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CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Assets    
Real estate, at cost $ 319,713 $ 1,117,429
Real estate subject to sales contracts at cost 46,262 48,234
Real estate held for sale at cost, net of depreciation ($113,606 in 2018) 760,497  
Less accumulated depreciation (76,482) (177,546)
Total real estate 1,049,990 988,117
Notes and interest receivable (including $96,594 in 2018 and $99,410 in 2017 from related parties) 138,290 127,865
Less allowance for estimated losses (including $14,269 in 2018 and 2017 from related parties) (14,270) (15,770)
Total notes and interest receivable 124,020 112,095
Cash and cash equivalents 23,768 42,920
Restricted cash 72,670 45,618
Investments in unconsolidated joint ventures and investees 7,504 6,396
Receivable from related party 62,530 38,311
Other assets 61,956 63,263
Total assets 1,402,438 1,296,720
Liabilities:    
Notes and interest payable 319,958 898,750
Notes related to real estate held for sale 651,401 376
Notes related to real estate subject to sales contracts   1,957
Bond and interest payable 161,010 113,049
Deferred revenue (including $33,083 in 2018 and $56,887 in 2017 to related parties) 39,426 77,332
Accounts payable and other liabilities (including $10,683 in 2018 and $11,893 in 2017 to related parties) 37,304 39,373
Total liabilities 1,209,099 1,130,837
Shareholders' equity:    
Preferred stock, Series A: $2.00 par value, authorized 15,000,000 shares, issued and outstanding 1,800,614 and 2,000,614 shares in 2018 and 2017 (liquidation preference $10 per share), including 900,000 shares in 2018 and 2017 held by ARL. 1,805 2,205
Common stock, $0.01 par value, 100,000,000 shares authorized; 16,412,861 shares issued and 15,997,076 outstanding as of 2018 and 15,930,145 shares issued and 15,514,360 outstanding as of 2017, including 140,000 shares held by TCI (consolidated) in 2018 and 2017. 164 159
Treasury stock at cost; 415,785 shares in 2018 and 2017, and 140,000 shares held by TCI (consolidated) as of 2018 and 2017 (6,395) (6,395)
Paid-in capital 109,463 110,138
Retained earnings 31,512 5,967
Total American Realty Investors, Inc. shareholders' equity 136,549 112,074
Non-controlling interest 56,790 53,809
Total shareholders' equity 193,339 165,883
Total liabilities and shareholders' equity $ 1,402,438 $ 1,296,720