Asset Impairments and Write-downs and Other Charges, Net

Included in the statements of operations for the Successor period June 17, 2011 through December 31, 2011, Predecessor period January 1, 2011 through June 16, 2011, and the years ended December 31, 2010 and 2009 are various charges related to impairments of goodwill, intangible assets and other assets, as well as write-downs and other charges, net. Write-downs and other charges, net includes gains or losses on asset disposals, severance expense and other non-routine transactions, excluding the effects of the Restructuring Transactions, which are reflected in the reorganization items in the consolidated statement of operations. Components of asset impairments and write-downs and other charges, net were as follows (amounts in thousands):



	Successor		Predecessors
	Station Casinos LLC		Station Casinos, Inc.		Green Valley Ranch Gaming, LLC		Station Casinos, Inc.			Green Valley Ranch Gaming, LLC		Station Casinos, Inc.		Green Valley Ranch Gaming, LLC
	Period June 17, 2011 Through December 31, 2011		Period January 1, 2011 Through June 16, 2011				Year Ended December 31, 2010					Year Ended December 31, 2009
Impairment of goodwill	$	—	$	—	$	—	$	60,386		$	—	$	181,785	$	—
Impairment of other intangible assets	$	—	$	—	$	—	$	4,704		$	—	$	255,263	$	—
Impairments of other assets:
Impairment of land held for development	$	2,100	$	—	$	—	$	114,378		$	—	$	617,383	$	—
Impairment of investments in joint ventures	—		—		—		16,267			—		30,003		—
Impairment of property and equipment	—		—		—		66,647			—		179,430		—
Impairment of Native American project costs and related capitalized interest	—		—		—		—			—		12,997		—
Other, net (a)	—		—		—		(362		)	—		—		—
	$	2,100	$	—	$	—	$	196,930		$	—	$	839,813	$	—
Write-downs and other charges, net:
Write-off of abandoned projects	$	—	$	—	$	—	$	—		$	—	$	2,362	$	—
Loss on disposal of assets, net	3,246		3,349		104		534			120		478		293
Gain (loss) on land disposition	—		—		—		(74		)	—		5,091		—
Severance expense	620		—		—		2,687			—		2,966		—
Legal settlement	—		—		—		6,200			—		—		—
Management agreement/lease termination	175		168		—		898			—		4,130		—
Reserve for note receivable from unconsolidated affiliate	—		—		—		—			—		5,261		—
Other charges	—		436		—		9,000			—		—		—
Write-off of debt offering and restructuring fees	—		—		—		—			9,089		519		—
Write-downs and other charges, net	$	4,041	$	3,953	$	104	$	19,245		$	9,209	$	20,807	$	293

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(a)	During 2010, STN recorded an impairment loss of $1.0 million related to a license right intangible and an associated net liability of approximately $0.4 million.

Write-off of Abandoned Projects

During the year ended December 31, 2009, primarily due to economic conditions, STN decided to abandon several projects at its properties that were in the developmental stage, and wrote off the capitalized costs that had been incurred related to these projects.

Management Agreement/Lease Termination

During the year ended December 31, 2010, STN recognized $0.9 million in lease termination expense, primarily related to certain restaurant facilities that had been leased to third party operators. During the year ended December 31, 2009, STN recognized lease termination expense of $3.1 million related to the termination of an equipment lease and $1.0 million related to leased office space no longer being utilized.

Reserve for Note Receivable from Unconsolidated Affiliate

During the year ended December 31, 2009, STN recognized an expense of $5.3 million related to its note receivable from GVR Predecessor. See Note 13 for additional information.

Write-off of Debt Offering and Restructuring Fees

Certain debt offering costs and restructuring costs incurred by the Predecessors during pre-petition periods were written off during the years ended December 31, 2010 and 2009.

Other Asset Write-offs

During the year ended December 31, 2010, STN wrote off $9 million in other assets as a result of the expiration of certain land purchase options.