Discontinued Operations

9 Months Ended

Sep. 30, 2013

Discontinued Operations

Discontinued Operations

6. Discontinued Operations

In September 2011, the Company ceased all retail operations at the Kapalua Resort. In March 2011, the Company ceased operations of the two championship golf courses at the Kapalua Resort. In December 2009, the Company ceased all agriculture operations. Accordingly, the operating results including any gains or losses from the disposal of assets related to these former operations have been reported as discontinued operations in the accompanying condensed consolidated financial statements.

Income (loss) from discontinued operations for the nine months ended September 30, 2013 included a $1.9 million gain from the sale of a 7-acre parcel in Central Maui that was part of the Company’s former agricultural processing facilities and a $0.5 million reversal of accrued income taxes and related interest resulting from the Company’s settlement with the IRS.

Income (loss) before income taxes from discontinued operations were as follows:

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2013			2012		2013		2012
	(in thousands)					(in thousands)
Income (Loss) from Discontinued Operations
Retail	$	6		$	11	$	2	$	(14	)
Agriculture	(19		)	57		2,267		79
Total	$	(13	)	$	68	$	2,269	$	65