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Segment Reporting (Details) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2013
Mar. 31, 2013
Jun. 30, 2012
Mar. 31, 2012
Jun. 30, 2013
Mar. 31, 2013
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2012
Segment Reporting                  
Operating lease income $ 57,522   $ 54,111   $ 115,995   $ 107,305    
Interest income 29,682   36,448   54,349   73,651    
Other income 13,125   16,659   24,517   27,354    
Total revenues 100,329   107,218   194,861   208,310    
Earnings (loss) from equity method investments 8,323   18,420   30,001   53,206    
Income from sales of residential property 34,319   13,266   58,016   19,999    
Income (loss) from discontinued operations 176 [1]   1,278 [1]   1,155 [1]   5,053 [1]    
Gain from discontinued operations 8,279   24,851   13,323   27,257    
Revenue and other earnings 151,426   165,033   297,356   313,825    
Real estate expense (37,065)   (38,172)   (74,966)   (73,242)    
Other expense (146)   (3,907)   (5,770)   (4,360)    
Direct expenses (37,211)   (42,079)   (80,736)   (77,602)    
Direct segment profit (loss) 114,215   122,954   216,620   236,223    
Allocated interest expense(3) (69,157) [1]   (94,738) [1]   (140,723) [1]   (180,882) [1]    
Allocated general and administrative(4) (16,157) [2]   (16,345) [2]   (32,802) [2]   (34,524) [2]    
Segment profit (loss)(5) 28,901 [3]   11,871 [3]   43,095 [3]   20,817 [3]    
Provision for loan losses 5,020 [4]   26,531   15,226 [4]   44,031    
Impairment of assets 427 [1]   7,496 [1]   395 [1]   23,520 [1]    
Depreciation and amortization 17,400 [1]   17,181 [1]   34,854 [1]   34,418 [1]    
Capitalized expenditures 31,346   21,634   47,660   32,714    
Real estate, at cost 3,172,352       3,172,352       3,226,648
Less: accumulated depreciation (421,675)       (421,675)       (427,625)
Real estate, net 2,750,677       2,750,677       2,799,023
Real estate available and held for sale 524,092       524,092       635,865
Total real estate 3,274,769       3,274,769       3,434,888
Loans receivable and other lending investments, net 1,513,636 [5]       1,513,636 [5]       1,829,985 [5]
Other investments 189,618       189,618       398,843
Total portfolio assets 4,978,023       4,978,023       5,663,716
Cash and other assets 968,757       968,757       487,073
Total assets 5,946,780       5,946,780       6,150,789
Equity method investments 180,583       180,583       387,718
Stock-based compensation expense 4,719   3,447   9,921   8,113    
LNR Property LLC (LNR)
                  
Segment Reporting                  
Earnings (loss) from equity method investments 1,719 1,719 [6] 8,674 8,674 [6] 16,465 16,465 [6] 20,811 20,811 [6]  
Equity method investments 0       0       205,773
Real Estate Finance
                  
Segment Reporting                  
Operating lease income 0   0   0   0    
Interest income 29,682   36,448   54,349   73,651    
Other income 290   6,796   2,498   6,862    
Total revenues 29,972   43,244   56,847   80,513    
Earnings (loss) from equity method investments 0   0   0   0    
Income from sales of residential property 0   0   0   0    
Income (loss) from discontinued operations 0 [1]   0 [1]   0 [1]   0 [1]    
Gain from discontinued operations 0   0   0   0    
Revenue and other earnings 29,972   43,244   56,847   80,513    
Real estate expense 0   0   0   0    
Other expense (414)   (1,512)   (1,857)   (2,427)    
Direct expenses (414)   (1,512)   (1,857)   (2,427)    
Direct segment profit (loss) 29,558   41,732   54,990   78,086    
Allocated interest expense(3) (18,470) [1]   (32,054) [1]   (39,532) [1]   (63,798) [1]    
Allocated general and administrative(4) (2,895) [2]   (3,656) [2]   (6,135) [2]   (7,969) [2]    
Segment profit (loss)(5) 8,193 [3]   6,022 [3]   9,323 [3]   6,319 [3]    
Provision for loan losses 5,020   26,531   15,226   44,031    
Impairment of assets 0 [1]   0 [1]   0 [1]   0 [1]    
Depreciation and amortization 0 [1]   0 [1]   0 [1]   0 [1]    
Capitalized expenditures 0   0   0   0    
Real estate, at cost 0       0       0
Less: accumulated depreciation 0       0       0
Real estate, net 0       0       0
Real estate available and held for sale 0       0       0
Total real estate 0       0       0
Loans receivable and other lending investments, net 1,513,636       1,513,636       1,829,985
Other investments 0       0       0
Total portfolio assets 1,513,636       1,513,636       1,829,985
Net Lease
                  
Segment Reporting                  
Operating lease income 36,193   37,392   73,303   74,627    
Interest income 0   0   0   0    
Other income 0   0   0   0    
Total revenues 36,193   37,392   73,303   74,627    
Earnings (loss) from equity method investments 652   649   1,338   1,295    
Income from sales of residential property 0   0   0   0    
Income (loss) from discontinued operations 66 [1]   1,276 [1]   312 [1]   4,618 [1]    
Gain from discontinued operations 3,365   24,851   3,395   27,257    
Revenue and other earnings 40,276   64,168   78,348   107,797    
Real estate expense (5,757)   (6,860)   (11,420)   (11,998)    
Other expense 0   0   0   0    
Direct expenses (5,757)   (6,860)   (11,420)   (11,998)    
Direct segment profit (loss) 34,519   57,308   66,928   95,799    
Allocated interest expense(3) (20,079) [1]   (23,288) [1]   (40,069) [1]   (45,669) [1]    
Allocated general and administrative(4) (3,158) [2]   (2,581) [2]   (6,217) [2]   (5,505) [2]    
Segment profit (loss)(5) 11,282 [3]   31,439 [3]   20,642 [3]   44,625 [3]    
Provision for loan losses 0   0   0   0    
Impairment of assets 0 [1]   6,150 [1]   0 [1]   6,670 [1]    
Depreciation and amortization 9,589 [1]   9,758 [1]   19,229 [1]   19,964 [1]    
Capitalized expenditures 13,889   1,643   17,656   2,056    
Real estate, at cost 1,629,237       1,629,237       1,639,320
Less: accumulated depreciation (326,375)       (326,375)       (315,699)
Real estate, net 1,302,862       1,302,862       1,323,621
Real estate available and held for sale 8,694       8,694       0
Total real estate 1,311,556       1,311,556       1,323,621
Loans receivable and other lending investments, net 0       0       0
Other investments 16,446       16,446       16,380
Total portfolio assets 1,328,002       1,328,002       1,340,001
Operating Property
                  
Segment Reporting                  
Operating lease income 21,329   16,719   42,692   32,678    
Interest income 0   0   0   0    
Other income 11,440   9,070   19,552   17,880    
Total revenues 32,769   25,789   62,244   50,558    
Earnings (loss) from equity method investments 1,816   9,620   4,473   17,297    
Income from sales of residential property 30,842   13,266   54,539   19,999    
Income (loss) from discontinued operations 110 [1]   2 [1]   843 [1]   435 [1]    
Gain from discontinued operations 4,914   0   9,928   0    
Revenue and other earnings 70,451   48,677   132,027   88,289    
Real estate expense (24,781)   (25,929)   (50,515)   (51,667)    
Other expense 0   0   0   0    
Direct expenses (24,781)   (25,929)   (50,515)   (51,667)    
Direct segment profit (loss) 45,670   22,748   81,512   36,622    
Allocated interest expense(3) (12,452) [1]   (17,109) [1]   (25,935) [1]   (31,228) [1]    
Allocated general and administrative(4) (2,147) [2]   (2,017) [2]   (4,410) [2]   (4,004) [2]    
Segment profit (loss)(5) 31,071 [3]   3,622 [3]   51,167 [3]   1,390 [3]    
Provision for loan losses 0   0   0   0    
Impairment of assets 427 [1]   1,346 [1]   395 [1]   17,400 [1]    
Depreciation and amortization 7,231 [1]   6,613 [1]   14,437 [1]   12,636 [1]    
Capitalized expenditures 9,485   16,465   14,406   24,931    
Real estate, at cost 773,817       773,817       801,214
Less: accumulated depreciation (92,480)       (92,480)       (109,634)
Real estate, net 681,337       681,337       691,580
Real estate available and held for sale 335,571       335,571       454,587
Total real estate 1,016,908       1,016,908       1,146,167
Loans receivable and other lending investments, net 0       0       0
Other investments 18,169       18,169       25,745
Total portfolio assets 1,035,077       1,035,077       1,171,912
Land
                  
Segment Reporting                  
Operating lease income 0   0   0   0    
Interest income 0   0   0   0    
Other income 0   0   500   0    
Total revenues 0   0   500   0    
Earnings (loss) from equity method investments (1,511)   (1,550)   (3,090)   (3,102)    
Income from sales of residential property 3,477   0   3,477   0    
Income (loss) from discontinued operations 0 [1]   0 [1]   0 [1]   0 [1]    
Gain from discontinued operations 0   0   0   0    
Revenue and other earnings 1,966   (1,550)   887   (3,102)    
Real estate expense (6,527)   (5,383)   (13,031)   (9,577)    
Other expense 0   0   0   0    
Direct expenses (6,527)   (5,383)   (13,031)   (9,577)    
Direct segment profit (loss) (4,561)   (6,933)   (12,144)   (12,679)    
Allocated interest expense(3) (7,943) [1]   (10,755) [1]   (15,625) [1]   (20,771) [1]    
Allocated general and administrative(4) (1,788) [2]   (1,745) [2]   (3,635) [2]   (2,537) [2]    
Segment profit (loss)(5) (14,292) [3]   (19,433) [3]   (31,404) [3]   (35,987) [3]    
Provision for loan losses 0   0   0   0    
Impairment of assets 0 [1]   0 [1]   0 [1]   0 [1]    
Depreciation and amortization 265 [1]   349 [1]   530 [1]   694 [1]    
Capitalized expenditures 7,972   3,526   15,598   5,727    
Real estate, at cost 769,298       769,298       786,114
Less: accumulated depreciation (2,820)       (2,820)       (2,292)
Real estate, net 766,478       766,478       783,822
Real estate available and held for sale 179,827       179,827       181,278
Total real estate 946,305       946,305       965,100
Loans receivable and other lending investments, net 0       0       0
Other investments 13,068       13,068       5,493
Total portfolio assets 959,373       959,373       970,593
Corporate/ Other
                  
Segment Reporting                  
Operating lease income 0 [7]   0 [7]   0 [7]   0 [7]    
Interest income 0 [7]   0 [7]   0 [7]   0 [7]    
Other income 1,395 [7]   793 [7]   1,967 [7]   2,612 [7]    
Total revenues 1,395 [7]   793 [7]   1,967 [7]   2,612 [7]    
Earnings (loss) from equity method investments 7,366 [7]   9,701 [7]   27,280 [7]   37,716 [7]    
Income from sales of residential property 0 [7]   0 [7]   0 [7]   0 [7]    
Income (loss) from discontinued operations 0 [1],[7]   0 [1],[7]   0 [1],[7]   0 [1],[7]    
Gain from discontinued operations 0 [7]   0 [7]   0 [7]   0 [7]    
Revenue and other earnings 8,761 [7]   10,494 [7]   29,247 [7]   40,328 [7]    
Real estate expense 0 [7]   0 [7]   0 [7]   0 [7]    
Other expense 268 [7]   (2,395) [7]   (3,913) [7]   (1,933) [7]    
Direct expenses 268 [7]   (2,395) [7]   (3,913) [7]   (1,933) [7]    
Direct segment profit (loss) 9,029 [7]   8,099 [7]   25,334 [7]   38,395 [7]    
Allocated interest expense(3) (10,213) [1],[7]   (11,532) [1],[7]   (19,562) [1],[7]   (19,416) [1],[7]    
Allocated general and administrative(4) (6,169) [2],[7]   (6,346) [2],[7]   (12,405) [2],[7]   (14,509) [2],[7]    
Segment profit (loss)(5) (7,353) [3],[7]   (9,779) [3],[7]   (6,633) [3],[7]   4,470 [3],[7]    
Provision for loan losses 0 [7]   0 [7]   0 [7]   0 [7]    
Impairment of assets 0 [1],[7]   0 [1],[7]   0 [1],[7]   (550) [1],[7]    
Depreciation and amortization 315 [1],[7]   461 [1],[7]   658 [1],[7]   1,124 [1],[7]    
Capitalized expenditures 0 [7]   0 [7]   0 [7]   0 [7]    
Real estate, at cost 0 [7]       0 [7]       0 [7]
Less: accumulated depreciation 0 [7]       0 [7]       0 [7]
Real estate, net 0 [7]       0 [7]       0 [7]
Real estate available and held for sale 0 [7]       0 [7]       0 [7]
Total real estate 0 [7]       0 [7]       0 [7]
Loans receivable and other lending investments, net 0 [7]       0 [7]       0 [7]
Other investments 141,935 [7]       141,935 [7]       351,225 [7]
Total portfolio assets $ 141,935 [7]       $ 141,935 [7]       $ 351,225 [7]
[1] Includes related amounts reclassified to discontinued operations on the Company's Consolidated Statements of Operations.
[2] General and administrative excludes stock-based compensation expense of $4.7 million and $3.4 million for the three months ended June 30, 2013 and 2012, respectively, and $9.9 million and $8.1 million for the six months ended June 30, 2013 and 2012, respectively.
[3] The following is a reconciliation of segment profit (loss) to net income (loss) ($ in thousands): For the Three Months Ended June 30, For the Six Months Ended June 30, 2013 2012 2013 2012Segment profit (loss)$28,901 $11,871 $43,095 $20,817Less: Provision for loan losses(5,020) (26,531) (15,226) (44,031)Less: Impairment of assets(2)(427) (7,496) (395) (23,520)Less: Stock-based compensation expense(4,719) (3,447) (9,921) (8,113)Less: Depreciation and amortization(2)(17,400) (17,181) (34,854) (34,418)Less: Income tax (expense) benefit(2)(491) (3,477) (4,566) (4,748)Add: Gain (loss) on early extinguishment of debt, net(15,242) (4,868) (24,784) (3,164)Net income (loss)$(14,398) $(51,129) $(46,651) $(97,177)
[4] Included in the provision for loan losses for the three and six months ended June 30, 2013 was a $6.0 million recovery related to the resolution of a non-performing loan that was previously fully reserved.
[5] The Company's recorded investment in loans as of June 30, 2013 and December 31, 2012 includes accrued interest of $7.0 million and $9.8 million, respectively, which are included in "Accrued interest and operating lease income receivable, net" in the Company's Consolidated Balance Sheets.
[6] The Company records its investment in LNR on a one quarter lag, therefore, amounts in the Company's financial statements for the three and six months ended June 30, 2013 and 2012 are based on balances and results from LNR for the three and six months ended March 31, 2013 and 2012.
[7] Corporate/Other represents all corporate level and unallocated items including any intercompany eliminations necessary to reconcile to consolidated Company totals. This caption also includes the Company's joint venture investments and strategic investments that are not related to the other reportable segments above, including the Company's equity investment in LNR of $205.8 million, as of December 31, 2012, respectively, and the Company's share of equity in earnings from LNR of $1.7 million and $8.7 million for the three months ended June 30, 2013 and 2012, respectively, and $16.5 million and $20.8 million for the six months ended June 30, 2013 and 2012, respectively. See Note 6 for further details on the Company's accounting policy and summarized financial information for its investment in LNR.