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Schedule IV (Consolidated) - Mortgage Loans on Real Estate | 12 Months Ended
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Dec. 31, 2023
Mortgage Loans on Real Estate [Abstract] |
SCHEDULE IV (CONSOLIDATED) - MORTGAGE LOANS ON REAL ESTATE | THE ST. JOE COMPANY SCHEDULE IV (CONSOLIDATED) - MORTGAGE LOANS ON REAL ESTATE DECEMBER 31, 2023 (in thousands)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Principal Amount | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | of Loans Subject | ​
​ |  | ​ | ​ | ​ | ​ | Periodic | ​ | ​ | ​ | ​ | Face | ​ | Carrying | ​ | to Delinquent | ​
​ | ​ | Interest | ​ | ​ | ​ | Payment | ​ | Prior | ​ | Amount of | ​ | Amount of | ​ | Principal | ​
Description of Note Receivable (a) |  | Rate |  | Final Maturity Date |  | Terms | ​ | Liens | ​ | Mortgages |  | Mortgages |  | or Interest | ​
Secured revolving promissory note with unconsolidated Latitude Margaritaville Watersound JV, homesite development | ​ | 5.0% | ​ | June 2025 | ​ | P&I(b) | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​
Total(c) |  |  |  |  |  |  | ​ | $ | — | ​ | $ | — | ​ | $ | — |  | $ | — | ​
(a) | All seller financed properties are located in Northwest Florida.
(b) | Principal and interest due at closing of each residential homesite to a third party. On the maturity date, all outstanding principal, all accrued interest and any other customary charges shall be due and payable in full. See Note 4. Joint Ventures and Note 20. Commitments and Contingencies for additional information related to the revolving promissory note.
(c) | The aggregate cost for federal income tax purposes approximates the amount of unpaid principal.
The summarized changes in the carrying amount of mortgage loans are as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31, | ​ | December 31,
​ |  | 2023 |  | 2022 |  | 2021
Balance at beginning of the year | ​ | $ | 1,315 | ​ | $ | 11,942 | ​ | $ | 10,321
Additions during the year - new mortgage loans | ​ |  | — | ​ |  | — | ​ |  | 7,798
Deductions during the year: | ​ |  |  | ​ |  |  | ​ |  |
Collections of principal | ​ |  | 1,315 | ​ |  | 10,699 | ​ |  | 6,005
Foreclosures | ​ |  | — | ​ |  | — | ​ |  | 128
Other | ​ | ​ | — | ​ | ​ | (72) | ​ | ​ | 44
Balance at the end of the year | ​ | $ | — | ​ | $ | 1,315 | ​ | $ | 11,942
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- Definition The entire disclosure for investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate. Includes, but is not limited to, information for each mortgage loan receivable equaling or exceeding 3 percent of carrying amount of mortgage. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 29 -Publisher SEC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 948 -SubTopic 310 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-29) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479851/948-310-S99-1 + Details
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