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Investment in Unconsolidated Ventures (Tables)
6 Months Ended
Jun. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]  
Summarized Balance Sheet Information
Combined summarized balance sheet information for our ventures accounted for using the equity method follows:
 
Venture Assets
 
Venture Borrowings(a)
 
Venture Equity
 
Our Investment
 
Second
Quarter-End
 
Year-End
 
Second
Quarter-End
 
Year-End
 
Second
Quarter-End
 
Year-End
 
Second
Quarter-End
 
Year-End
 
2014
 
2013
 
2014
 
2013
 
2014
 
2013
 
2014
 
2013
 
(In thousands)
242, LLC (b)
$
23,139

 
$
23,751

 
$
910

 
$
921

 
$
19,318

 
$
19,838

 
$
8,835

 
$
9,084

CJUF III, RH Holdings
40,148

 
36,320

 
23,022

 
18,492

 
14,764

 
15,415

 
2,584

 
3,235

CL Ashton Woods (c)
10,940

 
10,473

 

 

 
10,001

 
9,704

 
3,997

 
3,544

CL Realty
8,348

 
8,298

 

 

 
8,220

 
8,070

 
4,110

 
4,035

CREA FMF Nashville (b)
22,289

 

 
14,227

 

 
6,125

 

 
5,655

 

FMF Peakview
36,406

 
30,673

 
16,544

 
12,533

 
16,915

 
16,620

 
3,465

 
3,406

HM Stonewall Estates (c)
3,489

 
3,781

 

 
63

 
3,489

 
3,718

 
1,963

 
2,128

LM Land Holdings (c)
33,362

 
33,298

 
10,533

 
9,768

 
18,051

 
13,347

 
9,430

 
8,283

PSW Communities
10,100

 

 
5,064

 

 
4,281

 

 
3,805

 

Temco
13,313

 
13,320

 

 

 
13,074

 
13,160

 
6,537

 
6,580

Other ventures (3) (d)
12,535

 
12,723

 
29,756

 
29,699

 
(31,634
)
 
(31,357
)
 
423

 
852

 
$
214,069

 
$
172,637

 
$
100,056

 
$
71,476

 
$
82,604

 
$
68,515

 
$
50,804

 
$
41,147

Summarized Income Statement Information
Combined summarized income statement information for our ventures accounted for using the equity method follows:
 
 Venture Revenues
 
 Venture Earnings (Loss)
 
Our Share of Earnings (Loss)
 
Second Quarter
 
First Six Months
 
Second Quarter
 
First Six Months
 
Second Quarter
 
First Six Months
 
2014
 
2013
 
2014
 
2013
 
2014
 
2013
 
2014
 
2013
 
2014
 
2013
 
2014
 
2013
 
(In thousands)
242, LLC
$

 
$
1,497

 
$
1,475

 
$
3,131

 
$
(53
)
 
$
354

 
$
480

 
$
837

 
$
(26
)
 
$
190

 
$
251

 
$
448

CJUF III, RH Holdings
707

 
3

 
1,070

 
3

 
(438
)
 
(108
)
 
(651
)
 
(224
)
 
(438
)
 
(108
)
 
(651
)
 
(224
)
CL Ashton Woods (c)
361

 
1,419

 
1,069

 
2,891

 
76

 
293

 
296

 
550

 
135

 
563

 
453

 
1,140

CL Realty
459

 
373

 
827

 
801

 
322

 
216

 
552

 
452

 
161

 
108

 
276

 
226

CREA FMF Nashville

 

 

 

 

 

 
(25
)
 

 

 

 
(25
)
 

FMF Peakview

 

 

 

 
(79
)
 
(7
)
 
(152
)
 
(39
)
 
(16
)
 
(2
)
 
(31
)
 
(8
)
HM Stonewall Estates (c) 
434

 
1,098

 
1,435

 
1,098

 
170

 
425

 
522

 
400

 
68

 
182

 
209

 
176

LM Land Holdings (c)
4,395

 
3,953

 
9,293

 
5,264

 
4,044

 
3,160

 
6,971

 
3,759

 
1,220

 
1,486

 
1,897

 
1,654

PSW Communities

 

 

 

 
(4
)
 

 
(220
)
 

 
(6
)
 

 
(195
)
 

Temco
654

 
206

 
714

 
275

 
134

 
18

 
116

 
6

 
67

 
9

 
58

 
3

Other ventures (3)
27

 
788

 
49

 
5,150

 
(141
)
 
109

 
(189
)
 
(522
)
 
(207
)
 
138

 
(293
)
 
64

 
$
7,037

 
$
9,337

 
$
15,932

 
$
18,613

 
$
4,031

 
$
4,460

 
$
7,700

 
$
5,219

 
$
958

 
$
2,566

 
$
1,949

 
$
3,479


 _____________________
(a) 
Total includes current maturities of $77,510,000 at second quarter-end 2014, of which $37,795,000 is non-recourse to us, and $37,966,000 at year-end 2013, of which $37,822,000 is non-recourse to us.
(b) 
Includes unamortized deferred gains on real estate contributed by us to ventures. We recognize deferred gains as income as real estate is sold to third parties. Deferred gains of $1,648,000 are reflected as a reduction to our investment in unconsolidated ventures at second quarter-end 2014.
(c) 
Includes unrecognized basis difference of $2,089,000 which is reflected as a reduction of our investment in unconsolidated ventures at second quarter-end 2014. The difference will be accreted as income or expense over the life of the investment and included in our share of earnings (loss) from the respective ventures.
(d) 
Our investment in other ventures reflects our ownership interests, excluding venture losses that exceed our investment where we are not obligated to fund those losses. Please read Note 16—Variable Interest Entities for additional information.