Stratus Properties (STRS) 10-Q 14 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information Document (USD $)	6 Months Ended
	Jun. 30, 2014	Jul. 31, 2014	Jun. 28, 2013
Document and Entity Information [Abstract]	'	'	'
Entity Registrant Name	'Stratus Properties Inc.	'	'
Entity Central Index Key	'0000885508	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Filer Category	'Smaller Reporting Company	'	'
Document Type	'10-Q	'	'
Document Period End Date	30-Jun-14	'	'
Document Fiscal Year Focus	'2014	'	'
Document Fiscal Period Focus	'Q2	'	'
Amendment Flag	'false	'	'
Entity Common Stock, Shares Outstanding	'	8,029,353	'
Entity Well-known Seasoned Issuer	'No	'	'
Entity Voluntary Filers	'No	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Public Float	'	'	$58,700,000

Consolidated_Balance_Sheets_Un

Consolidated Balance Sheets (Unaudited) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS	'	'
Cash and cash equivalents	$24,260	$21,307
Restricted cash	4,550	5,077
Real estate held for sale	20,233	18,133
Real estate under development	93,973	76,891
Land available for development	21,351	21,404
Real estate held for investment, net	178,577	182,530
Investment in unconsolidated affiliates	3,520	4,427
Other assets	17,068	17,174
Total assets	363,532	346,943
LIABILITIES AND EQUITY	'	'
Accounts payable	6,133	5,143
Accrued liabilities	6,617	9,360
Debt	168,937	151,332
Other liabilities and deferred gain	12,996	11,792
Total liabilities	194,683	177,627
Commitments and contingencies	'	'
Stratus stockholders’ equity:	'	'
Common stock	91	91
Capital in excess of par value of common stock	203,944	203,724
Accumulated deficit	-59,408	-60,724
Accumulated other comprehensive loss	-326	-22
Common stock held in treasury	-20,275	-19,448
Total Stratus stockholders’ equity	124,026	123,621
Noncontrolling interests in subsidiaries	44,823	45,695
Total equity	168,849	169,316
Total liabilities and equity	$363,532	$346,943

Consolidated_Statements_of_Inc

Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenues:	'	'	'	'
Real estate operations	$6,824	$28,043	$12,255	$46,905
Hotel	10,560	9,816	21,372	19,895
Entertainment	3,513	3,424	9,000	6,632
Commercial leasing	1,624	1,242	3,193	2,552
Total revenues	22,521	42,525	45,820	75,984
Cost of sales:	'	'	'	'
Real estate operations	4,682	23,833	8,500	39,785
Hotel	7,641	7,538	15,273	14,812
Entertainment	2,515	2,979	6,536	5,435
Commercial leasing	703	685	1,404	1,347
Depreciation	2,225	2,308	4,472	4,538
Total cost of sales	17,766	37,343	36,185	65,917
Insurance settlement	-46	-1,785	-576	-1,785
General and administrative expenses	1,959	2,014	4,021	3,778
Total costs and expenses	19,679	37,572	39,630	67,910
Operating income	2,842	4,953	6,190	8,074
Interest expense, net	-974	-2,008	-1,823	-4,307
Loss on interest rate cap agreement	-170	0	-251	0
Other income, net	3	95	22	1,345
Income before income taxes and equity in unconsolidated affiliates' income (loss)	1,701	3,040	4,138	5,112
Equity in unconsolidated affiliates' (loss) income	-243	149	438	111
Provision for income taxes	-194	-222	-420	-425
Net income	1,264	2,967	4,156	4,798
Net income attributable to noncontrolling interests in subsidiaries	-1,045	-2,335	-2,840	-3,013
Net income attributable to Stratus common stock	$219	$632	$1,316	$1,785
Basic and diluted net income per share attributable to Stratus common stock	$0.03	$0.08	$0.16	$0.22
Weighted-average shares of common stock outstanding:	'	'	'	'
Basic	8,030	8,099	8,040	8,102
Diluted	8,068	8,131	8,085	8,133

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) Statement (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Consolidated Statements of Comprehensive Income (Loss) [Abstract]	'	'	'	'
Net income	$1,264	$2,967	$4,156	$4,798
Other comprehensive loss, net of taxes:	'	'	'	'
Loss on interest rate swap agreement	-229	0	-435	0
Other comprehensive loss	-229	0	-435	0
Total comprehensive income	1,035	2,967	3,721	4,798
Total comprehensive income attributable to noncontrolling interests	-975	-2,335	-2,709	-3,013
Total comprehensive income attributable to Stratus common stock	$60	$632	$1,012	$1,785

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash flow from operating activities:	'	'
Net income	$4,156	$4,798
Adjustments to reconcile net income to net cash (used in) provided by operating activities:	'	'
Depreciation	4,472	4,538
Cost of real estate sold	6,081	31,375
Stock-based compensation	220	157
Equity in unconsolidated affiliates' income	-438	-111
Deposits	-101	-113
Purchases and development of real estate properties	-24,817	-8,728
Recovery of land previously sold	0	-485
Municipal utility district reimbursement	0	208
Decrease (increase) in other assets	1,093	-12,631
(Decrease) increase in accounts payable, accrued liabilities and other	-1,233	1,366
Net cash (used in) provided by operating activities	-10,567	20,374
Cash flow from investing activities:	'	'
Capital expenditures	-953	-632
Return of investment in (investment in) unconsolidated affiliates	-1,345	700
Net cash provided by (used in) investing activities	392	-1,332
Cash flow from financing activities:	'	'
Borrowings from credit facility	23,500	9,000
Payments on credit facility	-6,828	-23,368
Borrowings from project loans	6,000	1,568
Payments on project and term loans	-5,067	-443
Noncontrolling interests distributions	-3,581	-103
Repurchase of treasury stock	-637	-623
Net payments for stock-based awards	-190	-72
Financing costs	-69	0
Net cash provided by (used in) financing activities	13,128	-14,041
Net increase in cash and cash equivalents	2,953	5,001
Cash and cash equivalents at beginning of year	21,307	12,784
Cash and cash equivalents at end of period	$24,260	$17,785

Consolidated_Statements_of_Equ

Consolidated Statements of Equity (Unaudited) (USD $)	Total	Total Stratus Stockholders' Equity [Member]	Common Stock [Member]	Capital in Excess of Par Value [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Common Stock Held in Treasury [Member]	Noncontrolling Interests in Subsidiaries [Member]
In Thousands, except Share data, unless otherwise specified
Balance at Dec. 31, 2012	$208,895	$121,687	$90	$203,298	($63,309)	$0	($18,392)	$87,208
Balance (in shares) at Dec. 31, 2012	'	'	9,037,000	'	'	'	940,000	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'	'
Common stock repurchases	-623	-623	0	0	0	0	-623	0
Common stock repurchases (in shares)	'	'	0	'	'	'	52,000	'
Exercised and issued stock-based awards	26	26	1	25	0	0	0	0
Exercised and issued stock-based awards (in shares)	'	'	31,000	'	'	'	0	'
Stock-based compensation	157	157	0	157	0	0	0	0
Tender of shares for stock-based awards	-99	-99	0	0	0	0	-99	0
Tender of shares for stock-based awards (in shares)	'	'	0	'	'	'	8,000	'
Noncontrolling interests distributions	-14,328	0	0	0	0	0	0	-14,328
Total comprehensive income (loss)	4,798	1,785	0	0	1,785	0	0	3,013
Balance at Jun. 30, 2013	198,826	122,933	91	203,480	-61,524	0	-19,114	75,893
Balance (in shares) at Jun. 30, 2013	'	'	9,068,000	'	'	'	1,000,000	'
Balance at Dec. 31, 2013	169,316	123,621	91	203,724	-60,724	-22	-19,448	45,695
Balance (in shares) at Dec. 31, 2013	'	'	9,076,000	'	'	'	1,030,000	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'	'
Common stock repurchases	-637	-637	0	0	0	0	-637	0
Common stock repurchases (in shares)	'	'	0	'	'	'	37,000	'
Exercised and issued stock-based awards	0	0	0	0	0	0	0	0
Exercised and issued stock-based awards (in shares)	'	'	31,000	'	'	'	0	'
Stock-based compensation	220	220	0	220	0	0	0	0
Tender of shares for stock-based awards	-190	-190	0	0	0	0	-190	0
Tender of shares for stock-based awards (in shares)	'	'	0	'	'	'	11,000	'
Noncontrolling interests distributions	-3,581	0	0	0	0	0	0	-3,581
Total comprehensive income (loss)	3,721	1,012	0	0	1,316	-304	0	2,709
Balance at Jun. 30, 2014	$168,849	$124,026	$91	$203,944	($59,408)	($326)	($20,275)	$44,823
Balance (in shares) at Jun. 30, 2014	'	'	9,107,000	'	'	'	1,078,000	'

General_Information_Unaudited

General Information (Unaudited)	6 Months Ended
	Jun. 30, 2014
General Information [Abstract]	'
General Information [Text Block]	'
	GENERAL
	The accompanying unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2013, included in Stratus Properties Inc.’s (Stratus) Annual Report on Form 10-K (Stratus 2013 Form 10-K) filed with the Securities and Exchange Commission. In the opinion of management, the accompanying consolidated financial statements reflect all adjustments (consisting only of normal recurring items) considered necessary for a fair statement of the results for the second-quarter periods. Operating results for the three-month and six-month periods ended June 30, 2014, are not necessarily indicative of the results that may be expected for the year ending December 31, 2014.

Earnings_Per_Share_Unaudited

Earnings Per Share (Unaudited)	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	EARNINGS PER SHARE
	Stratus’ basic net income per share of common stock was calculated by dividing the net income attributable to Stratus common stock by the weighted-average shares of common stock outstanding during the second-quarter and six-month periods. Following is a reconciliation of net income and weighted-average shares of common stock outstanding for purposes of calculating diluted net income per share (in thousands, except per share amounts):
		Three Months Ended							Six Months Ended
		June 30,							June 30,
		2014			2013				2014			2013
	Net income	$	1,264		$	2,967			$	4,156		$	4,798
	Net income attributable to noncontrolling interests in subsidiaries	(1,045		)	(2,335		)		(2,840		)	(3,013		)
	Net income attributable to Stratus common stock	$	219		$	632			$	1,316		$	1,785
	Weighted-average shares of common stock outstanding	8,030			8,099				8,040			8,102
	Add shares issuable upon exercise or vesting of:
	Dilutive stock options	15			8			a	15			7			a
	Restricted stock units	23			24				30			24
	Weighted-average shares of common stock outstanding for purposes of calculating diluted net income per share	8,068			8,131				8,085			8,133
	Diluted net income per share attributable to Stratus common stock	$	0.03		$	0.08			$	0.16		$	0.22
	a. Excludes shares of common stock associated with outstanding stock options with exercise prices less than the average market price of Stratus' common stock that were anti-dilutive based on the treasury stock method totaling approximately 1,300 shares for second-quarter 2013 and 1,900 shares for the first six months of 2013.
	Outstanding stock options with exercise prices greater than the average market price for Stratus' common stock during the period are excluded from the computation of diluted net income per share of common stock. Excluded were approximately 28,100 stock options with a weighted-average exercise price of $27.20 for the second quarter and first six months of 2014, approximately 63,100 stock options with a weighted-average exercise price of $21.00 per option for second-quarter 2013 and approximately 65,600 stock options with a weighted-average exercise price of $20.69 for the first six months of 2013.

Joint_Venture_With_CanyonJohns

Joint Venture With Canyon-Johnson Urban Fund II, L.P. (Unaudited)	6 Months Ended
	Jun. 30, 2014
Joint Venture With Canyon-Johnson Urban Fund II, L.P. [Abstract]	'
Joint Venture With Canyon-Johnson Urban Fund II, L.P. [Text Block]	'
	JOINT VENTURE WITH CANYON-JOHNSON URBAN FUND II, L.P.
	Stratus and Canyon-Johnson Urban Fund II, L.P. (Canyon-Johnson) are participants in a joint venture, CJUF II Stratus Block 21, LLC (the Block 21 Joint Venture), for a 36-story mixed-use development in downtown Austin, Texas, anchored by a W Hotel & Residences (the W Austin Hotel & Residences project). Stratus is the manager of, and has an approximate 40 percent interest in, the Block 21 Joint Venture, and Canyon-Johnson has an approximate 60 percent interest in the Block 21 Joint Venture. As of June 30, 2014, cumulative capital contributions totaled $71.9 million for Stratus and $94.0 million for Canyon-Johnson. Distributions in second-quarter 2014 totaled $1.9 million to Stratus and $2.5 million to Canyon-Johnson. As of June 30, 2014, inception-to-date distributions totaled $47.3 million for Stratus and $54.2 million for Canyon-Johnson. The Block 21 Joint Venture is consolidated in Stratus’ financial statements based on Stratus' assessment that the Block 21 Joint Venture is a variable interest entity (VIE) and that Stratus is the primary beneficiary. Stratus will continue to periodically evaluate which entity is the primary beneficiary of the Block 21 Joint Venture in accordance with applicable accounting guidance. See Note 2 of the Stratus 2013 Form 10-K for further discussion.
	Stratus’ consolidated balance sheets include the following assets and liabilities of the Block 21 Joint Venture (in thousands):
		June 30,		December 31,
		2014		2013
	Assets:
	Cash and cash equivalents	$	16,544	$	13,192
	Restricted cash	4,547		5,069
	Real estate held for sale	8,107		10,942
	Real estate held for investment, net	153,984		157,541
	Other assets	7,474		7,631
	Total assets	190,656		194,375
	Liabilities:
	Accounts payable	2,801		3,428
	Accrued liabilities	4,775		6,856
	Debt	99,017		99,754
	Other liabilities	6,021		4,761
	Total liabilities	112,614		114,799
	Net assets	$	78,042	$	79,576
	Profits and losses among partners in a real estate venture are allocated based on how changes in net assets of the venture would affect cash payments to the partners over the life of the venture and on its liquidation. The amount of the ultimate profits earned by the W Austin Hotel & Residences project will affect the ultimate profit sharing ratios because of provisions in the joint venture agreement, which would require Stratus to return certain previously received distributions to Canyon-Johnson under certain circumstances. Because of the uncertainty of the ultimate profits and, therefore, profit-sharing ratios, the W Austin Hotel & Residences project’s cumulative profits or losses are allocated based on a hypothetical liquidation of the Block 21 Joint Venture’s net assets as of each balance sheet date. As of June 30, 2014, the cumulative earnings for the W Austin Hotel & Residences project were allocated based on 42 percent for Stratus and 58 percent for Canyon-Johnson.

Joint_Venture_with_LCHM_Holdin

Joint Venture with LCHM Holdings, LLC (Notes)	6 Months Ended
	Jun. 30, 2014
Joint Venture with LCHM Holdings, LLC [Abstract]	'
Joint Venture 2 [Text Block]	'
	LCHM HOLDINGS, LLC
	In 2011, Stratus entered into a joint venture (the Parkside Village Joint Venture) with Moffett Holdings, LLC (Moffett Holdings) for the development of Parkside Village, a retail project in the Circle C Community. On March 3, 2014, Moffett Holdings redeemed and purchased the membership interest in Moffett Holdings held by LCHM Holdings, LLC (LCHM Holdings). In connection with the redemption, (1) LCHM Holdings received the 625,000 shares of Stratus common stock held by Moffett Holdings and (2) LCHM Holdings entered into an assignment and assumption agreement pursuant to which Moffett Holdings assigned to LCHM Holdings its rights and obligations under the Investor Rights Agreement between Moffett Holdings and Stratus dated as of March 15, 2012. See Note 3 of the Stratus 2013 Form 10-K for further discussion.

Fair_Value_Measurements_Unaudi

Fair Value Measurements (Unaudited)	6 Months Ended
	Jun. 30, 2014
Fair Value Measurements [Abstract]	'
Fair Value Measurements [Text Block]	'
	FAIR VALUE MEASUREMENTS
	Fair value accounting guidance includes a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 inputs) and the lowest priority to unobservable inputs (Level 3 inputs).
	The carrying value for certain Stratus financial instruments (i.e., cash and cash equivalents, restricted cash, accounts payable and accrued liabilities) approximates fair value because of their short-term nature and generally negligible credit losses. A summary of the carrying amount and fair value of Stratus' other financial instruments follows (in thousands):
		June 30, 2014				December 31, 2013
		Carrying		Fair		Carrying		Fair
		Value		Value		Value		Value
	Assets:
	Interest rate cap agreement	$	100	$	100	$	351	$	351
	Liabilities:
	Interest rate swap agreement	467		467		32		32
	Debt	168,937		170,319		151,332		151,584
	Interest Rate Cap Agreement. On September 30, 2013, the Block 21 Joint Venture paid $0.5 million to enter into an interest rate cap agreement, which caps the one-month London Interbank Offered Rate (LIBOR), the variable rate in the Bank of America loan agreement (the BoA Loan) relating to the W Austin Hotel & Residences project, at 1 percent for the first year the BoA Loan is outstanding, 1.5 percent for the second year and 2 percent for the third year. Stratus uses an interest rate pricing model that relies on market observable inputs such as LIBOR to measure the fair value of the interest rate cap agreement. Stratus also evaluated the counterparty credit risk associated with the interest rate cap agreement, which is considered a Level 3 input, but did not consider such risk to be significant. Therefore, the interest rate cap agreement is classified within Level 2 of the fair value hierarchy.
	Interest Rate Swap Agreement. On December 13, 2013, the Parkside Village Joint Venture entered into an interest rate swap agreement with Comerica Bank that effectively converts the Parkside Village loan's variable rate from one-month LIBOR to a fixed rate of 2.3 percent. With the interest rate swap agreement in place, the Parkside Village Joint Venture's interest cost on the Parkside Village loan will be 4.8 percent through the December 31, 2020, maturity date. Stratus also evaluated the counterparty credit risk associated with the interest rate swap agreement, which is considered a Level 3 input, but did not consider such risk to be significant. Therefore, the interest rate swap agreement is classified within Level 2 of the fair value hierarchy.
	Debt. Stratus' debt is recorded at cost and is not actively traded. Fair value is estimated based on discounted future expected cash flows at estimated current market interest rates. Accordingly, Stratus' debt is classified within Level 2 of the fair value hierarchy. The fair value of debt does not represent the amounts that will ultimately be paid upon the maturities of the loans.

Debt_and_Equity_Transactions_U

Debt and Equity Transactions (Unaudited)	6 Months Ended
	Jun. 30, 2014
Capitalization, Long-term Debt and Equity [Abstract]	'
Debt and Equity Transactions [Text Block]	'
	AND EQUITY TRANSACTIONS
	Barton Creek Village Term Loan. On June 27, 2014, Stratus entered into a $6 million term loan agreement with PlainsCapital Bank (the PlainsCapital loan). The PlainsCapital loan matures on June 27, 2024, and is secured by assets at Barton Creek Village. The interest rate is 4.19 percent and payments of principal and interest are due monthly. As required by the PlainsCapital loan, $4.3 million of the proceeds were used to fully repay the existing Barton Creek Village loan, which was scheduled to mature on June 30, 2014.
	Interest Expense and Capitalization. Interest expense (before capitalized interest) totaled $1.9 million for second-quarter 2014, $3.0 million for second-quarter 2013, $3.6 million for the six months ended June 30, 2014, and $6.0 million for the six months ended June 30, 2013. Stratus' capitalized interest costs totaled $1.0 million for each of the second quarters of 2014 and 2013, $1.8 million for the six months ended June 30, 2014, and $1.7 million for the six months ended June 30, 2013. Capitalized interest costs for the 2014 and 2013 periods primarily related to development activities at properties in Barton Creek, Circle C and Lakeway, Texas.
	Common Stock Repurchases. During the six months ended June 30, 2014, Stratus purchased 36,900 shares of its common stock for $0.6 million ($17.26 per share). Stratus obtained lender approval for these repurchases. See Note 9 of the Stratus 2013 Form 10-K for further discussion of common stock repurchases permitted under Stratus' debt agreements.

Income_Taxes_Unaudited

Income Taxes (Unaudited)	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes [Text Block]	'
	INCOME TAXES
	Stratus’ accounting policy for and other information regarding its income taxes is further described in Notes 1 and 8 of the Stratus 2013 Form 10-K.
	Stratus evaluated the recoverability of its deferred tax assets and considered available positive and negative evidence, giving greater weight to losses in recent years, the absence of taxable income in the carry-back period and uncertainty regarding projected future financial results. As a result, Stratus concluded that there was not sufficient positive evidence supporting the realizability of its deferred tax assets beyond an amount totaling $0.3 million at June 30, 2014, and December 31, 2013.
	Stratus’ future results of operations may be negatively impacted by an inability to realize a tax benefit for future tax losses or for items that will generate additional deferred tax assets. Stratus’ future results of operations may be favorably impacted by reversals of valuation allowances if Stratus is able to demonstrate sufficient positive evidence that its deferred tax assets will be realized.
	The difference between Stratus’ consolidated effective income tax rate for the six months of 2014 and 2013, and the U.S. federal statutory tax rate of 35 percent was primarily attributable to the realization of deferred tax assets.

Business_Segments_Unaudited

Business Segments (Unaudited)	6 Months Ended
	Jun. 30, 2014
Segment Reporting [Abstract]	'
Business Segments [Text Block]	'
	BUSINESS SEGMENTS
	Stratus currently has four operating segments: Real Estate Operations, Hotel, Entertainment and Commercial Leasing.
	The Real Estate Operations segment is comprised of Stratus’ real estate assets (developed, under development and undeveloped), which consists of its properties in the Barton Creek community, the Circle C Community, Lantana, and Lakeway, Texas, and the condominium units at the W Austin Hotel & Residences project.
	The Hotel segment includes the W Austin Hotel located at the W Austin Hotel & Residences project.
	The Entertainment segment includes ACL Live, a live music and entertainment venue and production studio at the W Austin Hotel & Residences project. In addition to hosting concerts and private events, this venue is the home of Austin City Limits, a television program showcasing popular music legends. The Entertainment segment also includes revenues and costs associated with events hosted at other venues, and the results of the Stageside Productions joint venture with Pedernales Entertainment LLC.
	The Commercial Leasing segment includes the office and retail space at the W Austin Hotel & Residences project, a retail building and a bank building in Barton Creek Village, and 5700 Slaughter and Parkside Village in the Circle C Community.
	Stratus uses operating income or loss to measure the performance of each segment. Stratus allocates parent company general and administrative expenses that do not directly relate to a particular operating segment between the Real Estate Operations and Commercial Leasing segments based on projected annual revenues for each segment. General and administrative expenses related to the W Austin Hotel & Residences project are allocated to the Real Estate Operations, Hotel, Entertainment and Commercial Leasing segments based on projected annual revenues for the W Austin Hotel & Residences project. The following segment information reflects management’s determinations that may not be indicative of what actual financial performance of each segment would be if it were an independent entity.
	Segment data presented below was prepared on the same basis as Stratus’ consolidated financial statements (in thousands).
		Real Estate			Hotel		Entertainment		Commercial Leasing			Eliminations and Otherb			Total
		Operationsa
	Three Months Ended June 30, 2014:
	Revenues:
	Unaffiliated customers	$	6,824		$	10,560	$	3,513	$	1,624		$	—		$	22,521
	Intersegment	24			99		11		132			(266		)	—
	Cost of sales, excluding depreciation	4,696			7,642		2,598		727			(122		)	15,541
	Depreciation	57			1,457		311		438			(38		)	2,225
	Insurance settlement	(46		)	—		—		—			—			(46		)
	General and administrative expenses	1,465			143		52		445			(146		)	1,959
	Operating income	$	676		$	1,417	$	563	$	146		$	40		$	2,842
	Capital expendituresc	$	16,826		$	27	$	—	$	438		$	—		$	17,291
	Total assets at June 30, 2014	156,604			113,048		50,054		49,587			(5,761		)	363,532
	Three Months Ended June 30, 2013:
	Revenues:
	Unaffiliated customers	$	28,043		$	9,816	$	3,424	$	1,242		$	—		$	42,525
	Intersegment	26			50		15		150			(241		)	—
	Cost of sales, excluding depreciation	23,861			7,532		3,000		705			(63		)	35,035
	Depreciation	59			1,558		310		418			(37		)	2,308
	Insurance settlement	(1,785		)	—		—		—			—			(1,785		)
	General and administrative expenses	1,661			116		51		325			(139		)	2,014
	Operating income (loss)	$	4,273		$	660	$	78	$	(56	)	$	(2	)	$	4,953
	Capital expendituresc	$	5,060		$	2	$	110	$	450		$	—		$	5,622
	Total assets at June 30, 2013	165,902			116,750		45,804		46,820			(6,082		)	369,194
	Six Months Ended June 30, 2014:
	Revenues:
	Unaffiliated customers	$	12,255		$	21,372	$	9,000	$	3,193		$	—		$	45,820
	Intersegment	47			229		18		255			(549		)	—
	Cost of sales, excluding depreciation	8,566			15,274		6,667		1,452			(246		)	31,713
	Depreciation	113			2,930		630		873			(74		)	4,472
	Insurance settlement	(576		)	—		—		—			—			(576		)
	General and administrative expenses	3,093			215		79		946			(312		)	4,021
	Operating income	$	1,106		$	3,182	$	1,642	$	177		$	83		$	6,190
	Capital expendituresc	$	24,817		$	76	$	32	$	845		$	—		$	25,770
	Six Months Ended June 30, 2013:
	Revenues:
	Unaffiliated customers	$	46,905		$	19,895	$	6,632	$	2,552		$	—		$	75,984
	Intersegment	40			132		23		281			(476		)	—
	Cost of sales, excluding depreciation	39,841			14,812		5,489		1,387			(150		)	61,379
	Depreciation	123			3,035		617		837			(74		)	4,538
	Insurance settlement	(1,785		)	—		—		—			—			(1,785		)
	General and administrative expenses	3,164			190		74		627			(277		)	3,778
	Operating income (loss)	$	5,602		$	1,990	$	475	$	(18	)	$	25		$	8,074
	Capital expendituresc	$	8,728		$	3	$	119	$	510		$	—		$	9,360
	a.	Includes sales commissions and other revenues together with related expenses.
	b.	Includes eliminations of intersegment amounts, including the deferred development fee income between Stratus and the Block 21 Joint Venture (see Note 3).
	c.	Also includes purchases and development of residential real estate held for sale.

New_Accounting_Standards_Unaud

New Accounting Standards (Unaudited) (Notes)	6 Months Ended
	Jun. 30, 2014
New Accounting Standards [Abstract]	'
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	'
	NEW ACCOUNTING STANDARDS
	In May 2014, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU) which outlines a single comprehensive model and supersedes most of the current revenue recognition guidance. For public entities, this ASU is effective for annual reporting periods beginning after December 15, 2016, and interim periods within that reporting period. Early adoption is not permitted. Stratus is evaluating this new guidance, but does not expect it to have a significant impact on its current revenue recognition policies.
	In April 2014, FASB issued an ASU which revises the guidance for reporting discontinued operations. This ASU amends the definition of a discontinued operation and requires additional disclosures about disposal transactions that do not meet the definition of a discontinued operation. For public entities, this ASU is effective for annual periods beginning on or after December 15, 2014, and interim periods within that year. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. Stratus adopted this ASU in first-quarter 2014.

Subsequent_Events_Unaudited_No

Subsequent Events (Unaudited) (Notes)	6 Months Ended
	Jun. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events [Text Block]	'
	SUBSEQUENT EVENTS
	Slaughter Term Loan. On July 18, 2014, Stratus entered into a $7 million term loan agreement with United Heritage Credit Union (the United loan). The United loan matures on July 31, 2024, and is secured by 5700 Slaughter. The interest rate is 4.50 percent through July 31, 2019. Beginning August 1, 2019, and continuing through the maturity date, interest will accrue at the greater of the Prime Interest Rate plus 1.25 percent or 4.95 percent. As required by the United loan, $5.0 million of the proceeds were used to fully repay the existing 5700 Slaughter term loan, which was scheduled to mature on January 31, 2015.
	Stratus evaluated events after June 30, 2014, and through the date the financial statements were issued, and determined any events or transactions occurring during this period that would require recognition or disclosure are appropriately addressed in these financial statements.

Earnings_Per_Share_Unaudited_T

Earnings Per Share (Unaudited) (Tables)	6 Months Ended
	Jun. 30, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
	Following is a reconciliation of net income and weighted-average shares of common stock outstanding for purposes of calculating diluted net income per share (in thousands, except per share amounts):
		Three Months Ended							Six Months Ended
		June 30,							June 30,
		2014			2013				2014			2013
	Net income	$	1,264		$	2,967			$	4,156		$	4,798
	Net income attributable to noncontrolling interests in subsidiaries	(1,045		)	(2,335		)		(2,840		)	(3,013		)
	Net income attributable to Stratus common stock	$	219		$	632			$	1,316		$	1,785
	Weighted-average shares of common stock outstanding	8,030			8,099				8,040			8,102
	Add shares issuable upon exercise or vesting of:
	Dilutive stock options	15			8			a	15			7			a
	Restricted stock units	23			24				30			24
	Weighted-average shares of common stock outstanding for purposes of calculating diluted net income per share	8,068			8,131				8,085			8,133
	Diluted net income per share attributable to Stratus common stock	$	0.03		$	0.08			$	0.16		$	0.22
	a. Excludes shares of common stock associated with outstanding stock options with exercise prices less than the average market price of Stratus' common stock that were anti-dilutive based on the treasury stock method totaling approximately 1,300 shares for second-quarter 2013 and 1,900 shares for the first six months of 2013.

Joint_Venture_With_CanyonJohns1

Joint Venture With Canyon-Johnson Urban Fund II, L.P. (Unaudited) (Tables)	6 Months Ended
	Jun. 30, 2014
Joint Venture With Canyon-Johnson Urban Fund II, L.P. [Abstract]	'
Noncontrolling Interest Assets and Liabilities [Table Text Block]	'
	Stratus’ consolidated balance sheets include the following assets and liabilities of the Block 21 Joint Venture (in thousands):
		June 30,		December 31,
		2014		2013
	Assets:
	Cash and cash equivalents	$	16,544	$	13,192
	Restricted cash	4,547		5,069
	Real estate held for sale	8,107		10,942
	Real estate held for investment, net	153,984		157,541
	Other assets	7,474		7,631
	Total assets	190,656		194,375
	Liabilities:
	Accounts payable	2,801		3,428
	Accrued liabilities	4,775		6,856
	Debt	99,017		99,754
	Other liabilities	6,021		4,761
	Total liabilities	112,614		114,799
	Net assets	$	78,042	$	79,576

Fair_Value_Measurements_Unaudi1

Fair Value Measurements (Unaudited) (Tables)	6 Months Ended
	Jun. 30, 2014
Fair Value Measurements [Abstract]	'
Fair Value, by Balance Sheet Grouping [Table Text Block]	'
	A summary of the carrying amount and fair value of Stratus' other financial instruments follows (in thousands):
		June 30, 2014				December 31, 2013
		Carrying		Fair		Carrying		Fair
		Value		Value		Value		Value
	Assets:
	Interest rate cap agreement	$	100	$	100	$	351	$	351
	Liabilities:
	Interest rate swap agreement	467		467		32		32
	Debt	168,937		170,319		151,332		151,584

Business_Segments_Unaudited_Ta

Business Segments (Unaudited) (Tables)	6 Months Ended
	Jun. 30, 2014
Segment Reporting [Abstract]	'
Schedule of Segment Reporting Information by Segment [Table Text Block]	'
	Segment data presented below was prepared on the same basis as Stratus’ consolidated financial statements (in thousands).
		Real Estate			Hotel		Entertainment		Commercial Leasing			Eliminations and Otherb			Total
		Operationsa
	Three Months Ended June 30, 2014:
	Revenues:
	Unaffiliated customers	$	6,824		$	10,560	$	3,513	$	1,624		$	—		$	22,521
	Intersegment	24			99		11		132			(266		)	—
	Cost of sales, excluding depreciation	4,696			7,642		2,598		727			(122		)	15,541
	Depreciation	57			1,457		311		438			(38		)	2,225
	Insurance settlement	(46		)	—		—		—			—			(46		)
	General and administrative expenses	1,465			143		52		445			(146		)	1,959
	Operating income	$	676		$	1,417	$	563	$	146		$	40		$	2,842
	Capital expendituresc	$	16,826		$	27	$	—	$	438		$	—		$	17,291
	Total assets at June 30, 2014	156,604			113,048		50,054		49,587			(5,761		)	363,532
	Three Months Ended June 30, 2013:
	Revenues:
	Unaffiliated customers	$	28,043		$	9,816	$	3,424	$	1,242		$	—		$	42,525
	Intersegment	26			50		15		150			(241		)	—
	Cost of sales, excluding depreciation	23,861			7,532		3,000		705			(63		)	35,035
	Depreciation	59			1,558		310		418			(37		)	2,308
	Insurance settlement	(1,785		)	—		—		—			—			(1,785		)
	General and administrative expenses	1,661			116		51		325			(139		)	2,014
	Operating income (loss)	$	4,273		$	660	$	78	$	(56	)	$	(2	)	$	4,953
	Capital expendituresc	$	5,060		$	2	$	110	$	450		$	—		$	5,622
	Total assets at June 30, 2013	165,902			116,750		45,804		46,820			(6,082		)	369,194
	Six Months Ended June 30, 2014:
	Revenues:
	Unaffiliated customers	$	12,255		$	21,372	$	9,000	$	3,193		$	—		$	45,820
	Intersegment	47			229		18		255			(549		)	—
	Cost of sales, excluding depreciation	8,566			15,274		6,667		1,452			(246		)	31,713
	Depreciation	113			2,930		630		873			(74		)	4,472
	Insurance settlement	(576		)	—		—		—			—			(576		)
	General and administrative expenses	3,093			215		79		946			(312		)	4,021
	Operating income	$	1,106		$	3,182	$	1,642	$	177		$	83		$	6,190
	Capital expendituresc	$	24,817		$	76	$	32	$	845		$	—		$	25,770
	Six Months Ended June 30, 2013:
	Revenues:
	Unaffiliated customers	$	46,905		$	19,895	$	6,632	$	2,552		$	—		$	75,984
	Intersegment	40			132		23		281			(476		)	—
	Cost of sales, excluding depreciation	39,841			14,812		5,489		1,387			(150		)	61,379
	Depreciation	123			3,035		617		837			(74		)	4,538
	Insurance settlement	(1,785		)	—		—		—			—			(1,785		)
	General and administrative expenses	3,164			190		74		627			(277		)	3,778
	Operating income (loss)	$	5,602		$	1,990	$	475	$	(18	)	$	25		$	8,074
	Capital expendituresc	$	8,728		$	3	$	119	$	510		$	—		$	9,360
	a.	Includes sales commissions and other revenues together with related expenses.
	b.	Includes eliminations of intersegment amounts, including the deferred development fee income between Stratus and the Block 21 Joint Venture (see Note 3).
	c.	Also includes purchases and development of residential real estate held for sale.

Earnings_Per_Share_Unaudited_D

Earnings Per Share (Unaudited) (Details) (USD $)	3 Months Ended			6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013		Jun. 30, 2014	Jun. 30, 2013
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]	'	'		'	'
Net income	$1,264	$2,967		$4,156	$4,798
Net income attributable to noncontrolling interests in subsidiaries	-1,045	-2,335		-2,840	-3,013
Net income attributable to Stratus common stock	$219	$632		$1,316	$1,785
Weighted-average shares of common stock outstanding	8,030,000	8,099,000		8,040,000	8,102,000
Weighted-average shares of common stock outstanding for purposes of calculating diluted net income per share	8,068,000	8,131,000		8,085,000	8,133,000
Diluted net income per share attributable to Stratus common stock	$0.03	$0.08		$0.16	$0.22
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	'	1,300		'	1,900
Outstanding Stock Options With Exercise Prices Greater Than Average Market Price Of Common Stock	28,100	63,100		28,100	65,600
Weighted Average Exercise Price Of Outstanding Stock Options	$27.20	$21		$27.20	$20.69
Stock Options [Member]	'	'		'	'
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]	'	'		'	'
Incremental Common Shares Attributable to Share-based Payment Arrangements	15,000	8,000	[1]	15,000	7,000	[1]
Restricted Stock Units (RSUs) [Member]	'	'		'	'
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]	'	'		'	'
Incremental Common Shares Attributable to Share-based Payment Arrangements	23,000	24,000		30,000	24,000
[1]	Excludes shares of common stock associated with outstanding stock options with exercise prices less than the average market price of Stratus' common stock that were anti-dilutive based on the treasury stock method totaling approximately 1,300 shares for second-quarter 2013 and 1,900 shares for the first six months of 2013.

Joint_Venture_With_CanyonJohns2

Joint Venture With Canyon-Johnson Urban Fund II, L.P. (Unaudited) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2014
				W Austin Hotel & Residences [Member]	W Austin Hotel & Residences [Member]	W Austin Hotel & Residences [Member]	W Austin Hotel & Residences [Member]
						Stratus Properties Inc [Member]	Canyon Johnson Urban Fund II, L.P. [Member]
Noncontrolling Interest, Ownership Percentage by Parent	'	'	'	'	'	40.00%	'
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	'	'	'	'	'	'	60.00%
Cumulative Capital Contributions	'	'	'	'	'	$71,900,000	$94,000,000
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	'	'	'	'	'	1,900,000	2,500,000
Minority Interest Cumulative Distributions to Noncontrolling Interest Holders	'	'	'	'	'	47,300,000	54,200,000
Assets:	'	'	'	'	'	'	'
Cash and cash equivalents	24,260,000	21,307,000	'	16,544,000	13,192,000	'	'
Restricted cash	4,550,000	5,077,000	'	4,547,000	5,069,000	'	'
Real estate held for sale	20,233,000	18,133,000	'	8,107,000	10,942,000	'	'
Real estate held for investment, net	178,577,000	182,530,000	'	153,984,000	157,541,000	'	'
Other assets	17,068,000	17,174,000	'	7,474,000	7,631,000	'	'
Total assets	363,532,000	346,943,000	369,194,000	190,656,000	194,375,000	'	'
Liabilities:	'	'	'	'	'	'	'
Accounts payable	6,133,000	5,143,000	'	2,801,000	3,428,000	'	'
Accrued liabilities	6,617,000	9,360,000	'	4,775,000	6,856,000	'	'
Debt	168,937,000	151,332,000	'	99,017,000	99,754,000	'	'
Other liabilities	12,996,000	11,792,000	'	6,021,000	4,761,000	'	'
Total liabilities	194,683,000	177,627,000	'	112,614,000	114,799,000	'	'
Net assets	'	'	'	$78,042,000	$79,576,000	'	'
General Partners' Cumulative Earnings	'	'	'	'	'	42.00%	58.00%

Joint_Venture_with_LCHM_Holdin1

Joint Venture with LCHM Holdings, LLC (Details) (LCHM Holdings, LLC [Member])	3 Months Ended
	Mar. 31, 2014
LCHM Holdings, LLC [Member]	'
Variable Interest Entity [Line Items]	'
Acquisitions and Disposals, Date of Transaction for Acquisition or Disposal	3-Mar-14
Shares Transferred	625,000

Fair_Value_Measurements_Unaudi2

Fair Value Measurements (Unaudited) (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2012	Dec. 31, 2012	Dec. 31, 2012
	Carrying Amount, Fair Value Disclosure [Member]	Carrying Amount, Fair Value Disclosure [Member]	Fair Value, Inputs, Level 2 [Member]	Fair Value, Inputs, Level 2 [Member]	Interest Rate Swap [Member]	Interest Rate Cap [Member]	Interest Rate Cap [Member]	Interest Rate Cap [Member]	Interest Rate Cap [Member]
			Estimate of Fair Value, Fair Value Disclosure [Member]	Estimate of Fair Value, Fair Value Disclosure [Member]	Parkside Village Loan [Member]	Bank of America Loan [Member]	Bank of America Loan [Member]	Bank of America Loan [Member]	Bank of America Loan [Member]
							Year 1 [Member]	Year 2 [Member]	Year 3 [Member]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]	'	'	'	'	'	'	'	'	'
Interest rate cap agreement	$100,000	$351,000	$100,000	$351,000	'	'	'	'	'
Interest rate swap agreement	467,000	32,000	467,000	32,000	'	'	'	'	'
Debt	168,937,000	151,332,000	170,319,000	151,584,000	'	'	'	'	'
Debt Instrument, Issuance Date	'	'	'	'	13-Dec-13	30-Sep-13	'	'	'
Payment for Interest Rate Cap Agreement	'	'	'	'	'	$500,000	'	'	'
Debt Instrument, Description of Variable Rate Basis	'	'	'	'	'LIBOR	'LIBOR	'	'	'
Debt Instrument, Basis Spread on Variable Rate	'	'	'	'	2.30%	'	1.00%	1.50%	2.00%
Debt Instrument, Interest Rate, Effective Percentage	'	'	'	'	4.80%	'	'	'	'
Debt Instrument, Maturity Date	'	'	'	'	31-Dec-20	'	'	'	'

Debt_and_Equity_Transactions_U1

Debt and Equity Transactions (Unaudited) (Details) (USD $)	3 Months Ended		6 Months Ended		3 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Mar. 31, 2014
					Barton Creek Village [Member]	Barton Creek Village [Member]
Debt Instrument [Line Items]	'	'	'	'	'	'
Debt Instrument, Issuance Date	'	'	'	'	27-Jun-14	'
Debt Instrument, Face Amount	'	'	'	'	$6,000,000	'
Debt Instrument, Maturity Date	'	'	'	'	27-Jun-24	30-Jun-14
Debt Instrument, Interest Rate, Stated Percentage	'	'	'	'	4.19%	'
Extinguishment of Debt, Amount	'	'	'	'	4,300,000	'
Interest Costs Incurred	1,900,000	3,000,000	3,600,000	6,000,000	'	'
Interest Costs Capitalized	1,000,000	1,000,000	1,800,000	1,700,000	'	'
Stock Repurchased During Period, Shares	'	'	36,900	'	'	'
Stock Repurchased During Period, Value	'	'	$600,000	'	'	'
Treasury Stock Acquired, Average Cost Per Share	'	'	$17.26	'	'	'

Income_Taxes_Unaudited_Details

Income Taxes (Unaudited) (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Income Tax Disclosure [Abstract]	'	'	'
Deferred Tax Assets, Net of Valuation Allowance	$0.30	'	$0.30
Federal Statutory Income Tax Rate	35.00%	35.00%	'

Business_Segments_Unaudited_De

Business Segments (Unaudited) (Details) (USD $)	3 Months Ended				6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013		Dec. 31, 2013
Revenues:	'		'		'		'		'
Unaffiliated customers	$22,521		$42,525		$45,820		$75,984		'
Intersegment	0		0		0		0		'
Cost of sales, excluding depreciation	15,541		35,035		31,713		61,379		'
Depreciation	2,225		2,308		4,472		4,538		'
Insurance settlement	-46		-1,785		-576		-1,785		'
General and administrative expenses	1,959		2,014		4,021		3,778		'
Operating income (loss)	2,842		4,953		6,190		8,074		'
Capital expenditures	17,291	[1]	5,622	[1]	25,770	[1]	9,360	[1]	'
Total assets	363,532		369,194		363,532		369,194		346,943
Real Estate Operations [Member]	'		'		'		'		'
Revenues:	'		'		'		'		'
Unaffiliated customers	6,824	[2]	28,043	[2]	12,255	[2]	46,905	[2]	'
Intersegment	24	[2]	26	[2]	47	[2]	40	[2]	'
Cost of sales, excluding depreciation	4,696	[2]	23,861	[2]	8,566	[2]	39,841	[2]	'
Depreciation	57	[2]	59	[2]	113	[2]	123	[2]	'
Insurance settlement	-46	[2]	-1,785	[2]	-576	[2]	-1,785	[2]	'
General and administrative expenses	1,465	[2]	1,661	[2]	3,093	[2]	3,164	[2]	'
Operating income (loss)	676	[2]	4,273	[2]	1,106	[2]	5,602	[2]	'
Capital expenditures	16,826	[1],[2]	5,060	[1],[2]	24,817	[1],[2]	8,728	[1],[2]	'
Total assets	156,604	[2]	165,902	[2]	156,604	[2]	165,902	[2]	'
Hotel [Member]	'		'		'		'		'
Revenues:	'		'		'		'		'
Unaffiliated customers	10,560		9,816		21,372		19,895		'
Intersegment	99		50		229		132		'
Cost of sales, excluding depreciation	7,642		7,532		15,274		14,812		'
Depreciation	1,457		1,558		2,930		3,035		'
Insurance settlement	0		0		0		0		'
General and administrative expenses	143		116		215		190		'
Operating income (loss)	1,417		660		3,182		1,990		'
Capital expenditures	27	[1]	2	[1]	76	[1]	3	[1]	'
Total assets	113,048		116,750		113,048		116,750		'
Entertainment [Member]	'		'		'		'		'
Revenues:	'		'		'		'		'
Unaffiliated customers	3,513		3,424		9,000		6,632		'
Intersegment	11		15		18		23		'
Cost of sales, excluding depreciation	2,598		3,000		6,667		5,489		'
Depreciation	311		310		630		617		'
Insurance settlement	0		0		0		0		'
General and administrative expenses	52		51		79		74		'
Operating income (loss)	563		78		1,642		475		'
Capital expenditures	0	[1]	110	[1]	32	[1]	119	[1]	'
Total assets	50,054		45,804		50,054		45,804		'
Commercial Leasing [Member]	'		'		'		'		'
Revenues:	'		'		'		'		'
Unaffiliated customers	1,624		1,242		3,193		2,552		'
Intersegment	132		150		255		281		'
Cost of sales, excluding depreciation	727		705		1,452		1,387		'
Depreciation	438		418		873		837		'
Insurance settlement	0		0		0		0		'
General and administrative expenses	445		325		946		627		'
Operating income (loss)	146		-56		177		-18		'
Capital expenditures	438	[1]	450	[1]	845	[1]	510	[1]	'
Total assets	49,587		46,820		49,587		46,820		'
Eliminations and Other [Member]	'		'		'		'		'
Revenues:	'		'		'		'		'
Unaffiliated customers	0	[3]	0	[3]	0	[3]	0	[3]	'
Intersegment	-266	[3]	-241	[3]	-549	[3]	-476	[3]	'
Cost of sales, excluding depreciation	-122	[3]	-63	[3]	-246	[3]	-150	[3]	'
Depreciation	-38	[3]	-37	[3]	-74	[3]	-74	[3]	'
Insurance settlement	0	[3]	0	[3]	0	[3]	0	[3]	'
General and administrative expenses	-146	[3]	-139	[3]	-312	[3]	-277	[3]	'
Operating income (loss)	40	[3]	-2	[3]	83	[3]	25	[3]	'
Capital expenditures	0	[1],[3]	0	[1],[3]	0	[1],[3]	0	[1],[3]	'
Total assets	($5,761)	[3]	($6,082)	[3]	($5,761)	[3]	($6,082)	[3]	'
[1]	Also includes purchases and development of residential real estate held for sale.
[2]	Includes sales commissions and other revenues together with related expenses.
[3]	Includes eliminations of intersegment amounts, including the deferred development fee income between Stratus and the Block 21 Joint Venture (see Note 3).

Subsequent_Events_Unaudited_De

Subsequent Events (Unaudited) (Details) (Slaughter Term Loan [Member], USD $)	6 Months Ended	1 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Aug. 31, 2019	Jul. 31, 2014	Aug. 31, 2019	Aug. 01, 2019
		Subsequent Event [Member]	Subsequent Event [Member]	Option 1 [Member]	Option 2 [Member]
				Subsequent Event [Member]	Subsequent Event [Member]
Subsequent Event [Line Items]	'	'	'	'	'
Debt Instrument, Issuance Date	'	'	18-Jul-14	'	'
Interest Rate, Effective Date	'	1-Aug-19	31-Jul-19	'	'
Debt Instrument, Description of Variable Rate Basis	'	'	'	'Prime Interest Rate	'
Debt Instrument, Basis Spread on Variable Rate	'	'	'	1.25%	'
Debt Instrument, Face Amount	'	'	$7	'	'
Debt Instrument, Maturity Date	31-Jan-15	'	31-Jul-24	'	'
Debt Instrument, Interest Rate, Stated Percentage	'	'	4.50%	'	4.95%
Extinguishment of Debt, Amount	'	'	$5	'	'