Note 7 - Discontinued Operations

9 Months Ended

Sep. 30, 2014

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

7.     Discontinued Operations

The Company ceased operating the Kapalua Spa in June 2013 and the Kapalua Beach Club in September 2013 in connection with the foreclosure of the Residences at Kapalua Bay development project. In September 2011, the Company ceased all retail operations at the Kapalua Resort. In March 2011, the Company ceased operating 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 consolidated financial statements.

Revenues and income (loss) from discontinued operations were as follows:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2014			2013			2014			2013
	(in thousands)						(in thousands)
Revenues
Spa & Beach Club	$	-		$	14		$	-		$	1,289
Total	$	-		$	14		$	-		$	1,289
Income (loss) from Discontinued Operations
Spa & Beach Club	$	-		$	(61	)	$	-		$	(447	)
Retail		(2	)		6			(30	)		2
Agriculture		(26	)		(19	)		(79	)		2,151
Income Taxes		-			-			-			116
Total	$	(28	)	$	(74	)	$	(109	)	$	1,822

Income 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 that was the last of the Company’s former agricultural processing facilities in Central Maui. The sale proceeds were reflected under investing activities in the Company’s condensed consolidated statements of cash flows.