Investments in and advances to unconsolidated joint ventures (Tables)

3 Months Ended

Mar. 31, 2019

The condensed combined statements of operations for our unconsolidated joint ventures accounted for under the equity method were as follows:



	Three Months Ended March 31,
	2019		2018
	(Dollars in thousands)
Revenues	$	42,287	$	32,013
Cost of sales and expenses	41,774		31,209
Net income of unconsolidated joint ventures	$	513	$	804
Equity in net income of unconsolidated joint ventures reflected in the accompanying condensed consolidated statements of operations	$	184	$	335

The condensed combined balance sheets for our unconsolidated joint ventures accounted for under the equity method were as follows:



	March 31,			December 31,
	2019			2018
	(Dollars in thousands)
Cash and cash equivalents	$	32,186		$	45,945
Restricted cash	14,616			19,205
Real estate inventories	362,609			374,607
Other assets	5,329			4,231
Total assets	$	414,740		$	443,988

Accounts payable and accrued liabilities	$	37,794		$	43,158
Notes payable	61,271			71,299
Total liabilities	99,065			114,457
The New Home Company's equity	32,362			33,617
Other partners' equity	283,313			295,914
Total equity	315,675			329,531
Total liabilities and equity	$	414,740		$	443,988
Debt-to-capitalization ratio	16.3		%	17.8		%
Debt-to-equity ratio	19.4		%	21.6		%