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CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Sep. 30, 2015
Dec. 31, 2014
Assets    
Real estate, at cost $ 961,099 $ 810,214
Real estate subject to sales contracts at cost, net of depreciation ($194 for 2015 and $2,300 for 2014) 9,213 19,026
Less accumulated depreciation (145,101) (129,477)
Total real estate 825,211 699,763
Notes and interest receivable    
Performing (including $121,099 in 2015 and $139,466 in 2014 from related parties) $ 132,452 149,484
Non-performing 3,161
Less allowance for doubtful accounts (including $15,537 in 2015 and 2014 from related parties) $ (17,037) (18,279)
Total notes and interest receivable 115,415 134,366
Cash and cash equivalents 11,989 12,299
Restricted cash 42,214 49,266
Investments in unconsolidated subsidiaries and investees 5,152 4,279
Receivable from related party 43,301 21,414
Other assets 43,829 44,111
Total assets 1,087,111 965,498
Liabilities:    
Notes and interest payable 782,570 638,891
Notes related to subject to sales contracts 7,793 20,168
Deferred revenue (including $71,603 in 2015 and $72,564 in 2014 from sales to related parties) 71,672 74,409
Accounts payable and other liabilities (including $7,001 in 2015 and $11,024 in 2014 to related parties) 46,412 52,442
Total Liabilities 908,447 785,910
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 110,136 108,378
Retained earnings 18,435 19,090
Total American Realty Investors, Inc. shareholders' equity 124,537 124,340
Non-controlling interest 54,127 55,248
Total shareholders' equity 178,664 179,588
Total liabilities and shareholders' equity $ 1,087,111 $ 965,498