Equity Method Investments |
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 | |
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