$LGIH
LGI Homes, Inc. Stock $lgih

$lgih Overview Financials Valuation SEC Filings Company Website

2024 Q3 Form 10-Q Financial Statement

#000158067024000037 Filed on July 30, 2024

Income Statement

Concept	2024 Q3	2024 Q2
Revenue	$651.9M	$602.5M
YoY Change	5.56%	-6.63%
Cost Of Revenue	$488.4M	$451.6M
YoY Change	6.46%	-10.28%
Gross Profit	$163.5M	$150.9M
YoY Change	2.95%	6.3%
Gross Profit Margin	25.08%	25.04%
Selling, General & Admin	$83.19M	$83.36M
YoY Change	8.7%	8.47%
% of Gross Profit	50.88%	55.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$830.0K	$777.0K
YoY Change	3.75%	53.86%
% of Gross Profit	0.51%	0.51%
Operating Expenses	$83.19M	$83.36M
YoY Change	8.7%	8.47%
Operating Profit	$80.31M	$67.52M
YoY Change	-2.4%	3.74%
Interest Expense	$0.00	$0.00
YoY Change
% of Operating Profit	0.0%	0.0%
Other Income/Expense, Net	$11.55M	$9.362M
YoY Change	60.38%	48.06%
Pretax Income	$91.85M	$76.88M
YoY Change	2.69%	7.67%
Income Tax	$22.28M	$18.31M
% Of Pretax Income	24.25%	23.82%
Net Earnings	$69.58M	$58.57M
YoY Change	3.78%	10.24%
Net Earnings / Revenue	10.67%	9.72%
Basic Earnings Per Share	$2.96	$2.49
Diluted Earnings Per Share	$2.95	$2.48
COMMON SHARES
Basic Shares Outstanding	23.50M shares	23.57M shares
Diluted Shares Outstanding	23.58M shares	23.60M shares

Balance Sheet

Concept	2024 Q3	2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$60.90M	$51.07M
YoY Change	29.58%	17.85%
Cash & Equivalents	$60.90M	$51.07M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory	$3.394B	$3.360B
Prepaid Expenses
Receivables	$49.02M	$43.21M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$3.504B	$3.455B
YoY Change	15.99%	21.41%
LONG-TERM ASSETS
Property, Plant & Equipment	$62.00M	$56.35M
YoY Change	48.07%	31.69%
Goodwill	$12.02M	$12.02M
YoY Change	0.0%	0.0%
Intangibles
YoY Change
Long-Term Investments	$45.74M	$58.95M
YoY Change	-61.53%	-56.41%
Other Assets	$42.82M	$41.05M
YoY Change	-3.34%	20.33%
Total Long-Term Assets	$322.0M	$247.4M
YoY Change	2.47%	-15.9%
TOTAL ASSETS
Total Short-Term Assets	$3.504B	$3.455B
Total Long-Term Assets	$322.0M	$247.4M
Total Assets	$3.826B	$3.702B
YoY Change	14.72%	17.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$53.31M	$66.75M
YoY Change	-20.78%	12.43%
Accrued Expenses	$134.6M	$210.0M
YoY Change	11.21%	69.57%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$216.8M	$276.7M
YoY Change	3.28%	37.33%
LONG-TERM LIABILITIES
Long-Term Debt	$1.592B	$1.501B
YoY Change	21.61%	26.31%
Other Long-Term Liabilities	$19.89M	$16.85M
YoY Change	50.71%	-8.45%
Total Long-Term Liabilities	$1.612B	$1.501B
YoY Change	21.9%	24.38%
TOTAL LIABILITIES
Total Short-Term Liabilities	$216.8M	$276.7M
Total Long-Term Liabilities	$1.612B	$1.501B
Total Liabilities	$1.829B	$1.778B
YoY Change	19.35%	26.24%
SHAREHOLDERS EQUITY
Retained Earnings	$2.035B	$1.965B
YoY Change	10.74%	11.0%
Common Stock	$276.0K	$276.0K
YoY Change	0.36%	0.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$373.0M	$373.0M
YoY Change	5.07%	5.07%
Treasury Stock Shares
Shareholders Equity	$1.997B	$1.924B
YoY Change
Total Liabilities & Shareholders Equity	$3.826B	$3.702B
YoY Change	14.72%	17.91%

Cashflow Statement

Concept	2024 Q3	2024 Q2
OPERATING ACTIVITIES
Net Income	$69.58M	$58.57M
YoY Change	3.78%	10.24%
Depreciation, Depletion And Amortization	$830.0K	$777.0K
YoY Change	3.75%	53.86%
Cash From Operating Activities	-$17.76M	-$83.49M
YoY Change	-84.62%	-648.01%
INVESTING ACTIVITIES
Capital Expenditures	$64.00K	$280.0K
YoY Change	-87.2%	43.59%
Acquisitions
YoY Change
Other Investing Activities	-$3.649M	-$4.666M
YoY Change	3549.0%	160.38%
Cash From Investing Activities	-$3.713M	-$4.946M
YoY Change	364.13%	148.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	31.31M	90.51M
YoY Change	-73.91%	-802.73%
NET CHANGE
Cash From Operating Activities	-17.76M	-83.49M
Cash From Investing Activities	-3.713M	-4.946M
Cash From Financing Activities	31.31M	90.51M
Net Change In Cash	9.832M	2.075M
YoY Change	165.73%	463.86%
FREE CASH FLOW
Cash From Operating Activities	-$17.76M	-$83.49M
Capital Expenditures	$64.00K	$280.0K
Free Cash Flow	-$17.83M	-$83.77M
YoY Change	-84.63%	-656.98%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	us-gaap	Net Income Loss NetIncomeLoss	75626000	usd
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	4988000	usd
	us-gaap	Equity Method Investment Dividends Or Distributions EquityMethodInvestmentDividendsOrDistributions	4397000	usd
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	1450000	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	5463000	usd
	us-gaap	Increase Decrease In Deferred Income Taxes IncreaseDecreaseInDeferredIncomeTaxes	1681000	usd
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	23022000	usd
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-6435000	usd
	us-gaap	Increase Decrease In Earnest Money Deposits Outstanding IncreaseDecreaseInEarnestMoneyDepositsOutstanding	1213000	usd
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-22854000	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	34078000	usd
	us-gaap	Increase Decrease In Accrued Liabilities And Other Operating Liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities	-32115000	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	92835000	usd
	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	9719000	usd
	us-gaap	Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital	3148000	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-6842000	usd
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	144783000	usd
	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	205000000	usd
	lgih	Proceeds From Land Financing Arrangements ProceedsFromLandFinancingArrangements	42569000	usd
	lgih	Payments On Financing Arrangements PaymentsOnFinancingArrangements	54356000	usd
	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	5487000	usd
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	2834000	usd
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	0	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-74657000	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	11336000	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	31998000	usd
CY2024Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	51071000	usd
CY2023Q2	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	43334000	usd
CY2023Q4	us-gaap	Inventory Operative Builders Other InventoryOperativeBuildersOther	47936000	usd
CY2023Q4	us-gaap	Inventory Homes Under Construction InventoryHomesUnderConstruction	313124000	usd
CY2023Q4	us-gaap	Inventory Finished Homes InventoryFinishedHomes	542996000	usd
CY2023Q4	us-gaap	Inventory Operative Builders InventoryOperativeBuilders	3003189000	usd
CY2023Q4	lgih	Inventory Real Estate Not Owned InventoryRealEstateNotOwned	104459000	usd
CY2023Q4	us-gaap	Inventory Real Estate InventoryRealEstate	3107648000	usd
CY2023Q4	lgih	Land Financing Arrangements LandFinancingArrangements	104459000	usd
CY2023Q4	lgih	Real Estate Inventory Development And Construction Payable RealEstateInventoryDevelopmentAndConstructionPayable	71193000	usd
CY2024Q2	us-gaap	Accrued Income Taxes AccruedIncomeTaxes	9620000	usd
CY2024Q2	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	4894000	usd
CY2023Q4	us-gaap	Other Liabilities OtherLiabilities	12074000	usd
CY2023Q4	us-gaap	Accrued Liabilities And Other Liabilities AccruedLiabilitiesAndOtherLiabilities	271872000	usd
CY2024Q1	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	14000000	usd
CY2023Q1	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	11350000	usd
CY2023Q4	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	13600000	usd
CY2022Q4	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	10750000	usd
CY2024Q2	us-gaap	Product Warranty Accrual Warranties Issued ProductWarrantyAccrualWarrantiesIssued	2167000	usd
CY2023Q2	us-gaap	Product Warranty Accrual Warranties Issued ProductWarrantyAccrualWarrantiesIssued	2378000	usd
	us-gaap	Product Warranty Accrual Warranties Issued ProductWarrantyAccrualWarrantiesIssued	3957000	usd
	us-gaap	Product Warranty Accrual Warranties Issued ProductWarrantyAccrualWarrantiesIssued	4230000	usd
CY2024Q2	us-gaap	Product Warranty Accrual Payments ProductWarrantyAccrualPayments	1467000	usd
CY2023Q2	us-gaap	Product Warranty Accrual Payments ProductWarrantyAccrualPayments	1578000	usd
	us-gaap	Product Warranty Accrual Payments ProductWarrantyAccrualPayments	2857000	usd
	us-gaap	Product Warranty Accrual Payments ProductWarrantyAccrualPayments	2830000	usd
CY2024Q2	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	14700000	usd
CY2023Q2	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	12150000	usd
CY2023Q2	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	12150000	usd
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-182983000	usd
CY2022Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	1642412000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	26962000	usd
CY2023Q1	us-gaap	Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition	206000	usd
CY2023Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	3103000	usd
CY2023Q1	us-gaap	Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures	1546000	usd
CY2023Q1	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	1674229000	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	53134000	usd
CY2023Q2	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	2360000	usd
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	5304000	usd
	us-gaap	Equity Method Investment Dividends Or Distributions EquityMethodInvestmentDividendsOrDistributions	6257000	usd
	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	987000	usd
	us-gaap	Share Based Compensation ShareBasedCompensation	6669000	usd
	us-gaap	Increase Decrease In Deferred Income Taxes IncreaseDecreaseInDeferredIncomeTaxes	-1121000	usd
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	1894000	usd
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	287229000	usd
	us-gaap	Increase Decrease In Earnest Money Deposits Outstanding IncreaseDecreaseInEarnestMoneyDepositsOutstanding	3651000	usd
	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	515000	usd
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	35129000	usd
	us-gaap	Increase Decrease In Accrued Liabilities And Other Operating Liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities	-9098000	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1281000	usd
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	271000	usd
	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	1647000	usd
	us-gaap	Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital	0	usd
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-2928000	usd
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	349066000	usd
	us-gaap	Repayments Of Notes Payable RepaymentsOfNotesPayable	99000000	usd
	lgih	Proceeds From Land Financing Arrangements ProceedsFromLandFinancingArrangements	0	usd
	lgih	Payments On Financing Arrangements PaymentsOnFinancingArrangements	46694000	usd
	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	97000	usd
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	2729000	usd
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	18000000	usd
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	188004000	usd
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	2093000	usd
CY2023Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	48978000	usd
	us-gaap	Use Of Estimates UseOfEstimates	<div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 periods. Actual results could differ from those estimates, and these differences could have a significant impact on the financial statements.</span></div><div style="margin-top:9pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Recently Issued Accounting Pronouncements</span></div><div style="margin-top:6pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”), which is intended to enhance the transparency and decision usefulness of income tax disclosures. This amendment modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation and additional information for reconciling items that meet a quantitative threshold, (2) the amount of income taxes paid (net of refunds received) (disaggregated by federal, state, and foreign taxes) as well as individual jurisdictions in which income taxes paid is equal to or greater than 5 percent of total income taxes paid net of refunds, (3) the income or loss from continuing operations before income tax expense or benefit (disaggregated between domestic and foreign) and (4) income tax expense or benefit from continuing operations (disaggregated by federal, state and foreign). The guidance is effective for annual periods beginning after December 15, 2024, with early adoption permitted for annual financial statements that have not yet been issued or made available for issuance. ASU 2023-09 should be applied on a prospective basis, while retrospective application is permitted. We are currently evaluating the impact that this standard will have on our financial statements.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which is intended to improve reportable segment disclosure requirements, primarily through additional and more detailed information about a reportable segment’s expenses. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The guidance is to be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. We are currently evaluating the impact that this standard will have on our financial statements.</span></div>
CY2024Q2	us-gaap	Inventory Real Estate Land And Land Development Costs InventoryRealEstateLandAndLandDevelopmentCosts	2178433000	usd
CY2023Q4	us-gaap	Inventory Real Estate Land And Land Development Costs InventoryRealEstateLandAndLandDevelopmentCosts	2099133000	usd
CY2024Q2	us-gaap	Inventory Operative Builders Other InventoryOperativeBuildersOther	53707000	usd
CY2024Q2	us-gaap	Inventory Homes Under Construction InventoryHomesUnderConstruction	559674000	usd
CY2024Q2	us-gaap	Inventory Finished Homes InventoryFinishedHomes	509502000	usd
CY2024Q2	us-gaap	Inventory Operative Builders InventoryOperativeBuilders	3301316000	usd
CY2024Q2	lgih	Inventory Real Estate Not Owned InventoryRealEstateNotOwned	58949000	usd
CY2024Q2	us-gaap	Inventory Real Estate InventoryRealEstate	3360265000	usd
	lgih	Transfer Of Real Estate Inventory To Rental Properties TransferOfRealEstateInventoryToRentalProperties	11000000	usd
CY2024Q2	us-gaap	Lessor Operating Lease Term Of Contract LessorOperatingLeaseTermOfContract	P1Y
CY2024Q2	lgih	Land Financing Arrangements LandFinancingArrangements	58949000	usd
CY2024Q2	lgih	Real Estate Inventory Development And Construction Payable RealEstateInventoryDevelopmentAndConstructionPayable	64088000	usd
CY2024Q2	us-gaap	Employee Related Liabilities Current And Noncurrent EmployeeRelatedLiabilitiesCurrentAndNoncurrent	17309000	usd
CY2023Q4	us-gaap	Employee Related Liabilities Current And Noncurrent EmployeeRelatedLiabilitiesCurrentAndNoncurrent	22550000	usd
CY2023Q4	us-gaap	Accrued Income Taxes AccruedIncomeTaxes	14694000	usd
CY2024Q2	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	14700000	usd
CY2023Q4	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	13600000	usd
CY2024Q2	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	12321000	usd
CY2023Q4	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	13522000	usd
CY2024Q2	lgih	Inventory Related Obligations InventoryRelatedObligations	11414000	usd
CY2023Q4	lgih	Inventory Related Obligations InventoryRelatedObligations	11924000	usd
CY2024Q2	us-gaap	Operating Lease Liability OperatingLeaseLiability	4725000	usd
CY2023Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	4947000	usd
CY2023Q4	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	2909000	usd
CY2024Q2	us-gaap	Other Liabilities OtherLiabilities	11955000	usd
CY2024Q2	us-gaap	Accrued Liabilities And Other Liabilities AccruedLiabilitiesAndOtherLiabilities	209975000	usd
	lgih	Inventory Related Obligation Term InventoryRelatedObligationTerm	P30Y
CY2024Q2	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	14700000	usd
	us-gaap	Debt Instrument Basis Spread On Variable Rate1 DebtInstrumentBasisSpreadOnVariableRate1	0.0185
CY2024Q2	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	18334000	usd
CY2023Q4	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	21301000	usd
CY2024Q2	us-gaap	Notes Payable NotesPayable	1501365000	usd
CY2023Q4	us-gaap	Notes Payable NotesPayable	1248332000	usd
CY2024Q2	us-gaap	Interest Costs Incurred InterestCostsIncurred	29223000	usd
CY2023Q2	us-gaap	Interest Costs Incurred InterestCostsIncurred	22118000	usd
	us-gaap	Interest Costs Incurred InterestCostsIncurred	58586000	usd
	us-gaap	Interest Costs Incurred InterestCostsIncurred	41287000	usd
CY2024Q2	us-gaap	Interest Costs Capitalized Adjustment InterestCostsCapitalizedAdjustment	29223000	usd
CY2023Q2	us-gaap	Interest Costs Capitalized Adjustment InterestCostsCapitalizedAdjustment	22118000	usd
	us-gaap	Interest Costs Capitalized Adjustment InterestCostsCapitalizedAdjustment	58586000	usd
	us-gaap	Interest Costs Capitalized Adjustment InterestCostsCapitalizedAdjustment	41287000	usd
CY2024Q2	us-gaap	Interest Expense InterestExpense	0	usd
CY2023Q2	us-gaap	Interest Expense InterestExpense	0	usd
	us-gaap	Interest Expense InterestExpense	0	usd
	us-gaap	Interest Expense InterestExpense	0	usd
CY2024Q2	us-gaap	Interest Paid InterestPaid	35482000	usd
CY2023Q2	us-gaap	Interest Paid InterestPaid	14256000	usd
	us-gaap	Interest Paid InterestPaid	56768000	usd
	us-gaap	Interest Paid InterestPaid	39756000	usd
CY2024Q2	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	4400000	usd
CY2023Q2	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	5100000	usd
	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	10000000.0	usd
	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	8200000	usd
CY2024Q2	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.238
	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.244
CY2024Q2	us-gaap	Income Taxes Paid IncomeTaxesPaid	16200000	usd
CY2023Q2	us-gaap	Income Taxes Paid IncomeTaxesPaid	59700000	usd
	us-gaap	Income Taxes Paid IncomeTaxesPaid	28300000	usd
	us-gaap	Income Taxes Paid IncomeTaxesPaid	59900000	usd
CY2022Q1	lgih	Stock Repurchase Program Additional Amount Authorized StockRepurchaseProgramAdditionalAmountAuthorized	200000000.0	usd
CY2022Q1	srt	Stock Repurchase Program Authorized Amount1 StockRepurchaseProgramAuthorizedAmount1	550000000.0	usd
CY2024Q2	us-gaap	Treasury Stock Shares Acquired TreasuryStockSharesAcquired	83763	shares
CY2024Q2	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	8000000.0	usd
	us-gaap	Treasury Stock Shares Acquired TreasuryStockSharesAcquired	172990	shares
	us-gaap	Stock Repurchased During Period Value StockRepurchasedDuringPeriodValue	18000000.0	usd
	us-gaap	Treasury Stock Shares Acquired TreasuryStockSharesAcquired	3112462	shares
CY2024Q2	us-gaap	Stock Repurchase Program Remaining Authorized Repurchase Amount1 StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1	193500000	usd
CY2024Q2	us-gaap	Net Income Loss NetIncomeLoss	58573000	usd
CY2023Q2	us-gaap	Net Income Loss NetIncomeLoss	53134000	usd
	us-gaap	Net Income Loss NetIncomeLoss	75626000	usd
	us-gaap	Net Income Loss NetIncomeLoss	80096000	usd
CY2024Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	23543378	shares
CY2023Q2	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	23533097	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	23560977	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	23457615	shares
CY2024Q2	us-gaap	Incremental Common Shares Attributable To Contingently Issuable Shares IncrementalCommonSharesAttributableToContingentlyIssuableShares	59933	shares
CY2023Q2	us-gaap	Incremental Common Shares Attributable To Contingently Issuable Shares IncrementalCommonSharesAttributableToContingentlyIssuableShares	75795	shares
	us-gaap	Incremental Common Shares Attributable To Contingently Issuable Shares IncrementalCommonSharesAttributableToContingentlyIssuableShares	74139	shares
	us-gaap	Incremental Common Shares Attributable To Contingently Issuable Shares IncrementalCommonSharesAttributableToContingentlyIssuableShares	157591	shares
CY2024Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	23603311	shares
CY2023Q2	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	23608892	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	23635116	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	23615206	shares
CY2024Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	2.49
CY2023Q2	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	2.26
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	3.21
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	3.41
CY2024Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	2.48
CY2023Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	2.25
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	3.20
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	3.39
CY2024Q2	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	3399	shares
CY2023Q2	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	1287	shares
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	16972	shares
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	9373	shares
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage	1
CY2024Q2	us-gaap	Land Under Purchase Options Recorded LandUnderPurchaseOptionsRecorded	30123000	usd
CY2023Q4	us-gaap	Land Under Purchase Options Recorded LandUnderPurchaseOptionsRecorded	26955000	usd
CY2024Q2	lgih	Commitment Under Land Purchase Option And Deposit Agreement CommitmentUnderLandPurchaseOptionAndDepositAgreement	577001000	usd
CY2023Q4	lgih	Commitment Under Land Purchase Option And Deposit Agreement CommitmentUnderLandPurchaseOptionAndDepositAgreement	513941000	usd
CY2024Q2	lgih	Lots Under Purchase Options Recorded LotsUnderPurchaseOptionsRecorded	15542
CY2023Q4	lgih	Lots Under Purchase Options Recorded LotsUnderPurchaseOptionsRecorded	15750
CY2024Q2	lgih	Refundable Land Deposits Of Purchase Contractsof Finished Lots RefundableLandDepositsOfPurchaseContractsofFinishedLots	11700000	usd
CY2023Q4	lgih	Refundable Land Deposits Of Purchase Contractsof Finished Lots RefundableLandDepositsOfPurchaseContractsofFinishedLots	11400000	usd
CY2024Q2	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	4500000	usd
CY2023Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	4600000	usd
CY2024Q2	us-gaap	Operating Lease Liability OperatingLeaseLiability	4700000	usd
CY2023Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	4900000	usd
CY2024Q2	us-gaap	Operating Lease Cost OperatingLeaseCost	600000	usd
	us-gaap	Operating Lease Cost OperatingLeaseCost	1200000	usd
	us-gaap	Operating Lease Payments OperatingLeasePayments	900000	usd
	us-gaap	Operating Lease Payments OperatingLeasePayments	1000000	usd
CY2024Q2	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.059
CY2024Q2	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P2Y6M
CY2024Q2	us-gaap	Lessee Operating Lease Liability Payments Remainder Of Fiscal Year LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear	842000	usd
CY2024Q2	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	1434000	usd
CY2024Q2	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	1262000	usd
CY2024Q2	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	1085000	usd
CY2024Q2	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	640000	usd
CY2024Q2	lgih	Lessee Operating Lease Liability To Be Paid After Year Four LesseeOperatingLeaseLiabilityToBePaidAfterYearFour	34000	usd
CY2024Q2	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	5297000	usd
CY2024Q2	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	572000	usd
CY2024Q2	us-gaap	Operating Lease Liability OperatingLeaseLiability	4725000	usd
CY2024Q2	lgih	Lettersof Credit Surety Bondsand Other Financial Guarantees LettersofCreditSuretyBondsandOtherFinancialGuarantees	371200000	usd
CY2023Q4	lgih	Lettersof Credit Surety Bondsand Other Financial Guarantees LettersofCreditSuretyBondsandOtherFinancialGuarantees	357000000.0	usd
	us-gaap	Payments To Acquire Limited Partnership Interests PaymentsToAcquireLimitedPartnershipInterests	23500000	usd
	us-gaap	Payments To Acquire Limited Partnership Interests PaymentsToAcquireLimitedPartnershipInterests	21500000	usd
CY2024Q2	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-3000000	usd
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	5000000	usd
CY2023Q2	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-2900000	usd
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	5300000	usd
CY2024Q2	us-gaap	Revenues Revenues	602497000	usd
CY2023Q2	us-gaap	Revenues Revenues	645270000	usd
	us-gaap	Revenues Revenues	993348000	usd
	us-gaap	Revenues Revenues	1132627000	usd
	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	7	business
	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	5	home
CY2024Q2	us-gaap	Revenues Revenues	602497000	usd
CY2023Q2	us-gaap	Revenues Revenues	645270000	usd
	us-gaap	Revenues Revenues	993348000	usd
	us-gaap	Revenues Revenues	1132627000	usd
CY2024Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	76883000	usd
CY2023Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	71409000	usd
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	99977000	usd
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	103757000	usd
CY2024Q2	us-gaap	Assets Assets	3701927000	usd
CY2023Q4	us-gaap	Assets Assets	3407851000	usd
CY2024Q2	ecd	Non Rule10b51 Arr Adopted Flag NonRule10b51ArrAdoptedFlag	false
CY2024Q2	ecd	Rule10b51 Arr Trmntd Flag Rule10b51ArrTrmntdFlag	false
CY2024Q2	ecd	Non Rule10b51 Arr Trmntd Flag NonRule10b51ArrTrmntdFlag	false

Files In Submission

Name	View Source	Status
0001580670-24-000037-index-headers.html	Edgar Link	pending
0001580670-24-000037-index.html	Edgar Link	pending
0001580670-24-000037.txt	Edgar Link	pending
0001580670-24-000037-xbrl.zip	Edgar Link	pending
a63024ex311.htm	Edgar Link	pending
a63024ex312.htm	Edgar Link	pending
a63024ex321.htm	Edgar Link	pending
a63024ex322.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
lgih-20240630.htm	Edgar Link	pending
lgih-20240630.xsd	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
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R24.htm	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
lgih-20240630_cal.xml	Edgar Link	unprocessable
lgih-20240630_def.xml	Edgar Link	unprocessable
lgih-20240630_lab.xml	Edgar Link	unprocessable
lgih-20240630_pre.xml	Edgar Link	unprocessable
lgih-20240630_htm.xml	Edgar Link	completed
R25.htm	Edgar Link	pending
R26.htm	Edgar Link	pending
R27.htm	Edgar Link	pending
R28.htm	Edgar Link	pending
R29.htm	Edgar Link	pending
R3.htm	Edgar Link	pending
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R48.htm	Edgar Link	pending
R49.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$LGIH
LGI Homes, Inc. Stock $lgih

2024 Q3 Form 10-Q Financial Statement

#000158067024000037 Filed on July 30, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LGIH LGI Homes, Inc. Stock $lgih

2024 Q3 Form 10-Q Financial Statement

#000158067024000037 Filed on July 30, 2024

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LGIH
LGI Homes, Inc. Stock $lgih