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
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Assets                
Cash $ 609,979     $ 319,466        
Real estate 2,741,016     2,744,361        
Other assets 879,516     598,544        
Total assets 3,687,318     3,398,249        
Equity of:                
Meritage 2,199,849 $ 2,084,601 $ 1,990,766 1,973,990 $ 1,873,566 $ 1,798,100 $ 1,743,071 $ 1,720,755
Total liabilities and stockholders’ equity 3,687,318     3,398,249        
Equity Method Investment, Nonconsolidated Investee                
Assets                
Cash 4,662     6,329        
Real estate 6,212     6,654        
Other assets 3,599     4,382        
Total assets 14,473     17,365        
Liabilities and equity:                
Accounts payable and other liabilities 4,756     6,580        
Equity of:                
Meritage [1] 5,205     5,678        
Other 4,512     5,107        
Total liabilities and stockholders’ equity $ 14,473     $ 17,365        
[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.