FEDERAL, FOREIGN, AND STATE CURRENT AND DEFERRED INCOME TAX (Tables)

12 Months Ended

Dec. 31, 2011

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities

The significant components of deferred income tax assets and liabilities are as follows (in thousands):

	2011			2010
Deferred tax assets:
Deferred compensation	$	14,544		$	15,633
Basis difference on investment	194			127
Impairment charges on securities	4,410			8,149
Impairment charges on water assets	13,974			8,425
Impairment charges on real estate	2,041
Capitalized expenses	3,073			2,542
Net operating losses and tax credit carryforwards (primarily state attributes)	4,486			1,998
Legal settlement expense	1,293			1,337
Accumulated foreign currency translation adjustments	2,813			2,154
Unearned revenue	710			597
Employee benefits, including stock-based compensation	5,433			4,927
Excess tax basis in affiliate	1,943
Other	2,302			3,814
Total deferred tax assets	57,216			49,703
Deferred tax liabilities:
Unrealized appreciation on securities	2,544			10,826
Revaluation of real estate and water assets	5,118			5,493
Foreign receivables	5,088			5,024
Real estate installment sales	647			1,589
Excess tax basis in affiliate	—			1,795
Other	153			1,322
Total deferred tax liabilities	13,550			26,049
Valuation allowance	(43,666		)	(3,615		)
Net deferred income tax asset	$	—		$	20,039

Schedule of Income before Income Tax, Domestic and Foreign

Pre-tax income or loss from continuing operations for the years ended December 31, was under the following jurisdictions (in thousands):

	2011			2010			2009
United States	$	(15,685	)	$	(16,142	)	$	(40,523	)
Foreign				(3,696		)	(219		)
Total pre-tax loss	$	(15,685	)	$	(19,838	)	$	(40,742	)

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense or benefit from continuing operations for each of the years ended December 31 consists of the following (in thousands):

	2011		2010			2009
Current tax expense (benefit):
United States Federal and state	$	791	$	(1,277	)	$	(20,634	)
Foreign			1,045			(92		)
	791		(232		)	(20,726		)
Deferred tax expense (benefit):
United States Federal and state	28,033		(9,250		)	704
Foreign			(1		)	762
	28,033		(9,251		)	1,466
Total income tax provision (benefit)	$	28,824	$	(9,483	)	$	(19,260	)

Schedule of Effective Income Tax Rate Reconciliation

The difference between income taxes provided at the Company’s federal statutory rate and effective tax rate is as follows (in thousands):

	2011			2010			2009
Federal income tax provision at statutory rate	$	(5,490	)	$	(6,943	)	$	(14,260	)
Change in valuation allowance	40,051			(221		)	3,249
State taxes, net of federal benefit	(2,882		)	692			(5,209		)
Change in liability for uncertain tax positions	(512		)	(1,687		)	(2,476		)
Nondeductible compensation	1,421			815			311
Previously untaxed earnings and profits from foreign subsidiaries							(1,710		)
Tax rate change through OCI	(668		)	(708		)	(350		)
Equity in loss of unconsolidated affiliate	(1,853		)	(1,301		)	(97		)
Basis difference on sale of subsidiary							2,402
Deferred Compensation – amounts no longer subject to §162(m)							(2,000		)
Other	(1,243		)	(130		)	880
Total income tax provision (benefit)	$	28,824		$	(9,483	)	$	(19,260	)

Summary of Income Tax Contingencies

The following table summarizes the activity related to the unrecognized tax benefits (in thousands):

	2011			2010			2009
Balance at beginning of year	$	567		$	2,592		$	12,608
Additions for tax positions related to the current year
Reductions due to expiration of assessment period	(567		)	(2,025		)	(10,016		)
Balance at end of year	$	0		$	567		$	2,592