Consolidated Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2012

Consolidated Real Estate and Accumulated Depreciation

Forestar Group Inc.

Schedule III — Consolidated Real Estate and Accumulated Depreciation

Year-End 2012

(In thousands)



			Initial Cost to Company			Costs Capitalized Subsequent to Acquisition					Gross Amount Carried at End of Period
Description	Encumbrances		Land		Buildings & Improvements	Improvements less Cost of Sales and Other			Carrying Costs^(a)		Land & Land Improvements		Buildings & Improvements	Total		Accumulated Depreciation	Date of Construction	Date Acquired
Entitled, Developed, and Under Development Projects:
CALIFORNIA
Contra Costa County
San Joaquin River			$	12,225		$	(3,310	)			$	8,915		$	8,915			(b)
COLORADO
Douglas County
Pinery West			7,308			2,219					9,527			9,527			2006	2006
Weld County
Buffalo Highlands			3,001			575					3,576			3,576			2006	2005
Johnstown Farms			2,749			2,643			$	188	5,580			5,580			2002	2002
Stonebraker			3,878			(1,271		)			2,607			2,607			2005	2005
FLORIDA
Hillsborough County
Bridle Path Estates			2,683								2,683			2,683				2012
GEORGIA
Bartow County
Towne West			936			923					1,859			1,859				(b)
Euharlee North			269			138					407			407				(b)
Parkside at Woodbury			134			374					508			508				(b)
Coweta County
Cedar Creek Preserve			852			228					1,080			1,080				(b)
Corinth Landing			607			585					1,192			1,192				(b)
Coweta South Industrial Park			532			477					1,009			1,009				(b)
Fox Hall			166			2,239					2,405			2,405				(b)
Genesee			480			1,176					1,656			1,656				(b)
Dawson County
Woodlands at Burt Creek			71			1,670					1,741			1,741				(b)
TEXAS
Bastrop County
Hunter’s Crossing			3,613			7,593			358		11,564			11,564			2001	2001
The Colony			8,726			12,575			161		21,462			21,462			1999	1999
Bexar County
Cibolo Canyons			25,569			50,978			1,549		78,096			78,096			2004	1986
Calhoun County
Caracol	$	6,517	8,603			3,953			2,047		14,603			14,603			2006	2006
Harbor Mist			2,822			(2,822		)			—			—				2007



			Initial Cost to Company				Costs Capitalized Subsequent to Acquisition					Gross Amount Carried at End of Period
Description	Encumbrances		Land		Buildings & Improvements		Improvements less Cost of Sales and Other			Carrying Costs^(a)		Land & Land Improvements		Buildings & Improvements		Total		Accumulated Depreciation		Date of Construction	Date Acquired
Collin County
Lakes of Prosper			$	8,951			$	7				$	8,958			$	8,958				2012
Maxwell Creek			9,904				(4,204		)	$	635	6,335				6,335				2000	2000
Timber Creek	$	3,431	7,282				3,053					10,335				10,335				2007	2007
Village Park			6,550				(129		)	81		6,502				6,502					2012
Comal County
Oak Creek Estates			1,921				1,892			175		3,988				3,988				2006	2005
Dallas County
Stoney Creek			12,822				1,324			158		14,304				14,304				2007	2007
Denton County
Lantana	5,403		31,451				831					32,282				32,282				2000	1999
The Preserve at Pecan Creek			5,855				857			436		7,148				7,148				2006	2005
Fort Bend County
Summer Lakes			4,269				(1,003		)			3,266				3,266					2012
Summer Park			4,803				(1,381		)			3,422				3,422					2012
Willow Creek Farms	113		3,479				2,161					5,640				5,640					2012
Harris County
Barrington			8,950				(1,720		)			7,230				7,230					2011
City Park	28		3,946				(2,732		)	1,641		2,855				2,855				2002	2001
Hays County
Arrowhead Ranch			12,856				1,978					14,834				14,834					2007
Hood County
Harbor Lakes			3,514				355			312		4,181				4,181				2000	1998
Nueces County
Tortuga Dunes			12,080				10,289					22,369				22,369					2006
Tarrant County
Summer Creek Ranch			2,887				(482		)			2,405				2,405					2012
The Bar C Ranch			1,365				24					1,389				1,389					2012
Williamson County
Westside at Buttercup Creek			13,149				(10,573		)	488		3,064				3,064				1993	1993
Chandler Road Properties	400		3,552				(546		)			3,006				3,006				2004	2004
La Conterra			4,023				1,743			293		6,059				6,059					2006
MISSOURI
Clay County
Somerbrook			3,061				(218		)	13		2,856				2,856				2003	2001
Other			27,390				(9,284		)	823		18,929				18,929
Total Entitled, Developed, and Under Development Projects	$	15,892	$	279,284	$	—	$	73,185		$	9,358	$	361,827	$	—	$	361,827	$	—



			Initial Cost to Company				Costs Capitalized Subsequent to Acquisition					Gross Amount Carried at End of Period
Description	Encumbrances		Land		Buildings & Improvements		Improvements less Cost of Sales and Other			Carrying Costs^(a)		Land & Land Improvements		Buildings & Improvements		Total		Accumulated Depreciation		Date of Construction	Date Acquired
Undeveloped Land and land in entitlement:
CALIFORNIA
Los Angeles County
Land In Entitlement Process			$	3,969			$	11,393				$	15,362			$	15,362				1997
GEORGIA
Bartow County
Undeveloped Land			4,055				85					4,140				4,140
Carroll County
Undeveloped Land			6,619				131					6,750				6,750
Land In Entitlement Process			9,309				2,343					11,652				11,652
Cherokee County
Undeveloped Land			3,522				98					3,620				3,620
Land In Entitlement Process			2,400				568					2,968				2,968
Coweta County
Undeveloped Land			473				318					791				791
Land In Entitlement Process			2,128				412					2,540				2,540
Dawson County
Undeveloped Land			2,394				1,761					4,155				4,155
Gilmer County
Undeveloped Land			2,908				22					2,930				2,930
Lumpkin County
Undeveloped Land			3,117				4					3,121				3,121
Paulding County
Undeveloped Land			1,406				242					1,648				1,648
Pickens County
Undeveloped Land			2,400				29					2,429				2,429
TEXAS
Bexar County
Undeveloped Land							1,588					1,588				1,588
Harris County
Land in Entitlement Process			685				1,141					1,826				1,826
San Augustine County
Undeveloped Land			1,610									1,610				1,610
Other
Undeveloped Land			9,692				4,114					13,806				13,806
Land in Entitlement Process			3,179				(1,427		)			1,752				1,752
Total Undeveloped Land and land in entitlement	$	—	$	59,866	$	—	$	22,822		$	—	$	82,688	$	—	$	82,688	$	—



			Initial Cost to Company				Costs Capitalized Subsequent to Acquisition					Gross Amount Carried at End of Period
Description	Encumbrance		Land		Buildings & Improvements		Improvements less Cost of Sales and Other			Carrying Costs^(a)		Land & Land Improvements		Buildings & Improvements		Total		Accumulated Depreciation			Date of Construction	Date Acquired
Income Producing Properties:
NORTH CAROLINA
Mechlanburg County
East Morehead			$	5,779			$	175				$	5,954			$	5,954					2012
TENNESSEE
Davidson County
Westmont			11,546				(124		)			11,422				11,422						2012
TEXAS
Dallas County
Cedar Hill			2,267				1,231					3,498				3,498						2011
Travis County
Radisson Hotel & Suites	15,400				$	10,603	35,668							$	46,271	46,271		$	(26,279	)
Promesa	18,771		2,872				27,226			$	551	30,649				30,649		(592		)	2006	2006
Hood County
Harbor Lakes Golf Club					1,446		1,615							3,061		3,061		(1,349		)	2000	1998
Total Income Producing Properties	$	34,171	$	22,464	$	12,049	$	65,791		$	551	$	51,523	$	49,332	$	100,855	$	(28,220	)
Total	$	50,063	$	361,614	$	12,049	$	161,798		$	9,909	$	496,038	$	49,332	$	545,370	$	(28,220	)

_____________________


^(a)	We do not capitalize carrying costs until development begins.


^(b)	The acquisition date for this land is not available.

Reconciliation of real estate:



	2012			2011			2010
	(In thousands)
Balance at beginning of year	$	592,322		$	585,090		$	567,229
Amounts capitalized	143,711			66,338			65,024
Amounts retired or adjusted	(190,663		)	(59,106		)	(47,163		)
Balance at close of period	$	545,370		$	592,322		$	585,090

Reconciliation of accumulated depreciation:



	2012			2011			2010
	(In thousands)
Balance at beginning of year	$	(26,955	)	$	(23,438	)	$	(24,417	)
Depreciation expense	(3,640		)	(3,547		)	(2,582		)
Amounts retired or adjusted	2,375			30			3,561
Balance at close of period	$	(28,220	)	$	(26,955	)	$	(23,438	)

- 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.

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