PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Our operating properties carrying values consist of land and certain depreciable assets such as buildings, improvements, and furniture and equipment assets. A summary of these assets, at cost less accumulated depreciation and amortization, as of December 31, 2017 and 2016, follows (in thousands):



	December 31,			December 31,
	2017			2016*
Buildings and improvements	$	13,650		$	41,379
Furniture, fixtures and equipment	1,060			14,871
Computer equipment	6			17
Landscaping	—			264
Total depreciable assets	14,716			56,531
Less accumulated depreciation and amortization	(171		)	(8,997		)
Total depreciable assets, net	14,545			47,534
Land	4,920			41,200
Construction in progress	1,019			—
Property and equipment, net	$	20,484		$	88,734

* The 2016 amounts pertain to the Sedona Hotels which were sold in February 2017 and have been reclassified to assets of discontinued operations as of December 31, 2016 in the accompanying consolidated balance sheet.

In addition to these assets, the Company owns other property and equipment related primarily to our corporate activities, which consisted of the following at December 31, 2017 and 2016 (in thousands):



	December 31,			December 31,
	2017			2016
Furniture and equipment	$	30		$	1,105
Leasehold improvements	384			850
Computer and communications equipment	802			1,878
Other	—			28
Total cost basis	1,216			3,861
Less accumulated depreciation and amortization	(646		)	(3,577		)
Property and equipment, net	$	570		$	284

Depreciation and amortization on REO and corporate property and equipment is computed on a straight-line basis over the estimated useful life of the related assets, which range from 5 to 40 years. Depreciation and amortization expense recorded for our depreciable assets totaled $0.6 million and $4.0 million for the years ended December 31, 2017 and 2016, respectively.