| Schedule of Asset Acquired and Liability Assumed |
The following table summarizes the historical balances of the assets acquired and liabilities assumed as of April 19, 2024: | | | | | | | | | | | | | | | | | Woodside | Holt | Chesmar | | | (Dollars in thousands) | | Assets acquired | | | | | | Homebuilding: | | | | | | Cash and cash equivalents | | $ | 20,987 | | $ | 19,952 | | $ | 27,056 | | | Trade and other receivables | | 9,386 | | 18,213 | | 6,714 | | | Accounts receivable due from Parent | | 2,117 | | 1,170 | | — | | | Total inventories | | 1,372,565 | | 493,430 | | 665,338 | | | Property and equipment, net | | 22,889 | | 1,426 | | 582 | | | Deferred tax assets, net | | 5,574 | | 5,368 | | 14,321 | | | Prepaid and other assets | | 67,999 | | 21,982 | | 42,498 | | | Investment in unconsolidated entities | | 44,374 | | — | | 15,262 | | | Goodwill and intangible assets, net | | 68,951 | | 3,506 | | 168,189 | | | Total homebuilding assets acquired | | $ | 1,614,842 | | $ | 565,047 | | $ | 939,959 | | | Financial Services: | | | | | | Cash and cash equivalents | | $ | — | | $ | — | | $ | 13,032 | | | Restricted Cash | | — | | — | | 433 | | | Mortgage loans held-for-sale, net | | — | | — | | 20,301 | | | Due from related parties | | — | | — | | 46 | | | Other assets | | — | | — | | 8,369 | | | Total financial services assets | | — | | — | | 42,181 | | | Total Assets | | $ | 1,614,842 | | $ | 565,047 | | $ | 982,140 | | | | | | | | Liabilities assumed | | | | | | Homebuilding: | | | | | | Accounts payable | | $ | 49,035 | | $ | 16,025 | | $ | 33,864 | | | Accrued and other liabilities | | 107,538 | | 44,365 | | 47,156 | | | Related party payables | | 3,051 | | 149 | | 304 | | | Related party note | | 99,900 | | — | | — | | | Related party line of credit | | — | | 20,000 | | — | | | Revolving credit facility | | 10,000 | | — | | 185,000 | | | Notes payable, net | | 359,831 | | 102,689 | | 100,000 | | | Total homebuilding liabilities assumed | | $ | 629,355 | | $ | 183,228 | | $ | 366,324 | | | Financial Services: | | | | | | Accounts payable and accrued liabilities | | $ | — | | $ | — | | $ | 2,029 | | Mortgage repurchase facilities | | — | | — | | 24,767 | | | Total financial services liabilities | | — | | — | | 26,796 | | | Total Liabilities | | $ | 629,355 | | $ | 183,228 | | $ | 393,121 | | | | | | | | Net assets | | $ | 985,487 | | $ | 381,819 | | $ | 589,019 | |
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