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, 2021
Jun. 30, 2021
Mar. 31, 2021
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Assets                
Cash $ 562,291     $ 745,621        
Real estate 3,593,007     2,778,039        
Other assets 890,550     1,022,475        
Total assets 4,565,449     3,864,398        
Equity of:                
Meritage 2,825,270 $ 2,628,144 $ 2,476,693 2,347,868 $ 2,199,849 $ 2,084,601 $ 1,990,766 $ 1,973,990
Total liabilities and stockholders’ equity 4,565,449     3,864,398        
Equity Method Investment, Nonconsolidated Investee                
Assets                
Cash 3,985     4,656        
Real estate 5,732     5,745        
Other assets 4,655     5,118        
Total assets 14,372     15,519        
Liabilities and equity:                
Accounts payable and other liabilities 4,641     5,588        
Equity of:                
Meritage [1] 5,184     5,330        
Other 4,547     4,601        
Total liabilities and stockholders’ equity $ 14,372     $ 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 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.