Segment Information

3 Months Ended

Mar. 31, 2012

Segment Information [Abstract]

Segment Information

13. Segment Information

The Company's reportable operating segments are residential real estate, commercial real estate, rural land sales and forestry. The residential real estate segment primarily develops and sells homesites to builders. This segment also includes the Company's resort and club operations, the purpose of which is to enhance the desirability of the Company's residential real estate. The commercial real estate segment sells and leases developed and undeveloped lands. The rural land sales segment primarily sells parcels of land included in the Company's timberland holdings. The forestry segment produces and sells pine woodfiber, sawtimber and other forest products.

The Company uses (loss) income from continuing operations before equity in (loss) income of unconsolidated affiliates, income taxes and noncontrolling interest for purposes of making decisions about allocating resources to each segment and assessing each segment's performance, which the Company believes represents current performance measures.

The accounting policies of the segments are the same as those described above in the summary of significant accounting policies herein and in our Form 10-K. Total revenues represent sales to unaffiliated customers, as reported in the Company's consolidated statements of operations. All significant intercompany transactions have been eliminated. The caption entitled "Other" consists of corporate general and administrative expenses, net of investment income.

Information by business segment is as follows:

	Three Months Ended March 31,
	2012			2011
OPERATING REVENUES:
Residential real estate	$	10,520		$	7,765
Commercial real estate		6,220			297
Rural land sales		4,283			2,750
Forestry		9,495			62,624
Consolidated operating revenues	$	30,518		$	73,436
(Loss) Income from operations before equity in (loss) income of unconsolidated affiliates and income taxes:
Residential real estate	$	(3,799	)	$	(8,845	)
Commercial real estate		1,894			(1,866	)
Rural land sales		2,139			2,285
Forestry		2,761			52,744
Other		(3,217	)		(22,651	)
Consolidated (loss) income from operations before equity in (loss) income of unconsolidated affiliates and income taxes	$	(222	)	$	21,667

	March 31, 2012		December 31, 2011
TOTAL ASSETS:
Residential real estate	$	274,584	$	272,210
Commercial real estate		68,450		67,650
Rural land sales		8,482		10,048
Forestry		55,247		58,638
Other		256,107		252,745
Total Assets	$	662,870	$	661,291