Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN UNCONSOLIDATED ENTITIES - Summary of Condensed Financial Information Related to Unconsolidated Equity Method Joint Ventures, Assets Liabilities and Equity (Details)

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INVESTMENTS IN UNCONSOLIDATED ENTITIES - Summary of Condensed Financial Information Related to Unconsolidated Equity Method Joint Ventures, Assets Liabilities and Equity (Details) - USD ($)
$ in Thousands
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Assets            
Cash $ 684,374   $ 745,621      
Real estate 3,251,787   2,778,039      
Other assets 991,426   1,022,475      
Total assets 4,321,553   3,864,398      
Equity of:            
Meritage 2,628,144 $ 2,476,693 2,347,868 $ 2,084,601 $ 1,990,766 $ 1,973,990
Total liabilities and stockholders’ equity 4,321,553   3,864,398      
Equity Method Investment, Nonconsolidated Investee            
Assets            
Cash 3,949   4,656      
Real estate 5,729   5,745      
Other assets 4,524   5,118      
Total assets 14,202   15,519      
Liabilities and equity:            
Accounts payable and other liabilities 4,525   5,588      
Equity of:            
Meritage [1] 5,195   5,330      
Other 4,482   4,601      
Total liabilities and stockholders’ equity $ 14,202   $ 15,519      
[1] Balance represents Meritage’s interest, as reflected in the financial records of the respective joint ventures. This balance may differ from the balance reported in our unaudited consolidated financial statements due to the following reconciling items: (i) timing differences for revenue and distributions recognition, (ii) step-up basis and corresponding amortization, (iii) capitalization of interest on qualified assets, (iv) income deferrals as discussed in Note (2) below and (v) the cessation of allocation of losses from joint ventures in which we have previously written down our investment balance to zero and where we have no commitment to fund additional losses.