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Investments In Unconsolidated Entities (Tables) | 6 Months Ended
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Jun. 30, 2012
Investments in Unconsolidated Entities [Abstract] |
Financial information related to unconsolidated joint ventures, Balance sheets |
|  | At June 30, 2012 |  |  | At December 31, 2011 |
Assets: |  |  |  |  |  |  |  |
Cash |  |  | 3,532 |  |  |  | 4,530 |
Real estate |  |  | 44,432 |  |  |  | 44,764 |
Other assets |  |  | 4,870 |  |  |  | 3,946 |
Total assets |  | $ | 52,834 |  |  | $ | 53,240 |
Liabilities and equity: |  |  |  |  |  |  |  |
Accounts payable and other liabilities |  |  | 2,929 |  |  |  | 4,534 |
Notes and mortgages payable |  |  | 21,039 |  |  |  | 20,923 |
Equity of: |  |  |  |  |  |  |  |
Meritage (1) |  |  | 9,865 |  |  |  | 9,351 |
Other |  |  | 19,001 |  |  |  | 18,432 |
Total liabilities and equity |  | $ | 52,834 |  |  | $ | 53,240 |
Financial information related to unconsolidated joint ventures, operations |
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Revenue |  | $ | 4,622 |  |  | $ | 4,533 |  |  | $ | 8,465 |  |  | $ | 7,648 |
Costs and expenses |  |  | (2,502 | ) |  |  | (2,974 | ) |  |  | (4,539 | ) |  |  | (5,235 | )
Net earnings of unconsolidated entities |  | $ | 2,120 |  |  | $ | 1,559 |  |  | $ | 3,926 |  |  | $ | 2,413 |
Meritage’s share of pre-tax earings (1)(2)(3) |  | $ | 2,228 |  |  | $ | 1,226 |  |  | $ | 3,651 |  |  | $ | 2,134 |
(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 we have no commitment to fund additional losses.
(2) | The joint venture financial statements above represent the most recent information available to us.
(3) | Our share of pre-tax earnings is recorded in “Earnings from unconsolidated entities, net” on our consolidated statements of operations and excludes joint venture profit related to lots we purchased from the joint ventures. Such profit is deferred until homes are delivered by us and title passes to a homebuyer.

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