$LGIH
LGI Homes, Inc.

2013 Q4 Form 10-K Financial Statement

#000144530514001234 Filed on March 31, 2014

View on sec.gov

Income Statement

Concept 2013 Q4 2012 Q4 2012 Q3
Revenue $65.50M $23.80M $23.60M
YoY Change 175.21%
Cost Of Revenue $52.10M $17.60M $16.70M
YoY Change 196.02%
Gross Profit $12.93M $5.549M $6.152M
YoY Change 133.09%
Gross Profit Margin 19.75% 23.32% 26.07%
Selling, General & Admin $11.20M $4.400M $3.700M
YoY Change 154.55%
% of Gross Profit 86.59% 79.29% 60.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $100.0K $100.0K $0.00
YoY Change 0.0%
% of Gross Profit 0.77% 1.8% 0.0%
Operating Expenses $11.20M $4.300M $3.600M
YoY Change 160.47%
Operating Profit $1.734M $1.249M $2.552M
YoY Change 38.83%
Interest Expense $1.400M $400.0K $500.0K
YoY Change 250.0%
% of Operating Profit 80.74% 32.03% 19.59%
Other Income/Expense, Net $0.00 $100.0K $100.0K
YoY Change -100.0%
Pretax Income $9.917M $2.390M $3.782M
YoY Change 314.94%
Income Tax $676.0K $100.0K $0.00
% Of Pretax Income 6.82% 4.18% 0.0%
Net Earnings $9.131M $2.332M $3.655M
YoY Change 291.55%
Net Earnings / Revenue 13.94% 9.8% 15.49%
Basic Earnings Per Share $0.34
Diluted Earnings Per Share $0.34 $118.6K $190.7K
COMMON SHARES
Basic Shares Outstanding 20.76M shares
Diluted Shares Outstanding 20.83M shares

Balance Sheet

Concept 2013 Q4 2012 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.10M
YoY Change
Cash & Equivalents $54.07M $7.070M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $142.0M
Prepaid Expenses
Receivables $5.400M
Other Receivables $0.00
Total Short-Term Assets $201.5M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $845.0K $719.4K
YoY Change 17.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $4.446M
YoY Change -100.0%
Other Assets $5.500M
YoY Change
Total Long-Term Assets $19.51M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $201.5M
Total Long-Term Assets $19.51M
Total Assets $221.0M $45.56M
YoY Change 385.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.00M
YoY Change
Accrued Expenses $4.200M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $35.50M
YoY Change
Total Short-Term Liabilities $55.30M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $1.400M
YoY Change
Total Long-Term Liabilities $1.400M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $55.30M
Total Long-Term Liabilities $1.400M
Total Liabilities $56.64M $20.35M
YoY Change 178.38%
SHAREHOLDERS EQUITY
Retained Earnings $7.110M
YoY Change
Common Stock $208.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change
Treasury Stock Shares 0.000 shares
Shareholders Equity $164.4M $25.21M
YoY Change
Total Liabilities & Shareholders Equity $221.0M $45.56M
YoY Change 385.14%

Cashflow Statement

Concept 2013 Q4 2012 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income $9.131M $2.332M $3.655M
YoY Change 291.55%
Depreciation, Depletion And Amortization $100.0K $100.0K $0.00
YoY Change 0.0%
Cash From Operating Activities -$30.20M -$2.100M -$800.0K
YoY Change 1338.1%
INVESTING ACTIVITIES
Capital Expenditures -$200.0K -$100.0K -$200.0K
YoY Change 100.0%
Acquisitions
YoY Change
Other Investing Activities -$29.90M -$1.900M $0.00
YoY Change 1473.68%
Cash From Investing Activities -$30.00M -$2.000M -$200.0K
YoY Change 1400.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 104.8M 2.700M 2.300M
YoY Change 3781.48%
NET CHANGE
Cash From Operating Activities -30.20M -2.100M -800.0K
Cash From Investing Activities -30.00M -2.000M -200.0K
Cash From Financing Activities 104.8M 2.700M 2.300M
Net Change In Cash 44.60M -1.400M 1.300M
YoY Change -3285.71%
FREE CASH FLOW
Cash From Operating Activities -$30.20M -$2.100M -$800.0K
Capital Expenditures -$200.0K -$100.0K -$200.0K
Free Cash Flow -$30.00M -$2.000M -$600.0K
YoY Change 1400.0%

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IncomeTaxesPaid
115872 USD
CY2012 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1669644 USD
CY2011 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-6403 USD
CY2013 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
5827258 USD
CY2011 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
429827 USD
CY2013 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3870924 USD
CY2012 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
204905 USD
CY2013 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
4031268 USD
CY2012 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
1145343 USD
CY2011 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-958171 USD
CY2012 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
634728 USD
CY2013 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
-264908 USD
CY2011 us-gaap Increase Decrease In Due From Related Parties
IncreaseDecreaseInDueFromRelatedParties
147921 USD
CY2011 us-gaap Increase Decrease In Earnest Money Deposits Outstanding
IncreaseDecreaseInEarnestMoneyDepositsOutstanding
241041 USD
CY2012 us-gaap Increase Decrease In Earnest Money Deposits Outstanding
IncreaseDecreaseInEarnestMoneyDepositsOutstanding
425802 USD
CY2013 us-gaap Increase Decrease In Earnest Money Deposits Outstanding
IncreaseDecreaseInEarnestMoneyDepositsOutstanding
2705418 USD
CY2011 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-7751795 USD
CY2012 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
15963517 USD
CY2013 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
74595550 USD
CY2013 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-21218 USD
CY2012 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
311595 USD
CY2011 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
898550 USD
CY2013Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
70675 shares
CY2013Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
12727608 USD
CY2012Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
0 USD
CY2013 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
1326976 USD
CY2012 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
822691 USD
CY2011 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
1226142 USD
CY2012 us-gaap Interest Costs Incurred
InterestCostsIncurred
823925 USD
CY2013 us-gaap Interest Costs Incurred
InterestCostsIncurred
1377922 USD
CY2011 us-gaap Interest Costs Incurred
InterestCostsIncurred
1254294 USD
CY2012 us-gaap Interest Expense
InterestExpense
1234 USD
CY2013 us-gaap Interest Expense
InterestExpense
50946 USD
CY2011 us-gaap Interest Expense
InterestExpense
28152 USD
CY2013 us-gaap Interest Paid
InterestPaid
1220334 USD
CY2012 us-gaap Interest Paid
InterestPaid
790058 USD
CY2011 us-gaap Interest Paid
InterestPaid
1274708 USD
CY2013Q4 us-gaap Inventory Finished Homes
InventoryFinishedHomes
28470007 USD
CY2012Q4 us-gaap Inventory Finished Homes
InventoryFinishedHomes
10992251 USD
CY2012Q4 us-gaap Inventory Homes Under Construction
InventoryHomesUnderConstruction
8045848 USD
CY2013Q4 us-gaap Inventory Homes Under Construction
InventoryHomesUnderConstruction
27722361 USD
CY2012Q4 us-gaap Inventory Operative Builders
InventoryOperativeBuilders
28489191 USD
CY2013Q4 us-gaap Inventory Operative Builders
InventoryOperativeBuilders
141982744 USD
CY2012Q4 us-gaap Inventory Operative Builders Other
InventoryOperativeBuildersOther
912461 USD
CY2013Q4 us-gaap Inventory Operative Builders Other
InventoryOperativeBuildersOther
3784295 USD
CY2013Q4 us-gaap Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
82006081 USD
CY2012Q4 us-gaap Inventory Real Estate Land And Land Development Costs
InventoryRealEstateLandAndLandDevelopmentCosts
8538631 USD
CY2012Q4 us-gaap Land Under Purchase Options Recorded
LandUnderPurchaseOptionsRecorded
963500 USD
CY2013Q4 us-gaap Land Under Purchase Options Recorded
LandUnderPurchaseOptionsRecorded
2977050 USD
CY2012Q4 us-gaap Liabilities
Liabilities
20345174 USD
CY2013Q4 us-gaap Liabilities
Liabilities
56635633 USD
CY2012Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
45556151 USD
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
221009584 USD
CY2011 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-7970182 USD
CY2011 us-gaap Net Income Loss
NetIncomeLoss
3350419 USD
CY2012 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
1803027 USD
CY2013 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
3298672 USD
CY2011 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
1538293 USD
CY2012Q4 us-gaap Minority Interest
MinorityInterest
0 USD
CY2013 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
132746636 USD
CY2013 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2012-04-30
CY2013Q4 us-gaap Loans Receivable Basis Spread On Variable Rate
LoansReceivableBasisSpreadOnVariableRate
0.0024
CY2012Q4 us-gaap Loans Receivable Basis Spread On Variable Rate
LoansReceivableBasisSpreadOnVariableRate
0.0031
CY2013Q4 us-gaap Long Term Debt
LongTermDebt
35535260 USD
CY2012Q4 us-gaap Long Term Debt
LongTermDebt
14968762 USD
CY2013Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
35500000 USD
CY2012Q4 us-gaap Malpractice Loss Contingency Letters Of Credit And Surety Bonds
MalpracticeLossContingencyLettersOfCreditAndSuretyBonds
183103 USD
CY2013Q4 us-gaap Malpractice Loss Contingency Letters Of Credit And Surety Bonds
MalpracticeLossContingencyLettersOfCreditAndSuretyBonds
353388 USD
CY2011Q4 us-gaap Malpractice Loss Contingency Letters Of Credit And Surety Bonds
MalpracticeLossContingencyLettersOfCreditAndSuretyBonds
366205 USD
CY2012 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9262100 USD
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2645443 USD
CY2011 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1735690 USD
CY2013 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-31258894 USD
CY2011 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
9554776 USD
CY2013 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-54488480 USD
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4653369 USD
CY2012 us-gaap Net Income Loss
NetIncomeLoss
9705129 USD
CY2013 us-gaap Net Income Loss
NetIncomeLoss
22327073 USD
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
2332000 USD
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
2384000 USD
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
1334000 USD
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
3655000 USD
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
9131000 USD
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
2450000 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
5158000 USD
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
5588000 USD
CY2013 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-589818 USD
CY2012 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
162969 USD
CY2011 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1161986 USD
CY2012 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1
USD
CY2013 us-gaap Noncash Or Part Noncash Divestiture Amount Of Consideration Received1
NoncashOrPartNoncashDivestitureAmountOfConsiderationReceived1
315084 USD
CY2013 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
460000 USD
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
431000 USD
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
407000 USD
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
7000 USD
CY2012Q4 us-gaap Other Assets
OtherAssets
1884100 USD
CY2013Q4 us-gaap Other Assets
OtherAssets
1964631 USD
CY2013 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
9851089 USD
CY2011 us-gaap Operating Income Loss
OperatingIncomeLoss
4461771 USD
CY2013 us-gaap Operating Income Loss
OperatingIncomeLoss
16384070 USD
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1984000 USD
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
381000 USD
CY2013Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
298000 USD
CY2012 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
172785 USD
CY2011 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
203677 USD
CY2013 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
24239 USD
CY2011 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
1186188 USD
CY2013 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
2728563 USD
CY2012 us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
2401013 USD
CY2012 us-gaap Partners Capital Account Contributions
PartnersCapitalAccountContributions
6650000 USD
CY2011 us-gaap Partners Capital Account Contributions
PartnersCapitalAccountContributions
4764175 USD
CY2013 us-gaap Partners Capital Account Contributions
PartnersCapitalAccountContributions
18332250 USD
CY2012 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
5942146 USD
CY2013 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
9111206 USD
CY2011 us-gaap Partners Capital Account Distributions
PartnersCapitalAccountDistributions
6407500 USD
CY2013Q3 us-gaap Payments For Participation Liabilities
PaymentsForParticipationLiabilities
200000 USD
CY2011 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
451214 USD
CY2012 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
434886 USD
CY2013 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
684448 USD
CY2012 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
4134884 USD
CY2012Q4 lgih Commitment Under Land Purchase Option And Deposit Agreement
CommitmentUnderLandPurchaseOptionAndDepositAgreement
33057761 USD
CY2013Q4 lgih Commitment Under Land Purchase Option And Deposit Agreement
CommitmentUnderLandPurchaseOptionAndDepositAgreement
111114993 USD
CY2012 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 USD
CY2011 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
404175 USD
CY2013 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
15797250 USD
CY2011 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
26156379 USD
CY2013 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
72931978 USD
CY2012 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
46364607 USD
CY2011 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
14713 USD
CY2011 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
5770000 USD
CY2013 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
9111206 USD
CY2013Q4 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
5800000 USD
CY2012 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2013 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
30139023 USD
CY2011 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2011 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
1299189 USD
CY2012 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
2244047 USD
CY2013 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
927977 USD
CY2011 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
637500 USD
CY2013 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
CY2012 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
1807262 USD
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2013Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
291243 USD
CY2012Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
34382 USD
CY2012Q4 us-gaap Prepaid Insurance
PrepaidInsurance
286356 USD
CY2013Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1205018 USD
CY2011 us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
4360000 USD
CY2012 us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
6650000 USD
CY2013 us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
2535000 USD
CY2013 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
457907 USD
CY2012 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
33313 USD
CY2011 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
0 USD
CY2011 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 USD
CY2012 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 USD
CY2013 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
102635396 USD
CY2013 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
34647 USD
CY2012 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
177 USD
CY2013Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
630000 USD
CY2011Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
275000 USD
CY2012Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
450000 USD
CY2012 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
0 USD
CY2013 us-gaap Product Warranty Accrual Additions From Business Acquisition
ProductWarrantyAccrualAdditionsFromBusinessAcquisition
30000 USD
CY2012 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
234057 USD
CY2013 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
613734 USD
CY2013 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
763734 USD
CY2012 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
409057 USD
CY2012 us-gaap Profit Loss
ProfitLoss
9868098 USD
CY2011 us-gaap Profit Loss
ProfitLoss
4512405 USD
CY2013 us-gaap Profit Loss
ProfitLoss
21737255 USD
us-gaap Profit Loss
ProfitLoss
14627129 USD
CY2013Q4 us-gaap Profit Loss
ProfitLoss
7110126 USD
CY2012Q3 us-gaap Profit Loss
ProfitLoss
3750000 USD
CY2012Q1 us-gaap Profit Loss
ProfitLoss
1402000 USD
CY2012Q2 us-gaap Profit Loss
ProfitLoss
2384000 USD
CY2012Q4 us-gaap Profit Loss
ProfitLoss
2332000 USD
CY2013Q3 us-gaap Profit Loss
ProfitLoss
5150000 USD
CY2013Q2 us-gaap Profit Loss
ProfitLoss
5013000 USD
CY2013Q4 us-gaap Profit Loss
ProfitLoss
9124000 USD
CY2013Q1 us-gaap Profit Loss
ProfitLoss
2450000 USD
CY2012 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
177 USD
CY2013 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
29233 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1521439 USD
CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1355956 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
719390 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
844707 USD
CY2013 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
52041782 USD
CY2011 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
32483236 USD
CY2012 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
37810361 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
7110126 USD
CY2013 lgih Effective Income Tax Rate Reconciliation Changein Enacted Tax Rate Current Amount
EffectiveIncomeTaxRateReconciliationChangeinEnactedTaxRateCurrentAmount
-5256111 USD
CY2013Q4 lgih Effective Income Tax Rate Reconciliation Changein Enacted Tax Rate Current Amount
EffectiveIncomeTaxRateReconciliationChangeinEnactedTaxRateCurrentAmount
0 USD
CY2013Q4 lgih Effective Income Tax Rate Reconciliation Changein Enacted Tax Rate Current Percent
EffectiveIncomeTaxRateReconciliationChangeinEnactedTaxRateCurrentPercent
0.000
CY2012 us-gaap Revenues
Revenues
76221041 USD
CY2013 us-gaap Revenues
Revenues
162795702 USD
CY2011 us-gaap Revenues
Revenues
50456159 USD
CY2013Q4 us-gaap Sale Of Stock Percentage Of Ownership Before Transaction
SaleOfStockPercentageOfOwnershipBeforeTransaction
0.5
CY2011 us-gaap Sales Of Real Estate
SalesOfRealEstate
49269971 USD
CY2012 us-gaap Sales Of Real Estate
SalesOfRealEstate
73820028 USD
CY2013 us-gaap Sales Of Real Estate
SalesOfRealEstate
160067139 USD
CY2012Q1 us-gaap Sales Of Real Estate
SalesOfRealEstate
12333000 USD
CY2012Q4 us-gaap Sales Of Real Estate
SalesOfRealEstate
23109000 USD
CY2012Q2 us-gaap Sales Of Real Estate
SalesOfRealEstate
15527000 USD
CY2012Q3 us-gaap Sales Of Real Estate
SalesOfRealEstate
22851000 USD
CY2013Q3 us-gaap Sales Of Real Estate
SalesOfRealEstate
37035000 USD
CY2013Q2 us-gaap Sales Of Real Estate
SalesOfRealEstate
36519000 USD
CY2013Q4 us-gaap Sales Of Real Estate
SalesOfRealEstate
65034000 USD
CY2013Q1 us-gaap Sales Of Real Estate
SalesOfRealEstate
21479000 USD
CY2013 lgih Effective Income Tax Rate Reconciliation Changein Enacted Tax Rate Deferred Amount
EffectiveIncomeTaxRateReconciliationChangeinEnactedTaxRateDeferredAmount
245513 USD
CY2013Q4 lgih Effective Income Tax Rate Reconciliation Changein Enacted Tax Rate Deferred Percent
EffectiveIncomeTaxRateReconciliationChangeinEnactedTaxRateDeferredPercent
0.032
CY2012Q4 us-gaap Security Deposit
SecurityDeposit
299132 USD
CY2013Q4 us-gaap Security Deposit
SecurityDeposit
468370 USD
CY2012 us-gaap Selling Expense
SellingExpense
7269331 USD
CY2011 us-gaap Selling Expense
SellingExpense
4884310 USD
CY2013 us-gaap Selling Expense
SellingExpense
15768575 USD
CY2012Q4 lgih Community Lots
CommunityLots
974
CY2011 us-gaap Share Based Compensation
ShareBasedCompensation
0 USD
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
0 USD
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
42814 USD
CY2013Q4 us-gaap Share Price
SharePrice
11.00
CY2013 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
4500000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
25210977 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
164373951 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
25210977 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
14635025 USD
CY2010Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11765945 USD
CY2013 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, and these differences could have a significant impact on the financial statements. The significant accounting estimates include real estate inventory and cost of sales, impairment of real estate inventory and property and equipment, warranty reserves and loss contingencies.</font></div></div>
CY2013Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20834124 shares
CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20763449 shares
CY2013 lgih Business Acquisition Pro Forma Costof Sales
BusinessAcquisitionProFormaCostofSales
179831000 USD
CY2012 lgih Business Acquisition Pro Forma Costof Sales
BusinessAcquisitionProFormaCostofSales
104229000 USD
CY2013 lgih Business Acquisition Pro Forma Income Loss Before Income Taxes
BusinessAcquisitionProFormaIncomeLossBeforeIncomeTaxes
22922000 USD
CY2012 lgih Business Acquisition Pro Forma Income Loss Before Income Taxes
BusinessAcquisitionProFormaIncomeLossBeforeIncomeTaxes
18613000 USD
CY2013Q4 lgih Business Combination Pro Forma Information Costof Sales Actual
BusinessCombinationProFormaInformationCostofSalesActual
18159000 USD
CY2013 lgih Effective Income Tax Rate Reconciliation Changein Enacted Tax Rate Current Percent
EffectiveIncomeTaxRateReconciliationChangeinEnactedTaxRateCurrentPercent
-0.231
CY2013Q4 lgih Effective Income Tax Rate Reconciliation Changein Enacted Tax Rate Deferred Amount
EffectiveIncomeTaxRateReconciliationChangeinEnactedTaxRateDeferredAmount
245513 USD
CY2012 lgih Deferred Income Tax Expense Benefit Including Adjustments
DeferredIncomeTaxExpenseBenefitIncludingAdjustments
0 USD
CY2013 lgih Deferred Income Tax Expense Benefit Including Adjustments
DeferredIncomeTaxExpenseBenefitIncludingAdjustments
-287781 USD
CY2011 lgih Deferred Income Tax Expense Benefit Including Adjustments
DeferredIncomeTaxExpenseBenefitIncludingAdjustments
0 USD
CY2013 lgih Effective Income Tax Rate Reconciliation Changein Enacted Tax Rate Deferred Percent
EffectiveIncomeTaxRateReconciliationChangeinEnactedTaxRateDeferredPercent
0.011
CY2013Q4 lgih Effective Income Tax Rate Reconciliation Nondeductible Expense And Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseAndOtherReconcilingItemsPercent
0.001
CY2013 lgih Effective Income Tax Rate Reconciliation Nondeductible Expense And Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseAndOtherReconcilingItemsPercent
0.001
CY2013Q4 lgih Effective Income Tax Reconciliation Nondeductible Expenseand Other Reconciling Items Amount
EffectiveIncomeTaxReconciliationNondeductibleExpenseandOtherReconcilingItemsAmount
517 USD
CY2013 lgih Effective Income Tax Reconciliation Nondeductible Expenseand Other Reconciling Items Amount
EffectiveIncomeTaxReconciliationNondeductibleExpenseandOtherReconcilingItemsAmount
517 USD
CY2013 lgih Employees Eligibility Age For Participating In Profit Sharing Plan
EmployeesEligibilityAgeForParticipatingInProfitSharingPlan
P21Y
CY2013Q4 lgih Insurance Cost Excess Liability Limits
InsuranceCostExcessLiabilityLimits
3000000 USD
CY2013 lgih Longterm Debt Period Collateral May Remainin Borrowing Base
LongtermDebtPeriodCollateralMayRemaininBorrowingBase
P1Y
CY2013Q4 lgih Lots Under Purchase Options Recorded
LotsUnderPurchaseOptionsRecorded
8214 lot
CY2012Q4 lgih Lots Under Purchase Options Recorded
LotsUnderPurchaseOptionsRecorded
2242 lot
CY2013 lgih Minimum Service Period For Employees To Be Covered Under Profit Sharing Plan
MinimumServicePeriodForEmployeesToBeCoveredUnderProfitSharingPlan
P90D
CY2013Q4 lgih Number Of Investments In Variable Interest Entities
NumberOfInvestmentsInVariableInterestEntities
2
CY2013Q4 lgih Number Of Secured Revolving Credit Facilities
NumberOfSecuredRevolvingCreditFacilities
2 credit_facility
CY2013 lgih Numberof Homebuilding Businesses
NumberofHomebuildingBusinesses
1 business
CY2012Q4 lgih Other Other Assets
OtherOtherAssets
14230 USD
CY2013Q4 lgih Other Other Assets
OtherOtherAssets
0 USD
CY2013Q4 lgih Related Party Consulting Agreement Period
RelatedPartyConsultingAgreementPeriod
P3Y
CY2013Q4 lgih Related Party Transaction Consulting Agreement Amountof Payable Per Year
RelatedPartyTransactionConsultingAgreementAmountofPayablePerYear
100000 USD
CY2013 lgih Sharebased Compensation Settlementof Accrued Bonuses
SharebasedCompensationSettlementofAccruedBonuses
1026465 USD
CY2012 lgih Sharebased Compensation Settlementof Accrued Bonuses
SharebasedCompensationSettlementofAccruedBonuses
0 USD
CY2011 lgih Sharebased Compensation Settlementof Accrued Bonuses
SharebasedCompensationSettlementofAccruedBonuses
0 USD
CY2012Q4 lgih Unsold Lots
UnsoldLots
264
CY2013 dei Amendment Flag
AmendmentFlag
false
CY2013 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2013 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2013 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013 dei Document Period End Date
DocumentPeriodEndDate
2013-12-31
CY2013 dei Document Type
DocumentType
10-K
CY2013 dei Entity Central Index Key
EntityCentralIndexKey
0001580670
CY2014Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
20773449 shares
CY2013 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2014Q1 dei Entity Public Float
EntityPublicFloat
357303323 USD
CY2013 dei Entity Registrant Name
EntityRegistrantName
LGI HOMES, INC.
CY2013 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

Files In Submission

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