Discontinued Agribusiness Operations and Other Assets Held for Sale (Tables)

9 Months Ended

Sep. 30, 2016

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures

The following table presents the details of the Company’s results from discontinued agribusiness operations included in the condensed consolidated statement of operations and comprehensive income or loss (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2016			2015			2016			2015
Revenue and other income:
Sales of canola oil and meal				$	9,600					$	82,267
Other				18						(50		)
Total revenue and other income				9,618						82,217
Cost of goods sold:
Cost of canola oil and meal sold				8,738						79,763
Depreciation				18						4,360
Other direct costs of production				1,155						5,938
Total cost of goods sold				9,911						90,061
Depreciation										95
Impairment loss on intangible and long-lived assets										1,875
Interest				428						3,259
Plant costs and overhead	$	18		9,504			$	102		16,447
Segment total expenses	18			19,843			102			111,737
Loss from discontinued agribusiness operations, net of tax	(18		)	(10,225		)	(102		)	(29,520		)
Income (loss) on sale of discontinued agribusiness operations, net of tax	2			(1,348		)	(1,858		)	(18,251		)
Net loss from discontinued agribusiness operations, net of tax	(16		)	(11,573		)	(1,960		)	(47,771		)
Net (income) loss from discontinued agribusiness operations attributable to noncontrolling interests				(16		)				1,730
Net loss from discontinued agribusiness operations attributable to PICO Holdings, Inc.	$	(16	)	$	(11,589	)	$	(1,960	)	$	(46,041	)

The following table presents the details of the Company’s assets and liabilities classified as held-for-sale in the condensed consolidated balance sheets (in thousands):

	September 30, 2016		December 31, 2015
Assets
Cash and cash equivalents	$	438	$	938
Accounts receivable	5,991		7,800
Other assets	82		55
Total agribusiness assets held-for-sale	6,511		8,793
Real estate (1)	3,400
Oil and gas assets (1)	989
Total assets held-for-sale	$	10,900	$	8,793
Liabilities
Total agribusiness liabilities held-for-sale	276		608
Oil and gas liabilities (1)	627
Total liabilities held-for-sale	$	903	$	608

⁽¹⁾ See Note 12 “Subsequent Events.”