XML 16 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Operations and Comprehensive Income or Loss - Unaudited - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues and other income:        
Sale of real estate and water assets $ 95,816 $ 77,044 $ 247,009 $ 175,718
Impairment loss on investment in unconsolidated affiliate   (20,696)
Other income, net 892 1,047 2,445 3,501
Total revenues and other income 96,708 78,091 249,454 158,523
Cost of sales and expenses:        
Cost of real estate and water assets sold 78,977 60,626 202,157 142,566
General, administrative, and other 10,098 10,168 34,867 33,661
Sales and marketing 4,963 4,818 14,061 13,373
Impairment loss on intangible and long-lived assets 4,615 727 7,012 2,090
Depreciation and amortization 302 653 1,193 1,649
Total cost of sales and expenses 98,955 76,992 259,290 193,339
Income (loss) from continuing operations before income taxes and equity in loss of unconsolidated affiliates (2,247) 1,099 (9,836) (34,816)
Benefit (provision) for federal and state income taxes 406 (22) 372 2,949
Equity in loss of unconsolidated affiliate (1,942) (3,422)
Loss from continuing operations (1,841) (865) (9,464) (35,289)
Loss from discontinued agribusiness operations, net of tax (18) (10,225) (102) (29,520)
Income (loss) on sale of discontinued agribusiness operations, net of tax 2 (1,348) (1,858) (18,251)
Net loss from discontinued agribusiness operations, net of tax (16) (11,573) (1,960) (47,771)
Net loss (1,857) (12,438) (11,424) (83,060)
Net (income) loss attributable to noncontrolling interests (1,043) (1,654) (1,676) 2,373
Net loss attributable to PICO Holdings, Inc. (2,900) (14,092) (13,100) (80,687)
Other comprehensive loss:        
Net loss (1,857) (12,438) (11,424) (83,060)
Unrealized gain on securities, net of deferred income tax and reclassification adjustments 954 12 1,484 295
Foreign currency translation 31 (48) 57 (85)
Total other comprehensive income (loss), net of tax 985 (36) 1,541 210
Comprehensive loss (872) (12,474) (9,883) (82,850)
Comprehensive (income) loss attributable to noncontrolling interests (1,043) (1,654) (1,676) 2,373
Comprehensive loss attributable to PICO Holdings, Inc. $ (1,915) $ (14,128) $ (11,559) $ (80,477)
Net loss per common share – basic and diluted:        
Loss from continuing operations ($ per share) $ (0.13) $ (0.11) $ (0.48) $ (1.51)
Loss from discontinued agribusiness operations ($ per share)   (0.50) (0.09) (2.00)
Net loss per common share – basic and diluted ($ per share) $ (0.13) $ (0.61) $ (0.57) $ (3.51)
Weighted average shares outstanding (number of shares) 23,068 23,017 23,049 23,010