10-Q Filing

UNITED DEVELOPMENT FUNDING III, LP CIK: 1335732 Q2 2013

Filing Information

Form Type	10-Q
Accession Number	`0001144204-13-045707`
Period End Date	20130630
Filing Date	20130814
Fiscal Year	2013
Fiscal Period	Q2
XBRL Instance	udf-20130630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 48 Income Statement 64 Cash Flow Statement 72

Balance Sheet 48 line items

Line Item	Tag	Value	Unit	Period
Limited partners' capital account, units authorized	`LimitedPartnersCapitalAccountUnitsAuthorized`	22.50M	shares	Point-in-time
Limited partners' capital account, units authorized	`LimitedPartnersCapitalAccountUnitsAuthorized`	22.50M	shares	Point-in-time
Limited partners' capital account, units issued	`LimitedPartnersCapitalAccountUnitsIssued`	18.89M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.48M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$870.67K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.85M	USD	Point-in-time
Limited partners' capital account, units issued	`LimitedPartnersCapitalAccountUnitsIssued`	18.83M	shares	Point-in-time
Limited Partners' capital account, units outstanding	`LimitedPartnersCapitalAccountUnitsOutstanding`	18.83M	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$1.54M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$1.53M	USD	Point-in-time
Limited Partners' capital account, units outstanding	`LimitedPartnersCapitalAccountUnitsOutstanding`	18.89M	shares	Point-in-time
Accrued interest receivable	`InterestReceivable`	$3.72M	USD	Point-in-time
Accrued interest receivable	`InterestReceivable`	$9.78M	USD	Point-in-time
Accrued interest receivable - related parties	`AccruedInterestReceivablesRelatedParty`	$2.67M	USD	Point-in-time
Accrued interest receivable - related parties	`AccruedInterestReceivablesRelatedParty`	$516.30K	USD	Point-in-time
Accounts receivable - related parties	`AccountsReceivableRelatedParties`	$299.00K	USD	Point-in-time
Accounts receivable - related parties	`AccountsReceivableRelatedParties`	$288.40K	USD	Point-in-time
Mortgage notes receivable, net	`NotesReceivableNet`	$226.91M	USD	Point-in-time
Mortgage notes receivable, net	`NotesReceivableNet`	$233.00M	USD	Point-in-time
Mortgage notes receivable - related parties, net	`NotesReceivableRelatedParties`	$49.02M	USD	Point-in-time
Mortgage notes receivable - related parties, net	`NotesReceivableRelatedParties`	$47.13M	USD	Point-in-time
Participation interest - related party, net	`ParticipationInterestRelatedPartyNet`	$72.44M	USD	Point-in-time
Participation interest - related party, net	`ParticipationInterestRelatedPartyNet`	$75.19M	USD	Point-in-time
Other assets	`OtherAssets`	$46.63K	USD	Point-in-time
Other assets	`OtherAssets`	$124.92K	USD	Point-in-time
Total assets	`Assets`	$365.61M	USD	Point-in-time
Total assets	`Assets`	$363.33M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$118.54K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrentAndNoncurrent`	$153.95K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrentAndNoncurrent`	$204.22K	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrentAndNoncurrent`	$163.26K	USD	Point-in-time
Accrued liabilities - related parties	`DueToRelatedPartiesCurrentAndNoncurrent`	$2.05M	USD	Point-in-time
Accrued liabilities - related parties	`DueToRelatedPartiesCurrentAndNoncurrent`	$1.87M	USD	Point-in-time
Line-of-credit	`LineOfCredit`	$13.75M	USD	Point-in-time
Line-of-credit	`LineOfCredit`	$11.25M	USD	Point-in-time
Total liabilities	`Liabilities`	$16.13M	USD	Point-in-time
Total liabilities	`Liabilities`	$13.44M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Limited partners capital: 22,500,000 units authorized; 18,886,356 units issued and outstanding at June 30, 2013 and 18,827,498 units issued and outstanding at December 31, 2012	`LimitedPartnersCapitalAccount`	$347.20M	USD	Point-in-time
Limited partners capital: 22,500,000 units authorized; 18,886,356 units issued and outstanding at June 30, 2013 and 18,827,498 units issued and outstanding at December 31, 2012	`LimitedPartnersCapitalAccount`	$351.75M	USD	Point-in-time
General partners capital	`GeneralPartnersCapitalAccount`	$420.97K	USD	Point-in-time
General partners capital	`GeneralPartnersCapitalAccount`	$109.00	USD	Point-in-time
Total partners capital	`PartnersCapital`	$352.17M	USD	Point-in-time
Total partners capital	`PartnersCapital`	$347.20M	USD	Point-in-time
Total liabilities and partners capital	`LiabilitiesAndStockholdersEquity`	$363.33M	USD	Point-in-time
Total liabilities and partners capital	`LiabilitiesAndStockholdersEquity`	$365.61M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Interest income	`InterestIncomeOperating`	$18.17M	USD	2 Qtrs
Interest income	`InterestIncomeOperating`	$8.78M	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$9.19M	USD	1 Quarter
Interest income	`InterestIncomeOperating`	$17.56M	USD	2 Qtrs
Interest income - related parties	`InterestIncomeRelatedParty`	$8.40M	USD	2 Qtrs
Interest income - related parties	`InterestIncomeRelatedParty`	$4.19M	USD	1 Quarter
Interest income - related parties	`InterestIncomeRelatedParty`	$8.05M	USD	2 Qtrs
Interest income - related parties	`InterestIncomeRelatedParty`	$4.02M	USD	1 Quarter
Interest income - related parties	`InterestIncomeRelatedParty`	$16.40M	USD	Annual
Mortgage and transaction service revenues	`MortgageAndTransactionServiceRevenuesExcludingRelatedParty`	$334.28K	USD	2 Qtrs
Mortgage and transaction service revenues	`MortgageAndTransactionServiceRevenuesExcludingRelatedParty`	$251.93K	USD	2 Qtrs
Mortgage and transaction service revenues	`MortgageAndTransactionServiceRevenuesExcludingRelatedParty`	$166.25K	USD	1 Quarter
Mortgage and transaction service revenues	`MortgageAndTransactionServiceRevenuesExcludingRelatedParty`	$227.98K	USD	1 Quarter
Mortgage and transaction service revenues - related parties	`MortgageAndTransactionServiceRevenuesRelatedParty`	$378.58K	USD	2 Qtrs
Mortgage and transaction service revenues - related parties	`MortgageAndTransactionServiceRevenuesRelatedParty`	$74.29K	USD	1 Quarter
Mortgage and transaction service revenues - related parties	`MortgageAndTransactionServiceRevenuesRelatedParty`	$165.67K	USD	1 Quarter
Mortgage and transaction service revenues - related parties	`MortgageAndTransactionServiceRevenuesRelatedParty`	$622.00K	USD	Annual
Mortgage and transaction service revenues - related parties	`MortgageAndTransactionServiceRevenuesRelatedParty`	$155.28K	USD	2 Qtrs
Total revenues	`Revenues`	$13.69M	USD	1 Quarter
Total revenues	`Revenues`	$13.13M	USD	1 Quarter
Total revenues	`Revenues`	$27.06M	USD	2 Qtrs
Total revenues	`Revenues`	$26.25M	USD	2 Qtrs
Interest expense	`InterestExpenseDebt`	$309.59K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$747.95K	USD	2 Qtrs
Interest expense	`InterestExpenseDebt`	$373.97K	USD	1 Quarter
Interest expense	`InterestExpenseDebt`	$647.60K	USD	2 Qtrs
Loan loss reserve expense	`ProvisionForLoanLossesExpensed`	$139.84K	USD	1 Quarter
Loan loss reserve expense	`ProvisionForLoanLossesExpensed`	$287.99K	USD	2 Qtrs
Loan loss reserve expense	`ProvisionForLoanLossesExpensed`	$279.77K	USD	2 Qtrs
Loan loss reserve expense	`ProvisionForLoanLossesExpensed`	$145.42K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpenseExcludingRelatedParty`	$377.12K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpenseExcludingRelatedParty`	$561.65K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpenseExcludingRelatedParty`	$477.11K	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpenseExcludingRelatedParty`	$275.54K	USD	1 Quarter
General and administrative - related parties	`GeneralAndAdministrativeExpenseRelatedParty`	$1.38M	USD	2 Qtrs
General and administrative - related parties	`GeneralAndAdministrativeExpenseRelatedParty`	$1.39M	USD	2 Qtrs
General and administrative - related parties	`GeneralAndAdministrativeExpenseRelatedParty`	$2.80M	USD	Annual
General and administrative - related parties	`GeneralAndAdministrativeExpenseRelatedParty`	$694.31K	USD	1 Quarter
General and administrative - related parties	`GeneralAndAdministrativeExpenseRelatedParty`	$688.85K	USD	1 Quarter
Total expenses	`TotalExpenses`	$1.42M	USD	1 Quarter
Total expenses	`TotalExpenses`	$2.97M	USD	2 Qtrs
Total expenses	`TotalExpenses`	$2.80M	USD	2 Qtrs
Total expenses	`TotalExpenses`	$1.58M	USD	1 Quarter
Net income	`NetIncomeLoss`	$23.28M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$11.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$214.70M	USD	32 Qtrs
Net income	`NetIncomeLoss`	$24.26M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$12.26M	USD	1 Quarter
Earnings allocated to limited partners	`NetIncomeLossAllocatedToLimitedPartners`	$21.74M	USD	2 Qtrs
Earnings allocated to limited partners	`NetIncomeLossAllocatedToLimitedPartners`	$20.86M	USD	2 Qtrs
Earnings allocated to limited partners	`NetIncomeLossAllocatedToLimitedPartners`	$10.99M	USD	1 Quarter
Earnings allocated to limited partners	`NetIncomeLossAllocatedToLimitedPartners`	$10.36M	USD	1 Quarter
Earnings per weighted average limited partnership units outstanding, basic and diluted (in dollars per units)	`EarningsPerShareBasicAndDiluted`	$1.15	USD	2 Qtrs
Earnings per weighted average limited partnership units outstanding, basic and diluted (in dollars per units)	`EarningsPerShareBasicAndDiluted`	$0.58	USD	1 Quarter
Earnings per weighted average limited partnership units outstanding, basic and diluted (in dollars per units)	`EarningsPerShareBasicAndDiluted`	$1.13	USD	2 Qtrs
Earnings per weighted average limited partnership units outstanding, basic and diluted (in dollars per units)	`EarningsPerShareBasicAndDiluted`	$0.56	USD	1 Quarter
Weighted average limited partnership units outstanding (in shares)	`WeightedAverageLimitedPartnershipUnitsOutstandingBasicAndDiluted`	18.50M	shares	1 Quarter
Weighted average limited partnership units outstanding (in shares)	`WeightedAverageLimitedPartnershipUnitsOutstandingBasicAndDiluted`	18.91M	shares	2 Qtrs
Weighted average limited partnership units outstanding (in shares)	`WeightedAverageLimitedPartnershipUnitsOutstandingBasicAndDiluted`	18.44M	shares	2 Qtrs
Weighted average limited partnership units outstanding (in shares)	`WeightedAverageLimitedPartnershipUnitsOutstandingBasicAndDiluted`	18.93M	shares	1 Quarter
Distributions per weighted average limited partnership units outstanding (in dollars per units)	`DistributionsPerLimitedPartnershipUnitOutstanding`	$0.49	USD	1 Quarter
Distributions per weighted average limited partnership units outstanding (in dollars per units)	`DistributionsPerLimitedPartnershipUnitOutstanding`	$0.97	USD	2 Qtrs
Distributions per weighted average limited partnership units outstanding (in dollars per units)	`DistributionsPerLimitedPartnershipUnitOutstanding`	$0.98	USD	2 Qtrs
Distributions per weighted average limited partnership units outstanding (in dollars per units)	`DistributionsPerLimitedPartnershipUnitOutstanding`	$0.49	USD	1 Quarter

Cash Flow Statement 72 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$23.28M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$11.55M	USD	1 Quarter
Net income	`NetIncomeLoss`	$214.70M	USD	32 Qtrs
Net income	`NetIncomeLoss`	$24.26M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$12.26M	USD	1 Quarter
Provision for loan losses	`ProvisionForLoanLossesExpensed`	$139.84K	USD	1 Quarter
Provision for loan losses	`ProvisionForLoanLossesExpensed`	$287.99K	USD	2 Qtrs
Provision for loan losses	`ProvisionForLoanLossesExpensed`	$279.77K	USD	2 Qtrs
Provision for loan losses	`ProvisionForLoanLossesExpensed`	$145.42K	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$39.27K	USD	2 Qtrs
Amortization	`AmortizationOfIntangibleAssets`	$90.02K	USD	2 Qtrs
Accrued interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$6.06M	USD	2 Qtrs
Accrued interest receivable	`IncreaseDecreaseInAccruedInterestReceivableNet`	$-704.43K	USD	2 Qtrs
Accrued interest receivable - related parties	`IncreaseDecreaseInAccruedInterestReceivableRelatedParty`	$6.25M	USD	2 Qtrs
Accrued interest receivable - related parties	`IncreaseDecreaseInAccruedInterestReceivableRelatedParty`	$-2.16M	USD	2 Qtrs
Accounts receivable - related parties	`IncreaseDecreaseInAccountsReceivableRelatedParty`	$163.43K	USD	2 Qtrs
Accounts receivable - related parties	`IncreaseDecreaseInAccountsReceivableRelatedParty`	$-10.60K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-39.02K	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$120.61K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$35.41K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-60.22K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-40.96K	USD	2 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-83.39K	USD	2 Qtrs
Accrued liabilities - related parties	`IncreaseDecreaseInDueToRelatedParties`	$-182.34K	USD	2 Qtrs
Accrued liabilities - related parties	`IncreaseDecreaseInDueToRelatedParties`	$-324.82K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$220.30M	USD	32 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$17.36M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$20.55M	USD	2 Qtrs
Investments in mortgage notes receivable	`PaymentsToAcquireMortgageNotesReceivable`	$14.57M	USD	2 Qtrs
Investments in mortgage notes receivable	`PaymentsToAcquireMortgageNotesReceivable`	$11.78M	USD	2 Qtrs
Investments in mortgage notes receivable - related parties	`OriginationOfNotesReceivableFromRelatedParties`	$102.70K	USD	2 Qtrs
Investments in mortgage notes receivable - related parties	`OriginationOfNotesReceivableFromRelatedParties`	$2.36M	USD	2 Qtrs
Investments in participation interest - related party	`InvestmentsInParticipationInterestRelatedParty`	-	USD	2 Qtrs
Investments in participation interest - related party	`InvestmentsInParticipationInterestRelatedParty`	$2.60M	USD	2 Qtrs
Receipts from mortgage notes receivable	`ProceedsFromSaleAndCollectionOfMortgageNotesReceivable`	$5.25M	USD	2 Qtrs
Receipts from mortgage notes receivable	`ProceedsFromSaleAndCollectionOfMortgageNotesReceivable`	$10.32M	USD	2 Qtrs
Receipts from mortgage notes receivable - related parties	`RepaymentOfNotesReceivableFromRelatedParties`	$4.55M	USD	2 Qtrs
Receipts from mortgage notes receivable - related parties	`RepaymentOfNotesReceivableFromRelatedParties`	$2.15M	USD	2 Qtrs
Receipts from participation interest - related party	`RepaymentOfParticipationInterestRelatedParty`	$78.85K	USD	2 Qtrs
Receipts from participation interest - related party	`RepaymentOfParticipationInterestRelatedParty`	$5.35M	USD	2 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$7.97K	USD	2 Qtrs
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$7.92K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.74M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.99M	USD	2 Qtrs
Payments on line-of-credit	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	2 Qtrs
Payments on line-of-credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$-2.50M	USD	2 Qtrs
Limited partners contributions	`LimitedPartnerContributions`	-	USD	2 Qtrs
Limited partners contributions	`LimitedPartnerContributions`	$390.00	USD	2 Qtrs
Limited partner distributions	`LimitedPartnersCapitalAccountDistributionAmount`	$-17.99M	USD	2 Qtrs
Limited partner distributions	`LimitedPartnersCapitalAccountDistributionAmount`	$-18.38M	USD	2 Qtrs
Limited partner distributions	`LimitedPartnersCapitalAccountDistributionAmount`	$-179.10M	USD	32 Qtrs
Limited partner distribution reinvestment	`DistributionReinvestment`	$5.22M	USD	2 Qtrs
Limited partner distribution reinvestment	`DistributionReinvestment`	$58.30M	USD	32 Qtrs
Limited partner distribution reinvestment	`DistributionReinvestment`	$5.04M	USD	2 Qtrs
Limited partner redemptions	`LimitedPartnerRedemption`	$-3.86M	USD	2 Qtrs
Limited partner redemptions	`LimitedPartnerRedemption`	$-249.00K	USD	2 Qtrs
General partner distributions	`GeneralPartnersCapitalAccountDistributionAmount`	$-2.10M	USD	2 Qtrs
General partner distributions	`GeneralPartnersCapitalAccountDistributionAmount`	$-3.61M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-21.80M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-16.62M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.26M	USD	2 Qtrs
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.98M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.48M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$870.67K	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$3.85M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.48M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$870.67K	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$2.73M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$3.85M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$663.70K	USD	2 Qtrs
Cash paid for interest	`InterestPaid`	$752.05K	USD	2 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.