Investment in Mesquite

12 Months Ended

Feb. 28, 2015

Mesquite

Schedule of Equity Method Investments [Line Items]

Investment in Mesquite

Investment in Mesquite

Changes in the Company’s investment in Mesquite during 2016 and 2015 are as follows:

	2016			2015
Balance, beginning of year	$	4,282,422		$	4,244,222
Distributions received	(900,000		)	(269,000		)
Equity in net income of Mesquite	1,236,000			307,200
Balance, end of year	$	4,618,422		$	4,282,422

The Company did not record any impairment related to its equity method investment in Mesquite during 2016 and 2015.

The following tables present condensed financial information of Mesquite as of December 31, 2015 and 2014 and for the years then ended (in thousands).

	2015		2014
Balance Sheets
Current assets	$	16,521	$	14,504
Property and equipment, net	55,554		55,822
Other assets, net	3,031		4,889
Total assets	$	75,106	$	75,215
Current liabilities	$	16,387	$	12,048
Other liabilities	49,228		54,766
Members' equity	9,491		8,401
Total liabilities and members' equity	$	75,106	$	75,215

	2015		2014
Statements of Operations
Net operating revenues	$	98,113	$	94,892
Operating income	$	7,307	$	4,776
Net income	$	3,090	$	768