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Note 4 - Discontinued Operations | 12 Months Ended
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Dec. 31, 2014
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] |
4. | Discontinued operations
In April 2014, the Company completed the sale of its REO rental operation for cash consideration of $1,500. The pre-tax loss on disposal was $1,601, before income tax recovery of $773 resulting in a net loss of $828. In July 2014, the Company completed the sale of a U.S.-based commercial real estate consulting operation for cash consideration of $12,100. The pre-tax gain on disposal was $6,607, before income tax expense of $3,023 resulting in a net gain of $3,584. On September 30, 2013, the Company completed the sale of its Field Asset Services operation for cash consideration of $49,460 (net of cash disposed of $5,177). The pre-tax loss on disposal was $7,158, before an income tax recovery of $3,100, resulting in a net loss of $4,058. Discontinued operations include three businesses: (i) Field Asset Services (previously in the Property Services segment), (ii) the REO rental operation (previously in the Residential Real Estate Services segment), and iii) a U.S.-based commercial real estate consulting operation (previously in the Commercial Real Estate Services segment).
|  | 2014 |  |  | 2013 |  |  | 2012 |
Revenues |  |  |  |  |  |  |  |  |
Field Asset Services |  | $ | - |  |  | $ | 58,063 |  |  | $ | 163,413 |
REO rental operation |  |  | 3,244 |  |  |  | 24,733 |  |  |  | 31,658 |
CRE consulting operation |  |  | 6,889 |  |  |  | 12,444 |  |  |  | 11,479 |
|  |  | 10,133 |  |  |  | 95,240 |  |  |  | 206,550 |
Operating earnings (loss) before income taxes |  |  |  |  |  |  |  |  |  |  |  |
Field Asset Services |  | $ | - |  |  | $ | (3,623 | ) |  | $ | (5,072 | )
REO rental operation |  |  | (2,580 | ) |  |  | (2,315 | ) |  |  | 3,085 |
CRE consulting operation |  |  | 926 |  |  |  | 1,459 |  |  |  | 1,098 |
|  |  | (1,654 | ) |  |  | (4,479 | ) |  |  | (889 | )
Recovery of income taxes |  |  | (756 | ) |  |  | (3,579 | ) |  |  | (429 | )
Net operating loss from discontinued operations |  |  | (898 | ) |  |  | (900 | ) |  |  | (460 | )
Net gain (loss) on disposal |  |  | 2,756 |  |  |  | (4,058 | ) |  |  | - |
Non-controlling interest share of earnings |  |  | (321 | ) |  |  | (225 | ) |  |  | (211 | )
Net earnings (loss) attributable to common shareholders from discontinued operations |  | $ | 1,537 |  |  | $ | (5,183 | ) |  | $ | (671 | )
Net earnings (loss) per share from discontinued operations |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.04 |  |  | $ | (0.16 | ) |  | $ | (0.02 | )
Diluted |  |  | 0.04 |  |  |  | (0.16 | ) |  |  | (0.02 | )
The assets and liabilities of discontinued operations as at December 31, 2014 and 2013 are as follows:
|  | 2014 |  |  | 2013 |
Current assets |  |  |  |  |  |
REO rental operation |  | $ | - |  |  | $ | 12,531 |
CRE consulting operation |  |  | - |  |  |  | 5,004 |
|  |  | - |  |  |  | 17,535 |
Non-current assets |  |  |  |  |  |  |  |
REO rental operation |  |  | - |  |  |  | 1,259 |
CRE consulting operation |  |  | - |  |  |  | 2,827 |
|  |  | - |  |  |  | 4,086 |
Total assets |  | $ | - |  |  | $ | 21,621 |
Current liabilities |  |  |  |  |  |  |  |
REO rental operation |  | $ | - |  |  | $ | 4,206 |
CRE consulting operation |  |  | - |  |  |  | 1,861 |
|  |  | - |  |  |  | 6,067 |
Non-current liabilities |  |  |  |  |  |  |  |
REO rental operation |  |  | - |  |  |  | 290 |
CRE consulting operation |  |  | - |  |  |  | 501 |
|  |  | - |  |  |  | 791 |
Total liabilities |  | $ | - |  |  | $ | 6,858 |

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- Definition The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 + Details
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