Annual report pursuant to Section 13 and 15(d)

SEGMENT REPORTING AND VARIABLE INTEREST ENTITIES - Segment Reporting (Details)

v3.3.1.900
SEGMENT REPORTING AND VARIABLE INTEREST ENTITIES - Segment Reporting (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Segment Reporting Information [Line Items]                      
Interest income $ 21,538 $ 23,010 $ 24,265 $ 27,078 $ 23,738 $ 27,544 $ 29,893 $ 46,452 $ 95,891 $ 127,627 $ 213,712
Interest expense (13,737) (14,715) (16,950) (16,727) (19,113) (18,411) (20,328) (22,170) (62,129) (80,022) (78,601)
Inter-segment elimination                 0 0 0
Net interest income 7,801 8,295 7,315 10,351 4,625 9,133 9,565 24,282 33,762 47,605 135,111
Total impairment (reversal) 1,857 3,460 13,679 405 (1,176) (4,015) 1,526 1,246 19,401 (2,419) (19,769)
Total operating revenues 69,363 82,864 82,803 60,826 64,674 81,494 82,737 62,632 295,856 291,537 0
Total other income (expense) (2,360) 11,987 29,373 501 4,329 12,618 41,707 15,808 39,501 74,462 35,290
Loan and security servicing expense                 291 1,199 3,857
Operating expenses - golf                 236,971 244,234  
Operating expenses-golf, repairs and maintenance expenses                 8,450 9,870  
Cost of sales - golf                 31,681 30,271 0
General and administrative expense                 10,623 9,173 17,458
General and administrative expense - acquisition and transaction expenses                 1,123 5,479  
Management fee to affiliate - Note 13                 10,692 21,039 28,057
Depreciation and amortization 7,651 7,111 7,119 6,753 7,583 7,204 6,317 5,863 28,634 26,967 4
Income tax expense - Note 15 (985) 1,257 27 46 64 0 4 140 345 208 0
Income from continuing operations (3,840) 7,900 17,841 (993) (6,309) 13,934 40,402 19,556 20,908 67,583 140,794
Income from discontinued operations, net of tax                 646 (35,189) 11,547
Net Income                 21,554 32,394 152,341
Preferred dividends (1,395) (1,395) (1,395) (1,395) (1,395) (1,395) (1,395) (1,395) (5,580) (5,580) (5,580)
Net loss (income) attributable to noncontrolling interests 76 (13) 49 181 141 21 29 661 293 852 (928)
Income Applicable To Common Stockholders (5,159) $ 6,499 $ 17,019 $ (2,092) (10,325) $ 3,936 $ 30,532 $ 3,523 16,267 27,666 145,833
Investments 1,018,507       1,630,471       1,018,507 1,630,471  
Cash and restricted cash 50,120       89,441       50,120 89,441  
Other assets 399,355       35,191       399,355 35,191  
Assets of discontinued operations 0       6,803       0 6,803  
Total Assets 1,467,982       1,761,906       1,467,982 1,761,906  
Debt, net 970,842       1,314,840       970,842 1,314,840  
Other liabilities 287,018       188,291       287,018 188,291  
Liabilities of discontinued operations 0       447       0 447  
Total Liabilities 1,257,860       1,503,578       1,257,860 1,503,578  
Preferred stock 61,583       61,583       61,583 61,583  
Noncontrolling interests (257)       36       (257) 36  
Equity (deficit) attributable to common stockholders 148,796       196,709       148,796 196,709  
Deferred Finance Costs, Current, Gross 200       400       200 400  
Discontinued Operations                      
Segment Reporting Information [Line Items]                      
Interest income                 0 0 0
Interest expense                 0 0 0
Inter-segment elimination                 0 0 0
Net interest income                 0 0 0
Total impairment (reversal)                 0 0 0
Total operating revenues                 0 0  
Total other income (expense)                 0 0 0
Loan and security servicing expense                 0 0 0
Operating expenses - golf                 0 0  
Operating expenses-golf, repairs and maintenance expenses                 0 0  
Cost of sales - golf                 0 0  
General and administrative expense                 0 0 0
General and administrative expense - acquisition and transaction expenses                 0 0  
Management fee to affiliate - Note 13                 0 0 0
Depreciation and amortization                 0 0 0
Income tax expense - Note 15                 0 0  
Income from continuing operations                 0 0  
Income from discontinued operations, net of tax                 646 (35,189) 11,547
Net Income                 646 (35,189) 11,547
Preferred dividends                 0 0 0
Net loss (income) attributable to noncontrolling interests                 0 523 (928)
Income Applicable To Common Stockholders                 646 (34,666) 10,619
Investments 0       0       0 0  
Cash and restricted cash 0       0       0 0  
Other assets 0       0       0 0  
Assets of discontinued operations 0       6,803       0 6,803  
Total Assets 0       6,803       0 6,803  
Debt, net 0       0       0 0  
Other liabilities 0       0       0 0  
Liabilities of discontinued operations 0       447       0 447  
Total Liabilities 0       447       0 447  
Preferred stock 0       0       0 0  
Noncontrolling interests 0       0       0 0  
Equity (deficit) attributable to common stockholders 0       6,356       0 6,356  
CDOs                      
Segment Reporting Information [Line Items]                      
Interest income                 32,488 84,938 119,292
Interest expense                 (6,587) (22,142) (24,996)
Inter-segment elimination                 (3,005) (7,595) (4,746)
Net interest income                 22,896 55,201 89,550
Total impairment (reversal)                 12,569 (3,303) (9,338)
Total operating revenues                 0 0  
Total other income (expense)                 30,270 41,780 23,946
Loan and security servicing expense                 283 238 741
Operating expenses - golf                 0 0  
Operating expenses-golf, repairs and maintenance expenses                 0 0  
Cost of sales - golf                 0 0  
General and administrative expense                 0 14 0
General and administrative expense - acquisition and transaction expenses                 0 0  
Management fee to affiliate - Note 13                 0 0 0
Depreciation and amortization                 0 0 0
Income tax expense - Note 15                 0 0  
Income from continuing operations                 40,314 100,032 122,093
Income from discontinued operations, net of tax                 0 0 0
Net Income                 40,314 100,032 122,093
Preferred dividends                 0 0 0
Net loss (income) attributable to noncontrolling interests                 0 0 0
Income Applicable To Common Stockholders                 40,314 100,032 122,093
Investments 46,392       473,209       46,392 473,209  
Cash and restricted cash 128       11,790       128 11,790  
Other assets 77       1,927       77 1,927  
Assets of discontinued operations 0       0       0 0  
Total Assets 46,597       486,926       46,597 486,926  
Debt, net 97,605       310,636       97,605 310,636  
Other liabilities 29       2,391       29 2,391  
Liabilities of discontinued operations 0       0       0 0  
Total Liabilities 97,634       313,027       97,634 313,027  
Preferred stock 0       0       0 0  
Noncontrolling interests 0       0       0 0  
Equity (deficit) attributable to common stockholders (51,037)       173,899       (51,037) 173,899  
Other Debt                      
Segment Reporting Information [Line Items]                      
Interest income                 66,233 50,093 98,968
Interest expense                 (38,244) (41,874) (54,534)
Inter-segment elimination                 0 1,861 4,746
Net interest income                 27,989 10,080 49,180
Total impairment (reversal)                 6,832 884 (10,431)
Total operating revenues                 0 0  
Total other income (expense)                 (4,003) 26,819 11,344
Loan and security servicing expense                 8 961 3,113
Operating expenses - golf                 0 0  
Operating expenses-golf, repairs and maintenance expenses                 0 0  
Cost of sales - golf                 0 0  
General and administrative expense                 0 2 18
General and administrative expense - acquisition and transaction expenses                 60 2,919  
Management fee to affiliate - Note 13                 0 0 0
Depreciation and amortization                 0 0 0
Income tax expense - Note 15                 0 0  
Income from continuing operations                 17,086 32,133 67,824
Income from discontinued operations, net of tax                 0 0 0
Net Income                 17,086 32,133 67,824
Preferred dividends                 0 0 0
Net loss (income) attributable to noncontrolling interests                 0 0 0
Income Applicable To Common Stockholders                 17,086 32,133 67,824
Investments 669,736       833,293       669,736 833,293  
Cash and restricted cash 1,082       877       1,082 877  
Other assets 365,104       2,190       365,104 2,190  
Assets of discontinued operations 0       0       0 0  
Total Assets 1,035,922       836,360       1,035,922 836,360  
Debt, net 740,921       791,499       740,921 791,499  
Other liabilities 107,125       4,528       107,125 4,528  
Liabilities of discontinued operations 0       0       0 0  
Total Liabilities 848,046       796,027       848,046 796,027  
Preferred stock 0       0       0 0  
Noncontrolling interests 0       0       0 0  
Equity (deficit) attributable to common stockholders 187,876       40,333       187,876 40,333  
Golf                      
Segment Reporting Information [Line Items]                      
Interest income                 152 147 0
Interest expense                 (16,520) (19,783) 0
Inter-segment elimination                 3,005 5,734 0
Net interest income                 (13,363) (13,902) 0
Total impairment (reversal)                 0 0 0
Total operating revenues                 295,856 291,537  
Total other income (expense)                 13,180 5,863 0
Loan and security servicing expense                 0 0 0
Operating expenses - golf                 236,971 244,234  
Operating expenses-golf, repairs and maintenance expenses                 8,450 9,870  
Cost of sales - golf                 31,681 30,271  
General and administrative expense                 2,983 1,435 0
General and administrative expense - acquisition and transaction expenses                 1,364 1,941  
Management fee to affiliate - Note 13                 0 0 0
Depreciation and amortization                 28,682 26,880 0
Income tax expense - Note 15                 345 208  
Income from continuing operations                 (14,803) (31,341) 0
Income from discontinued operations, net of tax                 0 0 0
Net Income                 (14,803) (31,341) 0
Preferred dividends                 0 0 0
Net loss (income) attributable to noncontrolling interests                 293 329 0
Income Applicable To Common Stockholders                 (14,510) (31,012) 0
Investments 302,379       323,969       302,379 323,969  
Cash and restricted cash 19,981       21,637       19,981 21,637  
Other assets 33,765       30,983       33,765 30,983  
Assets of discontinued operations 0       0       0 0  
Total Assets 356,125       376,589       356,125 376,589  
Debt, net 81,091       161,474       81,091 161,474  
Other liabilities 166,973       164,897       166,973 164,897  
Liabilities of discontinued operations 0       0       0 0  
Total Liabilities 248,064       326,371       248,064 326,371  
Preferred stock 0       0       0 0  
Noncontrolling interests (257)       36       (257) 36  
Equity (deficit) attributable to common stockholders 108,318       50,182       108,318 50,182  
Corporate                      
Segment Reporting Information [Line Items]                      
Interest income                 23 44 198
Interest expense                 (3,783) (3,818) (3,817)
Inter-segment elimination                 0 0 0
Net interest income                 (3,760) (3,774) (3,619)
Total impairment (reversal)                 0 0 0
Total operating revenues                 0 0  
Total other income (expense)                 54 0 0
Loan and security servicing expense                 0 0 3
Operating expenses - golf                 0 0  
Operating expenses-golf, repairs and maintenance expenses                 0 0  
Cost of sales - golf                 0 0  
General and administrative expense                 7,640 7,722 17,440
General and administrative expense - acquisition and transaction expenses                 (301) 619  
Management fee to affiliate - Note 13                 10,692 21,039 28,057
Depreciation and amortization                 (48) 87 4
Income tax expense - Note 15                 0 0  
Income from continuing operations                 (21,689) (33,241) (49,123)
Income from discontinued operations, net of tax                 0 0 0
Net Income                 (21,689) (33,241) (49,123)
Preferred dividends                 (5,580) (5,580) (5,580)
Net loss (income) attributable to noncontrolling interests                 0 0 0
Income Applicable To Common Stockholders                 (27,269) (38,821) (54,703)
Investments 0       0       0 0  
Cash and restricted cash 28,929       55,137       28,929 55,137  
Other assets 409       91       409 91  
Assets of discontinued operations 0       0       0 0  
Total Assets 29,338       55,228       29,338 55,228  
Debt, net 51,225       51,231       51,225 51,231  
Other liabilities 12,891       16,475       12,891 16,475  
Liabilities of discontinued operations 0       0       0 0  
Total Liabilities 64,116       67,706       64,116 67,706  
Preferred stock 61,583       61,583       61,583 61,583  
Noncontrolling interests 0       0       0 0  
Equity (deficit) attributable to common stockholders (96,361)       (74,061)       (96,361) (74,061)  
Eliminations                      
Segment Reporting Information [Line Items]                      
Interest income                 (3,005) (7,595) (4,746)
Interest expense                 3,005 7,595 4,746
Inter-segment elimination                 0 0 0
Net interest income                 0 0 0
Total impairment (reversal)                 0 0 0
Total operating revenues                 0 0  
Total other income (expense)                 0 0 0
Loan and security servicing expense                 0 0 0
Operating expenses - golf                 0 0  
Operating expenses-golf, repairs and maintenance expenses                 0 0  
Cost of sales - golf                 0 0  
General and administrative expense                 0 0 0
General and administrative expense - acquisition and transaction expenses                 0 0  
Management fee to affiliate - Note 13                 0 0 0
Depreciation and amortization                 0 0 0
Income tax expense - Note 15                 0 0  
Income from continuing operations                 0 0 0
Income from discontinued operations, net of tax                 0 0 0
Net Income                 0 0 0
Preferred dividends                 0 0 0
Net loss (income) attributable to noncontrolling interests                 0 0 0
Income Applicable To Common Stockholders                 0 0 $ 0
Investments 0       0       0 0  
Cash and restricted cash 0       0       0 0  
Other assets 0       0       0 0  
Assets of discontinued operations 0       0       0 0  
Total Assets 0       0       0 0  
Debt, net 0       0       0 0  
Other liabilities 0       0       0 0  
Liabilities of discontinued operations 0       0       0 0  
Total Liabilities 0       0       0 0  
Preferred stock 0       0       0 0  
Noncontrolling interests 0       0       0 0  
Equity (deficit) attributable to common stockholders 0       0       0 0  
Investments, net of eliminations         35,100         35,100  
Non Recourse VIE Financing Structures                      
Segment Reporting Information [Line Items]                      
Assets of discontinued operations 0       6,803       0 6,803  
Total Assets 427,403       899,946       427,403 899,946  
Liabilities of discontinued operations 0       447       0 447  
Total Liabilities $ 478,440       $ 663,797       $ 478,440 $ 663,797