On January 3, 2020, the Company sold substantially all of the assets of Oakmont Memorial Park, Oakmont Funeral Home, Redwood Chapel, Inspiration Chapel and Oakmont Crematory located in California pursuant to the terms of an asset sale agreement (the “Oakmont Agreement”) with Carriage Funeral Holdings, Inc. for an aggregate cash purchase price of $33.0 million (the “Oakmont Sale”). The divested assets consisted of one cemetery, one funeral home and certain related assets. The Oakmont Sale resulted in a gain of $24.4 million for the Company, which is included in the accompanying condensed consolidated statement of operations for the six months ended June 30, 2020. Net proceeds from the sale were used to redeem an aggregate $30.3 million principal amount of the Senior Secured Notes.

On April 7, 2020, the Company completed the sale of substantially all of the assets of the cemetery, funeral establishment and crematory commonly known as Olivet Memorial Park, Olivet Funeral and Cremation Services and Olivet Memorial Park & Crematory pursuant to the terms of an asset sale agreement (the “Olivet Agreement”) with Cypress Lawn Cemetery Association for a net cash purchase price of $24.3 million, subject to certain adjustments (the “Olivet Sale”), and the assumption of certain liabilities, including $17.1 million in land purchase obligations. The Olivet Sale resulted in a gain of $7.2 million for the Company, which is included in the accompanying condensed consolidated statements of operations for the three and six months ended June 30, 2020. The Company used net proceeds of $20.5 million to redeem additional Senior Secured Notes as required by the Indenture.

In addition, in March 2020, the Company entered into an asset sale agreement (the “California Agreement”) with certain entities owned by John Yeatman and Guy Saxton to sell substantially all of the Company’s remaining California properties, consisting of five cemeteries, six funeral establishments and four crematories (the “Remaining California Assets”) for a cash purchase price of $7.1 million, subject to certain closing adjustments (the “Remaining California Sale” and together with the Olivet Sale, the “Total California Sale”). The Company anticipates using the first $3.2 million of net proceeds and 80% of the remaining net proceeds from the Remaining California Sale to redeem additional principal portions of the outstanding Senior Secured Notes. During the three and six months ended June 30, 2020, the Company recorded an impairment charge of $2.2 million, which is presented in Other losses in the accompanying unaudited condensed consolidated statement of operations, to reduce the carrying value of the Remaining California Assets to their fair value.

The following table summarizes the assets and liabilities that have been classified as Assets held for sale on the Company’s unaudited condensed consolidated balance sheets:

	June 30,								December 31,
	2020								2019
	Remaining California			Other		Total			Oakmont		Other		Total
Assets
Current assets:
Accounts receivable, net of allowance	$	566		$	—	$	566		$	580	$	—	$	580
Prepaid expenses		—			—		—			34		—		34
Other current assets		115			—		115			35		—		35
Total current assets held for sale		681			—		681			649		—		649

Long-term accounts receivable, net of allowance		1,380			—		1,380			3,194		—		3,194
Cemetery property		8,643			350		8,993			5,811		350		6,161
Property and equipment, net of accumulated depreciation		1,894			—		1,894			2,762		150		2,912
Merchandise trusts, restricted, at fair value		11,806			—		11,806			6,673		—		6,673
Perpetual care trusts, restricted, at fair value		6,633			—		6,633			2,470		—		2,470
Deferred selling and obtaining costs		999			—		999			1,388		—		1,388
Other assets		1,534			—		1,534			411		—		411
Less: Impairment of assets held for sale		(2,169	)		—		(2,169	)		—		—		—
Total assets held for sale	$	31,401		$	350	$	31,751		$	23,358	$	500	$	23,858

Liabilities
Current liabilities:
Accounts payable and accrued liabilities	$	204		$	179	$	383		$	102	$	—	$	102
Current portion, long-term debt		—			—		—			36		—		36
Other current liabilities		—			—		—			5,000		—		5,000
Total current liabilities held for sale		204			179		383			5,138		—		5,138

Deferred revenues		15,925			—		15,925			12,856		—		12,856
Perpetual care trust corpus		6,633			—		6,633			2,470		—		2,470
Other long-term liabilities		1,333			—		1,333			204		—		204
Total liabilities held for sale		24,095			179		24,274			20,668		—		20,668
Net assets held for sale	$	7,306		$	171	$	7,477		$	2,690	$	500	$	3,190