Investment in Unconsolidated Entities

6 Months Ended

Jun. 30, 2018

Equity Method Investments and Joint Ventures [Abstract]

INVESTMENT IN UNCONSOLIDATED ENTITIES

We participate in joint ventures with unrelated third parties as discussed in Note 1. These entities are involved in homebuilding, land development, mortgage lending, and title services. We use the equity method of accounting for our investments in unconsolidated entities which are not VIEs and which we do not control, but have ownership interests up to 49.9%.

A summary of the condensed financial information of the unconsolidated entities that are accounted for by the equity method is as follows (in thousands):



Balance Sheets	June 30, 2018		December 31, 2017
Assets:
Cash	$	11,507	$	3,981
Accounts receivable	73		1,494
Inventory	57,967		57,841
Goodwill	4,615		4,615
Noncompete intangible asset	173		202
Other assets	5,503		5,098
Total assets	$	79,838	$	73,231
Liabilities:
Accounts payable	$	3,428	$	5,060
Accrued expenses and other liabilities	4,899		2,857
Notes payable	37,971		36,923
Total liabilities	$	46,298	$	44,840
Owners' equity:
Green Brick	$	19,148	$	16,592
Others	14,392		11,799
Total owners' equity	$	33,540	$	28,391
Total liabilities and owners' equity	$	79,838	$	73,231



Statements of Income	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Revenues	$	43,953	$	—	$	76,952	$	—
Costs and expenses	39,099		—		69,020		—
Net earnings of unconsolidated entities	$	4,854	$	—	$	7,932	$	—
Company's share in net earnings of unconsolidated entities	$	2,279	$	—	$	3,815	$	—