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Investments in and Advances to Joint Ventures (Tables)
9 Months Ended
Sep. 30, 2021
Equity Method Investments And Joint Ventures [Abstract]  
Schedule of Financial Information of Consolidated Joint Ventures

The following represents financial information for consolidated joint ventures included in the consolidated financial statements (in thousands):

 

 

 

September 30, 2021

 

 

December 31, 2020

 

Current assets

 

$

253,105

 

 

$

292,407

 

Noncurrent assets

 

 

1,856

 

 

 

2,990

 

Total assets

 

 

254,961

 

 

 

295,397

 

Current liabilities

 

 

194,543

 

 

 

201,270

 

Total liabilities

 

 

194,543

 

 

 

201,270

 

Total joint venture equity

 

$

60,418

 

 

$

94,127

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2021

 

 

September 30, 2020

 

 

September 30, 2021

 

 

September 30, 2020

 

Revenue

 

$

101,816

 

 

$

117,344

 

 

$

296,685

 

 

$

335,511

 

Costs

 

 

86,726

 

 

 

105,223

 

 

 

260,129

 

 

 

304,308

 

Net income

 

$

15,090

 

 

$

12,121

 

 

$

36,556

 

 

$

31,203

 

Net income attributable to noncontrolling interests

 

$

7,411

 

 

$

5,862

 

 

$

17,711

 

 

$

15,086

 

Summary of Financial Information for Unconsolidated Joint Ventures

The following represents the financial information of the Company’s unconsolidated joint ventures as presented in their unaudited financial statements (in thousands):

 

 

 

September 30, 2021

 

 

December 31, 2020

 

Current assets

 

$

1,103,345

 

 

$

774,646

 

Noncurrent assets

 

 

554,366

 

 

 

585,802

 

Total assets

 

 

1,657,711

 

 

 

1,360,448

 

Current liabilities

 

 

789,072

 

 

 

703,287

 

Noncurrent liabilities

 

 

562,523

 

 

 

517,697

 

Total liabilities

 

 

1,351,595

 

 

 

1,220,984

 

Total joint venture equity

 

$

306,116

 

 

$

139,464

 

Investments in and advances to unconsolidated joint ventures

 

$

102,677

 

 

$

68,975

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2021

 

 

September 30, 2020

 

 

September 30, 2021

 

 

September 30, 2020

 

Revenue

 

$

728,461

 

 

$

594,640

 

 

$

1,701,262

 

 

$

1,286,087

 

Costs

 

 

697,493

 

 

 

551,624

 

 

 

1,604,538

 

 

 

1,202,315

 

Net income

 

$

30,968

 

 

$

43,016

 

 

$

96,724

 

 

$

83,772

 

Equity in earnings of unconsolidated joint ventures

 

$

9,570

 

 

$

16,741

 

 

$

26,528

 

 

$

26,624