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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Assets    
Real estate, at cost $ 954,390 $ 810,214
Real estate subject to sales contracts at cost, net of depreciation ($0 in 2015 and $2,300 in 2014) 49,155 19,026
Less accumulated depreciation (150,038) (129,477)
Total real estate 853,507 699,763
Notes and interest receivable    
Performing (including $125,915 in 2015 and $139,466 in 2014 from related parties) 137,280 149,484
Non-performing   3,161
Less allowance for estimated losses (including $15,537 in 2015 and $15,537 in 2014 from related parties) (17,037) (18,279)
Total notes and interest receivable 120,243 134,366
Cash and cash equivalents 15,232 12,299
Restricted cash 45,711 49,266
Investments in unconsolidated subsidiaries and investees 8,365 4,279
Receivable from related party 17,287 21,414
Other assets 46,163 44,111
Total assets 1,106,508 965,498
Liabilities:    
Notes and interest payable 797,962 638,891
Notes related to assets held for sale 376 1,552
Notes related to assets subject to sales contracts 6,422 18,616
Deferred revenue (including $70,892 in 2015 and $72,564 in 2014 from sales to related parties) 80,476 74,409
Accounts payable and other liabilities (including $7,236 in 2015 and $11,024 in 2014 to related parties) 44,383 52,442
Total Liabilities 929,619 785,910
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, respectively (liquidation preference $10 per share), including 900,000 shares in 2015 and 2014 held by ARL. 2,205 3,126
Common stock, $0.01 par value, authorized 100,000,000 shares; issued 15,930,145 and 14,443,404 shares and 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 in 2015 and 2014, and 140,000 shares held by TCI (consolidated) as of 2015 and 2014. (6,395) (6,395)
Paid-in capital 109,861 108,378
Retained earnings 17,130 19,090
Total American Realty Investors, Inc. shareholders' equity 122,957 124,340
Non-controlling interest 53,932 55,248
Total equity 176,889 179,588
Total liabilities and equity $ 1,106,508 $ 965,498