Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2013

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]

REAL ESTATE AND ACCUMULATED DEPRECIATION

THE ST. JOE COMPANY

SCHEDULE III (CONSOLIDATED) - REAL ESTATE AND ACCUMULATED DEPRECIATION

DECEMBER 31, 2013

(in thousands)

	Initial Cost to Company
Description	Encumbrances		Land		Buildings & Improvements		Costs Capitalized Subsequent to Acquisition(1)		Land & Land Improvements		Buildings and Improvements		Total		Accumulated Depreciation
Land with infrastructure	$	3,428	$	12,390	$	7,929	$	51,792	$	64,182	$	7,929	$	72,111	$	923
Buildings	—		16,551		25,153		99,899		48,592		92,465		141,057		50,899
Residential and resorts and leisure	8,085		71,774		1,884		84,894		159,098		—		159,098		843
Timberlands	—		25,589		—		30,146		55,735		—		55,735		831
Unimproved land	—		5,965		—		2,298		8,263		—		8,263		—
Total	$	11,513	$	132,269	$	34,966	$	269,029	$	335,870	$	100,394	$	436,264	$	53,496

(1) Includes cumulative impairments.

Notes:

(A)	The aggregate cost of real estate owned at December 31, 2013 for federal income tax purposes is approximately $699 million.
(B)	Reconciliation of real estate owned (in thousands of dollars):

	2013			2012			2011
Balance at beginning of the year	$	418,197		$	429,431		$	799,506
Amounts capitalized	44,795			21,058			28,309
Impairments	(5,080		)	(2,551		)	(377,270		)
Cost of real estate sold	(22,022		)	(27,248		)	(10,444		)
Amounts retired or adjusted	374			(2,493		)	(10,670		)
Balance at the end of the year	$	436,264		$	418,197		$	429,431

(C)  Reconciliation of accumulated depreciation (in thousands of dollars):

	2013			2012			2011
Balance at beginning of the year	$	49,772		$	44,489		$	41,992
Depreciation expense	6,547			7,494			12,215
Amounts retired or adjusted	(2,823		)	(2,211		)	(9,718		)
Balance at the end of the year	$	53,496		$	49,772		$	44,489