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OPERATING SEGMENTS
 6 Months Ended
Jun. 30, 2013
Segment Reporting [Abstract]  
OPERATING SEGMENTS
OPERATING SEGMENTS
The Company manages its operations and makes business decisions based on three reportable operating segments, Real Estate, Financial Fund Management and Commercial Finance, and one segment, RSO, which is a consolidated VIE.  Certain other activities are reported in the “All Other” category and Eliminations ("Elims") in the tables in order for the information presented about the Company's operating segments to agree to the consolidated balance sheets and statements of operations. Summarized operating segment data are as follows (in thousands):
(Restated)
Real
Estate
 
Financial Fund Management
 
Commercial Finance
 
All Other (1)
 
Subtotal
 
RSO
 
Elims
 
Total
Three Months Ended
June 30, 2013:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from external customers
$
12,484

 
$
2,196

 
$
—

 
$
—

 
$
14,680

 
$
21,647

 
$
(2,725
)
 
$
33,602

Equity in (losses) earnings of unconsolidated entities
(331
)
 
249

 
(35
)
 
—

 
(117
)
 
—

 
—

 
(117
)
Total revenues
12,153

 
2,445

 
(35
)
 
—

 
14,563

 
21,647

 
(2,725
)
 
33,485

Segment operating expenses
(8,896
)
 
(1,694
)
 
219

 
—

 
(10,371
)
 
(11,368
)
 
2,663

 
(19,076
)
General and administrative expenses
(815
)
 
(331
)
 
—

 
(1,003
)
 
(2,149
)
 
—

 
—

 
(2,149
)
Provision for credit losses
30

 
(199
)
 
(1,478
)
 
—

 
(1,647
)
 
—

 
—

 
(1,647
)
Depreciation and amortization
(317
)
 
(16
)
 
—

 
(156
)
 
(489
)
 
—

 
—

 
(489
)
Interest expense
(207
)
 
—

 
—

 
(294
)
 
(501
)
 
—

 
—

 
(501
)
Other income (expense), net
173

 
558

 
1

 
(92
)
 
640

 
—

 
(526
)
 
114

Pretax income attributable to noncontrolling interests (2)
(54
)
 
—

 
—

 
—

 
(54
)
 
(8,372
)
 
—

 
(8,426
)
Income (loss) from continuing operations excluding noncontrolling interests before taxes
$
2,067

 
$
763

 
$
(1,293
)
 
$
(1,545
)
 
$
(8
)
 
$
1,907

 
$
(588
)
 
$
1,311


(Restated)
Real
Estate
 
Financial Fund Management
 
Commercial Finance
 
All Other (1)
 
Subtotal
 
RSO
 
Elims
 
Total
Six Months Ended
June 30, 2013:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from external customers
$
23,804

 
$
5,064

 
$
—

 
$
—

 
$
28,868

 
$
52,225

 
$
(5,425
)
 
$
75,668

Equity in (losses) earnings of unconsolidated entities
(311
)
 
1,668

 
(213
)
 
—

 
1,144

 
—

 
—

 
1,144

Total revenues
23,493

 
6,732

 
(213
)
 
—

 
30,012

 
52,225

 
(5,425
)
 
76,812

Segment operating expenses
(18,336
)
 
(4,222
)
 
174

 
—

 
(22,384
)
 
(27,556
)
 
5,317

 
(44,623
)
General and administrative expenses
(2,219
)
 
(322
)
 
—

 
(1,761
)
 
(4,302
)
 
—

 
—

 
(4,302
)
Provision for credit losses
2,552

 
(199
)
 
(4,338
)
 
—

 
(1,985
)
 
—

 
—

 
(1,985
)
Depreciation and amortization
(547
)
 
(36
)
 
—

 
(322
)
 
(905
)
 
—

 
—

 
(905
)
Other-than-temporary impairment on investments
—

 
(214
)
 
—

 
—

 
(214
)
 
—

 
—

 
(214
)
Interest expense
(404
)
 
—

 
(1
)
 
(590
)
 
(995
)
 
—

 
—

 
(995
)
Other income (expense), net
470

 
1,147

 
7

 
(239
)
 
1,385

 
—

 
(1,051
)
 
334

Pretax income attributable to noncontrolling interests (2)
(11
)
 
—

 
—

 
—

 
(11
)
 
(20,686
)
 
—

 
(20,697
)
Income (loss) from continuing operations excluding noncontrolling interests before taxes
$
4,998

 
$
2,886

 
$
(4,371
)
 
$
(2,912
)
 
$
601

 
$
3,983

 
$
(1,159
)
 
$
3,425


(Restated)
Real
Estate
 
Financial Fund Management
 
Commercial Finance
 
All Other (1)
 
Subtotal
 
RSO
 
Elims
 
Total
Three Months Ended
June 30, 2012:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Restated)
Revenues from external customers
$
11,286

 
$
2,223

 
$
2

 
$
—

 
$
13,511

 
$
26,262

 
$
(4,235
)
 
$
35,538

Equity in earnings (losses) of unconsolidated entities
(365
)
 
768

 
(130
)
 
—

 
273

 
—

 
—

 
273

Total revenues
10,921

 
2,991

 
(128
)
 
—

 
13,784

 
26,262

 
(4,235
)
 
35,811

Segment operating expenses
(7,386
)
 
(2,994
)
 
(118
)
 
—

 
(10,498
)
 
(14,892
)
 
4,182

 
(21,208
)
General and administrative expenses
(98
)
 
(608
)
 
—

 
(1,861
)
 
(2,567
)
 
—

 
—

 
(2,567
)
Provision for credit losses
(52
)
 
—

 
(5,646
)
 
—

 
(5,698
)
 
—

 
—

 
(5,698
)
Depreciation and amortization
(324
)
 
(29
)
 
—

 
(175
)
 
(528
)
 
—

 
—

 
(528
)
Reduction of gain on sale of subsidiary
—

 
54,682

 
—

 
—

 
54,682

 
—

 
—

 
54,682

Interest expense
(213
)
 
—

 
(7
)
 
(358
)
 
(578
)
 
—

 
—

 
(578
)
Other income (expense), net
148

 
455

 
—

 
(241
)
 
362

 
5,464

 
(476
)
 
5,350

Pretax loss (income) attributable to noncontrolling interests (2)
(45
)
 
—

 
—

 
—

 
(45
)
 
(15,945
)
 
—

 
(15,990
)
Income (loss) from continuing operations excluding noncontrolling interests before taxes
$
2,951

 
$
54,497

 
$
(5,899
)
 
$
(2,635
)
 
$
48,914

 
$
889

 
$
(529
)
 
$
49,274



(Restated)
Real Estate
 
Financial Fund Management
 
Commercial Finance
 
All Other (1)
 
Subtotal
 
RSO
 
Elims
 
Total
Six Months Ended
June 30, 2012:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from external customers
$
20,967

 
$
7,651

 
$
2

 
$
—

 
$
28,620

 
$
54,988

 
$
(7,745
)
 
$
75,863

Equity in earnings (losses) of unconsolidated entities
(330
)
 
1,644

 
(1,370
)
 
—

 
(56
)
 
—

 
—

 
(56
)
Total revenues
20,637

 
9,295

 
(1,368
)
 
—

 
28,564

 
54,988

 
(7,745
)
 
75,807

Segment operating expenses
(14,793
)
 
(7,373
)
 
(348
)
 
—

 
(22,514
)
 
(26,522
)
 
7,639

 
(41,397
)
Restructuring expenses
—

 
—

 
—

 
(365
)
 
(365
)
 
—

 
—

 
(365
)
General and administrative expenses
(192
)
 
(1,212
)
 
—

 
(3,630
)
 
(5,034
)
 
—

 
—

 
(5,034
)
Provision for credit losses
(155
)
 
—

 
(8,505
)
 
—

 
(8,660
)
 
—

 
—

 
(8,660
)
Depreciation and amortization
(648
)
 
(66
)
 
—

 
(349
)
 
(1,063
)
 
—

 
—

 
(1,063
)
Gain on deconsolidation and sale of subsidiaries
—

 
54,682

 
—

 
—

 
54,682

 
—

 
—

 
54,682

Other-than-temporary impairment on investments
—

 
(74
)
 
—

 
—

 
(74
)
 
—

 
—

 
(74
)
Interest expense
(426
)
 
—

 
(43
)
 
(754
)
 
(1,223
)
 
—

 
—

 
(1,223
)
Other income (expense), net
277

 
993

 
—

 
(278
)
 
992

 
5,464

 
(948
)
 
5,508

Pretax loss (income) attributable to noncontrolling interests (2)
(6
)
 
—

 
—

 
—

 
(6
)
 
(29,975
)
 
—

 
(29,981
)
Income (loss) from continuing operations excluding noncontrolling interests before taxes
$
4,694

 
$
56,245

 
$
(10,264
)
 
$
(5,376
)
 
$
45,299

 
$
3,955

 
$
(1,054
)
 
$
48,200


(Restated)
Real Estate
 
Financial Fund Management
 
Commercial Finance
 
All 
Other (1)
 
Subtotal
 
RSO
 
Elims
 
Total
Segment assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
June 30, 2013
$
173,539

 
$
77,580

 
$
9,062

 
$
(68,889
)
 
$
191,292

 
$
2,402,480

 
(29,831
)
 
$
2,563,941

June 30, 2012
167,077

 
79,447

 
20,990

 
(74,678
)
 
192,836

 
2,251,969

 
(27,769
)
 
2,417,036

 
(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.