Investment in Unconsolidated Entities

6 Months Ended

Jun. 30, 2022

Equity Method Investments and Joint Ventures [Abstract]

Investment in Unconsolidated Entities

3. INVESTMENT IN UNCONSOLIDATED ENTITIES

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

	June 30, 2022		December 31, 2021
GB Challenger, LLC	$	43,599	$	37,737
GBTM Sendera, LLC	10,981		9,854
EJB River Holdings, LLC	7,514		6,130
BHome Mortgage, LLC	966		1,180
Green Brick Mortgage, LLC	1,017		715
Total investment in unconsolidated entities	$	64,077	$	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):

	June 30, 2022		December 31, 2021
Assets:
Cash	$	24,964	$	15,903
Accounts receivable	4,475		4,787
Bonds and notes receivable	5,772		5,772
Loans held for sale, at fair value	30,884		20,734
Inventory	171,307		166,861
Other assets	18,198		7,220
Total assets	$	255,600	$	221,277
Liabilities:
Accounts payable	$	14,037	$	7,701
Accrued expenses and other liabilities	21,812		13,992
Notes payable	98,623		95,816
Total liabilities	134,472		117,509
Owners’ equity:
Green Brick	61,472		52,983
Others	59,656		50,785
Total owners’ equity	121,128		103,768
Total liabilities and owners’ equity	$	255,600	$	221,277

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Revenues	$	85,394	$	51,737	$	156,030	$	91,458
Costs and expenses	68,275		42,492		127,472		74,359
Net earnings of unconsolidated entities	$	17,119	$	9,245	$	28,558	$	17,099
Company’s share in net earnings of unconsolidated entities	$	8,523	$	4,593	$	14,210	$	8,484

A summary of the Company’s share in net earnings by unconsolidated entity is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
GB Challenger, LLC	$	7,019	$	3,225	$	11,086	$	5,975
EJB River Holdings, LLC	646		473		1,384		472
BHome Mortgage, LLC	356		333		910		404
Green Brick Mortgage, LLC	502		545		830		1,633
GBTM Sendera, LLC	—		17		—		—
Total net earnings from unconsolidated entities	$	8,523	$	4,593	$	14,210	$	8,484