XML 95 R45.htm IDEA: XBRL DOCUMENT v2.4.0.8
OPERATING SEGMENTS (Tables)
 9 Months Ended
Sep. 30, 2013
Segment Reporting [Abstract]  
Summarized Operating Segment Data
Summarized operating segment data are as follows (in thousands):
 
Real
Estate
 
Financial Fund Management
 
Commercial Finance
 
All Other (1)
 
Subtotal
 
RSO
 
Elims
 
Total
Three Months Ended September 30, 2013:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from external customers
$
15,973

 
$
7,065

 
$
—

 
$
—

 
$
23,038

 
$
23,786

 
$
(5,183
)
 
$
41,641

Equity in (losses) earnings of unconsolidated entities
(23
)
 
1,437

 
(30
)
 
—

 
1,384

 
—

 
—

 
1,384

Total revenues
15,950

 
8,502

 
(30
)
 
—

 
24,422

 
23,786

 
(5,183
)
 
43,025

Segment operating expenses
(11,178
)
 
(3,547
)
 
(75
)
 
—

 
(14,800
)
 
(15,554
)
 
4,861

 
(25,493
)
General and administrative expenses
(674
)
 
(282
)
 
—

 
(1,549
)
 
(2,505
)
 
—

 
—

 
(2,505
)
Provision for credit losses
(29
)
 
—

 
(1,779
)
 
—

 
(1,808
)
 
—

 
—

 
(1,808
)
Depreciation and amortization
(258
)
 
(13
)
 
—

 
(142
)
 
(413
)
 
—

 
—

 
(413
)
Interest expense
(209
)
 
(7
)
 
1

 
(315
)
 
(530
)
 
—

 
—

 
(530
)
Other income (expense), net
249

 
557

 
—

 
(122
)
 
684

 
16,607

 
(394
)
 
16,897

Pretax income attributable to noncontrolling interests (2)
(12
)
 
—

 
—

 
—

 
(12
)
 
(23,708
)
 
—

 
(23,720
)
Income (loss) from continuing operations excluding noncontrolling interests before taxes
$
3,839

 
$
5,210

 
$
(1,883
)
 
$
(2,128
)
 
$
5,038

 
$
1,131

 
$
(716
)
 
$
5,453


 
Real
Estate
 
Financial Fund Management
 
Commercial Finance
 
All Other (1)
 
Subtotal
 
RSO
 
Elims
 
Total
Nine Months Ended
September 30, 2013:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from external customers
$
39,777

 
$
12,129

 
$
—

 
$
—

 
$
51,906

 
$
76,011

 
$
(10,608
)
 
$
117,309

Equity in (losses) earnings of unconsolidated entities
(334
)
 
3,105

 
(243
)
 
—

 
2,528

 
—

 
—

 
2,528

Total revenues
39,443

 
15,234

 
(243
)
 
—

 
54,434

 
76,011

 
(10,608
)
 
119,837

Segment operating expenses
(29,514
)
 
(7,769
)
 
99

 
—

 
(37,184
)
 
(43,110
)
 
10,178

 
(70,116
)
General and administrative expenses
(2,893
)
 
(604
)
 
—

 
(3,310
)
 
(6,807
)
 
—

 
—

 
(6,807
)
Provision for credit losses
2,523

 
(199
)
 
(6,117
)
 
—

 
(3,793
)
 
—

 
—

 
(3,793
)
Depreciation and amortization
(805
)
 
(49
)
 
—

 
(464
)
 
(1,318
)
 
—

 
—

 
(1,318
)
Other-than-temporary impairment on investments
—

 
(214
)
 
—

 
—

 
(214
)
 
—

 
—

 
(214
)
Interest expense
(613
)
 
(7
)
 
—

 
(905
)
 
(1,525
)
 
—

 
—

 
(1,525
)
Other income (expense), net
719

 
1,704

 
7

 
(361
)
 
2,069

 
16,607

 
(1,445
)
 
17,231

Pretax income attributable to noncontrolling interests (2)
(23
)
 
—

 
—

 
—

 
(23
)
 
(44,394
)
 
—

 
(44,417
)
Income (loss) from continuing operations excluding noncontrolling interests before taxes
$
8,837

 
$
8,096

 
$
(6,254
)
 
$
(5,040
)
 
$
5,639

 
$
5,114

 
$
(1,875
)
 
$
8,878


 
Real
Estate
 
Financial Fund Management
 
Commercial Finance
 
All Other (1)
 
Subtotal
 
RSO
 
Elims
 
Total
Three Months Ended September 30, 2012:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Restated)
Revenues from external customers
$
9,135

 
$
5,136

 
$
(1
)
 
$
—

 
$
14,270

 
$
35,669

 
$
(4,988
)
 
$
44,951

Equity in earnings (losses) of unconsolidated entities
2,157

 
947

 
(166
)
 
—

 
2,938

 
—

 
—

 
2,938

Total revenues
11,292

 
6,083

 
(167
)
 
—

 
17,208

 
35,669

 
(4,988
)
 
47,889

Segment operating expenses
(7,684
)
 
(3,909
)
 
(103
)
 
—

 
(11,696
)
 
(13,230
)
 
4,950

 
(19,976
)
General and administrative expenses
(86
)
 
(602
)
 
—

 
(1,842
)
 
(2,530
)
 
—

 
—

 
(2,530
)
Provision for credit losses
(83
)
 
—

 
(6,253
)
 
—

 
(6,336
)
 
—

 
—

 
(6,336
)
Impairment charges
(2,280
)
 
—

 
—

 
—

 
(2,280
)
 
—

 
—

 
(2,280
)
Depreciation and amortization
(332
)
 
(23
)
 
—

 
(174
)
 
(529
)
 
—

 
—

 
(529
)
Reduction of gain on sale of subsidiary
—

 
(140
)
 
—

 
—

 
(140
)
 
—

 
—

 
(140
)
Interest expense
(215
)
 
—

 
(15
)
 
(314
)
 
(544
)
 
—

 
—

 
(544
)
Other income (expense), net
128

 
534

 
—

 
(105
)
 
557

 
—

 
(494
)
 
63

Pretax loss (income) attributable to noncontrolling interests (2)
36

 
—

 
—

 
—

 
36

 
(17,917
)
 
—

 
(17,881
)
Income (loss) from continuing operations excluding noncontrolling interests before taxes
$
776

 
$
1,943

 
$
(6,538
)
 
$
(2,435
)
 
$
(6,254
)
 
$
4,522

 
$
(532
)
 
$
(2,264
)


 
Real Estate
 
Financial Fund Management
 
Commercial Finance
 
All Other (1)
 
Subtotal
 
RSO
 
Elims
 
Total
Nine Months Ended September 30, 2012:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Restated)
Revenues from external customers
$
30,102

 
$
12,787

 
$
1

 
$
—

 
$
42,890

 
$
90,657

 
$
(12,733
)
 
$
120,814

Equity in earnings (losses) of unconsolidated entities
1,827

 
2,591

 
(1,536
)
 
—

 
2,882

 
—

 
—

 
2,882

Total revenues
31,929

 
15,378

 
(1,535
)
 
—

 
45,772

 
90,657

 
(12,733
)
 
123,696

Segment operating expenses
(22,477
)
 
(11,282
)
 
(451
)
 
—

 
(34,210
)
 
(39,752
)
 
12,589

 
(61,373
)
Restructuring expenses
—

 
—

 
—

 
(365
)
 
(365
)
 
—

 
—

 
(365
)
General and administrative expenses
(278
)
 
(1,814
)
 
—

 
(5,472
)
 
(7,564
)
 
—

 
—

 
(7,564
)
Provision for credit losses
(238
)
 
—

 
(14,758
)
 
—

 
(14,996
)
 
—

 
—

 
(14,996
)
Impairment charges
(2,280
)
 
—

 
—

 
—

 
(2,280
)
 
—

 
—

 
(2,280
)
Depreciation and amortization
(980
)
 
(89
)
 
—

 
(523
)
 
(1,592
)
 
—

 
—

 
(1,592
)
Gain on deconsolidation and sale of subsidiaries
—

 
54,542

 
—

 
—

 
54,542

 
—

 
—

 
54,542

Other-than-temporary impairment on investments
—

 
(74
)
 
—

 
—

 
(74
)
 
—

 
—

 
(74
)
Interest expense
(641
)
 
—

 
(58
)
 
(1,068
)
 
(1,767
)
 
—

 
—

 
(1,767
)
Other income (expense), net
405

 
1,527

 
—

 
(383
)
 
1,549

 
5,464

 
(1,442
)
 
5,571

Pretax loss (income) attributable to noncontrolling interests (2)
30

 
—

 
—

 
—

 
30

 
(47,892
)
 
—

 
(47,862
)
Income (loss) from continuing operations excluding noncontrolling interests before taxes
$
5,470

 
$
58,188

 
$
(16,802
)
 
$
(7,811
)
 
$
39,045

 
$
8,477

 
$
(1,586
)
 
$
45,936


 
Real Estate
 
Financial Fund Management
 
Commercial Finance
 
All 
Other (1)
 
Subtotal
 
RSO
 
Total
Segment assets
(Restated)

 
(Restated)

 
 

 
(Restated)

 
(Restated)

 
 
 
(Restated)
September 30, 2013
$
177,314

 
$
60,105

 
$
8,747

 
$
(74,123
)
 
$
172,043

 
$
2,271,468

 
$
2,443,511

September 30, 2012
169,649

 
60,805

 
15,497

 
(78,138
)
 
167,813

 
2,320,645

 
2,488,458

 
(1)
Includes general corporate expenses and assets not allocable to any particular segment.
(2)
In viewing its segment operations, management includes the pretax (income) loss attributable to noncontrolling interests.  However, these interests are excluded from income (loss) from operations as computed in accordance with U.S. GAAP and, accordingly, should be deducted to compute income (loss) from operations as reflected in the Company’s consolidated statements of operations.