Drive Shack Inc. Current report filing

DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2012

Assets and liabilities of discontinued operations were as follows:

	December 31,
	2012		2011
Assets:
Investments in excess mortgage servicing rights at fair value		245,036		43,971
Cash & Cash Equivalents		—		9
Other Assets		33		6
Total Assets		245,069		43,986

Liabilities:

Purchase price payable on investments in excess mortgage servicing rights		59		3,250
Accrued expenses and other liabilities		421		980
Total Liabilities		480		4,230

Net Assets		244,589		39,756

Results of operations from discontinued operations were as follows:

	Year Ended December 31,
	2012		2011		2010

Interest income		27,508		1,260		—
Interest expense		—		—		—
Net interest income		27,508		1,260		—

Impairment (Reversal)
Impairment of long-lived assets		—		—		260

Other Revenues
Rental income		—		136		427
Total other revenue		—		136		427
Other Income (Loss)
Gain (loss) on settlement of investments, net		—		61		—
Other income (loss)		17,421		367		27
Other income (loss)		17,421		428		27

Expenses
Property operating costs		26		177		295
General and administrative expenses		5,735		1,086		242
		5,761		1,263		537

Income (loss) from discontinued operations		39,168		561		(343	)