Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents	$ 50,203	$ 52,771
Restricted cash	504	504
Receivables	14,838	21,250
Escrow proceeds receivable	3,041	2,915
Real Estate Inventories	1,675,106	1,404,639
Investment in unconsolidated joint ventures	5,413	2,500
Goodwill	66,902	60,887
Intangibles, net of accumulated amortization of $4,640 and $3,683 and as of December 31, 2015 and 2014, respectively	6,700	7,657
Deferred income taxes, net valuation allowance of $0 and $1,626 at December 31, 2015 and 2014 respectively	79,726	88,039
Other assets, net	21,017	18,562
Total assets	1,923,450	1,659,724
LIABILITIES AND EQUITY
Accounts payable	75,881	51,814
Accrued expenses	70,324	85,366
Notes payable	175,181	39,235
Long-term debt, gross	1,105,776	925,398
Total liabilities	$ 1,251,981	$ 1,062,578
Commitments and contingencies
William Lyon Homes stockholders’ equity
Preferred stock, par value $0.01 per share; 10,000,000 authorized and no shares issued and outstanding at December 31, 2015 and 2014, respectively	$ 0	$ 0
Additional paid-in capital	413,810	408,969
Retained earnings	217,963	160,627
Total William Lyon Homes stockholders’ equity	632,095	569,915
Noncontrolling interests	39,374	27,231
Total equity	671,469	597,146
Total liabilities and equity	1,923,450	1,659,724
Common stock, Class A, par value $0.01 per share; 150,000,000 shares authorized; 28,363,879 and 28,073,438 shares issued, 27,657,435 and 27,487,257 shares outstanding at December 31, 2015 and 2014, respectively
William Lyon Homes stockholders’ equity
Common stock	284	281
Common stock, Class B, par value $0.01 per share; 30,000,000 shares authorized; 3,813,884 shares issued and outstanding at December 31, 2015 and 2014, respectively
William Lyon Homes stockholders’ equity
Common stock	38	38
Subordinated Amortizing Note Due 2017
LIABILITIES AND EQUITY
Long-term debt, gross	14,066	20,717
5 3/4% Senior Notes due 2019
LIABILITIES AND EQUITY
Long-term debt, gross	148,295	147,766
8 1/2% Senior Notes due 2020
LIABILITIES AND EQUITY
Long-term debt, gross	422,896	422,889
7% Senior Notes due 2022
LIABILITIES AND EQUITY
Long-term debt, gross	$ 345,338	$ 294,791

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business.

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- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities.