DISCONTINUED AGRIBUSINESS OPERATIONS (Tables)

12 Months Ended

Dec. 31, 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 consolidated statement of operations and comprehensive income or loss (in thousands):



	2015			2014			2013
Revenue and other income:
Sales of canola oil and meal	$	82,267		$	163,855		$	184,139
Other revenue (loss):
Loss on trading derivatives	(159		)	(1,966		)
Other	126			519			509
Total revenue and other income	82,234			162,408			184,648

Cost of goods sold:
Cost of canola oil and meal sold	79,763			137,565			173,210
Depreciation	4,360			8,079			8,221
Other direct costs of production	5,938			11,024			9,269
Total cost of goods sold	90,061			156,668			190,700

Impairment loss on intangible and long-lived assets	1,875
Interest	3,259			5,536			5,746
Plant costs and overhead	17,578			14,278			11,467
Segment total expenses	112,773			176,482			207,913
Loss from discontinued agribusiness operations, net of tax	(30,539		)	(14,074		)	(23,265		)
Loss on sale of discontinued agribusiness operations, net of tax ⁽¹⁾	(18,729		)
Net loss from discontinued agribusiness operations, net of tax	(49,268		)	(14,074		)	(23,265		)
Net loss from discontinued agribusiness operations attributable to noncontrolling interests	1,720			1,718			2,905
Net loss from discontinued agribusiness operations attributable to PICO Holdings, Inc.	$	(47,548	)	$	(12,356	)	$	(20,360	)

⁽¹⁾ Included within the loss on sale of discontinued agribusiness operations, net of tax for the year ended December 31, 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):



	December 31, 2015		December 31, 2014
Assets
Cash and cash equivalents	$	938	$	301
Accounts receivable	7,800		3,311
Inventory			11,663
Real estate, net			5,889
Property, plant and equipment, net			116,793
Goodwill			4,702
Other assets	55		9,895
Total assets held-for-sale	$	8,793	$	152,554

Liabilities
Debt			$	84,045
Accounts payable and accrued expenses	$	608	8,186
Other liabilities			2,357
Total liabilities held-for-sale	$	608	$	94,588

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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