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Segment Reporting
 9 Months Ended
Sep. 30, 2013
Segment Reporting [Abstract]  
Segment Reporting
Segment Reporting

PICO is a diversified holding company engaged in the following operating and reportable segments: Water Resource and Water Storage Operations, Real Estate Operations, Agribusiness Operations, Enterprise Software, and Corporate. The Enterprise Software segment, which started during 2013 due to the acquisition of a controlling interest in Spigit, will continue to be presented in historical periods as a segment. However, as Spigit had been deconsolidated from the Company’s consolidated financial statements as of September 10, 2013, the carrying value of the investment in Mindjet is reported within total assets of the corporate segment beginning on September 10, 2013.

The accounting policies of the reportable segments are the same as those described in the Company’s 2012 Annual Report on Form 10-K filed with the SEC, and in Note 1, Basis of Presentation. 

Management analyzes segments using the following information:

Segment assets (in thousands):
 
September 30,
2013
 
December 31,
2012
Total Assets:
 
 
 
Water resource and water storage operations
$
193,245

 
$
210,189

Real estate operations
228,244

 
145,978

Agribusiness operations
159,414

 
165,961

Corporate
195,242

 
145,046

 
$
776,145

 
$
667,174



Segment revenues and income or loss before taxes (in thousands): 
 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2013
 
2012
 
2013
 
2012
Revenue:
 
 
 
 
 
 
 
Water resource and water storage operations
$
510

 
$
1,089

 
$
25,542

 
$
2,900

Real estate operations
23,712

 
23,585

 
63,641

 
28,998

Agribusiness operations
55,308

 
42,084

 
139,788

 
51,768

Enterprise software
4,402

 


 
13,649

 


Corporate
22,854

 
608

 
26,180

 
1,935

Total revenue
$
106,786

 
$
67,366

 
$
268,800

 
$
85,601

 
 
 
 
 
 
 
 
Income (loss) before income taxes:
 
 
 
 
 
 
 
Water resource and water storage operations
$
(1,799
)
 
$
(1,559
)
 
$
737

 
$
(4,537
)
Real estate operations
(231
)
 
2,237

 
(2,701
)
 
(1,519
)
Agribusiness operations
(2,216
)
 
(6,105
)
 
(20,691
)
 
(9,159
)
Enterprise software
(2,572
)
 


 
(5,281
)
 


Corporate
17,664

 
(3,307
)
 
11,610

 
(11,056
)
Total income (loss) before income taxes
$
10,846

 
$
(8,734
)
 
$
(16,326
)
 
$
(26,271
)