Summarized condensed financial information on a combined 100% basis related to the Company’s unconsolidated entities is as follows:
Balance Sheet | | | | | | | | March 31, 2018 | | | (In millions) | Assets: | | | Cash and cash equivalents | | $ | 6.4 |
| Real estate | | 88.8 |
| Other assets | | 1.3 |
| Total assets | | $ | 96.5 |
| Liabilities and Equity: | | | Accounts payable and other liabilities | | $ | 5.2 |
| Debt | | 45.8 |
| Equity | | 45.5 |
| Total liabilities and equity | | $ | 96.5 |
|
Statement of Operations | | | | | | | | | | | | Three Months Ended March 31, 2018 | | Six Months Ended March 31, 2018 | | | (In millions) | Revenues | | $ | 3.4 |
| | $ | 12.1 |
| Net earnings of unconsolidated entities (1) | | $ | 4.3 |
| | $ | 21.7 |
| D.R. Horton’s equity in earnings of unconsolidated entities (1) | | $ | 0.4 |
| | $ | 2.7 |
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___________________ | | (1) | Earnings in the six-month period primarily relate to the gain on sale of a multi-family joint venture project in Nashville, Tennessee. D.R. Horton’s equity in earnings of unconsolidated entities of $0.4 million and $2.7 million in the three and six months ended March 31, 2018, respectively, is after consideration of purchase accounting adjustments. Forestar’s equity in earnings of unconsolidated entities for the three months ended March 31, 2018 was $1.5 million and for the period from acquisition through March 31, 2018 was $9.1 million. |
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