XML 49 R35.htm IDEA: XBRL DOCUMENT v2.4.0.8
Business Segments (Tables)
 12 Months Ended
Dec. 31, 2013
Segment Reporting [Abstract]  
Reportable Segment Information
The following table summarizes our information for reportable segments for the years ended December 31, 2013, 2012, and 2011:
 
For the Year Ended
Revenues:
2013
 
2012
 
2011
Segment revenues
 
 
 
 
 
Active adult communities
$
76,589

 
$
43,032

 
$
39,934

Primary residential communities
48,062

 
35,936

 
15,272

Commercial and industrial and other land sales
16,303

 
26,595

 
31,731

Other operations
528

 
598

 
932

 
141,482

 
106,161

 
87,869

Unallocated revenues
 
 
 

 
 
Interest income
2,148

 
127

 
309

Other
70

 
1,199

 
804

Total revenues
143,700

 
107,487

 
88,982

 
 
 
 
 
 
Operating income (loss):
 
 
 
 
 
Segment operating income (loss)
 
 
 
 
 
Active adult communities
428

 
(8,919
)
 
(12,188
)
Primary residential communities
2,437

 
(9
)
 
(7,527
)
Commercial and industrial and other land sales
8,192

 
8,014

 
3,632

Other operations
(18
)
 
631

 
159

 
11,039

 
(283
)
 
(15,924
)
Unallocated income (expenses)
 
 
 

 
 
Interest income
2,148

 
127

 
309

Loss on extinguishment of debt
—

 
(1,144
)
 
(211
)
Equity gain (loss) from unconsolidated entities
(101
)
 
259

 
(398
)
General and administrative expenses
(15,975
)
 
(16,148
)
 
(17,502
)
Change in fair value of contingent consideration
—

 
—

 
4,388

Impairment of Poinciana Parkway
—

 
(7,659
)
 
—

Impairment of goodwill
—

 
—

 
(17,215
)
Interest expense
(2,830
)
 
(7,973
)
 
(9,516
)
Other real estate expenses
(2,834
)
 
(5,113
)
 
(1,654
)
   (Impairment) credit of land developed or held for future development
281

 
(49,749
)
 
(107,981
)
Loss attributable to AV Homes
$
(8,272
)
 
$
(87,683
)
 
$
(165,704
)

 
December 31
 
2013
 
2012
Segment assets:
 
 
 
Active adult communities
$
145,717


$
89,793

Primary residential communities
91,076


56,951

Commercial and industrial and other land sales
44,704


30,095

Assets held for sale
23,862


25,649

Unallocated assets
161,369


135,383

Total assets
$
466,728


$
337,871


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 represents the following as of December 31, 2013 and 2012, respectively: cash, cash equivalents and restricted cash of $148,333 and $86,163; land inventories of $4,199 and $36,715; property and equipment of $1,902 and $2,164; investment in and notes from unconsolidated entities of $1,230 and $1,220; receivables of $2,898 and $4,661; and prepaid expenses and other assets of $2,807 and $4,459. None of the foregoing are directly attributable to a reportable segment in accordance with ASC 280.

e.
There is no interest expense from active adult communities, primary residential, and commercial, industrial and other land sales included in segment operating income/(loss) for 2013, 2012 and 2011.

f.
Included in segment operating income/(loss) for 2013 is depreciation expense (including amortization of assets under capital leases) of $2,085, $46 and $673 from active adult, primary residential and unallocated G&A/other, respectively.  Included in segment operating income/(loss) for 2012 is depreciation expense of $2,069, $90 and $476 from active adult, primary residential and unallocated G&A/other, respectively.  Included in segment operating income/(loss) for 2011 is depreciation expense of $2,167, $546 and $124 from active adult, primary residential and unallocated G&A/other, respectively.

g.
During fiscal year 2013, impairment losses of approximately $32 and $1 reduced the carrying value of the assets of active adult and primary residential communities, respectively.  During fiscal year 2012, impairment losses of approximately $1,620 and $15 reduced the carrying value of the assets of active adult and primary residential communities, respectively.  During fiscal year 2011, impairment losses of approximately $1,060 and $467 reduced the carrying value of the assets of active adult and primary residential communities, respectively.