Schedule III (Consolidated) - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2016

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

SCHEDULE III (CONSOLIDATED) - REAL ESTATE AND ACCUMULATED DEPRECIATION

THE ST. JOE COMPANY

SCHEDULE III (CONSOLIDATED) - REAL ESTATE AND ACCUMULATED DEPRECIATION

DECEMBER 31, 2016

(in thousands)

			Initial Cost to Company (1)							Gross Amount at December 31, 2016
Description	Encumbrances		Land & Improvements		Buildings & Improvements		Costs Capitalized Subsequent to Acquisition or Construction (2)			Land & Land Improvements		Buildings and Improvements		Total		Accumulated Depreciation		Date of Construction or Acquisition	Depreciation Life (In Years)
Residential developments	$	2,732	$	49,884	$	11,351	$	48,154		$	107,532	$	1,857	$	109,389	$	2,654	through 2016	n/a
Commercial developments	4,769		35,656		—		22,276			57,932		—		57,932		42		through 2016	n/a
Resorts and leisure
WaterColor Inn	—		1,137		13,692		5,984			1,568		19,245		20,813		8,193		2002, 2013	10 - 40
Clubs and golf courses	—		37,851		23,998		(2,989		)	35,138		23,722		58,860		26,474		2001 - 2007	10 - 25
Marinas	—		6,400		9,529		2			6,286		9,645		15,931		4,203		2006 - 2007	10 - 25
Other	—		—		11,599		89			—		11,688		11,688		4,137		2008 - 2009	10 - 30
Commercial leasing
Pier Park North	47,519		13,711		35,243		1,270			13,449		36,775		50,224		4,238		2014 - 2016	15 - 40
Town centers	—		823		20,332		(2,251		)	784		18,120		18,904		12,728		2001 - 2008	10 - 25
VentureCrossings	—		3,203		8,491		(1,729		)	2,024		7,941		9,965		2,055		2012	10 - 25
Other	20		466		2,399		274			740		2,399		3,139		469		through 2016	10 - 25
Timberlands	—		6,421		1,872		11,315			17,322		2,286		19,608		2,131		n/a	n/a
Unimproved land	—		85		—		5,431			5,516		—		5,516		25		n/a	n/a
Total	$	55,040	$	155,637	$	138,506	$	87,826		$	248,291	$	133,678	$	381,969	$	67,349

(1)	Includes initial costs to the Company to place the assets in service.
(2)	Includes cumulative impairments.

Notes:

(A)	The aggregate cost of real estate owned at December 31, 2016 for federal income tax purposes is approximately $410.2 million.
(B)	Reconciliation of real estate owned (in thousands of dollars):

	2016			2015			2014
Balance at beginning of the year	$	377,668		$	379,944		$	436,264
Amounts capitalized	13,875			13,372			26,047
Impairments	(357		)	—			—
Cost of real estate sold	(6,489		)	(14,584		)	(76,060		)
Amounts retired or adjusted	(2,728		)	(1,064		)	(6,307		)
Balance at the end of the year	$	381,969		$	377,668		$	379,944

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

	2016			2015			2014
Balance at beginning of the year	$	64,069		$	58,132		$	53,496
Depreciation expense	6,002			6,204			5,694
Amounts retired or adjusted	(2,722		)	(267		)	(1,058		)
Balance at the end of the year	$	67,349		$	64,069		$	58,132