Schedule III (Consolidated) - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2015

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]

SCHEDULE III (CONSOLIDATED) - REAL ESTATE AND ACCUMULATED DEPRECIATION

THE ST. JOE COMPANY

SCHEDULE III (CONSOLIDATED) - REAL ESTATE AND ACCUMULATED DEPRECIATION

DECEMBER 31, 2015

(in thousands)

			Initial Cost to Company							Gross Amount at December 31, 2015
Description	Encumbrances		Land & Improvements		Buildings & Improvements		Costs Capitalized Subsequent to Acquisition or Construction (1)			Land & Land Improvements		Buildings and Improvements		Total		Accumulated Depreciation		Date of Construction or Acquisition	Depreciation Life (In Years)
Residential development	$	3,016	$	43,153	$	—	$	56,260		$	99,413	$	—	$	99,413	$	—	n/a	n/a
Commercial development	3,944		47,745		—		9,202			56,947		—		56,947		42		n/a	n/a
Resorts and leisure
WaterColor Inn	—		1,202		14,000		5,497			1,558		19,140		20,698		7,558		2002	10 - 40
Clubs and golf courses	—		38,447		24,053		(4,058		)	34,863		23,579		58,442		24,868		2001 - 2007	10 - 25
Marinas	—		6,252		9,619		261			6,469		9,663		16,132		3,993		2006 - 2007	10 - 25
Other	—		—		32,925		(18,772		)	—		14,154		14,154		6,246		2008 - 2009	10 - 30
Commercial leasing
Pier Park North	48,200		2,641		—		45,807			13,632		34,816		48,448		2,581		2014 - 2015	15 - 40
Towncenters	—		777		30,904		(12,166		)	784		18,731		19,515		12,752		2001 - 2008	10 - 25
VentureCrossings	—		1,566		7,899		—			1,566		7,899		9,465		—		2012	10 - 25
Other	34		7,999		8,862		(7,176		)	7,129		2,596		9,725		3,983		through 2011	10 - 25
Timberlands	—		6,494		1,872		10,976			7,201		12,142		19,343		2,046		n/a	n/a
Unimproved land	—		—		—		5,386			5,386		—		5,386		—		n/a	n/a
Total	$	55,194	$	156,276	$	130,134	$	91,217		$	234,948	$	142,720	$	377,668	$	64,069

(1) Includes cumulative impairments.

Notes:

(A)	The aggregate cost of real estate owned at December 31, 2015 for federal income tax purposes is approximately $535 million.
(B)	Reconciliation of real estate owned (in thousands of dollars):

	2015			2014			2013
Balance at beginning of the year	$	379,944		$	436,264		$	418,197
Amounts capitalized	13,372			26,047			44,795
Impairments	—			—			(5,080		)
Cost of real estate sold	(14,584		)	(76,060		)	(22,022		)
Amounts retired or adjusted	(1,064		)	(6,307		)	374
Balance at the end of the year	$	377,668		$	379,944		$	436,264

(C)  Reconciliation of accumulated depreciation (in thousands of dollars):

	2015			2014			2013
Balance at beginning of the year	$	58,132		$	53,496		$	49,772
Depreciation expense	6,689			6,170			6,547
Amounts retired or adjusted	(752		)	(1,534		)	(2,823		)
Balance at the end of the year	$	64,069		$	58,132		$	53,496