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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2014
Dec. 31, 2013
ASSET    
Real estate, at cost $ 745,544 $ 799,698
Real estate held for sale at cost, net of depreciation ($2,066 for 2014 and $2,390 for 2013) 44,288 16,427
Real estate subject to sales contracts at cost, net of depreciation ($2,212 for 2014 and $1,949 for 2013) 19,594 27,598
Less accumulated depreciation (125,352) (143,429)
Total real estate 684,074 700,294
Notes and interest receivable    
Performing (including $147,978 in 2014 and $145,754 in 2013 from related parties) 163,335 153,275
Non-performing 3,151 3,140
Less allowance for doubtful accounts (including $15,537 in 2014 and $15,809 in 2013 from related parties) (18,279) (19,600)
Total notes and interest receivable 148,207 136,815
Cash and cash equivalents 4,383 16,437
Restricted cash 28,813 32,929
Investments in unconsolidated subsidiaries and investees 4,137 3,789
Receivable from related party 22,930 14,086
Other assets 43,442 38,972
Total assets 935,986 943,322
Liabilities:    
Notes and interest payable 597,469 618,930
Notes related to assets held for sale 42,883 17,100
Notes related to subject to sales contracts 18,769 23,012
Deferred revenue (including $74,303 in 2014 and 2013 from sales to related parties) 76,148 76,148
Accounts payable and other liabilities (including $10,634 in 2014 and $15,394 in 2013 to related parties) 55,917 73,271
Total Liabilities 791,186 808,461
Shareholders' equity:    
Preferred stock, Series A: $2.00 par value, authorized 15,000,000 shares, issued and outstanding 2,461,252 shares in 2014 and 3,353,954 shares in 2013 (liquidation preference $10 per share), including 900,000 shares in 2014 and 2013 held by ARL or subsidiaries. Series K: $2.00 par value, authorized, issued and outstanding 0 shares in 2014 and 135,000 shares in 2013 (liquidation preference $22 per share) 3,126 4,908
Common stock, $0.01 par value, authorized 100,000,000 shares; issued 14,443,404 shares in 2014 and 11,941,174 shares in 2013; outstanding 14,027,619 shares in 2014 and 11,525,389 shares in 2013; including 140,000 shares held by TCI (consolidated) in 2014 and 229,214 shares held by TCI (consolidated) in 2013. 141 115
Treasury stock at cost; 415,785 shares in 2014 and 2013 (6,395) (6,395)
Paid-in capital 108,844 102,974
Retained earnings (8,046) (11,795)
Total American Realty Investors, Inc. shareholders' equity 97,670 89,807
Non-controlling interest 47,130 45,054
Total equity 144,800 134,861
Total liabilities and equity $ 935,986 $ 943,322