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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
Assets    
Real estate, at cost $ 921,843 $ 810,214
Real estate subject to sales contracts at cost, net of depreciation ($2,475 for 2015 and $2,300 for 2014) 19,032 19,026
Less accumulated depreciation (138,961) (129,477)
Total real estate 801,914 699,763
Notes and interest receivable    
Performing (including $130,587 in 2015 and $139,466 in 2014 from related parties) 140,483 149,484
Non-performing 3,181 3,161
Less allowance for doubtful accounts (including $15,537 in 2015 and 2014 from related parties) (18,279) (18,279)
Total notes and interest receivable 125,385 134,366
Cash and cash equivalents 19,157 12,299
Restricted cash 52,183 49,266
Investments in unconsolidated joint ventures and investees 1,299 4,279
Receivable from related party 37,360 21,414
Other assets 39,320 44,111
Total assets 1,076,618 965,498
Liabilities:    
Notes and interest payable 755,508 638,891
Notes related to assets held for sale 910 1,552
Notes related to subject to sales contracts 18,251 18,616
Deferred revenue (including $72,564 in 2015 and 2014 from sales to related parties) 72,633 74,409
Accounts payable and other liabilities (including $6,732 in 2015 and $11,024 in 2014 to related parties) 43,916 52,442
Total Liabilities 891,218 785,910
Shareholders' equity:    
Preferred stock, Series A: $2.00 par value, authorized 15,000,000 shares, issued and outstanding 2,000,614 and 2,461,252 shares in 2015 and 2014 (liquidation preference $10 per share), including 900,000 shares in 2015 and 2014 held by ARL or subsidiaries. 2,205 3,126
Common stock, $0.01 par value, authorized 100,000,000 shares; issued 15,930,145 and 14,443,404 shares; outstanding 15,514,360 and 14,027,619 shares in 2015 and 2014, respectively; including 140,000 shares held by TCI (consolidated) in 2015 and 2014. 156 141
Treasury stock at cost; 415,785 shares (6,395) (6,395)
Paid-in capital 110,546 108,378
Retained earnings 23,597 19,090
Total American Realty Investors, Inc. shareholders' equity 130,109 124,340
Non-controlling interest 55,291 55,248
Total shareholders' equity 185,400 179,588
Total liabilities and shareholders' equity $ 1,076,618 $ 965,498