Net Gain (Loss) on Land held for Divestiture Activity (Tables)

12 Months Ended

Dec. 31, 2014

Land Held for Divestiture disclosures [Abstract]

Schedule of Net Gain (Loss) on Land Held for Divestiture Activity

The following table summarizes the net gain (loss) on land held for divestiture activity of consolidated entities:



	Year Ended		11 Months Ended			Year Ended
	December 31, 2014		December 31, 2013			January 31, 2013
	(in thousands)
Sales of land held for divestiture	$	—	$	1,941		$	74,150
Cost of sales of land held for divestiture	—		(323		)	(56,247		)
Gain on extinguishment of debt of land held for divestiture	—		—			4,373
Net gain on closed transactions of land held for divestiture	—		1,618			22,276
Bad debt expense	—		(9,000		)	—
Impairment of land held for divestiture	—		—			(15,796		)
Net gain (loss) on land held for divestiture activity	$	—	$	(7,382	)	$	6,480

Unobservable Inputs Used to Determine Fair Value of Impairment of Land Held for Divestiture

The following table presents quantitative information about the significant unobservable inputs used to determine the fair value of impairment of consolidated land held for divestiture for the year ended January 31, 2013:



	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value January 31, 2013		Valuation Technique	Unobservable Input	Input Values
	(in thousands)
Impairment of land held for divestiture	$	15,663	Indicative bids	Indicative bids	N/A ⁽¹⁾
Impairment of land held for divestiture	$	926	Discounted cash flows⁽²⁾	N/A	N/A


(1)	These fair value measurements were developed by third party sources, subject to the Company’s corroboration for reasonableness.


(2)	The Company used a discounted cash flow technique to estimate fair value, however, due to the estimated holding period being less than 12 months, the impact of discounting was deemed immaterial.

Schedule of Net Gain (Loss) on Land Held for Divestiture Activity of Unconsolidated Entities

The following table summarizes the net gain (loss) on land held for divestiture activity of unconsolidated entities:



	Year Ended		11 Months Ended		Year Ended
	December 31, 2014		December 31, 2013		January 31, 2013
	(in thousands)
Net gain (loss) on sales of land held for divestiture of unconsolidated entities	$	—	$	1,338	$	(371	)
Impairment of investments in unconsolidated entities	—		—		(40,406		)
Net gain (loss) on land held for divestiture activity of unconsolidated entities	$	—	$	1,338	$	(40,777	)