Quarterly report pursuant to Section 13 or 15(d)

Investments in Unconsolidated Entities (Details)

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Investments in Unconsolidated Entities (Details) (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2012
Dec. 31, 2011
Assets:    
Cash $ 3,802 $ 4,530
Real estate 45,804 44,764
Other assets 3,622 3,946
Total assets 53,228 53,240
Liabilities and equity:    
Accounts payable and other liabilities 4,529 4,534
Notes and mortgages payable 20,658 20,923
Meritage 9,303 [1] 9,351 [1]
Other 18,738 18,432
Total liabilities and equity $ 53,228 $ 53,240
[1] Balance represents Meritage’s interest, as reflected in the financial records of the respective joint ventures. This balance may differ from the balance reflected in our condensed consolidated balance sheets due to the following reconciling items: (i) timing differences for revenue and distributions recognition, (ii) step-up basis and corresponding amortization, (iii) income deferrals as discussed in Note (3) below and (iv) the cessation of allocation of losses from joint ventures in which we have previously impaired our investment balance to zero and where we have no commitment to fund additional losses.