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Consolidated Statements of Operations (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Real Estate and Other:        
Sales of VOIs $ 57,662,000 $ 49,675,000 $ 153,474,000 $ 131,353,000
Fee-based sales commission and other revenues 27,798,000 23,638,000 66,279,000 53,280,000
Other fee-based service revenue 19,401,000 18,838,000 57,091,000 53,325,000
Interest income 20,763,000 22,032,000 62,840,000 66,439,000
Real Estate and Other, net 125,624,000 114,183,000 339,684,000 304,397,000
Financial Services:        
Interest income 4,236,000 9,156,000 19,858,000 32,161,000
Securities activities, net 22,000   22,000 (1,500,000)
Gain (loss) on sale of loans     3,000 (89,000)
Other non-interest income 112,000 12,000 208,000 31,000
Total financial services 4,370,000 9,168,000 20,091,000 30,603,000
Total revenues 129,994,000 123,351,000 359,775,000 335,000,000
Real Estate and Other:        
Cost of VOIs sold 8,252,000 7,514,000 18,922,000 21,442,000
Cost of other resort operations 10,416,000 12,912,000 35,353,000 38,149,000
Interest expense 12,379,000 15,042,000 37,598,000 49,124,000
Selling, general and administrative expenses 75,510,000 58,617,000 193,328,000 162,357,000
Other expenses   204,000   1,119,000
Total real estate and other, expense 106,557,000 94,289,000 285,201,000 272,191,000
Financial Services:        
Interest expense 2,442,000 3,930,000 10,801,000 11,630,000
Provision for (recovery from) loan losses 257,000 13,892,000 (1,135,000) 25,032,000
Employee compensation and benefits 6,669,000 5,322,000 16,197,000 17,148,000
Occupancy and equipment 627,000 2,523,000 4,653,000 8,461,000
Advertising and promotion 92,000 159,000 375,000 417,000
Professional fees 1,843,000 2,875,000 11,279,000 5,661,000
Recovery on assets held for sale     (1,165,000)  
Impairments on loans held for sale 638,000 156,000 1,097,000 1,538,000
Impairment of real estate owned 768,000 2,922,000 4,302,000 10,436,000
Other expenses 1,927,000 604,000 5,779,000 5,499,000
Total financial services expense 15,263,000 32,383,000 52,183,000 85,822,000
Total costs and expenses 121,820,000 126,672,000 337,384,000 358,013,000
Gain on settlement of investment in subsidiary       11,305,000
Gain on extinguishment of debt     29,875,000  
Gain on the sale of Benihana investment 9,307,000   9,307,000  
Equity in earnings from unconsolidated affiliates 128,000 513,000 440,000 2,765,000
Other income 972,000 318,000 1,977,000 1,295,000
Income (loss) from continuing operations before income taxes 18,581,000 (2,490,000) 63,990,000 (7,648,000)
Less: Provision (benefit) for income taxes 6,923,000 1,124,000 14,630,000 (2,715,000)
Income (loss) from continuing operations 11,658,000 (3,614,000) 49,360,000 (4,933,000)
Income (loss) from discontinued operations (including gain on disposal of BankAtlantic of $293,461) 292,306,000 6,231,000 288,128,000 (16,242,000)
Less: Provision (benefit) for income taxes 6,074,000 2,458,000 12,583,000 (6,025,000)
Income (loss) from discontinued operations 286,232,000 3,773,000 275,545,000 (10,217,000)
Net income (loss) 297,890,000 159,000 324,905,000 (15,150,000)
Less: Net income (loss) attributable to noncontrolling interests 139,760,000 1,963,000 143,816,000 (3,797,000)
Net income (loss) attributable to BFC 158,130,000 (1,804,000) 181,089,000 (11,353,000)
Preferred stock dividends   (188,000) (188,000) (563,000)
Net income (loss) to common shareholders 158,130,000 (1,992,000) 180,901,000 (11,916,000)
Basic Earnings (Loss) Per Common Share        
Earnings (loss) per share from continuing operations $ 0.01 [1] $ (0.13) [1] $ 0.40 [1] $ (0.09) [1]
(Loss) income per share from discontinued operations $ 2.04 $ 0.10 $ 1.94 $ (0.07)
Net earnings (loss) per common share $ 2.05 [1] $ (0.03) [1] $ 2.34 [1] $ (0.16) [1]
Diluted Earnings (Loss) Per Common Share        
Earnings (loss) per share from continuing operations $ 0.01 [1] $ (0.13) [1] $ 0.39 [1] $ (0.09) [1]
(Loss) earnings per share from discontinued operations $ 1.99 $ 0.10 $ 1.90 $ (0.07)
Net earnings (loss) per common share $ 2.00 [1] $ (0.03) [1] $ 2.29 [1] $ (0.16) [1]
Basic weighted average number of common shares outstanding 77,135 75,381 77,135 75,381
Diluted weighted average number of common and common equivalent shares outstanding 79,109 75,381 78,615 75,381
Amounts attributable to BFC common shareholders:        
Income (loss) from continuing operations, net of tax and noncontrolling interests 1,102,000 (9,804,000) 30,975,000 (6,703,000)
(Loss) income from discontinued operations, net of tax and noncontrolling interests 157,028,000 7,812,000 149,454,000 (5,213,000)
Net Income (loss) available to common shareholders 158,130,000 (1,992,000) 180,429,000 (11,916,000)
Adjustment to earnings per share to reflect decrease in equity     $ 500,000  
[1] In accordance with the applicable accounting guidance, during the second quarter of 2012, BFC reclassified its preferred stock as a liability due to an amendment to its rights and privileges which, among other things, requires BFC to redeem shares of the preferred stock in future periods. As a result of such reclassification, the difference between the fair value of the preferred stock and its carrying amount is required to be recorded as an adjustment to paid in capital, which is added to or deducted from net earnings available to common shareholders in the calculation of earnings per share. Earnings per share for the nine months ended September 30, 2012 was adjusted to reflect a decrease in equity of approximately $0.5 million. See Note 11 for additional information relating to BFC's preferred stock and Note 16 for additional information relating to earnings (loss) per common share.