XML 45 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 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
REVENUES AND OTHER INCOME:        
Sale of real estate and water assets $ 63,780 $ 51,385 $ 89,426 $ 63,191
Sale of canola oil and meal 48,960 44,913 83,819 84,469
Sale of software    5,597    9,247
Other income 4,740 3,312 5,511 5,107
Total revenues and other income 117,480 105,207 178,756 162,014
COST OF SALES:        
Cost of real estate and water assets sold 51,601 38,219 72,656 46,272
Cost of canola oil and meal sold 40,889 49,408 75,062 94,070
Cost of software sold    632    1,933
Total cost of sales 92,490 88,259 147,718 142,275
EXPENSES:        
Operating and other costs 20,326 22,670 37,179 40,785
Impairment loss on real estate and water assets    1,410 2,865 1,410
Interest 1,403 1,719 2,880 3,418
Depreciation and amortization 763 762 1,305 1,299
Total costs and expenses 114,982 114,820 191,947 189,187
Income (loss) before income taxes and equity in loss of unconsolidated affiliates 2,498 (9,613) (13,191) (27,173)
Benefit for federal, foreign, and state income taxes (91) (114) (355) (898)
Equity in loss of unconsolidated affiliate (681)    (1,160)   
Net income (loss) 1,908 (9,499) (13,996) (26,275)
Net (income) loss attributable to noncontrolling interests (71) 1,790 2,587 3,590
Net income (loss) attributable to PICO Holdings, Inc. 1,837 (7,709) (11,409) (22,685)
Other Comprehensive Income (Loss):        
Net income (loss) 1,908 (9,499) (13,996) (26,275)
Unrealized gain (loss) on securities, net of deferred income tax and reclassification adjustments (57) 791 430 1,543
Foreign currency translation (42) (279) (2) (43)
Total other comprehensive income (loss), net of tax (99) 512 428 1,500
Comprehensive income (loss) 1,809 (8,987) (13,568) (24,775)
Comprehensive (income) loss attributable to noncontrolling interests (71) 1,790 2,587 3,590
Comprehensive income (loss) attributable to PICO Holdings, Inc. $ 1,738 $ (7,197) $ (10,981) $ (21,185)
Net loss per common share – basic and diluted:        
Net loss per common share ($ per share) $ 0.08 $ (0.34) $ (0.50) $ (1.00)
Weighted average shares outstanding 22,754 22,737 22,750 22,735