Land held for Divestiture (Tables)

11 Months Ended

Dec. 31, 2013

Land Held for Divestiture disclosures [Abstract]

Schedule of Land Held for Divestiture

The following table summarizes the net gain (loss) on land held for divestiture activity of consolidated entities:

	11 Months Ended			Years Ended
	December 31, 2013			January 31, 2013			January 31, 2012
	(in thousands)
Sales of land held for divestiture	$	1,941		$	74,150		$	—
Cost of sales of land held for divestiture	(323		)	(56,247		)	—
Gain on extinguishment of debt of land held for divestiture	—			4,373			—
Net gain on closed transactions of land held for divestiture	1,618			22,276			—
Bad debt expense	(9,000		)	—			—
Impairment of land held for divestiture	—			(15,796		)	(115,654		)
Net gain (loss) on land held for divestiture activity	$	(7,382	)	$	6,480		$	(115,654	)

Unobservable Inputs Used to Determine Fair Value of Impairment of Land Held for Divestiture

The following table presents quantitative information about the significant unobservable inputs used to determine the fair value of impairment of consolidated land held for divestiture for the year ended January 31, 2013:

	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value January 31, 2013		Valuation Technique	Unobservable Input	Range of Input Values
	(in thousands)
Impairment of land held for divestiture	$	15,663	Indicative bids	Indicative bids	N/A(1)
Impairment of land held for divestiture	$	926	Discounted cash flows(2)	N/A	N/A

(1) These fair value measurements were developed by third party sources, subject to the Company’s corroboration for reasonableness.

(2) The Company used a discounted cash flow technique to estimate fair value, however due to the estimated holding period being less than twelve months, the impact of discounting was deemed immaterial.

Schedule of Land Held for Divestiture Unconsolidated Entities

The Company also has investments held in unconsolidated entities. The following table summarizes the net gain (loss) on investments in unconsolidated entities which are part of the land divestiture strategy:

	11 Months Ended		Years Ended
	December 31, 2013		January 31, 2013			January 31, 2012
	(in thousands)
Net gain (loss) on sales of land held for divestiture of unconsolidated entities	$	1,338	$	(371	)	$	—
Impairment of investments in unconsolidated entities	—		(40,406		)	(41,902		)
Net gain (loss) on land held for divestiture activity of unconsolidated entities	$	1,338	$	(40,777	)	$	(41,902	)