Cover Page - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2021 |
Mar. 18, 2022 |
Jun. 30, 2021 |
|
| Document Information | |||
| Document Type | 10-K/A | ||
| Document Annual Report | true | ||
| Document Period End Date | Dec. 31, 2021 | ||
| Current Fiscal Year End Date | --12-31 | ||
| Document Transition Report | false | ||
| Entity File Number | 001-31458 | ||
| Entity Registrant Name | Drive Shack Inc. | ||
| Entity Incorporation, State or Country Code | MD | ||
| Entity Tax Identification Number | 81-0559116 | ||
| Entity Address, Street | 10670 N. Central Expressway | ||
| Entity Address, Suite | Suite 700 | ||
| Entity Address, City | Dallas | ||
| Entity Address, State | TX | ||
| Entity Address, Postal Zip Code | 75231 | ||
| City Area Code | 646 | ||
| Local Phone Number | 585-5591 | ||
| Entity Well-known Seasoned Issuer | No | ||
| Entity Voluntary Filers | No | ||
| Entity Current Reporting Status | Yes | ||
| Entity Interactive Data Current | Yes | ||
| Entity Filer Category | Accelerated Filer | ||
| Entity Small Business | false | ||
| Entity Emerging Growth Company | false | ||
| ICFR Auditor Attestation Flag | true | ||
| Entity Shell Company | false | ||
| Entity Public Float | $ 304,802,737 | ||
| Entity Common Stock, Shares Outstanding | 92,093,425 | ||
| Documents Incorporated by Reference | None. | ||
| Amendment Description | This Amendment No. 1 to Form 10-K (this “Amendment”) amends the Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (the “2021 Form 10-K”) originally filed on March 18, 2022 (the “Original Filing” and, together with this Amendment, the “Annual Report on Form 10-K”) by Drive Shack Inc., a Maryland corporation (“Drive Shack,” the “Company,” “we,” or “us”).Subsequent to the issuance of the 2021 Form 10-K, management reevaluated, in consultation with our external auditor, Ernst & Young LLP (“EY”), certain controls relating to long-lived asset impairment testing. As a result of this reevaluation, management has subsequently identified a deficiency in controls related to the design and operating effectiveness of the Company’s internal controls associated with the identification and calculation of long-lived asset impairments and has further concluded that such deficiency represented a material weakness as of December 31, 2021. A “material weakness” is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements would not be prevented or detected on a timely basis. As a result of the material weakness, there is more than a remote likelihood that a material misstatement in our annual or interim financial statements would not be prevented or detected. However, the material weakness did not result in a restatement of our consolidated financial statements presented in this Amendment.This Amendment does not amend, update or change any other items or disclosures in the 2021 Form 10-K, except for Item 1A. Risk Factors, Note 17. Subsequent Events, Going Concern (Unaudited), Item 9A. Controls and Procedures, and the opinion on Internal Control Over Financial Reporting from our external auditor, EY, and accordingly, should be read in conjunction with the 2021 Form 10-K. The 2021 Form 10-K continues to speak as of the date of the 2021 Form 10-K, and we have not updated the disclosures contained therein to reflect any events which occurred at a date subsequent to the filing of the 2021 Form 10-K except as otherwise disclosed in this Amendment. | ||
| Entity Central Index Key | 0001175483 | ||
| Amendment Flag | true | ||
| Document Fiscal Period Focus | FY | ||
| Document Fiscal Year Focus | 2021 | ||
| Common Stock | |||
| Document Information | |||
| Title of each class: | Common Stock, $0.01 par value per share | ||
| Trading Symbol(s) | DS | ||
| Name of exchange on which registered: | NYSE | ||
| Series B Cumulative Redeemable Preferred Stock | |||
| Document Information | |||
| Title of each class: | 9.75% Series B Cumulative Redeemable Preferred Stock, $0.01 par value per share | ||
| Trading Symbol(s) | DS-PB | ||
| Name of exchange on which registered: | NYSE | ||
| Series C Cumulative Redeemable Preferred Stock | |||
| Document Information | |||
| Title of each class: | 8.05% Series C Cumulative Redeemable Preferred Stock, $0.01 par value per share | ||
| Trading Symbol(s) | DS-PC | ||
| Name of exchange on which registered: | NYSE | ||
| 8.375% Series D Preferred Stock | |||
| Document Information | |||
| Title of each class: | 8.375% Series D Cumulative Redeemable Preferred Stock, $0.01 par value per share | ||
| Trading Symbol(s) | DS-PD | ||
| Name of exchange on which registered: | NYSE |