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Segment Reporting (Details) (USD $)
In Thousands, unless otherwise specified
 1 Months Ended 3 Months Ended 6 Months Ended 9 Months Ended
Apr. 19, 2013
Sep. 30, 2013
Sep. 30, 2012
Jun. 30, 2012
Apr. 19, 2013
Sep. 30, 2013
Sep. 30, 2012
Jun. 30, 2012
Dec. 31, 2012
Segment Reporting                  
Operating lease income   $ 60,306 $ 53,029     $ 175,638 $ 159,670    
Interest income   24,235 31,171     78,584 104,822    
Other income   11,261 9,334     35,778 36,696    
Total revenues   95,802 93,534     290,000 301,188    
Earnings (loss) from equity method investments   4,345 22,719     34,346 75,925    
Income from sales of residential property   14,075 15,584     72,092 35,583    
Net operating income from discontinued operations(2)   788 [1] 510 [1]     2,473 [1] 6,227 [1]    
Gain from discontinued operations   9,166 0     22,488 27,257    
Revenue and other earnings   124,176 132,347     421,399 446,180    
Real estate expense   (37,604) (37,797)     (112,437) (111,048)    
Other expense   (1,495) (2,394)     (7,266) (6,754)    
Direct expenses   (39,099) (40,191)     (119,703) (117,802)    
Direct segment profit (loss)   85,077 92,156     301,696 328,378    
Allocated interest expense(2)   (63,793) [1] (91,777) [1]     (204,516) [1] (272,659) [1]    
Allocated general and administrative(3)   (19,722) [2] (15,525) [2]     (52,524) [2] (50,049) [2]    
Segment profit (loss)(4)   1,562 [3] (15,146) [3]     44,656 [3] 5,670 [3]    
Provision for (recovery of) loan losses   (9,834) [4] 16,834     5,392 [4] 60,865    
Impairment of assets(2)   6,785 [1] 6,542 [1]     7,181 [1] 30,061 [1]    
Depreciation and amortization(2)   19,019 [1] 16,787 [1]     53,873 [1] 51,205 [1]    
Capitalized expenditures   25,105 13,022     72,765 45,736    
Real estate, at cost   3,224,167       3,224,167     3,226,648
Less: accumulated depreciation   (438,732)       (438,732)     (427,625)
Real estate, net   2,785,435       2,785,435     2,799,023
Real estate available and held for sale   410,080       410,080     635,865
Total real estate   3,195,515       3,195,515     3,434,888
Loans receivable and other lending investments, net   1,362,752 [5]       1,362,752 [5]     1,829,985 [5]
Other investments   187,510       187,510     398,843
Total portfolio assets   4,745,777       4,745,777     5,663,716
Cash and other assets   1,027,563       1,027,563     487,073
Total assets   5,773,340       5,773,340     6,150,789
Equity method investments   179,877       179,877     387,718
Stock-based compensation expense   4,563 3,512     14,484 11,625    
LNR Property LLC (LNR)
                  
Segment Reporting                  
Earnings (loss) from equity method investments 0 [6],[7] 0 15,206 15,206 [6],[7] 55,553 [6],[7] 16,465 36,017 36,017 [6],[7]  
Equity method investments   0       0     205,773
Real Estate Finance
                  
Segment Reporting                  
Operating lease income   0 0     0 0    
Interest income   24,235 31,171     78,584 104,822    
Other income   1,731 1,300     4,229 8,162    
Total revenues   25,966 32,471     82,813 112,984    
Earnings (loss) from equity method investments   0 0     0 0    
Income from sales of residential property   0 0     0 0    
Net operating income from discontinued operations(2)   0 [1] 0 [1]     0 [1] 0 [1]    
Gain from discontinued operations   0 0     0 0    
Revenue and other earnings   25,966 32,471     82,813 112,984    
Real estate expense   0 0     0 0    
Other expense   (253) (1,478)     (1,586) (3,906)    
Direct expenses   (253) (1,478)     (1,586) (3,906)    
Direct segment profit (loss)   25,713 30,993     81,227 109,078    
Allocated interest expense(2)   (16,172) [1] (28,118) [1]     (55,500) [1] (90,273) [1]    
Allocated general and administrative(3)   (3,610) [2] (3,324) [2]     (9,661) [2] (11,456) [2]    
Segment profit (loss)(4)   5,931 [3] (449) [3]     16,066 [3] 7,349 [3]    
Provision for (recovery of) loan losses   (9,834) 16,834     5,392 60,865    
Impairment of assets(2)   0 [1] 0 [1]     0 [1] 0 [1]    
Depreciation and amortization(2)   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   1,362,752       1,362,752     1,829,985
Other investments   0       0     0
Total portfolio assets   1,362,752       1,362,752     1,829,985
Net Lease
                  
Segment Reporting                  
Operating lease income   36,142 37,378     108,781 111,343    
Interest income   0 0     0 0    
Other income   0 0     0 0    
Total revenues   36,142 37,378     108,781 111,343    
Earnings (loss) from equity method investments   679 667     2,017 1,962    
Income from sales of residential property   0 0     0 0    
Net operating income from discontinued operations(2)   303 [1] 608 [1]     1,145 [1] 5,890 [1]    
Gain from discontinued operations   0 0     3,395 27,257    
Revenue and other earnings   37,124 38,653     115,338 146,452    
Real estate expense   (5,223) (6,676)     (16,508) (18,674)    
Other expense   0 0     0 0    
Direct expenses   (5,223) (6,676)     (16,508) (18,674)    
Direct segment profit (loss)   31,901 31,977     98,830 127,778    
Allocated interest expense(2)   (19,066) [1] (21,426) [1]     (59,296) [1] (65,656) [1]    
Allocated general and administrative(3)   (4,282) [2] (2,521) [2]     (10,353) [2] (8,236) [2]    
Segment profit (loss)(4)   8,553 [3] 8,030 [3]     29,181 [3] 53,886 [3]    
Provision for (recovery of) loan losses   0 0     0 0    
Impairment of assets(2)   494 [1] 0 [1]     494 [1] 6,670 [1]    
Depreciation and amortization(2)   9,556 [1] 9,795 [1]     28,787 [1] 30,822 [1]    
Capitalized expenditures   4,322 770     21,977 2,826    
Real estate, at cost   1,631,017       1,631,017     1,639,320
Less: accumulated depreciation   (335,301)       (335,301)     (315,699)
Real estate, net   1,295,716       1,295,716     1,323,621
Real estate available and held for sale   0       0     0
Total real estate   1,295,716       1,295,716     1,323,621
Loans receivable and other lending investments, net   0       0     0
Other investments   16,426       16,426     16,380
Total portfolio assets   1,312,142       1,312,142     1,340,001
Operating Properties
                  
Segment Reporting                  
Operating lease income   24,164 15,651     66,857 48,327    
Interest income   0 0     0 0    
Other income   8,072 7,116     27,623 24,997    
Total revenues   32,236 22,767     94,480 73,324    
Earnings (loss) from equity method investments   533 3,467     5,006 20,764    
Income from sales of residential property   14,075 15,584     68,615 35,583    
Net operating income from discontinued operations(2)   485 [1] (98) [1]     1,328 [1] 337 [1]    
Gain from discontinued operations   9,166 0     19,093 0    
Revenue and other earnings   56,495 41,720     188,522 130,008    
Real estate expense   (25,178) (24,439)     (75,695) (76,114)    
Other expense   0 0     0 0    
Direct expenses   (25,178) (24,439)     (75,695) (76,114)    
Direct segment profit (loss)   31,317 17,281     112,827 53,894    
Allocated interest expense(2)   (11,082) [1] (15,342) [1]     (37,259) [1] (42,507) [1]    
Allocated general and administrative(3)   (2,735) [2] (1,970) [2]     (7,140) [2] (5,817) [2]    
Segment profit (loss)(4)   17,500 [3] (31) [3]     68,428 [3] 5,570 [3]    
Provision for (recovery of) loan losses   0 0     0 0    
Impairment of assets(2)   6,291 [1] 4,808 [1]     6,687 [1] 22,209 [1]    
Depreciation and amortization(2)   8,884 [1] 6,330 [1]     23,321 [1] 18,966 [1]    
Capitalized expenditures   11,906 6,142     26,312 31,073    
Real estate, at cost   777,848       777,848     801,214
Less: accumulated depreciation   (100,325)       (100,325)     (109,634)
Real estate, net   677,523       677,523     691,580
Real estate available and held for sale   262,332       262,332     454,587
Total real estate   939,855       939,855     1,146,167
Loans receivable and other lending investments, net   0       0     0
Other investments   16,693       16,693     25,745
Total portfolio assets   956,548       956,548     1,171,912
Land
                  
Segment Reporting                  
Operating lease income   0 0     0 0    
Interest income   0 0     0 0    
Other income   333 0     833 0    
Total revenues   333 0     833 0    
Earnings (loss) from equity method investments   (2,178) (1,914)     (5,268) (5,016)    
Income from sales of residential property   0 0     3,477 0    
Net operating income from discontinued operations(2)   0 [1] 0 [1]     0 [1] 0 [1]    
Gain from discontinued operations   0 0     0 0    
Revenue and other earnings   (1,845) (1,914)     (958) (5,016)    
Real estate expense   (7,203) (6,682)     (20,234) (16,260)    
Other expense   0 0     0 0    
Direct expenses   (7,203) (6,682)     (20,234) (16,260)    
Direct segment profit (loss)   (9,048) (8,596)     (21,192) (21,276)    
Allocated interest expense(2)   (7,541) [1] (8,495) [1]     (23,226) [1] (24,552) [1]    
Allocated general and administrative(3)   (2,487) [2] (2,167) [2]     (6,122) [2] (5,604) [2]    
Segment profit (loss)(4)   (19,076) [3] (19,258) [3]     (50,540) [3] (51,432) [3]    
Provision for (recovery of) loan losses   0 0     0 0    
Impairment of assets(2)   0 [1] 205 [1]     0 [1] 205 [1]    
Depreciation and amortization(2)   288 [1] 319 [1]     817 [1] 1,012 [1]    
Capitalized expenditures   8,877 6,110     24,476 11,837    
Real estate, at cost   815,302       815,302     786,114
Less: accumulated depreciation   (3,106)       (3,106)     (2,292)
Real estate, net   812,196       812,196     783,822
Real estate available and held for sale   147,748       147,748     181,278
Total real estate   959,944       959,944     965,100
Loans receivable and other lending investments, net   0       0     0
Other investments   12,809       12,809     5,493
Total portfolio assets   972,753       972,753     970,593
Corporate/ Other
                  
Segment Reporting                  
Operating lease income   0 [8] 0 [8]     0 [8] 0 [8]    
Interest income   0 [8] 0 [8]     0 [8] 0 [8]    
Other income   1,125 [8] 918 [8]     3,093 [8] 3,537 [8]    
Total revenues   1,125 [8] 918 [8]     3,093 [8] 3,537 [8]    
Earnings (loss) from equity method investments   5,311 [8] 20,499 [8]     32,591 [8] 58,215 [8]    
Income from sales of residential property   0 [8] 0 [8]     0 [8] 0 [8]    
Net operating income from discontinued operations(2)   0 [1],[8] 0 [1],[8]     0 [1],[8] 0 [1],[8]    
Gain from discontinued operations   0 [8] 0 [8]     0 [8] 0 [8]    
Revenue and other earnings   6,436 [8] 21,417 [8]     35,684 [8] 61,752 [8]    
Real estate expense   0 [8] 0 [8]     0 [8] 0 [8]    
Other expense   (1,242) [8] (916) [8]     (5,680) [8] (2,848) [8]    
Direct expenses   (1,242) [8] (916) [8]     (5,680) [8] (2,848) [8]    
Direct segment profit (loss)   5,194 [8] 20,501 [8]     30,004 [8] 58,904 [8]    
Allocated interest expense(2)   (9,932) [1],[8] (18,396) [1],[8]     (29,235) [1],[8] (49,671) [1],[8]    
Allocated general and administrative(3)   (6,608) [2],[8] (5,543) [2],[8]     (19,248) [2],[8] (18,936) [2],[8]    
Segment profit (loss)(4)   (11,346) [3],[8] (3,438) [3],[8]     (18,479) [3],[8] (9,703) [3],[8]    
Provision for (recovery of) loan losses   0 [8] 0 [8]     0 [8] 0 [8]    
Impairment of assets(2)   0 [1],[8] 1,529 [1],[8]     0 [1],[8] 977 [1],[8]    
Depreciation and amortization(2)   291 [1],[8] 343 [1],[8]     948 [1],[8] 405 [1],[8]    
Capitalized expenditures   0 [8] 0 [8]     0 [8] 0 [8]    
Real estate, at cost   0 [8]       0 [8]     0 [8]
Less: accumulated depreciation   0 [8]       0 [8]     0 [8]
Real estate, net   0 [8]       0 [8]     0 [8]
Real estate available and held for sale   0 [8]       0 [8]     0 [8]
Total real estate   0 [8]       0 [8]     0 [8]
Loans receivable and other lending investments, net   0 [8]       0 [8]     0 [8]
Other investments   141,582 [8]       141,582 [8]     351,225 [8]
Total portfolio assets   $ 141,582 [8]       $ 141,582 [8]     $ 351,225 [8]
[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 $4.6 million and $3.5 million for the three months ended September 30, 2013 and 2012, respectively, and $14.5 million and $11.6 million for the nine months ended September 30, 2013 and 2012, respectively.
[3] The following is a reconciliation of segment profit (loss) to net income (loss) ($ in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2013 2012 2013 2012Segment profit (loss)$1,562 $(15,146) $44,656 $5,670Less: Provision for loan losses9,834 (16,834) (5,392) (60,865)Less: Impairment of assets(2)(6,785) (6,542) (7,181) (30,061)Less: Stock-based compensation expense(4,563) (3,512) (14,484) (11,625)Less: Depreciation and amortization(2)(19,019) (16,787) (53,873) (51,205)Less: Income tax (expense) benefit(2)3,879 (1,791) (688) (6,540)Add: Gain (loss) on early extinguishment of debt, net(3,498) (3,694) (28,282) (6,858)Net income (loss)$(18,590) $(64,306) $(65,244) $(161,484)
[4] For the three and nine months ended September 30, 2013, the provision for loan losses includes recoveries of previously recorded loan loss reserves of $44.1 million and $55.1 million, respectively.
[5] The Company's recorded investment in loans as of September 30, 2013 and December 31, 2012 includes accrued interest of $6.4 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 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.
[7] 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.
[8] 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 and the Company's share of equity in earnings from LNR of $0.0 million and $15.2 million for the three months ended September 30, 2013 and 2012, respectively, and $16.5 million and $36.0 million for the nine months ended September 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.