Segment Information (Tables)

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Assets Allocated by Segment

ssets allocated by segment are as follows:

	First Quarter-End		Year-End
	2014		2013
	(In thousands)
Real estate	$	592,447	$	582,802
Oil and gas	320,972		312,553
Other natural resources	23,381		23,478
Assets not allocated to segments (a)	206,444		253,319
	$	1,143,244	$	1,172,152

  _________________________

^(a)  Assets not allocated to segments at first quarter-end2014 principally consist of cash and cash equivalents of $147,979,000 and a net deferred tax asset of $39,164,000. Assets not allocated to segments at year-end 2013 principally consist of cash and cash equivalents of $192,307,000 and a net deferred tax asset of $40,398,000.

Segment Revenues and Earnings

Segment revenues and earnings are as follows:

	First Quarter
	2014			2013
	(In thousands)
Revenues:
Real estate	$	65,480		$	78,689
Oil and gas	17,554			15,504
Other natural resources	1,571			3,278
Total revenues	$	84,605		$	97,471
Segment earnings (loss):
Real estate	$	23,575		$	19,446
Oil and gas	807			5,127
Other natural resources	(528		)	1,252
Total segment earnings	23,854			25,825
Items not allocated to segments (a)	(10,862		)	(19,881		)
Income before taxes attributable to Forestar Group Inc.	$	12,992		$	5,944

  _________________________

^(a)  Items not allocated to segments consist of:

	First Quarter
	2014			2013
	(In thousands)
General and administrative expense	$	(5,168	)	$	(4,958	)
Shared-based compensation expense	(313		)	(10,415		)
Interest expense	(5,503		)	(4,539		)
Other corporate non-operating income	122			31
	$	(10,862	)	$	(19,881	)