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Investments in Unconsolidated Entities
6 Months Ended
Jun. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Unconsolidated Entities
Investments in Unconsolidated Entities
As of June 30, 2017, we held equity investments in five active homebuilding partnerships or limited liability companies and one financial services limited liability company. Our participation in these entities may be as a developer, a builder, or an investment partner. Our ownership percentage varies from 7% to 55%, depending on the investment, with no controlling interest held in any of these investments.
Investments Held
Our cumulative investment in entities accounted for on the equity method, including our share of earnings and losses, consisted of the following (in thousands):
 
June 30, 2017
 
December 31, 2016
Limited liability company interests
$
15,604

 
$
14,327

General partnership interests
3,183

 
3,219

Total
$
18,787

 
$
17,546


Unconsolidated Financial Information
Aggregated assets, liabilities and operating results of the entities we account for as equity-method investments are provided below. Because our ownership interest in these entities varies, a direct relationship does not exist between the information presented below and the amounts that are reflected on our consolidated balance sheets as our investments in unconsolidated entities or on our consolidated statements of operations as equity in income of unconsolidated entities.
Assets and liabilities of unconsolidated entities (in thousands):
 
 
June 30, 2017
 
December 31, 2016
Assets
 
 
 
Cash
$
11,674

 
$
9,796

Receivables
5,254

 
10,203

Real estate inventories
97,800

 
97,402

Other assets
944

 
1,087

Total assets
$
115,672

 
$
118,488

Liabilities and equity
 
 
 
Accounts payable and other liabilities
$
9,107

 
$
12,844

Company’s equity
18,787

 
17,546

Outside interests' equity
87,778

 
88,098

Total liabilities and equity
$
115,672

 
$
118,488

 
Results of operations from unconsolidated entities (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
Net sales
$
5,228

 
$
4,688

 
$
10,318

 
$
7,897

Other operating expense
(3,579
)
 
(3,004
)
 
(6,182
)
 
(5,154
)
Other income
22

 
1

 
24

 
2

Net income
$
1,671

 
$
1,685

 
$
4,160

 
$
2,745

Company’s equity in income of unconsolidated entities
$
2,802

 
$
1,499

 
$
3,206

 
$
2,200