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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUES:        
Total revenues $ 40,677 $ 41,504 $ 128,862 $ 126,455
COSTS AND EXPENSES:        
General and administrative 4,053 2,426 11,531 8,309
Provision for credit losses (400) 559 278 3,342
Depreciation and amortization 504 453 1,476 1,369
COSTS AND EXPENSES: 32,100 27,704 140,849 84,926
OPERATING INCOME (LOSS) 8,577 13,800 (11,987) 41,529
OTHER INCOME (EXPENSE):        
Impairment on investments in unconsolidated entities (151)   (4,497)  
Interest expense (450) (467) (1,326) (1,447)
Total other income (expense) 4,562 3,423 26,475 16,811
Income (loss) from continuing operations before taxes 13,139 17,223 14,488 58,340
Income tax provision (benefit) (441) 1,504 6,425 4,324
Net income (loss) 13,580 15,719 8,063 54,016
Net income (loss) attributable to common shareholders $ (1,100) $ 1,516 $ (2,417) $ 5,224
Basic earnings (loss) per share:        
Net income (in dollars per share) $ (0.05) $ 0.07 $ (0.11) $ 0.25
Weighted average shares outstanding (in shares) 22,067 21,109 22,629 20,586
Diluted earnings (loss) per share:        
Net income (loss) (in dollars per share) $ (0.05) $ 0.07 $ (0.11) $ 0.24
Weighted average shares outstanding (in shares) 22,067 22,301 22,629 22,124
RAI [Member]        
REVENUES:        
Real estate (includes revenues of $2,422, $2,643, $7,925 and $7,628 related to RSO) $ 16,195 $ 14,289 $ 54,277 $ 41,012
Financial fund management (includes revenues of $1,372, $1,525, $4,260 and $2,485 related to RSO) 4,408 5,557 14,326 20,773
Commercial finance (includes no revenues related to RSO) 66 (17) 66 (158)
Total revenues 20,669 19,829 68,669 61,627
COSTS AND EXPENSES:        
Real estate 11,223 9,384 34,804 27,364
Financial fund management 3,369 2,812 9,513 9,980
Commercial finance 434 125 1,471 351
General and administrative 4,053 2,426 11,531 8,309
Provision for credit losses (400) 559 278 3,342
Depreciation and amortization 504 453 1,476 1,369
COSTS AND EXPENSES: 19,183 15,759 59,073 50,715
OTHER INCOME (EXPENSE):        
Gain (loss) on sale of investment securities, net 0 69 0 439
Impairment on investments in unconsolidated entities (151) 0 (4,497) 0
Interest expense (450) (467) (1,326) (1,447)
Other (expense) income (52) 80 15 263
Total other income (expense) (653) (318) (5,808) (745)
Income tax provision (benefit) 1,355 1,741 3,456 4,991
Net (income) loss attributable to noncontrolling interests (37) 11 (92) (33)
Variable Interest Entity, Primary Beneficiary [Member]        
OTHER INCOME (EXPENSE):        
Net (income) loss attributable to noncontrolling interests (14,643) (14,214) (10,388) (48,759)
RSO [Member]        
REVENUES:        
Real estate (includes revenues of $2,422, $2,643, $7,925 and $7,628 related to RSO) 2,422 2,643 7,925 7,628
Financial fund management (includes revenues of $1,372, $1,525, $4,260 and $2,485 related to RSO) 1,372 1,525 4,260 2,485
Total revenues 23,705 25,811 72,267 74,884
COSTS AND EXPENSES:        
General and administrative 4,372 3,716 13,222 11,305
Depreciation and amortization 628 562 1,814 2,158
COSTS AND EXPENSES: 15,994 15,447 91,589 43,585
OTHER INCOME (EXPENSE):        
Impairment on investments in unconsolidated entities     (59) 0
Interest expense (16,906) (11,508) (47,611) (31,746)
Other (expense) income 5,215 3,730 32,268 17,527
Total other income (expense) 0 0 0 (1,262)
Income tax provision (benefit) (1,796) (237) 2,969 (667)
Net (income) loss attributable to noncontrolling interests   (14,214)    
Net income (loss) attributable to common shareholders 14,722 14,331 9,977 49,493
Intersegment Eliminations [Member]        
REVENUES:        
Total revenues (3,697) (4,136) (12,074) (10,056)
COSTS AND EXPENSES:        
COSTS AND EXPENSES: (3,077) (3,502) (9,813) (9,374)
Intersegment Eliminations [Member] | RSO [Member]        
REVENUES:        
Total revenues (3,697) (4,136) (12,074) (10,056)
COSTS AND EXPENSES:        
COSTS AND EXPENSES: (3,077) (3,502) (9,813) (9,374)
OTHER INCOME (EXPENSE):        
Other (expense) income 0 11 15 29
Reportable Legal Entities [Member]        
REVENUES:        
Total revenues (3,697)      
COSTS AND EXPENSES:        
COSTS AND EXPENSES: (3,077)      
Reportable Legal Entities [Member] | RAI [Member]        
REVENUES:        
Real estate (includes revenues of $2,422, $2,643, $7,925 and $7,628 related to RSO) 16,195 14,289 54,277 41,012
Financial fund management (includes revenues of $1,372, $1,525, $4,260 and $2,485 related to RSO) 4,408 5,557 14,326 20,773
Commercial finance (includes no revenues related to RSO) 66 (17)   (158)
Total revenues 20,669 19,829 68,669 61,627
COSTS AND EXPENSES:        
Real estate 11,223 9,384 34,804 27,364
Financial fund management 3,369 2,812 9,513 9,980
Commercial finance 434 125 1,471 351
General and administrative 4,053 2,426 11,531 8,309
Provision for credit losses (400) 559 278 3,342
Depreciation and amortization 504 453 1,476 1,369
COSTS AND EXPENSES: 19,183 15,759 59,073 50,715
OPERATING INCOME (LOSS) 1,486 4,070 9,596 10,912
OTHER INCOME (EXPENSE):        
Gain (loss) on sale of investment securities, net   69   439
Impairment on investments in unconsolidated entities (151)   (4,497)  
Interest expense (450) (467) (1,326) (1,447)
Income (loss) from continuing operations before taxes 1,271 4,324 5,162 11,883
Income tax provision (benefit) 1,355 1,741 3,456 4,991
Net income (loss) (84) 2,583 1,706 6,892
Net (income) loss attributable to noncontrolling interests (37) 11 (92) (33)
Net income (loss) attributable to common shareholders (121) 2,594 1,614 6,859
Reportable Legal Entities [Member] | Variable Interest Entity, Primary Beneficiary [Member]        
OTHER INCOME (EXPENSE):        
Net (income) loss attributable to noncontrolling interests (7,944)   (24,808) (12,372)
Reportable Legal Entities [Member] | RSO [Member]        
REVENUES:        
Total revenues 23,705 25,811 72,267 74,884
COSTS AND EXPENSES:        
General and administrative 0 0 0 0
Provision for credit losses 0 0 0 0
Depreciation and amortization 0 0 0 0
COSTS AND EXPENSES: 15,994 15,447 91,589 43,585
OPERATING INCOME (LOSS) 7,711 10,364 (19,322) 31,299
OTHER INCOME (EXPENSE):        
Impairment on investments in unconsolidated entities 0   0  
Interest expense 0 0 0 0
Income (loss) from continuing operations before taxes 12,926 14,094 12,946 48,826
Income tax provision (benefit) (1,796) (237) 2,969 (667)
Net income (loss) 14,722 14,331 9,977 49,493
Net (income) loss attributable to noncontrolling interests   (7,003)    
Net income (loss) attributable to common shareholders 6,778 7,328 (14,831) 37,121
Consolidation, Eliminations [Member]        
REVENUES:        
Total revenues (3,697) (4,136) (12,074) (10,056)
COSTS AND EXPENSES:        
General and administrative 0 0 0 0
Provision for credit losses 0 0 0 0
Depreciation and amortization 0 0 0 0
COSTS AND EXPENSES: (3,077) (3,502) (9,813) (9,374)
OPERATING INCOME (LOSS) (620) (634) (2,261) (682)
OTHER INCOME (EXPENSE):        
Impairment on investments in unconsolidated entities 0   0  
Interest expense 0 0 0 0
Income (loss) from continuing operations before taxes (1,058) (1,195) (3,620) (2,369)
Income tax provision (benefit) 0 0 0 0
Net income (loss) (1,058) (1,195) (3,620) (2,369)
Net income (loss) attributable to common shareholders (7,757) (8,406) 10,800 (38,756)
Consolidation, Eliminations [Member] | RAI [Member]        
OTHER INCOME (EXPENSE):        
Interest expense   0    
Consolidation, Eliminations [Member] | Variable Interest Entity, Primary Beneficiary [Member]        
OTHER INCOME (EXPENSE):        
Net (income) loss attributable to noncontrolling interests $ (6,699)   $ 14,420 $ (36,387)
Consolidation, Eliminations [Member] | RSO [Member]        
COSTS AND EXPENSES:        
COSTS AND EXPENSES:   0    
OTHER INCOME (EXPENSE):        
Net (income) loss attributable to noncontrolling interests   $ (7,211)