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Investments in Unconsolidated Entities
12 Months Ended
Dec. 31, 2015
Equity Method Investments And Joint Ventures [Abstract]  
Investments in Unconsolidated Entities

8.

Investments in Unconsolidated Entities

As of December 31, 2015, we held equity investments in six 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):

 

 

 

December 31,

 

 

 

2015

 

 

2014

 

Limited liability company interests

 

$

15,739

 

 

$

13,710

 

General partnership interests

 

 

3,260

 

 

 

3,095

 

Total

 

$

18,999

 

 

$

16,805

 

 

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 investment in unconsolidated entities or on our consolidated statement of operations as equity in income (loss) of unconsolidated entities.

Assets and liabilities of unconsolidated entities (in thousands):

 

 

 

December 31,

 

 

 

2015

 

 

2014

 

Assets

 

 

 

 

 

 

 

 

Cash

 

$

18,641

 

 

$

17,154

 

Receivables

 

 

13,108

 

 

 

9,550

 

Real estate inventories

 

 

92,881

 

 

 

95,500

 

Other assets

 

 

1,180

 

 

 

620

 

Total assets

 

$

125,810

 

 

$

122,824

 

Liabilities and equity

 

 

 

 

 

 

 

 

Accounts payable and other liabilities

 

$

14,443

 

 

$

10,914

 

Company’s equity

 

 

18,999

 

 

 

16,805

 

Outside interests' equity

 

 

92,368

 

 

 

95,105

 

Total liabilities and equity

 

$

125,810

 

 

$

122,824

 

 

Results of operations from unconsolidated entities (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2015

 

 

2014

 

 

2013

 

Net sales

 

$

7,326

 

 

$

606

 

 

$

6,271

 

Other operating expense

 

 

(6,690

)

 

 

(4,290

)

 

 

(7,521

)

Other expense

 

 

(279

)

 

 

(2

)

 

 

(18

)

Net income (loss)

 

$

357

 

 

$

(3,686

)

 

$

(1,268

)

Company’s equity in income (loss) of unconsolidated entities

 

$

2,691

 

 

$

(288

)

 

$

2