IMPAIRMENT AND OTHER LOSSES |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other than Temporary Impairment Losses, Investments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| IMPAIRMENT AND OTHER LOSSES |
IMPAIRMENT AND OTHER LOSSES
The following table summarizes the amounts the Company recorded in the Consolidated Statements of Operations:
Held-for-Sale Impairment: For the three months ended March 31, 2019, the Company recognized impairment losses and recorded accumulated impairment totaling approximately $1.0 million on two golf properties. The fair value measurements were based on expected selling prices, less costs to sell. The significant inputs used to value these real estate investments fall within Level 3 for fair value reporting.
Held-for-Use Impairment: For the three months ended March 31, 2020, the Company recorded impairment charges totaling $0.8 million for one property. For the three months ended March 31, 2019, the Company recorded impairment charges totaling $3.1 million for one golf property. The Company evaluated the recoverability of the carrying value of these assets using the income approach based on future assumptions of cash flows. As the fair value inputs utilized are unobservable, the Company determined that the significant inputs used to value these properties fall within Level 3 for fair value reporting.
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