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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of income tax expense benefit

Current expense (benefit) is attributable to (dollars in thousands):

		2015				2014				2013
Income (loss) from continuing operations		$	517			$	(1,169	)		$	(24,217	)
Income (loss) from discontinued operations			483				1,169				17,415
The full 2013 tax (benefit) to ARL comes from MRHI		$	1,000			$	—			$	(6,802	)

Schedule of federal income tax expense

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 follows (dollars in thousands): 

		2015				2014				2013
Computed “expected” income tax (benefit) expense		$	1,465			$	14,061			$	15,684
Book to tax differences in gains on sale of property			(12,463	)			(2,350	)			(20,373	)
Book to tax differences from entities not consolidated for tax purposes			13,721				(23,900	)			(33,565	)
Book to tax differences of depreciation and amortization			(490	)			1,415				1,250
Valuation allowance against current net operating loss benefit			20,615				20,125				17,415
Other book to tax differences			(22,498	)			(9,351	)			17,208
Total		$	350			$	—			$	(2,381	)
Alternative minimum tax		$	—			$	—			$	—

Schedule of tax effects of temporary differences and net operating loss carry forwards that give rise to the deferred tax assets

The tax effects of temporary differences and net operating loss carry forwards that give rise to the deferred tax assets are presented below (amounts in thousands):

		2015				2014				2013
Net operating losses		$	67,112			$	74,357			$	88,486
AMT credits			2,751				2,201				2,201
Basis difference of:
Real estate holdings and equipment			(11,197	)			10,337				11,959
Notes receivable			6,475				6,946				7,448
Investments			(14,966	)			(14,950	)			(14,960	)
Notes payable			3,455				8,189				13,360
Deferred gains			19,868				18,086				18,746
Total		$	73,498			$	105,166			$	127,240
Deferred tax valuation allowance			(73,498	)			(105,166	)			(127,240	)
Net deferred tax asset		$	—			$	—			$	—

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: 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

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ 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

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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