Annual report pursuant to Section 13 and 15(d)

INVESTMENTS IN OTHER REAL ESTATE - Rollforward of Investments in Other Real Estate

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INVESTMENTS IN OTHER REAL ESTATE - Rollforward of Investments in Other Real Estate (Operating Real Estate, USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Operating Real Estate
    
Gross Carrying Amount    
Balance, beginning of year $ 8,520   
Additions:    
Acquisitions of other real estate 259,573   
Improvements 144   
Transferred from assets held for sale    8,520
Disposals:    
Disposal of long-lived assets      
Balance, end of year 268,237 [1],[2] 8,520
Accumulated Depreciation    
Balance, beginning of year (1,848)   
Additions:    
Depreciation expenses (219) (1,191)
Transferred from assets held-for-sale    (657)
Disposals:    
Disposal of long-lived assets      
Balance, end of year $ (2,067) [2],[3] $ (1,848)
[1] The aggregate United States federal income tax basis for Newcastle?s other operating real estate at December 31, 2013 was approximately $266.6 million.
[2] The following is a rollforward of the gross carrying amount and accumulated depreciation of other real estate for the years ended December 31, 2013 and 2012. (See Rollforward of Investments in Other Real Estate)
[3] Depreciation is calculated on a straight line basis using the estimated useful lives detailed in Note 2.