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Discontinued Agribusiness Operations (Tables)
 9 Months Ended
Sep. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures
The following table presents the details of the Company’s results from discontinued agribusiness operations included in the condensed consolidated statement of operations and comprehensive income or loss (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2015
 
2014
 
2015
 
2014
Revenue and other income:
 
 
 
 
 
 
 
Sales of canola oil and meal
$
9,600

 
$
41,144

 
$
82,267

 
$
124,963

Other
18

 
1,453

 
(50
)
 
2,417

Total revenue and other income
9,618

 
42,597

 
82,217

 
127,380

 
 
 
 
 
 
 
 
Cost of goods sold:
 
 
 
 
 
 
 
Cost of canola oil and meal sold
(8,738
)
 
(38,319
)
 
(79,763
)
 
(103,501
)
Depreciation
(18
)
 
(2,068
)
 
(4,360
)
 
(6,194
)
Other direct costs of production
(1,155
)
 
(2,828
)
 
(5,938
)
 
(8,581
)
Total cost of goods sold
(9,911
)
 
(43,215
)
 
(90,061
)
 
(118,276
)
 
 
 
 
 
 
 
 
Depreciation


 
(37
)
 
(95
)
 
(110
)
Impairment loss on intangible and long-lived assets


 


 
(1,875
)
 


Interest
(428
)
 
(1,312
)
 
(3,259
)
 
(3,964
)
Plant costs and overhead
(9,504
)
 
(3,254
)
 
(16,447
)
 
(9,992
)
Segment total expenses
(19,843
)
 
(47,818
)
 
(111,737
)
 
(132,342
)
Loss from discontinued agribusiness operations, net of tax
(10,225
)
 
(5,221
)
 
(29,520
)
 
(4,962
)
Loss on sale of discontinued agribusiness operations, net of tax (1)
(1,348
)
 


 
(18,251
)
 


Net loss from discontinued agribusiness operations, net of tax
(11,573
)
 
(5,221
)
 
(47,771
)
 
(4,962
)
Net (income) loss from discontinued agribusiness operations attributable to noncontrolling interests
(16
)
 
641

 
1,730

 
594

Net loss from discontinued agribusiness operations attributable to PICO Holdings, Inc.
$
(11,589
)
 
$
(4,580
)
 
$
(46,041
)
 
$
(4,368
)

(1) Included within the loss on sale of discontinued agribusiness operations, net of tax for the nine months ended September 30, 2015 is a $16.9 million impairment loss on classification of assets as held-for-sale, which was recorded during the second quarter of 2015.
The following table presents the details of the Company’s discontinued agribusiness assets and liabilities classified as held-for-sale in the condensed consolidated balance sheets (in thousands):
 
September 30, 2015
 
December 31, 2014
Assets
 
 
 
Cash and cash equivalents
$
1,773

 
$
301

Accounts receivable
10,756

 
3,311

Inventory


 
11,663

Real estate, net
1,276

 
5,889

Property, plant and equipment, net
223

 
116,793

Goodwill


 
4,702

Other assets


 
9,895

Total assets held-for-sale
$
14,028

 
$
152,554

 
 
 
 
Liabilities
 
 
 
Debt


 
$
84,045

Accounts payable and accrued expenses
$
1,041

 
8,186

Other liabilities
17

 
2,357

Total liabilities held-for-sale
$
1,058

 
$
94,588