XML 32 R12.htm IDEA: XBRL DOCUMENT
v3.25.0.1

OTHER NOTES RECEIVABLE | 12 Months Ended
--- | ---
Dec. 31, 2024
OTHER NOTES RECEIVABLE |
OTHER NOTES RECEIVABLE | 6. Other Notes Receivable Other notes receivable relate to notes issued to mobile home park owners and dealers and are not directly tied to the sale of mobile homes. Note 5, Notes Receivable from Mobile Home Parks, in these Notes to Financial Statements for the year ended December 31, 2024 provides details regarding a settlement agreement related to prior debt. Prior to the three months ending September 30, 2024, the Company recorded the old Notes described in Note 5 in MHP notes and other notes. The New Note is recorded in MHP notes only. Other notes receivable, net of allowance for loan losses and deferred financing fees, consisted of the following at December 31, 2024, 2023 and 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of December 31, | ​ | As of December 31, |  | As of December 31,
​ | ​ | 2024 | ​ | 2023 | ​ | 2022
Outstanding principal balance | ​ | $ | 15,412 | ​ | $ | 35,353 | ​ | $ | 23,017
Loan discount and deferred financing fees | ​ | ​ | (132) | ​ | ​ | (527) | ​ | ​ | (295)
Allowance for loan losses | ​ |  | (364) | ​ |  | (236) | ​ |  | —
Total | ​ | $ | 14,916 | ​ | $ | 34,590 | ​ | $ | 22,722
​ ​ ​ The following table presents a detail of the activity in the allowance for loan losses for the years ended December 31, 2024 and 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended
​ | ​ | December 31,
​ | ​ | 2024 | ​ | 2023
Allowance for loan losses, beginning of period | ​ | $ | 236 | ​ | $ | —
Provision for loan losses | ​ | ​ | 128 | ​ | ​ | 236
(Charge offs) recoveries | ​ |  | — | ​ |  | —
Allowance for loan losses, end of period | ​ | $ | 364 | ​ | $ | 236
​ ​ ​ The following table presents impaired and general reserve for allowance for loan losses at December 31, 2024 and 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, | ​ | As of December 31,
​ | ​ | 2024 | ​ | 2023
Total Other notes receivable | ​ | $ | 15,412 | ​ | $ | 35,353
Allowance for loan losses | ​ | ​ | 364 | ​ | ​ | 236
Impaired loans individually evaluated for impairment | ​ | ​ | 2,038 | ​ | ​ | 25,135
Specific reserve against impaired loans | ​ | ​ | 141 | ​ | ​ | 84
Other notes receivable collectively evaluated for allowance | ​ |  | 13,374 | ​ |  | 10,218
General allowance for loan losses | ​ | ​ | 223 | ​ | ​ | 152
​ We evaluate the credit quality of our Other notes receivable portfolio based on the aging status of the loan and by payment activity. Loan delinquency reporting is generally based upon borrower payment activity, relative to the contractual terms of the loan. The following table disaggregates the outstanding principal balance of Other notes receivable by credit quality indicator based on delinquency status and fiscal year of origination and is presented as of December 31, 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year of Origination
​ | ​ | 2024 | ​ | 2023 | ​ | 2022 | ​ | 2021 | ​ | 2020 | ​ | Prior | ​ | Total | ​ | % of Portfolio
< 30 days past due | ​ | $ | 12,049 | ​ | $ | 1,980 | ​ | $ | — | ​ | $ | — | ​ | $ | 300 | ​ | $ | 35 | ​ | $ | 14,364 | ​ | % | 93.2
30-90 days past due | ​ | ​ | — | ​ | ​ | 284 | ​ | ​ | 541 | ​ | ​ | 163 | ​ | ​ | — | ​ | ​ | 60 | ​ | ​ | 1,048 | ​ | ​ | 6.8
> 90 days past due | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 12,049 | ​ | $ | 2,264 | ​ | $ | 541 | ​ | $ | 163 | ​ | $ | 300 | ​ | $ | 95 | ​ | $ | 15,412 | ​ | % | 100.0
​

X
- Definition No definition available + References No definition available. + Details
Name: | legh_OtherNotesReceivableAbstract
Namespace Prefix: | legh_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of other notes receivable. + References No definition available. + Details
Name: | legh_OtherNotesReceivableTextBlock
Namespace Prefix: | legh_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration