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Document and Entity Information (USD $)
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12 Months Ended | ||
|---|---|---|---|
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Dec. 31, 2012
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Feb. 25, 2013
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Jun. 30, 2012
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| Document Information [Line Items] | |||
| Document Type | 10-K | ||
| Amendment Flag | false | ||
| Document Period End Date | Dec. 31, 2012 | ||
| Document Fiscal Year Focus | 2012 | ||
| Document Fiscal Period Focus | FY | ||
| Trading Symbol | JOE | ||
| Entity Registrant Name | ST JOE CO | ||
| Entity Central Index Key | 0000745308 | ||
| Current Fiscal Year End Date | --12-31 | ||
| Entity Well-known Seasoned Issuer | Yes | ||
| Entity Current Reporting Status | Yes | ||
| Entity Voluntary Filers | No | ||
| Entity Filer Category | Accelerated Filer | ||
| Entity Common Stock, Shares Outstanding | 92,302,299 | ||
| Entity Public Float | $ 590,000,000 |
| X | ||||||||||
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- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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| X | ||||||||||
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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| X | ||||||||||
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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| X | ||||||||||
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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| X | ||||||||||
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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| X | ||||||||||
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
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- Definition
State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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| X | ||||||||||
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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| X | ||||||||||
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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Also includes amount of deferred revenue as of balance sheet date. Deferred revenue represents collections of cash or other assets related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. No definition available.
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Value of all classes of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares exclude common shares repurchased by the entity and held as treasury shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after allocation of valuation allowances of noncurrent deferred tax asset attributable to deductible temporary differences and carryforwards. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The funded status is measured as the difference between the fair value of plan assets and the benefit obligation. Will normally be the same as the net Defined Benefit Plan, Amounts Recognized in Balance Sheet, Total. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The carrying amount of securities categorized as held-to-maturity which serve as security for borrowings or other arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount as of the balance sheet date of income taxes previously overpaid to tax authorities (such as U.S. Federal, state and local tax authorities) representing refunds of overpayments or recoveries based on agreed-upon resolutions of disputes. Also called income tax refund receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net amount of the investment in a contractual right to receive money on demand or on fixed or determinable dates that is recognized as an asset in the creditor's statement of financial position. Examples include, but are not limited to, credit card receivables, notes receivable and receivables relating to lessor's rights to payments from leases other than operating leases that have been recorded as assets. Excludes trade accounts receivable with contractual maturity of one year or less and arose from the sale of goods or services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
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Dec. 31, 2012
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Dec. 31, 2011
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|---|---|---|
| Common stock, par value | ||
| Common stock, shares authorized | 180,000,000 | 180,000,000 |
| Common stock, issued | 92,285,408 | 92,267,256 |
| Treasury stock, shares | 16,891 | 0 |
| X | ||||||||||
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- Definition
Issuance value per share of no-par value common stock; generally not indicative of the fair market value per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
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Dec. 31, 2012
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Dec. 31, 2011
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Dec. 31, 2010
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|
| Revenues: | |||
| Real estate sales | $ 56,012 | $ 20,343 | $ 39,251 |
| Resort, leisure and leasing revenues | 44,407 | 38,239 | 31,448 |
| Timber sales | 38,977 | 86,703 | 28,841 |
| Total revenues | 139,396 | 145,285 | 99,540 |
| Expenses: | |||
| Cost of real estate sales | 28,193 | 11,518 | 8,868 |
| Cost of resort, leisure and leasing revenues | 39,083 | 37,093 | 33,221 |
| Cost of timber sales | 24,000 | 22,861 | 20,199 |
| Other operating expenses | 15,321 | 22,252 | 34,783 |
| Corporate expense, net | 15,941 | 27,785 | 26,178 |
| Depreciation, depletion and amortization | 10,110 | 15,840 | 13,657 |
| Impairment losses | 2,551 | 377,325 | 4,799 |
| Pension charges | 2,063 | 5,871 | 4,138 |
| Restructuring charges | 11,547 | 5,251 | |
| Total expenses | 137,262 | 532,092 | 151,094 |
| Operating income (loss) | 2,134 | (386,807) | (51,554) |
| Other income (expense): | |||
| Investment income, net | 1,219 | 1,130 | 1,470 |
| Interest expense | (2,820) | (3,921) | (8,612) |
| Other, net | 5,890 | 3,725 | 3,250 |
| Total other income (expense) | 4,289 | 934 | (3,892) |
| Income (loss) from operations before equity in loss from unconsolidated affiliates and income taxes | 6,423 | (385,873) | (55,446) |
| Equity in loss from unconsolidated affiliates | (46) | (93) | (4,308) |
| Income tax expense (benefit) | 387 | (55,658) | (23,849) |
| Net income (loss) | 5,990 | (330,308) | (35,905) |
| Less: Net loss attributable to non-controlling interest | (22) | (29) | (41) |
| Net income (loss) attributable to the Company | $ 6,012 | $ (330,279) | $ (35,864) |
| Basic and Diluted | |||
| Net income (loss) attributable to the Company | $ 0.07 | $ (3.58) | $ (0.39) |
| Basic and diluted average shares outstanding | 92,258,110 | 92,235,360 | 91,674,346 |
| X | ||||||||||
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- Definition
Costs incurred in operating vacation rental programs and other resort, golf, club and marina operations. No definition available.
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| X | ||||||||||
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- Definition
Income Loss From Unconsolidated Affiliates. No definition available.
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| X | ||||||||||
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- Definition
Revenue from vacation rental programs and other resort, golf, club and marina operations. No definition available.
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| X | ||||||||||
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- Definition
The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Reflects for the period the total of the carrying amount of the commercial, industrial and residential land and buildings sold plus certain overhead and other costs incurred to place the real estate in saleable condition, capitalized interest costs in the properties sold, and inventory impairment losses recognized. This element would most likely be used by an entity whose principal activities involve real estate or which has significant real estate operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of net gain (loss) recognized in net periodic benefit cost due to settlements and curtailments. Curtailments result from an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Settlements result from an irrevocable action that relieves the employer (or the plan) of primary responsibility for a benefit obligation and eliminates significant risks related to the obligation and the assets used to effect the settlement. Examples of transactions that constitute a settlement include, but are not limited to, lump-sum cash payments to plan participants in exchange for their rights to receive specified benefits and purchasing nonparticipating annuity contracts to cover vested benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This item represents investment income derived from investments in debt and equity securities consisting of interest income earned from investments in debt securities and on cash and cash equivalents, dividend income from investments in equity securities, and income or expense derived from the amortization of investment related discounts or premiums, respectively, net of related investment expenses. This item does not include realized or unrealized gains or losses on the sale or holding of investments in debt and equity securities required to be included in earnings for the period or for other than temporary losses related to investments in debt and equity securities which are included in realized losses in the period recognized, and does not include investment income from real or personal property, such as rental income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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| X | ||||||||||
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- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The sum of expenses not otherwise specified in the taxonomy for managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount charged against earnings in the period for incurred and estimated costs associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, excluding asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Revenue from the sale of commercial, industrial, or residential property during the period. This element is more likely than not relevant to an entity for which real estate operations are a principal activity. If real estate operations are not a principal activity, the reporting entity would likely use a gain (loss) on sale of property, plant, or equipment type element. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Costs incurred in cultivating and manufacturing timber, mill lumber, wood, and wood products during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Revenue from sale of timber, mill lumber, wood, and other wood products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Net income (loss): | $ 5,990 | $ (330,308) | $ (35,905) |
| Other comprehensive income, net of tax: | |||
| Prior service cost arising during the period | (1,597) | (910) | |
| Net loss arising during the period | (2,485) | (3,558) | (260) |
| Amortization and curtailment of prior service cost included in net periodic cost | 2,503 | 1,106 | 1,083 |
| Amortization and settlement related to the pension plan included in net periodic cost | 1,210 | 2,274 | 1,716 |
| Amortization and settlement related to the post retirement medical plan included in net periodic cost | 2,441 | 383 | |
| Total other comprehensive income, net of tax | 1,228 | 666 | 2,012 |
| Total comprehensive income (loss) | $ 7,218 | $ (329,642) | $ (33,893) |
| X | ||||||||||
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- Definition
Other Comprehensive Income (Loss), Amortization and Settlement of Pension Plan Benefits Recognized in Net Periodic Benefit Cost No definition available.
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| X | ||||||||||
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- Definition
Other Comprehensive Income (Loss), Amortization and Settlement of Post Retirement Medical Plan Benefits Recognized in Net Periodic Benefit Cost No definition available.
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| X | ||||||||||
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- Definition
Other Comprehensive Income (Loss), Amortization, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost Recognized in Net Periodic Benefit Cost, Net of Tax No definition available.
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| X | ||||||||||
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- Definition
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Prior Service Cost Arising During Period, Net of Tax No definition available.
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| X | ||||||||||
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- Definition
Other Comprehensive Income Loss Pension and Other Postretirement Benefit Plans Net Unamortized Gain Loss Arising During Net of Tax No definition available.
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| X | ||||||||||
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- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net of tax amount of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (USD $)
In Thousands, except Share data |
Total
|
Common Stock
|
Retained Earnings (Deficit)
|
Accumulated Other Comprehensive Income (Loss)
|
Treasury Stock
|
Noncontrolling Interest
|
|---|---|---|---|---|---|---|
| Beginning Balance at Dec. 31, 2009 | $ 896,320 | $ 924,267 | $ 914,362 | $ (12,558) | $ (930,124) | $ 373 |
| Beginning Balance (in shares) at Dec. 31, 2009 | 92,281,451 | |||||
| Net income (loss) | (35,905) | (35,864) | (41) | |||
| Other comprehensive income (loss) | 2,012 | 2,012 | ||||
| Distributions | (19) | (19) | ||||
| Issuances of restricted stock | 340,053 | |||||
| Forfeitures of restricted stock (in shares) | (152,193) | |||||
| Issuances of common stock (in shares) | 178,886 | |||||
| Issuances of common stock | 5,082 | 5,082 | ||||
| Excess or reduction in tax benefit on options exercised and vested restricted stock | (362) | (362) | ||||
| Amortization of stock- based compensation | 6,616 | 6,616 | ||||
| Purchases of treasury stock (in shares) | (42,762) | |||||
| Purchases of treasury stock | (1,307) | (1,307) | ||||
| Ending Balance at Dec. 31, 2010 | 872,437 | 935,603 | 878,498 | (10,546) | (931,431) | 313 |
| Ending Balance (in shares) at Dec. 31, 2010 | 92,605,435 | |||||
| Net income (loss) | (330,308) | (330,279) | (29) | |||
| Other comprehensive income (loss) | 666 | 666 | ||||
| Distributions | 47 | 47 | ||||
| Issuances of restricted stock | 262,120 | |||||
| Forfeitures of restricted stock (in shares) | (425,078) | |||||
| Issuances of common stock (in shares) | 4,000 | |||||
| Issuances of common stock | 100 | 100 | ||||
| Excess or reduction in tax benefit on options exercised and vested restricted stock | (1,897) | (1,897) | ||||
| Amortization of stock- based compensation | 7,659 | 7,659 | ||||
| Retirement of treasury shares | (51,151) | (885,092) | 936,243 | |||
| Purchases of treasury stock (in shares) | (179,221) | |||||
| Purchases of treasury stock | (4,812) | (4,812) | ||||
| Ending Balance at Dec. 31, 2011 | 543,892 | 890,314 | (336,873) | (9,880) | 331 | |
| Ending Balance (in shares) at Dec. 31, 2011 | 92,267,256 | |||||
| Net income (loss) | 5,990 | 6,012 | (22) | |||
| Other comprehensive income (loss) | 1,228 | 1,228 | ||||
| Issuances of restricted stock | 59,891 | |||||
| Issuances of restricted stock | 976 | 976 | ||||
| Forfeitures of restricted stock (in shares) | (32,210) | |||||
| Forfeitures of restricted stock | (108) | (108) | ||||
| Excess or reduction in tax benefit on options exercised and vested restricted stock | 477 | 477 | ||||
| Amortization of stock- based compensation | 31 | 31 | ||||
| Treasury shares received in lieu of taxes to be remitted on share award (in shares) | (9,529) | |||||
| Treasury shares received in lieu of taxes to be remitted on share award | (152) | (152) | ||||
| Ending Balance at Dec. 31, 2012 | $ 552,334 | $ 891,798 | $ (330,861) | $ (8,652) | $ (260) | $ 309 |
| Ending Balance (in shares) at Dec. 31, 2012 | 92,285,408 |
| X | ||||||||||
|
- Definition
Shares Paid For Tax Withholding For Share Based Compensation, Value No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation". Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tax benefit associated with any equity-based compensation plan other than an employee stock ownership plan (ESOP). The tax benefit results from the deduction by the entity on its tax return for an award of stock that exceeds the cumulative compensation cost for common stock or preferred stock recognized for financial reporting. Includes any resulting tax benefit that exceeds the previously recognized deferred tax asset (excess tax benefits). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Decrease in noncontrolling interest balance from payment of dividends or other distributions by the non-wholly owned subsidiary or partially owned entity, included in the consolidation of the parent entity, to the noncontrolling interest holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net of tax amount of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares issued and outstanding as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
For net-share settlement of share-based awards when the employer settles employees' income tax withholding obligations, this element represents the number of shares the employees use to repay the employer. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares related to Restricted Stock Award forfeited during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value of stock related to Restricted Stock Awards forfeited during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate value of stock related to Restricted Stock Awards issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of decrease of par value, additional paid in capital (APIC) and retained earnings of common and preferred stock retired from treasury when treasury stock is accounted for under the cost method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares that have been repurchased during the period and are being held in treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the cost method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
CONSOLIDATED CASH FLOW STATEMENTS (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Cash flows from operating activities: | |||
| Net income (loss) | $ 5,990 | $ (330,308) | $ (35,905) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation, depletion and amortization | 10,110 | 15,840 | 13,657 |
| Loss on disposition of property and equipment | 758 | 294 | |
| Loss attributed to casualty loss of real estate | 998 | ||
| Stock-based compensation | 898 | 8,452 | 5,159 |
| Accretion expense (income) | 564 | (424) | (402) |
| Equity in loss of unconsolidated joint ventures | 37 | 93 | 4,308 |
| Deferred income tax benefit | (242) | (53,497) | (23,990) |
| Impairment losses | 2,551 | 377,325 | 4,799 |
| Pension charges | 2,063 | 5,871 | 4,138 |
| Cost of operating properties sold | 27,248 | 10,444 | 6,321 |
| Expenditures for operating properties | (22,920) | (28,296) | (14,782) |
| Changes in operating assets and liabilities: | |||
| Notes receivable | 594 | 1,370 | 7,513 |
| Other assets | 1,092 | 4,966 | (3,173) |
| Accounts payable and accrued liabilities | (5,535) | (20,165) | (15,968) |
| Income taxes (receivable) payable | (167) | (2,802) | 64,637 |
| Net cash provided by (used in) operating activities | 23,041 | (9,839) | 16,312 |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (475) | (2,426) | (1,282) |
| Proceeds from the disposition of assets | 328 | 120 | |
| Cash receipts from retained interest investments | 656 | ||
| Distributions from unconsolidated affiliates | 650 | ||
| Investments in unconsolidated affiliates | (40) | ||
| Net cash provided by (used in) investing activities | 181 | (2,138) | (512) |
| Cash flows from financing activities: | |||
| Repayments of other long-term debt | (19,958) | (227) | |
| Distributions to minority interest partner | (141) | (19) | |
| Distributions to unconsolidated affiliates for repayment of debt | (4,434) | ||
| Proceeds from exercises of stock options | 100 | 5,083 | |
| Excess tax benefits from stock-based compensation | 477 | 55 | 463 |
| Taxes paid on behalf of employees related to stock-based compensation | (152) | (4,812) | (1,307) |
| Net cash (used in) provided by financing activities | (19,633) | (9,459) | 4,220 |
| Net increase (decrease) in cash and cash equivalents | 3,589 | (21,436) | 20,020 |
| Cash and cash equivalents at beginning of year | 162,391 | 183,827 | 163,807 |
| Cash and cash equivalents at end of year | 165,980 | 162,391 | 183,827 |
| Cash paid during the year for: | |||
| Interest | 3,072 | 8,329 | 4,505 |
| Income taxes (received) paid, net | 319 | 1,988 | (65,061) |
| Capitalized interest | 243 | 245 | |
| Non-cash financing and investment activities: | |||
| Net (decrease) increase in Community Development District Debt | (956) | 1,016 | 539 |
| Net increase (decrease) in pledged treasury securities related to defeased debt | 3,519 | (1,982) | (1,824) |
| Expenditures of operating properties and property and equipment and financed through accounts payable | $ 1,917 | $ (1,936) | $ 731 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Distribution to noncontrolling interest for the repayment debt. No definition available.
|
| X | ||||||||||
|
- Definition
Increase Decrease In Community Development District Debt No definition available.
|
| X | ||||||||||
|
- Definition
Increase Decrease In Pledged Treasury Securities Related To Defeased Debt No definition available.
|
| X | ||||||||||
|
- Definition
The net cash inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. No definition available.
|
| X | ||||||||||
|
- Definition
Value of shares of stock surrendered by employees to pay payroll withholding tax on vested restricted stock or exercised stock options. No definition available.
|
| X | ||||||||||
|
- Definition
The sum of the periodic adjustments of the differences between securities' face values and purchase prices that are charged against earnings. This is called accretion if the security was purchased at a discount and amortization if it was purchased at premium. As a noncash item, this element is an adjustment to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future cash outflow to pay for purchases of fixed assets that have occurred. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net amount of deferred income taxes and income tax credits less the tax benefit from exercise of stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of net gain (loss) recognized in net periodic benefit cost due to settlements and curtailments. Curtailments result from an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Settlements result from an irrevocable action that relieves the employer (or the plan) of primary responsibility for a benefit obligation and eliminates significant risks related to the obligation and the assets used to effect the settlement. Examples of transactions that constitute a settlement include, but are not limited to, lump-sum cash payments to plan participants in exchange for their rights to receive specified benefits and purchasing nonparticipating annuity contracts to cover vested benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents disclosure of the amount of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporation; these investments are accounted for under the equity method of accounting. This element excludes distributions that constitute a return of investment, which are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of excess tax benefit (tax deficiency) that arises when compensation cost from non-qualified share-based compensation recognized on the entity's tax return exceeds (is less than) compensation cost from equity-based compensation recognized in financial statements. Excess tax benefit (tax deficiency) increases (decreases) net cash provided by financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The difference between the sale price or salvage price and the book value of a property, plant, and equipment asset that was sold or retired during the reporting period. This element refers to the gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net gain (loss) resulting from sales and other disposals of real estate owned for investment purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) in obligations owed to an entity that is controlling, under the control of, or within the same control group as the reporting entity by means of direct or indirect ownership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period of the amounts due from borrowers for outstanding secured or unsecured loans evidenced by a note. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of interest capitalized, including amount of allowance for funds used during construction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Cash outflow in the form of ordinary dividends to noncontrolling interests, generally out of earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Payments to develop real estate assets is the process of adding improvements on or to a parcel of land. Such improvements may include drainage, utilities, subdividing, access, buildings, and any combination of these elements; and are generally classified as cash flow from investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from the sale of property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amount of real estate sold during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow attributable to repayments of borrowings not otherwise defined in the taxonomy (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Nature of Operations
|
12 Months Ended |
|---|---|
|
Dec. 31, 2012
|
|
| Nature of Operations | 1. Nature of Operations The St. Joe Company (the “Company”) is a Florida-based real estate developer and manager. The Company owns approximately 567,000 acres of land concentrated primarily in Northwest Florida and has significant residential and commercial land-use entitlements in hand or in process. The majority of land not under development or part of the Company’s various commercial, resort, leisure and leasing operations is used for the growing and selling of timber. The Company currently conducts primarily all of its business in five reportable operating segments: 1) residential real estate, 2) commercial real estate, 3) resorts, leisure and leasing operations, 4) forestry and 5) rural land. In prior periods the Company’s reportable operating segments were residential real estate, commercial real estate, rural land and forestry. The Company’s resorts and clubs operating segment currently meets the qualitative and quantitative factors as a reportable operating segment; therefore, the Company has changed its segment presentation to include resorts, leisure and leasing operations as a reportable operating segment. This segment includes the Company’s previous resorts and clubs financial information, which was previously presented in residential real estate. It also includes our leasing operations, which were previously presented in both our residential real estate and Commercial real estate segments. The Company has combined the leasing operations with resorts and leisure because they are all reported as recurring revenue streams. All prior year segment information has been restated to conform with the 2012 presentation. The change in reportable operating segments has no effect on the Company’s consolidated financial position, results of operations or cash flows for the periods presented. See Note 18, Segments. |
| X | ||||||||||
|
- Definition
The entire disclosure for the nature of an entity's business, the major products or services it sells or provides and its principal markets, including the locations of those markets. If the entity operates in more than one business, the disclosure also indicates the relative importance of its operations in each business and the basis for the determination (for example, assets, revenues, or earnings). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Significant Accounting Policies
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2012
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Significant Accounting Policies | 2. Significant Accounting Policies Basis of Presentation and Principles of Consolidation The consolidated financial statements include the accounts of the Company and all of its majority-owned and controlled subsidiaries. Investments in joint ventures and limited partnerships in which the Company does not have majority voting control are accounted for by the equity method. All significant intercompany transactions and balances have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current period’s presentation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates and assumptions including investments in real estate, impairment assessments, pension plan asset and obligation, retained interest investment, accruals, valuation of standby guarantee liability and deferred taxes. Actual results could differ from those estimates. Real estate impairment analyses are particularly dependent on the projected pricing and capital expenditures as well as estimated holding and selling period, which are based on management’s current intent for the use and disposition of each property. Fair value estimates of properties used to support measurement of an impairment may be derived either from discounting projected cash flows at an appropriate discount rate, through appraisals, or a combination of both, all of which are subject to estimates. Because of the weakened economy and market conditions in the Florida, national real estate markets, and credit markets, it is possible that the estimates and assumptions, most notably those involving the Company’s investment in real estate, could change materially and influence changes in strategy during the time span associated with the continued weakened state of these real estate markets and financial markets, respectively.
Revenue Recognition Revenues consist primarily of real estate sales, resort, leisure and leasing operations, and timber sales. Taxes collected from customers and remitted to governmental authorities (e.g. sales tax) are excluded from revenues and costs and expenses. Real estate sales Revenues from real estate sales, including sales of rural land, residential homes (including detached single-family and attached townhomes) and homesites, and commercial buildings, are recognized when a sale is closed and title transfers to the buyer, the buyer’s initial investment is adequate, any receivables are probable of collection, the usual risks and rewards of ownership have been transferred to the buyer, and the Company does not have significant continuing involvement with the real estate sold. The buyer’s minimum initial investment requirement is typically the receipt of cash for approximately twenty to twenty-five percent of the sales value depending on the type and use of the property purchased. If the minimum initial investment requirement is not met the installment method is applied. In addition, revenue is not recognized until title transfers to the buyer and any consideration received is deferred until title is transferred. Percentage-of-completion accounting, where revenue is recognized in proportion to the percentage of total costs incurred in relation to estimated total costs, is used for our homesite sales when required development is not complete at the time of sale and for commercial and other land sales if there are uncompleted development costs yet to be incurred for the property sold. Brokerage fees are recorded as the services are provided. Resort, leisure and leasing revenues Resort, leisure and leasing revenues include service and rental fees associated with the WaterColor Inn, WaterColor, WaterSound Beach vacation rental programs and other resort, golf club and marina operations. These revenues are generally recognized as services are provided. Vacation rental revenues include the entire rental fee collected from the customer. The amount remitted to the homeowner, less the Company’s commission, is presented in cost of resorts, leisure and leasing operations, since the Company is the primary obligor, establishes the price, and performs the majority of the service provided. Golf membership revenues are recognized when billed to the member and the non-refundable initiation fee is deferred and recognized ratably over the membership period. Operating revenues also consist of long term rental revenues, which are recognized as earned, using the straight-line method over the life of the lease. Certain leases provide for tenant occupancy during periods for which no rent is due or where minimum rent payments change during the lease term. Accordingly, a receivable is recorded representing the difference between the straight-line rent and the rent that is contractually due from the tenant. Tenant reimbursements are included in rental revenues. Minimum future rents on non-cancelable leases for the next five years are $3.0 million in 2013, $3.0 million in 2014, $2.8 million in 2015, $2.7 million in 2016, and $2.4 million in 2017. Forestry product sales and Timber deed sales Revenues from sales of forestry products are recognized generally on delivery of the product to the customer. Timber deed sales are agreements in which the buyer agrees to purchase and harvest specified timber (i.e. mature pulpwood and/or sawlogs) on a tract of land over the term of the contract. Unlike a pay-as-cut sales contract, risk of loss and title to the trees transfer to the buyer when the contract is signed. The buyer pays the full purchase price when the contract is signed and the Company does not have any additional performance obligations. Under a timber deed, the buyer or some other third party is responsible for all logging and hauling costs, if any, and the timing of such activity. Revenue from a timber deed sale is recognized when the contract is signed because the earnings process is complete. In March 2011, the Company entered into a $55.9 million agreement with an investment fund for the sale of timber deeds which gives the investment fund the right to harvest timber on specific tracts of land (encompassing 40,975 acres) over a maximum term of 20 years. Pursuant to the agreement, the Company entered into timber deed conveying ownership of the trees to the buyer but retaining ownership of the underlying land. Concurrently with the execution of the timber deeds, the Company entered into a Thinnings Supply Agreement. Thinning is the initial cutting and removal of smaller trees and undergrowth in an area. Pursuant to the Thinnings Supply Agreement, to the extent that the buyer decides to thin tracks of timber conveyed to it pursuant to the timber deeds, the Company agreed to purchase 85% of the first thinnings (“First Thinnings”). The Company believes that the impact on revenue and net margin in any period during the duration of the Thinnings Supply Agreement will be immaterial. In 2011 the Company recognized $54.5 million in revenue related to the timber deeds with $1.4 million recorded as an imputed land lease to be recognized over the life of the timber deeds. The Company purchased approximately $0.9 million and $1.2 million, of First Thinnings during 2012 and 2011, respectively. Comprehensive Income (Loss) The Company’s comprehensive income (loss) includes amounts due to the changes in the funded status of the Company’s pension plan that are initially recognized in Other comprehensive income (loss) and are typically amortized into net income (loss) over a period of time or recognized at the time of a specific event, such as a curtailment or settlement of benefit plan obligations. See Note 17, Employee Benefit Plans. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, bank demand accounts and money market instruments having original maturities at acquisition date of ninety days or less. In addition, cash equivalents include certificates of deposit that are readily convertible to cash. Accounts and Notes Receivable Substantially all of the Company’s trade accounts receivable and notes receivable are due from customers located within the United States. The Company evaluates the carrying value of trade accounts receivable and notes receivable at each reporting date. Notes receivable balances are adjusted to net realizable value based upon a review of entity specific facts or when terms are modified. The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. The allowance for doubtful accounts is based on a review of specifically identified accounts in addition to an overall aging analysis. Judgments are made with respect to the collectability of accounts based on historical experience and current economic trends. Actual losses could differ from those estimates. Investment in Real Estate The Company capitalizes costs directly associated with development and construction of identified real estate projects. The Company also capitalizes those indirect costs that relate to the projects under development or construction. These indirect costs include construction/development administration, legal fees, interest, and project administration to the extent that such costs are related to a specific project. Interest is capitalized (up to total interest expense) based on the amount of underlying expenditures and real estate taxes on real estate projects under development. Real estate inventory costs also include land and common development costs (such as roads, sewers and amenities), multi-family construction costs, capitalized property taxes, capitalized interest and certain indirect costs. A portion of real estate inventory costs and estimates for costs to complete are allocated to each unit based on the relative sales value of each unit as compared to the estimated sales value of the total project. These estimates are reevaluated at least annually and more frequently if warranted by market conditions or other factors, with any adjustments being allocated prospectively to the remaining units available for sale. The capitalization period relating to direct and indirect project costs is the period in which activities necessary to ready a property for its intended use are in progress. The period begins when such activities commence, typically when the Company begins the entitlement processes for land already owned, and ends when the asset is substantially complete and ready for its intended use. Determination of when construction of a project is substantially complete and ready for its intended use requires judgment. The Company determines when the capitalization period begins and ends through communication with project and other managers responsible for the tracking and oversight of individual projects. In the event that the activities to ready the asset for its intended use are suspended, the capitalization period will cease until such activities are resumed. If the Company determines not to complete a project, any previously capitalized costs are expensed in the period in which the determination is made and recovery is not deemed reasonable. Investment in real estate is carried at cost, net of depreciation and timber depletion, unless circumstances indicate that the carrying value of the assets may not be recoverable. If the Company determines that an impairment exists due to the inability to recover an asset’s carrying value, an impairment charge is recorded to the extent that the carrying value exceeds estimated fair value. If such assets were held for sale, the provision for loss would be recorded to the extent that the carrying value exceeds estimated fair value less costs to sell. Depreciation is computed on straight-line method over the useful lives of the assets ranging from 15 to 40 years. Long-Lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Long-lived assets include the Company’s investments in operating, development and investment property. Some of the events or changes in circumstances that are considered by the Company as indicators of potential impairment include:
Homesites substantially completed and ready for sale are measured at the lower of carrying value or fair value less costs to sell. Management identifies homesites as being substantially completed and ready for sale when the properties are being actively marketed with intent to sell such properties in the near term and under current market conditions. Other homesites for which management does not intend to sell in the near term under current market conditions are evaluated for impairment based on management’s best estimate of the long-term use and eventual disposition of such property. For projects under development, an estimate of undiscounted future cash flows is performed using estimated future expenditures necessary to develop and maintain the existing project and using management’s best estimates about future sales prices and holding periods. The projection of undiscounted cash flows requires that management develop various assumptions including:
For operating properties, an estimate of undiscounted cash flows also requires management to make assumptions about the use and disposition of such properties. These assumptions include:
Other properties that management does not intend to sell in the near term under current market conditions and has the ability to hold are evaluated for impairment based on management’s best estimate of the long-term use and eventual disposition of the property. The results of impairment analyses for development and operating properties are particularly dependent on the estimated holding and selling period for each asset group. As a result of the Company’s risk-adjusted investment return criteria, these future holding periods were reduced to a maximum period of 13 years in January 2012. The Company will use specific holding periods for new projects, which may include longer holding periods. The Company classifies the assets and liabilities of a long-lived asset as held-for-sale when management approves and commits to a formal plan of sale and it is probable that a sale will be completed. The carrying value of the assets held-for-sale are then recorded at the lower of their carrying value or fair market value less costs to sell. Timber Inventory The Company estimates its standing timber inventory on an annual basis utilizing a process referred to as a “timber cruise.” Specifically, the Company conducts field observations of the number of trees, tree height and tree diameter on a sample area equal to approximately 20% of our timber holdings each year. To estimate volume in areas that were not subject to field observations in the current year, the Company either uses prior timber cruise data and growth models to estimate the current inventory, or applies current timber cruise data from a portion of its timberlands to areas of similar species, age class and land productivity profile. The key assumptions in this process are annual growth models and volume formulas used to translate height and diameter information to volume measurements. The Company’s timber inventory estimates are updated to account for harvesting activities, timberland acquisitions and divestitures, biological growth, new timber cruise data and natural disturbances (e.g. fire, disease, or weather events), among other factors.
Depletion of timber is determined by the units of production method, whereby capitalized timber costs are accumulated and expensed as units are sold. Property and Equipment, net Property and equipment, net are stated at cost, net of accumulated depreciation. Major improvements are capitalized while maintenance and repairs are expensed in the period the cost is incurred. Depreciation is computed using the straight-line method over the useful lives of various assets, generally three to thirty years. Income Taxes The Company follows the asset and liability method of accounting for deferred income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense and penalties in Other income (expense), net. Concentration of Risks and Uncertainties The Company’s real estate investments are concentrated in the State of Florida, particularly Northwest Florida in a number of specific development projects. Uncertainty of the duration of the weakened economy could have an adverse impact on the Company’s real estate values and could cause the Company to sell assets at depressed values in order to pay ongoing expenses. Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash, cash equivalents, notes receivable, investments in retained interests and pledged securities held as collateral for payment of the in-substance defeased debt. The Company deposits and invests excess cash with major financial institutions in the United States. Balances exceed the amount of insurance provided on such deposits. Some of the Company’s notes receivable are from homebuilders and other entities associated with the real estate industry. As with many entities in the real estate industry, revenues have contracted for these companies, and they may be increasingly dependent on their lenders’ continued willingness to provide funding to maintain ongoing liquidity. The Company evaluates the need for an allowance for doubtful notes receivable at each reporting date. Smurfit-Stone’s Panama City mill is the largest consumer of pine Pulpwood logs within the immediate area in which most of the Company’s timberlands are located. In July of 2010, Smurfit-Stone emerged from approximately 18 months of bankruptcy protection, and during the first quarter of 2011, RockTenn announced its acquisition of Smurfit-Stone. Deliveries made by St. Joe during Smurfit-Stone’s bankruptcy proceedings were uninterrupted and payments were made on time. Under the terms of the supply agreement, Smurfit-Stone and its successor RockTenn would be liable for any monetary damages as a result of the closure of the mill due to economic reasons for a period of one year. Nevertheless, if the RockTenn mill in Panama City were to permanently cease operations, the price for the Company’s pulpwood may decline, and the cost of delivering logs to alternative customers could increase. Stock-Based Compensation The Company has offered stock incentive plans whereby awards were granted to certain employees and non-employee directors in the form of restricted shares of the Company’s common stock or options to purchase the Company’s common stock. In 2012, less than 0.1 million restricted stock awards were granted. In addition, in February 2011, 2010 and 2009, the Company granted select executives and other key employees restricted stock awards with vesting based upon the achievement of certain market conditions that are defined as total shareholder return as compared to the total shareholder return of certain peer groups during a three-year performance period. Stock-based compensation cost is measured at the grant date based on the fair value of the award and is typically recognized as expense on a straight-line basis over the requisite service period, which is the vesting period. Upon exercise of stock options or vesting of restricted stock, the Company will issue new common stock. Earnings (loss) Per Share Basic earnings (loss) per share is calculated by dividing net income (loss) by the average number of common shares outstanding for the period. Diluted earnings (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding for the period, including all potentially dilutive shares issuable under outstanding stock options. Stock options are not considered in any diluted earnings per share calculation when the Company has a loss from operations. Non-vested restricted stock is included in outstanding shares at the time of grant; therefore, they are not considered in the calculation for diluted earnings (loss) per share. For the years ended December 31, 2012, 2011 and 2010, basic average shares outstanding were the same as diluted shares outstanding. Less than approximately 0.1 million of stock options during the years ended December 31, 2012, 2011 and 2010 were excluded from the computation of diluted earnings (loss) per share as the effect would have been anti-dilutive. Recently Adopted Accounting Pronouncements Presentation of Comprehensive Income On January 1, 2012, the Company adopted an accounting standards update (“ASU”) that require an entity to present either (1) a single statement of comprehensive income or loss or (2) a separate statement of comprehensive income or loss that immediately follows a statement of income or loss. A single statement of comprehensive income or loss is comprised of a statement of income or loss with other comprehensive income and losses, total other comprehensive income or loss, and total comprehensive income or loss appended. A separate statement of comprehensive income or loss is comprised of net income or loss, other comprehensive income and losses, total other comprehensive income or loss, and total comprehensive income or loss. Furthermore, the ASU prohibits an entity from presenting other comprehensive income and losses in a statement of equity only. The adoption of the ASU resulted in the addition of the Consolidated Statements of Comprehensive Income to the Company’s Condensed Consolidated Financial Statements. Amendments to Fair Value Measurement Requirements On January 1, 2012, the Company adopted an ASU that requires additional fair value measurement disclosures. For fair value measurements that use significant unobservable inputs, quantitative disclosures of the inputs and qualitative disclosures of the valuation processes are required. For items not measured at fair value in the balance sheet but whose fair value is disclosed, disclosures of the fair value hierarchy level, the fair value measurement techniques used, and the inputs used in the fair value measurements are required. In addition, the ASU permits an entity to measure the fair value of a portfolio of financial instruments based on the portfolio’s net position, if the portfolio has met certain criteria. Furthermore, the ASU refines when an entity should, and should not, apply certain premiums and discounts to a fair value measurement. The adoption of the ASU is reflected in Note 13, Fair Value Measurements below and did not have a material impact on the Company’s Consolidated Financial Statements. |
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The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Impairments of Long-lived Assets
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| Impairments of Long-lived Assets | 3. Impairments of Long-lived Assets In December 2012, the Company entered into agreement with the Northwest Florida Beaches International Airport (“Airport”), which the Company agreed to cease operating its covered airport parking for a period of seven years, which in turn the Airport released the Company from a twenty-eight year remaining land lease on a different land parcel with approximately $4.2 million of total future payments. As a result of ceasing operations at the covered airport parking the future estimated undiscounted cash flows did not cover the current carrying value of the covered airport parking; thus the Company wrote the covered airport parking facility down to its current fair value based on a current property appraisal and recorded an impairment charge of $2.6 million in 2012. In January 2012, the Company adopted a new real estate investment strategy, which is focused on reducing future capital outlays and employing new risk-adjusted investment return criteria for evaluating its properties and future investments in such properties. Pursuant to this new strategy, the Company intends to significantly reduce planned future capital expenditures for infrastructure, amenities, master planned community development and reposition certain assets to encourage increased absorption of such properties in their respective markets. As part of this repositioning, the Company expects properties may be sold in bulk, in undeveloped or developed parcels or at lower price points and over shorter time periods. In connection with implementing this new real estate strategy in 2011, which the Company continued in 2012, management reassessed its impairment analysis for its investments in real estate using updated assumptions from the strategy change to determine estimated future cash flows on an undiscounted basis. These future cash flows were adjusted to consider the following items:
For select projects this resulted in a negative impact to the undiscounted cash flows primarily as follows:
Based on the results of undiscounted cash flow analysis for these projects, the future undiscounted cash flows were not adequate to recover the carrying value of real estate totaling $466.2 million and an impairment was required in 2011. Fair value of these properties was derived primarily through third party appraisals of the underlying projects. As a result, impairment charges of $374.8 million were recorded during the fourth quarter of 2011 to reduce the carrying value of the impaired communities to their estimated fair value of $91.4 million at December 31, 2011.
Earlier in 2011, the Company recorded approximately $2.5 million in additional impairment charges on other investments in real estate as a result of triggering events associated with those real estate investments. During 2010, the continued decline in demand and market prices for real estate caused the Company to reevaluate its carrying amounts for investments in real estate. The Company recorded approximately $4.3 million in impairment charges on homes and homesites and recorded $3.8 million impairment in its investment in East San Marco L.L.C., a joint venture located in Jacksonville, Florida. |
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- Definition
The entire disclosure for the details of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Disclosure may also include a description of the impaired asset and facts and circumstances leading to the impairment, amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired asset is reported. No definition available.
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Investment in Real Estate
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| Investment in Real Estate | 4. Investment in Real Estate Investment in real estate as of December 31, 2012 and 2011 consisted of the following:
Resorts, leisure and leasing operating property includes the WaterColor Inn, golf courses, marinas, and property developed by the Company and used for residential and commercial rental purposes. Forestry operating property includes the Company’s timberlands. Development property consists of residential and commercial real estate land and inventory currently under development to be sold, including Company-owned amenities related to residential real estate development. Investment property includes the Company’s land held for future use that has not been allocated to a specific project. See Note 3, Impairments of Long-lived Assets for further discussion regarding impairment charges the Company recorded in its residential real estate, commercial real estate and resorts, leisure and leasing operations segments during 2012, 2011 and 2010.
The Company capitalized indirect costs of less than $0.1 million, consisting primarily of marketing expenditures, in 2012. The Company capitalized internal development costs, which consist solely of payroll expenditures of $0.6 million and $0.7 million in 2011 and 2010, respectively. The decrease in capitalized indirect costs in 2012 as compared to 2011 and 2010 is a result of decreased activity in our development program. Depreciation expense related to real estate investments was $5.9 million, $7.8 million, and $8.1 million in 2012, 2011 and 2010, respectively. Depletion expense related to our timber operations was $1.6 million, $4.4 million, and $1.4 million in 2012, 2011 and 2010, respectively. |
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- Definition
The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Investment in Unconsolidated Affiliates
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| Investment in Unconsolidated Affiliates | 5. Investment in Unconsolidated Affiliates Investments in unconsolidated affiliates, included in real estate investments, are recorded using the equity method of accounting and, as of December 31, 2012 and 2011 consisted of the following:
Summarized financial information for the unconsolidated investments on a combined basis is as follows:
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- Definition
The entire disclosure for the information summarizing investments in and advances to majority-owned subsidiaries, other controlled companies, and other affiliates. It reflects specified information about ownership, financial results from, and financial position in such entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Notes Receivable, net
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| Notes Receivable, net | 6. Notes Receivable, net Notes receivable at December 31, 2012 and 2011 consisted of the following:
The Company evaluates the carrying value of the notes receivable and the need for an allowance for doubtful notes receivable at each reporting date. Notes receivable balances are adjusted to net realizable value based upon a review of entity specific facts or when terms are modified. In addition, the Company renegotiated terms related to certain other builder notes receivable during 2010 and as a result recorded an impairment charge of $0.5 million in 2010. |
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- Definition
The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Pledged Treasury Securities
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Dec. 31, 2012
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| Pledged Treasury Securities | 7. Pledged Treasury Securities In connection with a sale of a commercial building in 2007, the Company completed an in-substance defeasance of approximately $29.3 million of mortgage debt that was collateralized by the commercial building. The Company assigned the mortgage debt and deposited sufficient funds with a trustee solely to satisfy the principal and remaining interest obligations on the mortgage debt when due. The interest yield on the pledged securities and the interest expense on the debt are closely related. The transaction did not qualify as an extinguishment of debt, since the Company is responsible if there would be a shortfall in the funds deposited into the trust, which are invested in government backed securities. The trust is not in the Company’s control and the trustee cannot sell the securities prior to maturity. As such, the government backed securities and the related debt (see Note 12, Debt) remain on the Company’s Consolidated Balance Sheets at December 31, 2012 and 2011. The government backed securities are recorded as Pledged treasury securities on the Company’s Consolidated Balance Sheets and are classified as held-to-maturity because the Company has both the intent and the ability since it is a contractual obligation of the assuming entity to hold the securities to maturity. Accordingly, the Company has recorded the pledged treasury securities at cost, adjusted for the amortization of a discount. In 2012, the Company determined that it had not correctly amortized the discount on the pledged treasury securities and the corresponding defeased mortgage debt and corrected for this at December 31, 2012 with no impact to the Consolidated Statement of Operations. The Company evaluated the effects of the correction and it was determined that the effects of the errors are not material to its Consolidated Financial Statements for the year ended December 31, 2012 or to any individual periods prior to 2012. |
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- Definition
Pledged Treasury Securities. No definition available.
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Property and Equipment, net
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Dec. 31, 2012
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| Property and Equipment, net | 8. Property and Equipment, net Property and equipment, net consisted of the following as of December 31, 2012 and 2011:
Depreciation expense from operations on property and equipment was $2.4 million in 2012, $2.8 million in 2011, and $3.4 million in 2010. |
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- Definition
The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Retained Interest Investments
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12 Months Ended |
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Dec. 31, 2012
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| Retained Interest Investments | 9. Retained Interest Investments During 2008 and 2007, the Company sold 132,055 acres of timberland in exchange for fifteen year installment notes receivables in the aggregate amount of $183.3 million. The installment notes are fully backed by irrevocable letters of credit issued by Wachovia Bank, N.A. (now a subsidiary of Wells Fargo & Company). The Company contributed the installment notes to bankruptcy remote qualified special purpose entities (the “entities”). During 2008 and 2007, the entities monetized $183.3 million of installment notes by issuing debt securities to third party investors equal to approximately 90% of the value of the installment notes. The Company received approximately $163.0 million in net proceeds during 2008 and 2007. The debt securities are payable solely out of the assets of the entities and proceeds from the letters of credit. The investors in the entities have no recourse against the Company for payment of the debt securities or related interest expense. The entities’ financial position and results of operations are not consolidated in the Company’s financial statements, since the Company is not the primary decision maker with respect to activities that could significantly impact the economic performance of the entities, nor does the Company perform any service activity related to the entities. At the time of monetization the initial retained interest recorded was an estimate based on the present value of future excess cash flows expected to be received over the life of the retained interest, using management’s best estimate of underlying assumptions, including credit risk and discount rates. The Company’s continuing involvement with the entities is the receipt of the net interest payments and the remaining principal at the end of the note’s fifteen year maturity period, in 2022 through 2024. As of December 31, 2012 and 2011, the Company had a retained interest investment balance of $9.5 million and $10.7 million, respectively, recorded in Other assets on the Company’s Consolidated Balance Sheets. The Company has classified its retained interest investment as held-to-maturity because the Company has both the intent and the ability to hold its interest in the entities to maturity. Accordingly, the Company has recorded the retained interest investment at cost, adjusted for the accretion of investment income over the life of the retained interest using the effective yield method with rates ranging from 3.7%-11.9%. The Company continues to update the expectation of cash flows to be collected over the term of the retained interest. Changes to the previously projected cash flows are accounted for prospectively, unless based on management’s assessment of current information and events, it is determined that there is an other-than-temporary impairment. The Company has not recorded an other-than-temporary impairment related to its retained interest in 2012, 2011 and 2010.
In the event of a failure and liquidation of the counterparties involved in the installment sales, the Company could be required to write-off the remaining retained interest recorded on its consolidated balance sheets in connection with the installment sale monetization transactions. |
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- Definition
The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. No definition available.
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Restructuring
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Dec. 31, 2012
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| Restructuring | 10. Restructuring In February 2011, the Company entered into a Separation Agreement with Wm. Britton Greene in connection with his resignation as President, Chief Executive Officer and director of the Company. In April 2011, the Company entered into separation agreements with four additional members of senior management. Additionally, certain other employees were terminated pursuant to the Company’s 2011 restructuring program. In connection with these terminations, the Company expensed $10.9 million during 2011. During 2010, the Company relocated its corporate headquarters from Jacksonville, Florida to WaterSound, Florida. The Company also consolidated other existing offices from Tallahassee, Port St. Joe and Walton County into the WaterSound location. During 2009, the Company implemented a restructuring plan to align employee headcount with the Company’s projected workload. The 2009 restructuring expense primarily included severance benefits related to the departure of three senior executives. Termination benefits are comprised of severance-related payments for all employees terminated in connection with the restructuring. A summary of the charges incurred and reserves recorded in connection with the restructuring and relocation programs by segment during 2012 and 2011 as follows:
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- Definition
The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accrued Liabilities and Deferred Credits
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Dec. 31, 2012
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| Accrued Liabilities and Deferred Credits | 11. Accrued Liabilities and Deferred Credits Accrued liabilities and deferred credits as of December 31, 2012 and 2011 consist of the following:
Deferred revenue at December 31, 2012 and 2011 includes $23.5 million related to a 2006 sale of approximately 3,900 acres of rural land to the Florida Department of Transportation. Revenue is recognized when title to a specific parcel is legally transferred. As of December 31, 2012, 1,583 acres remain to be transferred. |
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- Definition
Accrued Liabilities And Deferred Credits. No definition available.
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Debt
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Dec. 31, 2012
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| Debt | 12. Debt Debt at December 31, 2012 and 2011 consist of the following:
The aggregate maturities of debt subsequent to December 31, 2012 are (a):
Community Development District (“CDD”) bonds financed the construction of infrastructure improvements at several of the Company’s projects. The principal and interest payments on the bonds are paid by assessments on, or from sales proceeds of, the properties benefited by the improvements financed by the bonds. The Company has recorded a liability for CDD assessments that are associated with platted property, which is the point at which the assessments become fixed or determinable. Additionally, the Company has recorded a liability for the balance of the CDD assessment that is associated with unplatted property if it is probable and reasonably estimable that the Company will ultimately be responsible for repaying either as the property is sold by the Company or when assessed to the Company by the CDD. During 2012, the Company elected to prepay approximately $19.9 million of the CDD recorded assessment obligation. The Company has recorded debt of $9.2 million and $30.2 million related to CDD assessments as of December 31, 2012 and December 31, 2011, respectively. Total outstanding CDD assessments were $34.8 million and $56.8 million at December 31, 2012 and 2011, respectively. In connection with the sale of the Company’s office building portfolio in 2007, the Company completed an in-substance defeasance of debt of approximately $29.3 million of mortgage debt, which has a final balloon payment in 2015. The Company purchased treasury securities sufficient to satisfy the scheduled interest and principal payments contractually due under the mortgage debt agreement. These securities were placed into a collateral account for the sole purpose of funding the principal and interest payments as they become due. The indebtedness remains on the Company’s Consolidated Balance Sheets at December 31, 2012 and 2011 since the transaction was not considered to be an extinguishment of debt because the Company is liable if, for any reason, the government securities are insufficient to repay the debt. Also see Note 7, Pledged Treasury Securities. |
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- Definition
The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value Measurements
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Dec. 31, 2012
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| Fair Value Measurements | 13. Fair Value Measurements The Company measured its plan assets at fair value on a recurring basis each annual reporting period. Investments in real estate, notes receivable, and retained interest may be recorded at fair value on a nonrecurring basis. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A three-tier fair value hierarchy is established as a basis for considering such assumptions and for inputs used in the valuation methodologies in measuring fair value: Level 1. Observable inputs such as quoted prices in active markets; Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3. Unobservable inputs in which there is little or no market data, such as internally-developed valuation models which require the reporting entity to develop its own assumptions.
Guarantees In October 2009, the Company entered into a strategic alliance agreement with Southwest Airlines to facilitate the commencement of low-fare air service in May 2010 to the Northwest Florida Beaches International Airport (see Note 19, Commitments and Contingencies). The Company agreed to reimburse Southwest Airlines in the form of a guarantee if it incurred losses on its service at the airport during the first three years of service by making specified break-even payments. At inception, the Company measured the associated standby guarantee liability at fair value based upon a discounted cash flow analysis based on management’s best estimates of future cash flows to be paid by the Company pursuant to the strategic alliance agreement. These cash flows were estimated using numerous estimates including future fuel costs, passenger load factors, air fares, and seasonality. Subsequently, the guarantee is measured at the greater of the fair value of the guarantee liability at inception or the amount that is probable and reasonably estimable of occurring. Effective July 1, 2012, the Company and Southwest Airlines mutually agreed to terminate this agreement and the Company eliminated the liability of $0.8 million that was recorded as of December 31, 2011. Long Lived Assets The Company reviews its long lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Homes are measured at lower of carrying value or fair value. The fair value of these homes is determined based upon final sales prices of inventory sold during the period (level 2 inputs) or estimates of selling prices based on current market data (level 3 inputs). Other properties for which management does not intend to sell in the near term or under current market conditions and has the ability to hold are evaluated for impairment based on management’s best estimate of the long-term use and eventual disposition of the property (level 3 inputs) For projects under development, an estimate of future cash flows on an undiscounted basis is performed using estimated future expenditures necessary to maintain and complete the existing project, including infrastructure and amenity costs, and using management’s best estimates about future sales prices, sales volumes, sales velocity and holding periods (level 3 inputs). The estimated length of expected development periods, related economic cycles and inherent uncertainty with respect to these projects such as the impact of changes in development plans including changes in intended use such as whether land is sold in bulk or in individual lots, or is sold in developed or undeveloped condition and the Company’s intent and ability to hold the projects through the development period, could result in changes to these estimates. For operating properties, an estimate of undiscounted cash flows requires management to make similar assumptions about the use and eventual disposition of such properties. The Company uses varying methods to determine fair value, such as (i) analyzing expected future cash flows, (ii) determining resale values by market, or (iii) applying a capitalization rate to net operating income using prevailing rates in a given market. Fair value of a property may be derived either from discounting projected cash flows at an appropriate discount rate (10% to 20%), through appraisals of the underlying property, or a combination thereof.
The Company’s assets measured at fair value on a nonrecurring basis are those assets for which the Company has recorded valuation adjustments and impairments during the year. The Company’s non-financial assets measured at fair value on a nonrecurring basis were as follows at December 31, 2012 and 2011.
In December 2012, the Company entered into agreement with the Airport, which the Company agreed to cease operating its covered airport parking for a period of seven years, which in turn the Airport released the Company from a twenty-eight year remaining land lease on another parcel with approximately $4.2 million of total future payments. As a result of ceasing operations at the covered airport parking the future estimated undiscounted cash flows did not cover the current carrying value of the covered airport parking; thus the Company wrote the covered airport parking facility down to its current fair value based on a current property appraisal. As a result of the Company’s impairment analyses in 2011, investment in real estate with a carrying amount of $471.7 million was written down to fair value of $94.4 million resulting in impairment charges of $377.3 million. Additionally, the Company wrote off a note receivable with a book value of $0.1 million. Fair Value of Financial Instruments The Company uses the following methods and assumptions in estimating fair value for financial instruments:
The carrying amount and fair value of the Company’s financial instruments were as follows (the table below excludes financial instruments with carrying values that approximate their fair values):
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- Definition
The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes
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Dec. 31, 2012
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| Income Taxes | 14. Income Taxes The provision for income tax expense (benefit) for the years ended December 31, 2012, 2011, and 2010 consist of the following:
Total income tax expense (benefit) for the years ended December 31, 2012, 2011, and 2010 was allocated in the consolidated financial statements as follows:
Income tax expense (benefit) attributable to income from operations differed from the amount computed by applying the statutory federal income tax rate of 35% to pre-tax income as a result of the following:
The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities as of December 31, 2012 and 2011 are presented below:
At December 31, 2012 and 2011, the Company had a federal net operating loss carryforward of approximately $83.5 million and $92.0 million and a state net operating loss carry forward of $596.8 million and $612.6 million, respectively. These net operating losses are available to offset future taxable income through 2031. In general, a valuation allowance is recorded if based on the weight of available evidence it is more likely than not that some portion or all of the deferred tax asset will not be realized. Realization of the Company’s deferred tax assets is dependent upon the Company generating sufficient taxable income in future years in the appropriate tax jurisdictions to obtain a benefit from the reversal of deductible temporary differences and from loss carryforwards. Based on the timing of reversal of future taxable amounts and the Company’s recent history of losses and future expectations of reporting taxable losses, management does not believe it met the requirements to realize the benefits of certain of its deferred tax assets and has provided for a valuation allowance of $92.6 million and $95.5 million at December 31, 2012 and 2011, respectively. Included in other deferred tax assets at December 31, 2012 and 2011 is a deferred tax asset recognized in Accumulated other comprehensive income and an offsetting valuation allowance of $3.0 million and $3.8 million, respectively. At December 31, 2012 and 2011, the Company had a valuation allowance of $9.6 million and $10.4 million, respectively related to state net operating losses and charitable contribution carry forwards.
The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various states. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
The Company had approximately $1.7 million of total unrecognized tax benefits as of December 31, 2012 and 2011, respectively. Of this total, there are no amounts of unrecognized tax benefits that, if recognized, would affect the effective income tax rate. There were no penalties required to be accrued at December 31, 2012 or 2011. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. The IRS completed the examination of the Company’s tax returns for 2007, 2008 and 2009 without adjustment. The Company does not currently anticipate that the total amount of unrecognized tax benefits will significantly increase or decrease within the next twelve months for any additional items. |
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- Definition
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Stock Repurchase Program
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12 Months Ended |
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Dec. 31, 2012
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| Stock Repurchase Program | 15. Stock Repurchase Program Through December 31, 2011, the Board of Directors had authorized a total of $950.0 million for the repurchase from time to time of outstanding common stock from shareholders (the “Stock Repurchase Program”). A total of approximately $846.2 million had been expended in the Stock Repurchase Program from its inception through December 31, 2012. There is no expiration date on the Stock Repurchase Program. The Company has repurchased from shareholders 27,945,611 shares and executives surrendered a total of 2,651,238 shares as payment for strike prices and taxes due on exercised stock options and on vested restricted stock units, for a total of 30,596,849 acquired shares from inception of the Stock Repurchase Program through December 31, 2012. During 2012, 2011, and 2010, executives surrendered 9,529, 179,221, and 42,762 shares, respectively, as payment for strike prices and taxes due on exercised stock options and vested restricted stock. On December 31, 2011, the Company cancelled and retired 30,497,699 shares of treasury stock resulting in an allocation based upon weighted average issuance price which reduced common stock by $51.1 million and retained earnings by $885.1 million. |
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- Definition
Stock Repurchase Program. No definition available.
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Stock-Based Compensation
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Dec. 31, 2012
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| Stock-Based Compensation | 16. Stock-Based Compensation Stock Options and Non-vested Restricted Stock The Company previously offered a stock incentive plan whereby awards were granted to certain employees and non-employee directors of the Company in various forms including restricted shares of Company common stock and options to purchase Company common stock. Awards were discretionary and were determined by the Compensation Committee of the Board of Directors. Awards vested based upon service conditions. Option and share awards provided for accelerated vesting if there was a change in control (as defined in the award agreements). Non-vested restricted shares generally vested over requisite service periods of four years and were considered to be outstanding shares, beginning on the date of each grant. Stock option awards were granted with an exercise price equal to market price of the Company’s stock on the date of grant. No stock options were granted in 2012, 2011 or 2010. As of December 31, 2012, 1.5 million shares remained available for issuance under the 2009 Equity Incentive Plan. The changes to the composition of the Company’s board of directors which occurred during the first quarter of 2011 constituted a “change in control event” under the terms of certain of the Company’s incentive plans. As a result, the Company accelerated the vesting of approximately 300,000 restricted stock units resulting in $6.2 million in accelerated stock compensation expense recognized in the first quarter of 2011. Stock-based compensation cost is measured at the grant date based on the fair value of the award and is typically recognized as expense on a straight-line basis over the requisite service period, which is the vesting period. Upon exercise of stock options or vesting of restricted stock, the Company will issue new common stock. Total stock-based compensation recorded in Corporate expense, net, on the Consolidated Statements of Operations for the three years ended December 31, 2012 is as follows:
The following table sets forth the summary of option activity outstanding under the stock option program for 2012:
The total intrinsic value of options exercised during both 2011 and 2010 was less than $0.1 million. The intrinsic value is calculated as the difference between the market value as of the exercise date and the exercise price of the shares. Shares of Company stock issued upon the exercise of stock options in 2011 and 2010 were 4,000 and 178,886 shares, respectively. No options were exercised during 2012. Cash received for strike prices from options exercised under stock-based payment arrangements for 2011 and 2010 was $0.1 million and $5.1 million, respectively. The actual tax benefit realized for the tax deductions from options exercised under stock-based arrangements totaled zero and $0.4 million, respectively, for 2011 and 2010. The following table sets forth the summary of restricted stock unit activity outstanding under the restricted stock unit program for 2012:
The weighted average grant date fair value of restricted stock units during 2012, 2011 and 2010 was $16.30, $28.01 and $27.86, respectively. In 2012, less than 0.1 million of vested restricted stock awards were granted to the Company’s Chief Executive Officer in lieu of a cash bonus and to certain of the Company’s directors as fees for services rendered. As of December 31, 2012, there was less than $0.1 million of unrecognized compensation cost that will be recognized in the first quarter of 2013. The total fair values of restricted stock units and stock options which vested during the years ended December 31, 2012, 2011 and 2010 was $1.5 million, $9.7 million, and $6.7 million, respectively. Market Condition Grants From time to time the Company has granted to select executives and other key employees restricted stock units whose vesting is based upon the achievement of certain market conditions, which are defined as the Company’s total shareholder return as compared to the total shareholder return of certain peer groups during a three year performance period. The Company used a Monte Carlo simulation pricing model to determine the fair value of its market condition awards. The determination of the fair value of market condition-based awards was affected by the stock price as well as assumptions regarding a number of other variables. These variables include expected stock price volatility over the requisite performance term of the awards, the relative performance of the Company’s stock price and shareholder returns compared to those companies in its peer groups and a risk-free interest rate assumption. Compensation cost is recognized regardless of the achievement of the market condition, provided the requisite service period is met. At December 31, 2011, there were 23,192 restricted stock units granted with market conditions outstanding with a weighted average grant date fair value of $15.69 that vested, forfeited or were cancelled in the first quarter of 2012. |
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- Definition
The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Employee Benefit Plans
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Dec. 31, 2012
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| Employee Benefit Plans | 17. Employee Benefit Plans Pension Plan The Company sponsors a cash balance defined benefit pension plan that covers substantially all of its salaried employees (the “Pension Plan”). Amounts credited to employee accounts in the Pension Plan are based on the employees’ years of service and compensation. The Company complies with the minimum funding requirements of ERISA. The Company’s Compensation Committee approved a plan to terminate the Pension Plan in March 2013, which at that time the Pension Plan will be frozen until final regulatory approvals are received and the Pension Plan’s assets can be distributed to the plan participants, used to pay excise taxes and the remaining assets will revert back to the Company. As a result of the planned termination, the Company recognized a curtailment change of $2.1 million in the Company’s Consolidated Statement of Operations in 2012 and expects to recognize further estimated losses that will significantly affect the Company’s Consolidated Statement of Operations once the final regulatory approvals are received and the Pension Plan assets are distributed, which is expected to occur near the end of 2013 or during 2014. The Company incurred settlement losses and curtailment charges for certain participants totaling $5.9 million in 2011 and $4.1 million in 2010 related to its reduced employment levels in connection with its restructurings. The settlement losses of $1.2 million recognized in 2012 are related to cash distributions made to certain participants.
Obligations and Funded Status Change in projected benefit obligation and plan assets:
The Company recognized a prepaid pension asset of $33.4 million and $35.1 million at December 31, 2012 and 2011, respectively. The accumulated benefit obligation of the Pension Plan was $26.7 million and $25.8 million at December 31, 2012 and 2011, respectively. Amounts not yet reflected in net periodic pension cost and included in accumulated other comprehensive loss at December 31 are as follows:
A summary of the net periodic pension cost and other amounts recognized in other comprehensive loss (income) are as follows:
The estimated amount of the actuarial loss that will be amortized from accumulated other comprehensive income into net periodic pension cost is $0.4 million in 2013. Assumptions Assumptions used to develop end of period benefit obligations:
Assumptions used to develop net periodic pension cost:
To develop the expected long-term rate of return on assets assumption, the Company considered the current level of expected returns on risk free investments (primarily government bonds), the historical level of the risk premium associated with the other asset classes in which the portfolio is invested and the expectations for future returns of each asset class. The expected return for each asset class was then weighted based on the target asset allocation to develop the expected long-term rate of return on assets assumption for the portfolio. This resulted in the selection of the 4.75%, 5.0% and 6.0% assumption in 2012, 2011 and 2010, respectively.
Plan Assets The Company’s investment policy is to maintain over the long-term life of the Pension Plan, an adequate pool of assets to support the benefit obligations to participants, retirees and beneficiaries. In meeting this objective, the Pension Plan seeks the opportunity to achieve an adequate return to fund the obligations in a manner consistent with the fiduciary standards of ERISA and with a prudent level of diversification. Specifically, these objectives include the desire to:
The Company’s overall investment strategy is to achieve a range of 65-95% fixed income investments and 5% -35% equity type investments. Following is a description of the valuation methodologies used for assets measured at fair value at December 31, 2012 and 2011. Common/collective trusts: Valued based on information reported by the investment advisor using the financial statements of the collective trusts at year end. Mutual funds and money market funds: Valued at the net asset value of shares held by the Pension Plan. Other: The other investment consists of a royalty investment for which there is no quoted market price. The fair value of the royalty investment is estimated based on the present value of future cash flows, using management’s best estimate of key assumptions, including historical cash receipts and discount rates. The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. The following tables sets forth by level within the fair value hierarchy: Assets at Fair Value as of December 31, 2012
Assets at Fair Value as of December 31, 2011
The following table sets forth a summary of changes in the fair value of the Plan’s level 3 assets for the year ended December 31, 2012 and 2011:
The Company does not anticipate making any contributions to the plan during 2013. Expected benefit payments for the next ten years are as follows:
Deferred Compensation Plans and ESPP The Company maintains a 401(k) retirement plan covering substantially all officers and employees, which permits participants to defer up to the maximum allowable amount determined by the IRS of their eligible compensation. This deferred compensation, together with Company matching contributions, which generally equal 100% of the first 1% of eligible compensation and 50% on the next 5% of eligible compensation, up to 3.5% of eligible compensation, is fully vested and funded as of December 31, 2012. The Company contributions to the plan were approximately $0.2 million and $0.4 million in 2011 and 2010, respectively. The Company discontinued the matching contributions as of July 1, 2011. In March 2011, the Company’s Supplemental Executive Retirement Plan was combined with the Company’s Pension Plan. |
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- Definition
The entire disclosure for pension and other postretirement benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment Information
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Dec. 31, 2012
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| Segment Information | 18. Segment Information The Company currently conducts primarily all of its business in five reportable operating segments: 1) residential real estate, 2) commercial real estate, 3) resorts, leisure and leasing operations, 4) forestry and 5) rural land. The residential real estate segment generates revenues from the development and sale of homesites. Commercial real estate segment sells undeveloped or developed land. Resorts, leisure and leasing operations generates service revenue and rental fees associated with the WaterColor Inn, WaterColor, WaterSound and WindMark Beach vacation rental programs and other resort, golf club, marina and leasing operations. Rural land sells parcels of land included in the Company’s holdings of timberlands. The forestry segment produces and sells woodfiber, sawtimber and other forest products. The Company’s previous resorts and clubs operating business currently meets the qualitative and quantitative factors as a reportable operating segment; therefore, the Company has changed its segment presentation to include resorts, leisure and leasing operations as a reportable segment. This segment includes the Company’s previous resorts and clubs financial information, which was previously presented in residential real estate. It also includes our leasing operations, which were previously presented in both our residential real estate and Commercial real estate segments. The Company has combined the leasing operations with resorts and leisure because they are all reported as recurring revenue streams. All prior year segment information has been restated to conform with the 2012 presentation. The change in reportable segments has no effect on the Company’s consolidated financial position, results of operations or cash flows for the periods presented. The Company uses income (loss) from operations before equity in loss from unconsolidated affiliates, income taxes and non-controlling interest for purposes of making decisions about allocating resources to each segment and assessing each segment’s performance, which the Company believes represents current performance measures. The accounting policies of the segments are the same as those described above in Note 2, Significant Accounting Policies. Total revenues represent sales to unaffiliated customers, as reported in the Company’s Consolidated Statements of Operations. All intercompany transactions have been eliminated. The caption entitled “Other” consists of non-allocated corporate general and administrative expenses, net of investment income. The Company’s reportable segments are strategic business units that offer different products and services. They are each managed separately and decisions about allocations of resources are determined by management based on these strategic business units.
Information by business segment is as follows:
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- Definition
The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies
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Dec. 31, 2012
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| Commitments and Contingencies | 19. Commitments and Contingencies The Company has obligations under various non-cancelable long-term operating leases for office space and equipment. Some of these leases contain escalation clauses for operating costs, property taxes and insurance. In addition, the Company has various obligations under other office space and equipment leases of less than one year. Total rent expense was $0.1 million, $2.1 million, and $2.0 million for the years ended December 31, 2012, 2011, and 2010, respectively. The future minimum rental commitments under noncancelable long-term operating leases due over the next five years are as follows:
The Company has retained certain self-insurance risks with respect to losses for third party liability, workers’ compensation and property damage. At December 31, 2012 and 2011, the Company was party to surety bonds of $10.3 million and $15.7 million, respectively, and standby letters of credit in the amounts of $1.1 million and $0.8 million, respectively, which may potentially result in liability to the Company if certain obligations of the Company are not met. At December 31, 2012, the Company has a total of $6.7 million in purchase obligations, which $4.5 million are for 2013, $0.3 million are for 2014, $1.2 million are for 2015, and $0.7 million are for 2016. In 2012, the Company entered into a joint venture for the Pier Park North project to develop a retail lifestyle center in Panama City Beach; we will contribute approximately 57 acres of land, with a market value of approximately $6.0 million, and an estimated $9.9 million in cash for the project once construction financing for the project and other conditions are met, which occurred in February 2013. The Company has funded $0.9 million through February 25, 2013. The Company will provide the following: (i) completion guarantee until substantial completion; (ii) principal repayment guarantee limited to 33% of the outstanding balance of the loan; (iii) guarantee covering, among other things, operating deficits and accrued and unpaid interest; and (iv) customary non-recourse covenants covering items like misrepresentation , misappropriation of funds and fraud. In addition the construction loan includes covenants that the Company maintains minimum liquidity, which is defined as unencumbered and unrestricted cash or cash equivalents, of $25 million and net worth, which is defined as total assets, less total liabilities, excluding deferred revenue, of $350 million. In accordance with applicable accounting guidance, the Company establishes an accrued liability for litigation and regulatory matters when those matters present loss contingencies that are both probable and estimable. In such cases, there may be an exposure to loss in excess of any amounts accrued. When a loss contingency is not both probable and estimable, the Company does not establish an accrued liability. As a litigation or regulatory matter develops, the Company, in conjunction with any outside counsel handling the matter, evaluates on an ongoing basis whether such matter presents a loss contingency that is probable and estimable. If, at the time of evaluation, the loss contingency related to a litigation or regulatory matter is not both probable and estimable, the matter will continue to be monitored for further developments that would make such loss contingency both probable and estimable. Once the loss contingency related to litigation or regulatory matter is deemed to be both probable and estimable, the Company will establish an accrued liability with respect to such loss contingency and record a corresponding amount of litigation-related expense. The Company continues to monitor the matter for further developments that could affect the amount of the accrued liability that has been previously established. For matters in which a loss is probable or reasonably possible in future periods, whether in excess of a related accrued liability or where there is no accrued liability, the Company will estimate and disclose this range of possible loss. In determining whether it is possible to provide an estimate of loss or range of possible loss, the Company reviews and evaluates its material litigation and regulatory matters on an ongoing basis, in conjunction with any outside counsel handling the matter, in light of potentially relevant factual and legal developments. These may include information learned through the discovery process, rulings on dispositive motions, settlement discussions, and other rulings by courts, arbitrators or others. In cases in which the Company possesses sufficient appropriate information to develop an estimate of loss or range of possible loss, that estimate is aggregated and disclosed below. There may be other disclosed matters for which a loss is probable or reasonably possible but such an estimate may not be possible. For those matters where an estimate is possible, management currently estimates the aggregate range of possible loss below in excess of the accrued liability (if any) related to those matters. This estimated range of possible loss is based upon currently available information and is subject to significant judgment and a variety of assumptions, and known and unknown uncertainties. The matters underlying the estimated range will change from time to time, and actual results may vary significantly from the current estimate. Those matters for which an estimate is not possible are not included within this estimated range. Therefore, this estimated range of possible loss represents what the Company believes to be an estimate of possible loss only for certain matters meeting these criteria. It does not represent the Company’s maximum loss exposure. Information is provided below regarding the nature of all of these contingencies and, where specified, the amount of the claim associated with these loss contingencies. Based on current knowledge, management does not believe that loss contingencies arising from pending matters, including the matters described herein, will have a material adverse effect on the consolidated financial position or liquidity of the Company. However, in light of the inherent uncertainties involved in these matters, some of which are beyond the Company’s control, and the very large or indeterminate damages sought in some of these matters, an adverse outcome in one or more of these matters could be material to the Company’s results of operations or cash flows for any particular reporting period. During 2011, the Company settled and paid a $9.0 million accrued liability in connection with a contract dispute involving the 1997 purchase of land for its former Victoria Park community.
The Company is subject to costs arising out of environmental laws and regulations, which include obligations to remove or limit the effects on the environment of the disposal or release of certain wastes or substances at various sites, including sites which have been previously sold. It is the Company’s policy to accrue and charge against earnings environmental cleanup costs when it is probable that a liability has been incurred and an amount can be reasonably estimated. As assessments and cleanups proceed, these accruals are reviewed and adjusted, if necessary, as additional information becomes available. The Company’s former paper mill site in Gulf County and certain adjacent property are subject to various Consent Agreements and Brownfield Site Rehabilitation Agreements with the Florida Department of Environmental Protection. The paper mill site has been rehabilitated by Smurfit-Stone Container Corporation in accordance with these agreements. The Company is in the process of assessing the rehabilitation of certain adjacent properties. Management is unable to quantify the rehabilitation costs at this time. The Company believes it is probable a loss will occur related to this matter but is unable to estimate range of loss given the unknown nature of the rehabilitation, if any, at this time. Other proceedings and litigation involving environmental matters are pending against the Company. Aggregate environmental-related accruals were $1.6 million and $1.5 million at December 31, 2012 and 2011, respectively. Although in the opinion of management none of our litigation matters or governmental proceedings is expected to have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows, it is possible that the actual amounts of liabilities resulting from such matters could be material. Management is unable to quantify an aggregate range of possible loss in excess of the accrued liability (if any) related to this matter. On November 3, 2010, a securities class action lawsuit was filed against St. Joe and certain of our current and former officers in the United States District Court for the Northern District of Florida (Meyer v. The St. Joe Company et al., No. 5:11-cv-00027). A consolidated class action complaint was filed in the case on February 24, 2011 alleging various securities laws violations primarily related to our accounting for our real estate assets. The complaint seeks an unspecified amount in damages. We filed a motion to dismiss the case on April 6, 2011, which the court granted without prejudice on August 24, 2011. Plaintiff filed an amended complaint on September 23, 2011. The Company filed a motion to dismiss the amended complaint on October 24, 2011. On January 12, 2012, the Court granted the motion to dismiss with prejudice and entered judgment in favor of St. Joe and the individual defendants. On February 9, 2012, plaintiff filed a motion to alter or amend the judgment, which the Court denied on February 14, 2012. On March 15, 2012, the plaintiff filed a notice of appeal to the United States Court of Appeal for the Eleventh Circuit. On February 25, 2013, the United States Court of Appeals for the Eleventh Circuit filed its decision affirming the trial court’s dismissal of the complaint. On March 29, 2011 and July 21, 2011, two separate derivative lawsuits were filed by shareholders on behalf of St. Joe against certain of its officers and directors in the United States District Court for the Northern District of Florida (Nakata v. Greene et. al., No. 5:11-cv-00090 and Packer v. Greene, et al., No. 3:11-cv-00344). The complaints allege breaches of fiduciary duties, waste of corporate assets and unjust enrichment arising from substantially similar allegations as those described above in the Meyer case. On June 6, 2011, the court granted the parties’ motion to stay the Nakata action pending the outcome of the Meyer action. On September 12, 2011, a third derivative lawsuit was filed in the Northern District of Florida (Shurkin v. Berkowitz, et al., No. 5:11-cv-304) making similar claims as those in the Nakata and Packer actions. On September 16, 2011, plaintiffs in Nakata and Packer filed a joint motion to consolidate all derivative actions and appoint lead counsel. On October 3, 2011, plaintiff in Shurkin filed a cross motion seeking separate lead counsel for Shurkin and coordination of Shurkin with the other derivative cases. On October 6, 2011, the Company filed a response in which it stated that all derivative cases should be consolidated. On October 14, 2011, Nakata and Packer plaintiffs filed an amended joint motion seeking consolidation of those two cases only. On October 21, 2011, the court issued an order consolidating the Nakata and Packer lawsuits. On June 4, 2012, the court granted the parties a motion to stay the Shurkin action pending the outcome of the Meyer action. Further action in the Nakata, Packer, and Shurkin actions await final resolution of the Meyer action discussed above. The Company believes that it has meritorious defenses to the above claims and intends to defend the actions vigorously. The Company believes that the probability of loss related to this litigation and an estimate of the amount of loss, if any, are not determinable at this time. The Company cannot evaluate the likelihood of an unfavorable outcome related to this litigation to be either “probable” or “remote”, nor can they predict the amount or range of possible loss from an unfavorable outcome to give an estimated range. On January 4, 2011 the SEC notified the Company it was conducting an inquiry into the Company’s policies and practices concerning impairment of investment in real estate assets. On June 24, 2011, the Company received notice from the SEC that it has issued a related order of private investigation. The order of private investigation covers a variety of matters for the period beginning January 1, 2007 including (a) the antifraud provisions of the Federal securities laws as applicable to the Company and its past and present officers, directors, employees, partners, subsidiaries, and/or affiliates, and/or other persons or entities, (b) compliance by past and present reporting persons or entities who were or are directly or indirectly the beneficial owner of more than 5% of the Company’s common stock (which includes Fairholme Funds, Inc, Fairholme Capital Management L.L.C. and the Company’s current Chairman Bruce R. Berkowitz) with their reporting obligations under Section 13(d) of the Exchange Act, (c) internal controls, (d) books and records, (e) communications with auditors and (f) financial reports. The order designates officers of the SEC to take the testimony of the Company and third parties with respect to any or all of these matters. The Company believes that the probability of loss related to this matter and an estimate of the amount of loss, if any, are not determinable at this time. The Company cannot evaluate the likelihood of an unfavorable outcome related to this matter to be either “probable” or “remote”, nor can they predict the amount or range of possible loss from an unfavorable outcome to give an estimated range. On October 21, 2009, the Company entered into a strategic alliance agreement with Southwest Airlines to facilitate the commencement of low-fare air service in May 2010 to the Northwest Florida Beaches International Airport. The Company has agreed to reimburse Southwest Airlines if it incurs losses on its service at the new airport during the first three years of service. The agreement also provides that Southwest Airlines’ profits from the air service during the term of the agreement will be shared with the Company up to the maximum amount of its break-even payments. The term of the agreement extends for a period of three years after the commencement of Southwest Airlines’ air service at the new airport. Effective July 1, 2012, the Company and Southwest Airlines mutually agreed to terminate this agreement. In conjunction with the termination of this agreement, the Company recorded $0.8 million of other income in 2012 as a result of eliminating a liability recorded at the inception of the agreement. No payments were due to Southwest Airlines at the effective date of termination. In November, 2010, the Company entered into a new supply agreement with RockTenn that requires the Company to deliver and sell a total of 3.9 million tons of pine pulpwood through December, 2017. Pricing under the agreement approximates market, using a formula based on published regional prices for pine pulpwood. The agreement is assignable by the Company, in whole or in part, to purchasers of its properties, or any interest therein, and does not contain a lien, encumbrance, or use restriction on any of St. Joe’s properties. |
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- Definition
The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Quarterly Financial Data
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Dec. 31, 2012
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| Quarterly Financial Data | 20. Quarterly Financial Data (Unaudited)
Quarterly results included the following significant pre-tax charges:
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- Definition
The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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REAL ESTATE AND ACCUMULATED DEPRECIATION
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Dec. 31, 2012
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| REAL ESTATE AND ACCUMULATED DEPRECIATION | THE ST. JOE COMPANY SCHEDULE III (CONSOLIDATED) — REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2012 (in thousands)
Notes:
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- Definition
The entire disclosure for real estate and accumulated depreciation. This may include a schedule that describes the property and lists the initial cost of land, buildings and improvements, improvements and carrying costs capitalized after acquisition, and the total carrying cost for land, buildings and improvements for each property and in aggregate. The schedule also lists the accumulated depreciation for each property and in aggregate, the date each property was constructed and acquired, the useful life used to calculate depreciation and any encumbrances on the properties. The entity provides a reconciliation of the carrying amount of real estate from the beginning of the period to the end of the period. Any real estate investments that have been written down or reserved against are described, including the basis of the write-down. A material amount of intercompany profit in the total carrying amount of real estate is disclosed. The aggregate cost of all real estate investments for federal income tax purposes is also disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Significant Accounting Policies (Policies)
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Dec. 31, 2012
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| Basis of Presentation and Principles of Consolidation | Basis of Presentation and Principles of Consolidation The consolidated financial statements include the accounts of the Company and all of its majority-owned and controlled subsidiaries. Investments in joint ventures and limited partnerships in which the Company does not have majority voting control are accounted for by the equity method. All significant intercompany transactions and balances have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform to the current period’s presentation. |
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| Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates and assumptions including investments in real estate, impairment assessments, pension plan asset and obligation, retained interest investment, accruals, valuation of standby guarantee liability and deferred taxes. Actual results could differ from those estimates. Real estate impairment analyses are particularly dependent on the projected pricing and capital expenditures as well as estimated holding and selling period, which are based on management’s current intent for the use and disposition of each property. Fair value estimates of properties used to support measurement of an impairment may be derived either from discounting projected cash flows at an appropriate discount rate, through appraisals, or a combination of both, all of which are subject to estimates. Because of the weakened economy and market conditions in the Florida, national real estate markets, and credit markets, it is possible that the estimates and assumptions, most notably those involving the Company’s investment in real estate, could change materially and influence changes in strategy during the time span associated with the continued weakened state of these real estate markets and financial markets, respectively. |
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| Revenue Recognition | Revenue Recognition Revenues consist primarily of real estate sales, resort, leisure and leasing operations, and timber sales. Taxes collected from customers and remitted to governmental authorities (e.g. sales tax) are excluded from revenues and costs and expenses. |
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| Real estate sales | Real estate sales Revenues from real estate sales, including sales of rural land, residential homes (including detached single-family and attached townhomes) and homesites, and commercial buildings, are recognized when a sale is closed and title transfers to the buyer, the buyer’s initial investment is adequate, any receivables are probable of collection, the usual risks and rewards of ownership have been transferred to the buyer, and the Company does not have significant continuing involvement with the real estate sold. The buyer’s minimum initial investment requirement is typically the receipt of cash for approximately twenty to twenty-five percent of the sales value depending on the type and use of the property purchased. If the minimum initial investment requirement is not met the installment method is applied. In addition, revenue is not recognized until title transfers to the buyer and any consideration received is deferred until title is transferred. Percentage-of-completion accounting, where revenue is recognized in proportion to the percentage of total costs incurred in relation to estimated total costs, is used for our homesite sales when required development is not complete at the time of sale and for commercial and other land sales if there are uncompleted development costs yet to be incurred for the property sold. Brokerage fees are recorded as the services are provided. |
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| Resort, leisure and leasing revenues | Resort, leisure and leasing revenues Resort, leisure and leasing revenues include service and rental fees associated with the WaterColor Inn, WaterColor, WaterSound Beach vacation rental programs and other resort, golf club and marina operations. These revenues are generally recognized as services are provided. Vacation rental revenues include the entire rental fee collected from the customer. The amount remitted to the homeowner, less the Company’s commission, is presented in cost of resorts, leisure and leasing operations, since the Company is the primary obligor, establishes the price, and performs the majority of the service provided. Golf membership revenues are recognized when billed to the member and the non-refundable initiation fee is deferred and recognized ratably over the membership period. Operating revenues also consist of long term rental revenues, which are recognized as earned, using the straight-line method over the life of the lease. Certain leases provide for tenant occupancy during periods for which no rent is due or where minimum rent payments change during the lease term. Accordingly, a receivable is recorded representing the difference between the straight-line rent and the rent that is contractually due from the tenant. Tenant reimbursements are included in rental revenues. Minimum future rents on non-cancelable leases for the next five years are $3.0 million in 2013, $3.0 million in 2014, $2.8 million in 2015, $2.7 million in 2016, and $2.4 million in 2017. |
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| Forestry product sales and Timber deed sales | Forestry product sales and Timber deed sales Revenues from sales of forestry products are recognized generally on delivery of the product to the customer. Timber deed sales are agreements in which the buyer agrees to purchase and harvest specified timber (i.e. mature pulpwood and/or sawlogs) on a tract of land over the term of the contract. Unlike a pay-as-cut sales contract, risk of loss and title to the trees transfer to the buyer when the contract is signed. The buyer pays the full purchase price when the contract is signed and the Company does not have any additional performance obligations. Under a timber deed, the buyer or some other third party is responsible for all logging and hauling costs, if any, and the timing of such activity. Revenue from a timber deed sale is recognized when the contract is signed because the earnings process is complete. In March 2011, the Company entered into a $55.9 million agreement with an investment fund for the sale of timber deeds which gives the investment fund the right to harvest timber on specific tracts of land (encompassing 40,975 acres) over a maximum term of 20 years. Pursuant to the agreement, the Company entered into timber deed conveying ownership of the trees to the buyer but retaining ownership of the underlying land. Concurrently with the execution of the timber deeds, the Company entered into a Thinnings Supply Agreement. Thinning is the initial cutting and removal of smaller trees and undergrowth in an area. Pursuant to the Thinnings Supply Agreement, to the extent that the buyer decides to thin tracks of timber conveyed to it pursuant to the timber deeds, the Company agreed to purchase 85% of the first thinnings (“First Thinnings”). The Company believes that the impact on revenue and net margin in any period during the duration of the Thinnings Supply Agreement will be immaterial. In 2011 the Company recognized $54.5 million in revenue related to the timber deeds with $1.4 million recorded as an imputed land lease to be recognized over the life of the timber deeds. The Company purchased approximately $0.9 million and $1.2 million, of First Thinnings during 2012 and 2011, respectively. |
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| Comprehensive Income (Loss) | Comprehensive Income (Loss) The Company’s comprehensive income (loss) includes amounts due to the changes in the funded status of the Company’s pension plan that are initially recognized in Other comprehensive income (loss) and are typically amortized into net income (loss) over a period of time or recognized at the time of a specific event, such as a curtailment or settlement of benefit plan obligations. See Note 17, Employee Benefit Plans. |
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| Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash on hand, bank demand accounts and money market instruments having original maturities at acquisition date of ninety days or less. In addition, cash equivalents include certificates of deposit that are readily convertible to cash. |
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| Accounts and Notes Receivable | Accounts and Notes Receivable Substantially all of the Company’s trade accounts receivable and notes receivable are due from customers located within the United States. The Company evaluates the carrying value of trade accounts receivable and notes receivable at each reporting date. Notes receivable balances are adjusted to net realizable value based upon a review of entity specific facts or when terms are modified. The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. The allowance for doubtful accounts is based on a review of specifically identified accounts in addition to an overall aging analysis. Judgments are made with respect to the collectability of accounts based on historical experience and current economic trends. Actual losses could differ from those estimates. |
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| Investment in Real Estate | Investment in Real Estate The Company capitalizes costs directly associated with development and construction of identified real estate projects. The Company also capitalizes those indirect costs that relate to the projects under development or construction. These indirect costs include construction/development administration, legal fees, interest, and project administration to the extent that such costs are related to a specific project. Interest is capitalized (up to total interest expense) based on the amount of underlying expenditures and real estate taxes on real estate projects under development. Real estate inventory costs also include land and common development costs (such as roads, sewers and amenities), multi-family construction costs, capitalized property taxes, capitalized interest and certain indirect costs. A portion of real estate inventory costs and estimates for costs to complete are allocated to each unit based on the relative sales value of each unit as compared to the estimated sales value of the total project. These estimates are reevaluated at least annually and more frequently if warranted by market conditions or other factors, with any adjustments being allocated prospectively to the remaining units available for sale. The capitalization period relating to direct and indirect project costs is the period in which activities necessary to ready a property for its intended use are in progress. The period begins when such activities commence, typically when the Company begins the entitlement processes for land already owned, and ends when the asset is substantially complete and ready for its intended use. Determination of when construction of a project is substantially complete and ready for its intended use requires judgment. The Company determines when the capitalization period begins and ends through communication with project and other managers responsible for the tracking and oversight of individual projects. In the event that the activities to ready the asset for its intended use are suspended, the capitalization period will cease until such activities are resumed. If the Company determines not to complete a project, any previously capitalized costs are expensed in the period in which the determination is made and recovery is not deemed reasonable. Investment in real estate is carried at cost, net of depreciation and timber depletion, unless circumstances indicate that the carrying value of the assets may not be recoverable. If the Company determines that an impairment exists due to the inability to recover an asset’s carrying value, an impairment charge is recorded to the extent that the carrying value exceeds estimated fair value. If such assets were held for sale, the provision for loss would be recorded to the extent that the carrying value exceeds estimated fair value less costs to sell. Depreciation is computed on straight-line method over the useful lives of the assets ranging from 15 to 40 years. |
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| Long-Lived Assets | Long-Lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Long-lived assets include the Company’s investments in operating, development and investment property. Some of the events or changes in circumstances that are considered by the Company as indicators of potential impairment include:
Homesites substantially completed and ready for sale are measured at the lower of carrying value or fair value less costs to sell. Management identifies homesites as being substantially completed and ready for sale when the properties are being actively marketed with intent to sell such properties in the near term and under current market conditions. Other homesites for which management does not intend to sell in the near term under current market conditions are evaluated for impairment based on management’s best estimate of the long-term use and eventual disposition of such property. For projects under development, an estimate of undiscounted future cash flows is performed using estimated future expenditures necessary to develop and maintain the existing project and using management’s best estimates about future sales prices and holding periods. The projection of undiscounted cash flows requires that management develop various assumptions including:
For operating properties, an estimate of undiscounted cash flows also requires management to make assumptions about the use and disposition of such properties. These assumptions include:
Other properties that management does not intend to sell in the near term under current market conditions and has the ability to hold are evaluated for impairment based on management’s best estimate of the long-term use and eventual disposition of the property. The results of impairment analyses for development and operating properties are particularly dependent on the estimated holding and selling period for each asset group. As a result of the Company’s risk-adjusted investment return criteria, these future holding periods were reduced to a maximum period of 13 years in January 2012. The Company will use specific holding periods for new projects, which may include longer holding periods. The Company classifies the assets and liabilities of a long-lived asset as held-for-sale when management approves and commits to a formal plan of sale and it is probable that a sale will be completed. The carrying value of the assets held-for-sale are then recorded at the lower of their carrying value or fair market value less costs to sell. |
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| Timber Inventory | Timber Inventory The Company estimates its standing timber inventory on an annual basis utilizing a process referred to as a “timber cruise.” Specifically, the Company conducts field observations of the number of trees, tree height and tree diameter on a sample area equal to approximately 20% of our timber holdings each year. To estimate volume in areas that were not subject to field observations in the current year, the Company either uses prior timber cruise data and growth models to estimate the current inventory, or applies current timber cruise data from a portion of its timberlands to areas of similar species, age class and land productivity profile. The key assumptions in this process are annual growth models and volume formulas used to translate height and diameter information to volume measurements. The Company’s timber inventory estimates are updated to account for harvesting activities, timberland acquisitions and divestitures, biological growth, new timber cruise data and natural disturbances (e.g. fire, disease, or weather events), among other factors.
Depletion of timber is determined by the units of production method, whereby capitalized timber costs are accumulated and expensed as units are sold. |
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| Property and Equipment, net | Property and Equipment, net Property and equipment, net are stated at cost, net of accumulated depreciation. Major improvements are capitalized while maintenance and repairs are expensed in the period the cost is incurred. Depreciation is computed using the straight-line method over the useful lives of various assets, generally three to thirty years. |
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| Income Taxes | Income Taxes The Company follows the asset and liability method of accounting for deferred income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. The Company records interest related to unrecognized tax benefits in interest expense and penalties in Other income (expense), net. |
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| Concentration of Risks and Uncertainties | Concentration of Risks and Uncertainties The Company’s real estate investments are concentrated in the State of Florida, particularly Northwest Florida in a number of specific development projects. Uncertainty of the duration of the weakened economy could have an adverse impact on the Company’s real estate values and could cause the Company to sell assets at depressed values in order to pay ongoing expenses. Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash, cash equivalents, notes receivable, investments in retained interests and pledged securities held as collateral for payment of the in-substance defeased debt. The Company deposits and invests excess cash with major financial institutions in the United States. Balances exceed the amount of insurance provided on such deposits. Some of the Company’s notes receivable are from homebuilders and other entities associated with the real estate industry. As with many entities in the real estate industry, revenues have contracted for these companies, and they may be increasingly dependent on their lenders’ continued willingness to provide funding to maintain ongoing liquidity. The Company evaluates the need for an allowance for doubtful notes receivable at each reporting date. Smurfit-Stone’s Panama City mill is the largest consumer of pine Pulpwood logs within the immediate area in which most of the Company’s timberlands are located. In July of 2010, Smurfit-Stone emerged from approximately 18 months of bankruptcy protection, and during the first quarter of 2011, RockTenn announced its acquisition of Smurfit-Stone. Deliveries made by St. Joe during Smurfit-Stone’s bankruptcy proceedings were uninterrupted and payments were made on time. Under the terms of the supply agreement, Smurfit-Stone and its successor RockTenn would be liable for any monetary damages as a result of the closure of the mill due to economic reasons for a period of one year. Nevertheless, if the RockTenn mill in Panama City were to permanently cease operations, the price for the Company’s pulpwood may decline, and the cost of delivering logs to alternative customers could increase. |
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| Stock-Based Compensation | Stock-Based Compensation The Company has offered stock incentive plans whereby awards were granted to certain employees and non-employee directors in the form of restricted shares of the Company’s common stock or options to purchase the Company’s common stock. In 2012, less than 0.1 million restricted stock awards were granted. In addition, in February 2011, 2010 and 2009, the Company granted select executives and other key employees restricted stock awards with vesting based upon the achievement of certain market conditions that are defined as total shareholder return as compared to the total shareholder return of certain peer groups during a three-year performance period. Stock-based compensation cost is measured at the grant date based on the fair value of the award and is typically recognized as expense on a straight-line basis over the requisite service period, which is the vesting period. Upon exercise of stock options or vesting of restricted stock, the Company will issue new common stock. |
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| Earnings (loss) Per Share | Earnings (loss) Per Share Basic earnings (loss) per share is calculated by dividing net income (loss) by the average number of common shares outstanding for the period. Diluted earnings (loss) per share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding for the period, including all potentially dilutive shares issuable under outstanding stock options. Stock options are not considered in any diluted earnings per share calculation when the Company has a loss from operations. Non-vested restricted stock is included in outstanding shares at the time of grant; therefore, they are not considered in the calculation for diluted earnings (loss) per share. For the years ended December 31, 2012, 2011 and 2010, basic average shares outstanding were the same as diluted shares outstanding. Less than approximately 0.1 million of stock options during the years ended December 31, 2012, 2011 and 2010 were excluded from the computation of diluted earnings (loss) per share as the effect would have been anti-dilutive. |
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| Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements Presentation of Comprehensive Income On January 1, 2012, the Company adopted an accounting standards update (“ASU”) that require an entity to present either (1) a single statement of comprehensive income or loss or (2) a separate statement of comprehensive income or loss that immediately follows a statement of income or loss. A single statement of comprehensive income or loss is comprised of a statement of income or loss with other comprehensive income and losses, total other comprehensive income or loss, and total comprehensive income or loss appended. A separate statement of comprehensive income or loss is comprised of net income or loss, other comprehensive income and losses, total other comprehensive income or loss, and total comprehensive income or loss. Furthermore, the ASU prohibits an entity from presenting other comprehensive income and losses in a statement of equity only. The adoption of the ASU resulted in the addition of the Consolidated Statements of Comprehensive Income to the Company’s Condensed Consolidated Financial Statements. Amendments to Fair Value Measurement Requirements On January 1, 2012, the Company adopted an ASU that requires additional fair value measurement disclosures. For fair value measurements that use significant unobservable inputs, quantitative disclosures of the inputs and qualitative disclosures of the valuation processes are required. For items not measured at fair value in the balance sheet but whose fair value is disclosed, disclosures of the fair value hierarchy level, the fair value measurement techniques used, and the inputs used in the fair value measurements are required. In addition, the ASU permits an entity to measure the fair value of a portfolio of financial instruments based on the portfolio’s net position, if the portfolio has met certain criteria. Furthermore, the ASU refines when an entity should, and should not, apply certain premiums and discounts to a fair value measurement. The adoption of the ASU is reflected in Note 13, Fair Value Measurements below and did not have a material impact on the Company’s Consolidated Financial Statements. |
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- Definition
Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for comprehensive income. No definition available.
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- Definition
Disclosure of accounting policy for credit risk. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for the impairment and disposal of long-lived assets including goodwill and other intangible assets. No definition available.
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for major classes of inventories, bases of stating inventories (for example, lower of cost or market), methods by which amounts are added and removed from inventory classes (for example, FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this disclosure includes the nature of the cost elements included in inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the disclosure may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of the adoption of new accounting pronouncements that may impact the entity's financial reporting. No definition available.
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- Definition
Disclosure of accounting policy for property, plant and equipment which may include the basis of such assets, depreciation methods used and estimated useful lives, the entity's capitalization policy, including its accounting treatment for costs incurred for repairs and maintenance activities, whether such asset balances include capitalized interest and the method by which such is calculated, how disposals of such assets are accounted for and how impairment of such assets is assessed and recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for entities that primarily develop and then sell real property at retail or otherwise. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for trade and other accounts receivable, and finance, loan and lease receivables, including those classified as held for investment and held for sale. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the valuation allowance for receivables is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition policies for such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions (8) the nature and amount of any guarantees to repurchase receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for revenue recognition related to alternative revenue programs. The major alternative revenue programs can generally be segregated into two categories, programs that adjust billings for the effects of weather abnormalities or broad external factors or to compensate the utility for demand-side management initiatives (for example, no-growth plans and similar conservation efforts); and programs that provide for additional billings (incentive awards) if the utility achieves certain objectives, such as reducing costs, reaching specified milestones, or demonstratively improving customer service. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for revenue recognition for sales of a service. The entity also may disclose how it recognizes cost of sales for such a service transaction and its treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Investment in Real Estate (Tables)
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Dec. 31, 2012
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| Real Estate by Property Type and Segment | Investment in real estate as of December 31, 2012 and 2011 consisted of the following:
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- Definition
Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations. No definition available.
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Investment in Unconsolidated Affiliates (Tables)
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Dec. 31, 2012
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| Investment in Unconsolidated Affiliates, Included in Real Estate Investments | Investments in unconsolidated affiliates, included in real estate investments, are recorded using the equity method of accounting and, as of December 31, 2012 and 2011 consisted of the following:
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| Summarized Balance Sheets for Unconsolidated Investments | Summarized financial information for the unconsolidated investments on a combined basis is as follows:
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| Summarized Statements of Operations for Unconsolidated Investments |
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- Definition
Summarized Balance Sheets For Unconsolidated Investments. No definition available.
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- Definition
Summarized Statements Of Operations For Unconsolidated Investments. No definition available.
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- Definition
Tabular disclosure of investments in and advances to affiliates. Does not include the tabular disclosure of the disaggregation of investments in and advances to affiliates across legal entities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Notes Receivable, net (Tables)
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Dec. 31, 2012
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| Notes Receivable | Notes receivable at December 31, 2012 and 2011 consisted of the following:
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- Definition
Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Property and Equipment, net (Tables)
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Dec. 31, 2012
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| Property, Plant and Equipment | Property and equipment, net consisted of the following as of December 31, 2012 and 2011:
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- Definition
Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Restructuring (Tables)
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Dec. 31, 2012
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| Summary of Charges Incurred and Reserves Recorded in Connection with Restructuring and Relocation Programs by Segment | A summary of the charges incurred and reserves recorded in connection with the restructuring and relocation programs by segment during 2012 and 2011 as follows:
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- Definition
Tabular disclosure of restructuring and related costs by type of restructuring including the description of the restructuring costs, such as the expected cost; the costs incurred during the period; the cumulative costs incurred as of the balance sheet date; the income statement caption within which the restructuring charges recognized for the period are included; and changes to an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accrued Liabilities and Deferred Credits (Tables)
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Dec. 31, 2012
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| Accrued Liabilities and Deferred Credits | Accrued liabilities and deferred credits as of December 31, 2012 and 2011 consist of the following:
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- Definition
Accrued Liabilities And Deferred Credits. No definition available.
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Debt (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2012
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| Debt | Debt at December 31, 2012 and 2011 consist of the following:
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| Maturities of Debt | The aggregate maturities of debt subsequent to December 31, 2012 are (a):
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- Definition
Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Fair Value Measurements (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Dec. 31, 2012
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| Non Financial Assets Measured at Fair Value on Nonrecurring Basis | The Company’s non-financial assets measured at fair value on a nonrecurring basis were as follows at December 31, 2012 and 2011.
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| Carrying Amount and Fair Value of Financial Instruments | The carrying amount and fair value of the Company’s financial instruments were as follows (the table below excludes financial instruments with carrying values that approximate their fair values):
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| X | ||||||||||
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- Definition
Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Income Taxes (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Dec. 31, 2012
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| Provision for Income Tax Expense (Benefit) | The provision for income tax expense (benefit) for the years ended December 31, 2012, 2011, and 2010 consist of the following:
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| Tax (Benefit) Allocated in the Consolidated Statements of Operations | Total income tax expense (benefit) for the years ended December 31, 2012, 2011, and 2010 was allocated in the consolidated financial statements as follows:
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| Income Tax (Benefit) Attributable to Income from Continuing Operations Differed from Amount Computed by Applying Statutory Federal income tax rate of 35% to Pre-Tax Income | Income tax expense (benefit) attributable to income from operations differed from the amount computed by applying the statutory federal income tax rate of 35% to pre-tax income as a result of the following:
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| Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities as of December 31, 2012 and 2011 are presented below:
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| Reconciliation Of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
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| X | ||||||||||
|
- Definition
Tax (Benefit) Recorded in the Consolidated Statements of Operations. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Tabular disclosure of the change in unrecognized tax benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Stock-Based Compensation (Tables)
|
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Dec. 31, 2012
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| Stock-Based Compensation Recognized as Expense | Total stock-based compensation recorded in Corporate expense, net, on the Consolidated Statements of Operations for the three years ended December 31, 2012 is as follows:
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| Summary of Option Activity Outstanding | The following table sets forth the summary of option activity outstanding under the stock option program for 2012:
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| Summary of Restricted Stock Unit Activity Outstanding | The following table sets forth the summary of restricted stock unit activity outstanding under the restricted stock unit program for 2012:
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| X | ||||||||||
|
- Definition
Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Employee Benefit Plans (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Dec. 31, 2012
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| Change in Projected Benefit Obligation and Plan Assets | Change in projected benefit obligation and plan assets:
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| Amounts Not Yet Reflected in Net Periodic Pension Cost included in Accumulated Other Comprehensive Loss | Amounts not yet reflected in net periodic pension cost and included in accumulated other comprehensive loss at December 31 are as follows:
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| Net Periodic Pension Cost (Credit) And Other Amounts Recognized In Other Comprehensive Loss (Income) | A summary of the net periodic pension cost and other amounts recognized in other comprehensive loss (income) are as follows:
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| Plan Assets At Fair Value | The following tables sets forth by level within the fair value hierarchy: Assets at Fair Value as of December 31, 2012
Assets at Fair Value as of December 31, 2011
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| Fair Value Of The Plan's Level Three Assets | The following table sets forth a summary of changes in the fair value of the Plan’s level 3 assets for the year ended December 31, 2012 and 2011:
|
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| Expected Benefit Payments | The Company does not anticipate making any contributions to the plan during 2013. Expected benefit payments for the next ten years are as follows:
|
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|
Benefit Obligation
|
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| Assumptions | Assumptions used to develop end of period benefit obligations:
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Net Periodic Benefit Cost
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| Assumptions | Assumptions used to develop net periodic pension cost:
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| X | ||||||||||
|
- Definition
Fair Value of the Plan's Level 3 Assets. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the components of accumulated other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the change in the benefit obligation of pension plans and/or other employee benefit plans from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Tabular disclosure of components of comprehensive income (loss) including, but not limited to: (a) foreign currency translation adjustments; (b) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (c) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (d) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (e) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (f) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (g) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Segment Information (Tables)
|
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2012
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| Information by Business Segment | Information by business segment is as follows:
|
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| X | ||||||||||
|
- Definition
Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Commitments and Contingencies (Tables)
|
12 Months Ended | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2012
|
|||||||||||||||||||||
| Future Minimum Rental Commitments under Noncancelable Long-Term Operating Leases | The future minimum rental commitments under noncancelable long-term operating leases due over the next five years are as follows:
|
| X | ||||||||||
|
- Definition
Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Quarterly Financial Data (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2012
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| Quarterly Financial Data |
|
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| Quarterly Financial Information Pre-Tax Charges | Quarterly results included the following significant pre-tax charges:
|
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| X | ||||||||||
|
- Definition
Quarterly Financial Information Pre Tax Charges. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Nature of Operations - Additional Information (Detail)
|
12 Months Ended |
|---|---|
|
Dec. 31, 2012
Segment
acre
|
|
| Real Estate Properties [Line Items] | |
| Land owned (in acres) | 567,000 |
| Number of reportable operating segments | 5 |
| X | ||||||||||
|
- Definition
Land owned No definition available.
|
| X | ||||||||||
|
- Definition
Number of reportable operating segments No definition available.
|
| X | ||||||||||
|
- Details
|
|
Significant Accounting Policies - Additional Information (Detail) (USD $)
|
3 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|
|
Mar. 31, 2011
acre
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||||
| Minimum future rent on non cancelable lease due in 2013 | $ 3,000,000 | |||
| Minimum future rent on non cancelable lease due in 2014 | 3,000,000 | |||
| Minimum future rent on non cancelable lease due in 2015 | 2,800,000 | |||
| Minimum future rent on non cancelable lease due in 2016 | 2,700,000 | |||
| Minimum future rent on non cancelable lease due in 2017 | 2,400,000 | |||
| Timber deed sale agreement, value | 55,900,000 | |||
| Timber deed land owned | 40,975 | |||
| Percentage of buyer First Thinnings at fair market value | 85.00% | |||
| Timber revenue | 38,977,000 | 86,703,000 | 28,841,000 | |
| Imputed land lease revenue | 1,400,000 | |||
| Purchase price of First Thinnings | 900,000 | 1,200,000 | ||
| Minimum projected price appreciation over time | 0.00% | |||
| Maximum projected price appreciation over time | 10.00% | |||
| Estimated developer profit based on development costs | 20.00% | |||
| Restricted stock awards granted | 59,891 | |||
| Anti- dilutive securities excluded from computation of diluted (loss) per share | 100,000 | 100,000 | 100,000 | |
|
Timber Deed
|
||||
| Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||||
| Timber revenue | $ 54,500,000 | |||
|
Minimum
|
||||
| Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||||
| Estimated Useful Life (in years) | 3 years | |||
|
Minimum | Real Estate
|
||||
| Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||||
| Estimated Useful Life (in years) | 15 years | |||
|
Maximum
|
||||
| Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||||
| Timber deed sale agreement, term (in years) | 20 | |||
| Estimated Useful Life (in years) | 30 years | |||
| Impairment analysis for development and operating properties, holding periods | 13 years | |||
|
Maximum | Real Estate
|
||||
| Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||||
| Estimated Useful Life (in years) | 40 years | |||
|
Maximum | Restricted stock awards
|
||||
| Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items] | ||||
| Restricted stock awards granted | 100,000 | |||
| X | ||||||||||
|
- Definition
Estimated developer profit based On development costs. No definition available.
|
| X | ||||||||||
|
- Definition
Fair Value Inputs Holding Period No definition available.
|
| X | ||||||||||
|
- Definition
Imputed land lease revenue No definition available.
|
| X | ||||||||||
|
- Definition
Maximum projected price appreciation over time. No definition available.
|
| X | ||||||||||
|
- Definition
Projected price appreciation over time. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Purchase Agreement Fair Market Value Percentage No definition available.
|
| X | ||||||||||
|
- Definition
Purchase Agreement First Thinnings Purchase Price No definition available.
|
| X | ||||||||||
|
- Definition
Timber Deed Land Owned No definition available.
|
| X | ||||||||||
|
- Definition
Timber deed sale agreement, term No definition available.
|
| X | ||||||||||
|
- Definition
Timber deed sale agreement, value No definition available.
|
| X | ||||||||||
|
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within one year of the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within the fifth year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within the fourth year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within the third year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within the second year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
| X | ||||||||||
|
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Revenue from sale of timber, mill lumber, wood, and other wood products. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Impairments of Long-lived Assets - Additional Information (Detail) (USD $)
|
3 Months Ended | 12 Months Ended | |||||
|---|---|---|---|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2012
|
Dec. 31, 2011
Y
|
Dec. 31, 2010
|
|
| Impaired Long-Lived Assets Held and Used [Line Items] | |||||||
| Future land lease payment ceased | $ 4,200,000 | ||||||
| Impairment charges | 2,551,000 | 374,846,000 | 1,697,000 | 782,000 | 2,551,000 | 377,325,000 | 4,799,000 |
| Remaining lease period of released land lease | 28 years | ||||||
| Ceased covered airport parking lease term | 7 years | ||||||
| Appreciation rate reduced | 3.00% | 5.00% | |||||
| Appreciation period (in years) | 8 years | 11 years | |||||
| Bulk sale reduced selling prices | 20.00% | ||||||
| Discounting projected cash flows maximum | 23.00% | ||||||
| Future capital expenditures reduced | 190,000,000 | ||||||
| Maximum Future capital expenditures period, years | 10 | ||||||
| Estimated fair value of impaired real estate | 91,400,000 | 91,400,000 | |||||
|
Homes and Homesites
|
|||||||
| Impaired Long-Lived Assets Held and Used [Line Items] | |||||||
| Impairment charges | 2,500,000 | 4,300,000 | |||||
|
East San Marco L.L.C
|
|||||||
| Impaired Long-Lived Assets Held and Used [Line Items] | |||||||
| Impairment charges | 3,800,000 | ||||||
|
Undiscounted Cash Flow
|
|||||||
| Impaired Long-Lived Assets Held and Used [Line Items] | |||||||
| Carrying value of long-lived assets | $ 466,200,000 | $ 466,200,000 | |||||
| X | ||||||||||
|
- Definition
Appreciation period No definition available.
|
| X | ||||||||||
|
- Definition
Appreciation rate reduced No definition available.
|
| X | ||||||||||
|
- Definition
Bulk sale reduced selling prices No definition available.
|
| X | ||||||||||
|
- Definition
Discounting projected cash flows maximum No definition available.
|
| X | ||||||||||
|
- Definition
Estimated Fair Value Of Impaired Real Estate No definition available.
|
| X | ||||||||||
|
- Definition
Future capital expenditures reduced No definition available.
|
| X | ||||||||||
|
- Definition
Maximum future capital expenditures Period. No definition available.
|
| X | ||||||||||
|
- Definition
Operating Leases Future Minimum Payments Ceased No definition available.
|
| X | ||||||||||
|
- Definition
Operation of Facility Cease Period No definition available.
|
| X | ||||||||||
|
- Definition
Remaining Lease Term No definition available.
|
| X | ||||||||||
|
- Definition
The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the sum of the carrying value of all the Assets Held-for-Sale at the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Real Estate by Property Type and Segment (Detail) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Real Estate Properties [Line Items] | ||
| Operating property | $ 211,000 | $ 199,890 |
| Development property | 202,073 | 224,418 |
| Investment property | 5,124 | 5,124 |
| Resorts, leisure and leasing operations | 2,222 | 2,259 |
| Total real estate investments | 420,419 | 431,691 |
| Less: Accumulated depreciation | 49,772 | 44,489 |
| Investment in real estate | 370,647 | 387,202 |
|
Residential Real Estate
|
||
| Real Estate Properties [Line Items] | ||
| Operating property | 2,792 | 3,274 |
| Development property | 133,835 | 150,175 |
|
Commercial Real Estate
|
||
| Real Estate Properties [Line Items] | ||
| Operating property | 4,691 | |
| Development property | 59,851 | 63,469 |
| Investment property | 700 | 700 |
|
Resorts, leisure and leasing operations
|
||
| Real Estate Properties [Line Items] | ||
| Operating property | 152,906 | 133,289 |
| Development property | 351 | 1,201 |
| Investment property | 255 | 255 |
|
Rural land
|
||
| Real Estate Properties [Line Items] | ||
| Operating property | 139 | 139 |
| Development property | 5,768 | 7,410 |
|
Forestry
|
||
| Real Estate Properties [Line Items] | ||
| Operating property | 54,984 | 58,087 |
| Investment property | 953 | 953 |
|
Other
|
||
| Real Estate Properties [Line Items] | ||
| Operating property | 179 | 410 |
| Investment property | 3,216 | 3,216 |
|
Corporate
|
||
| Real Estate Properties [Line Items] | ||
| Development property | $ 2,268 | $ 2,163 |
| X | ||||||||||
|
- Definition
Income-Producing Depreciable Operating Property No definition available.
|
| X | ||||||||||
|
- Definition
The current amount of expenditures for a real estate project that has not yet been completed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cumulative amount of depreciation for real estate property held for investment purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of real estate investment property which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of real estate owned for income production and capital accretion potential, not otherwise specified in the existing taxonomy. Such real estate excludes that which is occupied or used in the business, for entertainment purposes, or held in inventory for specific purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amount of investments in unconsolidated real estate and other joint ventures not separately presented. This includes direct and indirect investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Investment in Real Estate - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Real Estate and Accumulated Depreciation [Line Items] | |||
| Capitalized internal development cost | $ 0.1 | $ 0.6 | $ 0.7 |
| Depreciation expense | 5.9 | 7.8 | 8.1 |
| Depletion expense | $ 1.6 | $ 4.4 | $ 1.4 |
| X | ||||||||||
|
- Definition
Capitalized Development Costs Expense No definition available.
|
| X | ||||||||||
|
- Definition
Real Estate Depreciation Expense No definition available.
|
| X | ||||||||||
|
- Definition
The noncash expense charged against earnings to recognize the consumption of natural resources. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Investments in Unconsolidated Affiliates, Included in Real Estate Investments (Detail) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
||||
|---|---|---|---|---|---|---|
| Investments in and Advances to Affiliates [Line Items] | ||||||
| Investments in unconsolidated affiliates | $ 2,222 | $ 2,259 | ||||
|
East San Marco L.L.C
|
||||||
| Investments in and Advances to Affiliates [Line Items] | ||||||
| Ownership | 50.00% | |||||
| Investments in unconsolidated affiliates | 2,222 | 2,165 | ||||
|
Rivercrest, L.L.C
|
||||||
| Investments in and Advances to Affiliates [Line Items] | ||||||
| Ownership | 50.00% | |||||
|
Paseos, L.L.C
|
||||||
| Investments in and Advances to Affiliates [Line Items] | ||||||
| Ownership | 50.00% | [1] | ||||
| Investments in unconsolidated affiliates | $ 94 | [1] | ||||
|
ALP Liquidating Trust
|
||||||
| Investments in and Advances to Affiliates [Line Items] | ||||||
| Ownership | 26.00% | |||||
|
||||||
| X | ||||||||||
|
- Definition
The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The carrying amount of investments in unconsolidated real estate and other joint ventures not separately presented. This includes direct and indirect investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Summarized Balance Sheets for Unconsolidated Investments (Detail) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
||||
|---|---|---|---|---|---|---|
| Investment In Unconsolidated Affiliates [Line Items] | ||||||
| Other assets | $ 20,403 | $ 21,981 | ||||
| Total assets | 645,521 | 661,291 | ||||
| Total liabilities and equity | 645,521 | 661,291 | ||||
|
Other Affiliates
|
||||||
| Investment In Unconsolidated Affiliates [Line Items] | ||||||
| Investment in real estate | 12,381 | 12,355 | ||||
| Other assets | 18,653 | 20,089 | ||||
| Total assets | 31,034 | 32,444 | ||||
| Other liabilities | 761 | 1,153 | ||||
| Equity | 30,273 | [1] | 31,291 | [1] | ||
| Total liabilities and equity | $ 31,034 | $ 32,444 | ||||
|
||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Real estate Investment Property. No definition available.
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Items including common stock value, paid in capital, retained earnings, common stock purchased for the treasury and excluding noncontrolling interests (minority interests) and preferred stockholder interests. No definition available.
|
| X | ||||||||||
|
- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate carrying amount, as of the balance sheet date, of liabilities not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Summarized Statements of Operations for Unconsolidated Investments (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2012
|
Sep. 30, 2012
|
Jun. 30, 2012
|
Mar. 31, 2012
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Investments in and Advances to Affiliates [Line Items] | |||||||||||
| Total revenues | $ 22,614 | $ 55,907 | $ 30,357 | $ 30,518 | $ 19,820 | $ 26,745 | $ 25,284 | $ 73,436 | $ 139,396 | $ 145,285 | $ 99,540 |
| Total expenses | 137,262 | 532,092 | 151,094 | ||||||||
| Net income (loss) | 5,990 | (330,308) | (35,905) | ||||||||
|
Statements Of Operations
|
|||||||||||
| Investments in and Advances to Affiliates [Line Items] | |||||||||||
| Total revenues | 82 | 11 | 14 | ||||||||
| Total expenses | 1,124 | 1,042 | 2,847 | ||||||||
| Net income (loss) | $ (1,042) | $ (1,031) | $ (2,833) | ||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Notes Receivable (Detail) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Notes receivable | $ 3,975 | $ 4,563 |
|
Pier Park Community Development District notes, non-interest bearing, due December 2024, net of unamortized discount of $0.1 million, effective rates 5.73% - 8.0%
|
||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Notes receivable | 2,758 | 2,768 |
|
Various builder notes, - 5.0% at December 31, 2012 and 2011, due October 2012 thru January 2013
|
||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Notes receivable | 295 | 712 |
|
Various mortgage notes, secured by certain real estate bearing interest at various rates
|
||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Notes receivable | $ 922 | $ 1,083 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Net amount of the investment in a contractual right to receive money on demand or on fixed or determinable dates that is recognized as an asset in the creditor's statement of financial position. Examples include, but are not limited to, credit card receivables, notes receivable and receivables relating to lessor's rights to payments from leases other than operating leases that have been recorded as assets. Excludes trade accounts receivable with contractual maturity of one year or less and arose from the sale of goods or services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Notes Receivable (Parenthetical) (Detail) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
|
Pier Park Community Development District notes, non-interest bearing, due December 2024, net of unamortized discount of $0.1 million, effective rates 5.73% - 8.0%
|
||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Unamortized discount | $ 0.1 | $ 0.1 |
| Notes receivable, maturity date | 2024-12 | 2024-12 |
|
Pier Park Community Development District notes, non-interest bearing, due December 2024, net of unamortized discount of $0.1 million, effective rates 5.73% - 8.0% | Minimum
|
||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Notes receivable, effective interest rate | 5.73% | 5.73% |
|
Pier Park Community Development District notes, non-interest bearing, due December 2024, net of unamortized discount of $0.1 million, effective rates 5.73% - 8.0% | Maximum
|
||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Notes receivable, effective interest rate | 8.00% | 8.00% |
|
Various builder notes, - 5.0% at December 31, 2012 and 2011, due October 2012 thru January 2013
|
||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Notes receivable, effective interest rate | 8.00% | 5.00% |
|
Various builder notes, - 5.0% at December 31, 2012 and 2011, due October 2012 thru January 2013 | Minimum
|
||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Notes receivable, maturity date | 2012-10 | 2012-10 |
|
Various builder notes, - 5.0% at December 31, 2012 and 2011, due October 2012 thru January 2013 | Maximum
|
||
| Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
| Notes receivable, maturity date | 2013-01 | 2013-01 |
| X | ||||||||||
|
- Definition
Discount On Notes Receivable No definition available.
|
| X | ||||||||||
|
- Definition
Notes Receivable, Maturity No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of Notes Receivable No definition available.
|
| X | ||||||||||
|
- Details
|
|
Notes Receivable, Net - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
12 Months Ended |
|---|---|
|
Dec. 31, 2010
|
|
| Receivables [Line Items] | |
| Notes receivable impairment charge | $ 0.5 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Write Offs Of Accounts And Notes Receivable No definition available.
|
|
Pledged Treasury Securities - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
Dec. 31, 2007
|
|---|---|
| Pledged Treasury Securities [Line Items] | |
| Mortgage debt defeased in connection to sale | $ 29.3 |
| X | ||||||||||
|
- Definition
Total debt and equity financial instruments including: (1) securities held-to-maturity, (2) trading securities, and (3) securities available-for-sale which are intended to be held for greater than one year or the normal operating cycle, whichever is longer and that are pledged to one or more secured parties who have the right to buy, sell, or re-pledge the collateral. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Property and Equipment (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2012
Minimum
|
Dec. 31, 2012
Maximum
|
Dec. 31, 2012
Rail road property and equipment
|
Dec. 31, 2011
Rail road property and equipment
|
Dec. 31, 2012
Rail road property and equipment
Minimum
|
Dec. 31, 2012
Rail road property and equipment
Maximum
|
Dec. 31, 2012
Machinery and Equipment
|
Dec. 31, 2011
Machinery and Equipment
|
Dec. 31, 2012
Machinery and Equipment
Minimum
|
Dec. 31, 2012
Machinery and Equipment
Maximum
|
Dec. 31, 2012
Office equipment
|
Dec. 31, 2011
Office equipment
|
Dec. 31, 2012
Office equipment
Minimum
|
Dec. 31, 2012
Office equipment
Maximum
|
Dec. 31, 2012
Autos and trucks
|
Dec. 31, 2011
Autos and trucks
|
Dec. 31, 2012
Autos and trucks
Minimum
|
Dec. 31, 2012
Autos and trucks
Maximum
|
|
| Property, Plant, and Equipment Disclosure [Line Items] | ||||||||||||||||||||
| Property and equipment, gross | $ 49,393 | $ 50,914 | $ 10,140 | $ 10,140 | $ 18,618 | $ 18,978 | $ 18,909 | $ 19,845 | $ 1,726 | $ 1,951 | ||||||||||
| Less: Accumulated depreciation | 37,614 | 36,514 | ||||||||||||||||||
| Property, plant and equipment, excluding construction in progress, net | 11,779 | 14,400 | ||||||||||||||||||
| Construction in progress | 370 | 546 | ||||||||||||||||||
| Total | $ 12,149 | $ 14,946 | ||||||||||||||||||
| Estimated Useful Life (in years) | 3 years | 30 years | 15 years | 30 years | 3 years | 10 years | 3 years | 10 years | 3 years | 10 years | ||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Property, plant and equipment, excluding construction in progress, net. No definition available.
|
| X | ||||||||||
|
- Definition
The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross amount, at the balance sheet date, of long-lived assets under construction that include construction costs to date on capital projects that have not been completed and assets being constructed that are not ready to be placed into service. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross amount of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
|
Property and Equipment, Net - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Property, Plant and Equipment [Line Items] | |||
| Depreciation expense | $ 2.4 | $ 2.8 | $ 3.4 |
| X | ||||||||||
|
- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Retained Interest Investments - Additional Information (Detail) (USD $)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2008
acre
|
Dec. 31, 2011
|
|
| Other Ownership Interests [Line Items] | |||
| Area of timber land sold | 132,055 | ||
| Maturity of notes receivables | Fifteen year | ||
| Aggregate amount of notes receivables | $ 183,300,000 | ||
| Monetized notes receivables | 183,300,000 | ||
| Proceeds from monetized note | 163,000,000 | ||
| Notes, maturity period | 15 years | ||
| Retained interest | $ 9,481,000 | $ 10,707,000 | |
|
Minimum
|
|||
| Other Ownership Interests [Line Items] | |||
| Note maturity year | 2022 | ||
| Retained interest, effective interest rate | 3.70% | ||
|
Maximum
|
|||
| Other Ownership Interests [Line Items] | |||
| Note maturity year | 2024 | ||
| Retained interest, effective interest rate | 11.90% | ||
| X | ||||||||||
|
- Definition
Cash Proceeds From Monetized Note No definition available.
|
| X | ||||||||||
|
- Definition
Discount rate on retained interest. No definition available.
|
| X | ||||||||||
|
- Definition
Monetized Note Receivable No definition available.
|
| X | ||||||||||
|
- Definition
Notes Maturity Year No definition available.
|
| X | ||||||||||
|
- Definition
Promissory Notes Maturity Period No definition available.
|
| X | ||||||||||
|
- Definition
Retained Interest No definition available.
|
| X | ||||||||||
|
- Definition
Timberland Acreage Sales No definition available.
|
| X | ||||||||||
|
- Definition
Timber Notes Receivable No definition available.
|
| X | ||||||||||
|
- Definition
Timber Notes Receivable Maturity Period No definition available.
|
| X | ||||||||||
|
- Details
|
|
Restructuring - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2009
Person
|
Dec. 31, 2011
2011 Restructuring Program
|
Apr. 11, 2011
2011 Restructuring Program
Person
|
|
| Restructuring Cost and Reserve [Line Items] | |||
| Number of senior management members entered into separation agreements | 4 | ||
| Restructuring costs incurred | $ 10.9 | ||
| Number of senior executives included in restructuring expense related to severance benefits | 3 | ||
| X | ||||||||||
|
- Definition
Number Of Senior Executives Included In Restructuring Expense. No definition available.
|
| X | ||||||||||
|
- Definition
Number Of Senior Management Entered Into Separation Agreements. No definition available.
|
| X | ||||||||||
|
- Definition
Discloses the amount charged against the accrued restructuring reserves, or earnings if not previously accrued, during the period for the specified type of restructuring cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Summary of Charges Incurred and Reserves Recorded in Connection with Restructuring and Relocation Programs by Segment (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2012
|
Sep. 30, 2012
|
Jun. 30, 2012
|
Mar. 31, 2012
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2012
2011 Restructuring Program
|
Dec. 31, 2011
2011 Restructuring Program
|
Dec. 31, 2012
2011 Restructuring Program
Residential Real Estate
|
Dec. 31, 2011
2011 Restructuring Program
Residential Real Estate
|
Dec. 31, 2012
2011 Restructuring Program
Commercial Real Estate
|
Dec. 31, 2011
2011 Restructuring Program
Commercial Real Estate
|
Dec. 31, 2012
2011 Restructuring Program
Rural land
|
Dec. 31, 2011
2011 Restructuring Program
Rural land
|
Dec. 31, 2012
2011 Restructuring Program
Forestry
|
Dec. 31, 2011
2011 Restructuring Program
Forestry
|
Dec. 31, 2012
2011 Restructuring Program
Corporate and other
|
Dec. 31, 2011
2011 Restructuring Program
Corporate and other
|
Dec. 31, 2012
2010 and prior restructuring and relocation programs
|
Dec. 31, 2011
2010 and prior restructuring and relocation programs
|
Dec. 31, 2012
2010 and prior restructuring and relocation programs
Residential Real Estate
|
Dec. 31, 2011
2010 and prior restructuring and relocation programs
Residential Real Estate
|
Dec. 31, 2012
2010 and prior restructuring and relocation programs
Commercial Real Estate
|
Dec. 31, 2011
2010 and prior restructuring and relocation programs
Commercial Real Estate
|
Dec. 31, 2012
2010 and prior restructuring and relocation programs
Rural land
|
Dec. 31, 2011
2010 and prior restructuring and relocation programs
Rural land
|
Dec. 31, 2012
2010 and prior restructuring and relocation programs
Forestry
|
Dec. 31, 2011
2010 and prior restructuring and relocation programs
Forestry
|
Dec. 31, 2012
2010 and prior restructuring and relocation programs
Corporate and other
|
Dec. 31, 2011
2010 and prior restructuring and relocation programs
Corporate and other
|
|
| Restructuring Cost and Reserve [Line Items] | ||||||||||||||||||||||||||||||||||
| Balance at beginning of period | $ 782 | $ 337 | $ 186 | $ 149 | $ 110 | $ 790 | $ 960 | $ 4 | $ 239 | $ 9 | $ 36 | $ 19 | $ 4 | $ 657 | ||||||||||||||||||||
| Cost Accrued | (91) | 18 | 18 | 55 | 797 | 348 | 5,926 | 4,476 | 11,547 | 5,251 | (106) | 10,932 | (20) | 623 | (186) | 1,660 | (145) | 208 | 77 | 245 | 8,364 | 11,551 | (4) | 76 | (3) | (12) | 110 | 558 | ||||||
| Payments | 631 | 10,150 | 317 | 286 | 1,474 | 4 | 59 | 77 | 310 | 8,254 | 745 | 11,721 | 311 | 6 | 24 | 19 | 114 | 1,211 | ||||||||||||||||
| Balance at end of period | 45 | 782 | 337 | 186 | 149 | 45 | 110 | 45 | 790 | 4 | 4 | |||||||||||||||||||||||
| Cumulative Charges | $ 10,825 | $ 603 | $ 1,474 | $ 63 | $ 77 | $ 8,608 | $ 48,715 | $ 19,550 | $ 1,344 | $ 2,554 | $ 494 | $ 13,948 | ||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Cumulative Restructuring Charges No definition available.
|
| X | ||||||||||
|
- Definition
Amount charged against earnings in the period for incurred and estimated costs associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, excluding asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount (including both current and noncurrent portions of the accrual) as of the balance sheet date pertaining to a specified type of cost associated with exit from or disposal of business activities or restructuring pursuant to a duly authorized plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash paid in the period to fully or partially settle a specified, previously accrued type of restructuring cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Accrued Liabilities and Deferred Credits (Detail) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Accounts Payable and Accrued Liabilities [Line Items] | ||
| Accrued compensation | $ 3,529 | $ 1,687 |
| Environmental and insurance liabilities | 1,621 | 1,887 |
| Deferred revenue | 27,158 | 29,859 |
| Legal | 357 | 2,972 |
| Other accrued liabilities | 9,687 | 11,086 |
| Total accrued liabilities and deferred credits | $ 42,352 | $ 47,491 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Accrued Legal Expenses No definition available.
|
| X | ||||||||||
|
- Definition
Environmental And Insurance Liabilities. No definition available.
|
| X | ||||||||||
|
- Definition
Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying values as of the balance sheet date of liabilities incurred and payable to vendors for goods and services received, and other costs not separately disclosed in the balance sheet that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred revenue as of balance sheet date. Deferred revenue represents collections of cash or other assets related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Accrued Liabilities and Deferred Credits - Additional Information (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2012
acre
|
Dec. 31, 2006
acre
|
Dec. 31, 2011
|
|
| Accounts Payable and Accrued Liabilities [Line Items] | |||
| Deferred revenue | $ 27,158 | $ 29,859 | |
|
Florida Department of Transportation
|
|||
| Accounts Payable and Accrued Liabilities [Line Items] | |||
| Deferred revenue | $ 23,500 | $ 23,500 | |
| Acres of land sold | 3,900 | ||
| Acres of land remaining to be transferred | 1,583 | ||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number Of Acres Remains To Be Transferred. No definition available.
|
| X | ||||||||||
|
- Definition
Number Of Acres Sold No definition available.
|
| X | ||||||||||
|
- Definition
Amount of deferred revenue as of balance sheet date. Deferred revenue represents collections of cash or other assets related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Debt (Detail) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2007
|
|||
|---|---|---|---|---|---|---|
| Debt Instrument [Line Items] | ||||||
| Long term debt | $ 36,062 | [1] | $ 53,458 | |||
|
Defeased Debt
|
||||||
| Debt Instrument [Line Items] | ||||||
| Long term debt | 26,818 | 23,299 | 29,300 | |||
|
Community Development District Debt
|
||||||
| Debt Instrument [Line Items] | ||||||
| Long term debt | $ 9,244 | $ 30,159 | ||||
|
||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Debt (Parenthetical) (Detail)
|
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
|
Defeased Debt
|
||
| Debt Instrument [Line Items] | ||
| Debt interest rate | 5.62% | 5.62% |
| Debt instrument, maturity date | Oct. 01, 2015 | Oct. 01, 2015 |
|
Community Development District Debt
|
||
| Debt Instrument [Line Items] | ||
| Debt instrument, minimum interest | 6.70% | 6.70% |
| Debt instrument, maximum interest | 7.15% | 7.15% |
| Debt instrument, maturity start date | May 01, 2016 | |
| Debt instrument, maturity end date | May 01, 2039 | |
| X | ||||||||||
|
- Definition
Interest rate stated in the contractual debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
When presenting a range of interest rates, the highest stated (contractual) rate for funds borrowed under the debt agreement as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
When presenting a range of interest rates, the lowest stated (contractual) rate for funds borrowed under the debt agreement as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Latest date the outstanding debt instruments are required to be repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Earliest date the outstanding debt instruments are required to be repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Maturities of Debt (Detail) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
|||
|---|---|---|---|---|---|
| Debt Instrument [Line Items] | |||||
| 2013 | $ 626 | ||||
| 2014 | 663 | ||||
| 2015 | 25,748 | ||||
| 2016 | 84 | ||||
| 2017 | 90 | ||||
| Thereafter | 8,851 | ||||
| Total | $ 36,062 | [1] | $ 53,458 | ||
|
|||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing after the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the next fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Maturities of Debt (Parenthetical) (Detail) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2007
|
|||
|---|---|---|---|---|---|---|
| Debt Instrument [Line Items] | ||||||
| Long term debt | $ 36,062 | [1] | $ 53,458 | |||
|
Defeased Debt
|
||||||
| Debt Instrument [Line Items] | ||||||
| Long term debt | $ 26,818 | $ 23,299 | $ 29,300 | |||
|
||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Debt - Additional Information (Detail) (USD $)
|
12 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2007
Defeased Debt
|
Dec. 31, 2012
Defeased Debt
|
Dec. 31, 2011
Defeased Debt
|
Dec. 31, 2012
Total Outstanding Cdd Debt
|
Dec. 31, 2011
Total Outstanding Cdd Debt
|
Dec. 31, 2012
Community Development District Debt
|
||||
| Debt Disclosure [Line Items] | |||||||||||
| Total community development district debt | $ 9,200,000 | $ 30,200,000 | $ 34,800,000 | $ 56,800,000 | |||||||
| Prepayment of community development district assessment obligations | 19,900,000 | ||||||||||
| Long term debt | $ 36,062,000 | [1] | $ 53,458,000 | $ 29,300,000 | $ 26,818,000 | $ 23,299,000 | |||||
| Long term debt, year of balloon payment | 2015 | ||||||||||
|
|||||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Long Term Debt, Year of Balloon Payment No definition available.
|
| X | ||||||||||
|
- Definition
Including the current and noncurrent portions, carrying value as of the balance sheet date of a type of municipal bond typically used to fund a development project. Also called special assessment limited liability bond, special district bond, special purpose bond, special tax bond and community development obligation. Interest owed to lenders is paid by taxes levied on the community benefiting from the particular bond-funded project. For example, if a bond of this sort was issued to pay for sidewalks to be repaved in a certain community, an additional tax would be levied on homeowners in the area benefiting from this project. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations. No definition available.
|
|
Fair Value Measurements - Additional Information (Detail) (USD $)
|
1 Months Ended | 12 Months Ended | |
|---|---|---|---|
|
Oct. 31, 2009
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
| Term on alliance agreement (years) | 3 years | ||
| Other income related to contract termination | $ 800,000 | ||
| Minimum discount rate | 10.00% | ||
| Maximum discount rate | 20.00% | ||
| Ceased covered airport parking lease term | 7 years | ||
| Remaining lease period of released land lease | 28 years | ||
| Future land lease payment ceased | 4,200,000 | ||
| Investment in real, carrying value | 471,700,000 | ||
| Investment in real, fair value | 300,000 | 94,351,000 | |
| Impairment charge | 2,551,000 | 377,270,000 | |
| Write off of note receivable | $ 100,000 | ||
| X | ||||||||||
|
- Definition
Investment in real estate fair value disclosure. No definition available.
|
| X | ||||||||||
|
- Definition
Maximum discount rate. No definition available.
|
| X | ||||||||||
|
- Definition
Minimum discount rate. No definition available.
|
| X | ||||||||||
|
- Definition
Operating Leases Future Minimum Payments Ceased No definition available.
|
| X | ||||||||||
|
- Definition
Operation of Facility Cease Period No definition available.
|
| X | ||||||||||
|
- Definition
Remaining Lease Term No definition available.
|
| X | ||||||||||
|
- Definition
Term On Alliance Agreement No definition available.
|
| X | ||||||||||
|
- Definition
Write off of note receivable. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Gain (loss) related to the termination of a contract between the parties. The termination may be due to many causes including early termination of a lease by a lessee, a breach of contract by one party, or a failure to perform. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The charge against earnings in the period to reduce the carrying amount of real property to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of real estate investments, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; (7) other real estate investments; (8) real estate joint ventures; and (9) unconsolidated real estate and other joint ventures not separately presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Non-Financial Assets Measured at Fair Value on Nonrecurring Basis (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||
|---|---|---|---|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||||||
| Investment in real estate | $ 300 | $ 94,351 | $ 300 | $ 94,351 | |||
| Notes receivable | |||||||
| Total Assets | 94,351 | 94,351 | |||||
| Impairment of real estate | 2,551 | 377,270 | |||||
| Impairment of notes receivable | 55 | ||||||
| Impairment charges | 2,551 | 374,846 | 1,697 | 782 | 2,551 | 377,325 | 4,799 |
|
Level 3
|
|||||||
| Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||||||
| Investment in real estate | 300 | 93,127 | 300 | 93,127 | |||
| Notes receivable | |||||||
| Total Assets | 93,127 | 93,127 | |||||
|
Level 2
|
|||||||
| Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||||||
| Investment in real estate | 1,224 | 1,224 | |||||
| Notes receivable | |||||||
| Total Assets | $ 1,224 | $ 1,224 | |||||
| X | ||||||||||
|
- Definition
Investment in real estate fair value disclosure. No definition available.
|
| X | ||||||||||
|
- Definition
The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the aggregate of the assets reported on the balance sheet at period end measured at fair value by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The charge against earnings in the period to reduce the carrying amount of real property to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. An amount representing an agreement for an unconditional promise by the maker to pay the Company (holder) a definite sum of money at a future date(s). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The charge against earnings resulting from the write down of long lived assets other than goodwill due to the difference between the carrying value and lower fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Carrying Amount and Fair Value of Financial Instruments (Detail) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Fair Value Measurements [Line Items] | ||
| Pledged treasury securities, fair value | $ 30,432 | $ 32,394 |
| Retained interest investment, fair value | 12,727 | 13,202 |
| Pledged treasury securities, carrying value | 26,818 | 23,299 |
| Retained interest investment, carrying value | $ 9,481 | $ 10,707 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Retained Interest No definition available.
|
| X | ||||||||||
|
- Definition
The carrying amount of securities categorized as held-to-maturity which serve as security for borrowings or other arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents the interests continued to be held by a transferor (retained or residual interest) after transferring financial assets to a third party. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value of financial instrument held by the entity for its own account (proprietary securities) for trading or investment purposes that are carried at fair value and pledged to counterparties as collateral for financing transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Provision for Income Taxes (Benefit) (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Current: | |||
| Federal | $ 34 | $ (2,091) | $ (134) |
| State | 118 | (70) | 275 |
| Total | 152 | (2,161) | 141 |
| Deferred: | |||
| Federal | 196 | (52,450) | (18,084) |
| State | 39 | (1,047) | (5,906) |
| Total | 235 | (53,497) | (23,990) |
| Total provision (benefit) for income taxes | $ 387 | $ (55,658) | $ (23,849) |
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted federal tax law to the domestic taxable Income or Loss from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable Income or Loss from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted state and local tax law to relevant amounts of taxable Income or Loss from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of total income tax expense for the period comprised of the increase (decrease) during the period in the entity's domestic deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the federally enacted tax law. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The component of total income tax expense for the period comprised of the increase (decrease) in the entity's state and local deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the applicable enacted tax laws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Tax (Benefit) Allocated in Consolidated Statements of Operations (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Income Taxes [Line Items] | |||
| Income tax (benefit) expense | $ 387 | $ (55,658) | $ (23,849) |
| Excess tax expense on stock compensation | 907 | 362 | |
| Deferred tax expense on accumulated other comprehensive income | 7,888 | 1,335 | |
| Total | 8,795 | 1,697 | |
| Total income tax (benefit) | $ 387 | $ (46,863) | $ (22,152) |
| X | ||||||||||
|
- Definition
Deferred tax expense benefit on accumulated other comprehensive income No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Total Benefits Recorded in Equity. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of excess tax benefit (tax deficiency) that arises when compensation cost from non-qualified equity-based compensation recognized on the entity's tax return exceeds (is less than) compensation cost from equity-based compensation recognized in financial statements. Excess tax benefit (tax deficiency) reduces (increases) net cash provided by operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The tax effect of items occurring during the period that have been charged or credited directly to components of shareholders' equity and are not otherwise defined. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Income Taxes - Additional Information (Detail) (USD $)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Deferred Tax Liability Not Recognized [Line Items] | |||
| Statutory federal income tax rate | 35.00% | ||
| Operating loss carry forwards, federal | $ 83,500,000 | $ 92,000,000 | |
| Operating loss carry forwards, state | 596,800,000 | 612,600,000 | |
| Operating loss carry forwards, expiration year | 2031 | ||
| Deferred tax asset, valuation allowance | 92,599,000 | 95,469,000 | |
| Valuation allowance to offset deferred tax asset | 3,000,000 | 3,800,000 | |
| Unrecognized Tax Benefits | 1,722,000 | 1,722,000 | 1,401,000 |
|
State and Local Jurisdiction
|
|||
| Deferred Tax Liability Not Recognized [Line Items] | |||
| Net operating loss, valuation allowance | $ 9,600,000 | $ 10,400,000 | |
| X | ||||||||||
|
- Definition
Operating Loss Carryforward, Expiration Year No definition available.
|
| X | ||||||||||
|
- Definition
Operating Loss Carryforwards, State and Local No definition available.
|
| X | ||||||||||
|
- Definition
Operating Loss Carryforwards, US Federal No definition available.
|
| X | ||||||||||
|
- Definition
Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The domestic federal statutory tax rate applicable under enacted tax laws to the Company's pretax income from continuing operations for the period. The "statutory" tax rate is the regular tax rate if there are alternative tax systems. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the valuation allowance pertaining to the deferred tax asset representing potential future taxable deductions from net operating loss carryforwards for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of unrecognized tax benefits pertaining to uncertain tax positions taken in tax returns as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of the change in the period in the valuation allowance for a specified deferred tax asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Income Tax (Benefit) Attributable to Income from Continuing Operations Differed from Amount Computed by Applying Statutory Federal income Tax Rate of 35% to Pre-Tax Income (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Income Taxes [Line Items] | |||
| Tax at the statutory federal rate | $ 2,240 | $ (135,078) | $ (20,899) |
| State income taxes (net of federal benefit) | 224 | (13,508) | (2,090) |
| Decrease (increase) in valuation allowance | (2,870) | 94,505 | 28 |
| Medicare Subsidy | (64) | 623 | |
| Real estate investment trust income exclusion | (1,468) | (1,357) | |
| Other | 793 | (45) | (154) |
| Total income tax (benefit) expense | $ 387 | $ (55,658) | $ (23,849) |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Increase (decrease) in valuation allowance No definition available.
|
| X | ||||||||||
|
- Definition
Real estate investment trust income exclusion. No definition available.
|
| X | ||||||||||
|
- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to pretax Income or Loss from continuing operations; income tax expense or benefit may include interest and penalties on tax uncertainties based on the entity's accounting policy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of difference between income tax expense or benefit as reported in the income statement, and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to Medicare prescription drug benefits (subsidies). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of income tax expense or benefit for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference, between total income tax expense or benefit as reported in the Income Statement for the year/accounting period and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations, that is attributable to all other items not otherwise listed in the existing taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of the difference, between total income tax expense or benefit as reported in the Income Statement for the period and the expected income tax expense or benefit computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations, that is attributable to state and local income tax expense or benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Deferred Tax Assets and Liabilities (Detail) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Deferred tax assets | ||
| Federal net operating carryforward | $ 29,222 | $ 32,201 |
| State net operating loss carryforward | 20,888 | 21,442 |
| Impairment losses | 146,358 | 147,467 |
| Deferred compensation | 1,118 | 1,092 |
| Capitalized real estate taxes | 8,124 | 7,781 |
| Prepaid income on land sales | 10,262 | 10,536 |
| Other | 3,397 | 4,229 |
| Total gross deferred tax assets | 219,369 | 224,748 |
| Valuation allowance | (92,599) | (95,469) |
| Total net deferred tax assets | 126,770 | 129,279 |
| Deferred tax liabilities | ||
| Deferred gain on land sales and involuntary conversions | 32,255 | 32,726 |
| Prepaid pension asset | 16,173 | 17,291 |
| Installment sale | 58,138 | 58,861 |
| Depreciation | 4,172 | 4,639 |
| Other | 4,075 | 4,047 |
| Total gross deferred tax liabilities | 114,813 | 117,564 |
| Net deferred tax asset | $ 11,957 | $ 11,715 |
| X | ||||||||||
|
- Definition
Deferred gain on land sales and involuntary conversions. No definition available.
|
| X | ||||||||||
|
- Definition
Deferred Tax Liabilities, Gross No definition available.
|
| X | ||||||||||
|
- Definition
Deferred tax liabilities, installment sale No definition available.
|
| X | ||||||||||
|
- Definition
Prepaid income on land sales. No definition available.
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards, net of deferred tax liability attributable to taxable temporary differences. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible domestic operating loss carryforwards. Excludes state and local operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible state and local operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from employee compensation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from estimated impairment losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from other reserves and accruals not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of deferred tax liability attributable to taxable temporary differences not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount as of the balance sheet date of the estimated future tax effects attributable to the difference between the tax basis of pension liabilities funded in advance and the basis of a prepaid pension asset determined in accordance with generally accepted accounting principles. The difference in basis of such costs will increase future taxable income when such basis difference reverses. Prepaid pension costs represented the cumulative employer's contributions in excess of net pension cost recognized, before the adoption of the recognition provisions of FAS 158. Under FAS 158, prepaid pension costs are no longer recognized in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred tax liability attributable to taxable temporary differences from property, plant, and equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of interest costs that were capitalized to properties under development during the land development and construction period of a project, and which are included in inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Reconciliation of Unrecognized Tax Benefits (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2011
|
Dec. 31, 2012
|
|
| Income Taxes [Line Items] | ||
| Balance at beginning of period | $ 1,401 | $ 1,722 |
| Decreases related to prior year tax positions | (1,401) | |
| Increased related to current year tax positions | 1,722 | |
| Balance at end of period | $ 1,722 | $ 1,722 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The gross amount of unrecognized tax benefits pertaining to uncertain tax positions taken in tax returns as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of decreases in unrecognized tax benefits resulting from tax positions taken in prior period tax returns, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The gross amount of increases in unrecognized tax benefits resulting from tax positions that have been or will be taken in the tax return for the current period, excluding amounts pertaining to examined tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Stock Repurchase Program - Additional Information (Detail) (USD $)
In Millions, except Share data, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Stock Repurchase Programs [Line Items] | |||
| Stock repurchase program, authorized amount | $ 950.0 | ||
| Stock repurchase from inception | 846.2 | ||
| Stock repurchased during period (in shares) | 27,945,611 | ||
| Strike prices and taxes due on exercised stock options and vested restricted stock (in shares) | 2,651,238 | ||
| Acquired shares from repurchase program | 30,596,849 | ||
| Treasury shares cancelled and retired, shares | 30,497,699 | ||
| Treasury shares cancelled and retired, reduction in common stock | 51.1 | ||
| Treasury shares cancelled and retired, reduction in retained earnings | $ 885.1 | ||
|
Executives
|
|||
| Stock Repurchase Programs [Line Items] | |||
| Stock surrendered during period (in shares) | 9,529 | 179,221 | 42,762 |
| X | ||||||||||
|
- Definition
Exercised stock option and vested restricted stock, acquired shares No definition available.
|
| X | ||||||||||
|
- Definition
Retirement Of Treasury Shares Reduction In Common Stock Value No definition available.
|
| X | ||||||||||
|
- Definition
Retirement Of Treasury Shares Reduction In Retained Earnings No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Strike prices and taxes due on exercised stock options and vested restricted stock. No definition available.
|
| X | ||||||||||
|
- Definition
Number of shares related to Restricted Stock Award forfeited during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount authorized by an entity's Board of Directors under a stock repurchase plan. No definition available.
|
| X | ||||||||||
|
- Definition
Number of shares of common and preferred stock retired from treasury during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Stock-Based Compensation - Additional Information (Detail) (USD $)
|
3 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|
|
Mar. 31, 2011
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Non vested shares restricted shares, vesting period | 4 years | |||
| Accelerated vesting of restricted shares | 300,000 | |||
| Accelerated stock compensation expense | $ 6,200,000 | |||
| Intrinsic value of options exercised | 100,000 | 100,000 | ||
| Stock option exercised | 4,000 | 178,886 | ||
| Proceeds from exercises of stock options | 100,000 | 5,083,000 | ||
| Tax benefit from stock options exercised | 0 | 400,000 | ||
| Weighted average grant date fair value of restricted shares | $ 16.30 | $ 28.01 | $ 27.86 | |
| Fair values of vested restricted stock and stock options | 1,500,000 | 9,700,000 | 6,700,000 | |
| Unrecognized compensation cost related to non-vested restricted stock and stock option compensation | $ 100,000 | |||
| Vested restricted stock awards | 83,967 | |||
| Restricted stock units granted | 59,891 | |||
|
Maximum
|
||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Vested restricted stock awards | 100,000 | |||
|
Market Condition Restricted Stock Units
|
||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Weighted average grant date fair value of restricted shares | $ 15.69 | |||
| Performance period (in years) | 3 years | |||
| Restricted stock units granted | 23,192 | |||
|
2009 Equity Incentive Plan
|
||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Shares available for future issuance | 1,500,000 | |||
| X | ||||||||||
|
- Definition
Accelerated vesting of restricted shares. No definition available.
|
| X | ||||||||||
|
- Definition
Performance Period No definition available.
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the aggregate unrecognized cost of equity-based awards made to employees under equity-based compensation awards that have yet to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Additional share-based compensation cost recognized as a result of an occurrence of an event that accelerates its recognition. No definition available.
|
| X | ||||||||||
|
- Definition
Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total fair value of equity-based awards for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total accumulated difference between fair values of underlying shares on dates of exercise and exercise price on options which were exercised (or share units converted) into shares during the reporting period under the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tax benefits realized from the exercise of stock options resulting in reductions in the entity's income taxes, which increases net cash provided by operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Stock-Based Compensation Recorded in Corporate Expense, Net, on Consolidated Statements of Operations (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
| Stock compensation expense before tax benefit | $ 998 | $ 8,452 | $ 5,159 |
| Income tax benefit | 384 | 3,254 | 2,060 |
| Stock compensation expense after tax benefit | $ 614 | $ 5,198 | $ 3,099 |
| X | ||||||||||
|
- Definition
Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of expense, net of income tax, recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The total recognized tax benefit related to compensation cost for equity-based payment arrangements recognized in income during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Summary of Option Activity Outstanding (Detail) (USD $)
|
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Number of shares | ||
| Beginning balance | 147,525 | |
| Forfeited or expired | 42,425 | |
| Ending balance | 105,100 | 147,525 |
| Vested or expected to vest at end of period | 105,100 | |
| Exercisable at end of period | 105,100 | |
| Weighted average exercise price | ||
| Beginning Balance | $ 48 | |
| Forfeited or expired | $ 35.72 | |
| Ending Balance | $ 52.96 | $ 48 |
| Vested or expected to vest at end of period | $ 52.96 | |
| Exercisable at end of period | $ 52.96 | |
| Weighted average remaining contractual life (Years) | ||
| Weighted average remaining contractual life (Years) | 3 years 8 months 12 days | 3 years 6 months |
| Vested or expected to vest at end of period | 3 years 8 months 12 days | |
| Exercisable at end of period | 3 years 8 months 12 days | |
| Aggregate intrinsic value | ||
| Beginning Balance | ||
| Forfeited or expired | ||
| Ending Balance | ||
| Vested or expected to vest at end of period | ||
| Exercisable at end of period | ||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures and Expirations In Period Total Intrinsic Value No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
For presentations that combine terminations, the number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan or that expired. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average price of options that were either forfeited or expired. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares reserved for issuance under stock option agreements awarded under the plan that validly exist and are outstanding as of the balance sheet date, including vested options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of difference between fair value of the underlying shares reserved for issuance and exercise prices of fully vested and expected to vest options outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the number of shares into which fully vested and expected to vest stock options outstanding can be converted under the option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
As of the balance sheet date, the weighted-average exercise price for outstanding stock options that are fully vested or expected to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average remaining contractual term for fully vested and expected to vest options outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Summary of Restricted Stock Unit Activity Outstanding (Detail) (USD $)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Number of units | |||
| Beginning Balance | 37,815 | ||
| Granted | 59,891 | ||
| Vested | (83,967) | ||
| Forfeited | (2,352) | ||
| Ending Balance | 11,387 | 37,815 | |
| Weighted average grant date fair value | |||
| Beginning Balance | $ 26.99 | ||
| Granted | $ 16.30 | $ 28.01 | $ 27.86 |
| Vested | $ 17.80 | ||
| Forfeited | $ 21.52 | ||
| Ending Balance | $ 21.52 | $ 26.99 | |
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Employee Benefits Plans - Additional Information (Detail) (USD $)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Pension charges | $ 2,063,000 | ||
| Settlement losses and curtailment charges | 1,200,000 | 5,900,000 | 4,100,000 |
| Prepaid pension asset | 33,400,000 | 35,100,000 | |
| Accumulated benefit obligation of the pension plan | 26,700,000 | 25,800,000 | |
| Estimated actuarial loss that will be amortized from accumulated other comprehensive income into net periodic pension cost in 2013 | 400,000 | ||
| Expected long-term rate of return on plan assets | 4.75% | 5.00% | 6.00% |
| Matching contributions for the first 1% | 100.00% | ||
| Matching contributions for the next 5% | 50.00% | ||
| Maximum eligible compensation | 3.50% | ||
| Company contributions to the plan | $ 200,000 | $ 400,000 | |
|
fixed income investments
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Plan asset target allocation percentage, minimum | 65.00% | ||
| Plan asset target allocation percentage, maximum | 95.00% | ||
|
Equity type investments
|
|||
| Defined Benefit Plan Disclosure [Line Items] | |||
| Plan asset target allocation percentage, minimum | 5.00% | ||
| Plan asset target allocation percentage, maximum | 35.00% | ||
| X | ||||||||||
|
- Definition
Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Settlement Loss And Curtailment Charge. No definition available.
|
| X | ||||||||||
|
- Definition
Matching Contributions For First Five Percent No definition available.
|
| X | ||||||||||
|
- Definition
Matching Contributions For First One Percent No definition available.
|
| X | ||||||||||
|
- Definition
Maximum eligible compensation. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate carrying value as of the balance sheet date of the liabilities for stock option plans and other equity-based compensation arrangements payable within one year (or the operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount in accumulated other comprehensive income expected to be recognized as a component of net periodic benefit cost over the fiscal year that follows the most recent annual statement of financial position presented, including the net gain (loss), net prior service cost or credit, and net transition asset or obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
An assumption as to the rate of return on plan assets reflecting the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the benefit obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
If aggregate disclosures are presented, the aggregate pension accumulated benefit obligation for pension plans with accumulated benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Target allocation maximum percentage of investments of this type to total plan assets presented on a weighted average basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Target allocation minimum percentage of investments of this type to total plan assets presented on a weighted average basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of pension benefit costs recognized during the period for (1) defined benefit plans and (2) defined contribution plans. For defined benefit plans, pension expense includes the following components: service cost, interest cost, expected return on plan assets, gain (loss) on plan assets, prior service cost or credit, transition asset or obligation, and gain (loss) due to settlements or curtailments. For defined contribution plans, the pension expense generally equals the firm's contribution to employees' accounts (if the firm contributes) during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Cumulative employer's contributions in excess of net pension cost recognized, before the adoption of the recognition provisions of FAS 158. Under FAS 158, prepaid pension costs are no longer recognized in the statement of financial position. Note that there is a separate concept for noncurrent assets relating to defined benefit pension and other defined benefit postretirement plans for use under the recognition provisions of FAS 158. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Change in Projected Benefit Obligation and Plan Assets (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Projected benefit obligation, beginning of year | $ 25,828 | $ 29,197 | |
| Service cost | 889 | 3,059 | 1,864 |
| Interest cost | 712 | 1,225 | 1,479 |
| Actuarial loss | 3,059 | 301 | |
| Benefits paid | (29) | (16) | |
| Amendments | 2,432 | ||
| Curtailment charge | 1,022 | ||
| Settlement loss | (3,718) | (11,392) | |
| Projected benefit obligation, end of year | 26,741 | 25,828 | 29,197 |
| Fair value of assets, beginning of year | 60,953 | 70,189 | |
| Actual return on assets | 3,543 | 2,697 | |
| Settlements | (3,718) | (11,392) | |
| Benefits and expenses paid | (681) | (541) | |
| Fair value of assets, end of year | 60,097 | 60,953 | 70,189 |
| Funded status at end of year | $ 33,356 | $ 35,125 | |
| Ratio of plan assets to projected benefit obligation | 225.00% | 236.00% | |
| X | ||||||||||
|
- Definition
Benefits And Expenses Paid No definition available.
|
| X | ||||||||||
|
- Definition
Ratio of plan assets to projected benefit obligation. No definition available.
|
| X | ||||||||||
|
- Definition
Actual return on plan assets, separately identifying the amount related to assets sold during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of gain (loss) from a decision to temporarily deviate from the substantive plan, or from a change in benefit obligation or plan asset value from changes in actuarial assumptions, for example, but not limited to, interest, mortality, employee turnover or salary scale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
1) For defined benefit pension plans, the benefit obligation is the projected benefit obligation, which is the actuarial present value as of a date of all benefits attributed by the pension benefit formula to employee service rendered prior to that date. 2) For other postretirement defined benefit plans, the benefit obligation is the accumulated postretirement benefit obligation, which is the actuarial present value of benefits attributed to employee service rendered to a particular date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of payments made for which participants are entitled under a pension plan, including pension benefits, death benefits, and benefits due on termination of employment. Also includes payments made under a postretirement benefit plan, including prescription drug benefits, health care benefits, life insurance benefits, and legal, educational and advisory services. This item represents a periodic decrease to the plan obligations and a decrease to plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of decrease that is related to an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Assets, usually stocks, bonds, and other investments, that have been segregated and restricted (usually in a trust) to provide benefits, at their fair value as of the measurement date. Plan assets include amounts contributed by the employer (and by employees for a contributory plan) and amounts earned from investing the contributions, less benefits paid. If a plan has liabilities other than for benefits, those non-benefit obligations may be considered as reductions of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The funded status is measured as the difference between the fair value of plan assets and the benefit obligation. Will normally be the same as the net Defined Benefit Plan, Amounts Recognized in Balance Sheet, Total. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of increase or decrease due to a change in the terms of an existing plan or the initiation of a new plan. A plan amendment may increase or decrease benefits, including those attributed to years of service already rendered. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of decrease that relates to an irrevocable action that relieves the employer (or the plan) of primary responsibility for a benefit obligation and eliminates significant risks related to the obligation and the assets used to effect the settlement. Examples of transactions that constitute a settlement include (a) making lump-sum cash payments to plan participants in exchange for their rights to receive specified benefits and (b) purchasing nonparticipating annuity contracts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount that relates to an irrevocable action that relieves the employer (or the plan) of primary responsibility for a benefit obligation and eliminates significant risks related to the obligation and the assets used to effect the settlement. Examples of transactions that constitute a settlement include (a) making lump-sum cash payments to plan participants in exchange for their rights to receive specified benefits and (b) purchasing nonparticipating annuity contracts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Amounts not yet Reflected in Net Periodic Pension Cost and Included in Accumulated Other Comprehensive Loss (Detail) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Defined Benefit Plan Disclosure [Line Items] | ||
| Prior service cost | $ 2,502 | |
| Loss | 8,652 | 7,378 |
| Accumulated other comprehensive loss | $ 8,652 | $ 9,880 |
| X | ||||||||||
|
- Definition
After tax total of net gain (loss), prior service cost (credit), and transition assets (obligations), as well as minimum pension liability if still remaining, included in accumulated other comprehensive income associated with a defined benefit pension or other postretirement plan(s). No definition available.
|
| X | ||||||||||
|
- Definition
After tax net amount of gain (loss) that are not yet recognized as a component of net periodic benefit cost, and that are recognized as increases (decreases) in other comprehensive income as they arise. No definition available.
|
| X | ||||||||||
|
- Definition
Amount related to after tax cost of benefit changes attributable to plan participants' prior service pursuant to a plan amendment or a plan initiation, which has not yet been recognized as components of net periodic benefit cost. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Summary of Net Periodic Pension Cost (Credit) and Other Amounts Recognized in Other Comprehensive Loss (Income) (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Service cost | $ 889 | $ 3,059 | $ 1,864 |
| Interest cost | 712 | 1,225 | 1,479 |
| Expected return on assets | (2,315) | (3,038) | (4,243) |
| Prior service costs | 440 | 649 | 695 |
| Amortization of loss | 48 | ||
| Settlement loss | 1,162 | 3,698 | 2,791 |
| One-time charge in connection with an increase in benefits for certain participants | 1,401 | ||
| Curtailment charge | 2,063 | 2,173 | 1,346 |
| Net periodic pension cost | 2,999 | 9,167 | 3,932 |
| Other changes in Plan Assets and Obligations recognized in Other Comprehensive Income: | |||
| Prior service cost | (2,503) | (769) | (282) |
| Loss (gain) | 1,275 | (2,531) | (2,368) |
| Total other comprehensive income | (1,228) | (3,300) | (2,650) |
| Total net periodic pension cost and other comprehensive income | $ 1,771 | $ 5,867 | $ 1,282 |
| X | ||||||||||
|
- Definition
Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Loss No definition available.
|
| X | ||||||||||
|
- Definition
Defined Benefit Plan, One Time Charge in Connection with Increase in Benefits No definition available.
|
| X | ||||||||||
|
- Definition
Defined Benefit Plans Amount Recognized In Net Periodic Pension Benefit Cost And Other Comprehensive Income No definition available.
|
| X | ||||||||||
|
- Definition
The amount of gains or losses recognized in net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of the prior service cost or credit recognized in net periodic benefit cost relating to benefit changes attributable to plan participants' prior service pursuant to a plan amendment or a plan initiation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
An amount calculated as a basis for determining the extent of delayed recognition of the effects of changes in the fair value of assets. The expected return on plan assets is determined based on the expected long-term rate of return on plan assets and the market-related value of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of net periodic benefit cost for defined benefit plans for the period. Periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) due to settlements or curtailments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of net gain (loss) recognized in net periodic benefit cost as a result of an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of net gain (loss) recognized in net periodic benefit cost as a result of an irrevocable action that relieves the employer (or the plan) of primary responsibility for a benefit obligation and eliminates significant risks related to the obligation and the assets used to effect the settlement. Examples of transactions that constitute a settlement include, but are not limited to, lump-sum cash payments to plan participants in exchange for their rights to receive specified benefits and purchasing nonparticipating annuity contracts to cover vested benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net of tax amount of the benefit improvement costs resulting from a plan amendment that occurred that has not been recognized in net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Net of tax amount of the (increase) decrease in the value of the projected benefit obligation and the increase (decrease) in the value of the plan assets resulting from experience different from that assumed or from a change in an actuarial assumption that has not been recognized in net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Period Benefit Obligations Assumptions (Detail)
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|---|---|---|
| Defined Benefit Plan Disclosure [Line Items] | ||
| Discount rate | 3.27% | 4.19% |
| Rate of compensation increase | 3.75% |
| X | ||||||||||
|
- Definition
The interest rate used to adjust for the time value of money for the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Expected rate of compensation increases (for pay-related plans). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Net Periodic Pension Cost Assumptions (Detail)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Defined Benefit Plan Disclosure [Line Items] | |||
| Average discount rate | 3.50% | 4.59% | 5.06% |
| Expected long term rate of return on plan assets | 4.75% | 5.00% | 6.00% |
| Rate of compensation increase | 3.75% | 3.75% | |
| X | ||||||||||
|
- Definition
The interest rate used to adjust for the time value of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
An assumption as to the rate of return on plan assets reflecting the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the benefit obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Expected rate of compensation increases (for pay-related plans). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Plan Assets at Fair Value (Detail) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
||||||
|---|---|---|---|---|---|---|---|---|---|
| Defined Benefit Plan Disclosure [Line Items] | |||||||||
| Total Asset of Fair Value | $ 60,097 | $ 60,953 | $ 70,189 | ||||||
|
Cash
|
|||||||||
| Defined Benefit Plan Disclosure [Line Items] | |||||||||
| Total Asset of Fair Value | 401 | ||||||||
|
Common/collective Trusts
|
|||||||||
| Defined Benefit Plan Disclosure [Line Items] | |||||||||
| Total Asset of Fair Value | 34,936 | [1] | 35,805 | [1] | |||||
|
Mutual Funds
|
|||||||||
| Defined Benefit Plan Disclosure [Line Items] | |||||||||
| Total Asset of Fair Value | 23,756 | [2] | 23,878 | [2] | |||||
|
Money market Funds
|
|||||||||
| Defined Benefit Plan Disclosure [Line Items] | |||||||||
| Total Asset of Fair Value | 478 | 59 | |||||||
|
Other
|
|||||||||
| Defined Benefit Plan Disclosure [Line Items] | |||||||||
| Total Asset of Fair Value | 927 | 810 | |||||||
|
Level 1
|
|||||||||
| Defined Benefit Plan Disclosure [Line Items] | |||||||||
| Total Asset of Fair Value | 478 | 460 | |||||||
|
Level 1 | Cash
|
|||||||||
| Defined Benefit Plan Disclosure [Line Items] | |||||||||
| Total Asset of Fair Value | 401 | ||||||||
|
Level 1 | Money market Funds
|
|||||||||
| Defined Benefit Plan Disclosure [Line Items] | |||||||||
| Total Asset of Fair Value | 478 | 59 | |||||||
|
Level 2
|
|||||||||
| Defined Benefit Plan Disclosure [Line Items] | |||||||||
| Total Asset of Fair Value | 58,692 | 59,683 | |||||||
|
Level 2 | Common/collective Trusts
|
|||||||||
| Defined Benefit Plan Disclosure [Line Items] | |||||||||
| Total Asset of Fair Value | 34,936 | [1] | 35,805 | [1] | |||||
|
Level 2 | Mutual Funds
|
|||||||||
| Defined Benefit Plan Disclosure [Line Items] | |||||||||
| Total Asset of Fair Value | 23,756 | [2] | 23,878 | [2] | |||||
|
Level 3
|
|||||||||
| Defined Benefit Plan Disclosure [Line Items] | |||||||||
| Total Asset of Fair Value | 927 | 810 | 582 | ||||||
|
Level 3 | Other
|
|||||||||
| Defined Benefit Plan Disclosure [Line Items] | |||||||||
| Total Asset of Fair Value | $ 927 | $ 810 | |||||||
|
|||||||||
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Assets, usually stocks, bonds, and other investments, that have been segregated and restricted (usually in a trust) to provide benefits, at their fair value as of the measurement date. Plan assets include amounts contributed by the employer (and by employees for a contributory plan) and amounts earned from investing the contributions, less benefits paid. If a plan has liabilities other than for benefits, those non-benefit obligations may be considered as reductions of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Plan Assets at Fair Value (Parenthetical) (Detail)
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|---|---|---|
|
Common/collective Trusts | U.S. short maturity fixed income investments
|
||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Percentage of fair value of investments | 67.00% | 67.00% |
|
Common/collective Trusts | U. S. Large Cap equities
|
||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Percentage of fair value of investments | 25.00% | 25.00% |
|
Common/collective Trusts | International equities
|
||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Percentage of fair value of investments | 8.00% | 8.00% |
|
Mutual Funds | Short term fixed income fund
|
||
| Defined Benefit Plan Disclosure [Line Items] | ||
| Percentage of fair value of investments | 100.00% | 100.00% |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Percentage of fair value of investments (categorized by debt securities, equity securities, real estate and other plan assets) to the fair value of plan assets held. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Changes in Fair Value of Plan's Level Three Assets (Detail) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||||
|---|---|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2012
Level 3
|
Dec. 31, 2011
Level 3
|
|
| Defined Benefit Plan Disclosure [Line Items] | |||||
| Fair value of assets, beginning of year | $ 60,097 | $ 60,953 | $ 70,189 | $ 810 | $ 582 |
| Cash receipts | 110 | 110 | |||
| Unrealized gains relating to instruments still held at the reporting date | 117 | 228 | |||
| Transfers to Level 1 | (110) | (110) | |||
| Fair value of assets, end of year | $ 60,097 | $ 60,953 | $ 70,189 | $ 927 | $ 810 |
| X | ||||||||||
|
- Definition
Actual return on plan assets, separately identifying the amount related to assets still held at the reporting date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair market value amount of assets transferred into (out of) a defined benefit pension plan. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Assets, usually stocks, bonds, and other investments, that have been segregated and restricted (usually in a trust) to provide benefits, at their fair value as of the measurement date. Plan assets include amounts contributed by the employer (and by employees for a contributory plan) and amounts earned from investing the contributions, less benefits paid. If a plan has liabilities other than for benefits, those non-benefit obligations may be considered as reductions of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Transfers in and out of Level 3. For example, transfers due to changes in the observability of significant inputs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Expected Benefit Payments (Detail) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
|---|---|
| Defined Benefit Plan Disclosure [Line Items] | |
| 2013 | $ 11,941 |
| 2014 | 675 |
| 2015 | 648 |
| 2016 | 743 |
| 2017 | 1,380 |
| 2018-2022 | $ 5,810 |
| X | ||||||||||
|
- Definition
Defined Benefit Plan, Expected Future Benefit Payments Thereafter No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of benefits expected to be paid in the next fiscal year following the latest fiscal year from a defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of benefits expected to be paid in the fifth fiscal year following the latest fiscal year from a defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of benefits expected to be paid in the fourth fiscal year following the latest fiscal year from a defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of benefits expected to be paid in the third fiscal year following the latest fiscal year from a defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of benefits expected to be paid in the second fiscal year following the latest fiscal year from a defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Information by Business Segment (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2012
|
Sep. 30, 2012
|
Jun. 30, 2012
|
Mar. 31, 2012
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
| Revenues | $ 22,614 | $ 55,907 | $ 30,357 | $ 30,518 | $ 19,820 | $ 26,745 | $ 25,284 | $ 73,436 | $ 139,396 | $ 145,285 | $ 99,540 | |||||||||||||||||
| Depreciation, depletion and amortization | 10,110 | 15,840 | 13,657 | |||||||||||||||||||||||||
| Investment income, net | 1,219 | 1,130 | 1,470 | |||||||||||||||||||||||||
| Interest expense | 2,820 | 3,921 | 8,612 | |||||||||||||||||||||||||
| Equity in loss from unconsolidated affiliates | (46) | (93) | (4,308) | |||||||||||||||||||||||||
| Consolidated (loss) from operations before equity in loss from unconsolidated affiliates and income taxes | 6,423 | (385,873) | (55,446) | |||||||||||||||||||||||||
| Capital Expenditures | 23,395 | 30,722 | 16,064 | |||||||||||||||||||||||||
| Assets | 645,521 | 661,291 | 645,521 | 661,291 | ||||||||||||||||||||||||
|
Resorts, leisure and leasing operations
|
||||||||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
| Revenues | 44,407 | 38,239 | 31,448 | |||||||||||||||||||||||||
| Depreciation, depletion and amortization | 5,714 | 6,924 | 7,158 | |||||||||||||||||||||||||
| Equity in loss from unconsolidated affiliates | (46) | (93) | (4,308) | |||||||||||||||||||||||||
| Consolidated (loss) from operations before equity in loss from unconsolidated affiliates and income taxes | (1,414) | [1] | (8,020) | [1] | (9,174) | [1] | ||||||||||||||||||||||
| Capital Expenditures | 9,023 | 4,007 | 1,340 | |||||||||||||||||||||||||
| Assets | 124,886 | [2] | 100,396 | [2] | 124,886 | [2] | 100,396 | [2] | ||||||||||||||||||||
|
Residential Real Estate
|
||||||||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
| Revenues | 22,115 | 12,595 | 8,960 | |||||||||||||||||||||||||
| Depreciation, depletion and amortization | 1,802 | 2,457 | 2,883 | |||||||||||||||||||||||||
| Investment income, net | 45 | 63 | 116 | |||||||||||||||||||||||||
| Interest expense | 2,802 | 3,555 | 7,815 | |||||||||||||||||||||||||
| Consolidated (loss) from operations before equity in loss from unconsolidated affiliates and income taxes | (6,772) | [3] | (355,080) | [3] | (37,933) | [3] | ||||||||||||||||||||||
| Capital Expenditures | 7,679 | 12,023 | 6,825 | |||||||||||||||||||||||||
| Assets | 141,526 | 166,201 | 141,526 | 166,201 | ||||||||||||||||||||||||
|
Commercial Real Estate
|
||||||||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
| Revenues | 10,400 | 3,778 | 4,416 | |||||||||||||||||||||||||
| Depreciation, depletion and amortization | 308 | 302 | ||||||||||||||||||||||||||
| Consolidated (loss) from operations before equity in loss from unconsolidated affiliates and income taxes | (271) | [4] | (42,516) | [4] | (1,813) | [4] | ||||||||||||||||||||||
| Capital Expenditures | 3,829 | 11,833 | 7,002 | |||||||||||||||||||||||||
| Assets | 64,961 | 73,520 | 64,961 | 73,520 | ||||||||||||||||||||||||
|
Rural land
|
||||||||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
| Revenues | 23,413 | 3,472 | 24,430 | |||||||||||||||||||||||||
| Depreciation, depletion and amortization | 11 | 20 | 32 | |||||||||||||||||||||||||
| Consolidated (loss) from operations before equity in loss from unconsolidated affiliates and income taxes | 16,791 | [5] | 2,158 | [5] | 20,920 | [5] | ||||||||||||||||||||||
| Assets | 6,219 | 7,885 | 6,219 | 7,885 | ||||||||||||||||||||||||
|
Forestry
|
||||||||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
| Revenues | 38,977 | 86,703 | 28,841 | |||||||||||||||||||||||||
| Depreciation, depletion and amortization | 2,105 | 4,950 | 2,099 | |||||||||||||||||||||||||
| Consolidated (loss) from operations before equity in loss from unconsolidated affiliates and income taxes | 13,475 | 59,092 | 6,437 | |||||||||||||||||||||||||
| Capital Expenditures | 2,701 | 2,766 | 785 | |||||||||||||||||||||||||
| Assets | 54,549 | 58,638 | 54,549 | 58,638 | ||||||||||||||||||||||||
|
Other
|
||||||||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
| Revenues | 84 | 498 | 1,445 | |||||||||||||||||||||||||
| Depreciation, depletion and amortization | 170 | 1,187 | 1,485 | |||||||||||||||||||||||||
| Investment income, net | 23 | 39 | 712 | |||||||||||||||||||||||||
| Consolidated (loss) from operations before equity in loss from unconsolidated affiliates and income taxes | (15,386) | [6] | (41,507) | [6] | (33,883) | [6] | ||||||||||||||||||||||
| Capital Expenditures | 163 | 93 | 112 | |||||||||||||||||||||||||
| Assets | 253,380 | 254,651 | 253,380 | 254,651 | ||||||||||||||||||||||||
|
Corporate Stock.
|
||||||||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
| Investment income, net | 1,151 | 1,028 | 642 | |||||||||||||||||||||||||
|
Commercial Other
|
||||||||||||||||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
| Interest expense | $ 18 | $ 366 | $ 797 | |||||||||||||||||||||||||
|
||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Income Loss From Unconsolidated Affiliates. No definition available.
|
| X | ||||||||||
|
- Definition
Total expenditures for additions to long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets of the reportable segment; if the amount: (a) is included in the determination of segment assets reviewed by the chief operating decision maker or (b) is otherwise regularly provided to the chief operating decision maker, even if not included in the determination of segment assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents investment income derived from investments in debt and equity securities consisting of interest income earned from investments in debt securities and on cash and cash equivalents, dividend income from investments in equity securities, and income or expense derived from the amortization of investment related discounts or premiums, respectively, net of related investment expenses. This item does not include realized or unrealized gains or losses on the sale or holding of investments in debt and equity securities required to be included in earnings for the period or for other than temporary losses related to investments in debt and equity securities which are included in realized losses in the period recognized, and does not include investment income from real or personal property, such as rental income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Information by Business Segment (Parenthetical) (Detail) (USD $)
|
3 Months Ended | 12 Months Ended | |||||
|---|---|---|---|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Segment Reporting Information [Line Items] | |||||||
| Impairment losses | $ 2,551,000 | $ 374,846,000 | $ 1,697,000 | $ 782,000 | $ 2,551,000 | $ 377,325,000 | $ 4,799,000 |
| Pension charges | 2,063,000 | 5,871,000 | 4,138,000 | ||||
|
Resorts, leisure and leasing operations
|
|||||||
| Segment Reporting Information [Line Items] | |||||||
| Impairment losses | 2,600,000 | 1,400,000 | |||||
| Investment in equity method investees | 2,200,000 | 2,300,000 | 2,200,000 | 2,300,000 | |||
|
Residential Real Estate
|
|||||||
| Segment Reporting Information [Line Items] | |||||||
| Impairment losses | 337,600,000 | 4,800,000 | |||||
|
Commercial Real Estate
|
|||||||
| Segment Reporting Information [Line Items] | |||||||
| Impairment losses | 38,200,000 | ||||||
|
Rural land
|
|||||||
| Segment Reporting Information [Line Items] | |||||||
| Impairment losses | 100,000 | ||||||
|
Other
|
|||||||
| Segment Reporting Information [Line Items] | |||||||
| Pension charges | $ 2,100,000 | $ 5,900,000 | $ 4,100,000 | ||||
| X | ||||||||||
|
- Definition
The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of net gain (loss) recognized in net periodic benefit cost due to settlements and curtailments. Curtailments result from an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Settlements result from an irrevocable action that relieves the employer (or the plan) of primary responsibility for a benefit obligation and eliminates significant risks related to the obligation and the assets used to effect the settlement. Examples of transactions that constitute a settlement include, but are not limited to, lump-sum cash payments to plan participants in exchange for their rights to receive specified benefits and purchasing nonparticipating annuity contracts to cover vested benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Commitment and Contingencies - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
1 Months Ended | 12 Months Ended | ||||
|---|---|---|---|---|---|---|
|
Nov. 30, 2010
T
|
May 31, 2010
Y
|
Oct. 21, 2009
Y
|
Dec. 31, 2012
acre
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Commitments and Contingencies Disclosure [Line Items] | ||||||
| Total rent expense | $ 0.1 | $ 2.1 | $ 2.0 | |||
| Purchase obligation | 6.7 | |||||
| Purchase obligation due in 2013 | 4.5 | |||||
| Purchase obligation due in 2014 | 0.3 | |||||
| Purchase obligation due in 2015 | 1.2 | |||||
| Purchase obligation due in 2016 | 0.7 | |||||
| Area of land contributed for joint venture | 57 | |||||
| Market value of land contributed for joint venture | 6.0 | |||||
| Estimated contribution for joint venture | 9.9 | |||||
| Amount funded for joint venture | 0.9 | |||||
| Unencumbered and unrestricted cash or cash equivalents | 25 | |||||
| Required net worth excluding deferred revenue for construction loan covenant | 350 | |||||
| Principal repayment guaranteed | 33.00% | |||||
| Dispute settlement | 9.0 | |||||
| Aggregate environmental-related accruals | 1.6 | 1.5 | ||||
| Threshold of ownership percentage in Company for private investigation of compliance | 5.00% | |||||
| Other income related to contract termination | 0.8 | |||||
| Strategic alliance agreement reimbursement period, in years | 3 | |||||
| Extension to strategic alliance agreement reimbursement period, in years | 3 | |||||
| Product amount to be sold or delivered, in tons | 3,900,000 | |||||
|
Surety bonds | Certain development projects
|
||||||
| Commitments and Contingencies Disclosure [Line Items] | ||||||
| Commitment obligations | 10.3 | 15.7 | ||||
|
Surety bonds | Standby letters of credit
|
||||||
| Commitments and Contingencies Disclosure [Line Items] | ||||||
| Commitment obligations | $ 1.1 | $ 0.8 | ||||
| X | ||||||||||
|
- Definition
Amount Funded By Company To Joint Venture No definition available.
|
| X | ||||||||||
|
- Definition
Area of Land Contributed for Joint Venture No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Estimated Cash Contributions for Joint Venture No definition available.
|
| X | ||||||||||
|
- Definition
Extension to strategic alliance agreement reimbursement period No definition available.
|
| X | ||||||||||
|
- Definition
Land Contributed for Joint Venture, Market Value No definition available.
|
| X | ||||||||||
|
- Definition
Percentage Of Loan Guaranteed Repayment No definition available.
|
| X | ||||||||||
|
- Definition
Product amount to be sold or delivered No definition available.
|
| X | ||||||||||
|
- Definition
Required Net Worth Excluding Deferred Revenue for Construction Loan Covenant No definition available.
|
| X | ||||||||||
|
- Definition
Strategic alliance agreement reimbursement period No definition available.
|
| X | ||||||||||
|
- Definition
Threshold Of Ownership Percentage In Company For Private Investigation Of Compliance No definition available.
|
| X | ||||||||||
|
- Definition
Unencumbered And Unrestricted Cash and Cash Equivalents for Construction Loan Covenant No definition available.
|
| X | ||||||||||
|
- Definition
Recorded amount of the accrual for a material component of an environmental loss contingency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gain (loss) related to the termination of a contract between the parties. The termination may be due to many causes including early termination of a lease by a lessee, a breach of contract by one party, or a failure to perform. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee or each group of similar guarantees before reduction for potential recoveries under recourse or collateralization provisions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Rental expense incurred for leased assets including furniture and equipment which has not been recognized in costs and expenses applicable to sales and revenues; for example, cost of goods sold or other operating costs and expenses. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the expenses incurred by the entity which are directly related and attributable to receiving an award in settlement of litigation. No definition available.
|
| X | ||||||||||
|
- Definition
Minimum amount of purchase arrangement in which the entity has agreed to expend funds to procure goods or services from a supplier. No definition available.
|
| X | ||||||||||
|
- Definition
Minimum amount of purchase arrangement maturing in the fourth fiscal year following the latest fiscal year. Includes, but not limited to, recorded and unrecorded purchase obligations, long-term purchase commitments, and short-term purchase commitments. No definition available.
|
| X | ||||||||||
|
- Definition
Minimum amount of purchase arrangement maturing in the next fiscal year following the latest fiscal year. Includes, but not limited to, recorded and unrecorded purchase obligations, long-term purchase commitments, and short-term purchase commitments. No definition available.
|
| X | ||||||||||
|
- Definition
Minimum amount of purchase arrangement maturing in the second fiscal year following the latest fiscal year. Includes, but not limited to, recorded and unrecorded purchase obligations, long-term purchase commitments, and short-term purchase commitments. No definition available.
|
| X | ||||||||||
|
- Definition
Minimum amount of purchase arrangement maturing in the third fiscal year following the latest fiscal year. Includes, but not limited to, recorded and unrecorded purchase obligations, long-term purchase commitments, and short-term purchase commitments. No definition available.
|
|
Future Minimum Rental Commitments under Non Cancelable Long-Term Operating Leases (Detail) (USD $)
|
Dec. 31, 2012
|
|---|---|
| Leases Future Minimum Payments [Line Items] | |
| 2013 | $ 243 |
| 2014 | 131 |
| 2015 | $ 131 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of minimum lease payments maturing in the fourth fiscal year following the latest fiscal year for sale-leaseback transactions accounted for using the deposit method or as a financing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of minimum lease payments maturing in the third fiscal year following the latest fiscal year for sale-leaseback transactions accounted for using the deposit method or as a financing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of minimum lease payments maturing in the second fiscal year following the latest fiscal year for sale-leaseback transactions accounted for using the deposit method or as a financing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Quarterly Financial Data (Detail) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2012
|
Sep. 30, 2012
|
Jun. 30, 2012
|
Mar. 31, 2012
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Supplemental Financial Information [Line Items] | |||||||||||
| Operating revenues | $ 22,614 | $ 55,907 | $ 30,357 | $ 30,518 | $ 19,820 | $ 26,745 | $ 25,284 | $ 73,436 | $ 139,396 | $ 145,285 | $ 99,540 |
| Operating income (loss) | (9,258) | 15,360 | (2,367) | (1,601) | (383,863) | (4,198) | (20,576) | 21,330 | 2,134 | (386,807) | (51,554) |
| Net income (loss) attributable to the Company | $ (8,630) | $ 15,340 | $ 176 | $ (874) | $ (328,611) | $ (2,431) | $ (13,336) | $ 14,099 | $ 6,012 | $ (330,279) | $ (35,864) |
| Basic and diluted income (loss) per share attributable to the Company | $ (0.09) | $ 0.17 | $ (0.01) | $ (3.56) | $ (0.03) | $ (0.14) | $ 0.15 | $ 0.07 | $ (3.58) | $ (0.39) | |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Quarterly Financial Information Pre-Tax Charges (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2012
|
Sep. 30, 2012
|
Jun. 30, 2012
|
Mar. 31, 2012
|
Dec. 31, 2011
|
Sep. 30, 2011
|
Jun. 30, 2011
|
Mar. 31, 2011
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Condensed Financial Statements, Captions [Line Items] | |||||||||||
| Impairment losses | $ 2,551 | $ 374,846 | $ 1,697 | $ 782 | $ 2,551 | $ 377,325 | $ 4,799 | ||||
| Restructuring charge (benefit) | $ (91) | $ 18 | $ 18 | $ 55 | $ 797 | $ 348 | $ 5,926 | $ 4,476 | $ 11,547 | $ 5,251 | |
| X | ||||||||||
|
- Definition
The charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount charged against earnings in the period for incurred and estimated costs associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, excluding asset retirement obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Real Estate and Accumulated Depreciation (Detail) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
|||
|---|---|---|---|---|---|
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrances | $ 9,244 | ||||
| Land | 132,553 | ||||
| Buildings & improvements | 36,531 | ||||
| Costs Capitalized Subsequent to Acquisition | 249,111 | [1] | |||
| Land & Land Improvements | 317,272 | ||||
| Building & Improvements | 100,923 | ||||
| Total | 418,197 | ||||
| Accumulated Depreciation | 49,772 | 44,489 | |||
|
Bay County, Florida | Land With Infrastructure
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrances | 3,496 | ||||
| Land | 2,437 | ||||
| Buildings & improvements | 8,407 | ||||
| Costs Capitalized Subsequent to Acquisition | 41,829 | [1] | |||
| Land & Land Improvements | 44,266 | ||||
| Building & Improvements | 8,407 | ||||
| Total | 52,673 | ||||
| Accumulated Depreciation | 444 | ||||
|
Bay County, Florida | Building
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 13,639 | ||||
| Buildings & improvements | 11,873 | ||||
| Costs Capitalized Subsequent to Acquisition | 1,038 | [1] | |||
| Land & Land Improvements | 14,121 | ||||
| Building & Improvements | 12,429 | ||||
| Total | 26,550 | ||||
| Accumulated Depreciation | 4,192 | ||||
|
Bay County, Florida | Residential
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 21,639 | ||||
| Buildings & improvements | 1,300 | ||||
| Costs Capitalized Subsequent to Acquisition | 17,930 | [1] | |||
| Land & Land Improvements | 43,306 | ||||
| Total | 40,869 | ||||
|
Bay County, Florida | Timberlands
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 3,896 | ||||
| Costs Capitalized Subsequent to Acquisition | 11,284 | [1] | |||
| Land & Land Improvements | 15,180 | ||||
| Total | 15,180 | ||||
| Accumulated Depreciation | 160 | ||||
|
Bay County, Florida | Unimproved Land
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 2,646 | ||||
| Land & Land Improvements | 2,646 | ||||
| Total | 2,646 | ||||
|
Calhoun County, Florida | Timberlands
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 1,774 | ||||
| Costs Capitalized Subsequent to Acquisition | 4,643 | [1] | |||
| Land & Land Improvements | 6,417 | ||||
| Total | 6,417 | ||||
| Accumulated Depreciation | 68 | ||||
|
Calhoun County, Florida | Unimproved Land
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 927 | ||||
| Costs Capitalized Subsequent to Acquisition | 698 | [1] | |||
| Land & Land Improvements | 1,625 | ||||
| Total | 1,625 | ||||
|
Duval County, Florida | Land With Infrastructure
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 185 | ||||
| Costs Capitalized Subsequent to Acquisition | (3) | [1] | |||
| Land & Land Improvements | 182 | ||||
| Total | 182 | ||||
|
Duval County, Florida | Building
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Accumulated Depreciation | 3 | ||||
|
Franklin County, Florida | Land With Infrastructure
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 44 | ||||
| Land & Land Improvements | 44 | ||||
| Total | 44 | ||||
| Accumulated Depreciation | 14 | ||||
|
Franklin County, Florida | Building
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 69 | ||||
| Buildings & improvements | 1,582 | ||||
| Costs Capitalized Subsequent to Acquisition | (718) | [1] | |||
| Land & Land Improvements | 147 | ||||
| Building & Improvements | 786 | ||||
| Total | 933 | ||||
| Accumulated Depreciation | 70 | ||||
|
Franklin County, Florida | Residential
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 7,567 | ||||
| Land & Land Improvements | 7,567 | ||||
| Total | 7,567 | ||||
| Accumulated Depreciation | 843 | ||||
|
Franklin County, Florida | Timberlands
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 1,241 | ||||
| Costs Capitalized Subsequent to Acquisition | 1,208 | [1] | |||
| Land & Land Improvements | 2,449 | ||||
| Total | 2,449 | ||||
| Accumulated Depreciation | 26 | ||||
|
Franklin County, Florida | Unimproved Land
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 210 | ||||
| Costs Capitalized Subsequent to Acquisition | 9 | [1] | |||
| Land & Land Improvements | 219 | ||||
| Total | 219 | ||||
|
Gadsden County, Florida | Land With Infrastructure
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 1,050 | ||||
| Land & Land Improvements | 1,050 | ||||
| Total | 1,050 | ||||
|
Gadsden County, Florida | Timberlands
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 1,302 | ||||
| Costs Capitalized Subsequent to Acquisition | 135 | [1] | |||
| Land & Land Improvements | 1,437 | ||||
| Total | 1,437 | ||||
| Accumulated Depreciation | 15 | ||||
|
Gadsden County, Florida | Unimproved Land
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 135 | ||||
| Land & Land Improvements | 135 | ||||
| Total | 135 | ||||
|
Gulf County, Florida | Land With Infrastructure
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 1,663 | ||||
| Buildings & improvements | 1,087 | ||||
| Costs Capitalized Subsequent to Acquisition | 3,078 | [1] | |||
| Land & Land Improvements | 4,741 | ||||
| Building & Improvements | 1,087 | ||||
| Total | 5,828 | ||||
| Accumulated Depreciation | 200 | ||||
|
Gulf County, Florida | Building
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 2,843 | ||||
| Buildings & improvements | 7,115 | ||||
| Costs Capitalized Subsequent to Acquisition | 9,743 | [1] | |||
| Land & Land Improvements | 2,807 | ||||
| Building & Improvements | 16,894 | ||||
| Total | 19,701 | ||||
| Accumulated Depreciation | 8,495 | ||||
|
Gulf County, Florida | Residential
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 26,707 | ||||
| Buildings & improvements | 526 | ||||
| Costs Capitalized Subsequent to Acquisition | 6,275 | [1] | |||
| Land & Land Improvements | 33,508 | ||||
| Total | 33,508 | ||||
|
Gulf County, Florida | Timberlands
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 5,238 | ||||
| Costs Capitalized Subsequent to Acquisition | 15,375 | [1] | |||
| Land & Land Improvements | 20,613 | ||||
| Total | 20,613 | ||||
| Accumulated Depreciation | 214 | ||||
|
Gulf County, Florida | Unimproved Land
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 506 | ||||
| Costs Capitalized Subsequent to Acquisition | 969 | [1] | |||
| Land & Land Improvements | 1,475 | ||||
| Total | 1,475 | ||||
|
Jefferson County, Florida | Timberlands
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 721 | ||||
| Costs Capitalized Subsequent to Acquisition | (8) | [1] | |||
| Land & Land Improvements | 713 | ||||
| Total | 713 | ||||
| Accumulated Depreciation | 8 | ||||
|
Jefferson County, Florida | Unimproved Land
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 193 | ||||
| Costs Capitalized Subsequent to Acquisition | 29 | [1] | |||
| Land & Land Improvements | 222 | ||||
| Total | 222 | ||||
|
Leon County, Florida | Land With Infrastructure
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 1,880 | ||||
| Costs Capitalized Subsequent to Acquisition | 651 | [1] | |||
| Land & Land Improvements | 2,531 | ||||
| Total | 2,531 | ||||
| Accumulated Depreciation | 28 | ||||
|
Leon County, Florida | Building
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Costs Capitalized Subsequent to Acquisition | 20,689 | [1] | |||
| Land & Land Improvements | 8,651 | ||||
| Building & Improvements | 12,038 | ||||
| Total | 20,689 | ||||
| Accumulated Depreciation | 9,159 | ||||
|
Leon County, Florida | Residential
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrances | 2,346 | ||||
| Buildings & improvements | 58 | ||||
| Costs Capitalized Subsequent to Acquisition | 11,825 | [1] | |||
| Land & Land Improvements | 11,883 | ||||
| Total | 11,883 | ||||
|
Leon County, Florida | Timberlands
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 923 | ||||
| Costs Capitalized Subsequent to Acquisition | 941 | [1] | |||
| Land & Land Improvements | 1,864 | ||||
| Total | 1,864 | ||||
| Accumulated Depreciation | 20 | ||||
|
Leon County, Florida | Unimproved Land
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Costs Capitalized Subsequent to Acquisition | 487 | [1] | |||
| Land & Land Improvements | 487 | ||||
| Total | 487 | ||||
|
Liberty County, Florida | Building
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Buildings & improvements | 611 | ||||
| Costs Capitalized Subsequent to Acquisition | 189 | [1] | |||
| Building & Improvements | 800 | ||||
| Total | 800 | ||||
| Accumulated Depreciation | 350 | ||||
|
Liberty County, Florida | Timberlands
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 2,587 | ||||
| Buildings & improvements | 205 | ||||
| Costs Capitalized Subsequent to Acquisition | 196 | [1] | |||
| Land & Land Improvements | 2,988 | ||||
| Total | 2,988 | ||||
| Accumulated Depreciation | 215 | ||||
|
St. Johns County, Florida | Land With Infrastructure
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 435 | ||||
| Land & Land Improvements | 435 | ||||
| Total | 435 | ||||
|
St. Johns County, Florida | Building
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Buildings & improvements | 255 | ||||
| Costs Capitalized Subsequent to Acquisition | 448 | [1] | |||
| Land & Land Improvements | 300 | ||||
| Building & Improvements | 403 | ||||
| Total | 703 | ||||
| Accumulated Depreciation | 268 | ||||
|
St. Johns County, Florida | Residential
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrances | 3,402 | ||||
| Land | 10,855 | ||||
| Costs Capitalized Subsequent to Acquisition | 4,750 | [1] | |||
| Land & Land Improvements | 15,605 | ||||
| Total | 15,605 | ||||
|
Wakulla County, Florida | Building
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Buildings & improvements | 5 | ||||
| Building & Improvements | 5 | ||||
| Total | 5 | ||||
| Accumulated Depreciation | 5 | ||||
|
Wakulla County, Florida | Timberlands
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 457 | ||||
| Costs Capitalized Subsequent to Acquisition | (32) | [1] | |||
| Land & Land Improvements | 425 | ||||
| Total | 425 | ||||
| Accumulated Depreciation | 5 | ||||
|
Wakulla County, Florida | Unimproved Land
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 16 | ||||
| Costs Capitalized Subsequent to Acquisition | 47 | [1] | |||
| Land & Land Improvements | 63 | ||||
| Total | 63 | ||||
|
Walton County, Florida | Land With Infrastructure
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 56 | ||||
| Costs Capitalized Subsequent to Acquisition | 3,063 | [1] | |||
| Land & Land Improvements | 3,119 | ||||
| Total | 3,119 | ||||
|
Walton County, Florida | Building
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Buildings & improvements | 3,471 | ||||
| Costs Capitalized Subsequent to Acquisition | 67,319 | [1] | |||
| Land & Land Improvements | 22,855 | ||||
| Building & Improvements | 47,935 | ||||
| Total | 70,790 | ||||
| Accumulated Depreciation | 24,856 | ||||
|
Walton County, Florida | Residential
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 5,227 | ||||
| Costs Capitalized Subsequent to Acquisition | 30,756 | [1] | |||
| Land & Land Improvements | 35,546 | ||||
| Total | 35,983 | ||||
|
Walton County, Florida | Timberlands
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 354 | ||||
| Costs Capitalized Subsequent to Acquisition | 988 | [1] | |||
| Land & Land Improvements | 1,342 | ||||
| Total | 1,342 | ||||
| Accumulated Depreciation | 14 | ||||
|
Walton County, Florida | Unimproved Land
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 1,105 | ||||
| Land & Land Improvements | 1,105 | ||||
| Total | 1,105 | ||||
|
Other Florida Counties | Timberlands
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 201 | ||||
| Land & Land Improvements | 201 | ||||
| Total | 201 | ||||
| Accumulated Depreciation | 2 | ||||
|
Other Florida Counties | Unimproved Land
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 79 | ||||
| Costs Capitalized Subsequent to Acquisition | 60 | [1] | |||
| Land & Land Improvements | 139 | ||||
| Total | 139 | ||||
|
Georgia | Land With Infrastructure
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 4,800 | ||||
| Land & Land Improvements | 4,800 | ||||
| Total | 4,800 | ||||
| Accumulated Depreciation | 49 | ||||
|
Georgia | Building
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Buildings & improvements | 36 | ||||
| Costs Capitalized Subsequent to Acquisition | 103 | [1] | |||
| Building & Improvements | 139 | ||||
| Total | 139 | ||||
| Accumulated Depreciation | 47 | ||||
|
Georgia | Timberlands
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 6,895 | ||||
| Costs Capitalized Subsequent to Acquisition | (6,883) | [1] | |||
| Land & Land Improvements | 12 | ||||
| Total | 12 | ||||
| Accumulated Depreciation | 2 | ||||
|
Georgia | Unimproved Land
|
|||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Land | 51 | ||||
| Land & Land Improvements | 51 | ||||
| Total | $ 53 | ||||
|
|||||
| X | ||||||||||
|
- Definition
The amount of a lien or mortgage outstanding as of the balance sheet date on a specific property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amount at which buildings and improvements are carried at the end of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amount at which land is carried at the end of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross amount at which land and buildings and improvements are carried at the end of the period for each property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of improvements made to the property and capitalized after acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Initial cost to the Entity for buildings and improvements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Initial cost to the Entity for land. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The cumulative amount of depreciation for real estate property held for investment purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Real Estate and Accumulated Depreciation (Parenthetical) (Detail) (USD $)
|
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
| Real Estate and Accumulated Depreciation [Line Items] | |||
| Aggregate cost of real estate owned for federal income tax purposes | $ 677,000,000 | ||
| Balance at Beginning of Year | 429,431,000 | 799,506,000 | 781,664,000 |
| Amounts Capitalized | 21,058,000 | 28,309,000 | 32,215,000 |
| Impairments | (2,551,000) | (377,270,000) | (4,297,000) |
| Amounts Retired or Adjusted | (29,741,000) | (21,114,000) | (10,076,000) |
| Balance at Close of Period | 418,197,000 | 429,431,000 | 799,506,000 |
| Balance at Beginning of Year | 44,489,000 | 41,992,000 | 35,000,000 |
| Depreciation Expense | 7,494,000 | 12,215,000 | 9,453,000 |
| Amounts Retired or Adjusted | (2,211,000) | (9,718,000) | (2,461,000) |
| Balance at Close of Period | $ 49,772,000 | $ 44,489,000 | $ 41,992,000 |
| X | ||||||||||
|
- Definition
Amounts capitalized real estate owned. No definition available.
|
| X | ||||||||||
|
- Definition
Amounts retired or adjusted accumulated depreciation. No definition available.
|
| X | ||||||||||
|
- Definition
Amounts retired or adjusted real estate owned. No definition available.
|
| X | ||||||||||
|
- Definition
Impairments capitalized real estate owned. No definition available.
|
| X | ||||||||||
|
- Definition
The amount as of the balance sheet date of accumulated depreciation pertaining to real estate properties. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of depreciation expense for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of the cost basis of a real estate investment for federal income tax purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Gross amount of real estate as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|