XML 46 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenues:        
Rental and other property revenues (including $164 and $0 for the three months and $499 and $0 for the nine months ended 2012 and 2011 respectively from related parties) $ 28,918 $ 29,109 $ 89,515 $ 85,589
Expenses:        
Property operating expenses (including $305 and $274 for the three months and $855 and $872 for the nine months ended 2012 and 2011 respectively from related parties) 16,045 15,990 47,132 46,657
Depreciation and amortization. 5,495 5,218 16,317 15,380
General and administrative (including $769 and $1,011 for the three months and $2,587 and $3,440 for the nine months ended 2012 and 2011 respectively from related parties) 1,546 3,641 5,052 10,556
Provision on impairment of notes receivable and real estate assets 0 0 0 5,622
Advisory fee to related party 2,215 3,241 7,573 10,225
Total operating expenses 25,301 28,090 76,074 88,440
Operating income (loss) 3,617 1,019 13,441 (2,851)
Other income (expense):        
Interest income (including $2,169 and $448 for the three months and $9,797 and $2,071 for the nine months ended 2012 and 2011 respectively from related parties) 2,280 1,039 10,342 2,910
Other income (including $1,500 and $0 for the three months and $4,500 and $0 for the nine months ended 2012 and 2011 respectively from related parties) 1,535 115 5,334 1,881
Mortgage and loan interest (including $903 and $48 for the three months and $2,756 and $1,628 for the nine months ended 2012 and 2011 respectively from related parties) (9,790) (13,813) (44,009) (43,710)
Loss on sale of investments 0 91 (361) 91
Earnings from unconsolidated subsidiaries and investees 134 (30) 284 (104)
Total other expenses (5,841) (12,598) (28,410) (38,932)
Loss before gain on land sales, non-controlling interest, and taxes (2,224) (11,579) (14,969) (41,783)
Gain (loss) on land sales 2,898 (942) 6,615 18,431
Income (loss) from continuing operations before tax 674 (12,521) (8,354) (23,352)
Income tax benefit (expense) (13) 2,815 2,535 5,166
Net income (loss) from continuing operations 661 (97,060) (5,819) (18,186)
Discontinued operations:        
Loss from discontinued operations (621) (212) (1,596) (5,312)
Gain on sale of real estate from discontinued operations 585 8,256 8,840 20,073
Income tax benefit (expense) from discontinued operations 13 (2,815) (2,535) (5,166)
Net income (loss) from discontinued operations (23) 5,229 4,709 9,595
Net income (loss) 638 (4,477) (1,110) (8,591)
Net (income) loss attributable to non-controlling interest (74) 4,830 37 14,175
Net income (loss) attributable to American Realty Investors, Inc. 564 353 (1,073) 5,584
Preferred dividend requirement (613) (613) (1,839) (1,843)
Net income (loss) applicable to common shares (49) (260) (2,912) 3,741
Earnings per share - basic        
Loss from continuing operations basic $ 0.00 $ (0.48) $ (0.66) $ (0.51)
Income from discontinued operations basic $ 0.00 $ 0.45 $ 0.41 $ 0.83
Net income (loss) applicable to common shares: $ 0.00 $ (0.03) $ (0.25) $ 0.32
Earnings per share - diluted        
Loss from continuing operations diluted $ 0.00 $ (0.48) $ (0.66) $ (0.51)
Income from discontinued operations diluted $ 0.00 $ 0.45 $ 0.41 $ 0.83
Net income (loss) applicable to common shares. $ 0.00 $ (0.03) $ (0.25) $ 0.32
Weighted average common share used in computing earnings per share 11,525,389 11,525,389 11,525,389 11,514,749
Weighted average common share used in computing diluted earnings per share 11,525,389 11,525,389 11,525,389 11,514,749
Amounts attributable to American Realty Investors, Inc.        
Loss from continuing operations (ARI) 587 (4,876) (5,782) (4,011)
Income (loss) from discontinued operations (ARI) (23) 5,229 4,709 9,595
Net income (loss) (ARI) $ 564 $ 353 $ (1,073) $ 5,584