SEGMENT INFORMATION

Operating segments are defined as components of an enterprise that engage in business activity from which revenues are earned and expenses incurred for which discrete financial information is available that is evaluated regularly by our chief operating decision makers in deciding how to allocate resources and in assessing performance.

The information presented in our reportable segments tables that follow are based in part on internal allocations which involve management judgment. Substantially, all revenues recorded are from external customers. There is no material intersegment activity.

Condensed consolidated financial information for our reportable operating segments as of September 30, 2018 and December 31, 2017 and for the three and nine months ended September 30, 2018 and 2017 is summarized as follows (in thousands):



	September 30,		December 31,
Balance Sheet Items	2018		2017
Total Assets
Mortgage and REO - Legacy portfolio and other options	$	67,112	$	66,577
Hospitality and entertainment operations	44,877		39,337
Corporate and other	33,770		8,544
Consolidated total	$	145,759	$	114,458


	Nine months ended September 30,
Cash Flow Items	2018		2017
Expenditures for additions to long-lived assets
Mortgage and REO - Legacy portfolio and other options	$	2,321	$	733
Hospitality and entertainment operations	4,887		650
Corporate and other	23		388
Consolidated total	$	7,231	$	1,771



	Three months ended September 30, 2018
Income Statement Items	Mortgage and REO Legacy Portfolio and Other Operations			Hospitality and Entertainment Operations			Corporate and Other			Consolidated

Revenues
Mortgage loan income	$	709		$	—		$	—		$	709
Operating property, management fees, and other	3			2,082			32			2,117
Total Revenue	712			2,082			32			2,826

Total Operating Expenses	843			3,228			2,413			6,484

Other (income) expense
Gain on disposal of assets, net	(3,543		)	—			—			(3,543		)
Recovery of credit losses	—			—			—			—
Total Other (income)	(3,543		)	—			—			(3,543		)

Total Costs and expense, net	(2,700		)	3,228			2,413			2,941
Net Income (loss)	$	3,412		$	(1,146	)	$	(2,381	)	$	(115	)



	Three months ended September 30, 2017
Income Statement Items	Mortgage and REO Legacy Portfolio and Other Operations			Hospitality and Entertainment Operations			Corporate and Other			Consolidated

Revenues
Mortgage loan income	$	350		$	—		$	—		$	350
Operating property, management fees, and other	37			176			87			300
Total Revenue	387			176			87			650

Total Operating Expenses	901			197			2,507			3,605

Other (income) expense
Gain on disposal of assets, net	(321		)	—			—			(321		)
Recovery of credit losses	(6,070		)	—			—			(6,070		)
Impairment of Real Estate Owned	344			—			—			344
Equity loss from unconsolidated entities, net	68			—			—			68
Total Other (income)	(5,979		)	—			—			(5,979		)

Total Costs and expense, net	(5,078		)	197			2,507			(2,374		)
Income (loss) from continuing operations, before income taxes	5,465			(21		)	(2,420		)	3,024
Income (loss) from discontinued operations, net of tax	—			30			—			30
Net Income (loss)	$	5,465		$	9		$	(2,420	)	$	3,054



	Nine months ended September 30, 2018
Income Statement Items	Mortgage and REO Legacy Portfolio and Other Operations			Hospitality and Entertainment Operations			Corporate and Other			Consolidated

Revenues
Mortgage loan income	$	1,976		$	—		$	—		$	1,976
Operating property, management fees, and other	2			5,993			81			6,076
Total Revenue	1,978			5,993			81			8,052

Total Operating Expenses	2,256			9,440			6,877			18,573

Other (income) expense
Gain on disposal of assets, net	(3,938		)	—			—			(3,938		)
Recovery of credit losses	(175		)	—			—			(175		)
Total Other (income)	(4,113		)	—			—			(4,113		)

Total Costs and expense, net	(1,857		)	9,440			6,877			14,460
Net Income (loss)	$	3,835		$	(3,447	)	$	(6,796	)	$	(6,408	)



	Nine months ended September 30, 2017
Income Statement Items	Mortgage and REO Legacy Portfolio and Other Operations			Hospitality and Entertainment Operations			Corporate and Other			Consolidated

Revenues
Mortgage loan income	$	402		$	—		$	—		$	402
Operating property, management fees, and other	114			2,170			206			2,490
Total Revenue	516			2,170			206			2,892

Total Operating Expenses	3,302			1,700			7,824			12,826

Other (income) expense
Gain on disposal of assets, net	(1,867		)	(169		)	—			(2,036		)
Recovery of credit losses	(6,348		)	—			(60		)	(6,408		)
Impairment of Real Estate Owned, Net	344			—			—			344
Equity loss from unconsolidated entities, net	239			—			—			239
Total Other Income	(7,632		)	(169		)	(60		)	(7,861		)

Total Costs and expense, net	(4,330		)	1,531			7,764			4,965
Income (loss) from continuing operations, before income taxes	4,846			639			(7,558		)	(2,073		)
Income from discontinued operations, net of tax	—			4,766			—			4,766
Net Income (loss)	$	4,846		$	5,405		$	(7,558	)	$	2,693