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Income Taxes | 12 Months Ended
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Dec. 31, 2011
Income Taxes [Abstract] |
Income Taxes |
NOTE 12. | INCOME TAXES
During 2009, ARL's subsidiary TCI acquired stock of Income Opportunity Realty Investors, Inc. (IOT), such that more than 80% of IOT was owned by TCI. As a result, IOT joined the ARL consolidated group and joined a Tax Sharing and Compensating Agreement with TCI and ARL governing the use of current losses to offset taxable income. There was no deferred tax expense (benefit) recorded for 2011, 2010 or 2009 as a result of the uncertainty of the future use of the deferred tax asset. The Federal income tax expense differs from the amount computed by applying the corporate tax rate of 35% to the income before income taxes as follow
|  | 2011 |  |  | 2010 |  |  | 2009 |
Computed "expected" income tax (benefit) expense |  | $ | (2,556 | ) |  | $ | (34,368 | ) |  | $ | (24,549 | )
Book to tax differences in gains on sale of property |  |  | 2,184 |  |  |  | 419 |  |  |  | (12,767 | )
Book to tax differences from entities not consolidated for tax purposes |  |  | (3,228 | ) |  |  | (3,638 | ) |  |  | 9,786 |
Book to tax differences of depreciation and amortization |  |  | 1,556 |  |  |  | 1,871 |  |  |  | 1,607 |
Valuation allowance against current net operating loss benefit |  |  | 9,283 |  |  |  | 51,685 |  |  |  | 12,749 |
Other book to tax differences |  |  | (7,239 | ) |  |  | (15,969 | ) |  |  | 13,174 |
|  | $ | — |  |  | $ | — |  |  | $ | — |
Alternative Minimum Tax |  | $ | — |  |  | $ | — |  |  | $ | — |
The tax effect of temporary differences that give rise to the deferred tax asset are as follows:
|  | 2011 |  |  | 2010 |  |  | 2009 |
Net operating losses and tax credits |  | $ | 68,968 |  |  | $ | 82,398 |  |  | $ | 75,043 |
Basis difference of |  |  |  |  |  |  |  |  |  |  |  |
Real estate holdings and equipment |  |  | (2,500 | ) |  |  | (54,602 | ) |  |  | (50,020 | )
Notes receivable |  |  | 5,314 |  |  |  | 10,329 |  |  |  | 9,550 |
Investments |  |  | (14,660 | ) |  |  | (14,462 | ) |  |  | (14,544 | )
Notes payable |  |  | 25,299 |  |  |  | 56,208 |  |  |  | 56,410 |
Deferred gains |  |  | 28,181 |  |  |  | 41,312 |  |  |  | 34,553 |
Total |  | $ | 110,602 |  |  | $ | 121,183 |  |  | $ | 110,992 |
Deferred tax valuation allowance |  |  | (110,602 | ) |  |  | (121,183 | ) |  |  | (110,992 | )
Net deferred tax asset |  | $ | — |  |  | $ | — |  |  | $ | — |
At December 31, 2011, 2010 and 2009 ARL had a net deferred tax asset due to tax deductions available to it in future years. However, as management could not determine that it was more likely than not that ARL would realize the benefit of the deferred tax asset, a 100% valuation allowance was established. ARL has prior tax net operating losses and capital loss carryforwards of approximately $64.3 million expiring through the year 2030.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 136, 172 -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. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 109 -Paragraph 43, 44, 45, 46, 47, 48, 49 -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. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 + Details
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