Segment Information (Tables)

12 Months Ended

Dec. 31, 2012

Information by Business Segment

Information by business segment is as follows:

	2012			2011			2010
OPERATING REVENUES:
Residential real estate	$	22,115		$	12,595		$	8,960
Commercial real estate		10,400			3,778			4,416
Resorts, leisure and leasing operations		44,407			38,239			31,448
Rural land		23,413			3,472			24,430
Forestry		38,977			86,703			28,841
Other		84			498			1,445
Consolidated operating revenues	$	139,396		$	145,285		$	99,540
DEPRECIATION, DEPLETION AND AMORTIZATION:
Residential real estate	$	1,802		$	2,457		$	2,883
Commercial real estate		308			302			—
Resorts, leisure and leasing operations		5,714			6,924			7,158
Rural land		11			20			32
Forestry		2,105			4,950			2,099
Other		170			1,187			1,485
Consolidated depreciation, depletion and amortization	$	10,110		$	15,840		$	13,657
INVESTMENT INCOME, NET
Residential real estate	$	45		$	63		$	116
Other reportable segments		23			39			712
Corporate		1,151			1,028			642
Consolidated investment income, net	$	1,219		$	1,130		$	1,470
INTEREST EXPENSE
Residential real estate	$	2,802		$	3,555		$	7,815
Commercial and other		18			366			797
Consolidated interest expense	$	2,820		$	3,921		$	8,612
EQUITY IN LOSS FROM UNCONSOLIDATED AFFILIATES
Resorts, leisure and leasing operations	$	(46	)	$	(93	)	$	(4,308	)
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN LOSS FROM UNCONSOLIDATED AFFILIATES AND INCOME TAXES:
Residential real estate(a)	$	(6,772	)	$	(355,080	)	$	(37,933	)
Commercial real estate(b)		(271	)		(42,516	)		(1,813	)
Resorts, leisure and leasing operations(c)		(1,414	)		(8,020	)		(9,174	)
Rural land(d)		16,791			2,158			20,920
Forestry		13,475			59,092			6,437
Other(e)		(15,386	)		(41,507	)		(33,883	)
Consolidated income (loss) from operations before equity in loss from unconsolidated affiliates and income taxes	$	6,423		$	(385,873	)	$	(55,446	)

(a) Includes impairment losses of $337.6 million and $4.8 million in 2011 and 2010, respectively.

(b) Includes impairment losses of $38.2 million in 2011.

(c) Includes impairment losses of $2.6 million and $1.4 million in 2012 and 2011, respectively.

(d) Includes impairment losses of $0.1 million in 2011.

(e) Includes pension charges of $2.1 million, $5.9 million and $4.1 million in 2012, 2011 and 2010, respectively.

	2012		2011		2010
CAPITAL EXPENDITURES:
Residential real estate	$	7,679	$	12,023	$	6,825
Commercial real estate		3,829		11,833		7,002
Resorts, leisure and leasing operations		9,023		4,007		1,340
Forestry		2,701		2,766		785
Other		163		93		112
Total capital expenditures	$	23,395	$	30,722	$	16,064

	December 31, 2012		December 31, 2011
TOTAL ASSETS:
Residential real estate	$	141,526	$	166,201
Commercial real estate		64,961		73,520
Resorts, leisure and leasing operations(f)		124,886		100,396
Rural land		6,219		7,885
Forestry		54,549		58,638
Other		253,380		254,651
Total assets	$	645,521	$	661,291

(f) Includes $2.2 million and $2.3 million of investment in equity method investees at December 31, 2012 and 2011, respectively.