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INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES
 6 Months Ended
Jun. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]  
INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES INVESTMENTS IN CONSOLIDATED AND UNCONSOLIDATED ENTITIES
Unconsolidated Entities
Summarized, unaudited condensed combined financial information of unconsolidated entities that are accounted for by the equity method are as follows (in thousands):
As of
June 30,
2024		December 31,
2023
Assets:
Real estate inventory$1,057,652 $952,223 
Other assets272,356 182,517 
Total assets$1,330,008 $1,134,740 
Liabilities and owners’ equity:
Debt$409,044 $317,224 
Other liabilities70,367 50,739 
Total liabilities$479,411 $367,963 
Owners’ equity:
TMHC$381,571 $346,192 
Others469,026 420,585 
Total owners’ equity$850,597 $766,777 
Total liabilities and owners’ equity$1,330,008 $1,134,740 
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Revenues$89,384 $32,100 $163,152 $51,637 
Costs and expenses(82,713)(24,067)(149,356)(38,766)
Net income from unconsolidated entities$6,671 $8,033 $13,796 $12,871 
TMHC’s share in net income of unconsolidated entities$2,628 $3,186 $5,379 $5,115 
Distributions to TMHC from unconsolidated entities$12,130 $4,687 $15,027 $5,884 
Consolidated Entities
As of June 30, 2024, assets of the consolidated joint ventures totaled $261.7 million, of which $33.1 million was cash and cash equivalents, $67.4 million was owned real estate inventory, and $120.0 million was property and equipment, net (primarily related to Urban Form). The majority of the property and equipment, net balance is held for investment as of June 30, 2024. As of December 31, 2023, the assets of the consolidated joint ventures totaled $265.2 million, of which $29.8 million was cash and cash equivalents, $70.2 million was owned real estate inventory, and $121.3 million was property and equipment, net. The liabilities of the consolidated joint ventures totaled $83.5 million and $133.8 million as of June 30, 2024
and December 31, 2023, respectively, and were primarily comprised of loans payable and other borrowings, accounts payable and accrued expenses and other liabilities.