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Investments in Unconsolidated Entities (Tables) | 3 Months Ended
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Mar. 31, 2014
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Guarantor Obligations [Table Text Block] |
(In thousands) | At March 31, 2014 |  | At December 31, 2013
Repayment guarantees | $ | — |  |  | $ | — |
Completion guarantees (1) | — |  |  | — |
South Edge guarantee (2) | 13,243 |  |  | 13,243 |
Total guarantees | $ | 13,243 |  |  | $ | 13,243 |
(1) | As our completion guarantees are typically backed by funding from a third party, we do not believe these guarantees represent a potential cash obligation for us, as they require only non-financial performance.
(2) | See Note 13 regarding outstanding litigation related to a joint venture project known as “South Edge” or "Inspirada" and the corresponding reserves and charges we have recorded relating thereto.
Financial information related to unconsolidated joint ventures, Balance sheets |
| At March 31, 2014 |  | At December 31, 2013
Assets: |  |  |
Cash | $ | 3,986 |  |  | $ | 7,299 |
Real estate | 34,966 |  |  | 34,949 |
Other assets | 1,782 |  |  | 3,067 |
Total assets | $ | 40,734 |  |  | $ | 45,315 |
Liabilities and equity: |  |  |
Accounts payable and other liabilities | $ | 3,188 |  |  | $ | 2,889 |
Notes and mortgages payable | 13,453 |  |  | 13,453 |
Equity of: |  |  |
Meritage (1) | 7,817 |  |  | 10,332 |
Other | 16,276 |  |  | 18,641 |
Total liabilities and equity | $ | 40,734 |  |  | $ | 45,315 |
Financial information related to unconsolidated joint ventures, operations |
| Three Months Ended March 31,
| 2014 |  | 2013
Revenue | $ | 5,309 |  |  | $ | 6,404 |
Costs and expenses | (2,753 | ) |  | (2,377 | )
Net earnings of unconsolidated entities | $ | 2,556 |  |  | $ | 4,027 |
Meritage’s share of pre-tax earnings (1)(2) | $ | 2,032 |  |  | $ | 2,634 |
(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 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) income deferrals as discussed in Note (2) below and (iv) 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.
(2) | Our share of pre-tax earnings is recorded in “Earnings from financial services unconsolidated entities and other, net” and “Loss from other unconsolidated entities, net” on our consolidated income statements 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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- Definition Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12069-110248 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12265-110248 + Details
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