CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:
Net income	$ 417,597	$ 221
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, depletion and amortization	4,039	4,660
Stock based compensation	160	247
Loss on sale of investments	833	0
Equity in loss in from unconsolidated affiliates	21	27
Deferred income tax expense	51,022	5
Cost of operating properties sold	71,623	7,948
Expenditures for operating properties	(3,505)	(11,207)
Notes receivable financed by the Company for operating properties sold	(19,600)	(1,184)
Timber Note	(200,000)	0
Deferred revenue	(13,432)	0
Accretion income	(818)	(382)
Other, net	52	81
Changes in operating assets and liabilities:
Payments received on notes receivable	1,519	25
Other assets	(5,078)	(2,058)
Accounts payable and accrued liabilities	7,576	10,627
Income taxes payable	28,594	0
Net cash provided by operating activities	340,603	9,010
Cash flows from investing activities:
Expenditures for Pier Park North joint venture	(12,973)	(4,933)
Purchases of property and equipment	(1,509)	(1,889)
Purchases of investments	(549,535)	(115,410)
Maturities of investments	60,000	0
Sales of investments	8,239	0
Investment in assets held by special purpose entities	(6,921)	0
Contributions to unconsolidated affiliates	(148)	0
Net cash used in investing activities	(502,847)	(122,232)
Cash flows from financing activities:
Borrowings on construction loan in Pier Park joint venture	15,971	0
Contribution to Pier Park North joint venture from non-controlling interest	0	1,743
Principal payments for long term debt	(478)	(285)
Issuance of Senior Notes by special purpose entity net of discount and issuance costs of $4.3 million for 2014	175,740	0
Reduction in excise tax benefits related to stock based compensation	0	(8)
Taxes paid on behalf of employees related to stock based compensation	0	(25)
Net cash provided by financing activities	191,233	1,425
Net increase (decrease) in cash and cash equivalents	28,989	(111,797)
Cash and cash equivalents at beginning of the period	21,894	165,980
Cash and cash equivalents at end of the period	50,883	54,183
Cash paid during the period for:
Interest expense	967	1,467
Income taxes	35,979	3
Capitalized interest	129	0
Non-cash financing and investment activities:
Net (decrease) increase in Community Development District debt	(5,164)	2,706
Decrease in pledged treasury securities related to defeased debt	293	277
Expenditures for operating properties and property and equipment financed through accounts payable	825	463
Exchange of Timber Note for investments held by special purpose entity	200,000	0
Capital contributions to special purpose entity from non-controlling interest	3,492	0
Settlement of note receivable	$ 0	$ 312