| Schedule of Equity Method Investments |
The following table summarizes the statements of operations of the Great Park Venture for the nine months ended September 30, 2026 and 2025 (in thousands): | | | | | | | | | | | | | Nine Months Ended September 30, | | 2026 | | 2025 | | Land sale and related party land sale revenues | $ | 165,784 | | | $ | 630,717 | | | | | | Cost of land sales | (37,622) | | | (151,121) | | | | | | Other costs and expenses | (23,814) | | | (23,305) | | | Net income of Great Park Venture | $ | 104,348 | | | $ | 456,291 | | | The Company’s share of net income | $ | 39,131 | | | $ | 171,109 | | | Basis difference amortization, net | (3,175) | | | (14,015) | | | | | | | Equity in earnings from Great Park Venture | $ | 35,956 | | | $ | 157,094 | |
The following table summarizes the balance sheet data of the Great Park Venture and the Company’s investment balance as of September 30, 2026 and December 31, 2025 (in thousands): | | | | | | | | | | | | | September 30, 2026 | | December 31, 2025 | Inventories | $ | 149,643 | | | $ | 153,117 | | Cash and cash equivalents | 128,471 | | | 187,574 | | | Contract assets, receivables and other assets, net | 22,491 | | | 28,090 | | Total assets | $ | 300,605 | | | $ | 368,781 | | Accounts payable and other liabilities | $ | 179,904 | | | $ | 175,935 | | | | | | | | | | | Capital (percentage interest) | 120,701 | | | 192,846 | | Total liabilities and capital | $ | 300,605 | | | $ | 368,781 | | The Company’s share of capital in Great Park Venture | $ | 45,263 | | | $ | 72,318 | | Unamortized basis difference | 25,460 | | | 28,635 | | The Company’s investment in the Great Park Venture | $ | 70,723 | | | $ | 100,953 | |
|