Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.10.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2018
Accounting Policies [Abstract]  
Schedule of realized/unrealized loss on investments and other income (loss), net
These items are comprised of the following:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
Loss on settlement of real estate securities

 

 
$

 
$
2,803

Unrealized loss on securities, intent-to-sell

 

 

 
558

(Gain) on settlement of loans held-for-sale

 
(12
)
 

 
(12
)
Realized loss on settlement of TBAs, net

 
6,915

 

 
4,441

Unrealized (gain) on non-hedge derivative instruments
(89
)
 
(3,616
)
 
(331
)
 
(1,114
)
Realized and unrealized (gain) loss on investments
$
(89
)
 
$
3,287

 
$
(331
)
 
$
6,676

 
 
 
 
 
 
 
 
Loss on lease modifications and terminations
$
(25
)
 
$
(2
)
 
$
(796
)
 
$
(160
)
Loss on extinguishment of debt, net
(89
)
 
(36
)
 
(141
)
 
(182
)
Collateral management fee income, net
146

 
126

 
301

 
248

Equity in earnings of equity method investments
387

 
383

 
766

 
762

Gain on disposal of long-lived assets
882

 

 
676

 
26

Other (loss) income (A)
(5,000
)
 
(178
)
 
(4,911
)
 
(524
)
Other (loss) income, net
$
(3,699
)
 
$
293

 
$
(4,105
)
 
$
170


(A)
During the three months ended June 30, 2018, the Company recorded a net loss of approximately $4.9 million related to the settlement of a legal dispute and a related discharge of liabilities assumed by the counterparty to the settlement. See Notes 13 and 15 for additional information.
Schedule of useful lives of property, plant, and equipment
Depreciation is calculated using the straight-line method based on the following estimated useful lives:
Buildings and improvements
10-30 years
Capital leases - equipment
3-7 years
Furniture, fixtures and equipment
2-7 years
Schedule of amortization period
Amortization of all intangible assets is calculated using the straight-line method based on the following estimated useful lives:
Trade name
30 years
Leasehold intangibles
2-26 years
Management contracts
2-26 years
Internally-developed software
5-10 years
Membership base
7 years
Liquor licenses
Nonamortizable
Schedule of other current assets
The following table summarizes the Company's other current assets:
 
 
June 30, 2018
 
December 31, 2017
Loans, held-for-sale, net (A)
 
$

 
$
147

Prepaid expenses
 
4,280

 
3,081

Deposits
 
6,850

 
3,469

Inventory
 
4,986

 
4,722

Miscellaneous current assets, net
 
9,055

 
10,149

Other current assets
 
$
25,171

 
$
21,568

(A)
During the six months ended June 30, 2018, the Company recorded an impairment of $0.2 million on a corporate loan.
Schedule of other assets
The following table summarizes the Company's other assets:
 
 
June 30, 2018
 
December 31, 2017
Prepaid expenses
 
$
7

 
$
6

Deposits
 
2,114

 
2,213

Derivative assets
 
617

 
286

Miscellaneous assets, net
 
6,303

 
6,144

Other assets
 
$
9,041

 
$
8,649

Schedule of other current liabilities
The following table summarizes the Company's other current liabilities:
 
 
June 30, 2018
 
December 31, 2017
Security deposits payable
 
$
7,068

 
$
6,602

Accrued rent
 
2,950

 
2,160

Due to affiliates
 

 
1,786

Dividends payable
 
930

 
930

Miscellaneous current liabilities
 
4,197

 
11,118

Other current liabilities
 
$
15,145

 
$
22,596

Schedule of other liabilities
The following table summarizes the Company's other liabilities:
 
 
June 30, 2018
 
December 31, 2017
Security deposits payable
 
$
238

 
$
66

Unfavorable leasehold interests
 
2,963

 
3,374

Accrued rent
 
1,057

 
1,057

Miscellaneous liabilities
 
1,222

 
349

Other liabilities
 
$
5,480

 
$
4,846