Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Information by Business Segment


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Operating revenue:
Residential	$	15,050	$	21,648	$	70,774	$	74,799
Hospitality		29,047		21,957		74,654		57,413
Commercial		12,618		10,049		43,340		34,130
Other		861		342		1,929		1,198
Consolidated operating revenue	$	57,576	$	53,996	$	190,697	$	167,540

Income (loss) before equity in income (loss) from unconsolidated joint ventures and income taxes:
Residential	$	8,473	$	12,817	$	36,073	$	41,014
Hospitality		4,404		4,195		9,187		9,901
Commercial^{(a) (b) (c) (d)}		1,992		4,623		11,533		14,867
Other^(e)		(1,126)		72		(2,961)		(7,273)
Consolidated income before equity in income (loss) from unconsolidated joint ventures and income taxes	$	13,743	$	21,707	$	53,832	$	58,509

(a)	The three and nine months ended September 30, 2022, includes a gain of $1.4 million on land and impact fees contributed to the unconsolidated Pier Park RI JV. See Note 4. Joint Ventures and Note 17. Other Income, Net for additional information.

(b)	The nine months ended September 30, 2022, includes a gain of $0.4 million on land contributed to the unconsolidated Electric Cart Watersound JV. See Note 4. Joint Ventures and Note 17. Other Income, Net for additional information.

(c)	The three and nine months ended September 30, 2021, includes $3.6 million the Company received from the Florida Division of Emergency Management’s TRBG program. See Note 7. Hurricane Michael for additional information.

(d)	The nine months ended September 30, 2021, includes a gain of $3.1 million on land contributed to the Watersound Fountains Independent Living JV. See Note 4. Joint Ventures and Note 17. Other Income, Net for additional information.

(e)

Includes gain on insurance recovery of $0.9 million and $2.5 million during the three months ended September 30, 2022 and 2021, respectively, and gain on insurance recovery of $4.2 million and $3.9 million during the nine months ended September 30, 2022 and 2021, respectively, related to Hurricane Michael. See Note 7. Hurricane Michael for additional information.


	September 30,		December 31,
	2022		2021
Total assets:
Residential	$	213,301	$	192,290
Hospitality		347,330		256,751
Commercial		457,538		378,118
Other		321,371		380,992
Total assets	$	1,339,540	$	1,208,151