REVENUE RECOGNITION

12 Months Ended

Dec. 31, 2018

REVENUE RECOGNITION

REVENUE RECOGNITION

NOTE 2.      REVENUE RECOGNITION

The Company implemented FASB ASC Topic 606, Revenue from Contracts with Customers effective January 1, 2018 utilizing the modified retrospective method.

The following table summarizes the Company’s revenue from continuing operations by segment, major good and/or service, and the related timing of revenue recognition for the year ended December 31, 2018:

				Interest Income
		Income		from Commercial		Real Estate		Total
		Properties		Loan Investments		Operations		Revenues
		($000's)		($000's)		($000's)		($000's)
Major Good / Service:
	Lease Revenue - Base Rent	$	31,587	$	—	$	23	$	31,610
	Lease Revenue - CAM		2,905		—		—		2,905
	Lease Revenue - Reimbursements		2,934		—		—		2,934
	Lease Revenue - Billboards		250		—		—		250
	Above / Below Market Lease Accretion		2,339		—		—		2,339
	Contributed Leased Assets Accretion		218		—		—		218
	Lease Incentive Amortization		(302)		—		—		(302)
	Interest from Commercial Loan Investments		—		616		—		616
	Land Sale Revenue		—		—		41,452		41,452
	Revenue from Reimbursement of Infrastructure Costs		—		—		1,556		1,556
	Impact Fee and Mitigation Credit Sales		—		—		1,338		1,338
	Subsurface Lease Revenue		—		—		957		957
	Subsurface Revenue - Other		—		—		668		668
	Fill Dirt and Other Revenue		—		—		3		3
	Golf Operations		—		—		—		—
	Interest and Other Revenue		145		—		—		145
	Total Revenues	$	40,076	$	616	$	45,997	$	86,689
Timing of Revenue Recognition:
	Asset/Good Transferred at a Point in Time	$	—	$	—	$	43,461	$	43,461
	Services Transferred Over Time		145		—		1,556		1,701
	Over Lease Term		39,931		—		980		40,911
	Commercial Loan Investment Related Revenue		—		616		—		616
	Total Revenues	$	40,076	$	616	$	45,997	$	86,689

The following table summarizes the Company’s revenue from continuing operations by segment, major good and/or service, and the related timing of revenue recognition for the year ended December 31, 2017:

				Interest Income
		Income		from Commercial		Real Estate		Total
		Properties		Loan Investments		Operations		Revenues
		($000's)		($000's)		($000's)		($000's)
Major Good / Service:
	Lease Revenue - Base Rent	$	24,650	$	—	$	44	$	24,694
	Lease Revenue - CAM		2,208		—		—		2,208
	Lease Revenue - Reimbursements		2,125		—		—		2,125
	Lease Revenue - Billboards		251		—		—		251
	Above / Below Market Lease Accretion		2,194		—		—		2,194
	Lease Incentive Amortization		(50)		—		—		(50)
	Interest from Commercial Loan Investments		—		2,053		—		2,053
	Land Sale Revenue		—		—		45,471		45,471
	Revenue from Reimbursement of Infrastructure Costs		—		—		1,860		1,860
	Impact Fee and Mitigation Credit Sales		—		—		2,126		2,126
	Subsurface Lease Revenue		—		—		856		856
	Subsurface Revenue - Other		—		—		2,192		2,192
	Fill Dirt and Other Revenue		—		—		17		17
	Golf Operations		—		—		—		—
	Timber Sales Revenue		—		—		291		291
	Interest and Other Revenue		29		—		—		29
	Total Revenues	$	31,407	$	2,053	$	52,857	$	86,317
Timing of Revenue Recognition:
	Asset/Good Transferred at a Point in Time	$	—	$	—	$	50,097	$	50,097
	Services Transferred Over Time		29		—		1,860		1,889
	Over Lease Term		31,378		—		900		32,278
	Commercial Loan Investment Related Revenue		—		2,053		—		2,053
	Total Revenues	$	31,407	$	2,053	$	52,857	$	86,317

The following table summarizes the Company’s revenue from continuing operations by segment, major good and/or service, and the related timing of revenue recognition for the year ended December 31, 2016:

				Interest Income
		Income		from Commercial		Real Estate		Total
		Properties		Loan Investments		Operations		Revenues
		($000's)		($000's)		($000's)		($000's)
Major Good / Service:
	Lease Revenue - Base Rent	$	19,155	$	—	$	50	$	19,205
	Lease Revenue - CAM		2,030		—		—		2,030
	Lease Revenue - Reimbursements		1,450		—		—		1,450
	Lease Revenue - Billboards		202		—		—		202
	Above / Below Market Lease Accretion		2,240		—		—		2,240
	Interest from Commercial Loan Investments		—		2,588		—		2,588
	Land Sale Revenue		—		—		11,871		11,871
	Tomoka Town Center Percentage-of-Completion Revenue		—		—		17,490		17,490
	Revenue from Reimbursement of Infrastructure Costs		—		—		4,500		4,500
	Impact Fee and Mitigation Credit Sales		—		—		2,220		2,220
	Subsurface Lease Revenue		—		—		1,257		1,257
	Subsurface Revenue - Other		—		—		545		545
	Fill Dirt and Other Revenue		—		—		261		261
	Golf Operations		—		—		—		—
	Timber Sales Revenue		—		—		10		10
	Interest and Other Revenue		16		—		—		16
	Total Revenues	$	25,093	$	2,588	$	38,204	$	65,885
Timing of Revenue Recognition:
	Asset/Good Transferred at a Point in Time	$	—	$	—	$	14,907	$	14,907
	Services Transferred Over Time		16		—		21,990		22,006
	Over Lease Term		25,077		—		1,307		26,384
	Commercial Loan Investment Related Revenue		—		2,588		—		2,588
	Total Revenues	$	25,093	$	2,588	$	38,204	$	65,885