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 March 31, 2019 and December 31, 2018 and for the three months ended March 31, 2019 and 2018 is summarized as follows (in thousands):



	March 31,		December 31,
Balance Sheet Items	2019		2018
Total Assets
Mortgage and REO Legacy portfolio and other operations	$	67,956	$	67,658
Hospitality and entertainment operations	58,964		52,753
Corporate and other	22,886		23,228
Consolidated total	$	149,806	$	143,639

	Three Months Ended March 31,
Cash Flow Items	2019		2018
Expenditures for additions to long-lived assets
Mortgage and REO Legacy portfolio and other operations	$	—	$	987
Hospitality and entertainment operations	4,667		160
Corporate and other	—		16
Consolidated total	$	4,667	$	1,163



	Three Months Ended March 31, 2019
Income Statement Items	Mortgage and REO Legacy Portfolio and Other Operations		Hospitality and Entertainment Operations			Corporate and Other			Consolidated

Revenues
Mortgage loan income	$	650	$	—		$	—		$	650
Operating property, management fees, and other	2		314			66			382
Total revenue	652		314			66			1,032

Total operating expenses	490		3,049			2,339			5,878

Other (income) expense
Unrealized loss on derivatives	—		167			—			167
Total other (income) expense	—		167			—			167

Total costs and expense, net	490		3,216			2,339			6,045
Income (loss) before income taxes	162		(2,902		)	(2,273		)	(5,013		)
(Provision for) benefit from income taxes	—		—			—			—
Net income (loss)	$	162	$	(2,902	)	$	(2,273	)	$	(5,013	)



	Three Months Ended March 31, 2018
Income Statement Items	Mortgage and REO Legacy Portfolio and Other Operations			Hospitality and Entertainment Operations			Corporate and Other			Consolidated

Revenues
Mortgage loan income	$	625		$	—		$	—		$	625
Operating property, management fees, and other	—			1,566			35			1,601
Total revenue	625			1,566			35			2,226

Total operating expenses	856			3,195			2,222			6,273

Other (income) expense
Gain on disposal of assets, net	(253		)	—			—			(253		)
Total other income	(253		)	—			—			(253		)

Total costs and expense, net	603			3,195			2,222			6,020
Income (loss) from continuing operations, before income taxes	22			(1,629		)	(2,187		)	(3,794		)
(Provision for) benefit from income taxes	—			—			—			—
Net income (loss)	$	22		$	(1,629	)	$	(2,187	)	$	(3,794	)