Forestar (FOR) 10-Q 5 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 03, 2016
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
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		33,624,026

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 107,421	$ 96,442
Real estate, net	419,060	586,715
Assets of discontinued operations	1,845	104,967
Investment in unconsolidated ventures	79,730	82,453
Timber	7,183	7,683
Receivables, net	3,473	19,025
Income taxes receivable	3,228	12,056
Prepaid expenses	2,070	3,116
Property and equipment, net	10,003	10,732
Goodwill and other intangible assets	43,455	43,455
Other assets	4,365	5,602
TOTAL ASSETS	681,833	972,246
LIABILITIES AND EQUITY
Accounts payable	7,208	11,617
Accrued employee compensation and benefits	2,918	5,547
Accrued property taxes	3,406	4,529
Accrued interest	1,585	3,267
Deferred tax liability, net	992	1,037
Earnest money deposits	8,266	10,214
Other accrued expenses	10,980	14,556
Liabilities of discontinued operations	3,116	11,192
Other liabilities	22,147	24,657
Debt, net	114,185	381,515
TOTAL LIABILITIES	174,803	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 second quarter-end 2016 and year-end 2015	36,947	36,947
Additional paid-in capital	560,641	561,850
Accumulated deficit	(40,808)	(46,046)
Treasury stock, at cost, 3,322,577 shares at second quarter-end 2016 and 3,203,768 shares at year-end 2015	(51,877)	(51,151)
Total Forestar Group Inc. shareholders’ equity	504,903	501,600
Noncontrolling interests	2,127	2,515
TOTAL EQUITY	507,030	504,115
TOTAL LIABILITIES AND EQUITY	$ 681,833	$ 972,246

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	36,946,603	36,946,603
Treasury stock, common shares (in shares)	3,322,577	3,203,768

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
REVENUES
Real estate sales and other	$ 43,018	$ 28,300	$ 69,426	$ 50,261
Commercial and income producing properties	3,363	11,109	13,053	21,978
Real estate	46,381	39,409	82,479	72,239
Mineral resources	1,337	2,360	2,419	5,114
Other	274	1,856	712	3,646
Total revenues	47,992	43,625	85,610	80,999
COSTS AND EXPENSES
Cost of real estate sales and other	(66,877)	(13,890)	(80,139)	(24,252)
Cost of commercial and income producing properties	(5,789)	(7,548)	(10,951)	(15,240)
Cost of mineral resources	(160)	(267)	(390)	(655)
Cost of other	(119)	(860)	(504)	(1,780)
Other operating expenses	(8,317)	(11,400)	(20,408)	(24,694)
General and administrative	(4,852)	(4,901)	(11,331)	(13,043)
Total expenses	(86,114)	(38,866)	(123,723)	(79,664)
GAIN ON SALE OF ASSETS	107,650	1,160	121,231	1,160
OPERATING INCOME	69,528	5,919	83,118	2,495
Equity in earnings of unconsolidated ventures	188	5,584	235	8,629
Interest expense	(6,918)	(8,715)	(14,557)	(17,536)
Loss on extinguishment of debt, net	(35,766)	0	(35,864)	0
Other non-operating income	199	783	371	1,700
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES	27,231	3,571	33,303	(4,712)
Income tax benefit (expense)	(14,929)	(897)	(17,081)	1,869
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	12,302	2,674	16,222	(2,843)
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAXES	(2,048)	(36,992)	(10,264)	(39,712)
CONSOLIDATED NET INCOME (LOSS)	10,254	(34,318)	5,958	(42,555)
Less: Net income attributable to noncontrolling interests	(640)	(189)	(720)	(110)
NET INCOME (LOSS) ATTRIBUTABLE TO FORESTAR GROUP INC.	$ 9,614	$ (34,507)	$ 5,238	$ (42,665)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)	34,302	34,278	34,302	34,223
Diluted (in shares)	42,423	42,328	42,372	34,223
NET INCOME (LOSS) PER BASIC SHARE
Continuing operations, basic (usd per share)	$ 0.28	$ 0.07	$ 0.37	$ (0.09)
Discontinued operations, basic (usd per share)	(0.05)	(1.08)	(0.24)	(1.16)
NET INCOME (LOSS) PER BASIC SHARE (usd per share)	0.23	(1.01)	0.13	(1.25)
NET INCOME (LOSS) PER DILUTED SHARE
Continuing operations, diluted (usd per share)	0.28	0.06	0.37	(0.09)
Discontinued operation, diluted (usd per share)	(0.05)	(0.87)	(0.24)	(1.16)
NET INCOME (LOSS) PER DILUTED SHARE (usd per share)	$ 0.23	$ (0.81)	$ 0.13	$ (1.25)
TOTAL COMPREHENSIVE INCOME (LOSS)	$ 9,614	$ (34,507)	$ 5,238	$ (42,665)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net income (loss)	$ 5,958	$ (42,555)
Adjustments:
Depreciation, depletion and amortization	7,268	23,360
Change in deferred income taxes	(45)	(25,103)
Equity in earnings of unconsolidated ventures	(235)	(8,629)
Distributions of earnings of unconsolidated ventures	2,067	5,089
Share-based compensation	1,716	3,327
Real estate cost of sales	33,836	24,151
Dry hole and unproved leasehold impairment charges	0	30,663
Real estate development and acquisition expenditures, net	(33,066)	(57,353)
Reimbursements from utility and improvement districts	306	7,154
Asset impairments	49,438	25,764
Loss on debt extinguishment, net	35,864	0
Gain on sale of assets	(106,658)	(2,014)
Other	3,402	2,333
Changes in:
Notes and accounts receivable	18,849	8,144
Prepaid expenses and other	1,080	2,502
Accounts payable and other accrued liabilities	(16,069)	(17,919)
Income taxes	8,828	3,573
Net cash provided by (used for) operating activities	12,539	(17,513)
CASH FLOWS FROM INVESTING ACTIVITIES:
Property, equipment, software, reforestation and other	(5,639)	(6,971)
Oil and gas properties and equipment	(567)	(40,286)
Investment in unconsolidated ventures	(4,658)	(10,136)
Proceeds from sales of assets	318,480	2,984
Return of investment in unconsolidated ventures	1,914	1,960
Net cash provided by (used for) investing activities	309,530	(52,449)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments of debt	(307,491)	(4,925)
Additions to debt	1,462	5,016
Deferred financing fees	0	(100)
Distributions to noncontrolling interests, net	(1,108)	(687)
Repurchases of common stock	(3,537)	0
Payroll taxes on issuance of stock-based awards	(205)	(723)
Other	(211)	15
Net cash used for financing activities	(311,090)	(1,404)
Net increase (decrease) in cash and cash equivalents	10,979	(71,366)
Cash and cash equivalents at beginning of period	96,442	170,127
Cash and cash equivalents at end of period	$ 107,421	$ 98,761

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 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. At second quarter-end 2016, we have exited substantially all of our oil and gas working interest properties with the sale of the remaining Bakken/Three Forks properties in North Dakota which closed in second quarter 2016. As a result of this significant change in our operations, we have reported the results of operations and financial position of these assets as discontinued operations within the consolidated statements of income (loss) and comprehensive income (loss) and consolidated balance sheets for all periods presented. In addition, in second quarter 2016, we changed the name of the oil and gas segment to mineral resources to reflect the strategic shift from oil and gas working interest investments to owned mineral interests. We also changed the name of the other natural resources segment to other.

New and Pending Accounting Pron

New and Pending Accounting Pronouncements	6 Months Ended
	Jun. 30, 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	6 Months Ended
	Jun. 30, 2016
Real Estate [Abstract]
Real Estate	Real Estate Real estate consists of: Second 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 $ 312,749 $ — $ 312,749 $ 352,141 $ — $ 352,141 Timberland and undeveloped land (includes land in entitlement) 87,885 — 87,885 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 (a) — — — 9,947 — 9,947 Downtown Edge multifamily site 12,988 — 12,988 12,706 — 12,706 West Austin multifamily site 5,438 — 5,438 9,097 — 9,097 $ 419,060 $ — $ 419,060 $ 618,844 $ (32,129 ) $ 586,715 ___________________ (a) Sold in 2016. In second quarter 2016, we sold the Radisson Hotel & Suites, a 413 room hotel in Austin, for $130,000,000 , generating $128,764,000 in net proceeds before paying in full the associated debt of $15,400,000 and recognized a gain on sale of $95,336,000 . We also sold Eleven, a wholly-owned 257 -unit multifamily property in Austin, for $60,150,000 , generating $59,719,000 in net proceeds before paying in full the associated debt of $23,936,000 and recognized a gain on sale of $9,116,000 . In addition, we sold Dillon, a planned 379 -unit multifamily property that was under construction in Charlotte, for $25,979,000 , generating $25,433,000 in net proceeds and recognized a gain on sale of $1,229,000 . In first quarter 2016, we sold Music Row, a planned 230 -unit multifamily property that was under construction in Nashville, for $15,025,000 , generating $14,703,000 in net proceeds and recognized a gain on sale of $3,968,000 . In second quarter 2016, we recognized non-cash impairment charges of $48,826,000 related to five non-core community development projects and one multifamily site. These impairments were a result of our key initiative to review our entire portfolio of assets which resulted in business plan changes, inclusive of cash tax savings considerations, to market these properties for sale, which resulted in adjustment of the carrying value to fair value. Our estimated costs of assets for which we expect to be reimbursed by utility and improvement districts were $69,675,000 at second quarter-end 2016 and $67,554,000 at year-end 2015 , including $23,062,000 at second quarter-end 2016 and $22,302,000 at year-end 2015 related to our Cibolo Canyons project near San Antonio, Texas. In first six months 2016 , we have collected $306,000 in reimbursements that were previously submitted to these districts. At second 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.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	At second quarter-end 2016, we have exited substantially all of our oil and gas working interest properties with the sale of the remaining Bakken/Three Forks properties which closed in second quarter 2016. As a result of this significant change in our operations, we have reported the results of operations and financial position of these assets as discontinued operations within the consolidated statements of income (loss) and comprehensive income (loss) and consolidated balance sheets for all periods presented. In addition, in second quarter 2016, we changed the name of the oil and gas segment to mineral resources to reflect the strategic shift from oil and gas working interest investments to owned mineral interests. Summarized results from discontinued operations were as follows: Second Quarter First Six Months 2016 2015 2016 2015 (In thousands) Revenues $ 1,377 $ 13,805 $ 5,647 $ 24,236 Cost of sales (1,521 ) (69,874 ) (6,485 ) (81,028 ) Other operating expenses (1,066 ) (2,242 ) (2,389 ) (7,008 ) Loss from discontinued operations before income taxes $ (1,210 ) $ (58,311 ) $ (3,227 ) $ (63,800 ) Gain (loss) on disposal before income taxes (3,596 ) (322 ) (14,573 ) 854 Income tax benefit (expense) 2,758 21,641 7,536 23,234 Loss from discontinued operations, net of taxes $ (2,048 ) $ (36,992 ) $ (10,264 ) $ (39,712 ) 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 working interest wells in Nebraska, Kansas, Oklahoma and North Dakota for total 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. In second quarter 2016, we recorded a net loss of $3,596,000 on the sale of nearly 8,100 net mineral acres leased from others and 175 gross ( 16 net) producing oil and gas working interest wells principally in North Dakota for total sales proceeds of $46,986,000 . The major classes of assets and liabilities of discontinued operations held for sale at second quarter-end 2016 and year-end 2015 are as follows: Second Quarter-End 2016 2015 (In thousands) Assets of Discontinued Operations: Receivables, net of allowance for bad debt $ 1,276 $ 4,632 Oil and gas properties and equipment, net 438 79,733 Goodwill and other intangible assets — 19,673 Prepaid expenses 31 96 Other assets 100 833 $ 1,845 $ 104,967 Liabilities of Discontinued Operations: Accounts payable $ 751 $ 342 Accrued property taxes — 259 Other accrued expenses 1,979 8,924 Other liabilities 386 1,667 $ 3,116 $ 11,192 Significant operating activities and investing activities of discontinued operations are as follows: First Six Months 2016 2015 (In thousands) Operating activities: Asset impairments $ 612 $ 25,035 Dry hole and unproved leasehold impairment charges — 30,663 Loss (gain) on sale of assets 14,573 (854 ) Depreciation, depletion and amortization 2,147 15,157 $ 17,332 $ 70,001 Investing activities: Oil and gas properties and equipment $ (567 ) $ (40,286 ) Proceeds from sales of assets 75,944 2,524 $ 75,377 $ (37,762 )

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 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: Second Year-End 2016 2015 (In thousands) Goodwill $ 41,774 $ 41,774 Identified intangibles 1,681 1,681 $ 43,455 $ 43,455 Goodwill related to our mineral interests was $37,900,000 at second quarter-end 2016 and year-end 2015 . Goodwill associated with our water resources initiatives was $3,874,000 at second quarter-end 2016 and year-end 2015 . Identified intangibles include $1,681,000 in indefinite lived groundwater leases associated with our water resources initiatives.

Equity

Equity	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Equity	Equity A reconciliation of changes in equity through second 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) 5,238 720 5,958 Distributions to noncontrolling interests — (1,108 ) (1,108 ) Repurchase of common shares (3,537 ) — (3,537 ) Other (primarily share-based compensation) 1,602 — 1,602 $ 504,903 $ 2,127 $ 507,030 In second quarter 2016, we repurchased 283,976 shares of our common stock at an average price of $12.45 per share.

Investment in Unconsolidated Ve

Investment in Unconsolidated Ventures	6 Months Ended
	Jun. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Investment in Unconsolidated Ventures	Investment in Unconsolidated Ventures At second quarter-end 2016 , we had ownership interests in 18 ventures that we accounted 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 near 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 Second Year-End Second Year-End Second Year-End Second Year-End 2016 2015 2016 2015 2016 2015 2016 2015 (In thousands) 242, LLC (b) $ 28,221 $ 26,687 $ 1,649 $ — $ 24,413 $ 24,877 $ 11,535 $ 11,766 CL Ashton Woods, LP (c) 4,445 7,654 — — 3,602 6,084 1,978 3,615 CL Realty, LLC 7,829 7,872 — — 7,726 7,662 3,863 3,831 CREA FMF Nashville LLC (b) 56,165 57,820 36,945 50,845 17,441 4,291 3,500 3,820 Elan 99, LLC 48,248 34,192 29,788 14,587 14,494 15,838 13,045 14,255 FOR/SR Forsyth LLC 8,249 6,500 — — 8,233 6,500 7,410 5,850 FMF Littleton LLC 68,528 52,376 37,328 22,347 24,022 24,370 6,184 6,270 FMF Peakview LLC — 48,869 — 30,485 — 16,828 — 3,447 HM Stonewall Estates, Ltd (c) 1,660 2,842 — — 1,660 2,842 693 1,294 LM Land Holdings, LP (c) 27,009 31,984 4,983 7,728 21,388 22,751 9,934 9,664 MRECV DT Holdings LLC 4,287 4,215 — — 4,287 4,215 3,629 3,807 MRECV Edelweiss LLC 2,472 2,237 — — 2,466 2,237 2,471 2,029 MRECV Juniper Ridge LLC 4,179 3,006 — — 4,179 3,006 3,827 2,730 MRECV Meadow Crossing II LLC 2,224 728 — — 2,224 728 2,028 655 Miramonte Boulder Pass, LLC 13,063 12,627 6,973 5,869 5,506 5,474 5,450 5,349 Temco Associates, LLC 5,312 5,284 — — 5,192 5,113 2,596 2,557 Other ventures (d) 4,161 4,174 2,157 2,242 1,998 1,922 1,587 1,514 $ 286,052 $ 309,067 $ 119,823 $ 134,103 $ 148,831 $ 154,738 $ 79,730 $ 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) Second Quarter First Six Months Second Quarter First Six Months Second Quarter First Six Months 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 (In thousands) 242, LLC (b) $ — $ 12,368 $ — $ 17,699 $ (164 ) $ 4,409 $ (464 ) $ 7,873 $ (82 ) $ 2,279 $ (232 ) $ 4,045 CL Ashton Woods, LP (c) 993 1,061 1,689 2,411 151 851 518 1,378 324 878 763 1,556 CL Realty, LLC 113 190 246 469 17 83 64 243 8 42 31 122 CREA FMF Nashville LLC (b) 1,081 29 1,982 35 (498 ) (103 ) (1,069 ) (216 ) (149 ) (103 ) (320 ) (216 ) Elan 99, LLC 147 — 167 — (934 ) — (1,344 ) (2 ) (841 ) — (1,210 ) (2 ) FMF Littleton LLC 526 — 847 — (178 ) — (348 ) — (44 ) — (86 ) — FMF Peakview LLC — 466 939 652 — (252 ) (248 ) (734 ) — (50 ) (50 ) (146 ) FOR/SR Forsyth LLC — — — — (17 ) — (17 ) — (15 ) — (15 ) — HM Stonewall Estates, Ltd (c) 580 611 1,126 1,669 294 297 514 812 124 343 227 573 LM Land Holdings, LP (c) 2,026 4,321 3,026 6,297 1,415 2,538 2,055 3,788 501 923 645 1,287 MRECV DT Holdings LLC 119 — 217 — 117 — 215 — 105 — 193 — MRECV Edelweiss LLC 94 — 181 — 87 — 174 — 78 — 156 — MRECV Juniper Ridge LLC 202 — 205 — 203 — 206 — 183 — 186 — MRECV Meadow Crossing II LLC 29 — 29 — 16 — (18 ) — 14 — (17 ) — Miramonte Boulder Pass, LLC 663 — 663 — (34 ) (49 ) (159 ) (49 ) (17 ) (25 ) (79 ) (25 ) PSW Communities, LP — 13,642 — 16,069 — 2,333 — 2,528 — 788 — 961 Temco Associates, LLC 48 1,086 147 1,144 12 460 79 459 6 230 40 230 Other ventures (d) — — — 3,701 (83 ) (55 ) (57 ) (258 ) (7 ) 279 3 244 $ 6,621 $ 33,774 $ 11,464 $ 50,146 $ 404 $ 10,512 $ 101 $ 15,822 $ 188 $ 5,584 $ 235 $ 8,629 _____________________ (a) Total includes current maturities of $4,412,000 at second quarter-end 2016 , of which $4,412,000 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 second quarter-end 2016 . (c) Includes unrecognized basis difference of $181,000 which is reflected as a reduction of our investment in unconsolidated ventures at second 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 16—Variable Interest Entities for additional information. In first six months 2016 , we invested $4,658,000 in these ventures and received $3,981,000 in distributions. In first six months 2015 , we invested $10,136,000 in these ventures and received $7,049,000 in distributions. Distributions include both return of investments and distribution of earnings.

Receivables

Receivables	6 Months Ended
	Jun. 30, 2016
Receivables [Abstract]
Receivables	Receivables Receivables consist of: Second Year-End 2016 2015 (In thousands) Funds held by qualified intermediary for potential 1031 like-kind exchange $ — $ 14,703 Other receivables and accrued interest 1,753 2,218 Other loans secured by real estate, average interest rates of 12.85% at second quarter-end 2016 and 11.31% at year-end 2015 1,746 2,130 3,499 19,051 Allowance for bad debts (26 ) (26 ) $ 3,473 $ 19,025 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	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt, net Debt (a) consists of: Second Year-End 2016 2015 (In thousands) 8.50% senior secured notes due 2022 $ 5,189 $ 224,647 3.75% convertible senior notes due 2020, net of discount 102,602 104,719 6.00% tangible equity unit notes, net of discount 4,403 8,666 Secured promissory note — average interest rates of 3.43% at first quarter-end 2016 and 3.42% at year-end 2015 — 15,400 Other indebtedness — interest rates ranging from 5.0% to 5.50% 1,991 28,083 $ 114,185 $ 381,515 ___________________ (a) At second quarter-end 2016 and year-end 2015, $1,907,000 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. At second quarter-end 2016, we were in compliance with the financial covenants of these agreements. At second quarter-end 2016 , our senior secured credit facility provided 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 $15,321,000 was outstanding at second 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 second quarter-end 2016 , we had $216,187,000 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 second 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 since third quarter-end 2015. 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 , all of which were satisfied at second quarter-end 2016. Regardless of whether the foregoing conditions are satisfied, 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. On June 21, 2016, we completed a cash tender offer for our 8.50% Senior Secured Notes due 2022 (Notes), pursuant to which we purchased $215,495,000 principal amount (representing approximately 97.6% outstanding) of the Notes. Total consideration paid was $245,604,000 , which included $29,091,000 in premium at 113.5% and $1,018,000 in accrued and unpaid interest. In addition, we received consent from holders of the Notes to eliminate or modify certain covenants, events of default and other provisions contained in the indenture governing the Notes, and to release the subsidiary guarantees and collateral securing the Notes. We also purchased $1,150,000 principal amount of Notes at 99.95% of face value in open market transactions. The second quarter 2016 tender offer and open market purchases resulted in a $35,583,000 loss on extinguishment of debt, which includes the premium paid to repurchase the Notes, write-off of unamortized debt issuance costs of $5,191,000 and $1,301,000 in other costs related to tender offer advisory services. In first quarter 2016, we purchased $8,600,000 principal amount of Notes at 99% of face value in the open market transactions, resulting in a $127,000 gain on the early extinguishment of the Notes offset by the write-off of unamortized debt issuance costs of $225,000 . In second quarter 2016, we purchased $5,000,000 of 3.75% Convertible Senior Notes at 93.25% of face value in open market transactions for $4,662,500 and we allocated $4,452,000 to extinguish the debt and $211,000 to reacquire the equity component within the convertible notes based on the fair value of the debt component. We recognized a $110,000 loss on extinguishment of debt based on the difference between the fair value of the debt component prior to conversion and the carrying value of the debt component. Total loss on extinguishment of debt including write-off of debt issuance costs allocated to the repurchased notes was $183,000 . In second quarter 2016, a secured promissory note of $15,400,000 was paid in full in connection with sale of the Radisson Hotel & Suites, a 413 guest room hotel located in Austin, for $130,000,000 . In second quarter 2016, other indebtedness decreased principally as result of selling Eleven, a 257 -unit multifamily project in Austin, for $60,150,000 and paying in full the associated debt of $23,936,000 . At second quarter-end 2016 and year-end 2015 , we had $1,907,000 and $8,267,000 in unamortized deferred financing fees which were deducted from our debt. In addition, at second quarter-end 2016 and year-end 2015, unamortized deferred financing fees related to our senior secured credit facility included in other assets were $1,761,000 and $2,768,000 . Amortization of deferred financing fees were $1,877,000 and $2,016,000 in first six months 2016 and 2015 and were included in interest expense.

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 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. In second quarter 2016, we recognized non-cash impairment charges of $48,826,000 related to five non-core community development projects and one multifamily site as a result of the review of our entire portfolio of assets and marketing these properties for sale. We based our valuations primarily on third party broker price opinions and current negotiations and letters of intent with expected buyers. In second quarter 2016, we recognized non-cash impairment charges of $612,000 related to oil and gas working interests properties which are classified as discontinued operations. Non-financial assets measured at fair value on a non-recurring basis are as follows: Second 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 $ — $ — $ 28,476 $ 28,476 $ — $ — $ 641 $ 641 Assets of discontinued operations $ — $ — $ 538 $ 538 $ — $ — $ 57,219 $ 57,219 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: Second Quarter-End 2016 Year-End 2015 Carrying Amount Fair Value Carrying Amount Fair Value Valuation Technique (In thousands) Fixed rate debt $ (114,089 ) $ (112,826 ) $ (346,090 ) $ (321,653 ) Level 2

Capital Stock

Capital Stock	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Capital Stock	Capital Stock Please read Note 17—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 second quarter-end 2016 , personnel of former affiliates held options to purchase 241,000 shares of our common stock. The options have a weighted average exercise price of $30.30 and a weighted average remaining contractual term of less than one year . At second quarter-end 2016 , the options had an aggregate intrinsic value of $0 .

Net Income (Loss) per Share

Net Income (Loss) per Share	6 Months Ended
	Jun. 30, 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 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 from continuing operations in first six months 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: Second Quarter First Six Months 2016 2015 2016 2015 (In thousands) Numerator: Continuing operations Net income (loss) from continuing operations $ 12,302 $ 2,674 $ 16,222 $ (2,843 ) Less: Net (income) loss attributable to noncontrolling interest (640 ) (189 ) (720 ) (110 ) Earnings (loss) available for diluted earnings per share $ 11,662 $ 2,485 $ 15,502 $ (2,953 ) Less: Undistributed net income from continuing operations allocated to participating securities (2,173 ) — (2,889 ) — Earnings (loss) from continuing operations available to common shareholders for basic earnings per share $ 9,489 $ 2,485 $ 12,613 $ (2,953 ) Discontinued operations Net income (loss) from discontinued operations available for diluted earnings per share $ (2,048 ) $ (36,992 ) $ (10,264 ) $ (39,712 ) Less: Undistributed net income from discontinued operations allocated to participating securities 382 — 1,913 — Earnings (loss) from discontinued operations available to common shareholders for basic earnings per share $ (1,666 ) $ (36,992 ) $ (8,351 ) $ (39,712 ) Denominator: Weighted average common shares outstanding — basic 34,302 34,278 34,302 34,223 Weighted average common shares upon conversion of participating securities 7,857 7,857 7,857 — Dilutive effect of stock options, restricted stock and equity-settled awards 264 193 213 — Total weighted average shares outstanding — diluted 42,423 42,328 42,372 34,223 Anti-dilutive awards excluded from diluted weighted average shares 1,987 2,779 2,218 10,786 The actual number of shares we may issue upon settlement of the stock purchase contract related to the 6.00% tangible equity units 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 3.75% 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 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 second quarter 2016 did not exceed the conversion price which resulted in no additional diluted outstanding shares.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate from continuing operations was 55 percent in second quarter 2016 and 51 percent for the first six months 2016, which includes an 18 percent detriment for an increase in our valuation allowance which was recorded to offset current year increases in our deferred tax asset. Our effective tax rate from continuing operations was 25 percent in second quarter 2015 and 40 percent in first six months 2015, which included a four percent benefit for noncontrolling interests and a seven percent detriment for share-based compensation benefits that will not be realized. In addition, 2016 and 2015 effective tax rates from continuing operations include the effect of state income taxes, nondeductible items and benefits of percentage depletion. At second quarter-end 2016 and year-end 2015, we had a valuation allowance for our deferred tax assets of $97,041,000 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 June 30, 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	6 Months Ended
	Jun. 30, 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. 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 six months 2016, we increased our reserves for environmental remediation by $117,000 due to additional testing and remediation requirements by state regulatory agencies. We estimate the remaining cost to complete remediation activities will be $651,000 , 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 of discontinued operations. At second quarter-end 2016 and year-end 2015, our asset retirement obligation was $486,000 and $1,758,000 , of which $386,000 and $1,667,000 is included in liabilities of discontinued operations 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, in first six months 2016, we incurred and paid severance costs related to workforce reductions of $1,422,000 in our real estate segment, $164,000 in our other 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 for first six months 2016: Severance Costs Retention Bonuses Total (In thousands) Balance at year-end 2015 $ (1,049 ) $ — $ (1,049 ) Additions (2,072 ) (796 ) (2,868 ) Payments 3,121 620 3,741 Balance at second quarter-end 2016 $ — $ (176 ) $ (176 )

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Segment Information	Segment Information We manage our operations through three segments: real estate, mineral resources and other. Real estate secures entitlements and develops infrastructure on our lands for single-family residential and mixed-use communities, and manages our undeveloped land and commercial and income producing properties, which consist of three projects and two multifamily sites. Mineral resources manages our owned mineral interests. Other manages our timber, recreational leases and water resource initiatives. In second quarter 2016, we changed the name of the oil and gas segment to mineral resources to reflect the strategic shift from oil and gas working interest investments to owned mineral interests. We also changed the name of the other natural resources to other. Total assets allocated by segment are as follows: Second Year-End 2016 2015 (In thousands) Real estate $ 504,552 $ 691,238 Mineral resources 39,182 39,469 Other 18,483 19,106 Assets of discontinued operations 1,845 104,967 Assets not allocated to segments (a) 117,771 117,466 $ 681,833 $ 972,246 _________________________ (a) Assets not allocated to segments at second quarter-end 2016 principally consist of cash and cash equivalents of $107,421,000 and an income tax receivable of $3,228,000 . 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 . Assets of discontinued operations represent oil and gas working interest assets we have or will be exiting. 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, loss on extinguishment of debt 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 second quarter 2016 , no single customer accounted for more than ten percent of our total revenues. Segment revenues and earnings are as follows: Second Quarter First Six Months 2016 2015 2016 2015 (In thousands) Revenues: Real estate $ 46,381 $ 39,409 $ 82,479 $ 72,239 Mineral resources 1,337 2,360 2,419 5,114 Other 274 1,856 712 3,646 Total revenues $ 47,992 $ 43,625 $ 85,610 $ 80,999 Segment earnings (loss): Real estate $ 73,290 $ 15,527 $ 93,514 $ 24,593 Mineral resources 933 1,766 1,486 3,138 Other (197 ) (43 ) (778 ) (434 ) Total segment earnings 74,026 17,250 94,222 27,297 Items not allocated to segments (a) (47,435 ) (13,868 ) (61,639 ) (32,119 ) Income (loss) from continuing operations before taxes attributable to Forestar Group Inc. $ 26,591 $ 3,382 $ 32,583 $ (4,822 ) _________________________ (a) Items not allocated to segments consist of: Second Quarter First Six Months 2016 2015 2016 2015 (In thousands) General and administrative expense $ (4,514 ) $ (5,177 ) $ (9,487 ) $ (11,197 ) Shared-based and long-term incentive compensation expense (412 ) (23 ) (1,956 ) (3,481 ) Interest expense (6,918 ) (8,715 ) (14,557 ) (17,536 ) Loss on extinguishment of debt, net (35,766 ) — (35,864 ) — Other corporate non-operating income 175 47 225 95 $ (47,435 ) $ (13,868 ) $ (61,639 ) $ (32,119 )

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 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 second 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 second quarter-end 2016 , the VIE has total assets of $4,157,000 , substantially all of which represent developed and undeveloped real estate, and total liabilities of $2,163,000 , which includes $0 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 7—Investment in Unconsolidated Ventures . At second quarter-end 2016 , our investment in the VIE is $1,584,000 and is included in investment in unconsolidated ventures. In first six months 2016 , we contributed $78,000 to this VIE. Our maximum exposure to loss related to the VIE is $3,747,000 , 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	6 Months Ended
	Jun. 30, 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: Second Quarter First Six Months 2016 2015 2016 2015 (In thousands) Cash-settled awards $ (494 ) $ (1,447 ) $ 125 $ (1,151 ) Equity-settled awards 625 918 1,104 2,915 Restricted stock 6 (20 ) 12 (3 ) Stock options 199 534 475 1,566 Total share-based compensation 336 (15 ) 1,716 3,327 Deferred cash 76 38 240 154 $ 412 $ 23 $ 1,956 $ 3,481 Share-based and long-term incentive compensation expense is included in: Second Quarter First Six Months 2016 2015 2016 2015 (In thousands) General and administrative expense $ 338 $ (276 ) $ 1,844 $ 1,846 Other operating expense 74 299 112 1,635 $ 412 $ 23 $ 1,956 $ 3,481 Share-Based Compensation In first six months 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 six months 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 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 $163,000 and $229,000 in second quarter of 2016 and 2015 and $428,000 and $514,000 in first six months 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 six months 2016 and 2015 . Unrecognized share-based compensation expense related to non-vested equity-settled awards, restricted stock and stock options is $3,178,113 at second quarter-end 2016 . In first six months 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 six months 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 $395,000 and $225,000 at second quarter-end 2016 and year-end 2015 and is included in other liabilities.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
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. At second quarter-end 2016, we have exited substantially all of our oil and gas working interest properties with the sale of the remaining Bakken/Three Forks properties in North Dakota which closed in second quarter 2016. As a result of this significant change in our operations, we have reported the results of operations and financial position of these assets as discontinued operations within the consolidated statements of income (loss) and comprehensive income (loss) and consolidated balance sheets for all periods presented. In addition, in second quarter 2016, we changed the name of the oil and gas segment to mineral resources to reflect the strategic shift from oil and gas working interest investments to owned mineral interests. We also changed the name of the other natural resources segment to other.

New and Pending Accounting Pr24

New and Pending Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
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)	6 Months Ended
	Jun. 30, 2016
Real Estate [Abstract]
Real Estate	Real estate consists of: Second 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 $ 312,749 $ — $ 312,749 $ 352,141 $ — $ 352,141 Timberland and undeveloped land (includes land in entitlement) 87,885 — 87,885 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 (a) — — — 9,947 — 9,947 Downtown Edge multifamily site 12,988 — 12,988 12,706 — 12,706 West Austin multifamily site 5,438 — 5,438 9,097 — 9,097 $ 419,060 $ — $ 419,060 $ 618,844 $ (32,129 ) $ 586,715 ___________________ (a) Sold in 2016.

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Summarized Results from Discontinued Operations	Summarized results from discontinued operations were as follows: Second Quarter First Six Months 2016 2015 2016 2015 (In thousands) Revenues $ 1,377 $ 13,805 $ 5,647 $ 24,236 Cost of sales (1,521 ) (69,874 ) (6,485 ) (81,028 ) Other operating expenses (1,066 ) (2,242 ) (2,389 ) (7,008 ) Loss from discontinued operations before income taxes $ (1,210 ) $ (58,311 ) $ (3,227 ) $ (63,800 ) Gain (loss) on disposal before income taxes (3,596 ) (322 ) (14,573 ) 854 Income tax benefit (expense) 2,758 21,641 7,536 23,234 Loss from discontinued operations, net of taxes $ (2,048 ) $ (36,992 ) $ (10,264 ) $ (39,712 )
Schedule of Assets and Liabilities of Discontinued Operations	The major classes of assets and liabilities of discontinued operations held for sale at second quarter-end 2016 and year-end 2015 are as follows: Second Quarter-End 2016 2015 (In thousands) Assets of Discontinued Operations: Receivables, net of allowance for bad debt $ 1,276 $ 4,632 Oil and gas properties and equipment, net 438 79,733 Goodwill and other intangible assets — 19,673 Prepaid expenses 31 96 Other assets 100 833 $ 1,845 $ 104,967 Liabilities of Discontinued Operations: Accounts payable $ 751 $ 342 Accrued property taxes — 259 Other accrued expenses 1,979 8,924 Other liabilities 386 1,667 $ 3,116 $ 11,192
Significant Operation and Investing Activities of DIscontinued Operations	Significant operating activities and investing activities of discontinued operations are as follows: First Six Months 2016 2015 (In thousands) Operating activities: Asset impairments $ 612 $ 25,035 Dry hole and unproved leasehold impairment charges — 30,663 Loss (gain) on sale of assets 14,573 (854 ) Depreciation, depletion and amortization 2,147 15,157 $ 17,332 $ 70,001 Investing activities: Oil and gas properties and equipment $ (567 ) $ (40,286 ) Proceeds from sales of assets 75,944 2,524 $ 75,377 $ (37,762 )

Goodwill and Other Intangible27

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying value of goodwill and other intangible assets	Carrying value of goodwill and other intangible assets follows: Second Year-End 2016 2015 (In thousands) Goodwill $ 41,774 $ 41,774 Identified intangibles 1,681 1,681 $ 43,455 $ 43,455

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Reconciliation of Changes in Equity	A reconciliation of changes in equity through second 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) 5,238 720 5,958 Distributions to noncontrolling interests — (1,108 ) (1,108 ) Repurchase of common shares (3,537 ) — (3,537 ) Other (primarily share-based compensation) 1,602 — 1,602 $ 504,903 $ 2,127 $ 507,030

Investment in Unconsolidated 29

Investment in Unconsolidated Ventures (Tables)	6 Months Ended
	Jun. 30, 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 Second Year-End Second Year-End Second Year-End Second Year-End 2016 2015 2016 2015 2016 2015 2016 2015 (In thousands) 242, LLC (b) $ 28,221 $ 26,687 $ 1,649 $ — $ 24,413 $ 24,877 $ 11,535 $ 11,766 CL Ashton Woods, LP (c) 4,445 7,654 — — 3,602 6,084 1,978 3,615 CL Realty, LLC 7,829 7,872 — — 7,726 7,662 3,863 3,831 CREA FMF Nashville LLC (b) 56,165 57,820 36,945 50,845 17,441 4,291 3,500 3,820 Elan 99, LLC 48,248 34,192 29,788 14,587 14,494 15,838 13,045 14,255 FOR/SR Forsyth LLC 8,249 6,500 — — 8,233 6,500 7,410 5,850 FMF Littleton LLC 68,528 52,376 37,328 22,347 24,022 24,370 6,184 6,270 FMF Peakview LLC — 48,869 — 30,485 — 16,828 — 3,447 HM Stonewall Estates, Ltd (c) 1,660 2,842 — — 1,660 2,842 693 1,294 LM Land Holdings, LP (c) 27,009 31,984 4,983 7,728 21,388 22,751 9,934 9,664 MRECV DT Holdings LLC 4,287 4,215 — — 4,287 4,215 3,629 3,807 MRECV Edelweiss LLC 2,472 2,237 — — 2,466 2,237 2,471 2,029 MRECV Juniper Ridge LLC 4,179 3,006 — — 4,179 3,006 3,827 2,730 MRECV Meadow Crossing II LLC 2,224 728 — — 2,224 728 2,028 655 Miramonte Boulder Pass, LLC 13,063 12,627 6,973 5,869 5,506 5,474 5,450 5,349 Temco Associates, LLC 5,312 5,284 — — 5,192 5,113 2,596 2,557 Other ventures (d) 4,161 4,174 2,157 2,242 1,998 1,922 1,587 1,514 $ 286,052 $ 309,067 $ 119,823 $ 134,103 $ 148,831 $ 154,738 $ 79,730 $ 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) Second Quarter First Six Months Second Quarter First Six Months Second Quarter First Six Months 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 (In thousands) 242, LLC (b) $ — $ 12,368 $ — $ 17,699 $ (164 ) $ 4,409 $ (464 ) $ 7,873 $ (82 ) $ 2,279 $ (232 ) $ 4,045 CL Ashton Woods, LP (c) 993 1,061 1,689 2,411 151 851 518 1,378 324 878 763 1,556 CL Realty, LLC 113 190 246 469 17 83 64 243 8 42 31 122 CREA FMF Nashville LLC (b) 1,081 29 1,982 35 (498 ) (103 ) (1,069 ) (216 ) (149 ) (103 ) (320 ) (216 ) Elan 99, LLC 147 — 167 — (934 ) — (1,344 ) (2 ) (841 ) — (1,210 ) (2 ) FMF Littleton LLC 526 — 847 — (178 ) — (348 ) — (44 ) — (86 ) — FMF Peakview LLC — 466 939 652 — (252 ) (248 ) (734 ) — (50 ) (50 ) (146 ) FOR/SR Forsyth LLC — — — — (17 ) — (17 ) — (15 ) — (15 ) — HM Stonewall Estates, Ltd (c) 580 611 1,126 1,669 294 297 514 812 124 343 227 573 LM Land Holdings, LP (c) 2,026 4,321 3,026 6,297 1,415 2,538 2,055 3,788 501 923 645 1,287 MRECV DT Holdings LLC 119 — 217 — 117 — 215 — 105 — 193 — MRECV Edelweiss LLC 94 — 181 — 87 — 174 — 78 — 156 — MRECV Juniper Ridge LLC 202 — 205 — 203 — 206 — 183 — 186 — MRECV Meadow Crossing II LLC 29 — 29 — 16 — (18 ) — 14 — (17 ) — Miramonte Boulder Pass, LLC 663 — 663 — (34 ) (49 ) (159 ) (49 ) (17 ) (25 ) (79 ) (25 ) PSW Communities, LP — 13,642 — 16,069 — 2,333 — 2,528 — 788 — 961 Temco Associates, LLC 48 1,086 147 1,144 12 460 79 459 6 230 40 230 Other ventures (d) — — — 3,701 (83 ) (55 ) (57 ) (258 ) (7 ) 279 3 244 $ 6,621 $ 33,774 $ 11,464 $ 50,146 $ 404 $ 10,512 $ 101 $ 15,822 $ 188 $ 5,584 $ 235 $ 8,629 _____________________ (a) Total includes current maturities of $4,412,000 at second quarter-end 2016 , of which $4,412,000 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 second quarter-end 2016 . (c) Includes unrecognized basis difference of $181,000 which is reflected as a reduction of our investment in unconsolidated ventures at second 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 16—Variable Interest Entities for additional information.

Receivables (Tables)

Receivables (Tables)	6 Months Ended
	Jun. 30, 2016
Receivables [Abstract]
Receivables	Receivables consist of: Second Year-End 2016 2015 (In thousands) Funds held by qualified intermediary for potential 1031 like-kind exchange $ — $ 14,703 Other receivables and accrued interest 1,753 2,218 Other loans secured by real estate, average interest rates of 12.85% at second quarter-end 2016 and 11.31% at year-end 2015 1,746 2,130 3,499 19,051 Allowance for bad debts (26 ) (26 ) $ 3,473 $ 19,025

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt (a) consists of: Second Year-End 2016 2015 (In thousands) 8.50% senior secured notes due 2022 $ 5,189 $ 224,647 3.75% convertible senior notes due 2020, net of discount 102,602 104,719 6.00% tangible equity unit notes, net of discount 4,403 8,666 Secured promissory note — average interest rates of 3.43% at first quarter-end 2016 and 3.42% at year-end 2015 — 15,400 Other indebtedness — interest rates ranging from 5.0% to 5.50% 1,991 28,083 $ 114,185 $ 381,515 ___________________ (a) At second quarter-end 2016 and year-end 2015, $1,907,000 and $8,267,000 of unamortized deferred financing fees are deducted from our outstanding debt .

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements, Nonrecurring	Non-financial assets measured at fair value on a non-recurring basis are as follows: Second 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 $ — $ — $ 28,476 $ 28,476 $ — $ — $ 641 $ 641 Assets of discontinued operations $ — $ — $ 538 $ 538 $ — $ — $ 57,219 $ 57,219
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: Second Quarter-End 2016 Year-End 2015 Carrying Amount Fair Value Carrying Amount Fair Value Valuation Technique (In thousands) Fixed rate debt $ (114,089 ) $ (112,826 ) $ (346,090 ) $ (321,653 ) Level 2

Net Income (Loss) per Share (Ta

Net Income (Loss) per Share (Tables)	6 Months Ended
	Jun. 30, 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: Second Quarter First Six Months 2016 2015 2016 2015 (In thousands) Numerator: Continuing operations Net income (loss) from continuing operations $ 12,302 $ 2,674 $ 16,222 $ (2,843 ) Less: Net (income) loss attributable to noncontrolling interest (640 ) (189 ) (720 ) (110 ) Earnings (loss) available for diluted earnings per share $ 11,662 $ 2,485 $ 15,502 $ (2,953 ) Less: Undistributed net income from continuing operations allocated to participating securities (2,173 ) — (2,889 ) — Earnings (loss) from continuing operations available to common shareholders for basic earnings per share $ 9,489 $ 2,485 $ 12,613 $ (2,953 ) Discontinued operations Net income (loss) from discontinued operations available for diluted earnings per share $ (2,048 ) $ (36,992 ) $ (10,264 ) $ (39,712 ) Less: Undistributed net income from discontinued operations allocated to participating securities 382 — 1,913 — Earnings (loss) from discontinued operations available to common shareholders for basic earnings per share $ (1,666 ) $ (36,992 ) $ (8,351 ) $ (39,712 ) Denominator: Weighted average common shares outstanding — basic 34,302 34,278 34,302 34,223 Weighted average common shares upon conversion of participating securities 7,857 7,857 7,857 — Dilutive effect of stock options, restricted stock and equity-settled awards 264 193 213 — Total weighted average shares outstanding — diluted 42,423 42,328 42,372 34,223 Anti-dilutive awards excluded from diluted weighted average shares 1,987 2,779 2,218 10,786

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Restructuring and Related Costs	The following table summarizes activity related to liabilities associated with our restructuring activities for first six months 2016: Severance Costs Retention Bonuses Total (In thousands) Balance at year-end 2015 $ (1,049 ) $ — $ (1,049 ) Additions (2,072 ) (796 ) (2,868 ) Payments 3,121 620 3,741 Balance at second quarter-end 2016 $ — $ (176 ) $ (176 )

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Assets Allocated by Segment	Total assets allocated by segment are as follows: Second Year-End 2016 2015 (In thousands) Real estate $ 504,552 $ 691,238 Mineral resources 39,182 39,469 Other 18,483 19,106 Assets of discontinued operations 1,845 104,967 Assets not allocated to segments (a) 117,771 117,466 $ 681,833 $ 972,246 _________________________ (a) Assets not allocated to segments at second quarter-end 2016 principally consist of cash and cash equivalents of $107,421,000 and an income tax receivable of $3,228,000 . 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 . Assets of discontinued operations represent oil and gas working interest assets we have or will be exiting.
Segment Revenues and Earnings	Segment revenues and earnings are as follows: Second Quarter First Six Months 2016 2015 2016 2015 (In thousands) Revenues: Real estate $ 46,381 $ 39,409 $ 82,479 $ 72,239 Mineral resources 1,337 2,360 2,419 5,114 Other 274 1,856 712 3,646 Total revenues $ 47,992 $ 43,625 $ 85,610 $ 80,999 Segment earnings (loss): Real estate $ 73,290 $ 15,527 $ 93,514 $ 24,593 Mineral resources 933 1,766 1,486 3,138 Other (197 ) (43 ) (778 ) (434 ) Total segment earnings 74,026 17,250 94,222 27,297 Items not allocated to segments (a) (47,435 ) (13,868 ) (61,639 ) (32,119 ) Income (loss) from continuing operations before taxes attributable to Forestar Group Inc. $ 26,591 $ 3,382 $ 32,583 $ (4,822 ) _________________________ (a) Items not allocated to segments consist of: Second Quarter First Six Months 2016 2015 2016 2015 (In thousands) General and administrative expense $ (4,514 ) $ (5,177 ) $ (9,487 ) $ (11,197 ) Shared-based and long-term incentive compensation expense (412 ) (23 ) (1,956 ) (3,481 ) Interest expense (6,918 ) (8,715 ) (14,557 ) (17,536 ) Loss on extinguishment of debt, net (35,766 ) — (35,864 ) — Other corporate non-operating income 175 47 225 95 $ (47,435 ) $ (13,868 ) $ (61,639 ) $ (32,119 )

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 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: Second Quarter First Six Months 2016 2015 2016 2015 (In thousands) Cash-settled awards $ (494 ) $ (1,447 ) $ 125 $ (1,151 ) Equity-settled awards 625 918 1,104 2,915 Restricted stock 6 (20 ) 12 (3 ) Stock options 199 534 475 1,566 Total share-based compensation 336 (15 ) 1,716 3,327 Deferred cash 76 38 240 154 $ 412 $ 23 $ 1,956 $ 3,481
Share-Based Compensation Expense (Income) Included in Operating Expense	Share-based and long-term incentive compensation expense is included in: Second Quarter First Six Months 2016 2015 2016 2015 (In thousands) General and administrative expense $ 338 $ (276 ) $ 1,844 $ 1,846 Other operating expense 74 299 112 1,635 $ 412 $ 23 $ 1,956 $ 3,481

New and Pending Accounting Pr37

New and Pending Accounting Pronouncements (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred finance costs, net	$ (1,907)	$ (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	Jun. 30, 2016	Dec. 31, 2015
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	$ 419,060	$ 618,844
Less: accumulated depreciation	0	(32,129)
Total Real Estate	419,060	586,715
Entitled, developed and under development projects
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	312,749	352,141
Less: accumulated depreciation	0	0
Net carrying value	312,749	352,141
Undeveloped land (includes land in entitlement)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	87,885	98,181
Less: accumulated depreciation	0	0
Net carrying value	87,885	98,181
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
West Austin
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	5,438	9,097
Less: accumulated depreciation	0	0
Net carrying value	5,438	9,097
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
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
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
Downtown Edge
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	12,988	12,706
Less: accumulated depreciation	0	0
Net carrying value	$ 12,988	$ 12,706

Real Estate - Additional Inform

Real Estate - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)propertyroomcommunity_development_projectmultifamily_site	Mar. 31, 2016USD ($)property	Jun. 30, 2016USD ($)propertyroom	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Real Estate Properties [Line Items]
Non-cash impairment charges			$ 49,438,000	$ 25,764,000
Number of community development projects | community_development_project	5
Number of multifamily sites | multifamily_site	1
Gain on sale of assets			106,658,000	2,014,000
Payment of debt			307,491,000	4,925,000
Reimbursements from utility and improvement districts			(306,000)	$ (7,154,000)
Utility and Improvement District [Member]
Real Estate Properties [Line Items]
Cost of asset in developed and under development projects	$ 69,675,000		69,675,000		$ 67,554,000
Reimbursements from utility and improvement districts			306,000
San Antonio, Texas | Cibolo Canyons Project
Real Estate Properties [Line Items]
Cost of asset in developed and under development projects	23,062,000		23,062,000		$ 22,302,000
Cumulative reimbursable cost associated with real estate projects in development	54,376,000		54,376,000
Return of reimbursements received in relation to direct costs and expenses previously paid or incurred for development of real estate projects	$ 34,703,000		$ 34,703,000
Music Row | Nashville, Tennessee
Real Estate Properties [Line Items]
Real estate property sale price		$ 15,025,000
Gain on sale of assets		3,968,000
Net proceeds		$ 14,703,000
Music Row | Nashville, Tennessee | Multi Family Property
Real Estate Properties [Line Items]
Number of units of multifamily project | property		230
Eleven | Austin, Texas | Multi Family Property
Real Estate Properties [Line Items]
Number of units of multifamily project | property	257		257
Gain on sale of assets			$ 9,116,000
Purchase price of properties sold	$ 60,150,000		$ 60,150,000
Net proceeds	59,719,000
Payment of debt	$ 23,936,000
Dillon | Charlotte, North Carolina | Multi Family Property
Real Estate Properties [Line Items]
Number of units of multifamily project | property	379		379
Gain on sale of assets	$ 1,229,000
Purchase price of properties sold	25,979,000		$ 25,979,000
Net proceeds	25,433,000
Radisson Hotel & Suites, Austin | Austin, Texas
Real Estate Properties [Line Items]
Gain on sale of assets	$ 95,336,000
Number of hotel rooms | room	413		413
Purchase price of properties sold	$ 130,000,000		$ 130,000,000
Net proceeds	128,764,000
Payment of debt	15,400,000
Community Development Project
Real Estate Properties [Line Items]
Non-cash impairment charges	$ 48,826,000

Discontinued Operations (Summar

Discontinued Operations (Summarized Results from Discontinued Operations) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Revenues	$ 1,377	$ 13,805	$ 5,647	$ 24,236
Cost of sales	(1,521)	(69,874)	(6,485)	(81,028)
Other operating expenses	(1,066)	(2,242)	(2,389)	(7,008)
Loss from discontinued operations before income taxes	(1,210)	(58,311)	(3,227)	(63,800)
Gain (loss) on disposal before income taxes	(3,596)	(322)	(14,573)	854
Income tax benefit (expense)	2,758	21,641	7,536	23,234
Loss from discontinued operations, net of taxes	$ (2,048)	$ (36,992)	$ (10,264)	$ (39,712)

Discontinued Operations (Additi

Discontinued Operations (Additional Information) (Detail) $ in Thousands	3 Months Ended
	Jun. 30, 2016USD ($)awell	Mar. 31, 2016USD ($)awell
Discontinued Operations and Disposal Groups [Abstract]
Gain (loss) on disposition of proved property	$ (3,596)	$ (10,977)
Net mineral acres leased from others sold | a	8,100	190,960
Gross producing oil and gas wells sold | well	175	185
Net producing oil and gas wells sold | well	16	66
Proceeds from sale of oil and gas property and equipment	$ 46,986	$ 32,227
Reimbursement of capital costs related to sale of in progress wells		$ 3,269

Discontinued Operations (Assets

Discontinued Operations (Assets and Liabilities of Discontinued Operations) (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Assets of Discontinued Operations:
Receivables, net of allowance for bad debt	$ 1,276	$ 4,632
Oil and gas properties and equipment, net	438	79,733
Goodwill and other intangible assets	0	19,673
Prepaid expenses	31	96
Other assets	100	833
Assets of discontinued operations	1,845	104,967
Liabilities of Discontinued Operations:
Accounts payable	751	342
Accrued property taxes	0	259
Other accrued expenses	1,979	8,924
Other liabilities	386	1,667
Liabilities held for sale	$ 3,116	$ 11,192

Discontinued Operations (Signif

Discontinued Operations (Significant Operating and Investing Activities of Discontinued Operations) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Operating activities:
Asset impairments			$ 49,438	$ 25,764
Dry hole and unproved leasehold impairment charges			0	30,663
Loss (gain) on sale of assets	$ 3,596	$ 322	14,573	(854)
Depreciation, depletion and amortization			7,268	23,360
Cash provided by (used in) operating activities, discontinued operations			17,332	70,001
Investing activities:
Oil and gas properties and equipment			(567)	(40,286)
Proceeds from sales of assets			318,480	2,984
Cash provided by (used in) investing activities, discontinued operations			75,377	(37,762)
Discontinued Operations
Operating activities:
Asset impairments			612	25,035
Dry hole and unproved leasehold impairment charges			0	30,663
Loss (gain) on sale of assets			14,573	(854)
Depreciation, depletion and amortization			2,147	15,157
Investing activities:
Oil and gas properties and equipment			(567)	(40,286)
Proceeds from sales of assets			$ 75,944	$ 2,524

Goodwill and Other Intangible44

Goodwill and Other Intangible Assets - Carrying Value of Goodwill and Other Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 41,774	$ 41,774
Identified intangibles	1,681	1,681
Goodwill and other intangible assets	$ 43,455	$ 43,455

Goodwill and Other Intangible45

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill	$ 41,774	$ 41,774
Credo
Business Acquisition [Line Items]
Goodwill	37,900	37,900
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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			$ 504,115
Consolidated net income (loss)	$ 10,254	$ (34,318)	5,958	$ (42,555)
Distributions to noncontrolling interests			(1,108)
Repurchase of common shares			3,537	$ 0
Other (primarily share-based compensation)			1,602
Ending balance	507,030		507,030
Forestar Group Inc.
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			501,600
Consolidated net income (loss)			5,238
Repurchase of common shares			3,537
Other (primarily share-based compensation)			1,602
Ending balance	504,903		504,903
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			2,515
Consolidated net income (loss)			720
Distributions to noncontrolling interests			(1,108)
Ending balance	$ 2,127		$ 2,127

Equity - Additional Information

Equity - Additional Information (Detail) - Common Stock	3 Months Ended
	Jun. 30, 2016$ / sharesshares
Class of Stock [Line Items]
Stock repurchased during period, shares | shares	283,976
Treasury stock acquired, average cost per share | $ / shares	$ 12.45

Investment in Unconsolidated 48

Investment in Unconsolidated Ventures - Additional Information (Detail) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2016USD ($)property	Jun. 30, 2016USD ($)venture	Jun. 30, 2015USD ($)
Schedule of Equity Method Investments [Line Items]
Gain on sale of assets		$ 106,658	$ 2,014
Investment in unconsolidated ventures		4,658	10,136
Distributions of return on investments and earnings		$ 3,981	$ 7,049
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 49

Investment in Unconsolidated Ventures - Summarized Balance Sheet Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Venture Assets	$ 286,052	$ 309,067
Venture Borrowings	119,823	134,103
Venture Equity	148,831	154,738
Investment in venture	79,730	82,453
242, LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	28,221	26,687
Venture Borrowings	1,649	0
Venture Equity	24,413	24,877
Investment in venture	11,535	11,766
CL Ashton Woods
Schedule of Equity Method Investments [Line Items]
Venture Assets	4,445	7,654
Venture Borrowings	0	0
Venture Equity	3,602	6,084
Investment in venture	1,978	3,615
CL Realty
Schedule of Equity Method Investments [Line Items]
Venture Assets	7,829	7,872
Venture Borrowings	0	0
Venture Equity	7,726	7,662
Investment in venture	3,863	3,831
CREA FMF
Schedule of Equity Method Investments [Line Items]
Venture Assets	56,165	57,820
Venture Borrowings	36,945	50,845
Venture Equity	17,441	4,291
Investment in venture	3,500	3,820
Elan 99, LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	48,248	34,192
Venture Borrowings	29,788	14,587
Venture Equity	14,494	15,838
Investment in venture	13,045	14,255
FOR/SR Forsyth LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	8,249	6,500
Venture Borrowings	0	0
Venture Equity	8,233	6,500
Investment in venture	7,410	5,850
FMF Littleton
Schedule of Equity Method Investments [Line Items]
Venture Assets	68,528	52,376
Venture Borrowings	37,328	22,347
Venture Equity	24,022	24,370
Investment in venture	6,184	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	1,660	2,842
Venture Borrowings	0	0
Venture Equity	1,660	2,842
Investment in venture	693	1,294
LM Land Holdings
Schedule of Equity Method Investments [Line Items]
Venture Assets	27,009	31,984
Venture Borrowings	4,983	7,728
Venture Equity	21,388	22,751
Investment in venture	9,934	9,664
MRECV DT Holdings LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	4,287	4,215
Venture Borrowings	0	0
Venture Equity	4,287	4,215
Investment in venture	3,629	3,807
MRECV Edelweiss LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	2,472	2,237
Venture Borrowings	0	0
Venture Equity	2,466	2,237
Investment in venture	2,471	2,029
MREC VH Juniper Ridge LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	4,179	3,006
Venture Borrowings	0	0
Venture Equity	4,179	3,006
Investment in venture	3,827	2,730
MRECV Meadow Crossing II LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	2,224	728
Venture Borrowings	0	0
Venture Equity	2,224	728
Investment in venture	2,028	655
Miramonte Boulder Pass, LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	13,063	12,627
Venture Borrowings	6,973	5,869
Venture Equity	5,506	5,474
Investment in venture	5,450	5,349
Temco
Schedule of Equity Method Investments [Line Items]
Venture Assets	5,312	5,284
Venture Borrowings	0	0
Venture Equity	5,192	5,113
Investment in venture	2,596	2,557
Other ventures
Schedule of Equity Method Investments [Line Items]
Venture Assets	4,161	4,174
Venture Borrowings	2,157	2,242
Venture Equity	1,998	1,922
Investment in venture	$ 1,587	$ 1,514

Investment in Unconsolidated 50

Investment in Unconsolidated Ventures - Summarized Income Statement Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Schedule of Equity Method Investments [Line Items]
Revenues	$ 6,621	$ 33,774	$ 11,464	$ 50,146
Earnings (loss)	404	10,512	101	15,822
Equity in earnings of unconsolidated ventures	188	5,584	235	8,629
242, LLC
Schedule of Equity Method Investments [Line Items]
Revenues	0	12,368	0	17,699
Earnings (loss)	(164)	4,409	(464)	7,873
Equity in earnings of unconsolidated ventures	(82)	2,279	(232)	4,045
CL Ashton Woods
Schedule of Equity Method Investments [Line Items]
Revenues	993	1,061	1,689	2,411
Earnings (loss)	151	851	518	1,378
Equity in earnings of unconsolidated ventures	324	878	763	1,556
CL Realty
Schedule of Equity Method Investments [Line Items]
Revenues	113	190	246	469
Earnings (loss)	17	83	64	243
Equity in earnings of unconsolidated ventures	8	42	31	122
CREA FMF
Schedule of Equity Method Investments [Line Items]
Revenues	1,081	29	1,982	35
Earnings (loss)	(498)	(103)	(1,069)	(216)
Equity in earnings of unconsolidated ventures	(149)	(103)	(320)	(216)
Elan 99, LLC
Schedule of Equity Method Investments [Line Items]
Revenues	147	0	167	0
Earnings (loss)	(934)	0	(1,344)	(2)
Equity in earnings of unconsolidated ventures	(841)	0	(1,210)	(2)
FOR/SR Forsyth LLC
Schedule of Equity Method Investments [Line Items]
Revenues	0	0	0	0
Earnings (loss)	(17)	0	(17)	0
Equity in earnings of unconsolidated ventures	(15)	0	(15)	0
FMF Littleton
Schedule of Equity Method Investments [Line Items]
Revenues	526	0	847	0
Earnings (loss)	(178)	0	(348)	0
Equity in earnings of unconsolidated ventures	(44)	0	(86)	0
FMF Peakview
Schedule of Equity Method Investments [Line Items]
Revenues	0	466	939	652
Earnings (loss)	0	(252)	(248)	(734)
Equity in earnings of unconsolidated ventures	0	(50)	(50)	(146)
HM Stonewall Estates
Schedule of Equity Method Investments [Line Items]
Revenues	580	611	1,126	1,669
Earnings (loss)	294	297	514	812
Equity in earnings of unconsolidated ventures	124	343	227	573
LM Land Holdings
Schedule of Equity Method Investments [Line Items]
Revenues	2,026	4,321	3,026	6,297
Earnings (loss)	1,415	2,538	2,055	3,788
Equity in earnings of unconsolidated ventures	501	923	645	1,287
MRECV DT Holdings LLC
Schedule of Equity Method Investments [Line Items]
Revenues	119	0	217	0
Earnings (loss)	117	0	215	0
Equity in earnings of unconsolidated ventures	105	0	193	0
MRECV Edelweiss LLC
Schedule of Equity Method Investments [Line Items]
Revenues	94	0	181	0
Earnings (loss)	87	0	174	0
Equity in earnings of unconsolidated ventures	78	0	156	0
MREC VH Juniper Ridge LLC
Schedule of Equity Method Investments [Line Items]
Revenues	202	0	205	0
Earnings (loss)	203	0	206	0
Equity in earnings of unconsolidated ventures	183	0	186	0
MRECV Meadow Crossing II LLC
Schedule of Equity Method Investments [Line Items]
Revenues	29	0	29	0
Earnings (loss)	16	0	(18)	0
Equity in earnings of unconsolidated ventures	14	0	(17)
Miramonte Boulder Pass, LLC
Schedule of Equity Method Investments [Line Items]
Revenues	663	0	663	0
Earnings (loss)	(34)	(49)	(159)	(49)
Equity in earnings of unconsolidated ventures	(17)	(25)	(79)	(25)
PSW Communities
Schedule of Equity Method Investments [Line Items]
Revenues	0	13,642	0	16,069
Earnings (loss)	0	2,333	0	2,528
Equity in earnings of unconsolidated ventures	0	788	0	961
Temco
Schedule of Equity Method Investments [Line Items]
Revenues	48	1,086	147	1,144
Earnings (loss)	12	460	79	459
Equity in earnings of unconsolidated ventures	6	230	40	230
Other ventures
Schedule of Equity Method Investments [Line Items]
Revenues	0	0	0	3,701
Earnings (loss)	(83)	(55)	(57)	(258)
Equity in earnings of unconsolidated ventures	$ (7)	$ 279	$ 3	$ 244

Investment in Unconsolidated 51

Investment in Unconsolidated Ventures - Summarized Income Statement Information additional information (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Long-term debt, current maturities	$ 4,412	$ 39,590
Equity Method Investments | Non-recourse Debt
Schedule of Equity Method Investments [Line Items]
Long-term debt, current maturities	4,412	$ 6,798
242, LLC
Schedule of Equity Method Investments [Line Items]
Unrecognized basis difference on equity method investment	1,496
LM Land Holdings
Schedule of Equity Method Investments [Line Items]
Unrecognized basis difference on equity method investment	$ 181

Receivables - Receivables (Deta

Receivables - Receivables (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 3,499	$ 19,051
Allowance for bad debts	(26)	(26)
Receivables, net	3,473	19,025
Funds held by qualified intermediary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	0	14,703
Receivables and accrued interest
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 1,753	$ 2,218
Notes receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average interest rates	12.52%	11.31%
Total	$ 1,746	$ 2,130

Receivables - Additional Inform

Receivables - Additional Information (Detail) - a	6 Months Ended
	Jun. 30, 2016	Mar. 31, 2016
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 (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 21, 2016	Dec. 31, 2015
Line of Credit Facility [Line Items]
Debt, net	$ 114,185		$ 381,515
Deferred finance costs, net	$ 1,907		$ 8,267
Senior Notes
Line of Credit Facility [Line Items]
Interest rate percentage	8.50%	8.50%	8.50%
Debt, net	$ 5,189		$ 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]
Interest rate percentage	3.75%
Debt, net	$ 102,602		$ 104,719
Secured Debt
Line of Credit Facility [Line Items]
Debt, net	$ 0		$ 15,400
Average interest rate	3.43%		3.42%
Other indebtedness
Line of Credit Facility [Line Items]
Debt, net	$ 1,991		$ 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, net	$ 4,403		$ 8,666
Revolving Credit Facility | Senior Secured Credit Facility
Line of Credit Facility [Line Items]
Average interest rate			4.75%

Debt - Additional Information (

Debt - Additional Information (Detail)	Jun. 21, 2016USD ($)	Jun. 30, 2016USD ($)propertyroom	Mar. 31, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)propertyroom	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Line of Credit Facility [Line Items]
Minimum net worth required for compliance (as a percent)		85.00%			85.00%
Positive net income requirement for net worth compliance (as a percent)		75.00%			75.00%
Payment of debt					$ 307,491,000	$ 4,925,000
Accrued interest		$ 1,585,000			1,585,000		$ 3,267,000
Loss on debt extinguishment, net		35,766,000		$ 0	35,864,000	0
Deferred finance costs, net		1,907,000			1,907,000		8,267,000
Amortization of deferred financing fees					1,877,000	$ 2,016,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity under term Loan facility		300,000,000			$ 300,000,000
Line of credit facility, expiration date					May 15, 2017
Sublimit for letters of credit outstanding		15,321,000			$ 15,321,000
Net unused borrowing capacity		216,187,000			$ 216,187,000
Percentage of spread on federal funds effective rate					0.50%
Minimum net worth required for compliance		$ 379,044,000			$ 379,044,000
Effective leverage ratio (less than)		40.00%			40.00%
Stockholders distribution covenant, interest coverage ratio		3			3
Minimum liquidity required by covenant (less than)					$ 125,000,000
Payments of capital distribution					$ 50,000,000
Percentage from sales of properties and non-core assets (up to)		65.00%			65.00%
Senior Secured Credit Facility
Line of Credit Facility [Line Items]
Deferred finance costs, net		$ 1,761,000			$ 1,761,000		$ 2,768,000
Senior Notes
Line of Credit Facility [Line Items]
Interest rate percentage	8.50%	8.50%			8.50%		8.50%
Principal amount of debt		$ 1,150,000			$ 1,150,000
Extinguishment of debt, amount	$ 215,495,000		$ 8,600,000
Percentage of principal amount redeemed	97.60%
Payment of debt	$ 245,604,000
Unamortized premium	$ 29,091,000
Redemption price, percentage	113.50%		99.00%		99.95%
Accrued interest	$ 1,018,000
Loss on debt extinguishment, net		35,583,000	$ (127,000)
Unamortized debt issuance cost		5,191,000	$ 225,000
Tender offer advisory services		$ 1,301,000
Convertible Debt
Line of Credit Facility [Line Items]
Interest rate percentage		3.75%			3.75%
Extinguishment of debt, amount		$ 5,000,000
Payment of debt		$ 4,452,000
Redemption price, percentage		93.25%
Loss on debt extinguishment, net		$ 183,000
Repurchase price of debt		4,663,000
Equity component within the convertible notes		211,000			$ 211,000
Loss on extinguishment of debt, before write off of deferred debt issuance cost		(110,000)
Letter of Credit | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, letters of credit sublimit		100,000,000			$ 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%
Radisson Hotel & Suites, Austin | Austin, Texas
Line of Credit Facility [Line Items]
Payment of debt		$ 15,400,000
Number of hotel rooms | room		413			413
Purchase price of properties sold		$ 130,000,000			$ 130,000,000
Radisson Hotel & Suites, Austin | Secured Debt | Austin, Texas
Line of Credit Facility [Line Items]
Payment of debt		15,400,000
Eleven | Austin, Texas | Multi Family Property
Line of Credit Facility [Line Items]
Payment of debt		23,936,000
Purchase price of properties sold		$ 60,150,000			$ 60,150,000
Number of units of multifamily project | property		257			257

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) $ in Thousands	3 Months Ended
	Jun. 30, 2016USD ($)community_development_projectmultifamily_site
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of assets held for use	$ 48,826
Number of community development projects | community_development_project	5
Number of multifamily sites | multifamily_site	1
Oil and Gas Properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of assets to be disposed of	$ 612

Fair Value Disclosures, Non-rec

Fair Value Disclosures, Non-recurring (Detail) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Real Estate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	$ 28,476	$ 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	28,476	641
Discontinued Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	538	57,219
Discontinued Operations | 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
Discontinued Operations | 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
Discontinued Operations | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	$ 538	$ 57,219

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	Jun. 30, 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	$ (112,826)	$ (321,653)
Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed rate debt	$ (114,089)	$ (346,090)

Capital Stock - Additional Info

Capital Stock - Additional Information (Detail) - Employees of former affliate - Employee Stock Option	3 Months Ended
	Jun. 30, 2016USD ($)$ / sharesshares
Equity [Line Items]
Options to purchase shares of common stock | shares	241,000
Weighted average exercise price (in dollars per share) | $ / shares	$ 30.30
Exercisable at end of period, weighted average remaining contractual term (less than)	1 year
Aggregate intrinsic value | $	$ 0

Net Income (Loss) per Share - E

Net Income (Loss) per Share - Earnings Attributable to Common Shareholders and Weighted Average Common Shares Outstanding (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Continuing operations
Net income (loss) from continuing operations	$ 12,302	$ 2,674	$ 16,222	$ (2,843)
Less: Net income attributable to noncontrolling interests	(640)	(189)	(720)	(110)
Earnings (loss) available for diluted earnings per share	11,662	2,485	15,502	(2,953)
Less: Undistributed net income from continuing operations allocated to participating securities	2,173	0	2,889	0
Earnings (loss) from continuing operations available to common shareholders for basic earnings per share	9,489	2,485	12,613	(2,953)
Discontinued operations
Loss from discontinued operations, net of taxes	(2,048)	(36,992)	(10,264)	(39,712)
Less: Undistributed net income from discontinued operations allocated to participating securities	382	0	1,913	0
Earnings (loss) from discontinued operations available to common shareholders for basic earnings per share	$ (1,666)	$ (36,992)	$ (8,351)	$ (39,712)
Denominator:
Weighted average common shares outstanding — basic	34,302	34,278	34,302	34,223
Weighted average common shares upon conversion of participating securities	7,857	7,857	7,857	0
Dilutive effect of stock options, restricted stock and equity-settled awards	264	193	213	0
Total weighted average shares outstanding — diluted	42,423	42,328	42,372	34,223
Anti-dilutive awards excluded from diluted weighted average shares (in shares)	1,987	2,779	2,218	10,786

Net Income (Loss) per Share - A

Net Income (Loss) per Share - Additional Information (Detail)	6 Months Ended
	Jun. 30, 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 (in shares)	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 (in shares)	7,857,000
Six Percent Tangible Equity Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Average interest rate	6.00%	6.00%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Effective income tax rate reconciliation, percent	55.00%	25.00%	51.00%	40.00%
Benefit due to change in valuation allowance (as a percent)			18.00%
Benefit for noncontrolling interests (as a percent)				4.00%
Detriment for share-based compensation benefits that will not be realized (as a percent)				7.00%
Valuation allowance, deferred tax asset, amount	$ 97,041		$ 97,041		$ 97,068

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 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	$ 117
Cost to complete remediation activities	651
Asset retirement obligation	486	$ 1,758
Restructuring charges	2,868
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	$ 386	$ 1,667

Commitments and Contingencies64

Commitments and Contingencies - (Non-Core Assets Restructuring Costs) (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
Restructuring Reserve [Roll Forward]
Restructuring Reserve	$ (1,049)
Restructuring charges	(2,868)
Payments for restructuring	3,741
Restructuring Reserve	(176)
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	(796)
Payments for restructuring	620
Restructuring Reserve	$ (176)

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended	6 Months Ended
	Jun. 30, 2016Customer	Jun. 30, 2016segment
Segment Reporting [Abstract]
Number of business segments | segment		3
Number of customer who contributed more than 10 percent of revenue | Customer	0
Percentage of revenue from customer (not more than)	10.00%

Segment Information - Assets Al

Segment Information - Assets Allocated by Segment (Detail) - USD ($) $ in Thousands		Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Total Assets		$ 681,833	$ 972,246
Cash and cash equivalents		107,421	96,442	$ 98,761	$ 170,127
Income taxes receivable		3,228	12,056
Continuing Operations | Operating Segments | Real estate
Segment Reporting Information [Line Items]
Total Assets		504,552	691,238
Continuing Operations | Operating Segments | Mineral resources
Segment Reporting Information [Line Items]
Total Assets		39,182	39,469
Continuing Operations | Operating Segments | Other
Segment Reporting Information [Line Items]
Total Assets		18,483	19,106
Continuing Operations | Items not allocated to segments
Segment Reporting Information [Line Items]
Total Assets	[1]	117,771	117,466
Discontinued Operations
Segment Reporting Information [Line Items]
Total Assets	[1]	$ 1,845	$ 104,967
[1]	Assets not allocated to segments at second quarter-end 2016 principally consist of cash and cash equivalents of $107,421,000 and an income tax receivable of $3,228,000. 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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Total revenues	$ 47,992	$ 43,625	$ 85,610	$ 80,999
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	26,591	3,382	32,583	(4,822)
General and administrative expense	(4,852)	(4,901)	(11,331)	(13,043)
Interest expense	(6,918)	(8,715)	(14,557)	(17,536)
Loss on extinguishment of debt, net	(35,766)	0	(35,864)	0
Other corporate non-operating income	199	783	371	1,700
Segment Earnings
Segment Reporting Information [Line Items]
Total revenues	47,992	43,625	85,610	80,999
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	74,026	17,250	94,222	27,297
Segment Earnings | Real estate
Segment Reporting Information [Line Items]
Total revenues	46,381	39,409	82,479	72,239
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	73,290	15,527	93,514	24,593
Segment Earnings | Mineral resources
Segment Reporting Information [Line Items]
Total revenues	1,337	2,360	2,419	5,114
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	933	1,766	1,486	3,138
Segment Earnings | Other
Segment Reporting Information [Line Items]
Total revenues	274	1,856	712	3,646
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	(197)	(43)	(778)	(434)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	(47,435)	(13,868)	(61,639)	(32,119)
General and administrative expense	(4,514)	(5,177)	(9,487)	(11,197)
Shared-based and long-term incentive compensation expense	(412)	(23)	(1,956)	(3,481)
Interest expense	(6,918)	(8,715)	(14,557)	(17,536)
Loss on extinguishment of debt, net	(35,766)	0	(35,864)	0
Other corporate non-operating income	$ 175	$ 47	$ 225	$ 95

Variable Interest Entities - Ad

Variable Interest Entities - Additional Information (Detail) - Variable Interest Entity, Not Primary Beneficiary $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)Entity
Variable Interest Entity [Line Items]
Number of primary beneficiary | Entity	1
Total assets of developed and under developed real estate	$ 4,157
Total liabilities of developed and under developed real estate	2,163
Investment in VIEs	1,584
Contributed to VIE	78
Maximum exposure to loss related to VIEs	3,747
Current Maturities of Borrowings
Variable Interest Entity [Line Items]
Total liabilities of developed and under developed real estate	$ 0

Share Based Compensation - Comp

Share Based Compensation - Components of Share-Based Compensation Expense (Income) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	$ 336	$ (15)	$ 1,716	$ 3,327
Compensation expense	76	38	240	154
Share based and Long Term Incentive Compensation	412	23	1,956	3,481
Cash Settled Awards
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	(494)	(1,447)	125	(1,151)
Equity-settled awards
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	625	918	1,104	2,915
Restricted Stock
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	6	(20)	12	(3)
Employee Stock Option
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	199	534	475	1,566
General and Administrative Expense
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Share based and Long Term Incentive Compensation	338	(276)	1,844	1,846
Other Operating Expenses
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Share based and Long Term Incentive Compensation	$ 74	$ 299	$ 112	$ 1,635

Share Based Compensation - Shar

Share Based Compensation - Share Based Compensation Expense (Income) Included in Operating Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share based and Long Term Incentive Compensation	$ 412	$ 23	$ 1,956	$ 3,481
General and administrative expense
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share based and Long Term Incentive Compensation	338	(276)	1,844	1,846
Other Operating Expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share based and Long Term Incentive Compensation	$ 74	$ 299	$ 112	$ 1,635

Share Based Compensation - Addi

Share Based Compensation - Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)shares	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)directorshares	Jun. 30, 2015USD ($)shares	Dec. 31, 2015USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense | $	$ 76	$ 38	$ 240	$ 154
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 | $	3,178		$ 3,178
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 | $	$ 163	229	$ 428	514
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		6,500
Board of Directors | Second anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting, number (in shares)	6,500		6,500
Board of Directors | Third anniversary
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting, number (in shares)	7,000		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	$ 620	$ 587
Deferred compensation arrangement with individual, service period (in years)			2 years	3 years
Deferred compensation cash-based arrangements, liability, current and noncurrent | $	$ 395		$ 395		$ 225