Unconsolidated Joint Venture

6 Months Ended

Jun. 30, 2019

Equity Method Investments And Joint Ventures [Abstract]

16. UNCONSOLIDATED JOINT VENTURE

The Company accounts for its 50% interest in its title insurance joint venture using the equity method of accounting and adjusts the carrying value for its proportionate share of earnings, losses and distributions. The carrying value of the investment is included within ‘Other assets’ in the accompanying consolidated balance sheets and our proportionate share of the earnings from the investment are included in ‘Revenue – real estate services’ in the accompanying consolidated statements of operations for the periods presented.

Our share of the earnings for the three months ended June 30, 2019 and 2018 are $10 thousand and $35 thousand, respectively. Earnings for the six months ended June 30, 2019 and June 30, 2018 are $68 thousand and $49 thousand, respectively. During the three months ended June 30, 2019 and 2018, the Company collected total distributions of $56 thousand and $13 thousand, respectively, as a return on investment. During the six months ended June 30, 2019 and June 30, 2018, the Company collected total distributions of $114 thousand and $23 thousand, respectively.

Summarized financial information for the unconsolidated joint venture is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Statement of Operations:
Total net revenue	$	48	$	101	$	196	$	159
Total expenses		28		31		61		61
Net income	$	20	$	70	$	135	$	98
Comstock Holding Companies, Inc. share of net income	$	10	$	35	$	68	$	49