Investment in Unconsolidated Entities (Tables)

9 Months Ended

Sep. 30, 2022

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

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

	September 30, 2022		December 31, 2021
GB Challenger, LLC	$	46,392	$	37,737
GBTM Sendera, LLC	13,451		9,854
EJB River Holdings, LLC	7,717		6,130
BHome Mortgage, LLC	875		1,180
Green Brick Mortgage, LLC	815		715
Total investment in unconsolidated entities	$	69,250	$	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):

	September 30, 2022		December 31, 2021
Assets:
Cash	$	15,891	$	15,903
Accounts receivable	3,754		4,787
Bonds and notes receivable	5,772		5,772
Loans held for sale, at fair value	20,145		20,734
Inventory	198,968		166,861
Other assets	11,140		7,220
Total assets	$	255,670	$	221,277
Liabilities:
Accounts payable	$	11,341	$	7,701
Accrued expenses and other liabilities	15,818		13,992
Notes payable	99,295		95,816
Total liabilities	126,454		117,509
Owners’ equity:
Green Brick	65,540		52,983
Others	63,676		50,785
Total owners’ equity	129,216		103,768
Total liabilities and owners’ equity	$	255,670	$	221,277

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Revenues	$	65,620	$	64,131	$	221,650	$	155,589
Costs and expenses	54,140		52,917		181,612		127,276
Net earnings of unconsolidated entities	$	11,480	$	11,214	$	40,038	$	28,313
Company’s share in net earnings of unconsolidated entities	$	5,697	$	5,555	$	19,907	$	14,039

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
GB Challenger, LLC	$	5,196	$	4,377	$	16,282	$	10,352
EJB River Holdings, LLC	203		361		1,587		833
BHome Mortgage, LLC	145		435		1,055		839
Green Brick Mortgage, LLC	153		382		983		2,015
Total net earnings from unconsolidated entities	$	5,697	$	5,555	$	19,907	$	14,039

Investment in Unconsolidated Entities

3. INVESTMENT IN UNCONSOLIDATED ENTITIES

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

	September 30, 2022		December 31, 2021
GB Challenger, LLC	$	46,392	$	37,737
GBTM Sendera, LLC	13,451		9,854
EJB River Holdings, LLC	7,717		6,130
BHome Mortgage, LLC	875		1,180
Green Brick Mortgage, LLC	815		715
Total investment in unconsolidated entities	$	69,250	$	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):

	September 30, 2022		December 31, 2021
Assets:
Cash	$	15,891	$	15,903
Accounts receivable	3,754		4,787
Bonds and notes receivable	5,772		5,772
Loans held for sale, at fair value	20,145		20,734
Inventory	198,968		166,861
Other assets	11,140		7,220
Total assets	$	255,670	$	221,277
Liabilities:
Accounts payable	$	11,341	$	7,701
Accrued expenses and other liabilities	15,818		13,992
Notes payable	99,295		95,816
Total liabilities	126,454		117,509
Owners’ equity:
Green Brick	65,540		52,983
Others	63,676		50,785
Total owners’ equity	129,216		103,768
Total liabilities and owners’ equity	$	255,670	$	221,277

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Revenues	$	65,620	$	64,131	$	221,650	$	155,589
Costs and expenses	54,140		52,917		181,612		127,276
Net earnings of unconsolidated entities	$	11,480	$	11,214	$	40,038	$	28,313
Company’s share in net earnings of unconsolidated entities	$	5,697	$	5,555	$	19,907	$	14,039

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
GB Challenger, LLC	$	5,196	$	4,377	$	16,282	$	10,352
EJB River Holdings, LLC	203		361		1,587		833
BHome Mortgage, LLC	145		435		1,055		839
Green Brick Mortgage, LLC	153		382		983		2,015
Total net earnings from unconsolidated entities	$	5,697	$	5,555	$	19,907	$	14,039