The St. Joe Company is a real estate development and operating company. The Company owns land concentrated primarily between Tallahassee and Destin, Florida. The Company has residential and commercial land-use entitlements in hand or in process. The Company operates in four operating segments: residential real estate; commercial real estate; resorts, leisure and leasing operations, and forestry. The Company's residential real estate segment typically plans and develops mixed-use resort, primary and seasonal residential communities of various sizes, primarily on the Company's existing land. The Company's commercial real estate segment plans, develops, manages and sells real estate, including commercial operating property, for commercial purposes. The Company's resorts, leisure and leasing operations segment includes its resort and leisure businesses, and its leasing operations. The Company's forestry segment focuses on the management of its timber holdings in Northwest Florida.