XML 58 R44.htm IDEA: XBRL DOCUMENT v3.2.0.727
OPERATING SEGMENTS (Tables)
 6 Months Ended
Jun. 30, 2015
Segment Reporting [Abstract]  
Summarized Operating Segment Data
Summarized operating segment data are as follows (in thousands):
Three Months Ended 
 June 30, 2015
 
Real
Estate
 
Financial
Fund
Management
 
Commercial
Finance
 
All
Other (1)
 
Total
RAI
 
RSO
 
Eliminations
 
Total
Consolidation
Revenues from external customers
 
$
19,705

 
$
2,556

 
$
7

 
$
—

 
$
22,268

 
$
24,201

 
$
(3,370
)
 
$
43,099

Equity in earnings (losses) of unconsolidated entities
 
1,411

 
2,225

 
(5
)
 
—

 
3,631

 
—

 
(734
)
 
2,897

Total revenues
 
21,116

 
4,781

 
2

 
—

 
25,899

 
24,201

 
(4,104
)
 
45,996

Segment operating expenses
 
(12,082
)
 
(3,154
)
 
(458
)
 

 
(15,694
)
 
(54,535
)
 
3,368

 
(66,861
)
General and administrative expenses
 
(1,376
)
 
(451
)
 
—

 
(2,354
)
 
(4,181
)
 
—

 
—

 
(4,181
)
Provision for credit losses
 
(194
)
 
—

 
(82
)
 
—

 
(276
)
 
—

 
—

 
(276
)
Depreciation and amortization
 
(343
)
 
(16
)
 
—

 
(156
)
 
(515
)
 
—

 
—

 
(515
)
Impairment on investment in unconsolidated entities
 
—

 
(4,346
)
 
—

 
—

 
(4,346
)
 
—

 
—

 
(4,346
)
Interest expense
 
(179
)
 
—

 
(1
)
 
(275
)
 
(455
)
 
—

 
—

 
(455
)
Other income (expense), net
 
248

 
475

 
2

 
(36
)
 
689

 
10,537

 
(454
)
 
10,772

Pretax loss (income) attributable to noncontrolling interests (2)
 
(63
)
 
—

 
—

 
—

 
(63
)
 
(8,296
)
 
30,348

 
21,989

Income (loss) from continuing operations, net of noncontrolling interests before taxes
 
$
7,127

 
$
(2,711
)
 
$
(537
)
 
$
(2,821
)
 
$
1,058

 
$
(28,093
)
 
$
29,158

 
$
2,123

Six Months Ended 
 June 30, 2015
 
Real
Estate
 
Financial
Fund
Management
 
Commercial
Finance
 
All
Other (1)
 
Total
RAI
 
RSO
 
Eliminations
 
Total
Consolidation
Revenues from external customers
 
$
35,999

 
$
5,685

 
$
20

 
$
—

 
$
41,704

 
$
48,562

 
$
(6,822
)
 
$
83,444

Equity in earnings (losses) of unconsolidated entities
 
2,083

 
4,233

 
(20
)
 
—

 
6,296

 
—

 
(1,555
)
 
4,741

Total revenues
 
38,082

 
9,918

 
—

 
—

 
48,000

 
48,562

 
(8,377
)
 
88,185

Segment operating expenses
 
(23,581
)
 
(6,144
)
 
(1,037
)
 
—

 
(30,762
)
 
(75,595
)
 
6,736

 
(99,621
)
General and administrative expenses
 
(2,255
)
 
(735
)
 


 
(4,488
)
 
(7,478
)
 
—

 
—

 
(7,478
)
Provision for credit losses
 
(308
)
 
—

 
(370
)
 
—

 
(678
)
 
—

 
—

 
(678
)
Depreciation and amortization
 
(655
)
 
(32
)
 
—

 
(285
)
 
(972
)
 
—

 
—

 
(972
)
Impairment on investment in unconsolidated entities
 
—

 
(4,346
)
 
—

 
—

 
(4,346
)
 
—

 
—

 
(4,346
)
Interest expense
 
(362
)
 
—

 
(1
)
 
(513
)
 
(876
)
 
—

 
—

 
(876
)
Other income (expense), net
 
471

 
916

 
3

 
(387
)
 
1,003

 
27,053

 
(921
)
 
27,135

Pretax income attributable to noncontrolling interests (2)
 
(55
)
 
—

 
—

 
—

 
(55
)
 
(16,864
)
 
21,121

 
4,202

Income (loss) from continuing operations, net of noncontrolling interests before taxes
 
$
11,337

 
$
(423
)
 
$
(1,405
)
 
$
(5,673
)
 
$
3,836

 
$
(16,844
)
 
$
18,559

 
$
5,551

Three Months Ended 
 June 30, 2014
 
Real
Estate
 
Financial
Fund
Management
 
Commercial
Finance
 
All
Other (1)
 
Total
RAI
 
RSO
 
Eliminations
 
Total
Consolidation
Revenues from external customers
 
$
13,674

 
$
6,826

 
$
—

 
$
—

 
$
20,500

 
$
23,828

 
$
(3,040
)
 
$
41,288

Equity in (losses) earnings of unconsolidated entities
 
(226
)
 
1,315

 
(42
)
 
—

 
1,047

 
—

 
—

 
1,047

Total revenues
 
13,448

 
8,141

 
(42
)
 
—

 
21,547

 
23,828

 
(3,040
)
 
42,335

Segment operating expenses
 
(9,105
)
 
(2,779
)
 
(123
)
 
—

 
(12,007
)
 
(16,853
)
 
3,053

 
(25,807
)
General and administrative expenses
 
(731
)
 
(445
)
 
—

 
(1,553
)
 
(2,729
)
 
—

 
—

 
(2,729
)
Reversal of (provision for) credit losses
 
7

 
—

 
(1,582
)
 
—

 
(1,575
)
 
—

 
—

 
(1,575
)
Depreciation and amortization
 
(310
)
 
(20
)
 
—

 
(135
)
 
(465
)
 
—

 
—

 
(465
)
Gain on sale of investment securities, net
 
—

 
370

 
—

 
—

 
370

 
—

 
—

 
370

Interest expense
 
(191
)
 
—

 
(9
)
 
(297
)
 
(497
)
 
—

 
—

 
(497
)
Other income, net
 
111

 
555

 
—

 
(76
)
 
590

 
10,281

 
(561
)
 
10,310

Pretax loss (income) attributable to noncontrolling interests (2)
 
(84
)
 
—

 
—

 
—

 
(84
)
 
(17,405
)
 
—

 
(17,489
)
Income (loss) from continuing operations, net of noncontrolling interests before taxes
 
$
3,145

 
$
5,822

 
$
(1,756
)
 
$
(2,061
)
 
$
5,150

 
$
(149
)
 
$
(548
)
 
$
4,453

Six Months Ended 
 June 30, 2014
 
Real
Estate
 
Financial
Fund
Management
 
Commercial
Finance
 
All
Other (1)
 
Total
RAI
 
RSO
 
Eliminations
 
Total
Consolidation
Revenues from external customers
 
$
27,304

 
$
12,816

 
$
—

 
$
—

 
$
40,120

 
$
49,073

 
$
(5,920
)
 
$
83,273

Equity in (losses) earnings of unconsolidated entities
 
(581
)
 
2,400

 
(141
)
 
—

 
1,678

 
—

 
—

 
1,678

Total revenues
 
26,723

 
15,216

 
(141
)
 
—

 
41,798

 
49,073

 
(5,920
)
 
84,951

Segment operating expenses
 
(17,980
)
 
(7,168
)
 
(226
)
 
—

 
(25,374
)
 
(28,138
)
 
5,872

 
(47,640
)
General and administrative expenses
 
(1,827
)
 
(898
)
 
—

 
(3,158
)
 
(5,883
)
 
—

 
—

 
(5,883
)
Reversal of (provision for) credit losses
 
10

 
—

 
(2,793
)
 
—

 
(2,783
)
 
—

 
—

 
(2,783
)
Depreciation and amortization
 
(618
)
 
(31
)
 
—

 
(267
)
 
(916
)
 
—

 
—

 
(916
)
Gain on sale of investment securities, net
 
—

 
370

 
—

 
—

 
370

 
—

 
—

 
370

Interest expense
 
(387
)
 
—

 
(9
)
 
(584
)
 
(980
)
 
—

 
—

 
(980
)
Other income, net
 
367

 
1,126

 
(2
)
 
(164
)
 
1,327

 
13,797

 
(1,115
)
 
14,009

Pretax income attributable to noncontrolling interests (2)
 
(44
)
 
—

 
—

 
—

 
(44
)
 
(34,556
)
 
—

 
(34,600
)
Income (loss) from continuing operations including noncontrolling interests before taxes
 
$
6,244

 
$
8,615

 
$
(3,171
)
 
$
(4,173
)
 
$
7,515

 
$
176

 
$
(1,163
)
 
$
6,528

Segment assets
 
Real
Estate
 
Financial
Fund
Management
 
Commercial
Finance
 
All
Other (1)
 
Total
RAI
 
RSO
 
Total
Consolidation
June 30, 2015
 
$
197,599

 
$
49,022

 
$
3,863

 
$
(82,003
)
 
$
168,481

 
$
2,774,224

 
$
2,942,705

June 30, 2014
 
$
183,279

 
$
59,959

 
$
5,469

 
$
(83,429
)
 
$
165,278

 
$
2,558,168

 
$
2,723,446

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