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Investment in Unconsolidated Ventures (Tables)
9 Months Ended
Sep. 30, 2015
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
 
Third
Quarter-End
 
Year-End
 
Third
Quarter-End
 
Year-End
 
Third
Quarter-End
 
Year-End
 
Third
Quarter-End
 
Year-End
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
 
(In thousands)
242, LLC (b)
$
27,647

 
$
33,021

 
$

 
$
6,940

 
$
25,822

 
$
21,789

 
$
12,239

 
$
10,098

CL Ashton Woods, LP (c)
8,453

 
13,269

 

 

 
5,671

 
11,453

 
2,620

 
6,015

CL Realty, LLC
8,246

 
7,960

 

 

 
8,084

 
7,738

 
4,042

 
3,869

CREA FMF Nashville LLC (b)
57,193

 
40,014

 
49,960

 
29,660

 
4,780

 
5,987

 
4,309

 
5,516

Elan 99, LLC
25,572

 
10,070

 
5,726

 
1

 
15,885

 
9,643

 
14,297

 
8,679

FOR/SR Forsyth LLC
6,300

 

 

 

 
6,300

 

 
5,670

 

FMF Littleton LLC
43,828

 
26,953

 
15,665

 

 
24,585

 
24,435

 
6,324

 
6,287

FMF Peakview LLC
48,984

 
43,638

 
29,426

 
23,070

 
16,924

 
17,464

 
3,467

 
3,575

HM Stonewall Estates, Ltd (c)
3,054

 
3,750

 

 
669

 
3,054

 
3,081

 
1,822

 
1,752

LM Land Holdings, LP (c)
33,397

 
25,561

 
8,015

 
4,448

 
23,679

 
18,500

 
11,033

 
9,322

MRECV DT Holdings LLC
3,899

 

 

 

 
3,899

 

 
3,510

 

MRECV Edelweiss LLC
2,000

 

 

 

 
2,000

 

 
1,800

 

MRECV Juniper Ridge LLC
1,796

 

 

 

 
1,796

 

 
1,616

 

Miramonte Boulder Pass, LLC
12,429

 

 
5,360

 

 
5,533

 

 
5,403

 

PSW Communities, LP
14,060

 
16,045

 
6,880

 
10,515

 
6,557

 
4,415

 
4,123

 
3,924

Temco Associates, LLC
5,813

 
11,756

 

 

 
5,232

 
11,556

 
2,616

 
5,778

Other ventures (d)
6,605

 
8,453

 
22,956

 
26,944

 
(31,306
)
 
(25,614
)
 
434

 
190

 
$
309,276

 
$
240,490

 
$
143,988

 
$
102,247

 
$
128,495

 
$
110,447

 
$
85,325

 
$
65,005

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)
 
Third Quarter
 
First Nine Months
 
Third Quarter
 
First Nine Months
 
Third Quarter
 
First Nine Months
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
 
(In thousands)
242, LLC (b)
$
2,884

 
$
88

 
$
20,583

 
$
1,563

 
$
1,161

 
$
(32
)
 
$
9,034

 
$
448

 
$
597

 
$
(15
)
 
$
4,642

 
$
236

CL Ashton Woods, LP (c)
3,958

 
790

 
6,369

 
1,859

 
1,341

 
277

 
2,719

 
573

 
1,849

 
373

 
3,405

 
826

CL Realty, LLC
205

 
413

 
674

 
1,240

 
103

 
294

 
346

 
846

 
52

 
147

 
174

 
423

CREA FMF Nashville LLC (b)
442

 

 
477

 

 
(991
)
 

 
(1,207
)
 
(25
)
 
(991
)
 

 
(1,207
)
 
(25
)
Elan 99, LLC

 

 

 

 

 

 
(2
)
 

 

 

 
(2
)
 

FMF Littleton LLC
6

 

 
6

 

 
(152
)
 

 
(152
)
 

 
(38
)
 

 
(38
)
 

FMF Peakview LLC
628

 
3

 
1,280

 
3

 
(286
)
 
(109
)
 
(1,020
)
 
(261
)
 
(58
)
 
(21
)
 
(204
)
 
(52
)
FOR/SR Forsyth LLC

 

 

 

 

 

 

 

 

 

 

 

HM Stonewall Estates, Ltd (c)
921

 
292

 
2,590

 
1,727

 
480

 
91

 
1,292

 
613

 
157

 
36

 
730

 
245

LM Land Holdings, LP (c)
1,857

 
4,604

 
8,154

 
13,897

 
1,391

 
3,397

 
5,179

 
10,368

 
423

 
1,200

 
1,710

 
3,097

MRECV DT Holdings LLC

 

 

 

 
167

 

 
167

 

 

 

 

 

MRECV Edelweiss LLC

 

 

 

 
125

 

 
125

 

 
65

 

 
65

 

MRECV Juniper Ridge LLC

 

 

 

 
105

 

 
105

 

 

 

 

 

Miramonte Boulder Pass, LLC

 

 

 

 
(92
)
 

 
(141
)
 

 
(46
)
 

 
(71
)
 

PSW Communities, LP
5,145

 

 
21,214

 

 
613

 
(11
)
 
3,141

 
(231
)
 
127

 
(9
)
 
1,088

 
(204
)
Temco Associates, LLC
8,019

 
79

 
9,163

 
793

 
1,618

 
42

 
2,077

 
158

 
809

 
21

 
1,039

 
79

Other ventures (d)
71

 
2,427

 
3,772

 
3,546

 
242

 
386

 
(16
)
 
(454
)
 
(37
)
 
284

 
207

 
(660
)
 
$
24,136

 
$
8,696

 
$
74,282

 
$
24,628

 
$
5,825

 
$
4,335

 
$
21,647

 
$
12,035

 
$
2,909

 
$
2,016

 
$
11,538

 
$
3,965


 _____________________
(a) 
Total includes current maturities of $72,637,000 at third quarter-end 2015, of which $40,902,000 is non-recourse to us, and $65,795,000 at year-end 2014, of which $42,566,000 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 $1,496,000 are reflected as a reduction to our investment in unconsolidated ventures at third quarter-end 2015.
(c) 
Includes unrecognized basis difference of $588,000 which is reflected as a reduction of our investment in unconsolidated ventures at third quarter-end 2015. 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.