XML 18 R48.htm IDEA: XBRL DOCUMENT v2.4.0.8
Business Segment Data (Tables)
 12 Months Ended
Dec. 31, 2013
Segment Reporting [Abstract]  
Summary of Operations in Different Segments

Information about the Company’s operations in different segments for the years ended December 31, 2013, 2012, and 2011 is as follows:

 

     Year Ended December 31,  
     2013     2012     2011  

Revenues:

       

Income Properties

    $ 12,828,214      $ 8,463,082      $ 7,679,224   

Commercial Mortgage Loan

      1,712,913        —         —    

Real Estate Operations

      5,945,510        3,098,840        501,626   

Golf Operations

      5,074,898        4,506,069        4,660,802   

Agriculture and Other Income

      276,309        164,979        124,776   
  

 

 

    

 

 

    

 

 

  

Total Revenues

    $ 25,837,844      $ 16,232,970      $ 12,966,428   
  

 

 

    

 

 

    

 

 

  

Operating Income (Loss):

       

Income Properties

    $ 11,494,240      $ 7,786,986      $ 7,152,265   

Commercial Mortgage Loan

      1,712,913        —         —    

Real Estate Operations

      2,291,609        2,393,778        (250,504 ) 

Golf Operations

      (412,177 )      (887,564 )      (1,332,835 ) 

Agriculture and Other

      127,949        (33,855 )      (526,647 ) 

General and Corporate Expenses

      (8,935,157 )      (8,395,444 )      (14,010,971 ) 
  

 

 

    

 

 

    

 

 

  

Total Operating Income (Loss)

    $ 6,279,377      $ 863,901      $ (8,968,692 ) 
  

 

 

    

 

 

    

 

 

  

Identifiable Assets:

       

Income Properties

    $ 151,682,578      $ 130,726,326      $ 116,943,722   

Commercial Mortgage Loan

      18,887,979        —         —    

Real Estate Operations

      29,929,179        34,161,944        34,529,445   

Golf Operations

      3,269,212        3,230,225        2,858,448   

Agriculture and Other

      22,414,732        16,578,405        15,934,188   
  

 

 

    

 

 

    

 

 

  

Total Assets

    $ 226,183,680      $ 184,696,900      $ 170,265,803   
  

 

 

    

 

 

    

 

 

  

Depreciation and Amortization:

       

Income Properties

    $ 2,650,310      $ 1,742,589      $ 1,500,511   

Commercial Mortgage Loan

      —         —         —    

Real Estate Operations

      —         —         —    

Golf Operations

      205,097        173,110        359,743   

Agriculture and Other

      29,910        94,806        337,215   
  

 

 

    

 

 

    

 

 

  

Total Depreciation and Amortization

    $ 2,885,317      $ 2,010,505      $ 2,197,469   
  

 

 

    

 

 

    

 

 

  

Capital Expenditures:

       

Income Properties

    $ 40,418,981      $ 25,945,926      $ 2,493,663   

Commercial Mortgage Loan

      17,658,204        —         —    

Real Estate Operations

      —         —         —    

Golf Operations

      223,690        343,969        267,273   

Agriculture and Other

      146,165        105,729        566,410   
  

 

 

    

 

 

    

 

 

  

Total Capital Expenditures

    $ 58,447,040      $ 26,395,624      $ 3,327,346