Investment in Unconsolidated Entities

3 Months Ended

Mar. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

Investment in Unconsolidated Entities

INVESTMENT IN UNCONSOLIDATED ENTITIESA summary of the Company’s investments in unconsolidated entities is as follows (in thousands):

	March 31, 2022		December 31, 2021
GB Challenger, LLC	$	39,532	$	37,737
GBTM Sendera, LLC	9,854		9,854
EJB River Holdings, LLC	6,868		6,130
BHome Mortgage, LLC	1,041		1,180
Green Brick Mortgage, LLC	832		715
Total investment in unconsolidated entities	$	58,127	$	55,616

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

	March 31, 2022		December 31, 2021
Assets:
Cash	$	20,218	$	15,903
Accounts receivable	4,609		4,787
Bonds and notes receivable	5,762		5,772
Loans held for sale, at fair value	18,277		20,734
Inventory	167,999		166,861
Other assets	12,375		7,220
Total assets	$	229,240	$	221,277
Liabilities:
Accounts payable	$	12,547	$	7,701
Accrued expenses and other liabilities	15,051		13,992
Notes payable	92,617		95,816
Total liabilities	$	120,215	$	117,509
Owners’ equity:
Green Brick	$	55,508	$	52,983
Others	53,517		50,785
Total owners’ equity	$	109,025	$	103,768
Total liabilities and owners’ equity	$	229,240	$	221,277

	Three Months Ended March 31,
	2022		2021
Revenues	$	70,636	$	39,721
Costs and expenses	59,197		31,951
Net earnings of unconsolidated entities	$	11,439	$	7,770
Company’s share in net earnings of unconsolidated entities	$	5,687	$	3,891