Unconsolidated Joint Venture

9 Months Ended

Sep. 30, 2020

Equity Method Investments and Joint Ventures [Abstract]

UNCONSOLIDATED JOINT VENTURE

The Company accounts for its 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 investment in the unconsolidated joint venture was $11 thousand and $125 thousand as of September 30, 2020 and December 31, 2019, respectively, and is included within ‘Prepaid and other assets, net’ in the accompanying Consolidated Balance Sheets.

The Company’s share of earnings for the three and nine months ended September 30, 2020 from this unconsolidated joint venture of $1 thousand and $16 thousand, respectively, is included in ‘Other income, net’ in the accompanying Consolidated Statement of Operations. During the three and nine months ended September 30, 2020, the Company collected and recorded distributions of 22 thousand and $130 thousand from this joint venture as a return on investment.

The Company’s share of earnings for the three and nine months ended September 30, 2019 from this unconsolidated joint venture of $48 thousand and $115 thousand, respectively, is included in ‘Other income, net’ in the accompanying Consolidated Statement of Operations. During the three and nine months ended September 30, 2019, the Company collected and recorded distributions of 10 thousand and 124 thousand, respectively, from this joint venture as a return on investment.

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Statement of Operations:
Total net revenue	$	30	$	122	$	125	$	318
Total expenses	28		27		94		88
Net income	$	2	$	95	$	31	$	230
Comstock Holding Companies, Inc. share of net income	$	1	$	48	$	16	$	115