Schedule IV (Consolidated) - Mortgage Loans on Real Estate

12 Months Ended

Dec. 31, 2020

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, 2020

(in thousands)

									Principal Amount
									of Loans Subject
			Periodic		Face		Carrying		to Delinquent
	Interest		Payment	Prior	Amount of		Amount of		Principal
Description (a)	Rate	Final Maturity Date	Terms	Liens	Mortgages		Mortgages		or Interest
Secured revolving promissory note with unconsolidated Latitude Margaritaville Watersound JV, homesite development	5.0%	June 2025	P&I(b)	—	$	2,742	$	2,714	$	—
Seller financing, residential homesites	5.5%	July 2022	P&I(c)	—		1,308		1,308		—
Seller financing, residential homesites	5.5%	November 2022	P&I(c)	—		1,111		1,111		—
Seller financing, residential homesites	5.5%	December 2022	P&I(c)	—		1,064		1,064		—
Seller financing, residential homesites	5.5%	November 2022	P&I(c)	—		940		940		—
Seller financing, residential homesites	5.5%	December 2022	P&I(c)	—		742		742		—
Seller financing, residential homesites	5.5%	June 2021	P&I(c)	—		637		637		—
Seller financing, residential homesites	5.5%	December 2021	P&I(c)	—		554		554		—
Seller financing, residential homesites	5.5%	September 2022	P&I(c)	—		532		532		—
Seller financing, residential homesites	5.5%	September 2022	P&I(c)	—		528		528		—
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)	—		63		63		—
Total(f)					$	10,349	$	10,321	$	128

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

(b) Principal and interest due at closing of each residential homesite to a third party. On the maturity date, all outstanding principal, all accrued interest and any other customary charges shall be due and payable in full. See Note 9. Other Assets for additional information related to the revolving promissory note.

(c) 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. The loan was settled in January 2021.

(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,
	2020		2019		2018
Balance at beginning of the year	$	2,683	$	1,462	$	2,995
Additions during the year - new mortgage loans		9,615		2,386		1,471
Deductions during the year:
Collections of principal		1,949		1,165		3,004
Foreclosures		—		—		—
Other		28		—		—
Balance at the end of the year	$	10,321	$	2,683	$	1,462