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COMMITMENTS AND CONTINGENCIES (Note 14)

35,535,260

14,968,762

^[1]

Total liabilities

56,635,633

20,345,174

EQUITY

Common stock, par value $0.01, 250,000,000 shares authorized, 20,763,449 issued and outstanding as of December 31, 2013

207,634

Additional paid-in capital

157,056,191

Retained earnings

7,110,126

Owners’ equity

25,210,977

Non-controlling interests

Total equity

164,373,951

25,210,977

Total liabilities and equity

$ 221,009,584

$ 45,556,151

[1]	As of December 31, 2012, the Company's construction and development activities were financed through credit facilities generally providing for secured notes for the construction of individual homes and/or completed lots, with maturities ranging from 9 – 12 months from the borrowing date.

CONSOLIDATED BALANCE SHEETS (Parenthetical)	Dec. 31, 2013 $ / shares shares
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01
Common stock shares authorized (in dollars per share)	250,000,000
Common stock shares issued (in shares)	20,763,449
Common stock shares outstanding (in shares)	20,763,449

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Revenues [Abstract]
Home sales	$ 160,067,139	$ 73,820,028	$ 49,269,971
Management and warranty fees	2,728,563	2,401,013	1,186,188
Total revenues	162,795,702	76,221,041	50,456,159
Cost of sales	121,325,536	54,530,971	36,699,505
Selling expenses	15,768,575	7,269,331	4,884,310
General and administrative	13,604,160	6,096,114	5,125,331
Income from unconsolidated LGI/GTIS Joint Ventures	(4,286,639)	(1,526,464)	(714,758)
Operating income	16,384,070	9,851,089	4,461,771
Interest expense, net	(50,946)	(1,234)	(28,152)
Gain on remeasurement of interests in LGI/GTIS Joint Ventures	6,445,964	0	0
Other income, net	24,239	172,785	203,677
Net income before income taxes	22,803,327	10,022,640	4,637,296
Income tax provision	(1,066,072)	(154,542)	(124,891)
Net income	21,737,255	9,868,098	4,512,405
(Income) loss attributable to non-controlling interests	589,818	(162,969)	(1,161,986)
Net income attributable to owners	$ 22,327,073	$ 9,705,129	$ 3,350,419

CONSOLIDATED STATEMENTS OF EQUITY - USD ($)	Total	Formation	Reorganization	IPO	Common Stock	Common Stock Formation	Common Stock Reorganization	Common Stock IPO	Additional Paid-In Capital	Additional Paid-In Capital Formation	Additional Paid-In Capital Reorganization	Additional Paid-In Capital IPO	Retained Earnings	Total Owners’ Equity	Total Owners’ Equity Reorganization	Non- Controlling Interests	Non- Controlling Interests Reorganization
Beginning balance (in shares) at Dec. 31, 2010					0
Beginning Balance at Dec. 31, 2010	$ 11,765,945				$ 0				$ 0				$ 0	$ 11,050,313		$ 715,632
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	4,512,405													3,350,419		1,161,986
Contributions	4,764,175													4,360,000		404,175
Distributions	(6,407,500)													(5,770,000)		(637,500)
Ending balance (in shares) at Dec. 31, 2011					0
Ending Balance at Dec. 31, 2011	14,635,025				$ 0				0				0	12,990,732		1,644,293
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	9,868,098													9,705,129		162,969
Contributions	6,650,000													6,650,000		0
Distributions	(5,942,146)													(4,134,884)		(1,807,262)
Ending balance (in shares) at Dec. 31, 2012					0
Ending Balance at Dec. 31, 2012	25,210,977				$ 0				0				0	25,210,977		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	21,737,255
Contributions	18,332,250													2,535,000		15,797,250
Distributions	(9,111,206)													(9,111,206)		0
Issuance of shares (in shares)						1,000	10,003,358	10,350,000
Issuance of shares		$ 1,000	$ 0	$ 102,634,396		$ 10	$ 100,034	$ 103,500		$ 990	$ 48,959,116	$ 102,530,896			$ (33,851,718)		$ (15,207,432)
Issuance of restricted stock units in settlement of accrued bonuses	1,026,465								1,026,465
Compensation expense for equity awards	42,814								42,814
Issuance of shares for GTIS Acquisitions (in shares)					409,091
Issuance of shares for GTIS Acquisitions	4,500,000				$ 4,090				4,495,910
Ending balance (in shares) at Dec. 31, 2013					20,763,449
Ending Balance at Dec. 31, 2013	$ 164,373,951				$ 207,634				$ 157,056,191				$ 7,110,126	$ 0		$ 0

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical)	12 Months Ended
CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical)	Dec. 31, 2013 USD ($)
Statement of Stockholders' Equity [Abstract]
Initial public offering, underwriting fees and offering expenses	$ 11,215,604

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Cash flows from operating activities:
Net income	$ 21,737,255	$ 9,868,098	$ 4,512,405
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Income from unconsolidated LGI/GTIS Joint Ventures	(4,286,639)	(1,526,464)	(714,758)
Distributions from unconsolidated LGI/GTIS Joint Ventures	4,413,972	1,545,437	607,500
Gain on remeasurement of interests in LGI/GTIS Joint Ventures	(6,445,964)	0	0
Depreciation and amortization	291,611	185,120	79,747
Gain on settlement of debt	(8,614)	0	0
Loss on disposal of assets	55,641	0	0
Settlement of accrued bonuses with restricted stock units	1,026,465	0	0
Compensation expense for equity awards	42,814	0	0
Deferred income taxes	(287,781)	0	0
Changes in assets and liabilities:
Accounts receivable	(3,870,924)	(204,905)	(429,827)
(Receivables from) payables to related parties, net	264,908	(634,728)	(147,921)
Real estate inventory	(74,595,550)	(15,963,517)	7,751,795
Pre-acquisition costs and deposits	(2,705,418)	(425,802)	(241,041)
Other assets	21,218	(311,595)	(898,550)
Accounts payable	5,827,258	1,669,644	(6,403)
Accrued expenses and other liabilities	4,031,268	1,145,343	(958,171)
Net cash provided by (used in) operating activities	(54,488,480)	(4,653,369)	9,554,776
Cash flows from investing activities:
Capital investments in unconsolidated LGI/GTIS Joint Ventures	(927,977)	(2,244,047)	(1,299,189)
Capital distributions from unconsolidated LGI/GTIS Joint Ventures	457,907	33,313	0
Proceeds from disposal of assets	34,647	177	14,713
Purchases of property and equipment	(684,448)	(434,886)	(451,214)
Payment for remaining interests in unconsolidated LGI/GTIS Joint Ventures, net of cash acquired	(30,139,023)	0	0
Net cash used in investing activities	(31,258,894)	(2,645,443)	(1,735,690)
Cash flows from financing activities:
Proceeds from notes payable	72,931,978	46,364,607	26,156,379
Payments on notes payable	(52,041,782)	(37,810,361)	(32,483,236)
Contributions from owners	2,535,000	6,650,000	4,360,000
Distributions to owners	(9,111,206)	(4,134,884)	(5,770,000)
Proceeds from sale of stock, net of offering expenses	102,635,396	0	0
Contributions from non-controlling interests	15,797,250	0	404,175
Distributions to non-controlling interests	0	(1,807,262)	(637,500)
Net cash provided by (used in) financing activities	132,746,636	9,262,100	(7,970,182)
Net increase (decrease) in cash and cash equivalents	46,999,262	1,963,288	(151,096)
Cash and cash equivalents, beginning of year	7,069,471	5,106,183	5,257,279
Cash and cash equivalents, end of year	$ 54,068,733	$ 7,069,471	$ 5,106,183

Organization and Business	12 Months Ended
Organization and Business	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	ORGANIZATION AND BUSINESS Organization and Description of the Business LGI Homes, Inc. a Delaware corporation (the “Company”), was organized on July 9, 2013 as a holding company for the purposes of facilitating the initial public offering (the "IPO") of its common stock in November 2013. LGI Homes, Inc.'s principal business is the development of communities and the design and construction of homes. At December 31, 2013, the Company had operations in Texas, Arizona, Florida, Georgia and New Mexico. Initial Public Offering and Reorganization Transactions On November 13, 2013, LGI Homes, Inc. completed the IPO of its common stock. In the IPO, LGI Homes, Inc. issued and sold 10,350,000 shares of its common stock at a price to the public of $11.00 per share and received net proceeds of $102.6 million after deducting underwriting discounts and commissions of $8.0 million and other offering expenses of approximately $3.2 million. In conjunction with the IPO, the Company completed the reorganization of LGI Homes Group, LLC and LGI Homes Corporate, LLC and their consolidated subsidiaries and variable interest entities, as well as LGI Homes II, LLC (formerly LGI Homes, Ltd.), LGI Homes - Sunrise Meadow, LLC (formerly LGI Homes - Sunrise Meadow, Ltd.), LGI Homes - Canyon Crossing, LLC (formerly LGI Homes - Canyon Crossing, Ltd.), and LGI Homes - Deer Creek, LLC, (collectively, the "Predecessor") into LGI Homes, Inc. (the "Reorganization Transactions"). A total of 10,003,358 shares of the Company’s common stock were issued to the owners of the entities that make up the Predecessor, including the issuance of 2,161,580 shares of the Company’s common stock to the non-controlling interests in LGI Fund III Holdings, LLC, a consolidated variable interest entity of the Predecessor. Immediate family members, a father and son (the "Family Principals"), individually or jointly owned more than 50% of the voting ownership interest of each entity comprising the Predecessor. The Predecessor entities and the Company were under common management, operated in the same business, and were controlled by the Family Principals immediately before and after the Reorganization Transactions. Following the reorganization, the entities that comprised the Predecessor are wholly-owned subsidiaries of the Company. The Reorganization Transactions were accounted for at the transaction date as a consolidation of entities under common control. In addition, since the Predecessor controlled LGI Fund III Holdings, LLC before and after the IPO, the Company accounted for the acquisition of the non-controlling interests as an equity transaction. The accompanying consolidated financial statements present the historical financial statements of the Predecessor as though they were owned by LGI Homes, Inc. prior to the Reorganization Transactions. Prior to the Reorganization Transactions, the Predecessor consisted of limited liability companies and limited partnerships, all of which were treated as partnerships for income tax purposes. However, as a result of the Reorganization Transactions, the deferred tax assets and liabilities attributable to the Predecessor were recorded since the entities are now taxable as subsidiaries of a corporation. As a result of this tax status change, the Company recorded an incremental net deferred tax liability and a one-time non-cash tax expense of approximately $0.2 million. See Note 10 for further discussion.

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

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Acquisition of LGI/GTIS Joint Venture Partners' Interests

Acquisition of LGI/GTIS Joint Venture Partners' Interests

12 Months Ended

Dec. 31, 2013

Business Combinations [Abstract]

ACQUISITION OF LGI/GTIS JOINT VENTURE PARTNERS' INTERESTS

Concurrent with the IPO on November 13, 2013, the Company acquired from GTIS Partners, LP and its affiliated entities (“GTIS”) all of GTIS’ equity interests in four unconsolidated joint ventures with the Predecessor, namely LGI-JV Holdings, LLC (formerly LGI-GTIS Holdings, LLC), LIG-JV Holdings II, LLC (formerly LGI-GTIS Holdings II, LLC), LGI-JV Holdings III, LLC (formerly LGI-GTIS Holdings III, LLC) and LGI-JV Holdings IV, LLC (formerly LGI-GTIS Holdings IV, LLC) (collectively, the “LGI/GTIS Joint Ventures”), in exchange for aggregate consideration of $41.3 million, consisting of cash of approximately $36.8 million and 409,091 shares of the Company’s common stock valued at $4.5 million on the IPO date (the "GTIS Acquisitions"). As discussed at Note 6, the LGI/GTIS Joint Ventures have historically been accounted for as unconsolidated joint ventures under the equity method of accounting. As a result of the GTIS Acquisitions, the Company began consolidating the entities. As required by ASC Topic 805, Business Combinations ("ASC Topic 805"), the acquired assets and assumed liabilities have been accounted for at fair value and the Predecessor’s historical interests in the joint ventures have been remeasured at fair value.

The enterprise fair value of the LGI/GTIS Joint Ventures was determined using a discounted cash flow model and totaled approximately $46.5 million as of November 13, 2013. This fair value measurement is based on significant inputs that are not observable in the market and, therefore, represents a Level 3 measurement as defined in ASC Topic 820, Fair Value Measurements and Disclosures. The pre-tax discount rates used in determining fair value ranged from 14-18% depending on the length of the remaining development cycle of the communities in each joint venture.

The enterprise fair value was allocated between the Predecessor and other members based on the distribution allocations established in the respective joint venture agreements. The amounts allocable to the Predecessor totaled $15.0 million. The stand-alone values of the Predecessor’s equity interests in the LGI/GTIS Joint Ventures total $11.2 million and were estimated by applying a lack of control and marketability discount of 25% to the Predecessor’s allocation of the enterprise fair value. Management believes the lack of control and marketability discount of 25% is appropriate given the Predecessor’s shared control of the LGI/GTIS Joint Ventures. A gain of $6.4 million was recognized by the Company on the remeasurement of the Predecessor’s equity interest in the LGI/GTIS Joint Ventures in connection with the GTIS Acquisitions.

In accordance with ASC Topic 805, the assets and liabilities of the LGI/GTIS Joint Ventures have been recorded at fair value. The fair value of the cash and cash equivalents, other assets, accounts payable, and accrued and other liabilities of the LGI/GTIS Joint Ventures as of November 13, 2013, approximated their historical carrying values given the short-term nature of these assets and liabilities.

The Company determined the fair value of real estate inventory by community by asset primarily using a combination of the sales comparison and cost approaches, as appropriate based on the type of asset and information available. The sales comparison approach used recent home and land sales to provide values for completed homes, sales offices, homes under construction and land. Interviews were conducted with local market participants, including brokers, to gain an understanding of local land and lot values in markets where there were no recent land sales. The cost and income approaches were also considered to determine the fair value of partially constructed homes and land based on hard costs incurred to date. Similar valuation methods were used to estimate the fair value of a land purchase option at one of the active communities. The estimated fair values are significantly affected by assumptions related to expected sales prices, absorption rates, and the costs to build and deliver homes on a community by community basis. Such estimates were made for each individual community and may vary significantly between communities.

In connection with the GTIS Acquisitions, certain rights to the LGI Homes trade name were reacquired. The fair value of this intangible asset was calculated based upon the forecasted revenues of the LGI/GTIS Joint Ventures using a relief-from-royalty valuation model. The intangible asset was valued at $0.7 million and is being amortized on a straight line basis over 3 years. Amortization expense related to the intangible was approximately $31,000 for the year ended December 31, 2013. Amortization expense for the remaining balance will be approximately $0.2 million, $0.2 million and $0.2 million in 2014, 2015, and 2016, respectively.

Goodwill of $12.0 million was recognized from the GTIS Acquisitions which management believes represents the expected synergies to be realized from combining the operations of the LGI/GTIS Joint Ventures with the Company’s operations. The goodwill was computed as the excess of the (i) sum of (x) the total consideration to GTIS of $41.3 million and (y) the fair value of the Predecessor’s equity interests in the LGI/GTIS Joint Ventures of $11.2 million for a total estimated enterprise fair value of the LGI/GTIS Joint Ventures of $52.6 million over (ii) the estimated fair value of the identifiable net assets of the LGI/GTIS Joint Ventures of $40.6 million. Approximately $4.8 million of goodwill recognized is not deductible for federal income tax purposes. The consideration paid to GTIS for their equity interests in the LGI/GTIS Joint Ventures included a premium for acquiring the operations of the LGI/GTIS Joint Ventures that, when combined with the Predecessor’s operations, enabled greater access to capital markets and the successful completion of our IPO as well as additional market share in many of our active markets.

The Company is in the process of completing its business combination accounting as of December 31, 2013. A summary of the fair value of the LGI/GTIS Joint Ventures’ assets and liabilities as of November 13, 2013, is as follows (in thousands):



Financial Statement Caption	Total
Cash and cash equivalents	$	6,709
Real estate inventory	38,419
Land purchase option contract	479
Other assets	951
Goodwill	12,018
Intangible asset	740
Accounts payable and accrued and other liabilities	(6,734		)
Net assets of the LGI/GTIS Joint Ventures at fair value	$	52,582



Financial Statement Caption	Total
Cash consideration paid to GTIS	$	36,848
Company's common stock issued to GTIS	4,500
Predecessor's equity interests in the LGI/GTIS Joint Ventures at fair value	11,234
	$	52,582

Predecessor's equity interests in the LGI/GTIS Joint Ventures at fair value	11,234
Less carrying basis of Predecessor's equity interests using the equity method of accounting	4,789
Gain on remeasurement of the Predecessor's equity interest in the LGI/GTIS Joint Ventures in connection with the GTIS Acquisitions	$	6,445

The consolidated statement of operations for the year ended December 31, 2013, include the following actual results (in thousands) for the LGI/GTIS Joint Ventures for the period from November 13, 2013 to December 31, 2013.



Home sales revenues	$	19,988
Cost of sales	$	18,159
Net income before income taxes	$	5,911

Unaudited Supplemental Pro-Forma information

The unaudited supplemental pro forma information presented below (in thousands) presents the home sales revenues, cost of sales, and net income before income taxes of the Company for 2013 and 2012 as if the GTIS Acquisitions date had been completed on January 1, 2012.

The unaudited pro forma adjustments are based upon available information and certain assumptions that we believe are reasonable under the circumstances. The unaudited pro forma consolidated financial data is presented for informational purposes only. The unaudited pro forma consolidated financial data does not purport to represent what our results of operations would have been had the GTIS Acquisitions actually occurred on January 1, 2012 and does not purport to project our results of operations for any future period.



	Pro Forma Financial Information for the Company
	For the Year Ended December 31,
	2013		2012
Home sales revenues	$	240,963	$	143,378
Cost of sales	$	179,831	$	104,229
Net income before income taxes	$	22,922	$	18,613

The total fair value step-up adjustment to the acquisition date real estate inventory was approximately $7.4 million. The actual cost of sales for November 13, 2013 through December 31, 2013 and the pro forma financial information for the year ended December 31, 2013 include $3.5 million of the $7.4 million fair value step-up adjustment to the acquisition date real estate inventory related to homes that were in inventory on November 13, 2013 and sold by December 31, 2013. The pro forma results have been adjusted to reflect the elimination of the Predecessor's equity in earnings of the LGI/GTIS Joint Ventures. The pro forma results reflect $0.2 million each year for the amortization expense related to the marketing intangible asset. In addition, the pro forma financial information exclude the impact of the gain on re-measurement and the incremental impact of the fair value step-up adjustment over and above the $3.5 million that was recognized in 2013 for homes sold through December 31, 2013, as these are considered to be non-recurring items.

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1383-128463

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e6996-128479

Property, Plant and Equipment [Abstract]

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2013
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles ("GAAP") and include the accounts of LGI Homes, Inc. and all of its subsidiaries subsequent to November 13, 2013, the closing date for the Reorganization Transactions and the IPO. All intercompany balances and transactions have been eliminated in consolidation. For the periods prior to the Reorganization Transactions, the accompanying consolidated financial statements include the accounts of the LGI Homes, Inc. and the results of operations since the date of its formation, July 9, 2013, and the Predecessor's historical combined accounts and results of operations for January 1, 2011 to November 13, 2013. All intercompany balances and transactions have been eliminated in consolidation and all intracompany balances and transactions have been eliminated in combination. Use of Estimates 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. Cash and Cash Equivalents and Concentration of Credit Risk Cash and cash equivalents are defined as cash on hand, demand deposits with financial institutions, and short-term liquid investments with an initial maturity date of less than three months. The Company’s cash in demand deposit accounts may exceed federally insured limits. Management monitors the cash balances in the Company’s operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be negatively impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or diminished access to cash in their operating accounts. Accounts Receivable Accounts receivable consist primarily of proceeds due from title companies for sales closed prior to period end and are generally collected within a few days from closing. Real Estate Inventory Inventory consists of land, land under development, finished lots, sales offices, homes in progress, and completed homes. Inventory is stated at cost unless the carrying amount is determined not to be recoverable, in which case the affected inventory is written down to fair value. Land, development and other project costs, including interest and property taxes incurred during development and home construction, are capitalized to real estate inventory. Land development and other common costs that benefit the entire community, including field construction supervision and related direct overhead, are allocated to individual lots or homes, as appropriate. The costs of lots are transferred to homes in progress when home construction begins. Home construction costs and related carrying charges (principally capitalized interest and property taxes) are allocated to the cost of individual homes using the specific identification method. Costs that are not specifically identifiable to a home are allocated on a pro rata basis using the total number of lots in the community. Management believes the allocation of land development costs on a pro rata basis approximates the allocation using relative sales value. Inventory costs for completed homes are expensed to cost of sales as homes are sold. Changes to estimated total development costs subsequent to initial home closings in a community are generally allocated to the remaining unsold lots and homes in the community on a pro rata basis. The life cycle of a community generally ranges from two to five years, commencing with the acquisition of land, continuing through the land development phase, and concluding with the construction and sale of homes. A constructed home is used as the community sales office during the life of the community and then sold. Actual individual community lives will vary based on the size of the community, the sales absorption rate, and whether the property was purchased as raw land or finished lots. In accordance with the provisions of ASC Topic 360, Property, Plant, and Equipment, real estate inventory is evaluated for indicators of impairment by each community during each reporting period. In conducting its review for indicators of impairment on a community level, management evaluates, among other things, the margins on homes that have been sold, communities with slow moving inventory, projected margins on future home sales over the life of the community, and the estimated fair value of the land. For individual communities with indicators of impairment, additional analysis is performed to estimate the community’s undiscounted future cash flows. If the estimated undiscounted future cash flows are greater than the carrying value of the community group of assets, no impairment adjustment is required. If the undiscounted cash flows are less than the community’s carrying value, the asset group is impaired and is written down to its fair value. The Company estimates the fair value of communities using a discounted cash flow model. As of December 31, 2013 and 2012, the real estate inventory is stated at cost; there were no inventory impairment charges recorded during the years ended December 31, 2013, 2012 and 2011. Capitalized Interest Interest and other financing costs are capitalized as cost of inventory during community development and home construction activities, in accordance with ASC Topic 835, Interest (“ASC 835”) and expensed in cost of sales as homes in the community are sold. To the extent the debt exceeds qualified assets, a portion of the interest incurred is expensed. Pre-Acquisition Costs and Deposits Amounts paid for land options, deposits on land purchase contracts, and other pre-acquisition costs are capitalized and classified as deposits to purchase. Upon execution of the purchase, these deposits are applied to the acquisition price of the land and recorded as a cost component of the land in real estate inventory. To the extent that any deposits are nonrefundable and the associated land acquisition process is terminated or no longer determined probable, the related deposits are charged to general and administrative expense. Management reviews the likelihood of the acquisition of contracted lots in conjunction with its periodic real estate impairment analysis. Deferred Loan Costs Deferred loan costs represent debt issuance costs and, depending on the nature and purpose of the loan, are capitalized to real estate inventory or amortized to interest expense using the straight-line method which approximates the effective interest method. Property and Equipment Property, equipment and leasehold improvements are stated at cost, less accumulated depreciation. Depreciation expense is recorded in general and administrative expenses. Upon sale or retirement, the costs and related accumulated depreciation are eliminated from the respective accounts and any resulting gain or loss is included in other income, net. Depreciation is generally computed using the straight-line method over the estimated useful lives of the assets, ranging from 3 to 7 years for property and equipment. Leasehold improvements are depreciated over the shorter of the asset life or the term of the lease. Maintenance and repair costs are expensed as incurred. Impairments of long-lived assets are determined periodically when indicators of impairment are present. If such indicators are present, the determination of the amount of impairment is based on judgments as to the future undiscounted operating cash flows to be generated from these assets throughout their remaining estimated useful lives. If these undiscounted cash flows are less than the carrying amount of the related asset, impairment is recognized for the excess of the carrying value over its fair value. There were no impairments of property, equipment and leasehold improvements recorded during the years ended December 31, 2013, 2012 and 2011. Investments in Joint Ventures and Unconsolidated Variable Interest Entities (VIEs) Historically, the Predecessor functioned as the managing member of several joint ventures conducting homebuilding activities; these joint ventures became wholly-owned subsidiaries of the Company as a result of the Reorganization Transactions and the GTIS Acquisitions. In accordance with ASC Topic 810, Consolidation, management had assessed whether these entities were VIEs. The Predecessor had variable interests in the joint venture arrangements that it managed, and these joint ventures were determined to be VIEs because the members of the joint ventures, as a group, had insufficient equity at risk without further capital contributions. The Predecessor’s rights as well as the rights held by the other joint venture members had been evaluated to determine the primary beneficiary of the VIE, including the extent of substantive participating rights and control of activities that most significantly affected its economic performance. Such activities included, but were not limited to, the ability to determine the budget and scope of land development work, if any; the ability to control financing decisions for the VIE; and the ability to acquire additional land into the VIE. If the Predecessor was not able to control the significant decisions, the Predecessor was not considered the primary beneficiary of the VIE. If the Predecessor was determined to be the primary beneficiary of the VIE, the entity was consolidated in the Predecessor's financial statements. The Predecessor had investments in four joint ventures where the Predecessor and the other joint venture members were deemed to have joint control and the Predecessor was not the primary beneficiary since all major decisions required both parties’ consent. Accordingly, the Predecessor’s interests in these joint ventures have been accounted for using the equity method and its share of the joint ventures’ net earnings was included in income from unconsolidated joint ventures and investments in unconsolidated joint ventures. Distributions received were credited against the related investment in the joint venture. In addition, the Predecessor had interests in two VIE’s (LGI Homes – Sterling Lakes, LLC and LGI Fund III Holdings, LLC) where it had been determined that the Predecessor was the primary beneficiary. In addition to the Predecessor serving as the managing member of these entities, the Family Principals of the Predecessor also held the general partner controlling interests in the non-managing members of the VIEs. As a result, the Predecessor combined with the Family Principals’ related party interests had the power to direct all significant activities of the VIEs, and had exposure to the risks and rewards of the VIEs, based on the division of income and loss pursuant to the joint venture agreement and the Predecessor’s ownership in the joint ventures. These two VIEs are consolidated in the accompanying consolidated financial statements. Management evaluated the Company’s investments in unconsolidated entities for indicators of impairment during each reporting period. No impairment charges were recorded related to investments in unconsolidated entities during the periods presented. Insurance Costs and Reserves The Company has deductible limits under workers’ compensation, automobile and general liability insurance policies, and records expense and liabilities for the estimated costs of potential claims for construction defects. The excess liability limits are $3 million per occurrence and in the aggregate annually and apply in excess of automobile liability, employer’s liability under worker's compensation, and general liability policies. The Company generally requires subcontractors and design professionals to indemnify the Company for liabilities arising from their work, subject to certain limitations. Goodwill and Intangible Assets The excess of the purchase price of a business acquisition over the net fair value of assets acquired and liabilities assumed is capitalized as goodwill in accordance with ASC Topic 805. ASC Topic 805 requires that goodwill and intangible assets that do not have finite lives are not amortized, but are assessed for impairment at least annually or more frequently if certain impairment indicators are present. The Company recorded $12.0 million of goodwill related to the GTIS Acquisitions. No goodwill impairment charges were recorded in 2013. The costs of intangible assets with determinable useful lives are amortized over their estimated useful lives. When certain events or changes in operating conditions occur, the estimated future undiscounted cash flows associated with the asset are compared to the asset’s carrying amount to determine if an impairment of such assets is necessary. For intangible assets that are amortized, a review is performed of their estimated useful lives to evaluate whether events and circumstances warrant a revision to the remaining useful life. No impairment charges were recorded in 2013 associated with intangible assets. Warranty Reserves Future direct warranty costs are accrued and charged to cost of sales in the period when the related home is sold. The Company’s warranty liability is based upon historical warranty cost experience and is adjusted as appropriate to reflect qualitative risks associated with the types of homes built, the geographic areas in which they are built, and potential impacts of the Company's continued expansion. Warranty reserves are reviewed quarterly to assess the reasonableness and adequacy and to make adjustments to the balance of the pre-existing reserves, as needed, to reflect changes in trends and historical data as information becomes available. Customer Deposits Customer deposits are received upon signing a purchase contract and are typically $500 - $1,000. Deposits are generally refundable if the customer is unable to obtain financing. Forfeited buyer deposits related to home sales are recognized in other (income) expense in the period in which it is determined that the buyer will not complete the purchase of the property and the deposit is nonrefundable to the buyer. Home Sales In accordance with ASC Topic 360 – 20, Real Estate Sales, revenues from home sales are recorded at the time each home sale is closed, title and possession are transferred to the buyer, and there is no significant continuing involvement of the Company with the home. Home sales proceeds are generally received from the title company within a few days from closing. Home sales are reported net of sales discounts and incentives granted to home buyers, which are primarily seller-paid closing costs. Cost of Sales As discussed under Real Estate Inventory, above, cost of sales for homes closed include the construction costs of each home and allocable land acquisition and land development costs, capitalized interest, and other related common costs (both incurred and estimated to be incurred). Selling and Commission Costs Sales commissions are paid and expensed based on homes sold. Other selling costs are expensed in the period incurred. Advertising Costs Advertising and direct mail costs are expensed as incurred. Advertising and direct mail costs were $3,298,672, $1,803,027 and $1,538,293 for the years ended December 31, 2013, 2012, and 2011, respectively. Income Taxes LGI Homes, Inc. is a taxable entity. Prior to the Reorganization Transactions, the Predecessor consisted of limited liability companies and limited partnerships, all of which were treated as partnerships for income tax purposes and federal income taxes on taxable income or losses realized by the Predecessor were the obligation of the individual members or partners. As a result of the Reorganization Transactions, the Predecessor entities are subject to federal and state income taxes. The accompanying financial statements include a provision for income taxes based on the period when the Company’s operations are taxable. The Company utilizes the liability method of accounting for income taxes. Under the liability method, deferred tax assets and liabilities are recognized using enacted tax rates for the effect of temporary differences between the book and tax bases of recorded assets and liabilities. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion or all of the net deferred tax assets will not be realized. The Company’s ability to realize deferred tax assets is assessed throughout the year and a valuation allowance is established accordingly. The Company recognizes the impact of a tax position only if it is more likely than not to be sustained upon examination based on the technical merits of the position. The Company recognizes potential interest and penalties related to uncertain tax positions in income tax expense. See Note 10 for additional disclosures regarding income taxes. The Company files income tax returns in the U.S. federal jurisdiction and in various states and does not have any unrecognized tax benefits. The Company will be subject to examinations by the major tax jurisdictions in which it files. Prior to the Reorganization Transactions, the Predecessor was subject to certain state taxes and fees, including the Texas margin tax, where applicable. There were no significant deferred income taxes related to state income taxes for the years ended December 31, 2013, 2012 and 2011. Earnings Per Share Basic earnings per share is based on the weighted average number of shares of common stock outstanding. Diluted earnings per share is based on the weighted average number of shares of common stock and dilutive securities outstanding. Non-vested stock grants were the only potentially dilutive share equivalents the Company had outstanding at December 31, 2013. Stock-Based Compensation The compensation expense for stock-based awards is based on the fair value of the award and is recognized on a straight-line basis over the vesting period. The fair values of restricted stock units are based on the stock prices at the date of grant. Fair Value Measurement of Financial Instruments ASC Topic 820, Fair Value Measurements (“ASC Topic 820”), defines fair value as “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date” within an entity’s principal market, if any. The principal market is the market in which the reporting entity would sell the asset or transfer the liability with the greatest volume and level of activity, regardless of whether it is the market in which the entity will ultimately transact for a particular asset or liability or if a different market is potentially more advantageous. Accordingly, this exit price concept may result in a fair value that differs from the transaction price or market price of the asset or liability. ASC Topic 820 provides a framework for measuring fair value under GAAP, expands disclosures about fair value measurements, and establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of the fair value hierarchy are summarized as follows: Level 1 - Fair value is based on quoted prices in active markets for identical assets or liabilities. Level 2 - Fair value is determined using significant observable inputs, generally either quoted prices in active markets for similar assets or liabilities, or quoted prices in markets that are not active. Level 3 - Fair value is determined using one or more significant inputs that are unobservable in active markets at the measurement date, such as a pricing model, discounted cash flow, or similar technique. The Company utilizes fair value measurements to account for certain items and account balances within its consolidated financial statements. Fair value measurements may also be utilized on a nonrecurring basis, such as for the impairment of long-lived assets. The fair value of financial instruments, including cash and cash equivalents, accounts receivable and notes payable, approximate their carrying amounts due to the short term nature of these instruments. In addition, as of December 31, 2013, the notes payable have a floating interest rate, which increases or decreases with market interest rates, and is subject to an interest rate floor. As described in Note 2, the Predecessor’s historical interests in the LGI/GTIS Joint Ventures were adjusted to fair value determined using Level 3 unobservable assumptions and valuation inputs. The assets and liabilities of the LGI/GTIS Joint Ventures were recorded at fair value determined based on Level 2 or Level 3 assumptions and valuation inputs.

Real Estate Inventory

12 Months Ended

Dec. 31, 2013

Inventory Disclosure [Abstract]

Real Estate Inventory

REAL ESTATE INVENTORY

The Company's real estate inventory consists of the following:



	December 31,
	2013		2012
Land, land under development, and finished lots	$	82,006,081	$	8,538,631
Sales offices	3,784,295		912,461
Homes in progress	27,722,361		8,045,848
Completed homes	28,470,007		10,992,251
Total real estate inventory	$	141,982,744	$	28,489,191

Interest and financing costs incurred under the Company's debt obligations, as more fully discussed in Note 9, are capitalized to qualifying real estate projects under development and homes under construction.

Property and Equipment

12 Months Ended

Dec. 31, 2013

Property and Equipment

PROPERTY AND EQUIPMENT

Property and equipment consist of the following:



		December 31,
	Asset Life	2013			2012
	(years)
Computer equipment	3-5	$	498,660		$	291,112
Machinery, equipment and vehicles	4-5	169,226			707,554
Furniture and fixtures	5-7	745,186			338,647
Leasehold improvements	various	108,367			18,643
Total property and equipment		1,521,439			1,355,956
Less: Accumulated depreciation		(676,732		)	(636,566		)
Property and equipment, net		$	844,707		$	719,390

Depreciation expense incurred for the years ended December 31, 2013, 2012 and 2011 was $260,778, $185,120 and $79,747, respectively.

The following are related to property and equipment:



	For the Year Ended December 31,
	2013		2012
Related party transaction:
Equipment sold to the LGI/GTIS Joint Ventures at net book value	$	29,233	$	177
Non-cash transaction:
Settlement of vehicle notes payable (through trade in or assumption by purchaser)	$	315,084	$	—

Investments in Joint Ventures, Variable Interest Entities and Non-Controlling Interests

12 Months Ended

Dec. 31, 2013

Equity Method Investments and Joint Ventures [Abstract]

Investments in Joint Ventures, Variable Interest Entities and Non-Controlling Interests

INVESTMENTS IN JOINT VENTURES, VARIABLE INTEREST ENTITIES AND NON-CONTROLLING INTERESTS

Unconsolidated Joint Ventures

Prior to the GTIS Acquisitions, the Predecessor's interests in the following four joint ventures (the “LGI/GTIS Joint Ventures”) were accounted for using the equity method of accounting since the Predecessor was not deemed to be the primary beneficiaries of these variable interest entities.



Joint Venture Name	Date Formed	Predecessor's Member
LGI—JV Holdings, LLC	March 2010	LGI Homes Corporate, LLC
LGI—JV Holdings II, LLC	November 2010	LGI Homes Corporate, LLC through March 2011, then interest transferred to LGI Homes Group, LLC
LGI—JV Holdings III, LLC	March 2011	LGI Homes Group, LLC
LGI—JV Holdings IV, LLC	October 2012	LGI Homes Group, LLC

The LGI/GTIS Joint Ventures were each engaged in homebuilding and land development activities. GTIS Partners, LP and affiliated entities (collectively “GTIS”) were joint venture members in these entities. Management of each of the LGI/GTIS Joint Ventures was vested in the members, being the Predecessor and GTIS. The Predecessor was considered the managing members of these entities. The managing member had the responsibility and authority to operate the LGI/GTIS Joint Ventures on a day-to-day basis subject to the operating budget and business plan, which was approved by both members. The Predecessor used their sales, development and operations teams to support operations and had significant influence even though the respective joint venture members had been deemed to have joint control under ASC Topic 810. All major decisions required both members’ consent. Major decisions included, but were not limited to: the acquisition or disposition of a project; capital contributions; and changes, and updates or amendments to the operating budget or business plan. Generally, the LGI/GTIS Joint Ventures did not obtain construction financing from outside lenders, but financed their activities primarily through equity contributions from each of the joint venture members.

Profits were allocated to the members of the LGI/GTIS Joint Ventures based on the predetermined formulas specified in the joint venture agreements for the allocation of distributable cash. The GTIS member and the Predecessor were allocated 85% and 15% of the profits, respectively, (the “Sharing Percentages”) until such time as the members received cash distributions equal to their initial capital investment plus, generally, a 15% internal rate of return (“First Tier Return”). Subsequent allocations of distributable cash and profits included a priority allocation of approximately 20% to 40% to the Predecessor, depending on the amount of cash distributions achieved over the life of the joint venture. Upon liquidation of the Predecessor interests in the LGI/GTIS Joint Ventures, the Predecessor was required to restore any deficit balance in its capital account as provided for in the respective joint venture agreements. Therefore, the Predecessor’s maximum exposure to loss as a result of involvement in each LGI/GTIS Joint Venture was the amount of the Predecessor’s equity in such joint venture ($4.8 million on a combined basis for the LGI/GTIS Joint Ventures at November 13, 2013) plus the potential to fund any deficit capital balance upon liquidation. Performance of the Predecessor under the joint venture agreements was guaranteed by certain Predecessor entities, including LGI Homes II, LLC, LGI Homes – Sunrise Meadow, LLC, LGI Homes – Canyon Crossing, LLC, and LGI Homes – Deer Creek, LLC, and was secured by a first lien and security interest in the Predecessor’s interest and the right to receive any distributions from the respective LGI/GTIS Joint Venture.

Since the internal rates of return necessary to receive a higher proportion of distributions were calculated over the life of each LGI/GTIS Joint Venture and both the timing and amount of future contributions and distributions would affect the Predecessor’s share of distributions, there was no certainty that the Predecessor would receive greater than 15% of the LGI/GTIS Joint Ventures’ distributions. Therefore, the Predecessor recorded its investments in the LGI/GTIS Joint Ventures at 15% of each venture’s capital balance and recognized the incremental amounts due to the Predecessor as a result of reaching the higher distribution tiers only when received.

As of December 31, 2012, none of the LGI/GTIS Joint Ventures had achieved the First-Tier Return, therefore there were no priority allocations paid to the Predecessor. During the period ended November 13, 2013, LGI-GTIS Holdings, LLC, LGI-GTIS Holdings II, LLC and LGI-GTIS Holdings III, LLC achieved the Third-Tier Return resulting in the priority allocations to the Predecessor of up to approximately 40%. As of November 13, 2013, LGI-GTIS Holdings IV, LLC had not achieved the First-Tier Return. During the period ended November 13, 2013, the Predecessor recognized $2.7 million in priority distributions from the LGI/GTIS Joint Ventures. The LGI/GTIS Joint Ventures were acquired on November 13, 2013 and as such there were no further distributions or contributions.

Summarized condensed combined financial information of the LGI/GTIS Joint Ventures accounted for using the equity method is presented below for the period through the date of the GTIS Acquisitions:



	November 13,		December 31,
Balance Sheets	2013		2012
Assets:
Cash and cash equivalents	$	6,709,450	$	4,129,107
Total real estate inventory	30,989,395		26,835,602
Other assets	951,144		2,128,764
Total assets	$	38,649,989	$	33,093,473
Liabilities and members’ equity:
Liabilities	$	6,723,063	$	3,451,448
Members’ equity:
Predecessor	4,789,038		4,446,302
GTIS members	27,137,888		25,195,723
Total members’ equity	31,926,926		29,642,025
Total liabilities and members’ equity	$	38,649,989	$	33,093,473



	Period Ended November 13,		Year Ended December 31,
Statements of Operations	2013		2012		2011
Home sales	$	80,895,653	$	69,558,302	$	32,995,219
Cost of sales	$	58,717,993	$	49,750,920	$	22,761,370
Net earnings of unconsolidated entities	$	10,873,404	$	10,176,430	$	4,765,051
Predecessor's share in net earnings of unconsolidated entities	$	4,286,639	$	1,526,464	$	714,758

Consolidated Joint Ventures

Two consolidated joint ventures, engaged in homebuilding and land development activities, were determined to be VIEs and the Predecessor was deemed to be the primary beneficiary under ASC Topic 810. LGI Fund III Holdings, LLC was formed March 31, 2013, and LGI Homes Group, LLC was the managing member; this entity became a wholly-owned subsidiary of the Company on November 13, 2013, as a result of the Company’s acquisition of the non-controlling interests in the joint venture as part of the Reorganization Transactions (See Note 1). LGI Homes-Sterling Lakes, LLC was formed in 2010, and LGI Homes Corporate, LLC was the managing member. LGI Homes-Sterling Lakes, LLC had income attributable to non-controlling interests of $162,969 for the year ended December 31, 2012, and was closed out prior to December 31, 2012.

Historically, profits were allocated to the members of the consolidated joint ventures based on the predetermined formulas specified in the joint venture agreements for the allocation of distributable cash. The non-managing members and the Predecessor were allocated 85% and 15% of the profits, respectively, (the “Sharing Percentages”) until such time as the members received cash distributions equal to their initial capital investment plus, generally, a 15% internal rate of return (“First Tier Return”). Subsequent allocations of distributable cash and profits included a priority allocation of approximately 20% to 40% to the Predecessor’s member, depending on the amount of cash distributions achieved over the life of the joint venture.

Other Assets

12 Months Ended

Dec. 31, 2013

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

OTHER ASSETS

Other assets consist of the following:



	December 31,
	2013		2012
Receivable from municipality	$	—	$	1,250,000
Prepaid insurance	1,205,018		286,356
Prepaid expenses	291,243		34,382
Security deposits	468,370		299,132
Other assets	—		14,230
Total other assets	$	1,964,631	$	1,884,100

In connection with the development of a community, LGI Homes – Sunrise Meadow, LLC financed the design, construction and initial operations of the municipal utility district subject to the district’s commitment to reimburse eligible costs in connection with a bond offering. The municipal utility district issued bonds during October 2013, and the receivable from the municipality for reimbursement of costs incurred by LGI Homes – Sunrise Meadow, LLC was collected during November 2013.

Accrued Expenses and Other Liabilities

12 Months Ended

Dec. 31, 2013

Payables and Accruals [Abstract]

Accrued Expenses and Other Liabilities

ACCRUED EXPENSES AND OTHER LIABILITIES

Accrued and other current liabilities consist of the following:



	December 31,
	2013		2012
Accrued liabilities	$	3,531,448	$	948,807
Accrued bonuses	1,055,057		583,242
Warranty reserve	630,000		450,000
Income taxes payable	1,553,683		119,473
Customer deposits	330,030		75,423
Total accrued expenses and other liabilities	$	7,100,218	$	2,176,945

Estimated Warranty Reserve—The Company typically provides homebuyers with a ten-year limited warranty for major defects in structural elements such as framing components and foundation systems, a two-year limited warranty on major mechanical systems, and a one-year limited warranty on other construction components. The Predecessor provided similar warranty services for homes sold by the LGI/GTIS Joint Ventures prior to the GTIS Acquisitions (see Note 13).

Changes to the Company's warranty accrual are as follows:



	December 31,
	2013			2012
Warranty reserves, beginning of year	$	450,000		$	275,000
Warranty provision	763,734			409,057
Warranty reserve acquired in GTIS Acquisitions	30,000			—
Warranty expenditures	(613,734		)	(234,057		)
Warranty reserves, end of year	$	630,000		$	450,000

Notes Payable

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Notes Payable

NOTES PAYABLE

As of December 31, 2013, the Company was party to two secured revolving credit facilities, up to an aggregate $37.0 million, to purchase and develop land parcels and construct new homes. The Company repays the amounts borrowed under the secured revolving credit facilities for acquisition and development as lots are released based upon a specific release price, as defined in each respective credit facility agreement. The Company repays the amounts borrowed under the credit facility for construction proceeds from home sales based upon a specific release price, as defined in each respective credit facility agreement. Interest on amounts borrowed is paid monthly at a rate based on LIBOR or the interest rate floor, whichever is greater.

The LGI Homes Group, LLC and the LGI Homes- Sunrise Meadow, LLC credit facilities with Texas Capital Bank, N.A. were amended during 2013 to establish a borrowing base to determine available loan proceeds. The individual facility’s borrowing base is determined based on the loan value of the pool of collateral in which the lenders have a security interest. The Company may borrow additional amounts under the credit facilities with Texas Capital Bank, N.A. for new home starts through the facility expiration date which are subject to the lender’s final approval of each project and limitations on the borrowings attributable to certain markets, speculative home building, vacant lots, and acquisition and development funding. Vacant lots and homes generally may remain in the borrowing base for up to one year. As of December 31, 2013, the borrowing base amounts under these agreements totaled $37.0 million.



	December 31,
	2013		2012 (1)
LGI Homes Group, LLC—Notes payable to Texas Capital Bank, N.A. under an amended credit facility ($35 and $20 million line at December 31, 2013 and 2012, respectively) expiring June 30, 2015; interest at LIBOR plus 3.0% at December 31, 2013 and 2012, with a 4.0% and 4.5% floor at December 31, 2013 and 2012, respectively; collateralized by borrower’s land, development and home construction costs (carrying value of $106.1 at December 31, 2013); guaranteed by a family Principal, the managing member, and non-managing members as joint and several guarantors	$	34,078,260	$	12,270,636
LGI Homes—Sunrise Meadow, LLC and LGI Holdings, LLC—Notes payable to Texas Capital Bank, N.A. under an amended credit facility ($2 and $5 million line at December 31, 2013 and 2012, respectively) expiring December 31, 2013; interest at LIBOR plus 3.9% at December 31, 2013 and 2012, with a 4.0% and 4.5% floor at December 31, 2013 and 2012, respectively; collateralized by borrowers’ land, development and home construction costs (carrying value of $5.1 at December 31, 2013); guaranteed by a Family Principal	1,457,000		835,363
LGI Homes—Texas, LLC—Notes payable to Regions Bank, under an amended $3 million revolving credit facility expiring March 29, 2014; interest at LIBOR plus 4.0%, with a 5% floor; collateralized by borrowers’ land, development and home construction costs; guaranteed by LGI Homes Corporate, LLC; the credit facility was paid in full in September 2013	—		1,225,121
LGI Homes Corporate, LLC—Notes payable to banks; interest rates ranging from 0% to 4.3%; principal and interest is payable in monthly installments; maturity dates ranged from July 2014 through December 2016; collateralized by vehicles, the notes were settled during September 2013	—		425,120
LGI Homes—Sunrise Meadow, LLC participation fee obligation, secured by second lien on LGI Homes—Sunrise Meadow, LLC land, development, and home construction assets; guaranteed by a family Principal	—		212,522
Total notes payable	$	35,535,260	$	14,968,762


(1)	As of December 31, 2012, the Company's construction and development activities were financed through credit facilities generally providing for secured notes for the construction of individual homes and/or completed lots, with maturities ranging from 9 – 12 months from the borrowing date.

At December 31, 2013, debt outstanding of $35.5 million is secured by the pool of collateral which may remain in the borrowing base for up to one year; consequently, the outstanding balance matures in 2014. The Company may add vacant lots, houses, land and acquisition and development projects to its pool of collateral through June 30, 2015. As of December 31, 2013 and 2012, LIBOR was 0.24% and 0.31%, respectively. Based on the terms of the variable rate notes payable, the interest amounts paid during the years ended December 31, 2013 and 2012, were based on the interest rate floor terms.

The Company’s credit agreements generally require the borrower and guarantor to maintain certain net worth, liquidity and leverage ratios and, in some cases, include cross-default provisions and restrictive covenants related to transfer of control of the borrower. The Company's current homebuilding operations are primarily funded by borrowings from one primary bank or with equity. The availability of credit to fund ongoing and future operations could be negatively impacted if the underlying financial institution fails or is subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in their credit facilities with the bank.

Participation Obligations

The development and construction financing provided to the Predecessor by mezzanine lenders have included participation fee provisions based on a percentage of the home sale prices realized from the funded projects. The participation fees were paid at the time the homes were sold. The participation fees have been recorded to deferred loan costs and were amortized to interest expense, and considered in the Predecessor’s determination of capitalized interest discussed further below, over the term of the respective loan.

As of December 31, 2012, LGI Homes—Sunrise Meadow, LLC had a participation fee obligation for the remaining 264 (unaudited) unsold lots of the 974 (unaudited) total community lots; the related loan matured during April 2012. The participation fee obligation was settled with the lenders during September 2013 for $0.2 million, and the corresponding gain of $8,614 is included in other income, net in the accompanying consolidated statement of operations.

Capitalized Interest

Interest activity, including other financing costs, for notes payable for the periods presented is as follows:



	Year Ended December 31,
	2013			2012			2011
Interest incurred	$	1,377,922		$	823,925		$	1,254,294
Less: Amounts capitalized	(1,326,976		)	(822,691		)	(1,226,142		)
Interest expense	$	50,946		$	1,234		$	28,152

Cash paid for interest	$	1,220,334		$	790,058		$	1,274,708

Income Taxes

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

All Company operations are domestic. The provision for income taxes consisted of the following:



	Year ended December 31,
	2013			2012		2011
Current:
Federal	$	841,254		$	—	$	—
State	512,599			154,542		124,891
Current tax provision	1,353,853			154,542		124,891
Deferred:
Federal	(264,499		)	—		—
State	(23,282		)	—		—
Deferred tax benefit	(287,781		)	—		—
Total income tax provision	$	1,066,072		$	154,542	$	124,891

Taxes paid were $115,872, $163,171 and $130,540 for the years ended December 31, 2013, 2012, and 2011, respectively.

Prior to the Reorganization Transactions, the Predecessor consisted of limited liability companies and limited partnerships, all of which were treated as partnerships for income tax purposes. However, as a result of the Reorganization Transactions, the Predecessor entities are subsidiaries of the Company, thereby becoming subject to federal and certain state taxes beginning November 13, 2013. As a result of this tax status change, the Company recorded a net deferred tax liability and a one-time non-cash charge of $245,513 included in the income tax provision. In addition, the remeasurement of the Predecessor’s historical interests in the LGI/GTIS Joint Ventures generated approximately $4.8 million of excess book goodwill primarily attributable to the Predecessor’s carryover basis in the joint ventures’ assets and liabilities that is not deductible for federal income tax purposes. This excess goodwill is not amortizable for tax purposes.

In November 2013, prior to the closing of the IPO and the Reorganization Transactions (see Note 1), the entities comprising of the Predecessor distributed to their owners approximately $5.8 million to pay estimated federal income taxes on earnings for the period from January 1, 2013 through November 13, 2013.

A reconciliation of the provision for income taxes for 2013 and the amount computed by applying the statutory federal income tax rate of 35% to income before provision for income taxes for the year ended December 31, 2013, and the period subsequent to the Reorganization Transactions, November 13, 2013 to December 31, 2013 follows:



	November 13, 2013 - December 31, 2013					Year Ended December 31, 2013
Tax at federal statutory rate	$	2,725,053		35.0	%	$	7,981,164		35.0	%
State income taxes (net of federal benefit)	48,362			0.6		438,694			1.9
Non-deductible expenses and other	517			0.1		517			0.1
Non-taxable - gain on remeasurement	(2,256,087		)	(29.0	)	(2,256,087		)	(9.9	)
Domestic production activity deduction	(87,618		)	(1.1	)	(87,618		)	(0.4	)
Change in tax status of entity - deferred taxes	245,513			3.2		245,513			1.1
Income attributable to partnerships - nontaxable	—			—		(5,256,111		)	(23.1	)
Tax at effective rate	$	675,740		8.8	%	$	1,066,072		4.7	%

The components of net deferred tax assets and liabilities at December 31, 2013, are as follows:



	December 31, 2013
Deferred tax assets:
Compensation related to RSU's	$	395,119
Accruals and reserves	469,902
Total deferred tax assets	865,021
Deferred tax liabilities:
Inventory	(258,414		)
Tax depreciation in excess of book depreciation	(223,316		)
Goodwill and other assets amortized for tax	(95,510		)
Total deferred tax liability	$	(577,240	)
Total net deferred tax asset (liability)	$	287,781

Equity

12 Months Ended

Dec. 31, 2013

Equity [Abstract]

Equity

EQUITY

The Company is authorized to issue 250,000,000 shares of common stock, par value $0.01 per share, and 5,000,000 shares of preferred stock, par value $0.01 per share. On July 9, 2013, 1,000 shares of common stock, par value $0.01 per share, were issued upon receipt of $1,000. At December 31, 2013, the Company had 20,763,449 shares of Common Stock issued and outstanding. No shares of preferred stock were issued or outstanding.

Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the period the Company was a public registrant, from November 13, 2013 to December 31, 2013. Earnings per share is not computed for the period prior to the closing date of the IPO because the Predecessor consisted of limited liability companies and limited partnerships and LGI Homes, Inc. did not have operations.



	For the Period from November 13, 2013 - December 31, 2013

Net income	$	7,110,126

Basic weighted average shares outstanding	20,763,449

Add: Dilutive effect of restricted stock units	70,675
Diluted weighted average shares outstanding	20,834,124

Basic earnings per share	$	0.34
Diluted earnings per share	$	0.34

Predecessor's Owners' Equity

The following table reflects the activity and balances in the owners’ equity of the Predecessor prior to the Reorganization Transactions:



	LGI Homes Group, LLC Members’ Capital			LGI Homes Corporate, LLC Members’ Capital			LGI Homes- Deer Creek, LLC Members’ Capital			Other Partnerships’ Capital			Total Owners’ Equity
BALANCE—JANUARY 1, 2011	$	—		$	2,296,924		$	42,716		$	8,710,673		$	11,050,313
Net income	152,626			878,184			764,751			1,554,858			3,350,419
Contributions	3,960,000			—			400,000			—			4,360,000
Distributions	—			—			(250,000		)	(5,520,000		)	(5,770,000		)
BALANCE—DECEMBER 31, 2011	$	4,112,626		$	3,175,108		$	957,467		$	4,745,531		$	12,990,732
Net income	6,445,381			2,258,226			802,166			199,356			9,705,129
Contributions	6,650,000			—			—			—			6,650,000
Distributions	(53,287		)	(2,001,964		)	(1,759,633		)	(320,000		)	(4,134,884		)
BALANCE—DECEMBER 31, 2012	$	17,154,720		$	3,431,370		$	—		$	4,624,887		$	25,210,977
Net income	11,892,452			1,883,297			—			1,441,198			15,216,947
Contributions	—			2,500,000			—			35,000			2,535,000
Distributions	(6,969,567		)	(1,468,800		)	—			(672,839		)	(9,111,206		)
BALANCE—NOVEMBER 13, 2013	$	22,077,605		$	6,345,867		$	—		$	5,428,246		$	33,851,718

LGI Homes Group, LLC is a Texas limited liability company formed in March 2011. EDSS Holdings, LP, a limited partnership wholly-owned by the Family Principals, owned 50.125% of LGI Homes Group, LLC, and LGI Investment Fund II, LP, owned the remaining 49.875%. LGI Investment Fund II, LP was formed as a Texas limited partnership in June 2011. LGI Fund II GP, LLC was the 1% general partner. LGI Fund II GP, LLC is wholly-owned by Eric Lipar. The limited partners were various investors.

In March 2013, LGI Homes Group, LLC formed LGI Fund III Holdings, LLC (a joint venture consolidated in the accompanying financial statements) with LGI Investment Fund III, LP (see Note 6). LGI Homes Group, LLC was the managing member. The LGI Investment Fund III, LP was formed as a Texas limited partnership in February 2013. LGI Fund III GP, LLC was the 1% general partner. LGI Fund III GP, LLC is wholly-owned by Eric Lipar. The limited partners were various investors. In accordance with the terms of the formation of LGI Investment Fund III, LP, the limited partnership exchanged its 85% ownership in LGI Fund III Holdings, LLC for approximately 1.5 times the investment amount upon completion of the IPO and as part of the Reorganization Transactions.

LGI Homes Corporate, LLC is a Texas limited liability company formed in March 2010 and was wholly-owned and managed by the Family Principals prior to the Reorganization Transactions.

LGI Homes—Deer Creek, LLC is a Texas limited liability company formed in June 2009. The entity was wholly-owned and managed by the Family Principals prior to the Reorganization Transactions.

The Other Partnerships included in the accompanying consolidated financial statements and aggregated in the above table are:

•

LGI Homes II, LLC, formerly LGI Homes, Ltd. and JTM Housing, Ltd., was formed as a Texas limited partnership in December 2002, renamed as LGI Homes, Ltd. in October 2004 and LGI Homes II, LLC in November 2013. LGI GP, LLC, a wholly-owned Texas limited liability company formed in 2002 as a wholly-owned subsidiary of LGI Holdings, LLC, was the 1% general partner of LGI Homes II, LLC. The limited partner was 99% owned by the Family Principals prior to the Reorganization Transactions.


•	LGI Homes - Sunrise Meadow, LLC, formerly LGI Homes - Sunrise Meadow, Ltd. was formed as a Texas limited partnership in February 2005 and renamed as LGI Homes - Sunrise Meadow, LLC in November 2013. LGI GP, LLC, was the 1% general partner. The entity was wholly-owned and managed by the Family Principals prior to the Reorganization Transactions.


•	LGI Homes - Canyon Crossing, LLC, formerly LGI Homes - Canyon Crossing, Ltd. was formed as a Texas limited partnership in May 2005 and renamed as LGI Homes - Canyon Crossing, LLC in November 2013. LGI GP, LLC, was the 1% general partner. The entity was wholly-owned and managed by the Family Principals prior to the Reorganization Transactions.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
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Reference 17: http://www.xbrl.org/2003/role/presentationRef
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Reference 18: http://www.xbrl.org/2003/role/presentationRef
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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Related Party Transactions

Stock-Based Compensation	12 Months Ended
Stock-Based Compensation	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION 2013 Stock Incentive Plan As approved by the Company's stockholders, the Company adopted the LGI Homes, Inc. 2013 Equity Incentive Plan (the "2013 Incentive Plan") to reward, retain and attract key personnel. At December 31, 2013, the Company had 1,500,000 of common stock reserved for issuance pursuant to the 2013 Incentive Plan. On November 6, 2013, immediately prior to the effectiveness of the prospectus for the IPO, the Company granted 140,222 restricted stock units ("RSU's") to employees, executives and non-employee directors under the 2013 Incentive Plan which vest over periods ranging from one to three years and will be settled in shares of the Company’s common stock. Of these grants, 93,315 RSU's represent the settlement of $1.0 million of accrued liabilities of the Predecessor for management and executive bonuses which had been earned and recorded as compensation expense of as part of a performance-based cash bonus plan through the date of the IPO. In addition, 46,907 RSU's were granted to certain employees, executives and the non-employee directors, of which none were forfeited as of December 31, 2013. The value of the RSU's was determined to be equal to the number of shares of the Company's common stock to be issued pursuant to the RSU's, multiplied by the price of the Company's common stock on the date the RSU's were awarded which was $11.00, the IPO price. The fair value of RSU's granted in 2013 is $1,542,442. The Company recognized $42,814 of total stock-based compensation expense related to these grants for the year ended December 31, 2013. At December 31, 2013, the Company had unrecognized compensation cost of $473,163 related to stock-based compensation awards granted. That cost is expected to be recognized over a weighted average period of 1.7 years.

Related Party Transactions

12 Months Ended

Dec. 31, 2013

RELATED PARTY TRANSACTIONS

From time to time, the Company may engage in transactions with entities that are affiliated with the Company. Transactions with related parties are in the normal course of operations. Receivables due from and payables due to related parties included in the accompanying consolidated balance sheets consist of the following:



	December 31,
	2013		2012
Receivables:
LGI/GTIS Joint Ventures	$	—	$	985,719
Other affiliates and owners	28,236		41,206
Total	$	28,236	$	1,026,925
Payables:
LGI/GTIS Joint Ventures	$	—	$	108,577
Total	$	—	$	108,577

Management and Warranty Fees

The Predecessor had a Management Services Agreement with each of the LGI/GTIS Joint Ventures. The Predecessor provided administration, supervision, marketing, and various other services for the joint ventures. The Predecessor charged the joint ventures a management fee of approximately 3% of home sale revenues. The Predecessor also charged the joint ventures a management fee of 3% of construction costs for the development of land, as applicable. The management and construction fees were in addition to direct costs charged to the joint ventures. Management fees earned under the agreements were $2.6 million, $2.3 million and $1.1 million for the years ended December 31, 2013, 2012 and 2011, respectively.

The Predecessor collected a warranty fee of $250 from the LGI/GTIS Joint Ventures upon the closing of the sale of each home. The Predecessor provided a Home Builder’s Limited Warranty to the buyer of each home. The Predecessor was responsible for the performance and discharge of any warranty claims asserted against the joint ventures or the GTIS member. Warranty fees earned were $0.1 million for each of the years ended December 31, 2013, 2012 and 2011.

Profit Sharing Plan

The Company’s employees are eligible to participate in a 401(k) savings plan established by LGI Holdings, LLC, a sister company in an unrelated business. Employees are eligible to participate after completing ninety days of service and having attained the age of 21. Salary deferrals are allowed in amounts up to 100% of an eligible employee’s salary, not to exceed the maximum allowed by law. A discretionary match may be made by the Company of up to 100% of the first 3% of an eligible employee’s deferral, not to exceed $3,000. For each of the years ended December 31, 2013, 2012 and 2011, the Company's matching contributions were $0.1 million.

Consulting Fees

Concurrent with the IPO, the Company entered into a three-year consulting agreement with a related party for $100,000 per year payable on a monthly basis. Consulting fees were approximately $17,000 for the year ended December 31, 2013.

Commitments and Contingencies Disclosure [Abstract]

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2013

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

Contingencies

In the ordinary course of doing business, the Company becomes subject to claims or proceedings from time to time relating to the purchase, development, and sale of real estate. Management believes that these claims include usual obligations incurred by real estate developers in the normal course of business. In the opinion of management, these matters will not have a material effect on the Company’s combined financial position, results of operations or cash flows.

The Company has provided unsecured environmental indemnities to certain lenders. In each case, the Company has performed due diligence on the potential environmental risks including obtaining an independent environmental review from outside environmental consultants. These indemnities obligate the Company to reimburse the guaranteed parties for damages related to environmental matters. There is no term or damage limitation on these indemnities; however, if an environmental matter arises, the Company may have recourse against other previous owners. Management is not aware of any environmental claims or occurrences and has recorded no reserves for environmental matters at December 31, 2013 and 2012.

Land Deposits

The Company has land purchase option contracts, generally through cash deposits, for the right to purchase land or lots at a future point in time with predetermined terms. The Company does not have title to the property and obligations with respect to the option contracts are generally limited to the forfeiture of the related nonrefundable cash deposits. The following is a summary of the Company's land purchase deposits and option contracts included in pre-acquisition costs and deposits:



	December 31,
	2013		2012
Land deposits and option payments	$	2,977,050	$	963,500
Commitments under the land purchase option and deposit agreements if the purchases are consummated	$	111,114,993	$	33,057,761
Lots under land options and land purchase contracts	8,214		2,242

Leasing Arrangements

The Company leases office facilities and certain equipment under non-cancellable operating lease agreements. Rent escalation provisions are accounted for using the straight-line method. Rent expense includes common area maintenance costs. Rent expense totaled $326,962, $240,804 and $230,618 for the years ended December 31, 2013, 2012 and 2011, respectively.

Future minimum lease payments under non-cancellable operating lease agreements are as follows at December 31, 2013 (in thousands):



2014	$	381
2015	407
2016	431
2017	460
2018	298
Thereafter	7
Total	$	1,984

Bonding

The Company has outstanding performance and surety bonds of $353,388, $183,103 and $366,205 at December 31, 2013, 2012 and 2011, respectively, related to the Company’s obligations for site improvements at various projects. Certain surety bonds are guaranteed by one of the Family Principals. Management does not believe that draws upon these bonds, if any, will have a material effect on the Company’s consolidated financial position, results of operations, or cash flows.

Segment Information	12 Months Ended
Segment Information	Dec. 31, 2013
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The Company operates one principal homebuilding business which is organized and reports by division. Initial operations were conducted in the Texas division (formerly referred to as the Central region), expanding into the Southwest division (formerly referred to as the Western region) during 2011 and the Florida and Southeast divisions during 2012. During July and October 2013, the Florida and Southeast divisions had their first home closings, respectively. In accordance with ASC Topic 280, Segment Reporting, operating segments are defined as components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision-maker ("CODM") in deciding how to allocate resources and in assessing performance. The Company has determined that it has four operating segments as of December 31, 2013; the Texas division, the Southwest division, the Southeast division and the Florida division. The Texas division is the largest division and it comprised greater than 80% of total home sales revenues for the years ended December 31, 2013, 2012 and 2011. The operating segments qualify for aggregation as one reporting segment. In determining the reportable segment, the Company concluded that all operating segments have similar economic and other characteristics, including similar home floor plans, average selling prices, gross margin, production construction processes, suppliers, subcontractors, regulatory environments, customer type, and underlying demand and supply. The CODM primarily evaluates performance based on the number of homes sold, gross margin and net income. Each operating segment follows the same accounting policies as the Company and is managed by the Company’ management team. The Company has no inter-segment sales, as all sales are to external customers.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2013

Selected Quarterly Financial Data (Unaudited)

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

Quarterly results are as follows (in thousands, except per share data):



	First Quarter 2013		Second Quarter 2013		Third Quarter 2013		Fourth Quarter 2013
Total home sales revenues	$	21,479	$	36,519	$	37,035	$	65,034
Gross margin	5,662		10,194		9,952		12,934
Income before income taxes	2,497		5,102		5,287		9,917
Net income	2,450		5,013		5,150		9,124
Net income attributable to owners	2,450		5,158		5,588		9,131
Basic and diluted earnings per share (1)	—		—		—		0.34



	First Quarter 2012		Second Quarter 2012		Third Quarter 2012		Fourth Quarter 2012
Total home sales revenues	$	12,333	$	15,527	$	22,851	$	23,109
Gross margin	3,261		4,327		6,152		5,549
Income before income taxes	1,433		2,417		3,782		2,390
Net income	1,402		2,384		3,750		2,332
Net income attributable to owners	1,334		2,384		3,655		2,332
Basic and diluted earnings per share (1)	—		—		—		—

(1) Earnings per share is presented for the period from November 13, 2013 (post Reorganization Transactions and date of closing of IPO) to December 13, 2013. See Note 11 - Equity for calculation of earnings per share.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2013
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Second Amended and Restated Loan Agreement On January 30, 2014, certain subsidiaries (the "Borrowers") of the Company entered into a Second Amended and Restated Loan Agreement with Texas Capital Bank, N.A. (the “Credit Agreement”). The Credit Agreement provides for a $50.0 million senior secured revolving credit facility, guaranteed by the Company. The new revolving credit facility matures on June 30, 2016. Borrowings under the new revolving credit facility are limited to the borrowing base, which is determined based on the loan value of the pool of collateral in which the lender has a security interest. The Company may add vacant lots, houses, land and acquisition and development projects to its pool of collateral through June 30, 2015. Pre-sold houses may remain in the borrowing base for up to nine months while model homes, speculative homes and vacant lots may remain in the borrowing base for up to one year. Interest on amounts borrowed is paid monthly at a rate based on LIBOR or the interest rate floor, whichever is greater. The Credit Agreement includes financial covenants that will be tested on a quarterly basis. The Credit Agreement requires the Borrowers to maintain a net worth of not less than $35.0 million and the Company, as guarantor, to maintain a tangible net worth of not less than $125.0 million. The Credit Agreement also requires the Borrowers to maintain a leverage ratio of not more than 1.25 to 1.0 and the Company, as guarantor, to maintain a leverage ratio of not more than 1.0 to 1.0. The Borrowers are required under the Credit Agreement to maintain liquidity in excess of $10.0 million and unrestricted cash of not less than $5.0 million. The Credit Agreement requires that the Borrowers shall not suffer net losses in more than two consecutive calendar quarters. In addition, the Credit Agreement contains various covenants that, among other restrictions, limit the amount of additional debt and related party transactions. Performance Based Restricted Stock Units In February 2014, the Compensation Committee approved awards of 62,906 performance-based restricted stock units (“Performance-Based RSUs”) relating to shares of the Company’s common stock to certain of its senior management. The Performance-Based RSUs are based on the attainment of certain performance metrics of the Company over the three year period, 2014 - 2016. The number of shares underlying the Performance-Based RSUs that will be issued to the recipients may range from 0% to 200% of the base award depending on actual performance metrics as compared to the target performance metrics. The Performance-Based RSUs vest upon the determination date for the actual performance metric at the end of the three-year period and require the recipients continue to be employed by the Company through the determination date as specified in the award document. The Performance-Based RSUs will be settled in shares of the Company's common stock. The value of the Performance-Based RSUs was determined to be equal to the estimated number of shares of the Company’s common stock to be issued multiplied by the closing price of the Company’s common stock on the NASDAQ Global Markets of $17.09 on the date the Performance-Based RSU awards were approved by the Compensation Committee. The estimated aggregate fair value of performance-based RSUs at the date of issuance was $1.1 million. Non-performance Based Restricted Stock Units In March 2014, the Company issued 37,307 RSUs to certain officers in settlement of approximately $642,000 of accrued bonuses earned and recorded as compensation expense during the period subsequent to the IPO and prior to December 31, 2013 under the performance-based cash bonus plan. The RSUs have a one-year vesting period. In addition, during March 2013, the Company issued 24,089 RSUs to certain employees and executives which vest over periods ranging from one to three years. The RSUs will be settled in shares of the Company’s common stock.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2013
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles ("GAAP") and include the accounts of LGI Homes, Inc. and all of its subsidiaries subsequent to November 13, 2013, the closing date for the Reorganization Transactions and the IPO. All intercompany balances and transactions have been eliminated in consolidation. For the periods prior to the Reorganization Transactions, the accompanying consolidated financial statements include the accounts of the LGI Homes, Inc. and the results of operations since the date of its formation, July 9, 2013, and the Predecessor's historical combined accounts and results of operations for January 1, 2011 to November 13, 2013. All intercompany balances and transactions have been eliminated in consolidation and all intracompany balances and transactions have been eliminated in combination.
Use of Estimates	Use of Estimates 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.
Cash and Cash Equivalents and Concentration of Credit Risk	Cash and Cash Equivalents and Concentration of Credit Risk Cash and cash equivalents are defined as cash on hand, demand deposits with financial institutions, and short-term liquid investments with an initial maturity date of less than three months. The Company’s cash in demand deposit accounts may exceed federally insured limits. Management monitors the cash balances in the Company’s operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be negatively impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or diminished access to cash in their operating accounts.
Accounts Receivable	Accounts Receivable Accounts receivable consist primarily of proceeds due from title companies for sales closed prior to period end and are generally collected within a few days from closing.
Real Estate Inventory	Real Estate Inventory Inventory consists of land, land under development, finished lots, sales offices, homes in progress, and completed homes. Inventory is stated at cost unless the carrying amount is determined not to be recoverable, in which case the affected inventory is written down to fair value. Land, development and other project costs, including interest and property taxes incurred during development and home construction, are capitalized to real estate inventory. Land development and other common costs that benefit the entire community, including field construction supervision and related direct overhead, are allocated to individual lots or homes, as appropriate. The costs of lots are transferred to homes in progress when home construction begins. Home construction costs and related carrying charges (principally capitalized interest and property taxes) are allocated to the cost of individual homes using the specific identification method. Costs that are not specifically identifiable to a home are allocated on a pro rata basis using the total number of lots in the community. Management believes the allocation of land development costs on a pro rata basis approximates the allocation using relative sales value. Inventory costs for completed homes are expensed to cost of sales as homes are sold. Changes to estimated total development costs subsequent to initial home closings in a community are generally allocated to the remaining unsold lots and homes in the community on a pro rata basis. The life cycle of a community generally ranges from two to five years, commencing with the acquisition of land, continuing through the land development phase, and concluding with the construction and sale of homes. A constructed home is used as the community sales office during the life of the community and then sold. Actual individual community lives will vary based on the size of the community, the sales absorption rate, and whether the property was purchased as raw land or finished lots. In accordance with the provisions of ASC Topic 360, Property, Plant, and Equipment, real estate inventory is evaluated for indicators of impairment by each community during each reporting period. In conducting its review for indicators of impairment on a community level, management evaluates, among other things, the margins on homes that have been sold, communities with slow moving inventory, projected margins on future home sales over the life of the community, and the estimated fair value of the land. For individual communities with indicators of impairment, additional analysis is performed to estimate the community’s undiscounted future cash flows. If the estimated undiscounted future cash flows are greater than the carrying value of the community group of assets, no impairment adjustment is required. If the undiscounted cash flows are less than the community’s carrying value, the asset group is impaired and is written down to its fair value. The Company estimates the fair value of communities using a discounted cash flow model. As of December 31, 2013 and 2012, the real estate inventory is stated at cost; there were no inventory impairment charges recorded during the years ended December 31, 2013, 2012 and 2011.
Capitalized Interest	Capitalized Interest Interest and other financing costs are capitalized as cost of inventory during community development and home construction activities, in accordance with ASC Topic 835, Interest (“ASC 835”) and expensed in cost of sales as homes in the community are sold. To the extent the debt exceeds qualified assets, a portion of the interest incurred is expensed.
Pre-Acquisition Costs and Deposits	Pre-Acquisition Costs and Deposits Amounts paid for land options, deposits on land purchase contracts, and other pre-acquisition costs are capitalized and classified as deposits to purchase. Upon execution of the purchase, these deposits are applied to the acquisition price of the land and recorded as a cost component of the land in real estate inventory. To the extent that any deposits are nonrefundable and the associated land acquisition process is terminated or no longer determined probable, the related deposits are charged to general and administrative expense. Management reviews the likelihood of the acquisition of contracted lots in conjunction with its periodic real estate impairment analysis.
Deferred Loan Costs	Deferred Loan Costs Deferred loan costs represent debt issuance costs and, depending on the nature and purpose of the loan, are capitalized to real estate inventory or amortized to interest expense using the straight-line method which approximates the effective interest method.
Property and Equipment	Property and Equipment Property, equipment and leasehold improvements are stated at cost, less accumulated depreciation. Depreciation expense is recorded in general and administrative expenses. Upon sale or retirement, the costs and related accumulated depreciation are eliminated from the respective accounts and any resulting gain or loss is included in other income, net. Depreciation is generally computed using the straight-line method over the estimated useful lives of the assets, ranging from 3 to 7 years for property and equipment. Leasehold improvements are depreciated over the shorter of the asset life or the term of the lease. Maintenance and repair costs are expensed as incurred. Impairments of long-lived assets are determined periodically when indicators of impairment are present. If such indicators are present, the determination of the amount of impairment is based on judgments as to the future undiscounted operating cash flows to be generated from these assets throughout their remaining estimated useful lives. If these undiscounted cash flows are less than the carrying amount of the related asset, impairment is recognized for the excess of the carrying value over its fair value. There were no impairments of property, equipment and leasehold improvements recorded during the years ended December 31, 2013, 2012 and 2011.
Investments in Joint Ventures and Unconsolidated Variable Interest Entities (VIEs)	Investments in Joint Ventures and Unconsolidated Variable Interest Entities (VIEs) Historically, the Predecessor functioned as the managing member of several joint ventures conducting homebuilding activities; these joint ventures became wholly-owned subsidiaries of the Company as a result of the Reorganization Transactions and the GTIS Acquisitions. In accordance with ASC Topic 810, Consolidation, management had assessed whether these entities were VIEs. The Predecessor had variable interests in the joint venture arrangements that it managed, and these joint ventures were determined to be VIEs because the members of the joint ventures, as a group, had insufficient equity at risk without further capital contributions. The Predecessor’s rights as well as the rights held by the other joint venture members had been evaluated to determine the primary beneficiary of the VIE, including the extent of substantive participating rights and control of activities that most significantly affected its economic performance. Such activities included, but were not limited to, the ability to determine the budget and scope of land development work, if any; the ability to control financing decisions for the VIE; and the ability to acquire additional land into the VIE. If the Predecessor was not able to control the significant decisions, the Predecessor was not considered the primary beneficiary of the VIE. If the Predecessor was determined to be the primary beneficiary of the VIE, the entity was consolidated in the Predecessor's financial statements. The Predecessor had investments in four joint ventures where the Predecessor and the other joint venture members were deemed to have joint control and the Predecessor was not the primary beneficiary since all major decisions required both parties’ consent. Accordingly, the Predecessor’s interests in these joint ventures have been accounted for using the equity method and its share of the joint ventures’ net earnings was included in income from unconsolidated joint ventures and investments in unconsolidated joint ventures. Distributions received were credited against the related investment in the joint venture. In addition, the Predecessor had interests in two VIE’s (LGI Homes – Sterling Lakes, LLC and LGI Fund III Holdings, LLC) where it had been determined that the Predecessor was the primary beneficiary. In addition to the Predecessor serving as the managing member of these entities, the Family Principals of the Predecessor also held the general partner controlling interests in the non-managing members of the VIEs. As a result, the Predecessor combined with the Family Principals’ related party interests had the power to direct all significant activities of the VIEs, and had exposure to the risks and rewards of the VIEs, based on the division of income and loss pursuant to the joint venture agreement and the Predecessor’s ownership in the joint ventures. These two VIEs are consolidated in the accompanying consolidated financial statements. Management evaluated the Company’s investments in unconsolidated entities for indicators of impairment during each reporting period. No impairment charges were recorded related to investments in unconsolidated entities during the periods presented.
Insurance Costs and Reserves	Insurance Costs and Reserves The Company has deductible limits under workers’ compensation, automobile and general liability insurance policies, and records expense and liabilities for the estimated costs of potential claims for construction defects. The excess liability limits are $3 million per occurrence and in the aggregate annually and apply in excess of automobile liability, employer’s liability under worker's compensation, and general liability policies. The Company generally requires subcontractors and design professionals to indemnify the Company for liabilities arising from their work, subject to certain limitations.
Goodwill and Intangible Assets	Goodwill and Intangible Assets The excess of the purchase price of a business acquisition over the net fair value of assets acquired and liabilities assumed is capitalized as goodwill in accordance with ASC Topic 805. ASC Topic 805 requires that goodwill and intangible assets that do not have finite lives are not amortized, but are assessed for impairment at least annually or more frequently if certain impairment indicators are present. The Company recorded $12.0 million of goodwill related to the GTIS Acquisitions. No goodwill impairment charges were recorded in 2013. The costs of intangible assets with determinable useful lives are amortized over their estimated useful lives. When certain events or changes in operating conditions occur, the estimated future undiscounted cash flows associated with the asset are compared to the asset’s carrying amount to determine if an impairment of such assets is necessary. For intangible assets that are amortized, a review is performed of their estimated useful lives to evaluate whether events and circumstances warrant a revision to the remaining useful life. No impairment charges were recorded in 2013 associated with intangible assets.
Warranty Reserves	Warranty Reserves Future direct warranty costs are accrued and charged to cost of sales in the period when the related home is sold. The Company’s warranty liability is based upon historical warranty cost experience and is adjusted as appropriate to reflect qualitative risks associated with the types of homes built, the geographic areas in which they are built, and potential impacts of the Company's continued expansion. Warranty reserves are reviewed quarterly to assess the reasonableness and adequacy and to make adjustments to the balance of the pre-existing reserves, as needed, to reflect changes in trends and historical data as information becomes available.
Customer Deposits	Customer Deposits Customer deposits are received upon signing a purchase contract and are typically $500 - $1,000. Deposits are generally refundable if the customer is unable to obtain financing. Forfeited buyer deposits related to home sales are recognized in other (income) expense in the period in which it is determined that the buyer will not complete the purchase of the property and the deposit is nonrefundable to the buyer.
Home Sales	Home Sales In accordance with ASC Topic 360 – 20, Real Estate Sales, revenues from home sales are recorded at the time each home sale is closed, title and possession are transferred to the buyer, and there is no significant continuing involvement of the Company with the home. Home sales proceeds are generally received from the title company within a few days from closing. Home sales are reported net of sales discounts and incentives granted to home buyers, which are primarily seller-paid closing costs.
Cost of Sales	Cost of Sales As discussed under Real Estate Inventory, above, cost of sales for homes closed include the construction costs of each home and allocable land acquisition and land development costs, capitalized interest, and other related common costs (both incurred and estimated to be incurred).
Selling and Commission Costs	Selling and Commission Costs Sales commissions are paid and expensed based on homes sold. Other selling costs are expensed in the period incurred.
Advertising Costs	Advertising Costs Advertising and direct mail costs are expensed as incurred.
Income Taxes	Income Taxes LGI Homes, Inc. is a taxable entity. Prior to the Reorganization Transactions, the Predecessor consisted of limited liability companies and limited partnerships, all of which were treated as partnerships for income tax purposes and federal income taxes on taxable income or losses realized by the Predecessor were the obligation of the individual members or partners. As a result of the Reorganization Transactions, the Predecessor entities are subject to federal and state income taxes. The accompanying financial statements include a provision for income taxes based on the period when the Company’s operations are taxable. The Company utilizes the liability method of accounting for income taxes. Under the liability method, deferred tax assets and liabilities are recognized using enacted tax rates for the effect of temporary differences between the book and tax bases of recorded assets and liabilities. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion or all of the net deferred tax assets will not be realized. The Company’s ability to realize deferred tax assets is assessed throughout the year and a valuation allowance is established accordingly. The Company recognizes the impact of a tax position only if it is more likely than not to be sustained upon examination based on the technical merits of the position. The Company recognizes potential interest and penalties related to uncertain tax positions in income tax expense. See Note 10 for additional disclosures regarding income taxes. The Company files income tax returns in the U.S. federal jurisdiction and in various states and does not have any unrecognized tax benefits. The Company will be subject to examinations by the major tax jurisdictions in which it files. Prior to the Reorganization Transactions, the Predecessor was subject to certain state taxes and fees, including the Texas margin tax, where applicable. There were no significant deferred income taxes related to state income taxes for the years ended December 31, 2013, 2012 and 2011.
Earnings Per Share	Earnings Per Share Basic earnings per share is based on the weighted average number of shares of common stock outstanding. Diluted earnings per share is based on the weighted average number of shares of common stock and dilutive securities outstanding. Non-vested stock grants were the only potentially dilutive share equivalents the Company had outstanding at December 31, 2013.
Share-Based Compensation	Stock-Based Compensation The compensation expense for stock-based awards is based on the fair value of the award and is recognized on a straight-line basis over the vesting period. The fair values of restricted stock units are based on the stock prices at the date of grant.
Fair Value Measurement of Financial Instruments	Fair Value Measurement of Financial Instruments ASC Topic 820, Fair Value Measurements (“ASC Topic 820”), defines fair value as “the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date” within an entity’s principal market, if any. The principal market is the market in which the reporting entity would sell the asset or transfer the liability with the greatest volume and level of activity, regardless of whether it is the market in which the entity will ultimately transact for a particular asset or liability or if a different market is potentially more advantageous. Accordingly, this exit price concept may result in a fair value that differs from the transaction price or market price of the asset or liability. ASC Topic 820 provides a framework for measuring fair value under GAAP, expands disclosures about fair value measurements, and establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of the fair value hierarchy are summarized as follows: Level 1 - Fair value is based on quoted prices in active markets for identical assets or liabilities. Level 2 - Fair value is determined using significant observable inputs, generally either quoted prices in active markets for similar assets or liabilities, or quoted prices in markets that are not active. Level 3 - Fair value is determined using one or more significant inputs that are unobservable in active markets at the measurement date, such as a pricing model, discounted cash flow, or similar technique. The Company utilizes fair value measurements to account for certain items and account balances within its consolidated financial statements. Fair value measurements may also be utilized on a nonrecurring basis, such as for the impairment of long-lived assets. The fair value of financial instruments, including cash and cash equivalents, accounts receivable and notes payable, approximate their carrying amounts due to the short term nature of these instruments. In addition, as of December 31, 2013, the notes payable have a floating interest rate, which increases or decreases with market interest rates, and is subject to an interest rate floor. As described in Note 2, the Predecessor’s historical interests in the LGI/GTIS Joint Ventures were adjusted to fair value determined using Level 3 unobservable assumptions and valuation inputs. The assets and liabilities of the LGI/GTIS Joint Ventures were recorded at fair value determined based on Level 2 or Level 3 assumptions and valuation inputs.

Acquisition of LGI/GTIS Joint Venture Partners' Interests (Tables)

12 Months Ended

Dec. 31, 2013

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed



Financial Statement Caption	Total
Cash and cash equivalents	$	6,709
Real estate inventory	38,419
Land purchase option contract	479
Other assets	951
Goodwill	12,018
Intangible asset	740
Accounts payable and accrued and other liabilities	(6,734		)
Net assets of the LGI/GTIS Joint Ventures at fair value	$	52,582



Financial Statement Caption	Total
Cash consideration paid to GTIS	$	36,848
Company's common stock issued to GTIS	4,500
Predecessor's equity interests in the LGI/GTIS Joint Ventures at fair value	11,234
	$	52,582

Predecessor's equity interests in the LGI/GTIS Joint Ventures at fair value	11,234
Less carrying basis of Predecessor's equity interests using the equity method of accounting	4,789
Gain on remeasurement of the Predecessor's equity interest in the LGI/GTIS Joint Ventures in connection with the GTIS Acquisitions	$	6,445

Schedule of Actual Results of Acquiree Since Acquisition Date



Home sales revenues	$	19,988
Cost of sales	$	18,159
Net income before income taxes	$	5,911

Schedule of Pro Forma Information



	Pro Forma Financial Information for the Company
	For the Year Ended December 31,
	2013		2012
Home sales revenues	$	240,963	$	143,378
Cost of sales	$	179,831	$	104,229
Net income before income taxes	$	22,922	$	18,613

Real Estate Inventory (Tables)

12 Months Ended

Dec. 31, 2013

Inventory Disclosure [Abstract]

Schedule of Real Estate Inventory

The Company's real estate inventory consists of the following:



	December 31,
	2013		2012
Land, land under development, and finished lots	$	82,006,081	$	8,538,631
Sales offices	3,784,295		912,461
Homes in progress	27,722,361		8,045,848
Completed homes	28,470,007		10,992,251
Total real estate inventory	$	141,982,744	$	28,489,191

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment consist of the following:



		December 31,
	Asset Life	2013			2012
	(years)
Computer equipment	3-5	$	498,660		$	291,112
Machinery, equipment and vehicles	4-5	169,226			707,554
Furniture and fixtures	5-7	745,186			338,647
Leasehold improvements	various	108,367			18,643
Total property and equipment		1,521,439			1,355,956
Less: Accumulated depreciation		(676,732		)	(636,566		)
Property and equipment, net		$	844,707		$	719,390

Non-Cash Transactions related to Property and Equipment

The following are related to property and equipment:



	For the Year Ended December 31,
	2013		2012
Related party transaction:
Equipment sold to the LGI/GTIS Joint Ventures at net book value	$	29,233	$	177
Non-cash transaction:
Settlement of vehicle notes payable (through trade in or assumption by purchaser)	$	315,084	$	—

Investments in Joint Ventures, Variable Interest Entities and Non-Controlling Interests (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Equity Method Investments [Line Items]

Summary of Condensed Combined Financial Information Accounted for Equity Method



Joint Venture Name	Date Formed	Predecessor's Member
LGI—JV Holdings, LLC	March 2010	LGI Homes Corporate, LLC
LGI—JV Holdings II, LLC	November 2010	LGI Homes Corporate, LLC through March 2011, then interest transferred to LGI Homes Group, LLC
LGI—JV Holdings III, LLC	March 2011	LGI Homes Group, LLC
LGI—JV Holdings IV, LLC	October 2012	LGI Homes Group, LLC

LGI/GTIS Joint Venture

Schedule of Equity Method Investments [Line Items]

Summary of Condensed Combined Financial Information Accounted for Equity Method

Summarized condensed combined financial information of the LGI/GTIS Joint Ventures accounted for using the equity method is presented below for the period through the date of the GTIS Acquisitions:



	November 13,		December 31,
Balance Sheets	2013		2012
Assets:
Cash and cash equivalents	$	6,709,450	$	4,129,107
Total real estate inventory	30,989,395		26,835,602
Other assets	951,144		2,128,764
Total assets	$	38,649,989	$	33,093,473
Liabilities and members’ equity:
Liabilities	$	6,723,063	$	3,451,448
Members’ equity:
Predecessor	4,789,038		4,446,302
GTIS members	27,137,888		25,195,723
Total members’ equity	31,926,926		29,642,025
Total liabilities and members’ equity	$	38,649,989	$	33,093,473



	Period Ended November 13,		Year Ended December 31,
Statements of Operations	2013		2012		2011
Home sales	$	80,895,653	$	69,558,302	$	32,995,219
Cost of sales	$	58,717,993	$	49,750,920	$	22,761,370
Net earnings of unconsolidated entities	$	10,873,404	$	10,176,430	$	4,765,051
Predecessor's share in net earnings of unconsolidated entities	$	4,286,639	$	1,526,464	$	714,758

Other Assets (Tables)

12 Months Ended

Dec. 31, 2013

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Assets

Other assets consist of the following:



	December 31,
	2013		2012
Receivable from municipality	$	—	$	1,250,000
Prepaid insurance	1,205,018		286,356
Prepaid expenses	291,243		34,382
Security deposits	468,370		299,132
Other assets	—		14,230
Total other assets	$	1,964,631	$	1,884,100

Accrued Expenses and Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2013

Payables and Accruals [Abstract]

Accrued and Other Current Liabilities

Accrued and other current liabilities consist of the following:



	December 31,
	2013		2012
Accrued liabilities	$	3,531,448	$	948,807
Accrued bonuses	1,055,057		583,242
Warranty reserve	630,000		450,000
Income taxes payable	1,553,683		119,473
Customer deposits	330,030		75,423
Total accrued expenses and other liabilities	$	7,100,218	$	2,176,945

Changes in Companies' Warranty Accrual

Changes to the Company's warranty accrual are as follows:



	December 31,
	2013			2012
Warranty reserves, beginning of year	$	450,000		$	275,000
Warranty provision	763,734			409,057
Warranty reserve acquired in GTIS Acquisitions	30,000			—
Warranty expenditures	(613,734		)	(234,057		)
Warranty reserves, end of year	$	630,000		$	450,000

Notes Payable (Tables)

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Schedule of Notes Payable



	December 31,
	2013		2012 (1)
LGI Homes Group, LLC—Notes payable to Texas Capital Bank, N.A. under an amended credit facility ($35 and $20 million line at December 31, 2013 and 2012, respectively) expiring June 30, 2015; interest at LIBOR plus 3.0% at December 31, 2013 and 2012, with a 4.0% and 4.5% floor at December 31, 2013 and 2012, respectively; collateralized by borrower’s land, development and home construction costs (carrying value of $106.1 at December 31, 2013); guaranteed by a family Principal, the managing member, and non-managing members as joint and several guarantors	$	34,078,260	$	12,270,636
LGI Homes—Sunrise Meadow, LLC and LGI Holdings, LLC—Notes payable to Texas Capital Bank, N.A. under an amended credit facility ($2 and $5 million line at December 31, 2013 and 2012, respectively) expiring December 31, 2013; interest at LIBOR plus 3.9% at December 31, 2013 and 2012, with a 4.0% and 4.5% floor at December 31, 2013 and 2012, respectively; collateralized by borrowers’ land, development and home construction costs (carrying value of $5.1 at December 31, 2013); guaranteed by a Family Principal	1,457,000		835,363
LGI Homes—Texas, LLC—Notes payable to Regions Bank, under an amended $3 million revolving credit facility expiring March 29, 2014; interest at LIBOR plus 4.0%, with a 5% floor; collateralized by borrowers’ land, development and home construction costs; guaranteed by LGI Homes Corporate, LLC; the credit facility was paid in full in September 2013	—		1,225,121
LGI Homes Corporate, LLC—Notes payable to banks; interest rates ranging from 0% to 4.3%; principal and interest is payable in monthly installments; maturity dates ranged from July 2014 through December 2016; collateralized by vehicles, the notes were settled during September 2013	—		425,120
LGI Homes—Sunrise Meadow, LLC participation fee obligation, secured by second lien on LGI Homes—Sunrise Meadow, LLC land, development, and home construction assets; guaranteed by a family Principal	—		212,522
Total notes payable	$	35,535,260	$	14,968,762


(1)	As of December 31, 2012, the Company's construction and development activities were financed through credit facilities generally providing for secured notes for the construction of individual homes and/or completed lots, with maturities ranging from 9 – 12 months from the borrowing date.

Schedule of Interest Activity for Notes Payable

Interest activity, including other financing costs, for notes payable for the periods presented is as follows:



	Year Ended December 31,
	2013			2012			2011
Interest incurred	$	1,377,922		$	823,925		$	1,254,294
Less: Amounts capitalized	(1,326,976		)	(822,691		)	(1,226,142		)
Interest expense	$	50,946		$	1,234		$	28,152

Cash paid for interest	$	1,220,334		$	790,058		$	1,274,708

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes consisted of the following:



	Year ended December 31,
	2013			2012		2011
Current:
Federal	$	841,254		$	—	$	—
State	512,599			154,542		124,891
Current tax provision	1,353,853			154,542		124,891
Deferred:
Federal	(264,499		)	—		—
State	(23,282		)	—		—
Deferred tax benefit	(287,781		)	—		—
Total income tax provision	$	1,066,072		$	154,542	$	124,891

Schedule of Effective Income Tax Rate Reconciliation



	November 13, 2013 - December 31, 2013					Year Ended December 31, 2013
Tax at federal statutory rate	$	2,725,053		35.0	%	$	7,981,164		35.0	%
State income taxes (net of federal benefit)	48,362			0.6		438,694			1.9
Non-deductible expenses and other	517			0.1		517			0.1
Non-taxable - gain on remeasurement	(2,256,087		)	(29.0	)	(2,256,087		)	(9.9	)
Domestic production activity deduction	(87,618		)	(1.1	)	(87,618		)	(0.4	)
Change in tax status of entity - deferred taxes	245,513			3.2		245,513			1.1
Income attributable to partnerships - nontaxable	—			—		(5,256,111		)	(23.1	)
Tax at effective rate	$	675,740		8.8	%	$	1,066,072		4.7	%

Schedule of Deferred Tax Assets and Liabilities

The components of net deferred tax assets and liabilities at December 31, 2013, are as follows:



	December 31, 2013
Deferred tax assets:
Compensation related to RSU's	$	395,119
Accruals and reserves	469,902
Total deferred tax assets	865,021
Deferred tax liabilities:
Inventory	(258,414		)
Tax depreciation in excess of book depreciation	(223,316		)
Goodwill and other assets amortized for tax	(95,510		)
Total deferred tax liability	$	(577,240	)
Total net deferred tax asset (liability)	$	287,781

Equity (Tables)

12 Months Ended

Dec. 31, 2013

Equity [Abstract]

Schedule of Earnings Per Share, Basic and Diluted



	For the Period from November 13, 2013 - December 31, 2013

Net income	$	7,110,126

Basic weighted average shares outstanding	20,763,449

Add: Dilutive effect of restricted stock units	70,675
Diluted weighted average shares outstanding	20,834,124

Basic earnings per share	$	0.34
Diluted earnings per share	$	0.34

Owners' Equity of LGI Homes Group

The following table reflects the activity and balances in the owners’ equity of the Predecessor prior to the Reorganization Transactions:



	LGI Homes Group, LLC Members’ Capital			LGI Homes Corporate, LLC Members’ Capital			LGI Homes- Deer Creek, LLC Members’ Capital			Other Partnerships’ Capital			Total Owners’ Equity
BALANCE—JANUARY 1, 2011	$	—		$	2,296,924		$	42,716		$	8,710,673		$	11,050,313
Net income	152,626			878,184			764,751			1,554,858			3,350,419
Contributions	3,960,000			—			400,000			—			4,360,000
Distributions	—			—			(250,000		)	(5,520,000		)	(5,770,000		)
BALANCE—DECEMBER 31, 2011	$	4,112,626		$	3,175,108		$	957,467		$	4,745,531		$	12,990,732
Net income	6,445,381			2,258,226			802,166			199,356			9,705,129
Contributions	6,650,000			—			—			—			6,650,000
Distributions	(53,287		)	(2,001,964		)	(1,759,633		)	(320,000		)	(4,134,884		)
BALANCE—DECEMBER 31, 2012	$	17,154,720		$	3,431,370		$	—		$	4,624,887		$	25,210,977
Net income	11,892,452			1,883,297			—			1,441,198			15,216,947
Contributions	—			2,500,000			—			35,000			2,535,000
Distributions	(6,969,567		)	(1,468,800		)	—			(672,839		)	(9,111,206		)
BALANCE—NOVEMBER 13, 2013	$	22,077,605		$	6,345,867		$	—		$	5,428,246		$	33,851,718

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Receivables Due from and Payables Due to Related Parties



	December 31,
	2013		2012
Receivables:
LGI/GTIS Joint Ventures	$	—	$	985,719
Other affiliates and owners	28,236		41,206
Total	$	28,236	$	1,026,925
Payables:
LGI/GTIS Joint Ventures	$	—	$	108,577
Total	$	—	$	108,577

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2013

Commitments and Contingencies Disclosure [Abstract]

Summary of Land Purchase Deposits and Option Contracts Included Pre-Acquisition Cost and Deposits

The following is a summary of the Company's land purchase deposits and option contracts included in pre-acquisition costs and deposits:



	December 31,
	2013		2012
Land deposits and option payments	$	2,977,050	$	963,500
Commitments under the land purchase option and deposit agreements if the purchases are consummated	$	111,114,993	$	33,057,761
Lots under land options and land purchase contracts	8,214		2,242

Schedule of Future Minimum Rental Payments for Operating Leases

Future minimum lease payments under non-cancellable operating lease agreements are as follows at December 31, 2013 (in thousands):



2014	$	381
2015	407
2016	431
2017	460
2018	298
Thereafter	7
Total	$	1,984

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

Quarterly results are as follows (in thousands, except per share data):



	First Quarter 2013		Second Quarter 2013		Third Quarter 2013		Fourth Quarter 2013
Total home sales revenues	$	21,479	$	36,519	$	37,035	$	65,034
Gross margin	5,662		10,194		9,952		12,934
Income before income taxes	2,497		5,102		5,287		9,917
Net income	2,450		5,013		5,150		9,124
Net income attributable to owners	2,450		5,158		5,588		9,131
Basic and diluted earnings per share (1)	—		—		—		0.34



	First Quarter 2012		Second Quarter 2012		Third Quarter 2012		Fourth Quarter 2012
Total home sales revenues	$	12,333	$	15,527	$	22,851	$	23,109
Gross margin	3,261		4,327		6,152		5,549
Income before income taxes	1,433		2,417		3,782		2,390
Net income	1,402		2,384		3,750		2,332
Net income attributable to owners	1,334		2,384		3,655		2,332
Basic and diluted earnings per share (1)	—		—		—		—

(1) Earnings per share is presented for the period from November 13, 2013 (post Reorganization Transactions and date of closing of IPO) to December 13, 2013. See Note 11 - Equity for calculation of earnings per share.

Organization and Business (Details) - USD ($)			2 Months Ended	12 Months Ended
Organization and Business (Details) - USD ($)	Nov. 13, 2013	Jul. 09, 2013	Dec. 31, 2013	Dec. 31, 2013
Class of Stock [Line Items]
Percentage of ownership before transaction	50.00%
Adjustment of deferred tax (asset) liability			$ 245,513
Common Stock
Class of Stock [Line Items]
Issuance of shares (in shares)		1,000
IPO \| Common Stock
Class of Stock [Line Items]
Issuance of shares (in shares)	10,350,000
Proceeds from issuance initial public offering, net of issuance costs	$ 102,600,000
Expense related to distributions or servicing and underwriting fees	8,000,000
Other offering expenses	$ 3,200,000
Share price	$ 11.00
Common Stock \| IPO
Class of Stock [Line Items]
Issuance of shares (in shares)				10,350,000
Common Stock \| Reorganization
Class of Stock [Line Items]
Issuance of shares (in shares)				10,003,358
LGI-GTIS Holdings III, LLC \| Common Stock \| Reorganization
Class of Stock [Line Items]
Issuance of shares (in shares)				2,161,580

Acquisition of LGI/GTIS Joint Venture Partners' Interests - Additional Information (Details)		2 Months Ended	12 Months Ended
	Nov. 13, 2013 USD ($) joint_venture shares	Dec. 31, 2013 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)
Business Acquisition [Line Items]
Gain on remeasurement of the Predecessor's equity interest in the LGI/GTIS Joint Ventures in connection with the GTIS Acquisitions			$ 6,445,964	$ 0	$ 0
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Cost of sales, actual		$ 18,159,000
Net income before income taxes			22,922,000	18,613,000
Minimum
Business Acquisition [Line Items]
Fair value inputs discount rate	14.00%
Maximum
Business Acquisition [Line Items]
Fair value inputs discount rate	18.00%
LGI GTIS Joint Venture Partners' Interests
Business Acquisition [Line Items]
Number of businesses acquired \| joint_venture	4
Aggregate consideration	$ 41,300,000
Cash consideration paid to GTIS	$ 36,848,000
Equity interest issued, number of shares \| shares	409,091
Equity interest issued	$ 4,500,000
Net assets of the LGI/GTIS Joint Ventures at fair value	46,500,000
Enterprise fair value allocated to Predecessor	15,000,000
Predecessor's equity interests in the LGI/GTIS Joint Ventures at fair value	$ 11,234,000
Lack of control and marketability discount percentage	25.00%
Gain on remeasurement of the Predecessor's equity interest in the LGI/GTIS Joint Ventures in connection with the GTIS Acquisitions	$ 6,445,000
Intangible asset	$ 740,000
Acquired intangible assets, weighted average useful life	3 years
Amortization expense			31,000
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2014		200,000	200,000
2015		200,000	200,000
2016		200,000	200,000
Goodwill	$ 12,018,000
Consideration transferred including equity interest in acquired held prior to combination	52,582,000
Assets acquired and liabilities assumed, net	40,600,000
Goodwill not tax deductible	$ 4,800,000
Fair value step-up adjustment, inventory		7,400,000
LGI GTIS Joint Venture Partners' Interests \| Fair value adjustment to inventory
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Cost of sales, actual		$ 3,500,000
LGI GTIS Joint Venture Partners' Interests \| Amortization expense
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Net income before income taxes			$ (200,000)	$ (200,000)

Acquisition of LGI/GTIS Joint Venture Partners' Interests - Assets Acquired and Liabilities Assumed (Details) - USD ($)		12 Months Ended
	Nov. 13, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Business Combination, Step Acquisition [Abstract]
Gain on remeasurement of the Predecessor's equity interest in the LGI/GTIS Joint Ventures in connection with the GTIS Acquisitions		$ 6,445,964	$ 0	$ 0
LGI GTIS Joint Venture Partners' Interests
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Cash and cash equivalents	$ 6,709,000
Real estate inventory	38,419,000
Land purchase option contract	479,000
Other assets	951,000
Goodwill	12,018,000
Intangible asset	740,000
Accounts payable and accrued and other liabilities	(6,734,000)
Net assets of the LGI/GTIS Joint Ventures at fair value	52,582,000
Business Combination, Consideration Transferred, Including Equity Interest in Acquiree Held Prior to Combination [Abstract]
Cash consideration paid to GTIS	36,848,000
Company's common stock issued to GTIS	4,500,000
Predecessor's equity interests in the LGI/GTIS Joint Ventures at fair value	11,234,000
Consideration transferred including equity interest in acquired held prior to combination	52,582,000
Business Combination, Step Acquisition [Abstract]
Predecessor's equity interests in the LGI/GTIS Joint Ventures at fair value	11,234,000
Less carrying basis of Predecessor's equity interests using the equity method of accounting	4,789,000
Gain on remeasurement of the Predecessor's equity interest in the LGI/GTIS Joint Ventures in connection with the GTIS Acquisitions	$ 6,445,000

Acquisition of LGI/GTIS Joint Venture Partners' Interests - Pro Forma Information (Details) - USD ($) $ in Thousands	2 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2012
Actual Results from the LGI/GTIS Joint Ventures
Home sales revenues	$ 19,988
Cost of sales	18,159
Net income before income taxes	$ 5,911
Pro Forma Financial Information for the Company
Home sales revenues		$ 240,963	$ 143,378
Cost of sales		179,831	104,229
Net income before income taxes		$ 22,922	$ 18,613

Summary of Significant Accounting Policies - Additional Information (Detail)	10 Months Ended	12 Months Ended
	Nov. 13, 2013 USD ($) U_lgihJoint_Venture	Dec. 31, 2013 USD ($) VIE	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)
Real estate inventory:
Impairment of real estate inventory		$ 0	$ 0	$ 0
Property and Equipment:
Impairments of property, equipment and leasehold improvements		$ 0	0	0
Investments in Joint Ventures and Unconsolidated Variable Interest Entities (VIEs):
Number of investments in VIE's \| VIE		2
Impairment of investments		$ 0
Insurance Costs and Reserves:
Excess liability limits applied in automobile liability, employer’s liability under workers compensation, and general liability policies per occurrence		3,000,000
Goodwill and Intangible Assets:
Goodwill impairment		0
Intangible asset impairment		0
Advertising Costs:
Advertising and direct mail costs		$ 3,298,672	$ 1,803,027	$ 1,538,293
Minimum
Real estate inventory:
Life cycle of community		2 years
Property and Equipment:
Estimated useful life of asset		3 years
Customer deposits:
Typical customer deposits		$ 500
Maximum
Real estate inventory:
Life cycle of community		5 years
Property and Equipment:
Estimated useful life of asset		7 years
Customer deposits:
Typical customer deposits		$ 1,000
Predecessor
Investments in Joint Ventures and Unconsolidated Variable Interest Entities (VIEs):
Number of unconsolidated joint ventures \| U_lgihJoint_Venture	4
LGI GTIS Joint Venture Partners' Interests
Goodwill and Intangible Assets:
Goodwill	$ 12,018,000

Real Estate Inventory - Schedule of Real Estate Inventory (Detail) - USD ($)	Dec. 31, 2013	Dec. 31, 2012
Inventory Disclosure [Abstract]
Land, land under development, and finished lots	$ 82,006,081	$ 8,538,631
Sales offices	3,784,295	912,461
Homes in progress	27,722,361	8,045,848
Completed homes	28,470,007	10,992,251
Total real estate inventory	$ 141,982,744	$ 28,489,191

Property and Equipment - Schedule of Property and Equipment (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment [Line Items]
Property and equipment	$ 1,521,439	$ 1,355,956
Less: Accumulated depreciation	(676,732)	(636,566)
Property and equipment, net	$ 844,707	719,390
Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of asset	3 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of asset	7 years
Computer Equipment
Property, Plant and Equipment [Line Items]
Property and equipment	$ 498,660	291,112
Computer Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of asset	3 years
Computer Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of asset	5 years
Machinery, equipment and vehicles
Property, Plant and Equipment [Line Items]
Property and equipment	$ 169,226	707,554
Machinery, equipment and vehicles \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of asset	4 years
Machinery, equipment and vehicles \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of asset	5 years
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property and equipment	$ 745,186	338,647
Furniture and Fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of asset	5 years
Furniture and Fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of asset	7 years
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property and equipment	$ 108,367	$ 18,643

Property and Equipment - Non-Cash Transactions related to Property and Equipment (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment [Abstract]
Equipment sold to the LGI/GTIS Joint Ventures at net book value	$ 29,233	$ 177
Settlement of vehicle notes payable (through trade in or assumption by purchaser)	$ 315,084

Property and Equipment - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 260,778	$ 185,120	$ 79,747

Investments in Joint Ventures, Variable Interest Entities and Non-Controlling Interests - Summary of Condensed Combined Financial Information Accounted for Equity Method (Balance Sheets) (Detail) - LGI/GTIS Joint Venture - Predecessor - USD ($)	Nov. 13, 2013	Dec. 31, 2012
Assets
Cash and cash equivalents	$ 6,709,450	$ 4,129,107
Total real estate inventory	30,989,395	26,835,602
Other assets	951,144	2,128,764
Total assets	38,649,989	33,093,473
Liabilities and members’ equity:
Liabilities	6,723,063	3,451,448
Members’ equity:
Total members’ equity	31,926,926	29,642,025
Total liabilities and members’ equity	38,649,989	33,093,473
LGI Homes Group (Predecessor)
Members’ equity:
Predecessor	4,789,038	4,446,302
GTIS Members
Members’ equity:
GTIS members	$ 27,137,888	$ 25,195,723

Investments in Joint Ventures, Variable Interest Entities and Non-Controlling Interests - Summary of Condensed Combined Financial Information Accounted for Equity Method (Statements of Operations) (Detail) - USD ($)	10 Months Ended	12 Months Ended
	Nov. 13, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Statements of Operations
Predecessor's share in net earnings of unconsolidated entities		$ 4,286,639	$ 1,526,464	$ 714,758
LGI/GTIS Joint Venture \| Predecessor
Statements of Operations
Home sales	$ 80,895,653	69,558,302	32,995,219
Cost of sales	58,717,993	49,750,920	22,761,370
Net earnings of unconsolidated entities	10,873,404	10,176,430	4,765,051
Predecessor's share in net earnings of unconsolidated entities	$ 4,286,639	$ 1,526,464	$ 714,758

Investments in Joint Ventures, Variable Interest Entities and Non-Controlling Interests - Additional Information (Detail)		10 Months Ended	12 Months Ended
	Nov. 13, 2013 USD ($)	Nov. 13, 2013 USD ($) U_lgihJoint_Venture	Dec. 31, 2013 USD ($) VIE	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated LGI/GTIS Joint Ventures			$ 0	$ 4,446,302
Priority distributions from Unconsolidated Joint Ventures			$ 4,413,972	1,545,437	$ 607,500
Number of investments in VIE's \| VIE			2
(Income) loss attributable to non-controlling interests			$ (589,818)	162,969	$ 1,161,986
Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Percentage of internal rate of return	15.00%
Number of investments in VIE's \| VIE			2
Variable Interest Entity, Primary Beneficiary \| LGI Homes-Sterling Lakes, LLC
Schedule of Equity Method Investments [Line Items]
(Income) loss attributable to non-controlling interests				$ 162,969
Non-Managing Members \| Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Profit sharing percentage	85.00%
Companies \| Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Profit sharing percentage	15.00%
Companies \| Variable Interest Entity, Primary Beneficiary \| Minimum
Schedule of Equity Method Investments [Line Items]
Percentage of cash and profit distribution	20.00%	20.00%
Companies \| Variable Interest Entity, Primary Beneficiary \| Maximum
Schedule of Equity Method Investments [Line Items]
Percentage of cash and profit distribution	40.00%	40.00%
Predecessor
Schedule of Equity Method Investments [Line Items]
Number of unconsolidated joint ventures \| U_lgihJoint_Venture		4
Investments in unconsolidated LGI/GTIS Joint Ventures	$ 4,800,000	$ 4,800,000
Predecessor \| LGI/GTIS Joint Venture
Schedule of Equity Method Investments [Line Items]
Percentage of internal rate of return		15.00%
Predecessor \| LGI/GTIS Joint Venture \| GTIS Members
Schedule of Equity Method Investments [Line Items]
Profit sharing percentage		85.00%
Predecessor \| LGI/GTIS Joint Venture \| Companies
Schedule of Equity Method Investments [Line Items]
Profit sharing percentage		15.00%
Percentage of capital balance		15.00%
Percentage of cash distributions		40.00%
Predecessor \| LGI/GTIS Joint Venture \| Companies \| Minimum
Schedule of Equity Method Investments [Line Items]
Percentage of cash and profit distribution	20.00%	20.00%
Predecessor \| LGI/GTIS Joint Venture \| Companies \| Maximum
Schedule of Equity Method Investments [Line Items]
Percentage of cash and profit distribution	40.00%	40.00%
Priority distributions from Unconsolidated Joint Ventures		$ 2,700,000

Other Assets - Schedule of Other Assets (Detail) - USD ($)	Dec. 31, 2013	Dec. 31, 2012
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Receivable from municipality	$ 0	$ 1,250,000
Prepaid insurance	1,205,018	286,356
Prepaid expenses	291,243	34,382
Security deposits	468,370	299,132
Other assets	0	14,230
Total other assets	$ 1,964,631	$ 1,884,100

Accrued Expenses and Other Liabilities - Accrued Expenses and Other Liabilities (Detail) - USD ($)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Payables and Accruals [Abstract]
Accrued liabilities	$ 3,531,448	$ 948,807
Accrued bonuses	1,055,057	583,242
Warranty reserve	630,000	450,000	$ 275,000
Income taxes payable	1,553,683	119,473
Customer deposits	330,030	75,423
Total accrued expenses and other liabilities	$ 7,100,218	$ 2,176,945

Accrued Expenses and Other Liabilities - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2013
Structural Elements
Schedule Of Product Warranty Liability [Line Items]
Limited warranty periods	10 years
Mechanical Systems
Schedule Of Product Warranty Liability [Line Items]
Limited warranty periods	2 years
Other Construction Components
Schedule Of Product Warranty Liability [Line Items]
Limited warranty periods	1 year

Accrued Expenses and Other Liabilities - Changes in Companies' Warranty Accrual (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Warranty reserves, beginning of year	$ 450,000	$ 275,000
Warranty provision	763,734	409,057
Warranty reserve acquired in GTIS Acquisitions	30,000	0
Warranty expenditures	(613,734)	(234,057)
Warranty reserves, end of year	$ 630,000	$ 450,000

Notes Payable - Schedule of Notes Payable (Detail) - USD ($)

Dec. 31, 2013

Dec. 31, 2012

^[1]

LGI Homes Group, LLC | Texas Capital Bank, N.A.

$ 35,535,260

$ 14,968,762

LGI Homes-Sunrise Meadow, Ltd. and LGI Holdings, LLC | Texas Capital Bank, N.A.

34,078,260

12,270,636

LGI Homes—Texas LLC | Regions Bank

1,457,000

835,363

1,225,121

LGI Homes Corporate, LLC

LGI Homes-Sunrise Meadow, Ltd.

425,120

$ 0

$ 212,522

[1]	As of December 31, 2012, the Company's construction and development activities were financed through credit facilities generally providing for secured notes for the construction of individual homes and/or completed lots, with maturities ranging from 9 – 12 months from the borrowing date.

Notes Payable - Schedule of Notes Payable (Parenthetical) (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Line of credit facility, expiring date	Apr. 30, 2012
Line of credit facility, LIBOR plus	0.24%	0.31%
Minimum
Debt Instrument [Line Items]
Line of credit facility maturities period	9 months
Maximum
Debt Instrument [Line Items]
Line of credit facility maturities period	12 months
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, Carrying value	$ 37,000,000
LGI Homes Group, LLC \| Texas Capital Bank, N.A.
Debt Instrument [Line Items]
Line of credit facility	$ 35,000,000	$ 20,000,000
Line of credit facility, expiring date	Jun. 30, 2015
Line of credit facility, LIBOR plus	3.00%	3.00%
Line of credit facility, floor rate	4.00%	4.50%
Line of credit facility, Carrying value	$ 106,100,000
LGI Homes-Sunrise Meadow, Ltd. and LGI Holdings, LLC \| Texas Capital Bank, N.A.
Debt Instrument [Line Items]
Line of credit facility	$ 2,000,000	$ 5,000,000
Line of credit facility, expiring date	Dec. 31, 2013
Line of credit facility, LIBOR plus	3.90%	3.90%
Line of credit facility, floor rate	4.00%	4.50%
Line of credit facility, Carrying value	$ 5,100,000
LGI Homes—Texas LLC \| Regions Bank \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility	$ 3,000,000
Line of credit facility, expiring date	Mar. 29, 2014
Line of credit facility, LIBOR plus	4.00%
Line of credit facility, floor rate		5.00%
LGI Homes Corporate, LLC
Debt Instrument [Line Items]
Notes payable interest rate percentage, minimum	0.00%
Notes payable interest rate percentage, maximum	4.30%
LGI Homes Corporate, LLC \| Minimum
Debt Instrument [Line Items]
Line of credit facility, expiring date	2014-07
LGI Homes Corporate, LLC \| Maximum
Debt Instrument [Line Items]
Line of credit facility, expiring date	2016-12

Notes Payable - Schedule of Interest Activity for Notes Payable (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Debt Disclosure [Abstract]
Interest incurred	$ 1,377,922	$ 823,925	$ 1,254,294
Less: Amounts capitalized	(1,326,976)	(822,691)	(1,226,142)
Interest expense	50,946	1,234	28,152
Cash paid for interest	$ 1,220,334	$ 790,058	$ 1,274,708

Notes Payable - Additional Information (Detail)	1 Months Ended	12 Months Ended
Notes Payable - Additional Information (Detail)	Sep. 30, 2013 USD ($)	Dec. 31, 2013 USD ($) credit_facility	Dec. 31, 2012 USD ($) Lot	Dec. 31, 2011 USD ($)
Debt Instrument [Line Items]
Number of secured revolving credit facilities \| credit_facility		2
Debt outstanding maturing in 2014		$ 35,500,000
Long-term Debt, Period Collateral May Remain in Borrowing Base		1 year
Line of credit facility, LIBOR plus		0.24%	0.31%
Unsold lots \| Lot			264
Total community lots \| Lot			974
Line of credit facility, maturity date		Apr. 30, 2012
Settlement of participation fee obligation	$ 200,000
Gain on settlement of participation fee obligation	$ 8,614	$ 8,614	$ 0	$ 0
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, Carrying value		37,000,000
LGI Homes-Sunrise Meadow, Ltd.
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 37,000,000
Period vacant lots and homes remain in borrowing base		1 year

Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($)	2 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Current:
Federal		$ 841,254	$ 0	$ 0
State		512,599	154,542	124,891
Current tax provision		1,353,853	154,542	124,891
Deferred:
Federal		(264,499)	0	0
State		(23,282)	0	0
Deferred tax benefit		(287,781)	0	0
Total income tax provision	$ 675,740	$ 1,066,072	$ 154,542	$ 124,891

Income Taxes - Effective Income Tax Reconciliation (Details) - USD ($)	2 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Tax at federal statutory rate	$ 2,725,053	$ 7,981,164
State income taxes (net of federal benefit)	48,362	438,694
Non-deductible expenses and other	517	517
Non-taxable - gain on remeasurement	(2,256,087)	(2,256,087)
Domestic production activity deduction	(87,618)	(87,618)
Change in tax status of entity - deferred taxes	245,513	245,513
Income attributable to partnerships - nontaxable	0	(5,256,111)
Total income tax provision	$ 675,740	$ 1,066,072	$ 154,542	$ 124,891
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Tax at federal statutory rate	35.00%	35.00%
State income taxes (net of federal benefit)	0.60%	1.90%
Non-deductible expenses and other	0.10%	0.10%
Non-taxable - gain on remeasurement	(29.00%)	(9.90%)
Domestic production activity deduction	(1.10%)	(0.40%)
Change in tax status of entity - deferred taxes	3.20%	1.10%
Income attributable to partnerships - nontaxable	0.00%	(23.10%)
Tax at effective rate	8.80%	4.70%

Income Taxes - Narrative (Details) - USD ($)	1 Months Ended	2 Months Ended	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Nov. 30, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Nov. 13, 2013
Business Acquisition [Line Items]
Income taxes paid			$ 115,872	$ 163,171	$ 130,540
Adjustment of deferred tax (asset) liability		$ 245,513
Payments of distributions to owners	$ 5,800,000		$ 9,111,206	$ 4,134,884	$ 5,770,000
Tax at federal statutory rate		35.00%	35.00%
LGI GTIS Joint Venture Partners' Interests
Business Acquisition [Line Items]
Goodwill not tax deductible						$ 4,800,000

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2013	Dec. 31, 2012
Deferred tax assets:
Compensation related to RSU's	$ 395,119
Accruals and reserves	469,902
Total deferred tax assets	865,021
Deferred tax liabilities:
Inventory	(258,414)
Tax depreciation in excess of book depreciation	(223,316)
Goodwill and other assets amortized for tax	(95,510)
Total deferred tax liability	(577,240)
Total net deferred tax asset (liability)	$ 287,781	$ 0

Equity - Additional Information (Detail) - USD ($)	Jul. 09, 2013	Dec. 31, 2013	Mar. 31, 2013	Feb. 28, 2013	Jun. 30, 2011	Mar. 31, 2011	May 31, 2005	Feb. 28, 2005	Dec. 31, 2002
Class of Stock [Line Items]
Common stock shares authorized (in dollars per share)		250,000,000
Common stock, par value (in dollars per share)		$ 0.01
Preferred stock shares authorized (in shares)		5,000,000
Preferred stock, par value (in dollars per share)		$ 0.01
Common stock shares issued (in shares)		20,763,449
Common stock shares outstanding (in shares)		20,763,449
Common Stock
Class of Stock [Line Items]
Common stock, par value (in dollars per share)		$ 0.01
Issuance of shares (in shares)	1,000
Common stock issued price	$ 1,000
Predecessor \| E D S S Holdings L P [Member]
Class of Stock [Line Items]
Limited Partner Ownership Interest						50.125%
Predecessor \| L G I Investment Fund I I L P [Member]
Class of Stock [Line Items]
Limited Partner Ownership Interest					49.875%
Predecessor \| L G I Fund I I G P [Member]
Class of Stock [Line Items]
General Partners Ownership Interest					1.00%
Predecessor \| L G I Investment I I I L P [Member]
Class of Stock [Line Items]
Limited Partner Ownership Interest				85.00%
Percent of Investment Limited Partner Exchanged its Ownership Interest			150.00%
Predecessor \| L G I Homes Ltd [Member]
Class of Stock [Line Items]
Limited Partner Ownership Interest									99.00%
General Partners Ownership Interest									1.00%
Predecessor \| L G I Homes Sunrise Meadow Ltd [Member]
Class of Stock [Line Items]
General Partners Ownership Interest								1.00%
Predecessor \| L G I Homes Canyon Crossing Ltd [Member]
Class of Stock [Line Items]
General Partners Ownership Interest							1.00%

Equity - Schedule of Earnings Per Share (Details) - USD ($)	2 Months Ended	3 Months Ended								10 Months Ended	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Nov. 13, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Equity [Abstract]
Net income	$ 7,110,126	$ 9,124,000	$ 5,150,000	$ 5,013,000	$ 2,450,000	$ 2,332,000	$ 3,750,000	$ 2,384,000	$ 1,402,000	$ 14,627,129	$ 21,737,255	$ 9,868,098	$ 4,512,405
Basic weighted average shares outstanding	20,763,449
Add: Dilutive effect of restricted stock units	70,675
Diluted weighted average shares outstanding	20,834,124
Basic earnings per share (in dollars per share)	$ 0.34
Diluted earnings per share (in dollars per share)	$ 0.34

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

Equity - Predecessor's Owners' Equity (Details) - USD ($)	3 Months Ended								10 Months Ended	12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Nov. 13, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance				$ 25,210,977					$ 25,210,977	$ 25,210,977
Net income	$ 9,131,000	$ 5,588,000	$ 5,158,000	2,450,000	$ 2,332,000	$ 3,655,000	$ 2,384,000	$ 1,334,000		22,327,073	$ 9,705,129	$ 3,350,419
Contributions										18,332,250	6,650,000	4,764,175
Distributions										(9,111,206)	(5,942,146)	(6,407,500)
Ending balance					25,210,977						25,210,977
Predecessor \| LGI Homes Group, LLC Members’ Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance				17,154,720				4,112,626	17,154,720	17,154,720	4,112,626	0
Net income									11,892,452		6,445,381	152,626
Contributions											6,650,000	3,960,000
Distributions									(6,969,567)		(53,287)	0
Ending balance					17,154,720				22,077,605		17,154,720	4,112,626
Predecessor \| LGI Homes Corporate, LLC Members’ Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance				3,431,370				3,175,108	3,431,370	3,431,370	3,175,108	2,296,924
Net income									1,883,297		2,258,226	878,184
Contributions									2,500,000		0	0
Distributions									(1,468,800)		(2,001,964)	0
Ending balance					3,431,370				6,345,867		3,431,370	3,175,108
Predecessor \| LGI Homes- Deer Creek, LLC Members’ Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance				0				957,467	0	0	957,467	42,716
Net income									0		802,166	764,751
Contributions									0		0	400,000
Distributions									0		(1,759,633)	(250,000)
Ending balance					0				0		0	957,467
Predecessor \| Other Partnerships’ Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance				4,624,887				4,745,531	4,624,887	4,624,887	4,745,531	8,710,673
Net income									1,441,198		199,356	1,554,858
Contributions									35,000		0	0
Distributions									(672,839)		(320,000)	(5,520,000)
Ending balance					4,624,887				5,428,246		4,624,887	4,745,531
Predecessor \| Total Owners’ Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance				$ 25,210,977				$ 12,990,732	25,210,977	$ 25,210,977	12,990,732	11,050,313
Net income									15,216,947		9,705,129	3,350,419
Contributions									2,535,000		6,650,000	4,360,000
Distributions									(9,111,206)		(4,134,884)	(5,770,000)
Ending balance					$ 25,210,977				$ 33,851,718		$ 25,210,977	$ 12,990,732

Stock-Based Compensation (Details) - USD ($)		1 Months Ended	2 Months Ended	12 Months Ended
Stock-Based Compensation (Details) - USD ($)	Nov. 06, 2013	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price	$ 11.00
Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted		24,089
Grants in period, fair value				$ 1,542,442
Compensation expense				42,814
Compensation not yet recognized			$ 473,163	$ 473,163
Compensation not yet recognized, period for recognition				1 year 8 months 12 days
Restricted stock units (RSUs) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, vesting period		1 year
Restricted stock units (RSUs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, vesting period		3 years
2013 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for issuance			1,500,000	1,500,000
2013 Incentive Plan \| Restricted stock units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted	140,222
Awards forfeited			0
2013 Incentive Plan \| Restricted stock units (RSUs) \| Management Deferred Bonus
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted	93,315
Compensation expense	$ 1,000,000
2013 Incentive Plan \| Restricted stock units (RSUs) \| Non Deferred Bonus
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted	46,907
2013 Incentive Plan \| Restricted stock units (RSUs) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, vesting period				1 year
2013 Incentive Plan \| Restricted stock units (RSUs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units, vesting period				3 years

Related Party Transactions - Schedule of Receivables Due from and Payables Due to Related Parties (Detail) - USD ($)	Dec. 31, 2013	Dec. 31, 2012
Receivables:
Accounts receivable, related parties	$ 28,236	$ 1,026,925
Payables:
Accounts payable, related parties	0	108,577
LGI/GTIS Joint Venture
Receivables:
Accounts receivable, related parties	0	985,719
Payables:
Accounts payable, related parties	0	108,577
Other affiliates and owners
Receivables:
Accounts receivable, related parties	$ 28,236	$ 41,206

Quarterly Financial Information Disclosure [Abstract]

For an unclassified balance sheet, amount of receivables arising from transactions with related parties.

+ References + Details

Related Party Transactions - Additional Information (Detail) - USD ($)		12 Months Ended
	Nov. 13, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Related Party Transaction [Line Items]
Minimum number of days for eligibility of employees in participation of Profit Sharing Plan		90 days
Employees eligibility age for participating in Profit Sharing Plan		21 years
Maximum salary deferrals allowed on eligible employee's salary		100.00%
Percentage of first eligible employee's deferral contribution under Profit Sharing Plan		3.00%
Maximum amount of salary deferral for Profit Sharing Plan		$ 3,000
Companies matching contributions		100,000	$ 100,000	$ 100,000
Consulting agreement period	3 years
Consulting agreement, amount payable per year	$ 100,000
Predecessor
Related Party Transaction [Line Items]
Management fees earned		2,600,000	2,300,000	1,100,000
Warranty fee collected upon closing sale of each home		250
Warranty fees earned under management services agreement		$ 100,000	$ 100,000	$ 100,000
Predecessor \| Percent of homes sales
Related Party Transaction [Line Items]
Percentage of management fee		3.00%
Predecessor \| Percent of construction costs
Related Party Transaction [Line Items]
Percentage of management fee		3.00%
Consulting fees
Related Party Transaction [Line Items]
Expenses from transactions with related party		$ 17,000

Commitments and Contingencies - Summary of Land Purchase Deposits and Option Contracts Included in Pre-Acquisition Cost and Deposits (Detail)	Dec. 31, 2013 USD ($) lot	Dec. 31, 2012 USD ($) lot
Commitments and Contingencies Disclosure [Abstract]
Land deposits and option payments	$ 2,977,050	$ 963,500
Commitments under the land purchase option and deposit agreements if the purchases are consummated	$ 111,114,993	$ 33,057,761
Lots under land options and land purchase contracts \| lot	8,214	2,242

Commitment and Contingencies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Schedule Of Leasing Arrangements [Line Items]
Outstanding performance and surety bonds	$ 353,388	$ 183,103	$ 366,205
Lease Agreements
Schedule Of Leasing Arrangements [Line Items]
Rent expense	$ 326,962	$ 240,804	$ 230,618

Commitments and Contingencies - Future Minimum Rental Payments for Operating Leases (Details) $ in Thousands	Dec. 31, 2013 USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2014	$ 381
2015	407
2016	431
2017	460
2018	298
Thereafter	7
Total	$ 1,984

Segment Information - Additional Information (Detail)	12 Months Ended
Segment Information - Additional Information (Detail)	Dec. 31, 2013 USD ($) Segment business
Segment Reporting Information [Line Items]
Number of homebuilding businesses \| business	1
Number of operating segments	4
Number of reporting segments	1
Operating Segments \| Central
Segment Reporting Information [Line Items]
Percentage of operations	80.00%
Intersegment Eliminations
Segment Reporting Information [Line Items]
Inter-segment sales \| $	$ 0

Selected Quarterly Financial Data (Unaudited) (Details) - USD ($)

2 Months Ended

3 Months Ended

10 Months Ended

12 Months Ended

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Nov. 13, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Total home sales revenues

$ 65,034,000

$ 37,035,000

$ 36,519,000

$ 21,479,000

$ 23,109,000

$ 22,851,000

$ 15,527,000

$ 12,333,000

$ 160,067,139

$ 73,820,028

$ 49,269,971

Gross margin

12,934,000

9,952,000

10,194,000

5,662,000

5,549,000

6,152,000

4,327,000

3,261,000

Income before income taxes

9,917,000

5,287,000

5,102,000

2,497,000

2,390,000

3,782,000

2,417,000

1,433,000

22,803,327

10,022,640

4,637,296

Net income

$ 7,110,126

9,124,000

5,150,000

5,013,000

2,450,000

2,332,000

3,750,000

2,384,000

1,402,000

$ 14,627,129

21,737,255

9,868,098

4,512,405

Net income attributable to owners

$ 9,131,000

$ 5,588,000

$ 5,158,000

$ 2,450,000

$ 2,332,000

$ 3,655,000

$ 2,384,000

$ 1,334,000

$ 22,327,073

$ 9,705,129

$ 3,350,419

Basic and diluted earnings per share (in dollars per share)

^[1]

$ 0.34

$ 0.00

[1]	Earnings per share is presented for the period from November 13, 2013 (date of closing of IPO) to December 13, 2013. See Note 11 - Equity for calculation of earnings per share.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e565-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9