CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
ASSETS
Cash and cash equivalents	$ 100,115	$ 99,549
Investments ($48.5 million and $43.1 million measured at fair value at December 31, 2012 and 2011, respectively)	50,524	45,166
Notes and other receivables, net	10,487	6,669
Real estate and water assets, net	342,338	333,840
Property, plant and equipment, net	128,654	108,842
Other assets	35,056	16,951
Assets of discontinued operations		77,048
Total assets	667,174	688,065
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable and accrued expenses	25,063	20,833
Deferred compensation	22,607	36,315
Debt	141,008	93,431
Liabilities of discontinued operations		27,824
Total liabilities	188,678	178,403
Commitments and Contingencies
Common stock, $.001 par value; authorized 100,000 shares, 25,807 issued and 22,734 outstanding at December 31, 2012, and 27,122 issued and 22,705 outstanding at December 31, 2011	26	27
Additional paid-in capital	526,591	546,608
Retained earnings	5,215	34,288
Accumulated other comprehensive loss	(2,014)	(959)
Treasury stock, at cost (common shares: 3,073 in 2012 and 4,417 in 2011)	(56,593)	(78,152)
Total PICO Holdings, Inc. shareholders’ equity	473,225	501,812
Noncontrolling interest in subsidiaries	5,271	7,850
Total shareholders’ equity	478,496	509,662
Total liabilities and shareholders’ equity	$ 667,174	$ 688,065