| Schedule of Equity Method Investments |
The following table summarizes the statements of operations of the Great Park Venture for the six months ended June 30, 2026 and 2025 (in thousands): | | | | | | | | | | | | | Six Months Ended June 30, | | 2026 | | 2025 | | Land sale and related party land sale revenues | $ | 165,278 | | | $ | 357,645 | | | | | | Cost of land sales | (37,622) | | | (86,238) | | | | | | Other costs and expenses | (16,219) | | | (16,750) | | | Net income of Great Park Venture | $ | 111,437 | | | $ | 254,657 | | | The Company’s share of net income | $ | 41,789 | | | $ | 95,496 | | | Basis difference amortization, net | (3,175) | | | (7,950) | | | | | | | Equity in earnings from Great Park Venture | $ | 38,614 | | | $ | 87,546 | |
The following table summarizes the balance sheet data of the Great Park Venture and the Company’s investment balance as of June 30, 2026 and December 31, 2025 (in thousands): | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | Inventories | $ | 133,527 | | | $ | 153,117 | | Cash and cash equivalents | 229,638 | | | 187,574 | | | Contract assets, receivables and other assets, net | 22,733 | | | 28,090 | | Total assets | $ | 385,898 | | | $ | 368,781 | | Accounts payable and other liabilities | $ | 173,255 | | | $ | 175,935 | | | | | | | | | | | Capital (percentage interest) | 212,643 | | | 192,846 | | Total liabilities and capital | $ | 385,898 | | | $ | 368,781 | | The Company’s share of capital in Great Park Venture | $ | 79,741 | | | $ | 72,318 | | Unamortized basis difference | 25,460 | | | 28,635 | | The Company’s investment in the Great Park Venture | $ | 105,201 | | | $ | 100,953 | |
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