Schedule III (Consolidated) - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2020

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, 2020

(in thousands)

			Initial Cost to Company (b)						Gross Amount at December 31, 2020
							Costs Capitalized
							Subsequent to								Accumulated		Date of	Depreciation
			Land &		Buildings &		Acquisition or		Land & Land		Buildings and				Depreciation and		Construction or	Life
Description (a)	Encumbrances		Improvements		Improvements		Construction (c)		Improvements		Improvements		Total		Amortization		Acquisition	(In Years)
Residential developments	$	1,976	$	42,248	$	14,846	$	73,071	$	122,826	$	7,339	$	130,165	$	4,744	through 2020	5 - 25
Hospitality
WaterColor Hospitality		—		1,137		13,688		11,387		2,216		23,996		26,212		11,194	2002, 2013, 2018 - 2020	5 - 40
Pier Park Hospitality		—		1,438		—		9,543		10,981		—		10,981		—	2019 - 2020	N/A
30A Hospitality		—		2,143		—		1,580		3,723		—		3,723		—	2020	N/A
Airport Hospitality		3,548		—		—		13,424		13,424				13,424		—	2019 - 2020	N/A
Breakfast Point Hospitality		—		—		—		5,848		5,848		—		5,848		—	2020	N/A
The Clubs by JOE		—		34,648		20,132		10,477		46,372		18,885		65,257		23,214	2001 - 2007, 2018 - 2020	10 - 25
Marinas		—		5,350		2,546		4,097		9,438		2,555		11,993		1,723	2006 - 2007, 2019 - 2020	15 - 25
Other		4,047		1,558		12,374		3,430		4,898		12,464		17,362		2,443	2008 - 2009, 2019 - 2020	5 - 39
Commercial
Leasing properties:
Pier Park North		44,568		13,711		35,243		3,115		13,711		38,358		52,069		11,086	2014 - 2017	15 - 39
Town centers		—		—		12,278		1,965		335		13,908		14,243		10,374	2001 - 2008	10 - 25
VentureCrossings		—		6,419		29,824		(2,032)		4,937		29,274		34,211		5,428	2012, 2017, 2019	10 - 39
Watersound Origins Crossings		27,179		739		3,457		29,129		29,868		3,457		33,325		—	2019 - 2020	N/A
Pier Park Crossings		36,084		8,228		27,820		—		8,228		27,820		36,048		1,396	2018 - 2020	7 - 39
Pier Park Crossings Phase II		15,921		3,528		15,389		158		3,686		15,389		19,075		46	2019 - 2020	7 - 39
Watercrest		18,066		894		—		27,266		28,160		—		28,160		—	2019 - 2020	N/A
Self-Storage		—		440		—		2,754		3,194		—		3,194		—	2020	N/A
Beckrich		5,421		2,200		13,298		183		2,223		13,458		15,681		741	2017 - 2020	5 - 39
Watersound Origins		—		1,216		1,835		40		1,256		1,835		3,091		102	2018 - 2020	15 - 25
Other		2,792		4,674		12,122		436		4,717		12,515		17,232		1,403	through 2020	10 - 39
Commercial developments		1,816		35,702		—		24,347		60,049		—		60,049		35	through 2020	5
Timberlands		—		6,571		1,758		13,254		19,825		1,758		21,583		1,986	n/a	5 - 30
Corporate and other		—		—		—		2,820		2,736		84		2,820		45	through 2020	5 - 20
Unimproved land		—		85		—		1,782		1,867		—		1,867		—	n/a	N/A
Total	$	161,418	$	172,929	$	216,610	$	238,074	$	404,518	$	223,095	$	627,613	$	75,960

(a) Substantially all real estate properties are located in Northwest Florida.

(b) Includes initial costs to the Company to place the assets in service.

(c) Includes cumulative impairments.

Notes:

(A) The aggregate cost of real estate owned at December 31, 2020 for federal income tax purposes is approximately $590.3 million.

(B) Reconciliation of real estate owned (in thousands of dollars):

	December 31,		December 31,		December 31,
	2020		2019		2018
Balance at beginning of the year	$	505,032	$	418,494	$	404,376
Amounts capitalized		167,258		109,699		43,306
Impairments		—		—		(99)
Cost of real estate sold		(33,324)		(23,608)		(18,347)
Amounts retired or adjusted		(11,353)		447		(10,742)
Balance at the end of the year	$	627,613	$	505,032	$	418,494

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

	December 31,		December 31,		December 31,
	2020		2019		2018
Balance at beginning of the year	$	74,256	$	67,500	$	71,752
Depreciation expense		8,298		6,756		6,018
Amounts retired or adjusted		(6,594)		—		(10,270)
Balance at the end of the year	$	75,960	$	74,256	$	67,500