Financial Information Relating To Reportable Segments

9 Months Ended

Sep. 30, 2011

Financial Information Relating To Reportable Segments [Abstract]

Financial Information Relating To Reportable Segments

Financial Information Relating To Reportable Segments

The following table summarizes Avatar's information for reportable segments:

	Nine Months Ended						Three Months Ended
	September 30,						September 30,
Revenues:	2011			2010			2011			2010
Segment revenues
Active adult communities	$	28,066		$	23,987		$	10,793		$	6,934
Primary residential		9,752			9,788			2,813			1,473
Commercial and industrial and other land sales		15,285			787			220			764
Other operations		851			708			147			109
		53,954			35,270			13,974			9,280
Unallocated revenues
Interest income		395			401			95			147
Other		932			827			634			146
Total revenues	$	55,281		$	36,498		$	14,703		$	9,573
Operating income (loss):
Segment operating income (loss)
Active adult communities	$	(7,756	)	$	(3,280	)	$	(2,306	)	$	(1,802	)
Primary residential		(39,864	)		(3,771	)		(37,650	)		(1,268	)
Commercial and industrial and other land sales		4,984			28			(1,833	)		55
Other operations		122			178			7			(92	)
		(42,514	)		(6,845	)		(41,783	)		(3,107	)
Unallocated income (expenses):
Interest income		395			401			95			147
Loss on repurchase of 4.50% Notes		(211	)		-			-			-
Equity earnings (losses) from unconsolidated entities		(326	)		(331	)		(341)			(124	)
Net loss attributable to non-controlling interests		387			417			132			145
General and administrative expenses		(12,865	)		(12,641	)		(5,093	)		(4,796	)
Change in fair value of contingent consideration		4,388			-			3,366			-
Interest expense		(7,230	)		(4,288	)		(2,437	)		(1,126	)
Other real estate expenses		(3,610	)		(2,486	)		(2,002	)		(1033	)
Impairment of goodwill		(17,215	)		-			(17,215	)		-
Impairment of land developed or held for future development		(69,733	)		-			(56,633	)		-
Loss before income taxes	$	(148,534	)	$	(25,773	)	$	(121,911	)	$	(9,894	)

	September 30		December 31
Assets:	2011		2010
Segment assets
Active adult communities	$	158,246	$	184,656
Primary residential		62,744		73,092
Commercial and industrial and other land sales		9,092		10,587
Poinciana Parkway		8,452		8,452
Assets held for sale		30,117		70,479
Unallocated assets		167,155		198,185
Total assets	$	435,806	$	545,451

(a) Our businesses are conducted in the United States.

(b) Identifiable assets by segment are those assets that are used in the operations of each segment.

(c) No significant part of the business is dependent upon a single customer or group of customers.

(d) The caption “Unallocated assets” under the table depicting the segment assets primarily represents the following as of September 30, 2011 and 2010, respectively: cash, cash equivalents and restricted cash of $131,535 and $114,555; land inventories of $21,798 and $56,833 (a majority of which is bulk land); investment in and notes from unconsolidated entities of $861  and $5,193; receivables of $5,096  and $4,661; and prepaid expenses and other assets of $6,449 and $3,006. None of the foregoing are directly attributable to a reportable segment in accordance with ASC 280.