are subject to claims or proceedings from time to time relating to the purchase, development and sale of real estate and homes and other aspects of our homebuilding operations. Management believes that these claims include usual obligations incurred by real estate developers and residential home builders in the normal course of business. In the opinion of management, these matters will not have a material effect on our consolidated financial position, results of operations or cash flows.We have provided unsecured environmental indemnities to certain lenders and other counterparties. In each case, we have performed due diligence on the potential environmental risks including obtaining an independent environmental review from outside environmental consultants. These indemnities obligate us to reimburse the guaranteed parties for damages related to environmental matters