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Earnings Per Share
 6 Months Ended
Jun. 30, 2015
Earnings Per Share [Abstract]  
Earnings Per Share
Basic and diluted earnings per unit are calculated by dividing net income attributable to unitholders, adjusted for non-forfeitable distributions paid out to unvested restricted unitholders and preferred shareholders of Fund II and Fund III, by the weighted average units outstanding during the period.  There were no dilutive securities outstanding during the periods presented. The following table shows the calculation of basic and diluted income per unit:

 
Quarter Ended 
 June 30,
 
Six Months Ended 
 June 30,
(in thousands, except per unit amounts)
2015
 
2014
 
2015
 
2014
Net income attributable to Pope Resources' unitholders
$
289

 
$
1,846

 
$
8,098

 
$
14,087

Less:
 

 
 

 
 

 
 

Net income attributable to unvested restricted unitholders
(25
)
 
(30
)
 
(37
)
 
(175
)
Preferred share dividends - ORM Timber Funds
(8
)
 
(8
)
 
(16
)
 
(16
)
Net income for calculation of EPS
$
256

 
$
1,808

 
$
8,045

 
$
13,896

 
 
 
 
 
 
 
 
Basic and diluted weighted average units outstanding
4,298

 
4,391

 
4,296

 
4,389

 
 
 
 
 
 
 
 
Basic and diluted earnings per unit
$
0.06

 
$
0.41

 
$
1.87

 
$
3.17