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Investments in Unconsolidated Entities | 12 Months Ended
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Dec. 31, 2018
Equity Method Investments and Joint Ventures [Abstract] |
Investments in Unconsolidated Entities | Investments in Unconsolidated Entities As of December 31, 2018, we held equity investments in four active homebuilding partnerships or limited liability companies and one financial services limited liability company. Our participation in these entities may be as a developer, a builder, or an investment partner. Our ownership percentage varies from 3% to 65%, depending on the investment, with no controlling interest held in any of these investments. Investments Held Our cumulative investment in entities accounted for on the equity method, including our share of earnings and losses, consisted of the following (in thousands):
| December 31,
| 2018 |  | 2017
Limited liability company interests | $ | 2,701 |  |  | $ | 2,687 |
General partnership interests | 2,709 |  |  | 3,183 |
Total | $ | 5,410 |  |  | $ | 5,870 |
In the fourth quarter of 2017, we fully impaired a $13.2 million investment in a joint venture formed as a limited liability company in 1999 for the entitlement and development of land located in Los Angeles County, California. This $13.2 million impairment charge is included in equity in (loss) income of unconsolidated entities under our homebuilding operations on the consolidated statements of operations. Although we continue to hold a 3% equity stake in the joint venture, we are a non-funding member of the limited liability company and we expect our equity stake to be further diluted. This impairment charge is included in the Pardee Homes reporting segment in Note 2, Segment Information. Unconsolidated Financial Information Aggregated assets, liabilities and operating results of the entities we account for as equity-method investments are provided below. Because our ownership interest in these entities varies, a direct relationship does not exist between the information presented below and the amounts that are reflected on our consolidated balance sheets as our investment in unconsolidated entities or on our consolidated statement of operations as equity in (loss) income of unconsolidated entities. Assets and liabilities of unconsolidated entities (in thousands):
| December 31,
| 2018 |  | 2017
Assets |  |  |
Cash | $ | 13,337 |  |  | $ | 11,678 |
Receivables | 4,674 |  |  | 6,564 |
Real estate inventories | 99,864 |  |  | 99,997 |
Other assets | 811 |  |  | 936 |
Total assets | $ | 118,686 |  |  | $ | 119,175 |
Liabilities and equity |  |  |
Accounts payable and other liabilities | $ | 11,631 |  |  | $ | 12,208 |
Company’s equity | 5,410 |  |  | 5,870 |
Outside interests' equity | 101,645 |  |  | 101,097 |
Total liabilities and equity | $ | 118,686 |  |  | $ | 119,175 |
Results of operations from unconsolidated entities (in thousands):
| Year Ended December 31,
| 2018 |  | 2017 |  | 2016
Net sales | $ | 28,745 |  |  | $ | 24,247 |  |  | $ | 18,725 |
Other operating expense | (17,447 | ) |  | (13,904 | ) |  | (11,315 | )
Other income | 97 |  |  | 120 |  |  | 4 |
Net income | $ | 11,395 |  |  | $ | 10,463 |  |  | $ | 7,414 |
Company’s equity in income (loss) of unconsolidated entities | $ | 8,124 |  |  | $ | (5,007 | ) |  | $ | 4,989 |

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- References No definition available. + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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