Table 1
Summary of Land-Use Entitlements (1)  Active JOE Residential and Mixed-Use Projects
June 30, 2009
 ResidentialUnits
    
    Residential
    
    Total
    
    RemainingClosed
    
    Units Under
    
    Residential
    
    CommercialProject
    
    Project
    
    Since
    
    Contract as
    
    Units
    
    EntitlementsProject
    
    Class.(2)
    
    County
    
    Acres
    
    Units(3)
    
    Inception
    
    of 6/30/09
    
    Remaining
    
    (Sq. Ft.)(4)In Development:(5)Artisan Park (6)
    
    PR
    
    Osceola
    
    
    175
    
    
    
    616
    
    
    
    588
    
    
    
    
    
    
    
    28
    
    
    
    Hawks Landing
    
    PR
    
    Bay
    
    
    88
    
    
    
    168
    
    
    
    136
    
    
    
    
    
    
    
    32
    
    
    
    Landings at Wetappo
    
    RR
    
    Gulf
    
    
    113
    
    
    
    24
    
    
    
    7
    
    
    
    
    
    
    
    17
    
    
    
    RiverCamps on Crooked Creek
    
    RS
    
    Bay
    
    
    1,491
    
    
    
    408
    
    
    
    188
    
    
    
    
    
    
    
    220
    
    
    
    RiverSide at Chipola
    
    RR
    
    Calhoun
    
    
    120
    
    
    
    10
    
    
    
    2
    
    
    
    
    
    
    
    8
    
    
    
    RiverTown
    
    PR
    
    St. Johns
    
    
    4,170
    
    
    
    4,500
    
    
    
    30
    
    
    
    
    
    
    
    4,470
    
    
    
    500,000SouthWood
    
    PR
    
    Leon
    
    
    3,370
    
    
    
    4,770
    
    
    
    2,535
    
    
    
    
    
    
    
    2,235
    
    
    
    4,577,360St. Johns Golf & Country Club
    
    PR
    
    St. Johns
    
    
    880
    
    
    
    799
    
    
    
    799
    
    
    
    
    
    
    
    
    
    
    
    SummerCamp Beach
    
    RS
    
    Franklin
    
    
    762
    
    
    
    499
    
    
    
    81
    
    
    
    
    
    
    
    418
    
    
    
    25,000Victoria Park
    
    PR
    
    Volusia
    
    
    1,859
    
    
    
    4,200
    
    
    
    1,458
    
    
    
    40
    
    
    
    2,702
    
    
    
    43,643WaterColor
    
    RS
    
    Walton
    
    
    499
    
    
    
    1,140
    
    
    
    907
    
    
    
    
    
    
    
    233
    
    
    
    47,600WaterSound
    
    RS
    
    Walton
    
    
    2,425
    
    
    
    1,432
    
    
    
    26
    
    
    
    
    
    
    
    1,406
    
    
    
    457,380WaterSound Beach
    
    RS
    
    Walton
    
    
    256
    
    
    
    511
    
    
    
    445
    
    
    
    
    
    
    
    66
    
    
    
    29,000WaterSound West Beach
    
    RS
    
    Walton
    
    
    62
    
    
    
    199
    
    
    
    40
    
    
    
    
    
    
    
    159
    
    
    
    Wild Heron (7)
    
    RS
    
    Bay
    
    
    17
    
    
    
    28
    
    
    
    2
    
    
    
    
    
    
    
    26
    
    
    
    WindMark Beach
    
    RS
    
    Gulf
    
    
    2,020
    
    
    
    1,662
    
    
    
    141
    
    
    
    
    
    
    
    1,521
    
    
    
    75,000Subtotal
    
    
    
    
    
    
    18,307
    
    
    
    20,966
    
    
    
    7,385
    
    
    
    40
    
    
    
    13,541
    
    
    
    5,754,983In Pre-Development:(5)Avenue A
    
    PR
    
    Gulf
    
    
    6
    
    
    
    96
    
    
    
    
    
    
    
    
    
    
    
    96
    
    
    
    Bayview Estates
    
    PR
    
    Gulf
    
    
    31
    
    
    
    45
    
    
    
    
    
    
    
    
    
    
    
    45
    
    
    
    Bayview Multifamily
    
    PR
    
    Gulf
    
    
    20
    
    
    
    300
    
    
    
    
    
    
    
    
    
    
    
    300
    
    
    
    Beacon Hill
    
    RR
    
    Gulf
    
    
    3
    
    
    
    12
    
    
    
    
    
    
    
    
    
    
    
    12
    
    
    
    Beckrich NE
    
    PR
    
    Bay
    
    
    15
    
    
    
    70
    
    
    
    
    
    
    
    
    
    
    
    70
    
    
    
    Boggy Creek
    
    PR
    
    Bay
    
    
    630
    
    
    
    526
    
    
    
    
    
    
    
    
    
    
    
    526
    
    
    
    Bonfire Beach
    
    RS
    
    Bay
    
    
    550
    
    
    
    750
    
    
    
    
    
    
    
    
    
    
    
    750
    
    
    
    70,000Breakfast Point, Phase 1
    
    PR/RS
    
    Bay
    
    
    115
    
    
    
    320
    
    
    
    
    
    
    
    
    
    
    
    320
    
    
    
    Carrabelle East
    
    PR
    
    Franklin
    
    
    200
    
    
    
    600
    
    
    
    
    
    
    
    
    
    
    
    600
    
    
    
    College Station
    
    PR
    
    Bay
    
    
    567
    
    
    
    800
    
    
    
    
    
    
    
    
    
    
    
    800
    
    
    
    Cutter Ridge
    
    PR
    
    Franklin
    
    
    10
    
    
    
    25
    
    
    
    
    
    
    
    
    
    
    
    25
    
    
    
    DeerPoint Cedar Grove
    
    PR
    
    Bay
    
    
    668
    
    
    
    950
    
    
    
    
    
    
    
    
    
    
    
    950
    
    
    
    East Lake Creek
    
    PR
    
    Bay
    
    
    81
    
    
    
    313
    
    
    
    
    
    
    
    
    
    
    
    313
    
    
    
    East Lake Powell
    
    RS
    
    Bay
    
    
    181
    
    
    
    360
    
    
    
    
    
    
    
    
    
    
    
    360
    
    
    
    30,000Howards Creek
    
    RR
    
    Gulf
    
    
    8
    
    
    
    33
    
    
    
    
    
    
    
    
    
    
    
    33
    
    
    
    Laguna Beach West
    
    PR
    
    Bay
    
    
    36
    
    
    
    268
    
    
    
    
    
    
    
    
    
    
    
    268
    
    
    
    Long Avenue
    
    PR
    
    Gulf
    
    
    10
    
    
    
    30
    
    
    
    
    
    
    
    
    
    
    
    30
    
    
    
    Palmetto Bayou
    
    PR
    
    Bay
    
    
    58
    
    
    
    217
    
    
    
    
    
    
    
    
    
    
    
    217
    
    
    
    90,000ParkSide
    
    PR
    
    Bay
    
    
    48
    
    
    
    480
    
    
    
    
    
    
    
    
    
    
    
    480
    
    
    
    Pier Park NE
    
    PR
    
    Bay
    
    
    57
    
    
    
    460
    
    
    
    
    
    
    
    
    
    
    
    460
    
    
    
    190,000Pier Park Timeshare
    
    RS
    
    Bay
    
    
    13
    
    
    
    125
    
    
    
    
    
    
    
    
    
    
    
    125
    
    
    
    PineWood
    
    PR
    
    Bay
    
    
    104
    
    
    
    264
    
    
    
    
    
    
    
    
    
    
    
    264
    
    
    
    Port St. Joe Draper, Phase 1
    
    PR
    
    Gulf
    
    
    639
    
    
    
    1,200
    
    
    
    
    
    
    
    
    
    
    
    1,200
    
    
    
    Port St. Joe Draper, Phase 2
    
    PR
    
    Gulf
    
    
    981
    
    
    
    2,125
    
    
    
    
    
    
    
    
    
    
    
    2,125
    
    
    
    150,000Port St. Joe Town Center
    
    RS
    
    Gulf
    
    
    180
    
    
    
    624
    
    
    
    
    
    
    
    
    
    
    
    624
    
    
    
    500,000Powell Adams
    
    RS
    
    Bay
    
    
    56
    
    
    
    2,520
    
    
    
    
    
    
    
    
    
    
    
    2,520
    
    
    
    Sabal Island
    
    RS
    
    Gulf
    
    
    45
    
    
    
    18
    
    
    
    
    
    
    
    
    
    
    
    18
    
    
    
    SevenShores
    
    RS
    
    Manatee
    
    
    93
    
    
    
    278
    
    
    
    
    
    
    
    
    
    
    
    278
    
    
    
    20,400South Walton Multifamily
    
    PR
    
    Walton
    
    
    40
    
    
    
    212
    
    
    
    
    
    
    
    
    
    
    
    212
    
    
    
    St. James Island Granite Point
    
    RS
    
    Franklin
    
    
    1,000
    
    
    
    2,000
    
    
    
    
    
    
    
    
    
    
    
    2,000
    
    
    
    Star Avenue North
    
    PR
    
    Bay
    
    
    271
    
    
    
    1,248
    
    
    
    
    
    
    
    
    
    
    
    1,248
    
    
    
    380,000The Cove
    
    RR
    
    Gulf
    
    
    64
    
    
    
    107
    
    
    
    
    
    
    
    
    
    
    
    107
    
    
    
    Timber Island (8)
    
    RS
    
    Franklin
    
    
    49
    
    
    
    407
    
    
    
    
    
    
    
    
    
    
    
    407
    
    
    
    14,500Topsail
    
    PR
    
    Walton
    
    
    115
    
    
    
    627
    
    
    
    
    
    
    
    
    
    
    
    627
    
    
    
    300,000Wavecrest
    
    RS
    
    Bay
    
    
    7
    
    
    
    95
    
    
    
    
    
    
    
    
    
    
    
    95
    
    
    
    WestBay Corners SE
    
    PR
    
    Bay
    
    
    100
    
    
    
    524
    
    
    
    
    
    
    
    
    
    
    
    524
    
    
    
    50,000WestBay Corners SW
    
    PR
    
    Bay
    
    
    64
    
    
    
    160
    
    
    
    
    
    
    
    
    
    
    
    160
    
    
    
    WestBay DSAP 1
    
    PR/RS
    
    Bay
    
    
    15,089
    
    
    
    5,628
    
    
    
    
    
    
    
    
    
    
    
    5,628
    
    
    
    4,430,000WestBay Landing (9)
    
    RS
    
    Bay
    
    
    950
    
    
    
    214
    
    
    
    
    
    
    
    
    
    
    
    214
    
    
    
    Subtotal
    
    
    
    
    
    
    23,154
    
    
    
    25,031
    
    
    
    
    
    
    
    
    
    
    
    25,031
    
    
    
    6,224,900Total
    
    
    
    
    
    
    41,461
    
    
    
    45,997
    
    
    
    7,385
    
    
    
    40
    
    
    
    38,572
    
    
    
    11,979,883




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##### 



(1)
    
    A project is deemed land-use entitled when all major discretionary governmental
land-use approvals have been received. Some of these projects may require additional permits
for development and/or build-out; they also may be subject to legal challenge.(2)
    
    Current JOE land classifications for its residential developments or the
residential portion of its mixed-use projects: 
    
    PR  Primary residential
    
    RS  Resort and seasonal residential
    
    RR  Rural residential
 
 (3)
    
    Project units represent the maximum number of units entitled or currently expected
at full build-out. The actual number of units or square feet to be constructed at full
build-out may be lower than the number entitled or currently expected.(4)
    
    Represents the remaining square feet with land-use entitlements as designated in a
development order or expected given the existing property land use or zoning and present
plans.  The actual number of square feet to be constructed at full build-out may be lower than
the number entitled. Commercial entitlements include retail, office and industrial uses. 
Industrial uses total 6,128,381 square feet including SouthWood, RiverTown and the West Bay
DSAP 1.(5)
    
    A project is in development when JOE has commenced horizontal construction on the
project and commenced sales and/or marketing or will commence sales and/or marketing in the
foreseeable future. A project in pre-development has land-use entitlements but is still
under internal evaluation or requires one or more additional permits prior to the commencement
of construction. For certain projects in pre-development, some horizontal construction may
have occurred, but no sales or marketing activities are expected in the foreseeable future.(6)
    
    Artisan Park is 74 percent owned by JOE.(7)
    
    Homesites acquired by JOE within the Wild Heron community.(8)
    
    Timber Island entitlements include seven residential units and 400 units for hotel
or other transient uses (including units held
with fractional ownership such as private residence clubs).(9)
    
    West Bay Landing is a sub-project within WestBay
DSAP 1. Table 2
Proposed JOE Residential and Mixed-Use Projects
In the Land-Use Entitlement Process (1)  June 30, 2009
 EstimatedCommercialEstimated
    
    EntitlementsProject
    
    Class(2)
    
    County
    
    Project Acres
    
    Project Units(3)
    
    (Sq. Ft.)(4)Breakfast Point, Phase 2
    
    PR/RS
    
    Bay
    
    
    1,299
    
    
    
    2,780
    
    
    
    635,000SouthSide
    
    PR
    
    Leon
    
    
    1,625
    
    
    
    2,800
    
    
    
    1,150,000Total (5)
    
    
    
    
    
    
    2,924
    
    
    
    5,580
    
    
    
    1,785,000
 
 (1)
    
    A project is deemed to be in the land-use entitlement process when customary
steps necessary for the preparation and submittal of an application, such as conducting
pre-application meetings or similar discussions with governmental officials, have commenced
and/or an application has been filed. All projects listed have significant entitlement steps
remaining that could affect their timing, scale and viability. There can be no assurance that
these entitlements will ultimately be received.(2)
    
    Current JOE land classifications for its residential developments or the
residential portion of its mixed-use projects: 
    
    PR  Primary residential
    
    RS  Resort and seasonal residential
    
    RR  Rural residential
 
 (3)
    
    The actual number of units to be constructed at full build-out may be lower than
the number ultimately entitled.(4)
    
    Represents the estimated number of entitlements that are being sought. The
actual number of entitlements approved may be less. Once entitled, the actual number of
square feet to be constructed at full build-out may be lower than the actual number eventually
entitled. Commercial entitlements include retail, office and industrial uses.(5)
    
    St. James Island McIntyre and St. James Island RiverCamps have been removed due
to action by the Franklin County Board of County Commissioners. The County adopted an
ordinance which rescinded these land use amendments before they were deemed final.




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##### 



Table 3Summary of Additional Commercial Land-Use Entitlements (1)  (Commercial Projects Not Included in Tables 1 and 2 Above)
Active JOE Commercial ProjectsJune 30, 2009
 Acres Sold
    
    Acres UnderProject
    
    Since
    
    Contract
    
    Total AcresProject
    
    County
    
    Acres
    
    Inception
    
    As of 6/30/09
    
    RemainingAirport Commerce
    
    Leon
    
    
    45
    
    
    
    10
    
    
    
    
    
    
    
    35Alf Coleman Retail
    
    Bay
    
    
    25
    
    
    
    23
    
    
    
    
    
    
    
    2Beach Commerce
    
    Bay
    
    
    157
    
    
    
    151
    
    
    
    
    
    
    
    6Beach Commerce II
    
    Bay
    
    
    112
    
    
    
    13
    
    
    
    
    
    
    
    99Beckrich Office Park
    
    Bay
    
    
    17
    
    
    
    12
    
    
    
    3
    
    
    
    2Beckrich Retail
    
    Bay
    
    
    44
    
    
    
    41
    
    
    
    
    
    
    
    3Cedar Grove Commerce
    
    Bay
    
    
    51
    
    
    
    5
    
    
    
    
    
    
    
    46Franklin Industrial
    
    Franklin
    
    
    7
    
    
    
    
    
    
    
    
    
    
    
    7Glades Retail
    
    Bay
    
    
    14
    
    
    
    
    
    
    
    
    
    
    
    14Gulf Boulevard
    
    Bay
    
    
    78
    
    
    
    27
    
    
    
    
    
    
    
    51Hammock Creek Commerce
    
    Gadsden
    
    
    165
    
    
    
    27
    
    
    
    
    
    
    
    138Mill Creek Commerce
    
    Bay
    
    
    37
    
    
    
    
    
    
    
    
    
    
    
    37Nautilus Court
    
    Bay
    
    
    11
    
    
    
    7
    
    
    
    
    
    
    
    4Port St. Joe Commerce II
    
    Gulf
    
    
    39
    
    
    
    9
    
    
    
    
    
    
    
    30Port St. Joe Commerce III
    
    Gulf
    
    
    50
    
    
    
    
    
    
    
    
    
    
    
    50Powell Hills Retail
    
    Bay
    
    
    44
    
    
    
    
    
    
    
    
    
    
    
    44South Walton Commerce
    
    Walton
    
    
    38
    
    
    
    17
    
    
    
    
    
    
    
    21Total
    
    
    
    
    
    
    934
    
    
    
    342
    
    
    
    3
    
    
    
    589
 
 (1)
    
    A project is deemed land-use entitled when all major discretionary governmental
land-use approvals have been received. Some of these projects may require additional permits
for development and/or build-out; they also may be subject to legal challenge. Includes
significant JOE projects that are either operating, under development or in the
pre-development stage. Table 4
Residential Real Estate
Sales Activity
Three Months Ended June 30,
($ in millions)
 2009
    
    
    2008Number
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Numberof Units
    
    
    
    
    
    
    Cost of
    
    
    Gross
    
    
    of Units
    
    
    
    
    
    
    Cost of
    
    
    GrossClosed
    
    
    Revenue
    
    
    Sales(1)
    
    
    Profit
    
    
    Closed
    
    
    Revenue
    
    
    Sales(1)
    
    
    ProfitHome Sites (2)
    
    
    13
    
    
    $
    1.8
    
    
    $
    1.3
    
    
    $
    0.5
    
    
    
    6
    
    
    $
    1.5
    
    
    $
    0.8
    
    
    $
    0.7Homes (3)
    
    
    28
    
    
    
    9.9
    
    
    
    9.3
    
    
    
    0.6
    
    
    
    12
    
    
    
    5.7
    
    
    
    5.4
    
    
    
    0.3Total
    
    
    41
    
    
    $
    11.7
    
    
    $
    10.6
    
    
    $
    1.1
    
    
    
    18
    
    
    $
    7.2
    
    
    $
    6.2
    
    
    $
    1.0
 
 (1)
    
    Cost of sales for homesites in the second quarter of 2009 consisted of $1.1
million in direct costs, $0.1 million in selling costs and $0.1 million in indirect costs.
Cost of sales for homesites in the second quarter of 2008 consisted of $0.7 million in direct
costs, less than $0.1 million in selling costs and $0.1 million in indirect costs. Cost of
sales for homes in the second quarter of 2009 consisted of $7.0 million in direct costs, $0.6
million in selling costs and $1.7 million in indirect costs. Cost of sales for homes in the
second quarter of 2008 consisted of $3.9 million in direct costs, $0.3 million in selling
costs and $1.2 million in indirect costs.(2)
    
    Profit has been deferred as a result of continuing development obligations at
SummerCamp Beach in 2009 and 2008 and WaterSound West Beach in 2008. As a consequence,
revenue recognition and closings may occur in different periods.(3)
    
    Homes include single-family and multifamily units. Multifamily revenue is
recognized, if preconditions are met, on a percentage-of-completion basis. As a consequence,
revenue recognition and closings may occur in different periods.




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##### 



Table 5Residential Real Estate Sales ActivityThree Months Ended June 30,($ in thousands)
 2009
    
    
    2008Units
    
    
    Avg.
    
    
    
    
    
    Avg.
    
    
    Units
    
    
    Avg.
    
    
    
    
    
    Avg.Closed
    
    
    Price
    
    
    Accepted(1)
    
    
    Price
    
    
    Closed
    
    
    Price
    
    
    Accepted(1)
    
    
    PriceArtisan Park(2)Single-Family Homes
    
    
    7
    
    
    $
    355.5
    
    
    
    7
    
    
    $
    355.5
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Multifamily Homes
    
    
    4
    
    
    
    246.1
    
    
    
    4
    
    
    
    246.1
    
    
    
    4
    
    
    
    359.6
    
    
    
    5
    
    
    
    371.7Hawks LandingHomesites
    
    
    3
    
    
    
    65.6
    
    
    
    3
    
    
    
    65.6
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    James IslandSingle-Family Homes
    
    
    1
    
    
    $
    311.0
    
    
    
    1
    
    
    $
    311.0
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    RiverCamps on Crooked CreekHomesites
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1
    
    
    
    300.0
    
    
    
    1
    
    
    
    300.0Single-Family Homes
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1
    
    
    
    550.0
    
    
    
    1
    
    
    
    550.0St. Johns G & CCSingle-Family Homes
    
    
    1
    
    
    
    327.9
    
    
    
    1
    
    
    
    327.9
    
    
    
    2
    
    
    
    457.5
    
    
    
    2
    
    
    
    457.5SummerCampHomesites
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1
    
    
    
    149.9
    
    
    
    1
    
    
    
    149.9Victoria ParkHomesites
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1
    
    
    
    82.9
    
    
    
    1
    
    
    
    82.9Single-Family Homes
    
    
    4
    
    
    
    202.0
    
    
    
    4
    
    
    
    202.0
    
    
    
    2
    
    
    
    211.3
    
    
    
    2
    
    
    
    211.3WaterColorHomesites
    
    
    5
    
    
    
    178.6
    
    
    
    5
    
    
    
    178.6
    
    
    
    1
    
    
    
    507.0
    
    
    
    1
    
    
    
    507.0Single-Family Homes
    
    
    11
    
    
    
    456.8
    
    
    
    10
    
    
    
    460.0
    
    
    
    2
    
    
    
    1,212.5
    
    
    
    2
    
    
    
    1,212.5WaterSoundHomesites
    
    
    1
    
    
    
    77.8
    
    
    
    1
    
    
    
    77.8
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    WaterSound BeachHomesites
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    3
    
    
    
    485.0WaterSound West BeachHomesites
    
    
    2
    
    
    
    188.1
    
    
    
    2
    
    
    
    188.1
    
    
    
    2
    
    
    
    187.6
    
    
    
    3
    
    
    
    191.1WindMark BeachHomesites
    
    
    2
    
    
    
    107.7
    
    
    
    2
    
    
    
    107.7
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Single-Family Homes
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1
    
    
    
    1,200.0
    
    
    
    1
    
    
    $
    1,200.0Total Homesites
    
    
    13
    
    
    $
    135.3
    (3)
    
    
    13
    
    
    $
    135.3
    (3)
    
    
    6
    
    
    $
    235.8
    (3)
    
    
    10
    
    
    $
    306.8
    (3)Total Single/Multifamily Homes
    
    
    28
    
    
    $
    355.2
    (3)
    
    
    27
    
    
    $
    352.6
    (3)
    
    
    12
    
    
    $
    579.2
    (3)
    
    
    13
    
    
    $
    567.0
    (3)
 
 (1)
    
    Contracts accepted during the quarter. Contracts accepted and closed in the same
quarter are also included as units closed.(2)
    
    JOE owns 74 percent of Artisan Park.(3)
    
    Average prices differ from quarter to quarter primarily because of the relative mix
and location of sales.




---



##### 



Table 6Commercial Land Sales
 Three Months Ended June 30,
 Number of Sales
    
    Acres Sold
    
    Gross Sales Price
    
    Average Price/Acre(in thousands)
    
    (in thousands)2009
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    2008
    
    
    1
    
    
    
    2.2
    
    
    $
    257
    
    
    $
    117
 Table 7
Rural Land Sales
 Three Months Ended June 30,
 Number of Sales
    
    Acres Sold
    
    Gross Sales Price
    
    Average Price/Acre(in thousands)2009
    
    
    4
    
    
    
    5,317
    
    
    $
    8,450
    
    
    $
    1,5892008
    
    
    4
    
    
    
    29,398
    
    
    
    39,010
    
    
    
    1,327
 Table 8
Quarterly Segment Pretax Income (Loss)
From Continuing Operations
($ in millions)
 June 30,
    
    
    Mar. 31,
    
    
    Dec. 31,
    
    
    Sept. 30,
    
    
    June 30,
    
    
    Mar. 31,
    
    
    Dec. 31,
    
    
    Sept. 30,
    
    
    June 30,2009
    
    
    2009
    
    
    2008
    
    
    2008
    
    
    2008
    
    
    2008
    
    
    2007
    
    
    2007
    
    
    2007Residential
    
    $
    (23.3
    )
    
    $
    (14.2
    )
    
    $
    (71.0
    )
    
    $
    (13.0
    )
    
    $
    (13.3
    )
    
    $
    (18.7
    )
    
    $
    (11.4
    )
    
    $
    (26.2
    )
    
    $
    (1.0
    )Commercial
    
    
    (0.7
    )
    
    
    (0.6
    )
    
    
    (0.3
    )
    
    
    (0.6
    )
    
    
    (0.5
    )
    
    
    (0.8
    )
    
    
    4.6
    
    
    
    2.3
    
    
    
    8.5Rural Land sales
    
    
    6.8
    
    
    
    2.8
    
    
    
    26.3
    
    
    
    2.0
    
    
    
    24.1
    
    
    
    80.1
    
    
    
    24.5
    
    
    
    27.8
    
    
    
    7.2Forestry
    
    
    1.1
    
    
    
    1.1
    
    
    
    0.8
    
    
    
    0.2
    
    
    
    (1.1
    )
    
    
    1.9
    
    
    
    (1.9
    )
    
    
    1.3
    
    
    
    0.9Corporate and other
    
    
    (57.5
    )
    
    
    (7.8
    )
    
    
    (4.5
    )
    
    
    (19.2
    )
    
    
    (41.6
    )
    
    
    (13.0
    )
    
    
    (11.0
    )
    
    
    (15.8
    )
    
    
    (16.4
    )Pretax income (loss) from
continuing operations (1)
    
    $
    (73.6
    )
    
    $
    (18.7
    )
    
    $
    (48.7
    )
    
    $
    (30.6
    )
    
    $
    (32.4
    )
    
    $
    49.5
    
    
    $
    4.8
    
    
    $
    (10.6
    )
    
    $
    (0.8
    )
 
 (1)
    
    Includes one time charges as described in our SEC filings. Table 9
Other Income (Expense)
($ in millions)
 Quarter Ended June 30,
    
    
    Six Months Ended June 30,2009
    
    
    2008
    
    
    2009
    
    
    2008Dividend and interest income
    
    $
    0.6
    
    
    $
    1.5
    
    
    $
    1.4
    
    
    $
    3.3Interest expense
    
    
    (0.1
    )
    
    
    (0.1
    )
    
    
    (0.3
    )
    
    
    (3.6
    )Gain on sale of office buildings
    
    
    0.2
    
    
    
    0.2
    
    
    
    0.4
    
    
    
    0.4Other
    
    
    0.1
    
    
    
    0.5
    
    
    
    0.4
    
    
    
    1.1Retained
interest in monetized installment notes
    
    
    0.1
    
    
    
    (1.9
    )
    
    
    0.2
    
    
    
    (1.9
    )Loss on early extinguishment of debt
    
    
    
    
    
    
    (29.9
    )
    
    
    
    
    
    
    (30.6
    )Total
    
    
    0.9
    
    
    $
    (29.7
    )
    
    
    2.1
    
    
    $
    (31.3
    )