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Investment in Unconsolidated Entities | 9 Months Ended
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Sep. 30, 2020
Equity Method Investments and Joint Ventures [Abstract] |
Investment in Unconsolidated Entities | INVESTMENT IN UNCONSOLIDATED ENTITIES In May 2020, we established a joint venture, BHome Mortgage, LLC (“BHome Mortgage”) with First Continental Mortgage, Ltd., to provide mortgage related services to homebuyers. The Company owns 49.0% in BHome Mortgage. In August 2020, GRBK Edgewood established a joint venture, GBTM Sendera, LLC (“GBTM Sendera”), with TM Sendera to acquire and develop a tract of land in Fort Worth, Texas. Both parties hold a 50% ownership interest in GBTM Sendera. On September 1, 2020, the Company increased its ownership interest in GRBK Mortgage, LLC from 49.00% to 49.99%. A summary of the unaudited condensed financial information of the six unconsolidated entities that are accounted for by the equity method is as follows (in thousands):
| September 30, 2020 |  | December 31, 2019
Assets: |  |  |
Cash | $ | 17,771 |  |  | $ | 11,699 |
Accounts receivable | 1,446 |  |  | 3,252 |
Bonds and notes receivable | 7,342 |  |  | 5,864 |
Loans held for sale, at fair value | 21,801 |  |  | 23,143 |
Inventory | 108,006 |  |  | 73,704 |
Other assets | 8,153 |  |  | 4,012 |
Total assets | $ | 164,519 |  |  | $ | 121,674 |
Liabilities: |  |  |
Accounts payable | $ | 6,635 |  |  | $ | 1,726 |
Accrued expenses and other liabilities | 11,270 |  |  | 7,784 |
Notes payable | 61,684 |  |  | 58,223 |
Total liabilities | $ | 79,589 |  |  | $ | 67,733 |
Owners’ equity: |  |  |
Green Brick | $ | 42,260 |  |  | $ | 25,910 |
Others | 42,670 |  |  | 28,031 |
Total owners’ equity | $ | 84,930 |  |  | $ | 53,941 |
Total liabilities and owners’ equity | $ | 164,519 |  |  | $ | 121,674 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Revenues | $ | 50,068 |  |  | $ | 42,428 |  |  | $ | 138,381 |  |  | $ | 116,786 |
Costs and expenses | 39,188 |  |  | 36,227 |  |  | 111,340 |  |  | 101,348 |
Net earnings of unconsolidated entities | $ | 10,880 |  |  | $ | 6,201 |  |  | $ | 27,041 |  |  | $ | 15,438 |
Company’s share in net earnings of unconsolidated entities | 5,299 |  |  | 3,022 |  |  | $ | 13,038 |  |  | $ | 7,565 |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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