Forestar (FOR) 10-Q 10 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 06, 2016
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	FOR
Entity Registrant Name	FORESTAR GROUP INC.
Entity Central Index Key	1,406,587
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		33,908,002

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 142,646	$ 96,442
Real estate, net	471,353	586,715
Oil and gas properties and equipment, net	42,380	80,613
Assets held for sale	106,548	0
Investment in unconsolidated ventures	79,013	82,453
Timber	7,694	7,683
Receivables, net	9,677	23,656
Income taxes receivable	14,359	12,056
Prepaid expenses	3,570	3,213
Property and equipment, net	10,195	10,732
Goodwill and other intangible assets	55,861	63,128
Other assets	4,756	5,555
TOTAL ASSETS	948,052	972,246
LIABILITIES AND EQUITY
Accounts payable	8,576	11,959
Accrued employee compensation and benefits	1,705	5,547
Accrued property taxes	2,507	4,788
Accrued interest	6,774	3,267
Deferred tax liability, net	1,037	1,037
Earnest money deposits	11,009	10,214
Other accrued expenses	17,718	23,481
Liabilities held for sale	751	0
Other liabilities	24,748	26,323
Debt	372,759	381,515
TOTAL LIABILITIES	$ 447,584	$ 468,131
COMMITMENTS AND CONTINGENCIES
Forestar Group Inc. shareholders’ equity:
Common stock, par value $1.00 per share, 200,000,000 authorized shares, 36,946,603 issued at first quarter-end 2016 and year-end 2015	$ 36,947	$ 36,947
Additional paid-in capital	559,859	561,850
Retained earnings (Accumulated deficit)	(50,422)	(46,046)
Treasury stock, at cost, 3,038,601 shares at first quarter-end 2016 and 3,203,768 shares at year-end 2015	(48,340)	(51,151)
Total Forestar Group Inc. shareholders’ equity	498,044	501,600
Noncontrolling interests	2,424	2,515
TOTAL EQUITY	500,468	504,115
TOTAL LIABILITIES AND EQUITY	$ 948,052	$ 972,246

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	36,946,603	36,946,603
Treasury stock, common shares	3,037,601	3,203,768

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
REVENUES
Real estate sales and other	$ 26,408	$ 21,961
Commercial and income producing properties	9,690	10,869
Real estate	36,098	32,830
Oil and gas	5,352	13,185
Other natural resources	438	1,790
Total revenues	41,888	47,805
COSTS AND EXPENSES
Cost of real estate sales and other	(13,262)	(10,362)
Cost of commercial and income producing properties	(5,162)	(7,692)
Cost of oil and gas producing activities	(5,194)	(11,542)
Cost of other natural resources	(385)	(920)
Other operating	(13,414)	(18,060)
General and administrative	(6,479)	(8,142)
Total expenses	(43,896)	(56,718)
GAIN ON SALE OF ASSETS	2,604	1,176
OPERATING INCOME (LOSS)	596	(7,737)
Equity in earnings of unconsolidated ventures	47	3,045
Interest expense	(7,639)	(8,821)
Other non-operating income	74	917
INCOME (LOSS) BEFORE TAXES	(6,922)	(12,596)
Income tax benefit	2,626	4,359
CONSOLIDATED NET INCOME (LOSS)	(4,296)	(8,237)
Less: Net (income) loss attributable to noncontrolling interests	(80)	79
NET INCOME (LOSS) ATTRIBUTABLE TO FORESTAR GROUP INC.	$ (4,376)	$ (8,158)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)	34,302	34,168
Diluted (in shares)	34,302	34,168
NET INCOME (LOSS) PER COMMON SHARE
Basic (usd per share)	$ (0.13)	$ (0.24)
Diluted (usd per share)	$ (0.13)	$ (0.24)
TOTAL COMPREHENSIVE INCOME (LOSS)	$ (4,376)	$ (8,158)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net income (loss)	$ (4,296)	$ (8,237)
Adjustments:
Depreciation, depletion and amortization	4,785	11,325
Change in deferred income taxes	0	(4,359)
Equity in earnings of unconsolidated ventures	(47)	(3,045)
Distributions of earnings of unconsolidated ventures	1,304	2,845
Share-based compensation	1,380	3,342
Real estate cost of sales	12,841	9,884
Dry hole and unproved leasehold impairment charges	0	86
Real estate development and acquisition expenditures, net	(14,794)	(34,769)
Reimbursements from utility and improvement districts	306	4,130
Gain on sale of assets	(2,604)	(1,176)
Other	1,820	1,730
Changes in:
Notes and accounts receivable	13,979	7,016
Prepaid expenses and other	(660)	2,695
Accounts payable and other accrued liabilities	(6,702)	(15,644)
Income taxes	(2,303)	5,411
Net cash provided by (used for) operating activities	5,009	(18,766)
CASH FLOWS FROM INVESTING ACTIVITIES:
Property, equipment, software, reforestation and other	(3,501)	(2,809)
Oil and gas properties and equipment	(426)	(23,718)
Investment in unconsolidated ventures	(3,019)	(831)
Proceeds from sales of assets	56,828	2,000
Return of investment in unconsolidated ventures	1,567	655
Net cash provided by (used for) investing activities	51,449	(24,703)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments of debt	(11,185)	(2,463)
Additions to debt	1,307	3,119
Deferred financing fees	0	(6)
Distributions to noncontrolling interests, net	(171)	(338)
Exercise of stock options	0	14
Payroll taxes on issuance of stock-based awards	(205)	(723)
Excess income tax benefit from share-based compensation	0	1
Net cash provided by (used for) financing activities	(10,254)	(396)
Net increase (decrease) in cash and cash equivalents	46,204	(43,865)
Cash and cash equivalents at beginning of period	96,442	170,127
Cash and cash equivalents at end of period	$ 142,646	$ 126,262

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our consolidated financial statements include the accounts of Forestar Group Inc., all subsidiaries, ventures and other entities in which we have a controlling interest. We account for our investment in other entities in which we have significant influence over operations and financial policies using the equity method. We eliminate all material intercompany accounts and transactions. Noncontrolling interests in consolidated pass-through entities are recognized before income taxes. We prepare our unaudited interim financial statements in accordance with U.S. generally accepted accounting principles and Securities and Exchange Commission requirements for interim financial statements. As a result, they do not include all the information and disclosures required for complete financial statements. However, in our opinion, all adjustments considered necessary for a fair presentation have been included. Such adjustments consist only of normal recurring items unless otherwise noted. We make estimates and assumptions about future events. Actual results can, and probably will, differ from those we currently estimate including those principally related to allocating costs to real estate, measuring long-lived assets for impairment, oil and gas revenue accruals, capital expenditure and lease operating expense accruals associated with our oil and gas production activities, oil and gas reserves and depletion of our oil and gas properties. These interim operating results are not necessarily indicative of the results that may be expected for the entire year. For further information, please read the financial statements included in our 2015 Annual Report on Form 10-K.

New and Pending Accounting Pron

New and Pending Accounting Pronouncements	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
New and Pending Accounting Pronouncements	New and Pending Accounting Pronouncements Adoption of New Accounting Standards In April 2015, the FASB issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, as part of its initiative to reduce complexity in accounting standards. To simplify presentation of debt issuance costs, the amendments in this update require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. In August 2015, the FASB issued ASU 2015-15, Interest-Imputation of Interest (Subtopic 835-30), Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements - Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting (SEC Update), which allows an entity to defer and present debt issuance costs as an asset and subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The updated standards are effective for financial statements issued for annual and interim periods beginning after December 15, 2015. We adopted ASU 2015-03 in first quarter 2016 and prior period amounts have been reclassified to conform to the current period presentation. As of December 31, 2015, $8,267,000 of debt issuance costs were reclassified in the consolidated balance sheet from other assets to debt. The adoption did not impact our consolidated financial position, results of operations or cash flows. As permitted under this guidance, we will continue to present debt issuance costs associated with revolving-debt agreements as other assets. In February 2015, the FASB issued ASU 2015-02, Consolidation: Amendments to the Consolidation Analysis (Topic 810) , requiring entities to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. The revised consolidation model: (1) modifies the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities, (2) eliminates the presumption that a general partner should consolidate a limited partnership, (3) affects the consolidation analysis of reporting entities that are involved with VIEs, and (4) provides a scope exception from consolidation guidance for reporting entities with interests in certain legal entities. The updated standard is effective for financial statements issued for annual and interim periods beginning after December 15, 2015. The adoption of this guidance, which was applied retrospectively, had no impact to the consolidated financial statements. Pending Accounting Standards In May 2014, the FASB issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) , requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The updated standard will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. Early adoption is not permitted. The updated standard becomes effective for annual and interim periods beginning after December 15, 2016. In July 2015, the FASB decided to defer the effective date of the new standard by one year, to December 15, 2017. We have not yet selected a transition method and we are currently evaluating the effect that the updated standard will have on our earnings, financial position and disclosures. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , in order to provide increased transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The updated standard is effective for financial statements issued for annual periods beginning after December 15, 2019 and interim periods within fiscal years beginning after December 31, 2020 with early adoption permitted. We are currently evaluating the effect that the updated standard will have on our earnings, financial position and disclosures. In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , as part of its Simplification Initiative. The areas for simplification in this Update involve several aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, and the classification on the statement of cash flows. The updated standard becomes effective for annual and interim periods beginning after December 31, 2016. We are currently evaluating the effect that the updated standard will have on our earnings, financial position and disclosures.

Real Estate

Real Estate	3 Months Ended
	Mar. 31, 2016
Real Estate [Abstract]
Real Estate	Real Estate Real estate consists of: First Quarter-End 2016 Year-End 2015 Carrying Value Accumulated Depreciation Net Carrying Value Carrying Value Accumulated Depreciation Net Carrying Value (In thousands) Entitled, developed and under development projects $ 352,369 $ — $ 352,369 $ 352,141 $ — $ 352,141 Undeveloped land (includes land in entitlement) 96,875 — 96,875 98,181 — 98,181 Commercial Radisson Hotel & Suites (a) — — — 62,889 (29,268 ) 33,621 Income producing properties Eleven (a) — — — 53,896 (2,861 ) 51,035 Dillon (a) — — — 19,987 — 19,987 Music Row (b) — — — 9,947 — 9,947 Downtown Edge 12,991 — 12,991 12,706 — 12,706 West Austin 9,118 — 9,118 9,097 — 9,097 $ 471,353 $ — $ 471,353 $ 618,844 $ (32,129 ) $ 586,715 ___________________ (a) Classified as assets held for sale at first quarter-end 2016. Please see Note 5—Held for Sale and Note 19—Subsequent Events. (b) Sold in first quarter 2016. In first quarter 2016, we sold Music Row, a planned 230 -unit multifamily property that was under construction in Nashville, for $14,703,000 and recognized a gain of $3,968,000 . In addition, in first quarter 2016, we classified $105,987,000 in non-core real estate assets, principally the Radisson Hotel & Suites and Eleven and Dillon multifamily properties, as held for sale as result of our plan to market and sell these assets. Our estimated costs of assets for which we expect to be reimbursed by utility and improvement districts were $69,770,000 at first quarter-end 2016 and $67,554,000 at year-end 2015 , including $22,357,000 at first quarter-end 2016 and $22,302,000 at year-end 2015 related to our Cibolo Canyons project near San Antonio, Texas. In first quarter 2016 , we have collected $306,000 in reimbursements that were previously submitted to these districts. At first quarter-end 2016 , our inception-to-date submitted and approved reimbursements for the Cibolo Canyons project were $54,376,000 of which we have collected $34,703,000 . These costs are principally for water, sewer and other infrastructure assets that we have incurred and submitted or will submit to utility or improvement districts for approval and reimbursement. We expect to be reimbursed by utility and improvement districts when these districts achieve adequate tax basis or otherwise have funds available to support payment.

Oil and Gas Properties

Oil and Gas Properties	3 Months Ended
	Mar. 31, 2016
Extractive Industries [Abstract]
Oil and Gas Properties	Oil and Gas Properties and Equipment, net Net capitalized costs, utilizing the successful efforts method of accounting, related to our oil and gas producing activities follows: First Year-End 2016 2015 (In thousands) Unproved leasehold interests $ 11,453 $ 19,441 Proved oil and gas properties 75,673 119,414 Total costs 87,126 138,855 Less: accumulated depreciation, depletion and amortization (44,746 ) (58,242 ) $ 42,380 $ 80,613 In first quarter 2016 , we recorded a net loss of $10,977,000 on the sale of 190,960 net mineral acres leased from others and 185 gross ( 66 net) producing oil and gas wells in Nebraska, Kansas, Oklahoma and North Dakota for total sales proceeds of $32,227,000 , which includes $3,269,000 in reimbursement of capital costs incurred on in-progress wells that were assumed by the buyer. A significant portion of the net loss on sale, $7,244,000 , is related to write-off of allocated goodwill to sold producing oil and gas properties.

Held for Sale

Held for Sale	3 Months Ended
	Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Held for Sale	Held for Sale At first quarter-end 2016, Radisson Hotel & Suites in Austin, Eleven, a 257 -unit multifamily property in Austin, Dillon, a planned 379 -unit multifamily property in Charlotte and certain oil and gas properties were classified as held for sale. The major classes of assets and liabilities of the properties held for sale at first quarter-end 2016 are as follows: First 2016 Assets Held for Sale: (In thousands) Real estate, net of accumulated depreciation of $32,945 $ 105,987 Oil and gas properties and equipment, net of accumulated depletion of $1,162 401 Prepaid expenses 150 Goodwill and other intangible assets 10 $ 106,548 Liabilities Held for Sale: Other accrued expenses $ 74 Other liabilities 677 $ 751

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Carrying value of goodwill and other intangible assets follows: First Year-End 2016 2015 (In thousands) Goodwill $ 53,920 $ 61,164 Identified intangibles, net 1,941 1,964 $ 55,861 $ 63,128 Goodwill related to our oil and gas properties is $50,046,000 and $57,290,000 at first quarter-end 2016 and year-end 2015 . Goodwill associated with our water resources initiatives is $3,874,000 at first quarter-end 2016 and year-end 2015 . The change in goodwill for oil and gas properties is related to goodwill allocated to properties sold or held for sale at first quarter-end 2016. Identified intangibles include $1,681,000 in indefinite lived groundwater leases associated with our water resources initiatives and $260,000 related to patents with definite lives associated with the Calliope Gas Recovery System, a process to increase natural gas production.

Equity

Equity	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Equity	Equity A reconciliation of changes in equity at first quarter-end 2016 follows: Forestar Group Inc. Noncontrolling Interests Total (In thousands) Balance at year-end 2015 $ 501,600 $ 2,515 $ 504,115 Net income (loss) (4,376 ) 80 (4,296 ) Distributions to noncontrolling interests — (171 ) (171 ) Other (primarily share-based compensation) 820 — 820 $ 498,044 $ 2,424 $ 500,468

Investment in Unconsolidated Ve

Investment in Unconsolidated Ventures	3 Months Ended
	Mar. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Investment in Unconsolidated Ventures	Investment in Unconsolidated Ventures At first quarter-end 2016 , we have ownership interests in 18 ventures that we account for using the equity method. In first quarter 2016, we sold our interest in FMF Peakview LLC (360 0 ), a 304 -unit multifamily joint venture in Denver, and recognized a gain of $9,613,000 which is included in gain on sale of assets. Combined summarized balance sheet information for our ventures accounted for using the equity method follows: Venture Assets Venture Borrowings (a) Venture Equity Our Investment First Year-End First Year-End First Year-End First Year-End 2016 2015 2016 2015 2016 2015 2016 2015 (In thousands) 242, LLC (b) $ 26,534 $ 26,687 $ 180 $ — $ 24,577 $ 24,877 $ 11,617 $ 11,766 CL Ashton Woods, LP (c) 4,641 7,654 — — 3,451 6,084 1,653 3,615 CL Realty, LLC 7,761 7,872 — — 7,709 7,662 3,854 3,831 CREA FMF Nashville LLC (b) 56,348 57,820 36,832 50,845 17,940 4,291 3,649 3,820 Elan 99, LLC 44,363 34,192 23,352 14,587 15,429 15,838 13,886 14,255 FOR/SR Forsyth LLC 6,950 6,500 — — 6,950 6,500 6,255 5,850 FMF Littleton LLC 59,433 52,376 26,706 22,347 24,200 24,370 6,228 6,270 FMF Peakview LLC — 48,869 — 30,485 — 16,828 — 3,447 HM Stonewall Estates, Ltd (c) 1,798 2,842 — — 1,798 2,842 1,034 1,294 LM Land Holdings, LP (c) 25,479 31,984 4,270 7,728 20,619 22,751 9,808 9,664 MRECV DT Holdings LLC 4,215 4,215 — — 4,215 4,215 3,793 3,807 MRECV Edelweiss LLC 2,404 2,237 — — 2,404 2,237 2,170 2,029 MRECV Juniper Ridge LLC 4,022 3,006 — — 4,021 3,006 3,645 2,730 MRECV Meadow Crossing II LLC 2,187 728 — — 2,187 728 1,982 655 Miramonte Boulder Pass, LLC 13,160 12,627 6,320 5,869 5,349 5,474 5,287 5,349 Temco Associates, LLC 5,295 5,284 — — 5,181 5,113 2,590 2,557 Other ventures (d) 4,167 4,174 2,202 2,242 1,958 1,922 1,562 1,514 $ 268,757 $ 309,067 $ 99,862 $ 134,103 $ 147,988 $ 154,738 $ 79,013 $ 82,453 Combined summarized income statement information for our ventures accounted for using the equity method follows: Venture Revenues Venture Earnings (Loss) Our Share of Earnings (Loss) First Quarter First Quarter First Quarter 2016 2015 2016 2015 2016 2015 (In thousands) 242, LLC (b) $ — $ 5,331 $ (300 ) $ 3,464 $ (150 ) $ 1,766 CL Ashton Woods, LP (c) 696 1,350 367 527 439 678 CL Realty, LLC 133 279 47 160 23 80 CREA FMF Nashville LLC (b) 901 6 (571 ) (113 ) (171 ) (113 ) Elan 99, LLC 20 — (410 ) (2 ) (369 ) (2 ) FMF Littleton LLC 321 — (170 ) — (42 ) — FMF Peakview LLC 939 186 (248 ) (482 ) (50 ) (96 ) FOR/SR Forsyth LLC — — — — — — HM Stonewall Estates, Ltd (c) 4,063 1,058 220 515 103 230 LM Land Holdings, LP (c) 1,000 1,976 640 1,250 144 364 MRECV DT Holdings LLC 98 — 98 — 88 — MRECV Edelweiss LLC 87 — 87 — 78 — MRECV Juniper Ridge LLC 3 — 3 — 3 — MRECV Meadow Crossing II LLC — — 34 — (31 ) — Miramonte Boulder Pass, LLC — — (125 ) — (62 ) — PSW Communities, LP — 2,427 — 195 — 173 Temco Associates, LLC 99 58 67 (1 ) 34 — Other ventures (d) — 3,701 26 (203 ) 10 (35 ) $ 8,360 $ 16,372 $ (235 ) $ 5,310 $ 47 $ 3,045 _____________________ (a) Total includes current maturities of $8,524,000 at first quarter-end 2016 , of which $6,320,000 is non-recourse to us, and $39,590,000 at year-end 2015 , of which $6,798,000 is non-recourse to us. (b) Includes unamortized deferred gains on real estate contributed by us to ventures. We recognize deferred gains as income as real estate is sold to third parties. Deferred gains of $1,496,000 are reflected as a reduction to our investment in unconsolidated ventures at first quarter-end 2016 . (c) Includes unrecognized basis difference of $30,000 which is reflected as a reduction of our investment in unconsolidated ventures at first quarter-end 2016 . The difference will be accreted as income or expense over the life of the investment and included in our share of earnings (loss) from the respective ventures. (d) Our investment in other ventures reflects our ownership interests, excluding venture losses that exceed our investment where we are not obligated to fund those losses. Please read Note 17—Variable Interest Entities for additional information. In first quarter 2016 , we invested $3,019,000 in these ventures and received $2,871,000 in distributions. In first quarter 2015 , we invested $831,000 in these ventures and received $3,500,000 in distributions. Distributions include both return of investments and distribution of earnings.

Receivables

Receivables	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Receivables	Receivables Receivables consist of: First Year-End 2016 2015 (In thousands) Funds held by qualified intermediary for potential 1031 like-kind exchange $ — $ 14,703 Oil and gas revenue accruals 2,374 3,745 Other receivables and accrued interest 5,244 2,448 Oil and gas joint interest billing receivables 777 867 Other loans secured by real estate, average interest rates of 12.52% at first quarter-end 2016 and 11.31% at year-end 2015 1,485 2,130 9,880 23,893 Allowance for bad debts (203 ) (237 ) $ 9,677 $ 23,656 In first quarter 2016, we received funds previously held by a qualified intermediary because we did not complete an intended like-kind exchange related to a 2015 sale of 6,915 acres of undeveloped land. Other loans secured by real estate generally are secured by a deed of trust and due within three years.

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt	Debt Debt (a) consists of: First Year-End 2016 2015 (In thousands) 8.50% senior secured notes due 2022 $ 216,495 $ 224,647 3.75% convertible senior notes due 2020, net of discount 105,798 104,719 6.00% tangible equity unit notes, net of discount 6,552 8,666 Secured promissory notes — average interest rates of 3.43% at first quarter-end 2016 and 3.42% at year-end 2015 15,400 15,400 Other indebtedness — interest rates ranging from 2.44% to 5.50% 28,514 28,083 $ 372,759 $ 381,515 ___________________ (a) At first quarter-end 2016 and year-end 2015, $7,953,000 and $8,267,000 of unamortized deferred financing fees are deducted from our outstanding debt . Our debt agreements contain financial covenants customary for such agreements including minimum levels of interest coverage and limitations on leverage. On December 30, 2015, we amended our senior secured credit facility to reduce the interest coverage ratio from 2.50 :1.0 to 2.25 :1.0 for the quarter ending December 31, 2015 and March 31, 2016. Thereafter, the interest coverage ratio returns to 2.50 :1.0. At first quarter-end 2016, we were in compliance with the financial covenants of these agreements. At first quarter-end 2016 , our senior secured credit facility provides for a $300,000,000 revolving line of credit maturing May 15, 2017 (with two one-year extension options). The revolving line of credit may be prepaid at any time without penalty. The revolving line of credit includes a $100,000,000 sublimit for letters of credit, of which $15,817,000 is outstanding at first quarter-end 2016 . Total borrowings under our senior secured credit facility (including the face amount of letters of credit) may not exceed a borrowing base formula. At first quarter-end 2016 , we had $265,199,000 in net unused borrowing capacity under our senior secured credit facility. Under the terms of our senior secured credit facility, at our option we can borrow at LIBOR plus 4.0 percent or at the alternate base rate plus 3.0 percent . The alternate base rate is the highest of (i) KeyBank National Association’s base rate, (ii) the federal funds effective rate plus 0.5 percent or (iii) 30 day LIBOR plus 1 percent . Borrowings under the senior secured credit facility are or may be secured by (a) mortgages on the timberland, high value timberland and portions of raw entitled land, as well as pledges of other rights including certain oil and gas operating properties, (b) assignments of current and future leases, rents and contracts, (c) a security interest in our primary operating account, (d) a pledge of the equity interests in current and future material operating subsidiaries and most of our majority-owned joint venture interests, or if such pledge is not permitted, a pledge of the right to distributions from such entities, and (e) a pledge of certain reimbursements payable to us from special improvement district tax collections in connection with our Cibolo Canyons project. The senior secured credit facility provides for releases of real estate and other collateral provided that borrowing base compliance is maintained. Our debt agreements contain financial covenants customary for such agreements including minimum levels of interest coverage and limitations on leverage. At first quarter-end 2016, our tangible net worth requirement was $379,044,000 plus 85 percent of the aggregate net proceeds received by us from any equity offering, plus 75 percent of all positive net income, on a cumulative basis. At first quarter-end 2016, there were no adjustments to the tangible net worth requirement for net proceeds from equity offerings or positive net income on a cumulative basis. The tangible net worth requirement is recalculated on a quarterly basis. We may elect to make distributions to stockholders so long as the total leverage ratio is less than 40 percent , the interest coverage ratio is greater than 3.0 :1.0 and available liquidity is not less than $125,000,000 . Effective December 30, 2015, the senior secured credit facility was amended to provide that we may make distributions in an aggregate amount not to exceed $50,000,000 to be funded from up to 65% of the net proceeds from sales of multifamily properties and non-core assets, such as the Radisson Hotel & Suites in Austin, and any oil and gas properties. The amendment provides us the flexibility to repurchase stock or pay a special dividend should our Board of Directors determine that we should do so, though no such decisions have been made at this time. In first quarter 2016, we purchased $8,600,000 principal amount of 8.50% Senior Secured Notes (Notes) at 99% of face value, resulting in a gain of $127,000 on the early extinguishment of the Notes, offset by the write-off of unamortized debt issuance costs of $225,000 allocated to the Notes. At first quarter-end 2016 , secured promissory notes represent a $15,400,000 loan collateralized by a 413 guest room hotel located in Austin with a carrying value of $33,415,000 classified as assets held for sale. Other indebtedness principally represents a $23,936,000 of senior secured loan for our 257 -unit multifamily project in Austin with a carrying value of $50,527,000 classified as assets held for sale at first quarter-end 2016. At first quarter-end 2016 and year-end 2015 , we have $7,953,000 and $8,267,000 in unamortized deferred financing fees which are deducted from our debt. In addition, at first quarter-end 2016 and year-end 2015, unamortized deferred financing fees related to our senior secured credit facility included in other assets was $2,264,000 and $2,768,000 . Amortization of deferred financing fees was $927,000 and $1,156,000 in first quarter 2016 and 2015 and is included in interest expense.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Fair value is the exchange price that would be the amount received for an asset or paid to transfer a liability in an orderly transaction between market participants. In arriving at a fair value measurement, we use a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable. The three levels of inputs used to establish fair value are the following: • Level 1 — Quoted prices in active markets for identical assets or liabilities; • Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Non-financial assets measured at fair value on a non-recurring basis principally include real estate assets, oil and gas properties, assets held for sale, goodwill and other intangible assets, which are measured for impairment. At first quarter-end 2016, Radisson Hotel & Suites in Austin, Eleven, a 257 -unit multifamily property in Austin, Dillon, a planned 379 -unit multifamily property in Charlotte, and certain oil and gas properties were classified as held for sale. We record impairment losses for assets held for sale if the fair value of the assets held for sale net of estimated selling costs is less than the carrying amount. In first quarter 2016, we did not record any impairment losses on our assets held for sale. Non-financial assets measured at fair value on a non-recurring basis are as follows: First Quarter-End 2016 Year-End 2015 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (In thousands) Non-Financial Assets and Liabilities: Real estate $ — $ — $ — $ — $ — $ — $ 641 $ 641 Proved oil and gas properties $ — $ — $ — $ — $ — $ — $ 39,000 $ 39,000 Unproved leasehold interests $ — $ — $ — $ — $ — $ — $ 18,219 $ 18,219 We elected not to use the fair value option for cash and cash equivalents, accounts receivable, other current assets, variable debt, accounts payable and other current liabilities. The carrying amounts of these financial instruments approximate their fair values due to their short-term nature or variable interest rates. We determine the fair value of fixed rate financial instruments using quoted prices for similar instruments in active markets. Information about our fixed rate financial instruments not measured at fair value follows: First Quarter-End 2016 Year-End 2015 Carrying Amount Fair Value Carrying Amount Fair Value Valuation Technique (In thousands) Fixed rate debt $ (336,298 ) $ (310,236 ) $ (346,090 ) $ (321,653 ) Level 2

Capital Stock

Capital Stock	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Capital Stock	Capital Stock Please read Note 18—Share-Based and Long-Term Incentive Compensation for information about additional shares of common stock that could be issued under terms of our share-based compensation plans. At first quarter-end 2016 , personnel of former affiliates held options to purchase 243,000 shares of our common stock. The options have a weighted average exercise price of $30.27 and a weighted average remaining contractual term of less than one year . At first quarter-end 2016 , the options have an aggregate intrinsic value of $0 .

Net Income per Share

Net Income per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Net Income per Share	Net Income (Loss) per Share Basic and diluted earnings per share is computed using the two-class method. The two-class method is an earnings allocation formula that determines net income per share for each class of common stock and participating security. We have determined that our 6.00% tangible equity units (Units) are participating securities. Per share amounts are computed by dividing earnings available to common shareholders by the weighted average shares outstanding during each period. In periods with a net loss, no such adjustment is made to earnings as the holders of the participating securities have no obligation to fund losses. Due to a net loss in first quarter 2016 and 2015, as the effect of potentially dilutive securities would be anti-dilutive, basic and diluted loss per share are the same. The computations of basic and diluted earnings per share are as follows: First Quarter 2016 2015 (In thousands) Numerator: Consolidated net income (loss) $ (4,296 ) $ (8,237 ) Less: Net (income) loss attributable to noncontrolling interest (80 ) 79 Earnings (loss) available for diluted earnings per share $ (4,376 ) $ (8,158 ) Less: Undistributed net income allocated to participating securities — — Earnings (loss) available to common shareholders for basic earnings per share $ (4,376 ) $ (8,158 ) Denominator: Weighted average common shares outstanding — basic 34,302 34,168 Weighted average common shares upon conversion of participating securities — — Dilutive effect of stock options, restricted stock and equity-settled awards — — Total weighted average shares outstanding — diluted 34,302 34,168 Anti-dilutive awards excluded from diluted weighted average shares 10,468 10,743 The actual number of shares we may issue upon settlement of the stock purchase contract will be between 6,547,800 shares (the minimum settlement rate) and 7,857,000 shares (the maximum settlement rate) based on the applicable market value, as defined in the purchase contract agreement associated with issuance of the Units. We intend to settle the principal amount of our convertible senior notes (Convertible Notes) in cash upon conversion with only the amount in excess of par value of the Convertible Notes to be settled in shares of our common stock. Therefore, our calculation of diluted net income per share using the treasury stock method includes only the amount, if any, in excess of par value of the Convertible Notes. As such, the Convertible Notes have no impact on diluted net income per share until the price of our common stock exceeds the $24.49 conversion price of the Convertible Notes. The average price of our common stock in first quarter 2016 did not exceed the conversion price which resulted in no additional diluted outstanding shares.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate was 38 percent in first quarter 2016, which includes a three percent benefit for a partial release of our valuation allowance and a five percent detriment for goodwill due to the sale of oil and gas assets. Our effective tax rate was 35 percent in first quarter 2015, which included a two percent benefit for noncontrolling interests and a two percent detriment for share-based compensation benefits that will not be realized. Our effective tax rates also include the effect of state income taxes, nondeductible items and benefits of percentage depletion. At first quarter-end 2016 and year-end 2015, we have a valuation allowance for our deferred tax assets of $95,389,000 and $97,068,000 for the portion of the deferred tax assets that we have determined is more likely than not to be unrealizable. In determining our valuation allowance, we assessed available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing deferred tax asset. A significant piece of objective evidence evaluated was the cumulative loss incurred over the three-year period ended March 31, 2016, principally driven by impairments of oil and gas properties in 2015. Such evidence limits our ability to consider other subjective evidence, such as our projected future taxable income. The amount of the deferred tax asset considered realizable could be adjusted if negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence, such as our projected future taxable income.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation We are involved in various legal proceedings that arise from time to time in the ordinary course of doing business and believe that adequate reserves have been established for any probable losses. We do not believe that the outcome of any of these proceedings should have a significant adverse effect on our financial position, long-term results of operations or cash flows. However, it is possible that charges related to these matters could be significant to our results or cash flows in any one accounting period. On October 4, 2014, James Huffman, a former director and CEO of CREDO Petroleum Corporation (Credo), which we acquired in 2012 and is now known as Forestar Petroleum Corporation, filed Huffman vs. Forestar Petroleum Corporation , Case Number 14CV33811, Civil Division, District Court for the City and County of Denver, Colorado. Prior to his retirement from Credo, Huffman participated in an employee compensation program under which he received overriding royalty interests (ORRI) in certain leases or wells in which Credo had an interest. Huffman claims entitlement to ORRI on nearly all North Dakota leases, none of which were assigned by Credo to Huffman prior to his retirement, and to ORRI on several Kansas and Nebraska leases. Huffman is seeking to have ORRI assigned to him. We believe Huffman’s claims are without merit and are vigorously defending the case. We are unable to estimate a possible loss or range of possible loss for this matter because of, among other factors, (i) significant unresolved questions of fact, including the time period covered by Huffman’s claims, (ii) discovery remaining to be conducted by both parties; (iii) impact of our counterclaims against Huffman, and (iv) any other factors that may have a material effect on the litigation. Environmental Environmental remediation liabilities arise from time to time in the ordinary course of doing business, and we believe we have established adequate reserves for any probable losses that we can reasonably estimate. We own 288 acres near Antioch, California, portions of which were sites of a former paper manufacturing operation that are in remediation. We have received certificates of completion on all but one 80 acre tract, a portion of which includes subsurface contamination. In first quarter 2016, we increased our reserves for environmental remediation by $86,000 due to additional testing and remediation requirements by state regulatory agencies. We estimate the remaining cost to complete remediation activities will be $678,000 , which is included in other accrued expenses. It is possible that remediation or monitoring activities could be required in addition to those included within our estimate, but we are unable to determine the scope, timing or extent of such activities. We have asset retirement obligations related to the abandonment and site restoration requirements that result from the acquisition, construction and development of oil and gas properties. We record the fair value of a liability for an asset retirement obligation in the period in which it is incurred and a corresponding increase in the carrying amount of the related long-lived asset. Accretion expense related to the asset retirement obligation and depletion expense related to capitalized asset retirement cost is included in cost of oil and gas producing activities. At first quarter-end 2016 and year-end 2015, our asset retirement obligation was $974,000 and $1,758,000 , of which $230,000 is included in liabilities held for sale at first quarter-end 2016 and the remaining balance in other liabilities. Non-Core Assets Restructuring Costs In connection with key initiatives to reduce costs across our entire organization and exit non-core assets, we incurred and paid severance costs related to workforce reductions of $1,422,000 in our real estate segment, $164,000 in our other natural resources segment and $486,000 in unallocated general and administrative expense. In addition, we offered retention bonuses to certain key personnel provided they remained our employees through completion of sale transactions. We are expensing retention bonus costs over the estimated retention period. These restructuring costs are included in other operating expense. The following table summarizes activity related to liabilities associated with our restructuring activities in first quarter 2016: Severance Costs Retention Bonuses Total (In thousands) Balance at year-end 2015 $ (1,049 ) $ — $ (1,049 ) Additions (2,072 ) (491 ) (2,563 ) Payments 3,121 77 3,198 Balance at first quarter-end 2016 $ — $ (414 ) $ (414 )

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Information	Segment Information We manage our operations through three segments: real estate, oil and gas and other natural resources. Real estate secures entitlements and develops infrastructure on our lands for single-family residential and mixed-use communities, and manages our undeveloped land, commercial and income producing properties, primarily a hotel and our multifamily investments. Oil and gas is an independent oil and gas exploration, development and production operation and manages our owned and leased mineral interests. Other natural resources manages our timber, recreational leases and water resource initiatives. Total assets allocated by segment are as follows: First Year-End 2016 2015 (In thousands) Real estate $ 666,726 $ 691,238 Oil and gas 97,346 144,436 Other natural resources 19,025 19,106 Assets not allocated to segments (a) 164,955 117,466 $ 948,052 $ 972,246 _________________________ (a) Assets not allocated to segments at first quarter-end 2016 principally consist of cash and cash equivalents of $142,646,000 and an income tax receivable of $14,359,000 . Assets not allocated to segments at year-end 2015 principally consist of cash and cash equivalents of $96,442,000 and an income tax receivable of $12,056,000 . We evaluate performance based on segment earnings (loss) before unallocated items and income taxes. Segment earnings (loss) consist of operating income, equity in earnings (loss) of unconsolidated ventures, gain on sales of assets, interest income on loans secured by real estate and net (income) loss attributable to noncontrolling interests. Items not allocated to our business segments consist of general and administrative expense, share-based and long-term incentive compensation, gain on sale of strategic timberland, interest expense and other corporate non-operating income and expense. The accounting policies of the segments are the same as those described in Note 1—Basis of Presentation . Our revenues are derived from U.S. operations and all of our assets are located in the U.S. In first quarter 2016 , no single customer accounted for more than ten percent of our total revenues. Segment revenues and earnings are as follows: First Quarter 2016 2015 (In thousands) Revenues: Real estate $ 36,098 $ 32,830 Oil and gas 5,352 13,185 Other natural resources 438 1,790 Total revenues $ 41,888 $ 47,805 Segment earnings (loss): Real estate $ 20,224 $ 9,066 Oil and gas (12,441 ) (2,941 ) Other natural resources (581 ) (391 ) Total segment earnings (loss) 7,202 5,734 Items not allocated to segments (a) (14,204 ) (18,251 ) Income (loss) before taxes attributable to Forestar Group Inc. $ (7,002 ) $ (12,517 ) _________________________ (a) Items not allocated to segments consist of: First Quarter 2016 2015 (In thousands) General and administrative expense $ (4,973 ) $ (6,020 ) Shared-based and long-term incentive compensation expense (1,544 ) (3,458 ) Interest expense (7,639 ) (8,821 ) Other corporate non-operating income (48 ) 48 $ (14,204 ) $ (18,251 )

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities We participate in real estate ventures for the purpose of acquiring and developing residential, multifamily and mixed-use communities in which we may or may not have a controlling financial interest. Generally accepted accounting principles require consolidation of Variable Interest Entities (VIEs) in which an enterprise has a controlling financial interest and is the primary beneficiary. A controlling financial interest will have both of the following characteristics: (a) the power to direct the VIE activities that most significantly impact economic performance and (b) the obligation to absorb the VIE losses and right to receive benefits that are significant to the VIE. We examine specific criteria and use judgment when determining whether we are the primary beneficiary and must consolidate a VIE. We perform this review initially at the time we enter into venture agreements and continuously reassess to see if we are the primary beneficiary of a VIE. At first quarter-end 2016 , we have one VIE. We account for this VIE using the equity method since we are not the primary beneficiary. Although we have certain rights regarding major decisions, we do not have the power to direct the activities that are most significant to the economic performance of the VIE. At first quarter-end 2016 , the VIE has total assets of $4,161,000 , substantially all of which represent developed and undeveloped real estate, and total liabilities of $2,208,000 , which includes $2,203,000 of borrowings classified as current maturities. These amounts are included in the summarized balance sheet information for ventures accounted for using the equity method in Note 8—Investment in Unconsolidated Ventures . At first quarter-end 2016 , our investment in the VIE is $1,558,000 and is included in investment in unconsolidated ventures. In first quarter 2016 , we contributed $44,000 to this VIE. Our maximum exposure to loss related to the VIE is $3,766,000 , which exceeds our investment as we have a nominal general partner interest and could be held responsible for its liabilities. The maximum exposure to loss represents the maximum loss that we could be required to recognize assuming all the ventures’ assets (principally real estate) are worthless, without consideration of the probability of a loss or of any actions we may take to mitigate any such loss.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation and Long-Term Incentive Compensation	Share-Based and Long-Term Incentive Compensation Share-based and long-term incentive compensation expense consists of: First Quarter 2016 2015 (In thousands) Cash-settled awards $ 619 $ 296 Equity-settled awards 479 1,997 Restricted stock 6 17 Stock options 276 1,032 Total share-based compensation 1,380 3,342 Deferred cash 164 116 $ 1,544 $ 3,458 Share-based and long-term incentive compensation expense is included in: First Quarter 2016 2015 (In thousands) General and administrative expense $ 1,506 $ 2,122 Other operating expense 38 1,336 $ 1,544 $ 3,458 Share-Based Compensation In first quarter 2016 , we granted 174,419 equity-settled awards to employees in the form of restricted stock units which vest ratably over three years and provide for accelerated vesting upon retirement, disability, death, or if there is a change in control. In addition, in first quarter 2016, we granted 69,760 restricted stock units to our board of directors which vest 25 percent at grant date and 25 percent at each subsequent quarterly board meeting and a stock option grant to acquire 20,000 shares of common stock for each of the two new directors, of which 6,500 shares vest on the first and second anniversary of the date of grant and the remaining 7,000 shares vest on the third anniversary of the date of grant. The option term is ten years. Expense associated with annual restricted stock units and non-qualified stock options to our board of directors is included in share-based compensation expense. Excluded from share-based compensation expense in the table above are fees earned by our board of directors in the amount of $265,000 and $285,000 in first quarter 2016 and 2015 for which they elected to defer payment until retirement in the form of share-settled units. These expenses are included in general and administrative expense. The fair value of awards granted to retirement eligible employees expensed at the date of grant was $600,000 and $517,000 in first quarter 2016 and 2015 . Unrecognized share-based compensation expense related to non-vested equity-settled awards, restricted stock and stock options is $3,879,000 at first quarter-end 2016 . In first quarter 2016 and 2015 , we issued 165,167 and 157,201 shares out of our treasury stock associated with vesting of stock-based awards or exercise of stock options, net of 23,691 and 48,636 shares withheld having a value of $205,000 and $723,000 for payroll taxes in connection with vesting of stock-based awards or exercise of stock options. Long-Term Incentive Compensation In first quarter 2016 and 2015, we granted $620,000 and $587,000 of long-term incentive compensation in the form of deferred cash compensation. The 2016 deferred cash awards vest annually over two years, and the 2015 deferred cash awards vest after three years. Both awards provide for accelerated vesting upon retirement, disability, death, or if there is a change in control. Expense associated with deferred cash awards is recognized ratably over the vesting period. The accrued liability was $319,000 and $225,000 at first quarter-end 2016 and year-end 2015 and is included in other liabilities.

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2016
Subsequent Event [Abstract]
Subsequent Event	Subsequent Events On April 18, 2016, we sold Eleven, a 257 -unit multifamily project in Austin for $60,150,000 . The transaction generated net proceeds of $35,150,000 after closing costs and prorations and payoff of the related debt of $23,936,000 . On May 4, 2016, we sold Radisson Hotel & Suites in Austin for $130,000,000 . The transaction generated net proceeds of $112,000,000 after closing costs and prorations and payoff of the related debt of $15,400,000 . On May 6, 2016, we sold our remaining Bakken/Three Forks oil and gas properties for $50,000,000 . Net proceeds after closing costs and prorations were $46,525,000 . In second quarter 2016, we expect to incur an additional loss related to this transaction due to allocation of goodwill on a relative fair value basis to these assets. With this transaction, we have completely exited our oil and gas working interest assets in North Dakota.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our consolidated financial statements include the accounts of Forestar Group Inc., all subsidiaries, ventures and other entities in which we have a controlling interest. We account for our investment in other entities in which we have significant influence over operations and financial policies using the equity method. We eliminate all material intercompany accounts and transactions. Noncontrolling interests in consolidated pass-through entities are recognized before income taxes. We prepare our unaudited interim financial statements in accordance with U.S. generally accepted accounting principles and Securities and Exchange Commission requirements for interim financial statements. As a result, they do not include all the information and disclosures required for complete financial statements. However, in our opinion, all adjustments considered necessary for a fair presentation have been included. Such adjustments consist only of normal recurring items unless otherwise noted. We make estimates and assumptions about future events. Actual results can, and probably will, differ from those we currently estimate including those principally related to allocating costs to real estate, measuring long-lived assets for impairment, oil and gas revenue accruals, capital expenditure and lease operating expense accruals associated with our oil and gas production activities, oil and gas reserves and depletion of our oil and gas properties. These interim operating results are not necessarily indicative of the results that may be expected for the entire year. For further information, please read the financial statements included in our 2015 Annual Report on Form 10-K.

New and Pending Accounting Pr26

New and Pending Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
New and Pending Accounting Pronouncements	New and Pending Accounting Pronouncements Adoption of New Accounting Standards In April 2015, the FASB issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs, as part of its initiative to reduce complexity in accounting standards. To simplify presentation of debt issuance costs, the amendments in this update require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. In August 2015, the FASB issued ASU 2015-15, Interest-Imputation of Interest (Subtopic 835-30), Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements - Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting (SEC Update), which allows an entity to defer and present debt issuance costs as an asset and subsequently amortize the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The updated standards are effective for financial statements issued for annual and interim periods beginning after December 15, 2015. We adopted ASU 2015-03 in first quarter 2016 and prior period amounts have been reclassified to conform to the current period presentation. As of December 31, 2015, $8,267,000 of debt issuance costs were reclassified in the consolidated balance sheet from other assets to debt. The adoption did not impact our consolidated financial position, results of operations or cash flows. As permitted under this guidance, we will continue to present debt issuance costs associated with revolving-debt agreements as other assets. In February 2015, the FASB issued ASU 2015-02, Consolidation: Amendments to the Consolidation Analysis (Topic 810) , requiring entities to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. The revised consolidation model: (1) modifies the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities, (2) eliminates the presumption that a general partner should consolidate a limited partnership, (3) affects the consolidation analysis of reporting entities that are involved with VIEs, and (4) provides a scope exception from consolidation guidance for reporting entities with interests in certain legal entities. The updated standard is effective for financial statements issued for annual and interim periods beginning after December 15, 2015. The adoption of this guidance, which was applied retrospectively, had no impact to the consolidated financial statements. Pending Accounting Standards In May 2014, the FASB issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) , requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The updated standard will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. Early adoption is not permitted. The updated standard becomes effective for annual and interim periods beginning after December 15, 2016. In July 2015, the FASB decided to defer the effective date of the new standard by one year, to December 15, 2017. We have not yet selected a transition method and we are currently evaluating the effect that the updated standard will have on our earnings, financial position and disclosures. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , in order to provide increased transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The updated standard is effective for financial statements issued for annual periods beginning after December 15, 2019 and interim periods within fiscal years beginning after December 31, 2020 with early adoption permitted. We are currently evaluating the effect that the updated standard will have on our earnings, financial position and disclosures. In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , as part of its Simplification Initiative. The areas for simplification in this Update involve several aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, and the classification on the statement of cash flows. The updated standard becomes effective for annual and interim periods beginning after December 31, 2016. We are currently evaluating the effect that the updated standard will have on our earnings, financial position and disclosures.

Real Estate (Tables)

Real Estate (Tables)	3 Months Ended
	Mar. 31, 2016
Real Estate [Abstract]
Real Estate	Real estate consists of: First Quarter-End 2016 Year-End 2015 Carrying Value Accumulated Depreciation Net Carrying Value Carrying Value Accumulated Depreciation Net Carrying Value (In thousands) Entitled, developed and under development projects $ 352,369 $ — $ 352,369 $ 352,141 $ — $ 352,141 Undeveloped land (includes land in entitlement) 96,875 — 96,875 98,181 — 98,181 Commercial Radisson Hotel & Suites (a) — — — 62,889 (29,268 ) 33,621 Income producing properties Eleven (a) — — — 53,896 (2,861 ) 51,035 Dillon (a) — — — 19,987 — 19,987 Music Row (b) — — — 9,947 — 9,947 Downtown Edge 12,991 — 12,991 12,706 — 12,706 West Austin 9,118 — 9,118 9,097 — 9,097 $ 471,353 $ — $ 471,353 $ 618,844 $ (32,129 ) $ 586,715 ___________________ (a) Classified as assets held for sale at first quarter-end 2016. Please see Note 5—Held for Sale and Note 19—Subsequent Events. (b) Sold in first quarter 2016.

Oil and Gas Properties (Tables)

Oil and Gas Properties (Tables)	3 Months Ended
	Mar. 31, 2016
Extractive Industries [Abstract]
Net Capitalized Costs Related to Oil and Gas Producing Activities	Net capitalized costs, utilizing the successful efforts method of accounting, related to our oil and gas producing activities follows: First Year-End 2016 2015 (In thousands) Unproved leasehold interests $ 11,453 $ 19,441 Proved oil and gas properties 75,673 119,414 Total costs 87,126 138,855 Less: accumulated depreciation, depletion and amortization (44,746 ) (58,242 ) $ 42,380 $ 80,613

Held for Sale (Tables)

Held for Sale (Tables)	3 Months Ended
	Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Assets and Liabilities of Properties Held for Sale	The major classes of assets and liabilities of the properties held for sale at first quarter-end 2016 are as follows: First 2016 Assets Held for Sale: (In thousands) Real estate, net of accumulated depreciation of $32,945 $ 105,987 Oil and gas properties and equipment, net of accumulated depletion of $1,162 401 Prepaid expenses 150 Goodwill and other intangible assets 10 $ 106,548 Liabilities Held for Sale: Other accrued expenses $ 74 Other liabilities 677 $ 751

Goodwill and Other Intangible30

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying value of goodwill and other intangible assets	Carrying value of goodwill and other intangible assets follows: First Year-End 2016 2015 (In thousands) Goodwill $ 53,920 $ 61,164 Identified intangibles, net 1,941 1,964 $ 55,861 $ 63,128

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Reconciliation of Changes in Equity	A reconciliation of changes in equity at first quarter-end 2016 follows: Forestar Group Inc. Noncontrolling Interests Total (In thousands) Balance at year-end 2015 $ 501,600 $ 2,515 $ 504,115 Net income (loss) (4,376 ) 80 (4,296 ) Distributions to noncontrolling interests — (171 ) (171 ) Other (primarily share-based compensation) 820 — 820 $ 498,044 $ 2,424 $ 500,468

Investment in Unconsolidated 32

Investment in Unconsolidated Ventures (Tables)	3 Months Ended
	Mar. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Summarized Balance Sheet Information	Combined summarized balance sheet information for our ventures accounted for using the equity method follows: Venture Assets Venture Borrowings (a) Venture Equity Our Investment First Year-End First Year-End First Year-End First Year-End 2016 2015 2016 2015 2016 2015 2016 2015 (In thousands) 242, LLC (b) $ 26,534 $ 26,687 $ 180 $ — $ 24,577 $ 24,877 $ 11,617 $ 11,766 CL Ashton Woods, LP (c) 4,641 7,654 — — 3,451 6,084 1,653 3,615 CL Realty, LLC 7,761 7,872 — — 7,709 7,662 3,854 3,831 CREA FMF Nashville LLC (b) 56,348 57,820 36,832 50,845 17,940 4,291 3,649 3,820 Elan 99, LLC 44,363 34,192 23,352 14,587 15,429 15,838 13,886 14,255 FOR/SR Forsyth LLC 6,950 6,500 — — 6,950 6,500 6,255 5,850 FMF Littleton LLC 59,433 52,376 26,706 22,347 24,200 24,370 6,228 6,270 FMF Peakview LLC — 48,869 — 30,485 — 16,828 — 3,447 HM Stonewall Estates, Ltd (c) 1,798 2,842 — — 1,798 2,842 1,034 1,294 LM Land Holdings, LP (c) 25,479 31,984 4,270 7,728 20,619 22,751 9,808 9,664 MRECV DT Holdings LLC 4,215 4,215 — — 4,215 4,215 3,793 3,807 MRECV Edelweiss LLC 2,404 2,237 — — 2,404 2,237 2,170 2,029 MRECV Juniper Ridge LLC 4,022 3,006 — — 4,021 3,006 3,645 2,730 MRECV Meadow Crossing II LLC 2,187 728 — — 2,187 728 1,982 655 Miramonte Boulder Pass, LLC 13,160 12,627 6,320 5,869 5,349 5,474 5,287 5,349 Temco Associates, LLC 5,295 5,284 — — 5,181 5,113 2,590 2,557 Other ventures (d) 4,167 4,174 2,202 2,242 1,958 1,922 1,562 1,514 $ 268,757 $ 309,067 $ 99,862 $ 134,103 $ 147,988 $ 154,738 $ 79,013 $ 82,453
Summarized Income Statement Information	Combined summarized income statement information for our ventures accounted for using the equity method follows: Venture Revenues Venture Earnings (Loss) Our Share of Earnings (Loss) First Quarter First Quarter First Quarter 2016 2015 2016 2015 2016 2015 (In thousands) 242, LLC (b) $ — $ 5,331 $ (300 ) $ 3,464 $ (150 ) $ 1,766 CL Ashton Woods, LP (c) 696 1,350 367 527 439 678 CL Realty, LLC 133 279 47 160 23 80 CREA FMF Nashville LLC (b) 901 6 (571 ) (113 ) (171 ) (113 ) Elan 99, LLC 20 — (410 ) (2 ) (369 ) (2 ) FMF Littleton LLC 321 — (170 ) — (42 ) — FMF Peakview LLC 939 186 (248 ) (482 ) (50 ) (96 ) FOR/SR Forsyth LLC — — — — — — HM Stonewall Estates, Ltd (c) 4,063 1,058 220 515 103 230 LM Land Holdings, LP (c) 1,000 1,976 640 1,250 144 364 MRECV DT Holdings LLC 98 — 98 — 88 — MRECV Edelweiss LLC 87 — 87 — 78 — MRECV Juniper Ridge LLC 3 — 3 — 3 — MRECV Meadow Crossing II LLC — — 34 — (31 ) — Miramonte Boulder Pass, LLC — — (125 ) — (62 ) — PSW Communities, LP — 2,427 — 195 — 173 Temco Associates, LLC 99 58 67 (1 ) 34 — Other ventures (d) — 3,701 26 (203 ) 10 (35 ) $ 8,360 $ 16,372 $ (235 ) $ 5,310 $ 47 $ 3,045 _____________________ (a) Total includes current maturities of $8,524,000 at first quarter-end 2016 , of which $6,320,000 is non-recourse to us, and $39,590,000 at year-end 2015 , of which $6,798,000 is non-recourse to us. (b) Includes unamortized deferred gains on real estate contributed by us to ventures. We recognize deferred gains as income as real estate is sold to third parties. Deferred gains of $1,496,000 are reflected as a reduction to our investment in unconsolidated ventures at first quarter-end 2016 . (c) Includes unrecognized basis difference of $30,000 which is reflected as a reduction of our investment in unconsolidated ventures at first quarter-end 2016 . The difference will be accreted as income or expense over the life of the investment and included in our share of earnings (loss) from the respective ventures. (d) Our investment in other ventures reflects our ownership interests, excluding venture losses that exceed our investment where we are not obligated to fund those losses. Please read Note 17—Variable Interest Entities for additional information.

Receivables (Tables)

Receivables (Tables)	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Receivables	Receivables consist of: First Year-End 2016 2015 (In thousands) Funds held by qualified intermediary for potential 1031 like-kind exchange $ — $ 14,703 Oil and gas revenue accruals 2,374 3,745 Other receivables and accrued interest 5,244 2,448 Oil and gas joint interest billing receivables 777 867 Other loans secured by real estate, average interest rates of 12.52% at first quarter-end 2016 and 11.31% at year-end 2015 1,485 2,130 9,880 23,893 Allowance for bad debts (203 ) (237 ) $ 9,677 $ 23,656

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt	Debt (a) consists of: First Year-End 2016 2015 (In thousands) 8.50% senior secured notes due 2022 $ 216,495 $ 224,647 3.75% convertible senior notes due 2020, net of discount 105,798 104,719 6.00% tangible equity unit notes, net of discount 6,552 8,666 Secured promissory notes — average interest rates of 3.43% at first quarter-end 2016 and 3.42% at year-end 2015 15,400 15,400 Other indebtedness — interest rates ranging from 2.44% to 5.50% 28,514 28,083 $ 372,759 $ 381,515 ___________________ (a) At first quarter-end 2016 and year-end 2015, $7,953,000 and $8,267,000 of unamortized deferred financing fees are deducted from our outstanding debt .

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements, Nonrecurring	Non-financial assets measured at fair value on a non-recurring basis are as follows: First Quarter-End 2016 Year-End 2015 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (In thousands) Non-Financial Assets and Liabilities: Real estate $ — $ — $ — $ — $ — $ — $ 641 $ 641 Proved oil and gas properties $ — $ — $ — $ — $ — $ — $ 39,000 $ 39,000 Unproved leasehold interests $ — $ — $ — $ — $ — $ — $ 18,219 $ 18,219
Information About Our Fixed Rate Financial Instruments Not Measured at Fair Value	Information about our fixed rate financial instruments not measured at fair value follows: First Quarter-End 2016 Year-End 2015 Carrying Amount Fair Value Carrying Amount Fair Value Valuation Technique (In thousands) Fixed rate debt $ (336,298 ) $ (310,236 ) $ (346,090 ) $ (321,653 ) Level 2

Net Income per Share (Tables)

Net Income per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Attributable to Common Shareholders and Weighted Average Common Shares Outstanding	The computations of basic and diluted earnings per share are as follows: First Quarter 2016 2015 (In thousands) Numerator: Consolidated net income (loss) $ (4,296 ) $ (8,237 ) Less: Net (income) loss attributable to noncontrolling interest (80 ) 79 Earnings (loss) available for diluted earnings per share $ (4,376 ) $ (8,158 ) Less: Undistributed net income allocated to participating securities — — Earnings (loss) available to common shareholders for basic earnings per share $ (4,376 ) $ (8,158 ) Denominator: Weighted average common shares outstanding — basic 34,302 34,168 Weighted average common shares upon conversion of participating securities — — Dilutive effect of stock options, restricted stock and equity-settled awards — — Total weighted average shares outstanding — diluted 34,302 34,168 Anti-dilutive awards excluded from diluted weighted average shares 10,468 10,743

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Restructuring and Related Costs	The following table summarizes activity related to liabilities associated with our restructuring activities in first quarter 2016: Severance Costs Retention Bonuses Total (In thousands) Balance at year-end 2015 $ (1,049 ) $ — $ (1,049 ) Additions (2,072 ) (491 ) (2,563 ) Payments 3,121 77 3,198 Balance at first quarter-end 2016 $ — $ (414 ) $ (414 )

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Assets Allocated by Segment	Total assets allocated by segment are as follows: First Year-End 2016 2015 (In thousands) Real estate $ 666,726 $ 691,238 Oil and gas 97,346 144,436 Other natural resources 19,025 19,106 Assets not allocated to segments (a) 164,955 117,466 $ 948,052 $ 972,246 _________________________ (a) Assets not allocated to segments at first quarter-end 2016 principally consist of cash and cash equivalents of $142,646,000 and an income tax receivable of $14,359,000 . Assets not allocated to segments at year-end 2015 principally consist of cash and cash equivalents of $96,442,000 and an income tax receivable of $12,056,000 .
Segment Revenues and Earnings	Segment revenues and earnings are as follows: First Quarter 2016 2015 (In thousands) Revenues: Real estate $ 36,098 $ 32,830 Oil and gas 5,352 13,185 Other natural resources 438 1,790 Total revenues $ 41,888 $ 47,805 Segment earnings (loss): Real estate $ 20,224 $ 9,066 Oil and gas (12,441 ) (2,941 ) Other natural resources (581 ) (391 ) Total segment earnings (loss) 7,202 5,734 Items not allocated to segments (a) (14,204 ) (18,251 ) Income (loss) before taxes attributable to Forestar Group Inc. $ (7,002 ) $ (12,517 ) _________________________ (a) Items not allocated to segments consist of: First Quarter 2016 2015 (In thousands) General and administrative expense $ (4,973 ) $ (6,020 ) Shared-based and long-term incentive compensation expense (1,544 ) (3,458 ) Interest expense (7,639 ) (8,821 ) Other corporate non-operating income (48 ) 48 $ (14,204 ) $ (18,251 )

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Components of Share-Based Compensation Expense (Income)	Share-based and long-term incentive compensation expense consists of: First Quarter 2016 2015 (In thousands) Cash-settled awards $ 619 $ 296 Equity-settled awards 479 1,997 Restricted stock 6 17 Stock options 276 1,032 Total share-based compensation 1,380 3,342 Deferred cash 164 116 $ 1,544 $ 3,458
Share-Based Compensation Expense (Income) Included in Operating Expense	Share-based and long-term incentive compensation expense is included in: First Quarter 2016 2015 (In thousands) General and administrative expense $ 1,506 $ 2,122 Other operating expense 38 1,336 $ 1,544 $ 3,458

New and Pending Accounting Pr40

New and Pending Accounting Pronouncements (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred finance costs, net	$ (7,953)	$ (8,267)
Accounting Standards Update 2015-03 | Other Assets
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred finance costs, net		8,267
Accounting Standards Update 2015-03 | Long-term Debt
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred finance costs, net		$ (8,267)

Real Estate - Real Estate (Deta

Real Estate - Real Estate (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	$ 471,353	$ 618,844
Less: accumulated depreciation	0	(32,129)
Total Real Estate	471,353	586,715
Radisson Hotel
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	0	62,889
Less: accumulated depreciation	0	(29,268)
Net carrying value	0	33,621
Undeveloped land (includes land in entitlement)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	96,875	98,181
Less: accumulated depreciation	0	0
Net carrying value	96,875	98,181
Entitled, developed and under development projects
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	352,369	352,141
Less: accumulated depreciation	0	0
Net carrying value	352,369	352,141
West Austin
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	9,118	9,097
Less: accumulated depreciation	0	0
Net carrying value	9,118	9,097
Downtown Edge
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	12,991	12,706
Less: accumulated depreciation	0	0
Net carrying value	12,991	12,706
Music Row
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	0	9,947
Less: accumulated depreciation	0	0
Net carrying value	0	9,947
Dillon
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	0	19,987
Less: accumulated depreciation	0	0
Net carrying value	0	19,987
Eleven
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	0	53,896
Less: accumulated depreciation	0	(2,861)
Net carrying value	$ 0	$ 51,035

Real Estate - Additional Inform

Real Estate - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)property	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Real Estate Properties [Line Items]
Gain on sale of assets	$ 2,604	$ 1,176
Real estate assets held for sale	105,987
Reimbursements from utility and improvement districts	(306)	$ (4,130)
Utility and Improvement District [Member]
Real Estate Properties [Line Items]
Cost of asset in developed and under development projects	69,770		$ 67,554
Reimbursements from utility and improvement districts	306
San Antonio Texas | Cibolo Canyons Project
Real Estate Properties [Line Items]
Cost of asset in developed and under development projects	22,357		$ 22,302
Cumulative reimbursable cost associated with real estate projects in development	54,376
Return of reimbursements received in relation to direct costs and expenses previously paid or incurred for development of real estate projects	34,703
Music Row
Real Estate Properties [Line Items]
Real estate property sale price	14,703
Gain on sale of assets	$ 3,968
Music Row | Multi Family Property
Real Estate Properties [Line Items]
Number of units of multifamily project | property	230
Eleven
Real Estate Properties [Line Items]
Number of units of multifamily project | property	257
Dillon
Real Estate Properties [Line Items]
Number of units of multifamily project | property	379

Oil and Gas Properties - Net Ca

Oil and Gas Properties - Net Capitalized Costs Related to Oil and Gas Producing Activities (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Extractive Industries [Abstract]
Unproved leasehold interests	$ 11,453	$ 19,441
Proved oil and gas properties	75,673	119,414
Total costs	87,126	138,855
Less: accumulated depreciation, depletion and amortization	(44,746)	(58,242)
Net capitalized costs	$ 42,380	$ 80,613

Oil and Gas Properties Addition

Oil and Gas Properties Additional Details (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)awell
Extractive Industries [Abstract]
Gain (loss) on disposition of proved property	$ (10,977)
Net mineral acres leased from others sold | a	190,960
Gross producing oil and gas wells sold | well	185
Net producing oil and gas wells sold | well	66
Proceeds from sale of oil and gas property and equipment	$ 32,227
Reimbursement of capital costs related to sale of in progress wells	3,269
Loss related to write-off of allocated goodwill	$ 7,244

Held for Sale (Additional Infor

Held for Sale (Additional Information) (Details)	Mar. 31, 2016property
Dillon | Charlotte, North Carolina
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of units of multifamily project	379
Disposal Group, Not Discontinued Operations | Eleven | Austin, Texas
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of units of multifamily project	257

Held for Sale (Assets and Liabi

Held for Sale (Assets and Liabilities of Properties Held for Sale) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets Held for Sale:
Assets held for sale	$ 106,548	$ 0
Liabilities Held for Sale:
Liabilities held for sale	751	$ 0
Radisson Hotel
Assets Held for Sale:
Prepaid expenses	150
Goodwill and other intangible assets	10
Assets held for sale	106,548
Liabilities Held for Sale:
Other accrued expenses	74
Other liabilities	677
Liabilities held for sale	751
Radisson Hotel | Real Estate
Assets Held for Sale:
Real estate, net of accumulated depreciation of $32,945	105,987
Oil and gas properties and equipment, net of accumulated depletion of $1,162	105,987
Liabilities Held for Sale:
Accumulated depletion, held-for-sale properties	32,945
Radisson Hotel | Oil and Gas Properties
Assets Held for Sale:
Real estate, net of accumulated depreciation of $32,945	401
Oil and gas properties and equipment, net of accumulated depletion of $1,162	401
Liabilities Held for Sale:
Accumulated depletion, held-for-sale properties	$ 1,162

Goodwill and Other Intangible47

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 53,920	$ 61,164
Identified intangibles, net	1,941	1,964
Goodwill and other intangible assets	$ 55,861	$ 63,128

Goodwill and Other Intangible48

Goodwill and Other Intangible Assets Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill	$ 53,920	$ 61,164
Credo
Business Acquisition [Line Items]
Goodwill	50,046	57,290
Credo | Patents
Business Acquisition [Line Items]
Finite-lived intangible assets, net	260
Water Resource Company
Business Acquisition [Line Items]
Goodwill	3,874	$ 3,874
Indefinite-lived intangible assets (excluding goodwill)	$ 1,681

Equity - Reconciliation of Chan

Equity - Reconciliation of Changes in Equity (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 504,115
Consolidated net income (loss)	(4,296)	$ (8,237)
Distributions to noncontrolling interests	(171)
Other (primarily share-based compensation)	820
Ending balance	500,468
Forestar Group Inc.
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	501,600
Consolidated net income (loss)	(4,376)
Distributions to noncontrolling interests	0
Other (primarily share-based compensation)	820
Ending balance	498,044
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	2,515
Consolidated net income (loss)	80
Distributions to noncontrolling interests	(171)
Other (primarily share-based compensation)	0
Ending balance	$ 2,424

Investment in Unconsolidated 50

Investment in Unconsolidated Ventures - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)propertyventure	Mar. 31, 2015USD ($)
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated ventures	$ 3,019	$ 831
Distributions of return on investments and earnings	2,871	3,500
Gain on sale of assets	$ 2,604	$ 1,176
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Number of ventures under ownership interest using equity method | venture	18
FMF Peakview
Schedule of Equity Method Investments [Line Items]
Gain on sale of assets	$ 9,613
FMF Peakview | Multi Family Property
Schedule of Equity Method Investments [Line Items]
Number of units of multifamily project | property	304

Investment in Unconsolidated 51

Investment in Unconsolidated Ventures - Summarized Balance Sheet Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Venture Assets	$ 268,757	$ 309,067
Venture Borrowings	99,862	134,103
Venture Equity	147,988	154,738
Investment in venture	79,013	82,453
242, LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	26,534	26,687
Venture Borrowings	180	0
Venture Equity	24,577	24,877
Investment in venture	11,617	11,766
CL Ashton Woods
Schedule of Equity Method Investments [Line Items]
Venture Assets	4,641	7,654
Venture Borrowings	0	0
Venture Equity	3,451	6,084
Investment in venture	1,653	3,615
CL Realty
Schedule of Equity Method Investments [Line Items]
Venture Assets	7,761	7,872
Venture Borrowings	0	0
Venture Equity	7,709	7,662
Investment in venture	3,854	3,831
CREA FMF
Schedule of Equity Method Investments [Line Items]
Venture Assets	56,348	57,820
Venture Borrowings	36,832	50,845
Venture Equity	17,940	4,291
Investment in venture	3,649	3,820
Elan 99, LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	44,363	34,192
Venture Borrowings	23,352	14,587
Venture Equity	15,429	15,838
Investment in venture	13,886	14,255
FOR/SR Forsyth LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	6,950	6,500
Venture Borrowings	0	0
Venture Equity	6,950	6,500
Investment in venture	6,255	5,850
FMF Littleton
Schedule of Equity Method Investments [Line Items]
Venture Assets	59,433	52,376
Venture Borrowings	26,706	22,347
Venture Equity	24,200	24,370
Investment in venture	6,228	6,270
FMF Peakview
Schedule of Equity Method Investments [Line Items]
Venture Assets	0	48,869
Venture Borrowings	0	30,485
Venture Equity	0	16,828
Investment in venture	0	3,447
HM Stonewall Estates
Schedule of Equity Method Investments [Line Items]
Venture Assets	1,798	2,842
Venture Borrowings	0	0
Venture Equity	1,798	2,842
Investment in venture	1,034	1,294
LM Land Holdings
Schedule of Equity Method Investments [Line Items]
Venture Assets	25,479	31,984
Venture Borrowings	4,270	7,728
Venture Equity	20,619	22,751
Investment in venture	9,808	9,664
MRECV DT Holdings LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	4,215	4,215
Venture Borrowings	0	0
Venture Equity	4,215	4,215
Investment in venture	3,793	3,807
MRECV Edelweiss LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	2,404	2,237
Venture Borrowings	0	0
Venture Equity	2,404	2,237
Investment in venture	2,170	2,029
MREC VH Juniper Ridge LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	4,022	3,006
Venture Borrowings	0	0
Venture Equity	4,021	3,006
Investment in venture	3,645	2,730
MRECV Meadow Crossing II LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	2,187	728
Venture Borrowings	0	0
Venture Equity	2,187	728
Investment in venture	1,982	655
Miramonte Boulder Pass, LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	13,160	12,627
Venture Borrowings	6,320	5,869
Venture Equity	5,349	5,474
Investment in venture	5,287	5,349
Temco
Schedule of Equity Method Investments [Line Items]
Venture Assets	5,295	5,284
Venture Borrowings	0	0
Venture Equity	5,181	5,113
Investment in venture	2,590	2,557
Other ventures
Schedule of Equity Method Investments [Line Items]
Venture Assets	4,167	4,174
Venture Borrowings	2,202	2,242
Venture Equity	1,958	1,922
Investment in venture	$ 1,562	$ 1,514

Investment in Unconsolidated 52

Investment in Unconsolidated Ventures - Summarized Income Statement Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Schedule of Equity Method Investments [Line Items]
Revenues	$ 8,360	$ 16,372
Earnings (loss)	(235)	5,310
Equity in earnings of unconsolidated ventures	47	3,045
242, LLC
Schedule of Equity Method Investments [Line Items]
Revenues	0	5,331
Earnings (loss)	(300)	3,464
Equity in earnings of unconsolidated ventures	(150)	1,766
CL Ashton Woods
Schedule of Equity Method Investments [Line Items]
Revenues	696	1,350
Earnings (loss)	367	527
Equity in earnings of unconsolidated ventures	439	678
CL Realty
Schedule of Equity Method Investments [Line Items]
Revenues	133	279
Earnings (loss)	47	160
Equity in earnings of unconsolidated ventures	23	80
CREA FMF
Schedule of Equity Method Investments [Line Items]
Revenues	901	6
Earnings (loss)	(571)	(113)
Equity in earnings of unconsolidated ventures	(171)	(113)
Elan 99, LLC
Schedule of Equity Method Investments [Line Items]
Revenues	20	0
Earnings (loss)	(410)	(2)
Equity in earnings of unconsolidated ventures	(369)	(2)
FMF Littleton
Schedule of Equity Method Investments [Line Items]
Revenues	321	0
Earnings (loss)	(170)	0
Equity in earnings of unconsolidated ventures	(42)	0
FMF Peakview
Schedule of Equity Method Investments [Line Items]
Revenues	939	186
Earnings (loss)	(248)	(482)
Equity in earnings of unconsolidated ventures	(50)	(96)
FOR/SR Forsyth LLC
Schedule of Equity Method Investments [Line Items]
Revenues	0	0
Earnings (loss)	0	0
Equity in earnings of unconsolidated ventures	0	0
HM Stonewall Estates
Schedule of Equity Method Investments [Line Items]
Revenues	4,063	1,058
Earnings (loss)	220	515
Equity in earnings of unconsolidated ventures	103	230
LM Land Holdings
Schedule of Equity Method Investments [Line Items]
Revenues	1,000	1,976
Earnings (loss)	640	1,250
Equity in earnings of unconsolidated ventures	144	364
MRECV DT Holdings LLC
Schedule of Equity Method Investments [Line Items]
Revenues	98	0
Earnings (loss)	98	0
Equity in earnings of unconsolidated ventures	88	0
MRECV Edelweiss LLC
Schedule of Equity Method Investments [Line Items]
Revenues	87	0
Earnings (loss)	87	0
Equity in earnings of unconsolidated ventures	78	0
MREC VH Juniper Ridge LLC
Schedule of Equity Method Investments [Line Items]
Revenues	3	0
Earnings (loss)	3	0
Equity in earnings of unconsolidated ventures	3	0
MRECV Meadow Crossing II LLC
Schedule of Equity Method Investments [Line Items]
Revenues	0	0
Earnings (loss)	34	0
Equity in earnings of unconsolidated ventures	(31)	0
Miramonte Boulder Pass, LLC
Schedule of Equity Method Investments [Line Items]
Revenues	0	0
Earnings (loss)	(125)	0
Equity in earnings of unconsolidated ventures	(62)	0
PSW Communities
Schedule of Equity Method Investments [Line Items]
Revenues	0	2,427
Earnings (loss)	0	195
Equity in earnings of unconsolidated ventures	0	173
Temco
Schedule of Equity Method Investments [Line Items]
Revenues	99	58
Earnings (loss)	67	(1)
Equity in earnings of unconsolidated ventures	34	0
Other ventures
Schedule of Equity Method Investments [Line Items]
Revenues	0	3,701
Earnings (loss)	26	(203)
Equity in earnings of unconsolidated ventures	$ 10	$ (35)

Investment in Unconsolidated 53

Investment in Unconsolidated Ventures - Summarized Income Statement Information additional information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Equity method investment, deferred gain on sale	$ 1,496
Unrecognized basis difference on equity method investment	30
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Long-term debt, current maturities	8,524	$ 39,590
Equity Method Investments | Non-recourse Debt
Schedule of Equity Method Investments [Line Items]
Long-term debt, current maturities	$ 6,320	$ 6,798

Receivables - Receivables (Deta

Receivables - Receivables (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 9,880	$ 23,893
Oil and gas joint interest billing receivables	777	867
Allowance for bad debts	(203)	(237)
Receivables, net	9,677	23,656
Funds held by qualified intermediary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	14,703
Oil and gas revenue accrual receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	2,374	3,745
Receivables and accrued interest
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 5,244	$ 2,448
Notes receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average interest rates	12.52%	11.31%
Total	$ 1,485	$ 2,130

Receivables - Additional Inform

Receivables - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016a
Accounts, Notes, Loans and Financing Receivable [Line Items]
Due period of notes receivable as secured by deed of trust	3 years
Funds held by qualified intermediary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Area of land	6,915

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Line of Credit Facility [Line Items]
Debt	$ 372,759	$ 381,515
Deferred finance costs, net	$ 7,953	$ 8,267
Senior Notes
Line of Credit Facility [Line Items]
Interest rate percentage	8.50%	8.50%
Debt	$ 216,495	$ 224,647
Debt instrument, maturity date	Jun. 1, 2022
Six Percent Tangible Equity Units
Line of Credit Facility [Line Items]
Average interest rate	6.00%	6.00%
Debt instrument, maturity date	Dec. 15, 2016
Convertible Debt
Line of Credit Facility [Line Items]
Debt	$ 105,798	$ 104,719
Secured Debt
Line of Credit Facility [Line Items]
Debt	$ 15,400	$ 15,400
Average interest rate	3.43%	3.42%
Other indebtedness
Line of Credit Facility [Line Items]
Debt	$ 28,514	$ 28,083
Variable and fixed interest rates ranging, minimum	2.44%
Variable and fixed interest rates ranging, maximum	5.50%
Convertible Debt
Line of Credit Facility [Line Items]
Interest rate percentage	3.75%	3.75%
Debt instrument, maturity date	Mar. 1, 2020
Six Percent Tangible Equity Units
Line of Credit Facility [Line Items]
Interest rate percentage	6.00%
Debt	$ 6,552	$ 8,666

Debt - Additional Information (

Debt - Additional Information (Details)	3 Months Ended
	Mar. 31, 2016USD ($)propertyRoom	Mar. 31, 2015USD ($)	Apr. 01, 2016	Dec. 31, 2015USD ($)	Dec. 30, 2015
Line of Credit Facility [Line Items]
Minimum net worth required for compliance (as a percent)	85.00%
Positive net income requirement for net worth compliance (as a percent)	75.00%
Debt	$ 372,759,000			$ 381,515,000
Carrying value	471,353,000			618,844,000
Deferred finance costs, net	7,953,000			$ 8,267,000
Amortization of deferred financing fees	$ 927,000	$ 1,156,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest coverage ratio	2.25			2.25	2.50
Maximum borrowing capacity under term Loan facility	$ 300,000,000
Maturity period of revolving line of credit	May 15, 2017
Sublimit for letters of credit outstanding	$ 15,817,000
Net unused borrowing capacity	$ 265,199,000
Percentage of spread on federal funds effective rate	0.50%
Minimum net worth required for compliance	$ 379,044,000
Effective leverage ratio (less than)	40.00%
Stockholders distribution covenant, interest coverage ratio	3
Minimum liquidity required by covenant	$ 125,000,000
Payments of capital distribution	$ 50,000,000
Percentage from sales of properties and non-core assets	65.00%
Senior Secured Credit Facility
Line of Credit Facility [Line Items]
Deferred finance costs, net	$ 2,264,000			$ 2,768,000
Austin, Texas
Line of Credit Facility [Line Items]
Guest room hotel | Room	413
Carrying value of multifamily project to secure non recourse loan	$ 33,415,000
Austin, Texas | Multi Family Property
Line of Credit Facility [Line Items]
Number of units of multifamily project | property	257
Austin, Texas | Multi Family Development Properties
Line of Credit Facility [Line Items]
Carrying value	$ 50,527,000
Senior Notes
Line of Credit Facility [Line Items]
Principal amount of debt	$ 8,600,000
Redemption price, percentage	99.00%
Debt	$ 216,495,000			224,647,000
Gain on extinguishment of debt	127,000
Unamortized debt issuance cost	225,000
Secured Debt
Line of Credit Facility [Line Items]
Debt	15,400,000			15,400,000
Secured Debt | Austin, Texas
Line of Credit Facility [Line Items]
Debt	15,400,000
Other indebtedness
Line of Credit Facility [Line Items]
Debt	28,514,000			$ 28,083,000
Other indebtedness | Austin, Texas | Multi Family Property
Line of Credit Facility [Line Items]
Debt	23,936,000
Letter of Credit | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, letters of credit sublimit	$ 100,000,000
LIBOR | Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	4.00%
Base Rate | Revolving Credit Facility
Line of Credit Facility [Line Items]
Percentage of variable spread on base rate	3.00%
30 day LIBOR rate | Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Scenario, Forecast | Revolving Credit Facility
Line of Credit Facility [Line Items]
Interest coverage ratio			2.50

Fair Value - Additional Informa

Fair Value - Additional Information (Details)	Mar. 31, 2016property
Eleven
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of units of multifamily project	257
Dillon
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of units of multifamily project	379

Fair Value Disclosures, Non-rec

Fair Value Disclosures, Non-recurring (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Real Estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	$ 0	$ 641
Real Estate | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	0
Real Estate | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	0
Real Estate | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	641
Proved Oil Gas Property
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	39,000
Proved Oil Gas Property | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	0
Proved Oil Gas Property | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	0
Proved Oil Gas Property | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	39,000
Oil and Gas Properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	18,219
Oil and Gas Properties | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	0
Oil and Gas Properties | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	0
Oil and Gas Properties | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	$ 0	$ 18,219

Fair Value - Information About

Fair Value - Information About Our Fixed Rate Financial Instruments Not Measured at Fair Value (Detail) - Fair Value, Inputs, Level 2 - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed rate debt	$ (310,236)	$ (321,653)
Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed rate debt	$ (336,298)	$ (346,090)

Capital Stock - Additional Info

Capital Stock - Additional Information (Detail) - Employees of former affliate - Employee Stock Option	3 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares
Equity [Line Items]
Options to purchase shares of common stock | shares	243,000
Weighted average exercise price | $ / shares	$ 30.27
Exercisable at end of period, weighted average remaining contractual term (less than)	1 year
Aggregate intrinsic value | $	$ 0

Net Income per Share - Earnings

Net Income per Share - Earnings Attributable to Common Shareholders and Weighted Average Common Shares Outstanding (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings available to common shareholders:
Consolidated net income (loss)	$ (4,296)	$ (8,237)
Less: Net (income) loss attributable to noncontrolling interests	(80)	79
Earnings (loss) available for diluted earnings per share	(4,376)	(8,158)
Less: Undistributed net income allocated to participating securities	0	0
Earnings (loss) available to common shareholders for basic earnings per share	$ (4,376)	$ (8,158)
Weighted average common shares outstanding - basic	34,302	34,168
Weighted average common shares upon conversion of participating securities	0	0
Dilutive effect of stock options, restricted stock and equity-settled awards	0	0
Weighted average common shares outstanding - diluted	34,302	34,168
Anti-dilutive awards excluded from diluted weighted average shares	10,468	10,743

Net Income per Share Additional

Net Income per Share Additional Information (Details)	3 Months Ended
	Mar. 31, 2016shares$ / shares	Dec. 31, 2015
Six Percent Tangible Equity Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Interest rate percentage	6.00%
Convertible Debt
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Interest rate percentage	3.75%	3.75%
Conversion price of convertible notes | $ / shares	$ 24.49
Minimum | Six Percent Tangible Equity Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Debt and equity instruments, shares to be Issued	6,547,800
Maximum | Six Percent Tangible Equity Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Debt and equity instruments, shares to be Issued	7,857,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation, percent	38.00%	35.00%
Benefit due to change in valuation allowance (as a percent)	3.00%
Detriment for goodwill due to the sale of oil and gas assets (as a percent)	5.00%
Benefit for noncontrolling interests (as a percent)		2.00%
Detriment for share-based compensation benefits that will not be realized (as a percent)		2.00%
Valuation allowance, deferred tax asset, amount	$ 95,389		$ 97,068

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)a	Dec. 31, 2015USD ($)
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Area for which certificate of completion received | a	288
Portion of site for which certificate not received | a	80
Accrual for environmental loss contingencies	$ 86
Cost to complete remediation activities	678
Asset retirement obligation	974	$ 1,758
Restructuring charges	2,563
One-time Termination Benefits | Real estate
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Restructuring charges	1,422
One-time Termination Benefits | Other natural resources
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Restructuring charges	164
General and Administrative Expense | One-time Termination Benefits
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Restructuring charges	486
Other Liabilities
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Asset retirement obligation	$ 230	$ 230

Commitments and Contingencies66

Commitments and Contingencies - (Non-Core Assets Restructuring Costs) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Restructuring Reserve [Roll Forward]
Restructuring Reserve	$ (1,049)
Restructuring charges	(2,563)
Payments for restructuring	3,198
Restructuring Reserve	(414)
Severance Costs
Restructuring Reserve [Roll Forward]
Restructuring Reserve	(1,049)
Restructuring charges	(2,072)
Payments for restructuring	3,121
Restructuring Reserve	0
Retention Bonuses
Restructuring Reserve [Roll Forward]
Restructuring Reserve	0
Restructuring charges	(491)
Payments for restructuring	77
Restructuring Reserve	$ (414)

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016segmentCustomer
Segment Reporting [Abstract]
Number of business segments | segment	3
Number of customer who contributed more than 10 percent of revenue | Customer	0
Maximum percentage of revenue from customer	10.00%

Segment Information - Assets Al

Segment Information - Assets Allocated by Segment (Detail) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Total Assets		$ 948,052	$ 972,246
Cash and cash equivalents		142,646	96,442	$ 126,262	$ 170,127
Income taxes receivable		14,359	12,056
Operating Segments | Real estate
Segment Reporting Information [Line Items]
Total Assets		666,726	691,238
Operating Segments | Oil and Gas
Segment Reporting Information [Line Items]
Total Assets		97,346	144,436
Operating Segments | Other natural resources
Segment Reporting Information [Line Items]
Total Assets		19,025	19,106
Items not allocated to segments
Segment Reporting Information [Line Items]
Total Assets	[1]	$ 164,955	$ 117,466
[1]	Assets not allocated to segments at first quarter-end 2016 principally consist of cash and cash equivalents of $142,646,000 and an income tax receivable of $14,359,000. Assets not allocated to segments at year-end 2015 principally consist of cash and cash equivalents of $96,442,000 and an income tax receivable of $12,056,000.

Segment Information - Segment R

Segment Information - Segment Revenues and Earnings (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Total revenues	$ 41,888	$ 47,805
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	(7,002)	(12,517)
General and administrative expense	6,479	8,142
Interest expense	7,639	8,821
Other corporate non-operating income	74	917
Segment Earnings
Segment Reporting Information [Line Items]
Total revenues	41,888	47,805
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	7,202	5,734
Segment Earnings | Real estate
Segment Reporting Information [Line Items]
Total revenues	36,098	32,830
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	20,224	9,066
Segment Earnings | Oil and Gas
Segment Reporting Information [Line Items]
Total revenues	5,352	13,185
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	(12,441)	(2,941)
Segment Earnings | Other natural resources
Segment Reporting Information [Line Items]
Total revenues	438	1,790
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	(581)	(391)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	(14,204)	(18,251)
General and administrative expense	(4,973)	(6,020)
Shared-based and long-term incentive compensation expense	(1,544)	(3,458)
Interest expense	(7,639)	(8,821)
Other corporate non-operating income	$ (48)	$ 48

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Detail) - Variable Interest Entity, Not Primary Beneficiary $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)Entity
Variable Interest Entity [Line Items]
Number of primary beneficiary | Entity	1
Total assets of developed and under developed real estate	$ 4,161
Total liabilities of developed and under developed real estate	2,208
Investment in VIEs	1,558
Contributed to VIE	44
Maximum Exposure to loss related to VIEs	3,766
Current Maturities of Borrowings
Variable Interest Entity [Line Items]
Total liabilities of developed and under developed real estate	$ 2,203

Share Based Compensation - Comp

Share Based Compensation - Components of Share-Based Compensation Expense (Income) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	$ 1,380	$ 3,342
Compensation expense	164	116
Share based and Long Term Incentive Compensation	1,544	3,458
Cash Settled Awards
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	619	296
Equity-settled awards
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	479	1,997
Restricted Stock
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	6	17
Employee Stock Option
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	276	1,032
General and Administrative Expense
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Share based and Long Term Incentive Compensation	1,506	2,122
Other Operating Expenses
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Share based and Long Term Incentive Compensation	$ 38	$ 1,336

Share Based Compensation - Shar

Share Based Compensation - Share Based Compensation Expense (Income) Included in Operating Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share based and Long Term Incentive Compensation	$ 1,544	$ 3,458
General and administrative expense
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share based and Long Term Incentive Compensation	1,506	2,122
Other Operating Expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share based and Long Term Incentive Compensation	$ 38	$ 1,336

Share Based Compensation - Addi

Share Based Compensation - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)directorshares	Mar. 31, 2015USD ($)shares	Dec. 31, 2015USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense | $	$ 164	$ 116
Fair value of awards granted to retirement eligible employees and expensed at date of grant | $	600	$ 517
Unrecognized share-based compensation expense related to non-vested equity-settled awards, restricted stock and stock options | $	$ 3,879
Shares issued out of treasury stock	165,167	157,201
Shares withheld for payroll taxes	23,691	48,636
Value of shares withheld for payroll taxes | $	$ 205	$ 723
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, equivalent units	174,419
Vesting period	3 years
Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	20,000
Number of new directors | director	2
Option term (in years)	10 years
Compensation expense | $	$ 265	285
Board of Directors | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, equivalent units	69,760
Vesting percentage	25.00%
Board of Directors | First anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting, number (in shares)	6,500
Board of Directors | Second anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting, number (in shares)	6,500
Board of Directors | Third anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting, number (in shares)	7,000
Long-Term Incentive Compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Deferred compensation arrangement with individual, cash award granted, amount | $	$ 620	$ 587
Deferred compensation arrangement with individual, service period (in years)	2 years	3 years
Deferred compensation cash-based arrangements, liability, current and noncurrent | $	$ 319		$ 225

Subsequent Event (Details)

Subsequent Event (Details) $ in Thousands	May. 06, 2016USD ($)	May. 04, 2016USD ($)	Apr. 18, 2016USD ($)property	Mar. 31, 2016USD ($)property	Mar. 31, 2015USD ($)
Subsequent Event [Line Items]
Payment of debt				$ 11,185	$ 2,463
Disposal Group, Not Discontinued Operations | Eleven | Austin, Texas
Subsequent Event [Line Items]
Number of units of multifamily project | property				257
Disposal Group, Not Discontinued Operations | Eleven | Austin, Texas | Subsequent Event
Subsequent Event [Line Items]
Number of units of multifamily project | property			257
Purchase price of properties sold			$ 60,150
Net proceeds			35,150
Payment of debt			$ 23,936
Disposal Group, Not Discontinued Operations | Radisson Hotel & Suites, Austin | Austin, Texas | Subsequent Event
Subsequent Event [Line Items]
Purchase price of properties sold		$ 130,000
Net proceeds		112,000
Payment of debt		$ 15,400
Disposal Group, Not Discontinued Operations | Bakken/Three Forks Oil and Gas Properties | Subsequent Event
Subsequent Event [Line Items]
Purchase price of properties sold	$ 50,000
Net proceeds	$ 46,525