CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income	$ 771	$ 417,441
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, depletion and amortization	7,281	6,213
Stock based compensation	150	210
(Gain) loss on sale of investments	(5,276)	833
Other-than-temporary impairment losses	0	1,295
Equity in loss in from unconsolidated affiliates	0	32
Deferred income tax	2,502	51,037
Cost of real estate sold	10,932	73,424
Expenditures for and acquisition of real estate to be sold	(5,445)	(6,059)
Notes receivable financed by the Company for operating properties sold	0	(19,600)
Timber Note	0	(200,000)
Deferred revenue	(64)	(13,562)
Accretion income and other	(1,658)	(1,530)
Changes in operating assets and liabilities:
Payments received on notes receivables	21,441	2,292
Other assets	883	(4,333)
Accounts payable and accrued liabilities	4,543	4,812
Income taxes	(469)	10,392
Net cash provided by operating activities	35,591	322,897
Cash flows from investing activities:
Expenditures for Pier Park North joint venture	(5,462)	(20,402)
Purchases of property and equipment	(2,287)	(1,869)
Purchases of investments	(239,740)	(634,754)
Maturities of investments	310,000	100,000
Sales of investments	322,847	83,239
Sales of restricted investments	877	0
Investment and maturities of assets held by special purpose entities	787	(6,921)
Contributions to unconsolidated affiliates	0	(148)
Net cash provided by (used in) investing activities	387,022	(480,855)
Cash flows from financing activities:
Repurchase of common shares	(304,924)	0
Borrowings on construction loan in Pier Park joint venture	6,007	22,477
Principal payments for long term debt	(324)	(571)
Issuance of Senior Notes by special purpose entity net of discount and issuance costs of $4.3 million for 2014	0	175,740
Net cash (used in) provided by financing activities	(299,241)	197,646
Net increase in cash and cash equivalents	123,372	39,688
Cash and cash equivalents at beginning of the period	34,515	21,894
Cash and cash equivalents at end of the period	157,887	61,582
Cash paid during the period for:
Interest expense	9,991	5,206
Income taxes	0	53,780
Non-cash financing and investing activities:
Increase (decrease) in Community Development District debt	586	(5,007)
Decrease in pledged treasury securities related to defeased debt	346	438
Expenditures for investing properties and property and equipment financed through accounts payable	1,394	5,289
Exchange of Timber Note for investments held by special purpose entity	0	200,000
Capital contributions to special purpose entity from non-controlling interest	$ 0	$ 3,492