INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of income tax expense benefit

Current expense (benefit) is attributable to (dollars in thousands):

	2016			2015		2014
Income (loss) from continuing operations	$	46		$	517	$	(20,413	)
Income (loss) from discontinued operations		(1	)		483		20,413
The full 2013 tax (benefit) to ARL comes from MRHI	$	45		$	1,000	$	—

Schedule of federal income tax expense

The Federal income tax expense differs from the amount computed by applying the corporate tax rate of 35% to the income before income taxes as follows (dollars in thousands):

	2016			2015			2014
Computed “expected” income tax (benefit) expense	$	(827	)	$	(800	)	$	14,061
Book to tax differences in gains on sale of property		(2,757	)		(3,744	)		(2,350	)
Book to tax differences of depreciation and amortization		(497	)		(193	)		(1,415	)
Other book to tax differences		4,126			5,737			(10,296	)
Total	$	45		$	1,000		$	—
Alternative minimum tax	$	—		$	—		$	—

Schedule of tax effects of temporary differences and net operating loss carry forwards that give rise to the deferred tax assets

The tax effects of temporary differences and net operating loss carry forwards that give rise to the deferred tax assets are presented below (amounts in thousands):

	2016			2015			2014
Net operating losses	$	64,048		$	67,112		$	74,357
AMT credits		2,418			2,751			2,201
Basis difference of:
Real estate holdings and equipment		(1,580	)		(11,197	)		10,337
Notes receivable		10,756			6,475			6,946
Investments		(13,775	)		(14,966	)		(14,950	)
Notes payable		2,700			3,455			8,189
Deferred gains		21,462			19,868			18,086
Total		86,029			73,498			105,166
Deferred tax valuation allowance		(86,029	)		(73,498	)		(105,166	)
Net deferred tax asset	$	—		$	—		$	—