Schedule IV (Consolidated) - Mortgage Loans on Real Estate

12 Months Ended

Dec. 31, 2019

Mortgage Loans on Real Estate [Abstract]

SCHEDULE IV (CONSOLIDATED) - MORTGAGE LOANS ON REAL ESTATE

THE ST. JOE COMPANY

SCHEDULE IV (CONSOLIDATED) - MORTGAGE LOANS ON REAL ESTATE

DECEMBER 31, 2019

(in thousands)

										Principal Amount of
			Periodic		Face		Carrying			Loans Subject to
			Payment		Amount of		Amount of			Delinquent Principal
Description (a)	Interest Rate	Final Maturity Date	Terms	Prior Liens	Mortgages		Mortgages			or Interest
Seller financing, residential homesites	5.5%	June 2021	P&I(b)	—	$	1,514	$	1,514	$	—
Seller financing, residential homesites	5.5%	December 2021	P&I(b)	—		872		872		—
Seller financing, residential homesites	5.5%	June 2020	P&I(c)	—		84		84		—
Seller financing, residential homesites	6.3%	March 2020	P&I(d)	—		128		128		128
Various other seller financing, rural land	6.4% to 6.5%	December 2022 through November 2023	P&I(e)	—		85		85		—
Total(f)					$	2,683	$	2,683	$	128

(a) All seller financed properties are located in Northwest Florida.

(b) Interest is paid quarterly over a twenty year amortization schedule. On the maturity date, all outstanding principal, all accrued interest and any other customary charges shall be due and payable in full.

(c) Annual principal payment of $0.1 million due and interest is paid quarterly over a twenty year amortization schedule. On the maturity date, all outstanding principal, all accrued interest and any other customary charges shall be due and payable in full.

(d) Annual principal payment of $0.1 million due and interest is accrued over a twenty year amortization schedule. On the maturity date, all outstanding principal, all accrued interest and any other customary charges shall be due and payable in full.

(e) Principal and interest is paid monthly.

(f) The aggregate cost for federal income tax purposes approximates the amount of unpaid principal.

The summarized changes in the carrying amount of mortgage loans are as follows:

	December 31,		December 31,		December 31,
	2019		2018		2017
Balance at beginning of the year	$	1,462	$	2,995	$	242
Additions during the year - new mortgage loans		2,386		1,471		2,821
Deductions during the year:
Collections of principal		1,165		3,004		68
Foreclosures		—		—		—
Balance at the end of the year	$	2,683	$	1,462	$	2,995