SEGMENT REPORTING

v3.6.0.2

SEGMENT REPORTING	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING At the end of September 2016, a new management team was put in place to drive the strategic priorities of the Company in its continued transformation from a financial services company to a leisure and entertainment company. The chief operating decision maker (“CODM”) is our Chief Executive Officer, and in the fourth quarter of 2016, Drive Shack Inc. changed its reportable segment disclosures to reflect the manner in which our CODM manages our businesses, including resource allocation and performance assessment. The Company currently has four reportable segments: (i) Traditional Golf properties, (ii) Entertainment Golf venues, (iii) Debt Investments, and (iv) corporate. The CODM reviews discrete financial information for each reportable segment to manage the Company. Drive Shack Inc.’s Traditional Golf business is one of the largest owners and operators of golf properties in the United States. As of December 31, 2016, Drive Shack Inc. owned, leased or managed 78 properties across 13 states.  Additionally, Drive Shack Inc. plans to open a chain of next-generation Entertainment Golf venues across the United States and internationally which combine golf, competition, dining and fun.  Drive Shack Inc.’s Debt Investment segment consists primarily of loans and securities which the Company plans to monetize as part of its transformation to a leisure and entertainment company. The corporate segment consists primarily of interest income on short-term investments, general and administrative expenses, interest expense on the junior subordinated notes payable (Note 11) and management fees pursuant to the Management Agreement (Note 13). Summary financial data on Drive Shack Inc.’s segments is given below, together with reconciliation to the same data for Drive Shack Inc. as a whole:   Traditional Golf   Entertainment Golf   Debt Investments (A)(B)   Corporate   Total Year Ended December 31, 2016                   Revenues                 Golf course operations $ 226,255   $ —   $ —   $ —   $ 226,255 Sales of food and beverages 72,625   —   —   —   72,625 Total revenues 298,880   —   —   —   298,880 Operating costs                 — Operating expenses (C) 254,353   —   —   —   254,353 Cost of sales - food and beverages 21,593   —   —   —   21,593 General and administrative expense 2,708   12   93   6,675   9,488 General and administrative expense - acquisition and transaction expenses (D) 1,594   1,555   —   1,205   4,354 Management fee to affiliate —   —   —   10,704   10,704 Depreciation and amortization 26,496   —   —   —   26,496 Impairment (reversal) 6,232   —   4,149   —   10,381 Realized/unrealized (gain) loss on investments (294 )   —   979   —   685 Total operating costs 312,682   1,567   5,221   18,584   338,054 Operating loss (13,802 )   (1,567 )   (5,221 )   (18,584 )   (39,174 ) Other income (expenses)                 — Interest and investment income 134   —   91,107   50   91,291 Interest expense (12,470 )   —   (38,112 )   (2,286 )   (52,868 ) Loss on extinguishment of debt (780 )   —   —   —   (780 ) Gain on deconsolidation —   —   82,130   —   82,130 Other loss, net (2,379 )   —   (695 )   —   (3,074 ) Total other income (expenses) (15,495 )   —   134,430   (2,236 )   116,699 Income tax expense 188   1   —   —   189 Income (loss) from continuing operations (29,485 )   (1,568 )   129,209   (20,820 )   77,336 Income from discontinued operations, net of tax —   —   —   —   — Net income (loss) (29,485 )   (1,568 )   129,209   (20,820 )   77,336 Preferred dividends —   —   —   (5,580 )   (5,580 ) Net income attributable to noncontrolling interest (257 )   —   —   —   (257 ) Income (loss) applicable to common stockholders $ (29,742 )   $ (1,568 )   $ 129,209   $ (26,400 )   $ 71,499                     December 31, 2016                   Investments $ 282,064   $ 659   $ 704,122   $ —   $ 986,845 Cash and restricted cash 24,484   —   192   121,868   146,544 Other assets 34,487   766   3,219   97   38,569 Total assets 341,035   1,425   707,533   121,965   1,171,958 Debt, net 115,284   —   600,964   51,217   767,465 Other liabilities 170,718   1,116   2,293   12,299   186,426 Total liabilities 286,002   1,116   603,257   63,516   953,891 Preferred stock —   —   —   61,583   61,583 Noncontrolling interest —   —   —   —   — Equity (deficit) attributable to common stockholders $ 55,033   $ 309   $ 104,276   $ (3,134 )   $ 156,484                     Additions to investments in real estate during the year ended December 31, 2016 $ 11,912   $ 659   $ —   $ —   $ 12,571 Summary segment financial data (continued).   Traditional Golf   Entertainment Golf   Debt Investments (A)(B)   Corporate   Discontinued Operations   Eliminations   Total Year Ended December 31, 2015                           Revenues                           Golf course operations $ 224,419   $ —   $ —   $ —   $ —   $ —   $ 224,419 Sales of food and beverages 71,437   —   —   —   —   —   71,437 Total revenues 295,856   —   —   —   —   —   295,856 Operating costs                           Operating expenses (C) 254,553   —   —   —   —   —   254,553 Cost of sales - food and beverages 22,549   —   —   —   —   —   22,549 General and administrative expense 2,983   —   291   7,640   —   —   10,914 General and administrative expense - acquisition and transaction expenses (D) 1,364   —   60   (301 )   —   —   1,123 Management fee to affiliate —   —   —   10,692   —   —   10,692 Depreciation and amortization 28,682   —   —   (48 )   —   —   28,634 Impairment (reversal) —   —   11,896   —   —   —   11,896 Realized/unrealized (gain) loss on investments 9   —   (22,273 )   —   —   —   (22,264 ) Total operating costs 310,140   —   (10,026 )   17,983   —   —   318,097 Operating income (loss) (14,284 )   —   10,026   (17,983 )   —   —   (22,241 ) Other income (expenses)                           Interest and investment income 152   —   98,721   23   —   (3,005 )   95,891 Interest expense (16,520 )   —   (44,831 )   (3,783 )   —   3,005   (62,129 ) Gain on extinguishment of debt 14,818   —   488   —   —   —   15,306 Other income (loss), net (1,629 )   —   (3,999 )   54   —   —   (5,574 ) Inter-segment elimination 3,005   —   (3,005 )   —   —   —   — Total other income (expenses) (174 )   —   47,374   (3,706 )   —   —   43,494 Income tax expense 345   —   —   —   —   —   345 Income (loss) from continuing operations (14,803 )   —   57,400   (21,689 )   —   —   20,908 Income from discontinued operations, net of tax —   —   —   —   646   —   646 Net income (loss) (14,803 )   —   57,400   (21,689 )   646   —   21,554 Preferred dividends —   —   —   (5,580 )   —   —   (5,580 ) Net loss attributable to noncontrolling interest 293   —   —   —   —   —   293 Income (loss) applicable to common stockholders $ (14,510 )   $ —   $ 57,400   $ (27,269 )   $ 646   $ —   $ 16,267                             December 31, 2015                           Investments, net $ 302,379   $ —   $ 715,596   $ —   $ —   $ —   $ 1,017,975 Cash and restricted cash 19,981   —   1,210   28,929   —   —   50,120 Other assets 33,765   —   365,713   409   —   —   399,887 Total assets 356,125   —   1,082,519   29,338   —   —   1,467,982 Debt, net 81,091   —   838,526   51,225   —   —   970,842 Other liabilities 166,973   —   107,154   12,891   —   —   287,018 Total liabilities 248,064   —   945,680   64,116   —   —   1,257,860 Preferred stock —   —   —   61,583   —   —   61,583 Noncontrolling interest (257 )   —   —   —   —   —   (257 ) Equity (deficit) attributable to common stockholders $ 108,318   $ —   $ 136,839   $ (96,361 )   $ —   $ —   $ 148,796                             Additions to investment in real estate for the year ended December 31, 2015 $ 7,637   $ —   $ —   $ —   $ —   $ —   $ 7,637 Summary segment financial data (continued).                               Traditional Golf   Entertainment Golf   Debt Investments (A)(B)   Corporate   Discontinued Operations   Eliminations   Total Year Ended December 31, 2014                           Revenues                           Golf course operations $ 222,983   $ —   $ —   $ —   $ —   $ —   $ 222,983 Sales of food and beverages 68,554   —   —   —   —   —   68,554 Total revenues 291,537   —   —   —   —   —   291,537 Operating costs                           Operating expenses (C) 263,338   —   —   —   —   —   263,338 Cost of sales - food and beverages 21,037   —   —   —   —   —   21,037 General and administrative expense 1,435   —   1,215   7,722   —   —   10,372 General and administrative expense - acquisition and transaction expenses (D) 1,941   —   2,919   619   —   —   5,479 Management fee to affiliate —   —   —   21,039   —   —   21,039 Depreciation and amortization 26,880   —   —   87   —   —   26,967 Impairment (reversal) —   —   (2,419 )   —   —   —   (2,419 ) Realized/unrealized (gain) loss on investments —   —   (69,593 )   —   —   —   (69,593 ) Total operating costs 314,631   —   (67,878 )   29,467   —   —   276,220 Operating income (loss) (23,094 )   —   67,878   (29,467 )   —   —   15,317 Other income (expenses)                           Interest and investment income 147   —   135,031   44   —   (7,595 )   127,627 Interest expense (19,783 )   —   (64,016 )   (3,818 )   —   7,595   (80,022 ) Loss on extinguishment of debt —   —   (3,410 )   —   —   —   (3,410 ) Other income, net 5,863   —   2,416   —   —   —   8,279 Inter-segment elimination 5,734   —   (5,734 )   —   —   —   — Total other income (expenses) (8,039 )   —   64,287   (3,774 )   —   —   52,474 Income tax expense 208   —   —   —   —   —   208 Income (loss) from continuing operations (31,341 )   —   132,165   (33,241 )   —   —   67,583 Loss from discontinued operations, net of tax —   —   —   —   (35,189 )   —   (35,189 ) Net income (loss) (31,341 )   —   132,165   (33,241 )   (35,189 )   —   32,394 Preferred dividends —   —   —   (5,580 )   —   —   (5,580 ) Net loss attributable to noncontrolling interest 329   —   —   —   523   —   852 Income (loss) applicable to common stockholders $ (31,012 )   $ —   $ 132,165   $ (38,821 )   $ (34,666 )   $ —   $ 27,666                             Additions to investment in real estate during the year ended December 31, 2014 $ 7,925   $ —   $ —   $ —   $ 307,529   $ —   $ 315,454 (A) Assets held within non-recourse structures, are not available to satisfy obligations outside of such financings, except to the extent net cash flow distributions are received from such structures. Furthermore, creditors or beneficial interest holders of these structures generally have no recourse to the general credit of the Company. Therefore, the exposure to the economic losses from such structures generally is limited to invested equity in them and economically their book value cannot be less than zero. Therefore, impairment recorded in excess of Drive Shack Inc.’s investment, which results in negative GAAP book value for a given non-recourse financing structure, cannot economically be incurred and will eventually be reversed through amortization, sales at gains, or as gains at the deconsolidation or termination of such non-recourse financing structure. (B) The following table summarizes the investments and debt in the Debt Investments segment:   December 31, 2016   December 31, 2015   Investments   Debt   Investments   Debt Non-Recourse Outstanding Face Amount   Carrying Value   Outstanding Face Amount   Carrying Value   Outstanding Face Amount     Carrying Value   Outstanding Face Amount     Carrying Value Subprime mortgage loans subject to call options —   —   —   —   380,806     380,806   380,806     380,806 Other                                   Unlevered real estate securities 4,000   1,950   —   —   107,242 (E)   59,034   97,917     97,605 Levered real estate securities 619,808   627,304   600,964   600,964   102,660 (F)   105,963   348,625 (F)   348,625 Real estate related and other loans (G) 74,695   55,612   —   —   174,995     149,198   11,660     11,490 Other investments N/A   19,256   —   —   N/A     20,595   —     —   $ 698,503   $ 704,122   $ 600,964   $ 600,964   $ 765,703     $ 715,596   $ 839,008     $ 838,526 (C) Operating expenses includes rental expenses recorded under operating leases for carts and equipment in the amount of $3.8 million, $4.6 million and $5.0 million for the years ended December 31, 2016, 2015 and 2014, respectively. (D) Acquisition and transaction expense includes costs related to completed and potential acquisitions and transactions which may include advisory, legal, accounting, valuation and other professional or consulting fees. Transaction expense also includes costs which do not qualify for capitalization associated with the development of new entertainment golf venues. (E) Excludes eight securities with zero value, which had an aggregate face amount of $116.0 million. The Company sold these securities during 2016. (F) These investments represent purchases that were traded on December 31, 2015 but settled on January 13, 2016. The debts represent repurchase agreements collateralized by sold investments that were traded on December 31, 2015 and settled on January 13, 2016. See Note 5 for additional detail. (G) Excludes two mezzanine loans with zero value, which had an aggregate face amount of $17.8 million and two corporate loans with zero value, which had an aggregate face amount of $45.7 million.