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Investment in Unconsolidated Entities (Tables) | 9 Months Ended
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Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Equity Method Investments | A summary of the Company’s investments in unconsolidated entities is as follows (in thousands):
|  | September 30, 2023 |  | December 31, 2022
GB Challenger, LLC |  | $ | 49,186 |  |  | $ | 49,897 |
GBTM Sendera, LLC |  | 19,530 |  |  | 14,319 |
EJB River Holdings, LLC |  | 10,398 |  |  | 8,554 |
BHome Mortgage, LLC |  | 1,096 |  |  | 1,147 |
Green Brick Mortgage, LLC(1) |  | — |  |  | 307 |
Total investment in unconsolidated entities |  | $ | 80,210 |  |  | $ | 74,224 |
(1)As of September 30, 2023, our Green Brick Mortgage joint venture was terminated and the Company incurred a de minimis loss upon dissolution.
Investment in Unconsolidated Entities | 3. INVESTMENT IN UNCONSOLIDATED ENTITIES A summary of the Company’s investments in unconsolidated entities is as follows (in thousands):
|  | September 30, 2023 |  | December 31, 2022
GB Challenger, LLC |  | $ | 49,186 |  |  | $ | 49,897 |
GBTM Sendera, LLC |  | 19,530 |  |  | 14,319 |
EJB River Holdings, LLC |  | 10,398 |  |  | 8,554 |
BHome Mortgage, LLC |  | 1,096 |  |  | 1,147 |
Green Brick Mortgage, LLC(1) |  | — |  |  | 307 |
Total investment in unconsolidated entities |  | $ | 80,210 |  |  | $ | 74,224 |
(1)As of September 30, 2023, our Green Brick Mortgage joint venture was terminated and the Company incurred a de minimis loss upon dissolution. A summary of the unaudited condensed financial information of the four unconsolidated entities as of September 30, 2023 and five unconsolidated entities as of December 31, 2022 that are accounted for by the equity method is as follows (in thousands):
| September 30, 2023 |  | December 31, 2022
Assets: |  |  |
Cash | $ | 24,877 |  |  | $ | 15,265 |
Accounts receivable | 8,315 |  |  | 4,972 |
Bonds and notes receivable | 16,252 |  |  | 10,381 |
Loans held for sale, at fair value | 5,172 |  |  | 8,829 |
Inventory | 195,156 |  |  | 195,732 |
Other assets | 6,454 |  |  | 9,352 |
Total assets | $ | 256,226 |  |  | $ | 244,531 |
Liabilities: |  |  |
Accounts payable | $ | 9,154 |  |  | $ | 10,166 |
Accrued expenses and other liabilities | 14,609 |  |  | 12,177 |
Notes payable | 84,415 |  |  | 82,484 |
Total liabilities | 108,178 |  |  | 104,827 |
Owners’ equity: |  |  |
Green Brick | 75,046 |  |  | 70,812 |
Others | 73,002 |  |  | 68,892 |
Total owners’ equity | 148,048 |  |  | 139,704 |
Total liabilities and owners’ equity | $ | 256,226 |  |  | $ | 244,531 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Revenues | $ | 66,782 |  |  | $ | 65,620 |  |  | $ | 199,852 |  |  | $ | 221,650 |
Costs and expenses | 66,844 |  |  | 54,140 |  |  | 179,990 |  |  | 181,612 |
Net earnings of unconsolidated entities | $ | (62) |  |  | $ | 11,480 |  |  | $ | 19,862 |  |  | $ | 40,038 |
Company’s share in net earnings of unconsolidated entities | $ | 1,345 |  |  | $ | 5,697 |  |  | $ | 11,265 |  |  | $ | 19,907 |
A summary of the Company’s share in net earnings by unconsolidated entity is as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
GB Challenger, LLC | $ | (71) |  |  | $ | 5,196 |  |  | $ | 7,441 |  |  | $ | 16,282 |
EJB River Holdings, LLC | 770 |  |  | 203 |  |  | 1,844 |  |  | 1,587 |
BHome Mortgage, LLC | 646 |  |  | 145 |  |  | 1,980 |  |  | 1,055 |
Green Brick Mortgage, LLC | — |  |  | 153 |  |  | — |  |  | 983 |
Total net earnings from unconsolidated entities | $ | 1,345 |  |  | $ | 5,697 |  |  | $ | 11,265 |  |  | $ | 19,907 |

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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 -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 323 -SubTopic 740 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481543/323-740-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org//323/tableOfContent + Details
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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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