XML 41 R18.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 10 - Segment Information
 3 Months Ended
Mar. 31, 2015
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
10
.
     
SEGMENT INFORMATION
 
The Company’s reportable operating segments are comprised of the discrete business units whose operating results are regularly reviewed by the Company’s Chief Executive Officer – it’s chief decision maker – in assessing performance and determining the allocation of resources. Reportable segments are as follows:
 
 
•
Real Estate includes the development and sale of real estate inventory and the operations of Kapalua Realty Company, a general brokerage real estate company located within the Kapalua Resort.
 
 
•
Leasing primarily includes revenues and expenses from real property leasing activities, license fees and royalties for the use of certain of the Company’s trademarks and trade names by third parties, and the cost of maintaining the Company’s real estate assets, including conservation activities.
 
 
•
Utilities primarily include the operations of Kapalua Water Company and Kapalua Waste Treatment Company, the Company’s water and sewage transmission services (regulated by the Hawaii Public Utilities Commission) for the Kapalua Resort. The operating segment also includes the management of ditch, reservoir and well systems that provide non-potable irrigation water to West and Upcountry Maui areas.
 
 
•
Resort Amenities include a membership program that provides certain benefits and privileges within the Kapalua Resort for its members.
 
Reportable operating segments are measured based on operating income (loss), exclusive of general and administrative, share-based compensation, depreciation, pension and other post retirement expenses and interest expense.
 
Condensed financial information for each of the Company’s reportable operating segments for the three months ended March 31, 2015 and 2014 were as follows:
 
 
 
Three Months
 
 
 
Ended March 31,
 
 
 
2015
 
 
2014
 
 
 
(in thousands)
 
Operating Segment Revenues
                
Real estate
  $ 112     $ 83  
Leasing
    1,415       1,312  
Utilities
    817       722  
Resort amenities and other
     450       352  
Total Operating Segment Revenues
  $ 2,794     $ 2,469  
Operating Segment Income (Loss)
                
Real estate
  $ (56 )   $ (196 )
Leasing
    883       762  
Utilities
    205       149  
Resort amenities and other
     237       71  
Total Operating Segment Income
   $ 1,269     $ 786