Forestar (FOR) 10-Q 9 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 03, 2016
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
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		33,722,230

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 122,130	$ 96,442
Real estate, net	387,074	586,715
Assets of discontinued operations	124	104,967
Assets held for sale	14,394	0
Investment in unconsolidated ventures	79,564	82,453
Timber	6,629	7,683
Receivables, net	1,300	19,025
Income taxes receivable	23,068	12,056
Prepaid expenses	1,606	3,116
Property and equipment, net	9,686	10,732
Goodwill and other intangible assets	43,455	43,455
Other assets	3,047	5,602
TOTAL ASSETS	692,077	972,246
LIABILITIES AND EQUITY
Accounts payable	6,535	11,617
Accrued employee compensation and benefits	4,360	5,547
Accrued property taxes	4,197	4,529
Accrued interest	569	3,267
Deferred tax liability, net	1,021	1,037
Earnest money deposits	11,370	10,214
Other accrued expenses	10,488	14,556
Liabilities of discontinued operations	3,637	11,192
Other liabilities	20,372	24,657
Debt, net	112,348	381,515
TOTAL LIABILITIES	174,897	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 third quarter-end 2016 and year-end 2015	36,947	36,947
Additional paid-in capital	560,248	561,850
Accumulated deficit	(31,143)	(46,046)
Treasury stock, at cost, 3,224,373 shares at third quarter-end 2016 and 3,203,768 shares at year-end 2015	(50,339)	(51,151)
Total Forestar Group Inc. shareholders’ equity	515,713	501,600
Noncontrolling interests	1,467	2,515
TOTAL EQUITY	517,180	504,115
TOTAL LIABILITIES AND EQUITY	$ 692,077	$ 972,246

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 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)	3,224,373	3,203,768

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
REVENUES
Real estate sales and other	$ 45,285	$ 18,369	$ 114,711	$ 68,630
Commercial and income producing properties	12	9,588	13,065	31,566
Real estate	45,297	27,957	127,776	100,196
Mineral resources	1,423	2,502	3,842	7,616
Other	487	1,726	1,199	5,372
Total revenues	47,207	32,185	132,817	113,184
COSTS AND EXPENSES
Cost of real estate sales and other	(24,884)	(9,588)	(105,023)	(33,840)
Cost of commercial and income producing properties	(4,375)	(6,780)	(15,326)	(22,020)
Cost of mineral resources	(182)	(2,119)	(572)	(2,774)
Cost of other	(363)	(819)	(867)	(2,599)
Other operating expenses	(6,471)	(12,319)	(26,879)	(37,013)
General and administrative	(5,177)	(9,467)	(16,508)	(22,510)
Total expenses	(41,452)	(41,092)	(165,175)	(120,756)
GAIN ON SALE OF ASSETS	501	425	121,732	1,585
OPERATING INCOME (LOSS)	6,256	(8,482)	89,374	(5,987)
Equity in earnings of unconsolidated ventures	3,637	2,909	3,872	11,538
Interest expense	(3,369)	(8,315)	(17,926)	(25,851)
Loss on extinguishment of debt, net	0	0	(35,864)	0
Other non-operating income	1,249	62	1,620	1,762
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES	7,773	(13,826)	41,076	(18,538)
Income tax benefit (expense)	9,666	(43,568)	(7,415)	(41,699)
NET INCOME (LOSS) FROM CONTINUING OPERATIONS	17,439	(57,394)	33,661	(60,237)
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAXES	(7,164)	(106,937)	(17,428)	(146,649)
CONSOLIDATED NET INCOME (LOSS)	10,275	(164,331)	16,233	(206,886)
Less: Net (income) loss attributable to noncontrolling interests	(610)	115	(1,330)	5
NET INCOME (LOSS) ATTRIBUTABLE TO FORESTAR GROUP INC.	$ 9,665	$ (164,216)	$ 14,903	$ (206,881)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)	34,099	34,299	34,234	34,248
Diluted (in shares)	42,260	34,299	42,334	34,248
NET INCOME (LOSS) PER BASIC SHARE
Continuing operations, basic (usd per share)	$ 0.40	$ (1.67)	$ 0.77	$ (1.76)
Discontinued operations, basic (usd per share)	(0.17)	(3.12)	(0.42)	(4.28)
NET INCOME (LOSS) PER BASIC SHARE (usd per share)	0.23	(4.79)	0.35	(6.04)
NET INCOME (LOSS) PER DILUTED SHARE
Continuing operations, diluted (usd per share)	0.40	(1.67)	0.76	(1.76)
Discontinued operation, diluted (usd per share)	(0.17)	(3.12)	(0.41)	(4.28)
NET INCOME (LOSS) PER DILUTED SHARE (usd per share)	$ 0.23	$ (4.79)	$ 0.35	$ (6.04)
TOTAL COMPREHENSIVE INCOME (LOSS)	$ 9,665	$ (164,216)	$ 14,903	$ (206,881)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net income (loss)	$ 16,233	$ (206,886)
Adjustments:
Depreciation, depletion and amortization	9,885	36,780
Change in deferred income taxes	(16)	39,106
Equity in earnings of unconsolidated ventures	(3,872)	(11,538)
Distributions of earnings of unconsolidated ventures	4,793	7,343
Share-based compensation	2,665	5,531
Real estate cost of sales	56,817	33,575
Dry hole and unproved leasehold impairment charges	0	46,722
Real estate development and acquisition expenditures, net	(56,552)	(81,055)
Reimbursements from utility and improvement districts	13,698	8,285
Asset impairments	57,065	91,146
Loss on debt extinguishment, net	35,864	0
Gain on sale of assets	(108,114)	(265)
Other	3,639	2,390
Changes in:
Notes and accounts receivable	20,734	9,395
Prepaid expenses and other	1,536	3,106
Accounts payable and other accrued liabilities	(13,556)	(2,300)
Income taxes	(11,012)	3,625
Net cash provided by (used for) operating activities	29,807	(15,040)
CASH FLOWS FROM INVESTING ACTIVITIES:
Property, equipment, software, reforestation and other	(5,902)	(10,882)
Oil and gas properties and equipment	(579)	(47,043)
Investment in unconsolidated ventures	(5,615)	(23,908)
Proceeds from sales of assets	319,351	13,571
Return of investment in unconsolidated ventures	3,948	7,783
Net cash provided by (used for) investing activities	311,203	(60,479)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments of debt	(311,724)	(7,527)
Additions to debt	2,749	7,105
Distributions to noncontrolling interests, net	(2,378)	(703)
Repurchases of common stock	(3,537)	0
Payroll taxes on issuance of stock-based awards	(221)	(722)
Other	(211)	(121)
Net cash used for financing activities	(315,322)	(1,968)
Net increase (decrease) in cash and cash equivalents	25,688	(77,487)
Cash and cash equivalents at beginning of period	96,442	170,127
Cash and cash equivalents at end of period	$ 122,130	$ 92,640

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 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 ("U.S. GAAP") 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 third quarter-end 2016, we have divested substantially all of our oil and gas working interest properties. 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	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
New and Pending Accounting Pronouncements	New and Pending Accounting Pronouncements Adoption of New Accounting Standards In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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 our consolidated financial statements. Pending Accounting Standards In May 2014, the FASB issued 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, 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. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) , in order to address eight specific cash flow issues with the objective of reducing the existing diversity in practice. The updated standard is effective for financial statements issued for annual periods beginning after December 15, 2017 and interim periods within those fiscal years with early adoption permitted. We are currently evaluating the effect that the updated standard will have on our earnings, financial position and disclosures.

Real Estate

Real Estate	9 Months Ended
	Sep. 30, 2016
Real Estate [Abstract]
Real Estate	Real Estate Real estate consists of: Third 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 $ 293,356 $ — $ 293,356 $ 352,141 $ — $ 352,141 Timberland and undeveloped land (includes land in entitlement) 93,718 — 93,718 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 (b) — — — 12,706 — 12,706 West Austin multifamily site (b) — — — 9,097 — 9,097 $ 387,074 $ — $ 387,074 $ 618,844 $ (32,129 ) $ 586,715 ___________________ (a) Sold in 2016. (b) Classified as assets held for sale at third quarter-end 2016. At third quarter-end 2016, Downtown Edge and West Austin, two multifamily sites in Austin, were classified as held for sale at a net carrying amount of $14,394,000 . In first nine months 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 and 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 third quarter and first nine months 2016, we recognized non-cash impairment charges of $7,627,000 and $56,453,000 related to six non-core community development projects and two multifamily sites. 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 $54,290,000 at third quarter-end 2016 and $67,554,000 at year-end 2015 , including $22,361,000 at third quarter-end 2016 and $22,302,000 at year-end 2015 related to our Cibolo Canyons project near San Antonio, Texas. In first nine months 2016 , we have collected $13,197,000 in reimbursements that were previously submitted to these districts. At third 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 $36,109,000 . 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	9 Months Ended
	Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations At third quarter-end 2016, we have divested substantially all of our oil and gas working interest properties. 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: Third Quarter First Nine Months 2016 2015 2016 2015 (In thousands) Revenues $ 180 $ 10,983 $ 5,827 $ 35,219 Cost of sales (108 ) (93,434 ) (6,593 ) (174,462 ) Other operating expenses (3,318 ) (1,644 ) (5,707 ) (8,652 ) Loss from discontinued operations before income taxes $ (3,246 ) $ (84,095 ) $ (6,473 ) $ (147,895 ) Gain (loss) on sale of assets before income taxes 955 (2,174 ) (13,618 ) (1,320 ) Income tax benefit (expense) (4,873 ) (20,668 ) 2,663 2,566 Loss from discontinued operations, net of taxes $ (7,164 ) $ (106,937 ) $ (17,428 ) $ (146,649 ) In first nine months 2016, we recorded a net loss of $13,618,000 on the sale of 199,263 net mineral acres leased from others and 379 gross ( 95 net) producing oil and gas working interest wells in Nebraska, Kansas, Oklahoma and North Dakota for total net proceeds of $80,084,000 , which includes $3,269,000 in reimbursement of capital costs incurred on in-progress wells that were assumed by the buyer. Other operating expenses in third quarter 2016 include loss contingency charges of $1,100,000 related to the Huffman litigation and $1,155,000 related to potential environmental liabilities to plug and abandon certain oil and gas wells in Wyoming. Please read Note 14—Commitments and Contingencies for additional information about these items. In third quarter and first nine months 2015, cost of sales includes non-cash impairment charges of $79,438,000 and $125,383,000 . The major classes of assets and liabilities of discontinued operations at third quarter-end 2016 and year-end 2015 are as follows: Third Year-End 2016 2015 (In thousands) Assets of Discontinued Operations: Receivables, net of allowance for bad debt $ 116 $ 4,632 Oil and gas properties and equipment, net — 79,733 Goodwill and other intangible assets — 19,673 Prepaid expenses 8 96 Other assets — 833 $ 124 $ 104,967 Liabilities of Discontinued Operations: Accounts payable $ 91 $ 342 Accrued property taxes — 259 Other accrued expenses 3,546 8,924 Other liabilities — 1,667 $ 3,637 $ 11,192 Significant operating activities and investing activities of discontinued operations are as follows: First Nine Months 2016 2015 (In thousands) Operating activities: Asset impairments $ 612 $ 88,614 Dry hole and unproved leasehold impairment charges — 46,722 Loss (gain) on sale of assets 13,618 1,320 Depreciation, depletion and amortization 2,202 24,254 $ 16,432 $ 160,910 Investing activities: Oil and gas properties and equipment $ (579 ) $ (47,043 ) Proceeds from sales of assets 76,815 13,111 $ 76,236 $ (33,932 )

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 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: Third 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 third quarter-end 2016 and year-end 2015 . Goodwill associated with our water resources initiatives was $3,874,000 at third 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	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Equity	Equity A reconciliation of changes in equity through third 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) 14,903 1,330 16,233 Distributions to noncontrolling interests — (2,378 ) (2,378 ) Repurchase of common shares (3,537 ) — (3,537 ) Other (primarily share-based compensation) 2,747 — 2,747 $ 515,713 $ 1,467 $ 517,180 In first nine months 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	9 Months Ended
	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Investment in Unconsolidated Ventures	Investment in Unconsolidated Ventures 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. U.S. GAAP requires 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 a venture is a VIE and 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 reassess upon reconsideration events. At third quarter-end 2016 , we had ownership interests in 17 ventures that we accounted for using the equity method, of which no ne are a VIE. In first nine months 2016, we sold our interest in FMF Peakview LLC (360 0 ), a 304 -unit multifamily joint venture near Denver, generating $13,917,000 in net proceeds and recognized a gain of $10,363,000 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 Third Year-End Third Year-End Third Year-End Third Year-End 2016 2015 2016 2015 2016 2015 2016 2015 (In thousands) 242, LLC (b) $ 27,110 $ 26,687 $ 3,182 $ — $ 21,428 $ 24,877 $ 10,048 $ 11,766 CL Ashton Woods, LLC (c) 4,426 7,654 — — 3,685 6,084 2,107 3,615 CL Realty, LLC 7,913 7,872 — — 7,798 7,662 3,899 3,831 CREA FMF Nashville LLC (b) 56,117 57,820 37,192 50,845 17,297 4,291 4,984 3,820 Elan 99, LLC 49,671 34,192 32,461 14,587 13,628 15,838 12,265 14,255 FOR/SR Forsyth LLC 9,584 6,500 — — 9,016 6,500 8,115 5,850 FMF Littleton LLC 70,704 52,376 42,083 22,347 23,838 24,370 6,138 6,270 FMF Peakview LLC — 48,869 — 30,485 — 16,828 — 3,447 HM Stonewall Estates, Ltd (c) 814 2,842 — — 814 2,842 814 1,294 LM Land Holdings, LP (c) 29,350 31,984 4,481 7,728 23,762 22,751 10,770 9,664 MRECV DT Holdings LLC 4,039 4,215 — — 4,039 4,215 3,635 3,807 MRECV Edelweiss LLC 2,816 2,237 — — 2,816 2,237 2,764 2,029 MRECV Juniper Ridge LLC 4,403 3,006 — — 4,403 3,006 3,882 2,730 MRECV Meadow Crossing II LLC 2,366 728 — — 2,366 728 2,129 655 Miramonte Boulder Pass, LLC 12,783 12,627 6,660 5,869 5,380 5,474 5,387 5,349 Temco Associates, LLC 5,357 5,284 — — 5,225 5,113 2,612 2,557 Other ventures 26 4,174 — 2,242 26 1,922 15 1,514 $ 287,479 $ 309,067 $ 126,059 $ 134,103 $ 145,521 $ 154,738 $ 79,564 $ 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) Third Quarter First Nine Months Third Quarter First Nine Months Third Quarter First Nine Months 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 (In thousands) 242, LLC (b) $ 937 $ 2,884 $ 937 $ 20,583 $ 15 $ 1,161 $ (449 ) $ 9,034 $ 14 $ 597 $ (218 ) $ 4,642 CL Ashton Woods, LP (c) 288 3,958 1,977 6,369 83 1,341 601 2,719 129 1,849 892 3,405 CL Realty, LLC 140 205 386 674 72 103 136 346 37 52 68 174 CREA FMF Nashville LLC (b) (d) 1,291 442 3,273 477 (145 ) (991 ) (1,214 ) (1,207 ) 1,484 (991 ) 1,164 (1,207 ) Elan 99, LLC 461 — 628 — (867 ) — (2,211 ) (2 ) (779 ) — (1,989 ) (2 ) FMF Littleton LLC 944 6 1,791 6 (183 ) (152 ) (531 ) (152 ) (47 ) (38 ) (133 ) (38 ) FMF Peakview LLC — 628 939 1,280 — (286 ) (248 ) (1,020 ) — (58 ) (50 ) (204 ) FOR/SR Forsyth LLC — — — — (21 ) — (38 ) — (19 ) — (34 ) — HM Stonewall Estates, Ltd (c) 822 921 1,948 2,590 280 480 794 1,292 120 157 347 730 LM Land Holdings, LP (c) 3,505 1,857 6,531 8,154 2,502 1,391 4,557 5,179 836 423 1,481 1,710 MRECV DT Holdings LLC 162 — 379 — 157 167 372 167 141 — 334 — MRECV Edelweiss LLC 106 — 287 — 106 125 280 125 96 65 252 65 MRECV Juniper Ridge LLC 151 — 356 — 151 105 357 105 135 — 321 — MRECV Meadow Crossing II LLC 112 — 141 — 112 — 94 — 101 — 84 — Miramonte Boulder Pass, LLC 1,015 — 1,678 — (126 ) (92 ) (285 ) (141 ) (63 ) (46 ) (142 ) (71 ) PSW Communities, LP — 5,145 — 21,214 — 613 — 3,141 — 127 — 1,088 Temco Associates, LLC 77 8,019 224 9,163 32 1,618 111 2,077 16 809 56 1,039 Other ventures 6,520 71 6,520 3,772 2,166 242 2,109 (16 ) 1,436 (37 ) 1,439 207 $ 16,531 $ 24,136 $ 27,995 $ 74,282 $ 4,334 $ 5,825 $ 4,435 $ 21,647 $ 3,637 $ 2,909 $ 3,872 $ 11,538 _____________________ (a) Total includes current maturities of $88,249,000 at third quarter-end 2016 , of which $68,430,000 is non-recourse to us, and $39,590,000 at year-end 2015 , of which $29,691,000 is non-recourse to us. (b) Includes unamortized deferred gains on real estate we contributed to ventures. We recognize deferred gains as income as the real estate is sold to third parties. Deferred gains of $1,490,000 are reflected as a reduction to our investment in unconsolidated ventures at third quarter-end 2016 . (c) Includes unrecognized basis difference of $122,000 which is reflected as an increase of our investment in unconsolidated ventures at third 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 share of venture earnings in third quarter and first nine months 2016 includes reallocation of prior year cumulative losses incurred by the venture as a result of equity contribution by the venture partner in 2016. In first nine months 2016 , we invested $5,615,000 in these ventures and received $8,741,000 in distributions. In first nine months 2015 , we invested $23,908,000 in these ventures and received $15,126,000 in distributions. Distributions include both return of investments and distribution of earnings.

Receivables

Receivables	9 Months Ended
	Sep. 30, 2016
Receivables [Abstract]
Receivables	Receivables Receivables consist of: Third Year-End 2016 2015 (In thousands) Funds held by qualified intermediary for potential 1031 like-kind exchange $ — $ 14,703 Other receivables and accrued interest 561 2,218 Other loans secured by real estate, average interest rates of 12.91% at third quarter-end 2016 and 11.31% at year-end 2015 764 2,130 1,325 19,051 Allowance for bad debts (25 ) (26 ) $ 1,300 $ 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, net

Debt, net	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt, net	Debt, net Debt (a) consists of: Third Year-End 2016 2015 (In thousands) 8.50% senior secured notes due 2022, net $ 5,195 $ 224,647 3.75% convertible senior notes due 2020, net of discount 103,637 104,719 6.00% tangible equity unit notes, net 2,219 8,666 Secured promissory note — average interest rate of 3.42% at year-end 2015 — 15,400 Other indebtedness — interest rates ranging from 5.0% to 5.50% 1,297 28,083 $ 112,348 $ 381,515 ___________________ (a) At third quarter-end 2016 and year-end 2015 , $1,768,000 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 third quarter-end 2016 , we were in compliance with the financial covenants of these agreements. Effective September 2, 2016, we reduced the revolving commitment provided by our senior secured credit facility, which matures on May 15, 2017 (with two one -year extension options), from $300,000,000 to $125,000,000 , none of which was drawn at third quarter-end 2016. As a result of this reduction, we expensed $831,000 in unamortized debt issuance costs in third quarter 2016. 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 $13,679,000 was outstanding at third 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 third quarter-end 2016 , we had $111,321,000 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 third 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 third 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. In second quarter 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 the 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 the 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 due 2020 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 third quarter-end 2016 and year-end 2015 , we had $1,768,000 and $8,267,000 in unamortized deferred financing fees which were deducted from our debt. In addition, at third quarter-end 2016 and year-end 2015, unamortized deferred financing fees related to our senior secured credit facility included in other assets were $524,000 and $2,768,000 . Amortization of deferred financing fees were $3,253,000 and $2,992,000 in first nine months 2016 and 2015 and were included in interest expense.

Fair Value

Fair Value	9 Months Ended
	Sep. 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 first nine months 2016, we recognized non-cash impairment charges of $56,453,000 related to six non-core community development projects and two multifamily sites as a result of the review of our entire portfolio of assets and marketing these properties for sale. We based our valuations primarily on executed purchase and sale agreements, current negotiations and letters of intent with expected buyers and third party broker price opinions. In second quarter 2016, we recognized non-cash impairment charges of $612,000 related to oil and gas working interests properties that were sold in third quarter 2016. Non-financial assets measured at fair value on a non-recurring basis are as follows: Third 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 $ — $ — $ 36,243 $ 36,243 $ — $ — $ 641 $ 641 Assets of discontinued operations $ — $ — $ — $ — $ — $ — $ 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: Third Quarter-End 2016 Year-End 2015 Carrying Amount Fair Value Carrying Amount Fair Value Valuation Technique (In thousands) Fixed rate debt $ (112,810 ) $ (112,455 ) $ (346,090 ) $ (321,653 ) Level 2

Capital Stock

Capital Stock	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Capital Stock	Capital Stock Please read Note 16—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 third 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 third quarter-end 2016 , the options had an aggregate intrinsic value of $0 .

Net Income (Loss) per Share

Net Income (Loss) per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Net Income (Loss) 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 third quarter and first nine 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: Third Quarter First Nine Months 2016 2015 2016 2015 (In thousands) Numerator: Continuing operations Net income (loss) from continuing operations $ 17,439 $ (57,394 ) $ 33,661 $ (60,237 ) Less: Net (income) loss attributable to noncontrolling interest (610 ) 115 (1,330 ) 5 Earnings (loss) available for diluted earnings per share $ 16,829 $ (57,279 ) $ 32,331 $ (60,232 ) Less: Undistributed net income from continuing operations allocated to participating securities (3,152 ) — (6,035 ) — Earnings (loss) from continuing operations available to common shareholders for basic earnings per share $ 13,677 $ (57,279 ) $ 26,296 $ (60,232 ) Discontinued operations Net income (loss) from discontinued operations available for diluted earnings per share $ (7,164 ) $ (106,937 ) $ (17,428 ) $ (146,649 ) Less: Undistributed net income from discontinued operations allocated to participating securities 1,342 — 3,253 — Earnings (loss) from discontinued operations available to common shareholders for basic earnings per share $ (5,822 ) $ (106,937 ) $ (14,175 ) $ (146,649 ) Denominator: Weighted average common shares outstanding — basic 34,099 34,299 34,234 34,248 Weighted average common shares upon conversion of participating securities 7,857 — 7,857 — Dilutive effect of stock options, restricted stock and equity-settled awards 304 — 243 — Total weighted average shares outstanding — diluted 42,260 34,299 42,334 34,248 Anti-dilutive awards excluded from diluted weighted average shares 2,001 10,933 2,146 10,835 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 such units. We intend to settle the remaining principal amount of our 3.75% convertible senior notes due 2020 (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 third quarter 2016 did not exceed the conversion price which resulted in no additional diluted outstanding shares.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate from continuing operations was a tax benefit of 124 percent in third quarter 2016, and a tax expense of 18 percent for the first nine months 2016. The year to date tax expense of 18 percent differs from the statutory rate of 35 percent primarily due to a benefit for decrease in our valuation allowance related to decrease in our deferred tax assets. Our effective tax rate from continuing operations was 315 percent in third quarter 2015 and 225 percent in first nine months 2015, which was attributable almost entirely to a valuation allowance recorded against our net deferred tax asset. 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. We assessed available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit recognition of the existing deferred tax assets under U.S. GAAP. A significant piece of objective evidence evaluated was the cumulative loss incurred over the three-year period ended September 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. On the basis of this evaluation, at third quarter-end 2016 and year-end 2015 , we have a valuation allowance for our deferred tax assets of $88,773,000 and $97,068,000 for the portion of the deferred tax assets that we have determined is more likely than not to be unrealizable under U.S. GAAP. 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	9 Months Ended
	Sep. 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, Civ. Div., Dist. Ct., City and County of Denver, Colorado. Huffman claimed entitlement under a Credo employee compensation program to overriding royalty interests (ORRI) on nearly all North Dakota leases, none of which were assigned by Credo to Huffman prior to his retirement, and on several Kansas and Nebraska leases. On August 11, 2016, we agreed to pay Huffman $150,000 in settlement of all claims except those involving North Dakota assets. Following a jury trial, on September 23, 2016, an adverse verdict was received in the amount of $923,899 for breach of contract related to the North Dakota claims. At third quarter-end 2016, we have accrued $1,100,000 for damages, prejudgment interest and costs. We intend to contest the verdict, and judgment has not been entered by the court because non-jury claims by both parties remain outstanding. The remaining claims have not been adjudicated and we are unable to conclude whether loss on these claims is probable or remote. We are unable to estimate a possible loss or range of loss on the remaining claims because (a) the parties have not fully briefed their positions or applicable law, (b) Huffman did not seek monetary damages in his trial pleadings, and (c) our claim for unjust enrichment would result, if we prevail, in reduction or elimination of damages already accrued and no additional damages. Environmental 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 third quarter-end 2016 and year-end 2015 , our estimated asset retirement obligation was $1,256,000 and $1,758,000 , of which $1,155,000 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 divest non-core assets, in first nine 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 nine months 2016: Severance Costs Retention Bonuses Total (In thousands) Balance at year-end 2015 $ (1,049 ) $ — $ (1,049 ) Additions (2,072 ) (832 ) (2,904 ) Payments 3,121 792 3,913 Balance at third quarter-end 2016 $ — $ (40 ) $ (40 )

Segment Information

Segment Information	9 Months Ended
	Sep. 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: Third Year-End 2016 2015 (In thousands) Real estate $ 484,426 $ 691,238 Mineral resources 39,140 39,469 Other 20,422 19,106 Assets of discontinued operations 124 104,967 Assets not allocated to segments (a) 147,965 117,466 $ 692,077 $ 972,246 _________________________ (a) Assets not allocated to segments at third quarter-end 2016 principally consist of cash and cash equivalents of $122,130,000 and an income tax receivable of $23,068,000 . 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 divesting. 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 third quarter 2016 , no single customer accounted for more than ten percent of our total revenues. Segment revenues and earnings are as follows: Third Quarter First Nine Months 2016 2015 2016 2015 (In thousands) Revenues: Real estate $ 45,297 $ 27,957 $ 127,776 $ 100,196 Mineral resources 1,423 2,502 3,842 7,616 Other 487 1,726 1,199 5,372 Total revenues $ 47,207 $ 32,185 $ 132,817 $ 113,184 Segment earnings (loss): Real estate $ 15,017 $ 5,154 $ 108,531 $ 29,747 Mineral resources 1,182 77 2,668 3,215 Other (196 ) (77 ) (974 ) (511 ) Total segment earnings 16,003 5,154 110,225 32,451 Items not allocated to segments (a) (8,840 ) (18,865 ) (70,479 ) (50,984 ) Income (loss) from continuing operations before taxes attributable to Forestar Group Inc. $ 7,163 $ (13,711 ) $ 39,746 $ (18,533 ) _________________________ (a) Items not allocated to segments consist of: Third Quarter First Nine Months 2016 2015 2016 2015 (In thousands) General and administrative expense $ (4,505 ) $ (8,343 ) $ (13,992 ) $ (19,540 ) Shared-based and long-term incentive compensation expense (1,024 ) (2,245 ) (2,980 ) (5,726 ) Interest expense (3,369 ) (8,315 ) (17,926 ) (25,851 ) Loss on extinguishment of debt, net — — (35,864 ) — Other corporate non-operating income 58 38 283 133 $ (8,840 ) $ (18,865 ) $ (70,479 ) $ (50,984 )

Share-Based and Long-Term Incen

Share-Based and Long-Term Incentive Compensation	9 Months Ended
	Sep. 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: Third Quarter First Nine Months 2016 2015 2016 2015 (In thousands) Cash-settled awards $ (43 ) $ 146 $ 82 $ (1,005 ) Equity-settled awards 765 1,654 1,869 4,569 Restricted stock 10 16 22 13 Stock options 217 388 692 1,954 Total share-based compensation 949 2,204 2,665 5,531 Deferred cash 75 41 315 195 $ 1,024 $ 2,245 $ 2,980 $ 5,726 Share-based and long-term incentive compensation expense is included in: Third Quarter First Nine Months 2016 2015 2016 2015 (In thousands) General and administrative expense $ 672 $ 1,124 $ 2,516 $ 2,970 Other operating expense 352 1,121 464 2,756 $ 1,024 $ 2,245 $ 2,980 $ 5,726 Share-Based Compensation In first nine 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 nine 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 $169,000 and $292,000 in third quarter of 2016 and 2015 and $596,000 and $807,000 in first nine 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 nine months 2016 and 2015 . Unrecognized share-based compensation expense related to non-vested equity-settled awards, restricted stock and stock options is $2,361,216 at third quarter-end 2016 . In first nine months 2016 and 2015 , we issued 263,371 and 159,867 shares out of our treasury stock associated with vesting of stock-based awards or exercise of stock options, net of 25,026 and 48,636 shares withheld having a value of $221,000 and $722,000 for payroll taxes in connection with vesting of stock-based awards or exercise of stock options. Long-Term Incentive Compensation In first nine 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 $469,000 and $225,000 at third quarter-end 2016 and year-end 2015 and is included in other liabilities.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 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 ("U.S. GAAP") 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 third quarter-end 2016, we have divested substantially all of our oil and gas working interest properties. 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 Pr23

New and Pending Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
New and Pending Accounting Pronouncements	Adoption of New Accounting Standards In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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 our consolidated financial statements. Pending Accounting Standards In May 2014, the FASB issued 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, 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. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) , in order to address eight specific cash flow issues with the objective of reducing the existing diversity in practice. The updated standard is effective for financial statements issued for annual periods beginning after December 15, 2017 and interim periods within those fiscal years with early adoption permitted. 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)	9 Months Ended
	Sep. 30, 2016
Real Estate [Abstract]
Real Estate	Real estate consists of: Third 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 $ 293,356 $ — $ 293,356 $ 352,141 $ — $ 352,141 Timberland and undeveloped land (includes land in entitlement) 93,718 — 93,718 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 (b) — — — 12,706 — 12,706 West Austin multifamily site (b) — — — 9,097 — 9,097 $ 387,074 $ — $ 387,074 $ 618,844 $ (32,129 ) $ 586,715 ___________________ (a) Sold in 2016. (b) Classified as assets held for sale at third quarter-end 2016.

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]
Summarized Results from Discontinued Operations	Summarized results from discontinued operations were as follows: Third Quarter First Nine Months 2016 2015 2016 2015 (In thousands) Revenues $ 180 $ 10,983 $ 5,827 $ 35,219 Cost of sales (108 ) (93,434 ) (6,593 ) (174,462 ) Other operating expenses (3,318 ) (1,644 ) (5,707 ) (8,652 ) Loss from discontinued operations before income taxes $ (3,246 ) $ (84,095 ) $ (6,473 ) $ (147,895 ) Gain (loss) on sale of assets before income taxes 955 (2,174 ) (13,618 ) (1,320 ) Income tax benefit (expense) (4,873 ) (20,668 ) 2,663 2,566 Loss from discontinued operations, net of taxes $ (7,164 ) $ (106,937 ) $ (17,428 ) $ (146,649 )
Schedule of Assets and Liabilities of Discontinued Operations	The major classes of assets and liabilities of discontinued operations at third quarter-end 2016 and year-end 2015 are as follows: Third Year-End 2016 2015 (In thousands) Assets of Discontinued Operations: Receivables, net of allowance for bad debt $ 116 $ 4,632 Oil and gas properties and equipment, net — 79,733 Goodwill and other intangible assets — 19,673 Prepaid expenses 8 96 Other assets — 833 $ 124 $ 104,967 Liabilities of Discontinued Operations: Accounts payable $ 91 $ 342 Accrued property taxes — 259 Other accrued expenses 3,546 8,924 Other liabilities — 1,667 $ 3,637 $ 11,192
Significant Operation and Investing Activities of DIscontinued Operations	Significant operating activities and investing activities of discontinued operations are as follows: First Nine Months 2016 2015 (In thousands) Operating activities: Asset impairments $ 612 $ 88,614 Dry hole and unproved leasehold impairment charges — 46,722 Loss (gain) on sale of assets 13,618 1,320 Depreciation, depletion and amortization 2,202 24,254 $ 16,432 $ 160,910 Investing activities: Oil and gas properties and equipment $ (579 ) $ (47,043 ) Proceeds from sales of assets 76,815 13,111 $ 76,236 $ (33,932 )

Goodwill and Other Intangible26

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 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: Third 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)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Reconciliation of Changes in Equity	A reconciliation of changes in equity through third 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) 14,903 1,330 16,233 Distributions to noncontrolling interests — (2,378 ) (2,378 ) Repurchase of common shares (3,537 ) — (3,537 ) Other (primarily share-based compensation) 2,747 — 2,747 $ 515,713 $ 1,467 $ 517,180

Investment in Unconsolidated 28

Investment in Unconsolidated Ventures (Tables)	9 Months Ended
	Sep. 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 Third Year-End Third Year-End Third Year-End Third Year-End 2016 2015 2016 2015 2016 2015 2016 2015 (In thousands) 242, LLC (b) $ 27,110 $ 26,687 $ 3,182 $ — $ 21,428 $ 24,877 $ 10,048 $ 11,766 CL Ashton Woods, LLC (c) 4,426 7,654 — — 3,685 6,084 2,107 3,615 CL Realty, LLC 7,913 7,872 — — 7,798 7,662 3,899 3,831 CREA FMF Nashville LLC (b) 56,117 57,820 37,192 50,845 17,297 4,291 4,984 3,820 Elan 99, LLC 49,671 34,192 32,461 14,587 13,628 15,838 12,265 14,255 FOR/SR Forsyth LLC 9,584 6,500 — — 9,016 6,500 8,115 5,850 FMF Littleton LLC 70,704 52,376 42,083 22,347 23,838 24,370 6,138 6,270 FMF Peakview LLC — 48,869 — 30,485 — 16,828 — 3,447 HM Stonewall Estates, Ltd (c) 814 2,842 — — 814 2,842 814 1,294 LM Land Holdings, LP (c) 29,350 31,984 4,481 7,728 23,762 22,751 10,770 9,664 MRECV DT Holdings LLC 4,039 4,215 — — 4,039 4,215 3,635 3,807 MRECV Edelweiss LLC 2,816 2,237 — — 2,816 2,237 2,764 2,029 MRECV Juniper Ridge LLC 4,403 3,006 — — 4,403 3,006 3,882 2,730 MRECV Meadow Crossing II LLC 2,366 728 — — 2,366 728 2,129 655 Miramonte Boulder Pass, LLC 12,783 12,627 6,660 5,869 5,380 5,474 5,387 5,349 Temco Associates, LLC 5,357 5,284 — — 5,225 5,113 2,612 2,557 Other ventures 26 4,174 — 2,242 26 1,922 15 1,514 $ 287,479 $ 309,067 $ 126,059 $ 134,103 $ 145,521 $ 154,738 $ 79,564 $ 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) Third Quarter First Nine Months Third Quarter First Nine Months Third Quarter First Nine Months 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 (In thousands) 242, LLC (b) $ 937 $ 2,884 $ 937 $ 20,583 $ 15 $ 1,161 $ (449 ) $ 9,034 $ 14 $ 597 $ (218 ) $ 4,642 CL Ashton Woods, LP (c) 288 3,958 1,977 6,369 83 1,341 601 2,719 129 1,849 892 3,405 CL Realty, LLC 140 205 386 674 72 103 136 346 37 52 68 174 CREA FMF Nashville LLC (b) (d) 1,291 442 3,273 477 (145 ) (991 ) (1,214 ) (1,207 ) 1,484 (991 ) 1,164 (1,207 ) Elan 99, LLC 461 — 628 — (867 ) — (2,211 ) (2 ) (779 ) — (1,989 ) (2 ) FMF Littleton LLC 944 6 1,791 6 (183 ) (152 ) (531 ) (152 ) (47 ) (38 ) (133 ) (38 ) FMF Peakview LLC — 628 939 1,280 — (286 ) (248 ) (1,020 ) — (58 ) (50 ) (204 ) FOR/SR Forsyth LLC — — — — (21 ) — (38 ) — (19 ) — (34 ) — HM Stonewall Estates, Ltd (c) 822 921 1,948 2,590 280 480 794 1,292 120 157 347 730 LM Land Holdings, LP (c) 3,505 1,857 6,531 8,154 2,502 1,391 4,557 5,179 836 423 1,481 1,710 MRECV DT Holdings LLC 162 — 379 — 157 167 372 167 141 — 334 — MRECV Edelweiss LLC 106 — 287 — 106 125 280 125 96 65 252 65 MRECV Juniper Ridge LLC 151 — 356 — 151 105 357 105 135 — 321 — MRECV Meadow Crossing II LLC 112 — 141 — 112 — 94 — 101 — 84 — Miramonte Boulder Pass, LLC 1,015 — 1,678 — (126 ) (92 ) (285 ) (141 ) (63 ) (46 ) (142 ) (71 ) PSW Communities, LP — 5,145 — 21,214 — 613 — 3,141 — 127 — 1,088 Temco Associates, LLC 77 8,019 224 9,163 32 1,618 111 2,077 16 809 56 1,039 Other ventures 6,520 71 6,520 3,772 2,166 242 2,109 (16 ) 1,436 (37 ) 1,439 207 $ 16,531 $ 24,136 $ 27,995 $ 74,282 $ 4,334 $ 5,825 $ 4,435 $ 21,647 $ 3,637 $ 2,909 $ 3,872 $ 11,538 _____________________ (a) Total includes current maturities of $88,249,000 at third quarter-end 2016 , of which $68,430,000 is non-recourse to us, and $39,590,000 at year-end 2015 , of which $29,691,000 is non-recourse to us. (b) Includes unamortized deferred gains on real estate we contributed to ventures. We recognize deferred gains as income as the real estate is sold to third parties. Deferred gains of $1,490,000 are reflected as a reduction to our investment in unconsolidated ventures at third quarter-end 2016 . (c) Includes unrecognized basis difference of $122,000 which is reflected as an increase of our investment in unconsolidated ventures at third 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 share of venture earnings in third quarter and first nine months 2016 includes reallocation of prior year cumulative losses incurred by the venture as a result of equity contribution by the venture partner in 2016.

Receivables (Tables)

Receivables (Tables)	9 Months Ended
	Sep. 30, 2016
Receivables [Abstract]
Receivables	Receivables consist of: Third Year-End 2016 2015 (In thousands) Funds held by qualified intermediary for potential 1031 like-kind exchange $ — $ 14,703 Other receivables and accrued interest 561 2,218 Other loans secured by real estate, average interest rates of 12.91% at third quarter-end 2016 and 11.31% at year-end 2015 764 2,130 1,325 19,051 Allowance for bad debts (25 ) (26 ) $ 1,300 $ 19,025

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt (a) consists of: Third Year-End 2016 2015 (In thousands) 8.50% senior secured notes due 2022, net $ 5,195 $ 224,647 3.75% convertible senior notes due 2020, net of discount 103,637 104,719 6.00% tangible equity unit notes, net 2,219 8,666 Secured promissory note — average interest rate of 3.42% at year-end 2015 — 15,400 Other indebtedness — interest rates ranging from 5.0% to 5.50% 1,297 28,083 $ 112,348 $ 381,515 ___________________ (a) At third quarter-end 2016 and year-end 2015 , $1,768,000 and $8,267,000 of unamortized deferred financing fees are deducted from our outstanding debt .

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 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: Third 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 $ — $ — $ 36,243 $ 36,243 $ — $ — $ 641 $ 641 Assets of discontinued operations $ — $ — $ — $ — $ — $ — $ 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: Third Quarter-End 2016 Year-End 2015 Carrying Amount Fair Value Carrying Amount Fair Value Valuation Technique (In thousands) Fixed rate debt $ (112,810 ) $ (112,455 ) $ (346,090 ) $ (321,653 ) Level 2

Net Income (Loss) per Share (Ta

Net Income (Loss) per Share (Tables)	9 Months Ended
	Sep. 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: Third Quarter First Nine Months 2016 2015 2016 2015 (In thousands) Numerator: Continuing operations Net income (loss) from continuing operations $ 17,439 $ (57,394 ) $ 33,661 $ (60,237 ) Less: Net (income) loss attributable to noncontrolling interest (610 ) 115 (1,330 ) 5 Earnings (loss) available for diluted earnings per share $ 16,829 $ (57,279 ) $ 32,331 $ (60,232 ) Less: Undistributed net income from continuing operations allocated to participating securities (3,152 ) — (6,035 ) — Earnings (loss) from continuing operations available to common shareholders for basic earnings per share $ 13,677 $ (57,279 ) $ 26,296 $ (60,232 ) Discontinued operations Net income (loss) from discontinued operations available for diluted earnings per share $ (7,164 ) $ (106,937 ) $ (17,428 ) $ (146,649 ) Less: Undistributed net income from discontinued operations allocated to participating securities 1,342 — 3,253 — Earnings (loss) from discontinued operations available to common shareholders for basic earnings per share $ (5,822 ) $ (106,937 ) $ (14,175 ) $ (146,649 ) Denominator: Weighted average common shares outstanding — basic 34,099 34,299 34,234 34,248 Weighted average common shares upon conversion of participating securities 7,857 — 7,857 — Dilutive effect of stock options, restricted stock and equity-settled awards 304 — 243 — Total weighted average shares outstanding — diluted 42,260 34,299 42,334 34,248 Anti-dilutive awards excluded from diluted weighted average shares 2,001 10,933 2,146 10,835

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 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 nine months 2016: Severance Costs Retention Bonuses Total (In thousands) Balance at year-end 2015 $ (1,049 ) $ — $ (1,049 ) Additions (2,072 ) (832 ) (2,904 ) Payments 3,121 792 3,913 Balance at third quarter-end 2016 $ — $ (40 ) $ (40 )

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Assets Allocated by Segment	Total assets allocated by segment are as follows: Third Year-End 2016 2015 (In thousands) Real estate $ 484,426 $ 691,238 Mineral resources 39,140 39,469 Other 20,422 19,106 Assets of discontinued operations 124 104,967 Assets not allocated to segments (a) 147,965 117,466 $ 692,077 $ 972,246 _________________________ (a) Assets not allocated to segments at third quarter-end 2016 principally consist of cash and cash equivalents of $122,130,000 and an income tax receivable of $23,068,000 . 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 divesting.
Segment Revenues and Earnings	Segment revenues and earnings are as follows: Third Quarter First Nine Months 2016 2015 2016 2015 (In thousands) Revenues: Real estate $ 45,297 $ 27,957 $ 127,776 $ 100,196 Mineral resources 1,423 2,502 3,842 7,616 Other 487 1,726 1,199 5,372 Total revenues $ 47,207 $ 32,185 $ 132,817 $ 113,184 Segment earnings (loss): Real estate $ 15,017 $ 5,154 $ 108,531 $ 29,747 Mineral resources 1,182 77 2,668 3,215 Other (196 ) (77 ) (974 ) (511 ) Total segment earnings 16,003 5,154 110,225 32,451 Items not allocated to segments (a) (8,840 ) (18,865 ) (70,479 ) (50,984 ) Income (loss) from continuing operations before taxes attributable to Forestar Group Inc. $ 7,163 $ (13,711 ) $ 39,746 $ (18,533 ) _________________________ (a) Items not allocated to segments consist of: Third Quarter First Nine Months 2016 2015 2016 2015 (In thousands) General and administrative expense $ (4,505 ) $ (8,343 ) $ (13,992 ) $ (19,540 ) Shared-based and long-term incentive compensation expense (1,024 ) (2,245 ) (2,980 ) (5,726 ) Interest expense (3,369 ) (8,315 ) (17,926 ) (25,851 ) Loss on extinguishment of debt, net — — (35,864 ) — Other corporate non-operating income 58 38 283 133 $ (8,840 ) $ (18,865 ) $ (70,479 ) $ (50,984 )

Share-Based and Long-Term Inc35

Share-Based and Long-Term Incentive Compensation (Tables)	9 Months Ended
	Sep. 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: Third Quarter First Nine Months 2016 2015 2016 2015 (In thousands) Cash-settled awards $ (43 ) $ 146 $ 82 $ (1,005 ) Equity-settled awards 765 1,654 1,869 4,569 Restricted stock 10 16 22 13 Stock options 217 388 692 1,954 Total share-based compensation 949 2,204 2,665 5,531 Deferred cash 75 41 315 195 $ 1,024 $ 2,245 $ 2,980 $ 5,726
Share-Based Compensation Expense (Income) Included in Operating Expense	Share-based and long-term incentive compensation expense is included in: Third Quarter First Nine Months 2016 2015 2016 2015 (In thousands) General and administrative expense $ 672 $ 1,124 $ 2,516 $ 2,970 Other operating expense 352 1,121 464 2,756 $ 1,024 $ 2,245 $ 2,980 $ 5,726

New and Pending Accounting Pr36

New and Pending Accounting Pronouncements (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred finance costs, net	$ 1,768	$ 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	Sep. 30, 2016	Dec. 31, 2015
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	$ 387,074	$ 618,844
Less: accumulated depreciation	0	(32,129)
Net carrying value	387,074	586,715
Entitled, developed and under development projects
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	293,356	352,141
Less: accumulated depreciation	0	0
Net carrying value	293,356	352,141
Timberland and undeveloped land (includes land in entitlement)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	93,718	98,181
Less: accumulated depreciation	0	0
Net carrying value	93,718	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
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	0	12,706
Less: accumulated depreciation	0	0
Net carrying value	0	12,706
West Austin
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Carrying value	0	9,097
Less: accumulated depreciation	0	0
Net carrying value	$ 0	$ 9,097

Real Estate - Additional Inform

Real Estate - Additional Information (Detail)	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)propertyroommultifamily_site	Sep. 30, 2016USD ($)propertyroomcommunity_development_project	Sep. 30, 2015USD ($)	Jun. 30, 2016USD ($)room	Dec. 31, 2015USD ($)
Real Estate Properties [Line Items]
Number of multifamily sites | multifamily_site	2
Assets held for sale	$ 14,394,000	$ 14,394,000			$ 0
Payment of debt		311,724,000	$ 7,527,000
Gain on sale of assets		108,114,000	265,000
Non-cash impairment charges		57,065,000	91,146,000
Reimbursements from utility and improvement districts		(13,698,000)	$ (8,285,000)
Utility and Improvement District
Real Estate Properties [Line Items]
Cost of asset in developed and under development projects	54,290,000	54,290,000			67,554,000
Reimbursements from utility and improvement districts		13,197,000
San Antonio, Texas | Cibolo Canyons Project
Real Estate Properties [Line Items]
Cost of asset in developed and under development projects	22,361,000	22,361,000			$ 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	$ 36,109,000	$ 36,109,000
Radisson Hotel & Suites, Austin | Austin, Texas
Real Estate Properties [Line Items]
Number of hotel rooms | room	413	413		413
Sales price	$ 130,000,000	$ 130,000,000		$ 130,000,000
Net proceeds		128,764,000
Payment of debt		15,400,000
Gain on sale of assets		95,336,000
Eleven | Austin, Texas
Real Estate Properties [Line Items]
Sales price	$ 60,150,000	60,150,000
Net proceeds		59,719,000
Payment of debt		23,936,000
Gain on sale of assets		$ 9,116,000
Number of units of multifamily project | property	257	257
Dillon | Charlotte, North Carolina
Real Estate Properties [Line Items]
Sales price	$ 25,979,000	$ 25,979,000
Net proceeds		25,433,000
Gain on sale of assets		$ 1,229,000
Number of units of multifamily project | property	379	379
Music Row | Nashville, Tennessee
Real Estate Properties [Line Items]
Sales price	$ 15,025,000	$ 15,025,000
Net proceeds		14,703,000
Gain on sale of assets		$ 3,968,000
Number of units of multifamily project | property	230	230
Real Estate Impairment Charges
Real Estate Properties [Line Items]
Non-cash impairment charges	$ 7,627,000	$ 56,453,000
Community Development Project
Real Estate Properties [Line Items]
Number of properties impaired | community_development_project		6

Discontinued Operations (Summar

Discontinued Operations (Summarized Results from Discontinued Operations) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Revenues	$ 180	$ 10,983	$ 5,827	$ 35,219
Cost of sales	(108)	(93,434)	(6,593)	(174,462)
Other operating expenses	(3,318)	(1,644)	(5,707)	(8,652)
Loss from discontinued operations before income taxes	(3,246)	(84,095)	(6,473)	(147,895)
Gain (loss) on sale of assets before income taxes	955	(2,174)	(13,618)	(1,320)
Income tax benefit (expense)	(4,873)	(20,668)	2,663	2,566
Loss from discontinued operations, net of taxes	$ (7,164)	$ (106,937)	$ (17,428)	$ (146,649)

Discontinued Operations (Additi

Discontinued Operations (Additional Information) (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)awell	Sep. 30, 2015USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on disposition of proved property			$ (13,618,000)
Net mineral acres leased from others sold | a			199,263
Gross producing oil and gas wells sold | well			379
Net producing oil and gas wells sold | well			95
Proceeds from sale of oil and gas property and equipment			$ 80,084,000
Reimbursement of capital costs related to sale of in progress wells	$ 3,269,000		3,269,000
Non-cash impairment charges			$ 57,065,000	$ 91,146,000
Huffman vs. Forestar Petroleum Corporation | Pending Litigation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accrual for damages	1,100,000
Wyoming
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Environmental liability	$ 1,155,000
Cost of Sales
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Non-cash impairment charges		$ 79,438,000		$ 125,383,000

Discontinued Operations (Assets

Discontinued Operations (Assets and Liabilities of Discontinued Operations) (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Assets of Discontinued Operations:
Receivables, net of allowance for bad debt	$ 116	$ 4,632
Oil and gas properties and equipment, net	0	79,733
Goodwill and other intangible assets	0	19,673
Prepaid expenses	8	96
Other assets	0	833
Assets of discontinued operations	124	104,967
Liabilities of Discontinued Operations:
Accounts payable	91	342
Accrued property taxes	0	259
Other accrued expenses	3,546	8,924
Other liabilities	0	1,667
Liabilities held for sale	$ 3,637	$ 11,192

Discontinued Operations (Signif

Discontinued Operations (Significant Operating and Investing Activities of Discontinued Operations) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Operating activities:
Asset impairments			$ 57,065	$ 91,146
Dry hole and unproved leasehold impairment charges			0	46,722
Loss (gain) on sale of assets	$ (955)	$ 2,174	13,618	1,320
Depreciation, depletion and amortization			9,885	36,780
Cash provided by (used in) operating activities, discontinued operations			16,432	160,910
Investing activities:
Oil and gas properties and equipment			(579)	(47,043)
Proceeds from sales of assets			319,351	13,571
Cash provided by (used in) investing activities, discontinued operations			76,236	(33,932)
Discontinued Operations
Operating activities:
Asset impairments			612	88,614
Dry hole and unproved leasehold impairment charges			0	46,722
Loss (gain) on sale of assets			13,618	1,320
Depreciation, depletion and amortization			2,202	24,254
Investing activities:
Oil and gas properties and equipment			(579)	(47,043)
Proceeds from sales of assets			$ 76,815	$ 13,111

Goodwill and Other Intangible43

Goodwill and Other Intangible Assets - Carrying Value of Goodwill and Other Intangible Assets (Detail) - USD ($) $ in Thousands	Sep. 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 Intangible44

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill	$ 41,774,000	$ 41,774,000
Credo
Business Acquisition [Line Items]
Goodwill	37,900,000	37,900,000
Water Resource Company
Business Acquisition [Line Items]
Goodwill	3,874,000	$ 3,874,000
Indefinite-lived intangible assets (excluding goodwill)	$ 1,681,000

Equity - Reconciliation of Chan

Equity - Reconciliation of Changes in Equity (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			$ 504,115
Consolidated net income (loss)	$ 10,275	$ (164,331)	16,233	$ (206,886)
Distributions to noncontrolling interests			(2,378)
Repurchase of common shares			3,537	$ 0
Other (primarily share-based compensation)			2,747
Ending balance	517,180		517,180
Forestar Group Inc.
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			501,600
Consolidated net income (loss)			14,903
Repurchase of common shares			3,537
Other (primarily share-based compensation)			2,747
Ending balance	515,713		515,713
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			2,515
Consolidated net income (loss)			1,330
Distributions to noncontrolling interests			(2,378)
Ending balance	$ 1,467		$ 1,467

Equity - Additional Information

Equity - Additional Information (Detail) - Common Stock	9 Months Ended
	Sep. 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 47

Investment in Unconsolidated Ventures - Additional Information (Detail) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016propertyventure	Sep. 30, 2016USD ($)property	Sep. 30, 2015USD ($)
Schedule of Equity Method Investments [Line Items]
Gain on sale of assets		$ 108,114	$ 265
Investment in unconsolidated ventures		5,615	23,908
Distributions of return on investments and earnings		8,741	$ 15,126
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Number of ventures under ownership interest using equity method | venture	17
Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Number of ventures that are a VIE | venture	0
FMF Peakview LLC
Schedule of Equity Method Investments [Line Items]
Net proceeds		13,917
Gain on sale of assets		$ 10,363
FMF Peakview LLC | Multi Family Property
Schedule of Equity Method Investments [Line Items]
Number of units of multifamily project | property	304	304

Investment in Unconsolidated 48

Investment in Unconsolidated Ventures - Summarized Balance Sheet Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Venture Assets	$ 287,479	$ 309,067
Venture Borrowings	126,059	134,103
Venture Equity	145,521	154,738
Investment in venture	79,564	82,453
242, LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	27,110	26,687
Venture Borrowings	3,182	0
Venture Equity	21,428	24,877
Investment in venture	10,048	11,766
CL Ashton Woods, LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	4,426	7,654
Venture Borrowings	0	0
Venture Equity	3,685	6,084
Investment in venture	2,107	3,615
CL Realty, LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	7,913	7,872
Venture Borrowings	0	0
Venture Equity	7,798	7,662
Investment in venture	3,899	3,831
CREA FMF Nashville LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	56,117	57,820
Venture Borrowings	37,192	50,845
Venture Equity	17,297	4,291
Investment in venture	4,984	3,820
Elan 99, LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	49,671	34,192
Venture Borrowings	32,461	14,587
Venture Equity	13,628	15,838
Investment in venture	12,265	14,255
FOR/SR Forsyth LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	9,584	6,500
Venture Borrowings	0	0
Venture Equity	9,016	6,500
Investment in venture	8,115	5,850
FMF Littleton LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	70,704	52,376
Venture Borrowings	42,083	22,347
Venture Equity	23,838	24,370
Investment in venture	6,138	6,270
FMF Peakview LLC
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, Ltd
Schedule of Equity Method Investments [Line Items]
Venture Assets	814	2,842
Venture Borrowings	0	0
Venture Equity	814	2,842
Investment in venture	814	1,294
LM Land Holdings, LP
Schedule of Equity Method Investments [Line Items]
Venture Assets	29,350	31,984
Venture Borrowings	4,481	7,728
Venture Equity	23,762	22,751
Investment in venture	10,770	9,664
MRECV DT Holdings LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	4,039	4,215
Venture Borrowings	0	0
Venture Equity	4,039	4,215
Investment in venture	3,635	3,807
MRECV Edelweiss LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	2,816	2,237
Venture Borrowings	0	0
Venture Equity	2,816	2,237
Investment in venture	2,764	2,029
MREC VH Juniper Ridge LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	4,403	3,006
Venture Borrowings	0	0
Venture Equity	4,403	3,006
Investment in venture	3,882	2,730
MRECV Meadow Crossing II LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	2,366	728
Venture Borrowings	0	0
Venture Equity	2,366	728
Investment in venture	2,129	655
Miramonte Boulder Pass, LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	12,783	12,627
Venture Borrowings	6,660	5,869
Venture Equity	5,380	5,474
Investment in venture	5,387	5,349
Temco Associates, LLC
Schedule of Equity Method Investments [Line Items]
Venture Assets	5,357	5,284
Venture Borrowings	0	0
Venture Equity	5,225	5,113
Investment in venture	2,612	2,557
Other ventures
Schedule of Equity Method Investments [Line Items]
Venture Assets	26	4,174
Venture Borrowings	0	2,242
Venture Equity	26	1,922
Investment in venture	$ 15	$ 1,514

Investment in Unconsolidated 49

Investment in Unconsolidated Ventures - Summarized Income Statement Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Schedule of Equity Method Investments [Line Items]
Revenues	$ 16,531	$ 24,136	$ 27,995	$ 74,282
Earnings (loss)	4,334	5,825	4,435	21,647
Equity in earnings of unconsolidated ventures	3,637	2,909	3,872	11,538
242, LLC
Schedule of Equity Method Investments [Line Items]
Revenues	937	2,884	937	20,583
Earnings (loss)	15	1,161	(449)	9,034
Equity in earnings of unconsolidated ventures	14	597	(218)	4,642
CL Ashton Woods, LP
Schedule of Equity Method Investments [Line Items]
Revenues	288	3,958	1,977	6,369
Earnings (loss)	83	1,341	601	2,719
Equity in earnings of unconsolidated ventures	129	1,849	892	3,405
CL Realty, LLC
Schedule of Equity Method Investments [Line Items]
Revenues	140	205	386	674
Earnings (loss)	72	103	136	346
Equity in earnings of unconsolidated ventures	37	52	68	174
CREA FMF Nashville LLC
Schedule of Equity Method Investments [Line Items]
Revenues	1,291	442	3,273	477
Earnings (loss)	(145)	(991)	(1,214)	(1,207)
Equity in earnings of unconsolidated ventures	1,484	(991)	1,164	(1,207)
Elan 99, LLC
Schedule of Equity Method Investments [Line Items]
Revenues	461	0	628	0
Earnings (loss)	(867)	0	(2,211)	(2)
Equity in earnings of unconsolidated ventures	(779)	0	(1,989)	(2)
FOR/SR Forsyth LLC
Schedule of Equity Method Investments [Line Items]
Revenues	0	0	0	0
Earnings (loss)	(21)	0	(38)	0
Equity in earnings of unconsolidated ventures	(19)	0	(34)	0
FMF Littleton LLC
Schedule of Equity Method Investments [Line Items]
Revenues	944	6	1,791	6
Earnings (loss)	(183)	(152)	(531)	(152)
Equity in earnings of unconsolidated ventures	(47)	(38)	(133)	(38)
FMF Peakview LLC
Schedule of Equity Method Investments [Line Items]
Revenues	0	628	939	1,280
Earnings (loss)	0	(286)	(248)	(1,020)
Equity in earnings of unconsolidated ventures	0	(58)	(50)	(204)
HM Stonewall Estates, Ltd
Schedule of Equity Method Investments [Line Items]
Revenues	822	921	1,948	2,590
Earnings (loss)	280	480	794	1,292
Equity in earnings of unconsolidated ventures	120	157	347	730
LM Land Holdings, LP
Schedule of Equity Method Investments [Line Items]
Revenues	3,505	1,857	6,531	8,154
Earnings (loss)	2,502	1,391	4,557	5,179
Equity in earnings of unconsolidated ventures	836	423	1,481	1,710
MRECV DT Holdings LLC
Schedule of Equity Method Investments [Line Items]
Revenues	162	0	379	0
Earnings (loss)	157	167	372	167
Equity in earnings of unconsolidated ventures	141	0	334	0
MRECV Edelweiss LLC
Schedule of Equity Method Investments [Line Items]
Revenues	106	0	287	0
Earnings (loss)	106	125	280	125
Equity in earnings of unconsolidated ventures	96	65	252	65
MREC VH Juniper Ridge LLC
Schedule of Equity Method Investments [Line Items]
Revenues	151	0	356	0
Earnings (loss)	151	105	357	105
Equity in earnings of unconsolidated ventures	135	0	321	0
MRECV Meadow Crossing II LLC
Schedule of Equity Method Investments [Line Items]
Revenues	112	0	141	0
Earnings (loss)	112	0	94	0
Equity in earnings of unconsolidated ventures	101	0	84	0
Miramonte Boulder Pass, LLC
Schedule of Equity Method Investments [Line Items]
Revenues	1,015	0	1,678	0
Earnings (loss)	(126)	(92)	(285)	(141)
Equity in earnings of unconsolidated ventures	(63)	(46)	(142)	(71)
PSW Communities
Schedule of Equity Method Investments [Line Items]
Revenues	0	5,145	0	21,214
Earnings (loss)	0	613	0	3,141
Equity in earnings of unconsolidated ventures	0	127	0	1,088
Temco Associates, LLC
Schedule of Equity Method Investments [Line Items]
Revenues	77	8,019	224	9,163
Earnings (loss)	32	1,618	111	2,077
Equity in earnings of unconsolidated ventures	16	809	56	1,039
Other ventures
Schedule of Equity Method Investments [Line Items]
Revenues	6,520	71	6,520	3,772
Earnings (loss)	2,166	242	2,109	(16)
Equity in earnings of unconsolidated ventures	$ 1,436	$ (37)	$ 1,439	$ 207

Investment in Unconsolidated 50

Investment in Unconsolidated Ventures - Summarized Income Statement Information additional information (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Long-term debt, current maturities	$ 88,249	$ 39,590
Equity Method Investments | Non-recourse Debt
Schedule of Equity Method Investments [Line Items]
Long-term debt, current maturities	68,430	$ 29,691
242, LLC
Schedule of Equity Method Investments [Line Items]
Unrecognized basis difference on equity method investment	1,490
LM Land Holdings, LP
Schedule of Equity Method Investments [Line Items]
Unrecognized basis difference on equity method investment	$ 122

Receivables - Receivables (Deta

Receivables - Receivables (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 1,325	$ 19,051
Allowance for bad debts	(25)	(26)
Receivables, net	1,300	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	$ 561	$ 2,218
Notes receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Average interest rates	12.91%	11.31%
Total	$ 764	$ 2,130

Receivables - Additional Inform

Receivables - Additional Information (Detail) - a	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
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, net - Schedule of Debt (D

Debt, net - Schedule of Debt (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Line of Credit Facility [Line Items]
Debt, net	$ 112,348		$ 381,515
Deferred finance costs, net	$ 1,768		$ 8,267
Senior Notes
Line of Credit Facility [Line Items]
Interest rate percentage	8.50%		8.50%
Debt, net	$ 5,195		$ 224,647
Debt instrument, maturity date	Jun. 1, 2022
Convertible Debt
Line of Credit Facility [Line Items]
Interest rate percentage		3.75%
Debt, net	$ 103,637		$ 104,719
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
Secured Debt
Line of Credit Facility [Line Items]
Debt, net	$ 0		$ 15,400
Average interest rate			3.42%
Other indebtedness
Line of Credit Facility [Line Items]
Debt, net	$ 1,297		$ 28,083
Variable and fixed interest rates ranging, minimum	5.00%
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	$ 2,219		$ 8,666

Debt, net - Additional Informat

Debt, net - Additional Information (Detail)	3 Months Ended				9 Months Ended
	Sep. 30, 2016USD ($)propertyroom	Jun. 30, 2016USD ($)propertyroom	Mar. 31, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)propertyroomextension	Sep. 30, 2015USD ($)	Sep. 02, 2016USD ($)	Sep. 01, 2016USD ($)	Dec. 31, 2015USD ($)
Line of Credit Facility [Line Items]
Payment of debt					$ 311,724,000	$ 7,527,000
Accrued interest	$ 569,000				569,000				$ 3,267,000
Loss on debt extinguishment, net	0			$ 0	35,864,000	0
Deferred finance costs, net	1,768,000				1,768,000				8,267,000
Amortization of deferred financing fees					$ 3,253,000	$ 2,992,000
Senior Secured Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, expiration date					May 15, 2017
Number of extensions | extension					2
Length of extensions					1 year
Maximum borrowing capacity under term Loan facility							$ 125,000,000	$ 300,000,000
Amount drawn on	0
Debt issuance cost	831,000
Sublimit for letters of credit outstanding	13,679,000				$ 13,679,000
Net unused borrowing capacity	111,321,000				$ 111,321,000
Percentage of spread on federal funds effective rate					0.50%
Minimum net worth required for compliance	$ 379,044,000				$ 379,044,000
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%
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%
Deferred finance costs, net	$ 524,000				$ 524,000				$ 2,768,000
Senior Notes
Line of Credit Facility [Line Items]
Interest rate percentage	8.50%				8.50%				8.50%
Extinguishment of debt, amount			$ 8,600,000
Redemption price, percentage			99.00%
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%
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
Loss on extinguishment of debt, before write off of deferred debt issuance cost		$ (110,000)
Letter of Credit | Senior Secured Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, letters of credit sublimit	$ 100,000,000				$ 100,000,000
LIBOR | Senior Secured Credit Facility
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate					4.00%
Base Rate | Senior Secured Credit Facility
Line of Credit Facility [Line Items]
Percentage of variable spread on base rate					3.00%
30 day LIBOR rate | Senior Secured 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			413
Purchase price of properties sold	$ 130,000,000	$ 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
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
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
Number of units of multifamily project | property		257
Tender Offer | Senior Notes
Line of Credit Facility [Line Items]
Interest rate percentage		8.50%
Extinguishment of debt, amount		$ 215,495,000
Percentage of principal amount redeemed		97.60%
Payment of debt		$ 245,604,000
Unamortized premium		$ 29,091,000
Redemption price, percentage		113.50%
Accrued interest		$ 1,018,000
Open Market Transaction | Senior Notes
Line of Credit Facility [Line Items]
Redemption price, percentage		99.95%
Principal amount of debt		$ 1,150,000

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016multifamily_site	Jun. 30, 2016USD ($)	Sep. 30, 2016USD ($)community_development_projectmultifamily_site	Sep. 30, 2015USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset impairments | $			$ 57,065	$ 91,146
Number of multifamily sites | multifamily_site	2
Community Development Project
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of properties impaired | community_development_project			6
Multifamily Site
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of properties impaired | multifamily_site			2
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	Sep. 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	$ 36,243	$ 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	36,243	641
Discontinued Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure, nonrecurring	0	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	$ 0	$ 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	Sep. 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	$ (112,455)	$ (321,653)
Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed rate debt	$ (112,810)	$ (346,090)

Capital Stock - Additional Info

Capital Stock - Additional Information (Detail) - Employees of former affliate - Employee Stock Option	3 Months Ended
	Sep. 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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Continuing operations
Net income (loss) from continuing operations	$ 17,439	$ (57,394)	$ 33,661	$ (60,237)
Less: Net (income) loss attributable to noncontrolling interests	(610)	115	(1,330)	5
Earnings (loss) available for diluted earnings per share	16,829	(57,279)	32,331	(60,232)
Less: Undistributed net income from continuing operations allocated to participating securities	3,152	0	6,035	0
Earnings (loss) from continuing operations available to common shareholders for basic earnings per share	13,677	(57,279)	26,296	(60,232)
Discontinued operations
Loss from discontinued operations, net of taxes	(7,164)	(106,937)	(17,428)	(146,649)
Less: Undistributed net income from discontinued operations allocated to participating securities	1,342	0	3,253	0
Earnings (loss) from discontinued operations available to common shareholders for basic earnings per share	$ (5,822)	$ (106,937)	$ (14,175)	$ (146,649)
Denominator:
Weighted average common shares outstanding — basic	34,099	34,299	34,234	34,248
Weighted average common shares upon conversion of participating securities	7,857	0	7,857	0
Dilutive effect of stock options, restricted stock and equity-settled awards	304	0	243	0
Total weighted average shares outstanding — diluted	42,260	34,299	42,334	34,248
Anti-dilutive awards excluded from diluted weighted average shares (in shares)	2,001	10,933	2,146	10,835

Net Income (Loss) per Share - A

Net Income (Loss) per Share - Additional Information (Detail)	9 Months Ended
	Sep. 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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Effective income tax rate, percent	(124.00%)	315.00%	18.00%	225.00%
Federal statutory income tax rate, percent			35.00%
Valuation allowance, deferred tax asset, amount	$ 88,773		$ 88,773		$ 97,068

Commitments and Contingencies -

Commitments and Contingencies - Litigation (Details) - Huffman vs. Forestar Petroleum Corporation - USD ($)	Sep. 23, 2016	Aug. 11, 2016	Sep. 30, 2016
Settled Litigation
Loss Contingencies [Line Items]
Litigation settlement, amount		$ 150,000
Pending Litigation
Loss Contingencies [Line Items]
Litigation settlement, amount	$ 923,899
Accrual for damages			$ 1,100,000

Commitments and Contingencies63

Commitments and Contingencies - Environmental (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Environmental Exit Cost [Line Items]
Asset retirement obligation	$ 1,256,000	$ 1,758,000
Other Liabilities - Discontinued Operations
Environmental Exit Cost [Line Items]
Asset retirement obligation	$ 1,155,000	$ 1,667,000

Commitments and Contingencies64

Commitments and Contingencies - Non-Core Assets Restructuring Costs (Detail)	9 Months Ended
	Sep. 30, 2016USD ($)
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Restructuring charges	$ 2,904,000
One-time Termination Benefits | Real estate
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Restructuring charges	1,422,000
One-time Termination Benefits | Other natural resources
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Restructuring charges	164,000
General and Administrative Expense | One-time Termination Benefits
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Restructuring charges	$ 486,000

Commitments and Contingencies65

Commitments and Contingencies - (Schedule of Non-Core Assets Restructuring Costs) (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Restructuring Reserve [Roll Forward]
Restructuring Reserve	$ (1,049)
Restructuring charges	(2,904)
Payments for restructuring	3,913
Restructuring Reserve	(40)
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	(832)
Payments for restructuring	792
Restructuring Reserve	$ (40)

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended	9 Months Ended
	Sep. 30, 2016Customer	Sep. 30, 2016segment
Segment Reporting [Abstract]
Number of business segments | segment		3
Number of customer who contributed more than 10 percent of revenue | Customer	0

Segment Information - Assets Al

Segment Information - Assets Allocated by Segment (Detail) - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Total Assets		$ 692,077	$ 972,246
Cash and cash equivalents		122,130	96,442	$ 92,640	$ 170,127
Income taxes receivable		23,068	12,056
Continuing Operations | Operating Segments | Real estate
Segment Reporting Information [Line Items]
Total Assets		484,426	691,238
Continuing Operations | Operating Segments | Mineral resources
Segment Reporting Information [Line Items]
Total Assets		39,140	39,469
Continuing Operations | Operating Segments | Other
Segment Reporting Information [Line Items]
Total Assets		20,422	19,106
Continuing Operations | Items Not Allocated to Segments
Segment Reporting Information [Line Items]
Total Assets	[1]	147,965	117,466
Cash and cash equivalents		122,130	96,442
Income taxes receivable		23,068	12,056
Discontinued Operations
Segment Reporting Information [Line Items]
Total Assets	[1]	$ 124	$ 104,967
[1]	Assets not allocated to segments at third quarter-end 2016 principally consist of cash and cash equivalents of $122,130,000 and an income tax receivable of $23,068,000. 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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information [Line Items]
Total revenues	$ 47,207	$ 32,185	$ 132,817	$ 113,184
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	7,163	(13,711)	39,746	(18,533)
General and administrative expense	(5,177)	(9,467)	(16,508)	(22,510)
Interest expense	(3,369)	(8,315)	(17,926)	(25,851)
Loss on extinguishment of debt, net	0	0	(35,864)	0
Other corporate non-operating income	1,249	62	1,620	1,762
Segment Earnings
Segment Reporting Information [Line Items]
Total revenues	47,207	32,185	132,817	113,184
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	16,003	5,154	110,225	32,451
Segment Earnings | Real estate
Segment Reporting Information [Line Items]
Total revenues	45,297	27,957	127,776	100,196
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	15,017	5,154	108,531	29,747
Segment Earnings | Mineral resources
Segment Reporting Information [Line Items]
Total revenues	1,423	2,502	3,842	7,616
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	1,182	77	2,668	3,215
Segment Earnings | Other
Segment Reporting Information [Line Items]
Total revenues	487	1,726	1,199	5,372
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	(196)	(77)	(974)	(511)
Items Not Allocated to Segments
Segment Reporting Information [Line Items]
Segment reporting information income (loss) from continuing operations before income taxes attributable to parent	(8,840)	(18,865)	(70,479)	(50,984)
General and administrative expense	(4,505)	(8,343)	(13,992)	(19,540)
Shared-based and long-term incentive compensation expense	(1,024)	(2,245)	(2,980)	(5,726)
Interest expense	(3,369)	(8,315)	(17,926)	(25,851)
Loss on extinguishment of debt, net	0	0	(35,864)	0
Other corporate non-operating income	$ 58	$ 38	$ 283	$ 133

Share-Based and Long-Term Inc69

Share-Based and Long-Term Incentive Compensation - Components of Share-Based Compensation Expense (Income) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	$ 949	$ 2,204	$ 2,665	$ 5,531
Compensation expense	75	41	315	195
Share based and Long Term Incentive Compensation	1,024	2,245	2,980	5,726
Cash Settled Awards
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	(43)	146	82	(1,005)
Equity-settled awards
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	765	1,654	1,869	4,569
Restricted Stock
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	10	16	22	13
Employee Stock Option
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Total share-based compensation	217	388	692	1,954
General and Administrative Expense
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Share based and Long Term Incentive Compensation	672	1,124	2,516	2,970
Other Operating Expenses
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Share based and Long Term Incentive Compensation	$ 352	$ 1,121	$ 464	$ 2,756

Share-Based and Long-Term Inc70

Share-Based and Long-Term Incentive Compensation - Share Based Compensation Expense (Income) Included in Operating Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share based and Long Term Incentive Compensation	$ 1,024	$ 2,245	$ 2,980	$ 5,726
General and administrative expense
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share based and Long Term Incentive Compensation	672	1,124	2,516	2,970
Other Operating Expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share based and Long Term Incentive Compensation	$ 352	$ 1,121	$ 464	$ 2,756

Share-Based and Long-Term Inc71

Share-Based and Long-Term Incentive Compensation - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)shares	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)directorshares	Sep. 30, 2015USD ($)shares	Dec. 31, 2015USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense | $	$ 75,000	$ 41,000	$ 315,000	$ 195,000
Fair value of awards granted to retirement eligible employees and expensed at date of grant | $			600,000	$ 517,000
Unrecognized share-based compensation expense related to non-vested equity-settled awards, restricted stock and stock options | $	2,361,216		$ 2,361,216
Shares issued out of treasury stock			263,371	159,867
Shares withheld for payroll taxes			25,026	48,636
Value of shares withheld for payroll taxes | $			$ 221,000	$ 722,000
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 | $	$ 169,000	292,000	$ 596,000	807,000
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 | $	$ 620,000	$ 587,000	$ 620,000	$ 587,000
Deferred compensation arrangement with individual, service period (in years)			2 years	3 years
Deferred compensation cash-based arrangements, liability, current and noncurrent | $	$ 469,000		$ 469,000		$ 225,000