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Investments in and Advances to Joint Ventures (Tables)
9 Months Ended
Sep. 30, 2022
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, 2022

 

 

December 31, 2021

 

Current assets

 

$

268,561

 

 

$

246,342

 

Noncurrent assets

 

 

7,885

 

 

 

2,180

 

Total assets

 

 

276,446

 

 

 

248,522

 

Current liabilities

 

 

169,233

 

 

 

175,637

 

Total liabilities

 

 

169,233

 

 

 

175,637

 

Total joint venture equity

 

$

107,213

 

 

$

72,885

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2022

 

 

September 30, 2021

 

 

September 30, 2022

 

 

September 30, 2021

 

Revenue

 

$

130,344

 

 

$

101,816

 

 

$

333,967

 

 

$

296,685

 

Costs

 

 

101,882

 

 

 

86,726

 

 

 

289,485

 

 

 

260,129

 

Net income

 

$

28,462

 

 

$

15,090

 

 

$

44,482

 

 

$

36,556

 

Net income attributable to noncontrolling interests

 

$

14,024

 

 

$

7,411

 

 

$

21,685

 

 

$

17,711

 

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, 2022

 

 

December 31, 2021

 

Current assets

 

$

1,770,762

 

 

$

1,620,735

 

Noncurrent assets

 

 

487,823

 

 

 

531,261

 

Total assets

 

 

2,258,585

 

 

 

2,151,996

 

Current liabilities

 

 

1,357,131

 

 

 

1,088,985

 

Noncurrent liabilities

 

 

467,030

 

 

 

669,911

 

Total liabilities

 

 

1,824,161

 

 

 

1,758,896

 

Total joint venture equity

 

$

434,424

 

 

$

393,100

 

Investments in and advances to unconsolidated joint ventures

 

$

99,424

 

 

$

110,688

 

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2022

 

 

September 30, 2021

 

 

September 30, 2022

 

 

September 30, 2021

 

Revenue

 

$

782,880

 

 

$

728,461

 

 

$

1,762,420

 

 

$

1,701,262

 

Costs

 

 

774,030

 

 

 

697,493

 

 

 

1,711,555

 

 

 

1,604,538

 

Net income

 

$

8,850

 

 

$

30,968

 

 

$

50,865

 

 

$

96,724

 

Equity in earnings of unconsolidated joint ventures

 

$

(974

)

 

$

9,570

 

 

$

10,237

 

 

$

26,528