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Investments in and Advances to Joint Ventures (Tables)
6 Months Ended
Jun. 30, 2022
Equity Method Investments And Joint Ventures [Abstract]  
Schedule of Financial Information of Consolidated Joint Ventures

The following represents financial information for consolidated joint ventures included in the consolidated financial statements (in thousands):

 

 

 

June 30, 2022

 

 

December 31, 2021

 

Current assets

 

$

232,052

 

 

$

246,342

 

Noncurrent assets

 

 

5,996

 

 

 

2,180

 

Total assets

 

 

238,048

 

 

 

248,522

 

Current liabilities

 

 

163,961

 

 

 

175,637

 

Total liabilities

 

 

163,961

 

 

 

175,637

 

Total joint venture equity

 

$

74,087

 

 

$

72,885

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2022

 

 

June 30, 2021

 

 

June 30, 2022

 

 

June 30, 2021

 

Revenue

 

$

108,089

 

 

$

98,245

 

 

$

203,623

 

 

$

194,869

 

Costs

 

 

98,761

 

 

 

87,097

 

 

 

187,603

 

 

 

173,403

 

Net income

 

$

9,328

 

 

$

11,148

 

 

$

16,020

 

 

$

21,466

 

Net income attributable to noncontrolling interests

 

$

4,485

 

 

$

5,325

 

 

$

7,661

 

 

$

10,300

 

Summary of Financial Information for Unconsolidated Joint Ventures

The following represents the financial information of the Company’s unconsolidated joint ventures as presented in their unaudited financial statements (in thousands):

 

 

 

June 30, 2022

 

 

December 31, 2021

 

Current assets

 

$

1,670,402

 

 

$

1,620,735

 

Noncurrent assets

 

 

523,440

 

 

 

531,261

 

Total assets

 

 

2,193,842

 

 

 

2,151,996

 

Current liabilities

 

 

1,283,227

 

 

 

1,088,985

 

Noncurrent liabilities

 

 

496,487

 

 

 

669,911

 

Total liabilities

 

 

1,779,714

 

 

 

1,758,896

 

Total joint venture equity

 

$

414,128

 

 

$

393,100

 

Investments in and advances to unconsolidated joint ventures

 

$

115,478

 

 

$

110,688

 

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2022

 

 

June 30, 2021

 

 

June 30, 2022

 

 

June 30, 2021

 

Revenue

 

$

594,959

 

 

$

736,284

 

 

$

979,540

 

 

$

972,801

 

Costs

 

 

564,239

 

 

 

696,198

 

 

 

937,525

 

 

 

907,045

 

Net income

 

$

30,720

 

 

$

40,086

 

 

$

42,015

 

 

$

65,756

 

Equity in earnings of unconsolidated joint ventures

 

$

5,613

 

 

$

9,428

 

 

$

11,211

 

 

$

16,958