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Other Investments (Tables) | 9 Months Ended
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Sep. 30, 2013
Schedule of Equity Method Investments [Line Items] |
Schedule of other investments and its proportionate share of results for equity method investments | The Company's other investments and its proportionate share of results from equity method investments were as follows ($ in thousands):
| Carrying Value as of |  | Equity in Earnings
| September 30, 2013 |  | December 31, 2012 |  | For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
|  |  |  |  | 2013 |  | 2012 |  | 2013 |  | 2012
LNR | $ | — |  |  | $ | 205,773 |  |  | $ | — |  |  | $ | 15,206 |  |  | $ | 16,465 |  |  | $ | 36,017 |
Madison Funds | 63,784 |  |  | 56,547 |  |  | 3,674 |  |  | 3,206 |  |  | 10,798 |  |  | 11,937 |
Oak Hill Funds | 23,831 |  |  | 29,840 |  |  | 1,207 |  |  | 2,049 |  |  | 3,272 |  |  | 5,932 |
Real estate equity investments | 45,927 |  |  | 47,619 |  |  | (966 | ) |  | 2,219 |  |  | 1,755 |  |  | 17,709 |
Other equity method investments | 46,335 |  |  | 47,939 |  |  | 430 |  |  | 39 |  |  | 2,056 |  |  | 4,330 |
Total equity method investments | $ | 179,877 |  |  | $ | 387,718 |  |  | $ | 4,345 |  |  | $ | 22,719 |  |  | $ | 34,346 |  |  | $ | 75,925 |
Other | 7,633 |  |  | 11,125 |  |  |  |  |  |  |  |  |
Total other investments | $ | 187,510 |  |  | $ | 398,843 |  |  |  |  |  |  |  |  |
LNR Property LLC (LNR) |
Schedule of Equity Method Investments [Line Items] |
Schedule of summarized Income Statements | The following tables represent the latest available investee level summarized financial information for LNR ($ in thousands)(1):
| For the Period from April 1, 2013 to April 19, 2013 |  | For the Three Months Ended June 30, 2012 |  | For the Period from October 1, 2012 to April 19, 2013 |  | For the Nine Months Ended June 30, 2012
Income Statements |  |  |  |  |  |  |
Total revenue(2) | $ | 32,794 |  |  | $ | 86,038 |  |  | $ | 179,373 |  |  | $ | 234,734 |
Income tax expense | $ | 736 |  |  | $ | 1,293 |  |  | $ | 2,137 |  |  | $ | 4,935 |
Net income (loss) attributable to LNR | $ | (51,983 | ) |  | $ | 63,420 |  |  | $ | 179,719 |  |  | $ | 150,219 |
iStar's ownership percentage | 24 | % |  | 24 | % |  | 24 | % |  | 24 | %
Equity in earnings from LNR(3) | $ | — |  |  | $ | 15,206 |  |  | $ | 55,553 |  |  | $ | 36,017 |
Schedule of summarized Balance Sheets |
| As of June 30, |  | As of September 30,
| 2013 |  | 2012
Balance Sheets |  |  |
Total assets(2) | $ | — |  |  | $ | 98,513,452 |
Total debt(2) | $ | — |  |  | $ | 97,521,520 |
Total liabilities(2) | $ | — |  |  | $ | 97,639,696 |
Noncontrolling interests | $ | — |  |  | $ | 8,067 |
LNR Property LLC equity | $ | — |  |  | $ | 865,689 |
iStar's ownership percentage | 0 | % |  | 24 | %
iStar's equity in LNR(4) | $ | — |  |  | $ | 205,773 |
Explanatory Notes: _______________________________________________________________________________
(1) | The Company recorded its investment in LNR, which was sold in April 2013, on a one quarter lag, therefore, amounts in the Company's financial statements for the three and nine months ended September 30, 2013 and 2012 are based on balances and results from LNR for the period from April 1, 2013 to April 19, 2013 and for the period from October 1, 2012 to April 19, 2013, respectively.
(2) | LNR consolidates certain commercial mortgage-backed securities and collateralized debt obligation trusts that are considered VIEs (and for which it is the primary beneficiary), that have been included in the amounts presented above. As of September 30, 2012, the assets of these trusts, which aggregated $97.5 billion were the sole source of repayment of the related liabilities, which aggregated $97.2 billion and are non-recourse to LNR and its equity holders, including the Company. Excluding the amounts related to VIEs, as of September 30, 2012, total assets were $1.38 billion, total debt was $398.9 million and total liabilities were $517.1 million. In addition, total revenue presented above includes $5.1 million and $27.5 million for the period from April 1, 2013 to April 19, 2013 and three months ended June 30, 2012, respectively, and $55.5 million and $72.6 million for the period from October 1, 2012 to April 19, 2013 and nine months ended June 30, 2012, respectively, of servicing fee revenue that is eliminated upon consolidation of the VIE's at the LNR level. This income is then added back through consolidation at the LNR level as an adjustment to income allocable to noncontrolling entities and has no net impact on net income attributable to LNR.
(3) | The loss for the period from April 1, 2013 to April 19, 2013 had already been considered in the Company's other than temporary impairment assessment during the first and second quarters of 2013. As such, no equity in earnings was recorded during the quarter ended September 30, 2013. The total equity in earnings recognized for LNR was $55.6 million for the nine months ended September 30, 2013.
(4) | Represents the Company's investment in LNR at September 30, 2013 and December 31, 2012, respectively.
Schedule of equity method investment, carrying value rollforward | The following table reconciles the activity related to the Company's investment in LNR for each of the three months ended March 31, 2013, June 30, 2013 and September 30, 2013 and for the nine months ended September 30, 2013 ($ in thousands):
| For the Three Months Ended March 31, 2013 |  | For the Three Months Ended June 30, 2013 |  | For the Three Months Ended September 30, 2013 |  | For the Nine Months Ended September 30, 2013 |
Carrying value of LNR at beginning of period | $ | 205,773 |  |  | $ | 220,281 |  |  | $ | — |  |  | $ | 205,773 |  |
Equity in earnings of LNR for the period | $ | 45,375 |  |  | $ | 10,178 |  |  | $ | — |  |  | $ | 55,553 |  | (a)
Balance before other than temporary impairment | $ | 251,148 |  |  | $ | 230,459 |  |  | $ | — |  |  | $ | 261,326 |  |
Other than temporary impairment | $ | (30,867 | ) |  | $ | (10,178 | ) |  | $ | — |  |  | $ | (41,045 | ) | (b)
Sales proceeds pursuant to contract | $ | — |  |  | $ | (220,281 | ) |  | $ | — |  |  | $ | (220,281 | ) |
Carrying value of LNR at end of period | $ | 220,281 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |

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- Definition Tabular disclosure of equity method investments in common stock. The disclosure may include: (a) the name of each investee or group of investments for which combined disclosure is appropriate, (2) the percentage ownership of common stock, (3) the difference, if any, between the carrying amount of an investment and the value of the underlying equity in the net assets and the accounting treatment of difference, if any, and (4) the aggregate value of each identified investment based on its quoted market price, if available. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 20 -Subparagraph a, b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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