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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues:      
Rental and other property revenues (including $726, $701 and $670 for the year ended 2015, 2014 and 2013, respectively, from related parties) $ 102,220 $ 75,858 $ 77,351
Expenses:      
Property operating expenses (including $740, $606 and $661 for the year ended 2015, 2014 and 2013, respectively, from related parties) 52,257 39,484 36,669
Depreciation and amortization 21,299 17,398 15,842
General and administrative (including $3,105, $2,802 and $2,765 for the year ended 2015, 2014 and 2013, respectively, from related parties) 5,508 7,163 6,308
Provision on impairment of notes receivable and real estate assets 5,300   11,320
Net income fee to related party 187 3,669 4,089
Advisory fee to related party 8,368 7,373 8,494
Total operating expenses 92,919 75,087 82,722
Net operating income (loss) 9,301 771 (5,371)
Other income (expense):      
Interest income (including $10,071, $11,469 and $13,823 for the year ended 2015, 2014 and 2013, respectively, from related parties) 10,687 12,194 13,790
Other income 71 403 7,847
Mortgage and loan interest (including $0, $31, and $1,761 for the year ended 2015, 2014 and 2013, respectively, from related parties) (41,586) (30,877) (32,276)
Loan charges and prepayment penalties (4,955) (2,804) (5,219)
Gain (loss) on the sale of investments (1) (92) (283)
Income (loss) from unconsolidated joint ventures and investees 41 (28) (172)
Litigation settlement (352) 3,591 (20,313)
Total other expenses (36,095) (17,613) (36,626)
Loss before gain (loss) on land sales, non-controlling interest, and taxes (26,794) (16,842) (41,997)
Gain (loss) on land sales 18,911 561 (1,073)
Net loss from continuing operations before taxes (7,883) (16,281) (43,070)
Income tax benefit (expense) (517) 20,390 40,949
Net income (loss) from continuing operations (8,400) 4,109 (2,121)
Discontinued operations:      
Net income (loss) from discontinued operations 644 (3,621) (2,589)
Gain on sale of real estate from discontinued operations 735 61,879 97,405
Income tax benefit (expense) from discontinued operations (483) (20,390) (33,186)
Net income (loss) from discontinued operations 896 37,868 61,630
Net income (loss) (7,504) 41,977 59,509
Net income (loss) attributable to non-controlling interest (132) (399) (979)
Net income (loss) attributable to Transcontinental Realty Investors, Inc. (7,636) 41,578 58,530
Preferred dividend requirement (900) (1,005) (1,110)
Net income (loss) applicable to common shares $ (8,536) $ 40,573 $ 57,420
Earnings per share - basic      
Net income (loss) from continuing operations (in dollars per share) $ (1.08) $ 0.32 $ (0.50)
Net income (loss) from discontinued operations (in dollars per share) 0.1 4.42 7.33
Net income (loss) applicable to common shares (in dollars per share) (0.98) 4.74 6.83
Earnings per share - diluted      
Net income (loss) from continuing operations (in dollars per share) (1.08) 0.32 (0.50)
Net income (loss) from discontinued operations (in dollars per share) 0.1 4.42 7.33
Net income (loss) applicable to common shares (in dollars per share) $ (0.98) $ 4.74 $ 6.83
Weighted average common shares used in computing earnings per share (in shares) 8,717,767 8,559,370 8,413,469
Weighted average common shares used in computing diluted earnings per share (in shares) 8,717,767 8,559,370 8,413,469
Amounts attributable to Transcontinental Realty Investors, Inc.      
Net income (loss) from continuing operations $ (8,532) $ 3,710 $ (3,100)
Net income (loss) from discontinued operations 896 37,868 61,630
Net income (loss) $ (7,636) $ 41,578 $ 58,530