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OPERATING SEGMENTS
 3 Months Ended
Dec. 31, 2012
Segment Reporting [Abstract]  
OPERATING SEGMENTS
OPERATING SEGMENTS
The Company manages its operations and makes business decisions based on three reportable operating segments, Real Estate, Financial Fund Management and Commercial Finance, and one segment, RSO, which is a consolidated VIE.  Certain other activities are reported in the “All Other” category and "Eliminations" in the tables in order for the information presented about the Company's operating segments to agree to the consolidated balance sheets and statements of operations. Summarized operating segment data are as follows (in thousands):
 
Real
Estate
 
Financial
Fund Management
 
Commercial
Finance
 
All
Other (1)
 
Total RAI
 
RSO
 
Eliminations
 
Total Consolidated
Three Months Ended
December 31, 2012:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from external customers
$
13,133

 
$
1,371

 
$
—

 
$
—

 
$
14,504

 
$
33,041

 
$
(4,811
)
 
$
42,734

Equity in earnings
(losses) of
unconsolidated entities
21

 
1,304

 
(124
)
 
—

 
1,201

 
—

 
—

 
1,201

Total revenues
13,154

 
2,675

 
(124
)
 
—

 
15,705

 
33,041

 
(4,811
)
 
43,935

Segment operating expenses
(7,998
)
 
(1,017
)
 
49

 
—

 
(8,966
)
 
(31,722
)
 
12,386

 
(28,302
)
General and
administrative expenses
(83
)
 
(578
)
 
—

 
(1,567
)
 
(2,228
)
 
—

 
—

 
(2,228
)
Provision for credit losses
(190
)
 
(457
)
 
(4,505
)
 
—

 
(5,152
)
 
—

 
—

 
(5,152
)
Depreciation and amortization
(308
)
 
(22
)
 
—

 
(162
)
 
(492
)
 
—

 
—

 
(492
)
Interest expense
(212
)
 
—

 
—

 
(310
)
 
(522
)
 
—

 
—

 
(522
)
Other income (expense), net
163

 
523

 
—

 
(46
)
 
640

 
13,733

 
(502
)
 
13,871

Gross income attributable
to noncontrolling
interests (2)
(865
)
 
—

 
—

 
—

 
(865
)
 
(14,668
)
 
—

 
(15,533
)
Income (loss) excluding
noncontrolling interest
before taxes
$
3,661

 
$
1,124

 
$
(4,580
)
 
$
(2,085
)
 
$
(1,880
)
 
$
384

 
$
7,073

 
$
5,577


 
Real
Estate
 
Financial
Fund Management
 
Commercial
Finance
 
All
Other (1)
 
Total RAI
 
RSO
 
Eliminations
 
Total
Three Months Ended
December 31, 2011:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from
external customers
$
8,060

 
$
5,913

 
$
4,134

 
$
—

 
$
18,107

 
$
25,211

 
$
(4,501
)
 
$
38,817

Equity in earnings
(losses) of
unconsolidated entities
606

 
666

 
(715
)
 
—

 
557

 
—

 
—

 
557

Total revenues
8,666

 
6,579

 
3,419

 
—

 
18,664

 
25,211

 
(4,501
)
 
39,374

Segment operating expenses
(7,192
)
 
(5,804
)
 
(1,963
)
 
—

 
(14,959
)
 
(24,798
)
 
11,538

 
(28,219
)
General and administrative expenses
(78
)
 
(869
)
 
—

 
(1,949
)
 
(2,896
)
 
—

 
—

 
(2,896
)
Loss on sales of leases and loans
—

 
—

 
37

 
—

 
37

 
—

 
—

 
37

Provision for credit losses
(104
)
 
—

 
(2,146
)
 
—

 
(2,250
)
 
—

 
—

 
(2,250
)
Depreciation and amortization
(323
)
 
(37
)
 
(1,556
)
 
(145
)
 
(2,061
)
 
—

 
—

 
(2,061
)
Interest expense
(215
)
 
—

 
(1,691
)
 
(1,068
)
 
(2,974
)
 
—

 
—

 
(2,974
)
Loss on sales of
investment securities
—

 
41

 
—

 
17

 
58

 
—

 
—

 
58

Gain on sales of subsidiary
—

 
—

 
8,749

 
—

 
8,749

 
—

 
—

 
8,749

Loss on extinguishment
of debt
—

 
—

 
—

 
(2,190
)
 
(2,190
)
 
—

 
—

 
(2,190
)
Other income
117

 
(54
)
 
—

 
(135
)
 
(72
)
 
—

 
(505
)
 
(577
)
Gross (income) loss attributable to
noncontrolling
interests (2)
(25
)
 
—

 
(224
)
 
—

 
(249
)
 
(367
)
 
571

 
(45
)
Income (loss) excluding
noncontrolling interest
before intercompany
interest expense and taxes
846

 
(144
)
 
4,625

 
(5,470
)
 
(143
)
 
46

 
7,103

 
7,006

Interest expense - intercompany
—

 
—

 
(29
)
 
29

 
—

 
—

 
—

 
—

Income (loss) excluding
noncontrolling interest
and taxes
$
846

 
$
(144
)
 
$
4,596

 
$
(5,441
)
 
$
(143
)
 
$
46

 
$
7,103

 
$
7,006


Segment assets
Real
Estate
 
Financial
Fund Management
 
Commercial
Finance
 
All
Other (1)
 
Total RAI
 
RSO
 
Eliminations
 
Total Consolidated
December 31, 2012
$
170,853

 
$
54,248

 
$
11,876

 
$
(76,770
)
 
$
160,207

 
$
2,478,251

 
$
(1,694
)
 
$
2,636,764

September 30, 2012
$
169,649

 
$
60,805

 
$
15,497

 
$
(78,138
)
 
$
167,813

 
$
2,322,429

 
$
(1,784
)
 
$
2,488,458

 
(1)
Includes general corporate expenses and assets not allocable to any particular segment.
(2)
In viewing its segment operations, management includes the pretax (income) loss attributable to noncontrolling interests.  However, these interests are excluded in (loss) income from operations as computed in accordance with U.S. GAAP and, accordingly, should be deducted to compute (loss) income from operations as reflected in the Company’s consolidated statements of operations.
Geographic information.  There were no revenues generated from the Company's European operations during the three months ended December 31, 2012 and September 30, 2012. Included in segment assets as of December 31, 2012 and September 30, 2012 were $664,000 and $1.5 million, respectively, of European assets.