Write-downs and Other Charges, Net

Write-downs and other charges, net include various charges to record net losses on asset disposals and non-routine transactions. Write-downs and other charges, net consisted of the following (amounts in thousands):



	Year Ended December 31,
	2015			2014			2013
(Gain) loss on disposal of assets, net	$	(187	)	$	19,723		$	9,447
Transaction-related costs	5,819			—			—
Severance expense	1,135			1,941			1,525
Other, net	895			(713		)	909
	$	7,662		$	20,951		$	11,881

During the year ended December 31, 2015, the Company sold certain parcels of land that were previously held for development, and recognized gains on sale totaling $6.7 million, which is included in (gain) loss on disposal of assets, net. The gain was offset by losses on disposal of various assets, including asset disposals related to remodeling projects.

Loss on disposal of assets for the year ended December 31, 2014 primarily represents the abandonment of certain assets, including an amphitheater and an outdoor water feature, as well as asset disposals related to various renovation projects.

Transaction-related costs include costs related to the Fertitta Entertainment Acquisition, as well as IPO-related advisory, legal and other costs that were not deferred as direct and incremental costs of the proposed IPO. At December 31, 2015, the Company had capitalized $1.8 million in deferred offering costs directly related to the registration statement on Form S-1, which is included in Other assets, net in the Consolidated Balance Sheet.