XML 16 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME OR LOSS - UNAUDITED (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
REVENUES AND OTHER INCOME:        
Sale of real estate and water assets $ 23,766 $ 24,172 $ 86,957 $ 29,157
Sale of canola oil and meal 55,306 42,079 139,775 51,718
Sale of software 4,402   13,649  
Other income 23,312 1,115 28,419 4,726
Total revenues and other income 106,786 67,366 268,800 85,601
COST OF SALES:        
Cost of real estate and water assets sold 18,060 17,488 64,331 20,858
Cost of canola oil and meal sold 48,859 40,193 134,599 47,955
Cost of software sold 1,100   3,033  
Total cost of sales 68,019 57,681 201,963 68,813
EXPENSES:        
Operating and other costs 23,365 15,062 68,422 36,566
Impairment loss on real estate and water assets       1,410   
Interest 1,886 1,546 5,304 3,850
Depreciation and amortization 2,670 1,811 8,027 2,643
Total costs and expenses 95,940 76,100 285,126 111,872
Income (loss) from continuing operations before income taxes and equity in loss of unconsolidated affiliates 10,846 (8,734) (16,326) (26,271)
Provision (benefit) for federal, foreign, and state income taxes 3,637 (403) 2,739 (1,477)
Equity in loss of unconsolidated affiliate (89)    (89)   
Income (loss) from continuing operations 7,120 (8,331) (19,154) (24,794)
Income (loss) from discontinued operations, net of income taxes    1,939    (2,668)
Net income (loss) 7,120 (6,392) (19,154) (27,462)
Loss attributable to noncontrolling interests 1,046 1,127 4,636 1,869
Net income (loss) attributable to PICO Holdings, Inc. 8,166 (5,265) (14,518) (25,593)
Other Comprehensive Income (Loss):        
Unrealized appreciation (depreciation) on available-for-sale investments 864 (949) 2,407 (54)
Foreign currency translation (65) (400) (108) (295)
Total other comprehensive income (loss), net of tax 799 (1,349) 2,299 (349)
Comprehensive income (loss) 7,919 (7,741) (16,855) (27,811)
Comprehensive loss attributable to noncontrolling interests 1,046 1,127 4,636 1,869
Comprehensive income (loss) attributable to PICO Holdings, Inc. $ 8,965 $ (6,614) $ (12,219) $ (25,942)
Net income (loss) per common share – basic:        
Income (loss) from continuing operations (in dollars per share) $ 0.36 $ (0.32) $ (0.64) $ (1.01)
Loss from discontinued operations (in dollars per share)    $ 0.09    $ (0.12)
Net (income) loss per common share (in dollars per share) $ 0.36 $ (0.23) $ (0.64) $ (1.13)
Weighted average shares outstanding (in shares) 22,747 22,769 22,739 22,755
Net income (loss) per common share – diluted:        
Income (loss) from continuing operations (in dollars per share) $ 0.36 $ (0.32) $ (0.64) $ (1.01)
Loss from discontinued operations (in dollars per share)   $ 0.09   $ (0.12)
Net income (loss) per common share (in dollars per share) $ 0.36 $ (0.23) $ (0.64) $ (1.13)
Weighted average shares outstanding (in shares) 23,000 22,769 22,739 22,755