XML 20 R4.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME OR LOSS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues and other income:      
Sale of real estate and water assets $ 355,001 $ 282,681 $ 192,368
Impairment loss on investment in unconsolidated affiliate (2,170) (20,696) (1,078)
Other income, net 9,747 4,678 1,198
Total revenues and other income 362,578 266,663 192,488
Cost of sales and expenses:      
Cost of real estate and water assets sold 290,738 227,715 158,200
General, administrative, and other 61,537 45,780 51,457
Sales and marketing 19,798 18,824 13,662
Impairment loss on intangible and long-lived assets 7,012 3,282 13,084
Depreciation and amortization 1,496 2,212 3,054
Total costs and expenses 380,581 297,813 239,457
Loss from continuing operations before income taxes and equity in loss of unconsolidated affiliates (18,003) (31,150) (46,969)
Benefit for federal and state income taxes 6,351 2,961 3,514
Equity in loss of unconsolidated affiliate (3,422) (2,076)
Loss from continuing operations (11,652) (31,611) (45,531)
Income (loss) from discontinued agribusiness operations, net of tax 479 (30,539) (14,074)
Loss on sale of discontinued agribusiness operations, net of tax (1,856) (18,729)
Net loss from discontinued agribusiness operations, net of tax (1,377) (49,268) (14,074)
Net loss (13,029) (80,879) (59,605)
Net (income) loss attributable to noncontrolling interests (8,836) (979) 7,180
Net loss attributable to PICO Holdings, Inc. (21,865) (81,858) (52,425)
Other comprehensive loss, net of tax:      
Unrealized gain (loss) on securities, net of deferred income tax and reclassification adjustments 1,671 292 (2,093)
Foreign currency translation 29 (48) 6,578
Total other comprehensive income, net of tax 1,700 244 4,485
Comprehensive loss (11,329) (80,635) (55,120)
Comprehensive (income) loss attributable to noncontrolling interests (8,836) (979) 7,180
Comprehensive loss attributable to PICO Holdings, Inc. $ (20,165) $ (81,614) $ (47,940)
Net loss per common share – basic and diluted:      
Loss from continuing operations (USD per share) $ (0.89) $ (1.49) $ (1.76)
Loss from discontinued operations (USD per share) (0.06) (2.07) (0.54)
Net loss per common share - basic and diluted (in dollars per share) $ (0.95) $ (3.56) $ (2.30)
Weighted average shares outstanding (in shares) 23,054 23,014 22,802