Investment in Unconsolidated Entities

9 Months Ended

Sep. 30, 2021

Equity Method Investments and Joint Ventures [Abstract]

Investment in Unconsolidated Entities

INVESTMENT IN UNCONSOLIDATED ENTITIES

A summary of the Company’s investments in unconsolidated entities is as follows (in thousands):

	September 30, 2021		December 31, 2020
GB Challenger, LLC	$	35,196	$	29,488
GBTM Sendera, LLC	9,854		9,846
EJB River Holdings, LLC	6,130		5,296
Green Brick Mortgage, LLC	765		1,207
BHome Mortgage, LLC	790		606
Total investment in unconsolidated entities	$	52,735	$	46,443

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

	September 30, 2021		December 31, 2020
Assets:
Cash	$	14,852	$	12,765
Accounts receivable	3,239		1,815
Bonds and notes receivable	5,942		5,942
Loans held for sale, at fair value	38,398		14,530
Inventory	161,710		122,819
Other assets	7,661		8,377
Total assets	$	231,802	$	166,248
Liabilities:
Accounts payable	$	13,477	$	7,171
Accrued expenses and other liabilities	15,992		11,148
Notes payable	104,326		60,642
Total liabilities	$	133,795	$	78,961
Owners’ equity:
Green Brick	$	50,075	$	43,451
Others	47,932		43,836
Total owners’ equity	$	98,007	$	87,287
Total liabilities and owners’ equity	$	231,802	$	166,248

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Revenues	$	64,131	$	50,068	$	155,589	$	138,381
Costs and expenses	52,917		39,188		127,276		111,340
Net earnings of unconsolidated entities	$	11,214	$	10,880	$	28,313	$	27,041
Company’s share in net earnings of unconsolidated entities	$	5,555	$	5,299	$	14,039	$	13,038