$LGIH
LGI Homes, Inc.

2021 Q4 Form 10-Q Financial Statement

#000158067021000097 Filed on November 02, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q4
Revenue $801.1M $751.6M $897.4M
YoY Change -10.73% 40.7% 48.17%
Cost Of Revenue $589.4M $549.3M $654.1M
YoY Change -9.9% 37.68% 41.15%
Gross Profit $211.7M $202.3M $243.3M
YoY Change -12.99% 49.59% 71.1%
Gross Profit Margin 26.43% 26.91% 27.11%
Selling, General & Admin $70.41M $64.35M $77.80M
YoY Change -9.5% 11.35% 33.68%
% of Gross Profit 33.26% 31.81% 31.97%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $322.0K $295.0K $200.0K
YoY Change 61.0% 47.5% 100.0%
% of Gross Profit 0.15% 0.15% 0.08%
Operating Expenses $70.41M $64.35M $77.70M
YoY Change -9.39% 11.35% 33.28%
Operating Profit $141.3M $137.9M $165.6M
YoY Change -14.68% 78.12% 97.38%
Interest Expense $0.00
YoY Change
% of Operating Profit 0.0%
Other Income/Expense, Net $2.074M $2.370M $1.000M
YoY Change 107.4% 492.5% 11.11%
Pretax Income $143.4M $127.0M $166.5M
YoY Change -13.91% 63.2% 96.24%
Income Tax $32.08M $26.44M $30.10M
% Of Pretax Income 22.37% 20.82% 18.07%
Net Earnings $111.3M $100.6M $136.4M
YoY Change -18.42% 12.97% 110.31%
Net Earnings / Revenue 13.89% 13.38% 15.2%
Basic Earnings Per Share $4.61 $4.10 $5.45
Diluted Earnings Per Share $4.53 $4.05 $5.34
COMMON SHARES
Basic Shares Outstanding 24.27M shares 24.51M shares 25.10M shares
Diluted Shares Outstanding 24.82M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.51M $46.72M $35.90M
YoY Change 40.71% 0.9% -6.27%
Cash & Equivalents $50.51M $46.72M $35.94M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $2.086B $1.908B $1.570B
Prepaid Expenses
Receivables $57.91M $49.17M $115.9M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.194B $2.004B $1.721B
YoY Change 27.48% 20.96% 7.97%
LONG-TERM ASSETS
Property, Plant & Equipment $16.94M $13.36M $3.618M
YoY Change 368.33% 485.11% 121.69%
Goodwill $12.02M $12.02M $12.02M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $46.90M $57.88M $44.20M
YoY Change 6.11% 43.27% 5.49%
Total Long-Term Assets $157.5M $149.5M $104.8M
YoY Change 50.34% 41.01% 45.91%
TOTAL ASSETS
Total Short-Term Assets $2.194B $2.004B $1.721B
Total Long-Term Assets $157.5M $149.5M $104.8M
Total Assets $2.352B $2.154B $1.826B
YoY Change 28.79% 22.16% 9.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.17M $35.46M $13.70M
YoY Change 3.45% 13.64% 9.6%
Accrued Expenses $103.0M $83.74M $84.50M
YoY Change 21.88% 1.5% 17.52%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $140.9M $143.1M $141.5M
YoY Change -0.39% 24.03% 25.11%
LONG-TERM LIABILITIES
Long-Term Debt $805.2M $666.1M $538.4M
YoY Change 49.56% 7.66% -22.04%
Other Long-Term Liabilities $9.836M $8.553M $7.200M
YoY Change 36.61% -46.88% -58.38%
Total Long-Term Liabilities $815.1M $674.6M $545.6M
YoY Change 49.39% 6.28% -22.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $140.9M $143.1M $141.5M
Total Long-Term Liabilities $815.1M $674.6M $545.6M
Total Liabilities $956.0M $817.8M $687.1M
YoY Change 39.14% 9.01% -16.3%
SHAREHOLDERS EQUITY
Retained Earnings $1.364B $1.253B $934.3M
YoY Change 45.99% 57.0% 53.06%
Common Stock $269.0K $269.0K $267.0K
YoY Change 0.75% 0.75% 1.14%
Preferred Stock
YoY Change
Treasury Stock (at cost) $259.9M $203.8M $66.14M
YoY Change 293.0% 312.67% 266.29%
Treasury Stock Shares 3.047M shares 2.668M shares 1.758M shares
Shareholders Equity $1.396B $1.336B $1.139B
YoY Change
Total Liabilities & Shareholders Equity $2.352B $2.154B $1.826B
YoY Change 28.79% 22.16% 9.6%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q4
OPERATING ACTIVITIES
Net Income $111.3M $100.6M $136.4M
YoY Change -18.42% 12.97% 110.31%
Depreciation, Depletion And Amortization $322.0K $295.0K $200.0K
YoY Change 61.0% 47.5% 100.0%
Cash From Operating Activities -$79.39M -$38.77M $89.20M
YoY Change -189.0% 17.11% 43.18%
INVESTING ACTIVITIES
Capital Expenditures -$88.00K -$502.0K -$1.500M
YoY Change -94.13% -16.33% 650.0%
Acquisitions
YoY Change
Other Investing Activities -$474.0K -$39.56M -$1.900M
YoY Change -75.05%
Cash From Investing Activities -$562.0K -$40.07M -$3.300M
YoY Change -82.97% 6577.67% 1550.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 83.75M 13.84M -96.20M
YoY Change -187.05% -55.2% 58.22%
NET CHANGE
Cash From Operating Activities -79.39M -38.77M 89.20M
Cash From Investing Activities -562.0K -40.07M -3.300M
Cash From Financing Activities 83.75M 13.84M -96.20M
Net Change In Cash 3.797M -64.99M -10.30M
YoY Change -136.86% 2220.96% -892.31%
FREE CASH FLOW
Cash From Operating Activities -$79.39M -$38.77M $89.20M
Capital Expenditures -$88.00K -$502.0K -$1.500M
Free Cash Flow -$79.30M -$38.26M $90.70M
YoY Change -187.43% 17.73% 45.12%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Central Index Key
EntityCentralIndexKey
0001580670
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
dei Document Fiscal Period Focus
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dei Amendment Flag
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false
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2021-09-30
dei Document Transition Report
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dei Entity File Number
EntityFileNumber
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dei Entity Registrant Name
EntityRegistrantName
LGI HOMES, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
46-3088013
dei Entity Address Address Line1
EntityAddressAddressLine1
1450 Lake Robbins Drive,
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 430,
dei Entity Address City Or Town
EntityAddressCityOrTown
The Woodlands,
dei Entity Address State Or Province
EntityAddressStateOrProvince
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dei Entity Address Postal Zip Code
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dei City Area Code
CityAreaCode
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dei Local Phone Number
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362-8998
dei Security12b Title
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Common Stock, par value $0.01 per share
dei Trading Symbol
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dei Security Exchange Name
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CY2021Q3 us-gaap Product Warranty Accrual
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CY2020Q3 us-gaap Product Warranty Accrual
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2200000 USD
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us-gaap Income Taxes Paid
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us-gaap Income Taxes Paid
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166393 shares
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24824320 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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25257053 shares
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25030161 shares
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CY2021Q3 us-gaap Earnings Per Share Basic
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4.10
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3.55
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12.85
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CY2021Q3 us-gaap Earnings Per Share Diluted
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3.52
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12.72
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131 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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3629 shares
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1561 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
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1
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1047124000 USD
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CY2021Q3 lgih Lots Under Purchase Options Recorded
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43338
CY2020Q4 lgih Lots Under Purchase Options Recorded
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26236
CY2021Q3 lgih Refundable Land Deposits Of Purchase Contractsof Finished Lots
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25100000 USD
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24000000 USD
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
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4600000 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
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4900000 USD
CY2021Q3 us-gaap Operating Lease Liability
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4800000 USD
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5300000 USD
CY2021Q3 us-gaap Operating Lease Cost
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500000 USD
CY2020Q3 us-gaap Operating Lease Cost
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400000 USD
us-gaap Operating Lease Cost
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1300000 USD
us-gaap Operating Lease Cost
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1200000 USD
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P4Y3M18D
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1200000 USD
us-gaap Operating Lease Payments
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700000 USD
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.0520
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346000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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1218000 USD
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1061000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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818000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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698000 USD
CY2021Q3 lgih Lessee Operating Lease Liability To Be Paid After Year Four
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1664000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
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5805000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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961000 USD
CY2021Q3 us-gaap Operating Lease Liability
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4844000 USD
CY2021Q3 lgih Lettersof Credit Surety Bondsand Other Financial Guarantees
LettersofCreditSuretyBondsandOtherFinancialGuarantees
199700000 USD
CY2020Q4 lgih Lettersof Credit Surety Bondsand Other Financial Guarantees
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143800000 USD
us-gaap Payments To Acquire Limited Partnership Interests
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5300000 USD
us-gaap Payments To Acquire Limited Partnership Interests
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3900000 USD
us-gaap Number Of Operating Segments
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7 business
us-gaap Number Of Reportable Segments
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5 home
CY2021Q3 us-gaap Revenues
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751608000 USD
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534202000 USD
us-gaap Revenues
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2249073000 USD
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1470531000 USD
CY2021Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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126994000 USD
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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77815000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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399391000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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201301000 USD
CY2021Q3 us-gaap Assets
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2153557000 USD
CY2020Q4 us-gaap Assets
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1826087000 USD

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