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Summary of Quarterly Results of Operations (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Summary of Quarterly Results of Operations
Summarized quarterly financial results for 2016 and 2015 follows:
 
First Quarter (a)
 
Second Quarter (a)
 
Third
    Quarter (a)
 
Fourth
    Quarter (a)
 
(In thousands, except per share amounts)
2016
 
 
 
 
 
 
 
Total revenues
$
37,618

 
$
47,992

 
$
47,207

 
$
64,497

Gross profit (loss)
18,579

 
(24,953
)
 
17,403

 
17,352

Operating income (loss)
13,590

 
69,528

 
6,256

 
50,980

Equity in earnings of unconsolidated ventures
47

 
188

 
3,637

 
2,251

Income from continuing operations before taxes attributable to Forestar Group Inc.
5,992

 
26,591

 
7,163

 
51,069

Income (loss) from discontinued operations, net of taxes
(8,216
)
 
(2,048
)
 
(7,164
)
 
563

Net income (loss) attributable to Forestar Group Inc.
(4,376
)
 
9,614

 
9,665

 
43,745

 
 
 
 
 
 
 
 
Net income (loss) per share — basic
 
 
 
 
 
 
 
   Continuing operations
$
0.11

 
$
0.28

 
$
0.40

 
$
1.03

   Discontinued operations
$
(0.24
)
 
$
(0.05
)
 
$
(0.17
)
 
$
0.01

Net income (loss) per share — basic
$
(0.13
)
 
$
0.23

 
$
0.23

 
$
1.04

 
 
 
 
 
 
 
 
Net income (loss) per share — diluted
 
 
 
 
 
 
 
   Continuing operations
$
0.09

 
0.28

 
0.40

 
$
1.02

   Discontinued operations
$
(0.19
)
 
(0.05
)
 
(0.17
)
 
$
0.01

Net income (loss) per share — diluted
$
(0.10
)
 
0.23

 
0.23

 
$
1.03

 
 
 
 
 
 
 
 
2015
 
 
 
 
 
 
 
Total revenues
$
37,374

 
$
43,625

 
$
32,185

 
$
105,392

Gross profit (loss)
18,012

 
21,060

 
12,879

 
46,655

Operating income (loss)
(3,424
)
 
5,919

 
(8,482
)
 
29,929

Equity in earnings of unconsolidated ventures
3,045

 
5,584

 
2,909

 
4,470

Income from continuing operations before taxes attributable to Forestar Group Inc.
(8,204
)
 
3,382

 
(13,711
)
 
26,747

Income (loss) from discontinued operations, net of taxes
(2,719
)
 
(36,992
)
 
(106,937
)
 
(39,482
)
Net loss attributable to Forestar Group Inc.
(8,158
)
 
(34,507
)
 
(164,216
)
 
(6,166
)
 
 
 
 
 
 
 
 
Net income (loss) per share — basic
 
 
 
 
 
 
 
   Continuing operations
$
(0.16
)
 
$
0.07

 
$
(1.67
)
 
$
0.97

   Discontinued operations
$
(0.08
)
 
$
(1.08
)
 
$
(3.12
)
 
$
(1.15
)
Net income (loss) per share — basic
$
(0.24
)
 
$
(1.01
)
 
$
(4.79
)
 
$
(0.18
)
 
 
 
 
 
 
 
 
Net income (loss) per share — diluted
 
 
 
 
 
 
 
   Continuing operations
$
(0.16
)
 
$
0.06

 
$
(1.67
)
 
$
0.79

   Discontinued operations
$
(0.08
)
 
$
(0.87
)
 
$
(3.12
)
 
$
(0.93
)
Net income (loss) per share — diluted
$
(0.24
)
 
$
(0.81
)
 
$
(4.79
)
 
$
(0.14
)
 _____________________
(a)Non-cash impairment charges related to real estate, water assets and unproved leasehold interests and proved oil and gas properties included in our quarterly financial results are as follows:
 
First Quarter
 
Second Quarter
 
Third
Quarter
 
Fourth
Quarter
 
(In thousands)
2016


 


 


 


   Continuing operations
$
—

 
$
48,826

 
$
7,627

 
$
3,874

   Discontinued operations
$
—

 
$
612

 
$
—

 
$
—

2015

 

 

 

   Continuing operations
$
504

 
$
225

 
$
—

 
$
315

   Discontinued operations
$
7

 
$
45,938

 
$
81,240

 
$
37,646