IMPAIRMENT (REVERSAL) (Tables)
|12 Months Ended|
Dec. 31, 2016
|Other than Temporary Impairment Losses, Investments [Abstract]|
|Summary of amounts recorded in the statement of operations for OTTI||
The following table summarizes the amounts Drive Shack Inc. recorded in the Consolidated Statements of Operations:
Held for Sale Impairment: On December 2, 2016, the Company entered into a letter of intent to sell a golf property located in New Jersey. As of December 31, 2016, the Company classified the property as held for sale in accordance with applicable accounting standards for long lived assets. The carrying value of the property exceeded the fair value less anticipated costs to sell. As a result, the Company recognized an impairment loss totaling approximately $3.6 million as of December 31, 2016. The fair value measurement was based on the pricing in the letter of intent and determined that the significant inputs used to value this real estate investment falls within Level 3 for fair value reporting. See Note 2 and Note 7 for additional information.
Summarization of information determined to be disclosed concerning other than temporary impairments (OTTI) of investments reported in the statement of income.
No definition available.