Unconsolidated Joint Venture

9 Months Ended

Sep. 30, 2019

Equity Method Investments And Joint Ventures [Abstract]

17. 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 September 30, 2019 and September 30, 2018 are $48 thousand and $30 thousand, respectively. Earnings for the nine months ended September 30, 2019 and September 30, 2018 are $115 thousand and $79 thousand, respectively. During the three months ended September 30, 2019 and September 30, 2018, the Company collected total distributions of $10 thousand and $36 thousand, respectively, as a return on investment. During the nine months ended September 30, 2019 and September 30, 2018, the Company collected total distributions of $124 thousand and $59 thousand, respectively.

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Statement of Operations:
Total net revenue	$	122	$	87	$	318	$	246
Total expenses		27		28		88		89
Net income	$	95	$	59	$	230	$	157
Comstock Holding Companies, Inc. share of net income	$	48	$	30	$	115	$	79