New Valley LLC (Tables)

6 Months Ended

Jun. 30, 2012

New Valley LLC [Abstract]

Investments In non-consolidated real estate businesses

The components of “Investments in non-consolidated real estate businesses” were as follows:

	June 30, 2012		December 31, 2011
Douglas Elliman Realty LLC	$	57,453	$	53,970
New Valley Oaktree Chelsea Eleven LLC	—		6,320
Fifty Third-Five Building LLC	18,000		18,000
Sesto Holdings S.r.l.	5,037		5,037
1107 Broadway	5,489		5,489
Lofts 21 LLC	900		900
Hotel Taiwana	2,658		2,658
NV SOCAL LLC	24,624		25,095
HFZ East 68th Street	7,000		7,000
11 Beach Street Investor LLC	9,642		—
Investments in non-consolidated real estate businesses	$	130,803	$	124,469

Summarized financial information of Douglas Elliman Realty, LLC

The summarized financial information of Douglas Elliman Realty, LLC is as follows:

	June 30, 2012		December 31, 2011
Cash	$	63,939	$	57,450
Other current assets	5,506		3,293
Property, plant and equipment, net	15,162		14,595
Trademarks	21,663		21,663
Goodwill	38,506		38,742
Other intangible assets, net	1,020		827
Other non-current assets	3,738		3,096
Notes payable - current	417		602
Other current liabilities	19,002		18,734
Notes payable - long term	530		1,104
Other long-term liabilities	9,683		9,490
Members' equity	119,902		109,736

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2012		2011		2012		2011
Revenues	$	97,955	$	96,353	$	169,130	$	174,397
Costs and expenses	88,568		85,613		157,794		157,114
Depreciation expense	831		878		1,646		1,814
Amortization expense	61		63		121		126
Other income	490		410		1,232		1,387
Interest expense, net	9		42		32		83
Income tax expense	269		305		323		504
Net income	$	8,707	$	9,862	$	10,446	$	16,143

Investment in Escena

The components of the Company's investment in Escena are as follows:

	June 30, 2012			December 31, 2011
Land and land improvements	$	11,245		$	11,245
Building and building improvements	1,525			1,525
Other	1,294			1,208
	14,064			13,978
Less accumulated depreciation	(858		)	(698		)
	$	13,206		$	13,280