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Investments in Unconsolidated Entities
6 Months Ended
Jun. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Unconsolidated Entities
INVESTMENTS IN UNCONSOLIDATED ENTITIES
We participate in a number of joint ventures with related and unrelated third parties, with ownership interests up to 50.0%. These entities are generally involved in real estate development, homebuilding and mortgage lending activities.
Summarized, unaudited combined financial information of unconsolidated entities that are accounted for by the equity method is as follows (in thousands):
 
 
As of
 
 
June 30,
2016
 
December 31,
2015
Assets:
 
 
 
 
Real estate inventory
 
$
612,478

 
$
586,359

Other assets
 
170,713

 
119,781

Total assets
 
$
783,191

 
$
706,140

Liabilities and owners’ equity:
 
 
 
 
Debt
 
$
283,845

 
$
273,769

Other liabilities
 
28,544

 
11,239

Total liabilities
 
312,389

 
285,008

Owners’ equity:
 
 
 
 
TMHC
 
149,844

 
128,448

Others
 
320,958

 
292,684

Total owners’ equity
 
470,802

 
421,132

Total liabilities and owners’ equity
 
$
783,191

 
$
706,140



 
 
Three Months Ended
June 30,
 
 
Six Months Ended
June 30,
 
 
2016
 
2015
 
 
2016
 
2015
Revenues
 
$
37,042

 
$
15,777

 
 
$
49,662

 
$
17,473

Costs and expenses
 
(30,110
)
 
(12,859
)
 
 
(40,220
)
 
(14,030
)
Income of unconsolidated entities
 
$
6,932

 
$
2,918

 
 
$
9,442

 
$
3,443

TMHC’s share in income of unconsolidated entities
 
$
2,305

 
$
1,225

 
 
$
3,087

 
$
1,527

Distributions of earnings from unconsolidated entities
 
$
3,218

 
$
7,787

 
 
$
3,329

 
$
8,294



We have investments in, and advances to, a number of joint ventures with related and unrelated parties to develop land and to develop housing communities, including for-sale residential homes. Some of these joint ventures develop land for the sole use of the joint venture participants, including us, and others develop land for sale to the joint venture participants and to unrelated builders. Our share of the joint venture profit relating to lots we purchase from the joint ventures is deferred until homes are delivered by us and title passes to a homebuyer.