Quarterly report [Sections 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)

v3.25.2
INVESTMENTS IN UNCONSOLIDATED ENTITIES - Summary of Condensed Financial Information Related to Unconsolidated Equity Method Joint Ventures, Assets Liabilities and Equity (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2024
Dec. 31, 2023
Assets                
Real estate $ 5,963,674   $ 5,963,674     $ 5,728,775    
Other assets 1,536,660   1,536,660     1,212,739    
Total assets 7,756,369   7,756,369     7,162,654    
Equity of:                
Meritage 5,269,174 $ 4,882,534 5,269,174 $ 4,882,534 $ 5,194,744 5,141,573 $ 4,720,573 $ 4,611,900
Total liabilities and stockholders’ equity 7,756,369   7,756,369     7,162,654    
Earnings/(loss) from financial services unconsolidated entities and other, net     2,164 2,627        
Unconsolidated entities                
Equity of:                
Earnings/(loss) from financial services unconsolidated entities and other, net 2,186 $ 2,288 3,067 $ 3,741        
Equity Method Investment, Nonconsolidated Investee                
Assets                
Real estate 80,374   80,374     66,443    
Other assets 6,208   6,208     7,286    
Total assets 98,766   98,766     78,163    
Liabilities and equity:                
Accounts payable and other liabilities 7,035   7,035     7,148    
Equity of:                
Meritage [1] 34,835   34,835     27,735    
Other 56,896   56,896     43,280    
Total liabilities and stockholders’ equity 98,766   98,766     78,163    
Cash 12,184   12,184     4,434    
Cash $ 12,184   $ 12,184     $ 4,434    
[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 the accompanying 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.