XML 21 R24.htm IDEA: XBRL DOCUMENT

OPERATING SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2012

OPERATING SEGMENTS (Tables)

OPERATING SEGMENTS

Presented below is the operating segment information for the three and six months ended June 30, 2012 and 2011 (dollars in thousands):

For the Three Months Ended June 30, 2012		Land				Other				Total
Operating revenue		$	-			$	-			$	-
Operating expenses			-				14				14
Depreciation and amortization			-				-				-
Mortgage and loan interest			277				-				277
Interest income			-				1,713				1,713
Gain on land sales			-				-				-
Segment operating income (loss)		$	(277	)		$	1,699			$	1,422
Capital expenditures			-				-				-
Assets			24,511				-				24,511


For the Three Months Ended June 30, 2011		Land				Other				Total
Operating revenue		$	-			$	-			$	-
Operating expenses			-				3				3
Depreciation and amortization			-				-				-
Mortgage and loan interest			365				-				365
Interest income			-				723				723
Gain on land sales			-				-				-
Segment operating income (loss)		$	(365	)		$	720			$	355
Capital expenditures			-				-				-
Assets			28,087				-				28,087

SEGMENT INFORMATION STATEMENT OF OPERATIONS

The table below reconciles the segment information to the corresponding amounts in the Statements of Operations:

		For Three Months Ended
		June 30,
		2012				2011
Segment operating income		$	1,422			$	355
Other non-segment items of income (expense)
General and administrative			(207	)			(182	)
Advisory fee			(205	)			(211	)
Equity in earnings of investees			(12	)			(50	)
Income tax expense			-				(503	)
Income (loss) from continuing operations		$	998			$	(591	)

SEGEMENT ASSETS TO TOTAL ASSETS

The table below reconciles the segment assets to total assets:

		June 30,
		2012				2011
Segment assets		$	24,511			$	28,087
Investments in real estate partnerships			14				39
Other assets and receivables			84,971				88,506
Total assets		$	109,496			$	116,632

OPERATING SEGMENTS SIX MONTHS ENDED

For the Six Months Ended June 30, 2012		Land				Other				Total
Operating revenue		$	-			$	-			$	-
Operating expenses			31				14				45
Depreciation and amortization			-				-				-
Mortgage and loan interest			552				-				552
Interest income			-				2,896				2,896
Gain on land sales			-				-				-
Segment operating income (loss)		$	(583	)		$	2,882			$	2,299
Capital expenditures			-				-				-
Assets			24,511				-				24,511


For the Six Months Ended June 30, 2011		Land				Other				Total
Operating revenue		$	-			$	-			$	-
Operating expenses			4				7				11
Depreciation and amortization			-				-				-
Mortgage and loan interest			646				-				646
Interest income			-				1,017				1,017
Gain on land sales			-				-				-
Segment operating income (loss)		$	(650	)		$	1,010			$	360
Capital expenditures			-				-				-
Assets			28,087				-				28,087

SEGMENT INFORMATION STATEMENTS OF OPERATIONS SIX MONTHS ENDED

The table below reconciles the segment information to the corresponding amounts in the Statements of Operations:

		For Six Months Ended
		June 30,
		2012				2011
Segment operating income		$	2,299			$	360
Other non-segment items of income (expense)
General and administrative			(360	)			(276	)
Advisory fee			(402	)			(431	)
Equity in earnings of investees			(23	)			(50	)
Income tax expense			(3	)			(502	)
Income (loss) from continuing operations		$	1,511			$	(899	)

The table below reconciles the segment assets to total assets:		June 30,
		2012				2011
Segment assets		$	24,511			$	28,087
Investments in real estate partnerships			14				39
Other assets and receivables			84,971				88,506
Total assets		$	109,496			$	116,632