Investment And Development Property

12 Months Ended

Dec. 31, 2014

Investment And Development Property [Abstract]

Note 7 – Investment and Development Property

Investment and development property is summarized as follows (dollars in thousands):



		December 31,
Investment and Development Property		2014		2013
Land	$	23,833	$	59,550
Construction-in-progress (including capitalized interest)		2,291		14,680
Investment and development property, net	$	26,124	$	74,230

During the year-ended December 31, 2009, we decided to curtail our current development progress on certain Australian and New Zealand land development projects. As a result, we did not capitalize interest on these projects during 2014, 2013, and 2012 and we will not capitalize interest for these projects until development work recommences.

During 2014, our Burwood property was transferred to Held for Sale as an outcome of our successful sale transaction, which has not been treated as a sale, under U.S. GAAP.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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