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Other Assets Other Assets (Notes) | 12 Months Ended
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Dec. 31, 2019
Other Assets [Abstract] |
Other Assets |
| (e) | Other Assets
Goodwill Goodwill represents the excess of the purchase price consideration for the Equity One merger over the fair value of the assets acquired and liabilities assumed. The Company accounts for goodwill in accordance with ASC Topic 350, Intangibles - Goodwill and Other, and allocates its goodwill to its reporting units, which have been determined to be at the individual property level. The Company performs an impairment evaluation of its goodwill at least annually, in November of each year, or more frequently as triggers occur. The goodwill impairment evaluation is completed using either a qualitative or quantitative approach. Under a qualitative approach, the impairment review for goodwill consists of an assessment of whether it is more-likely-than-not that the reporting unit’s fair value is less than its carrying value, including goodwill. If a qualitative approach indicates it is more likely-than-not that the estimated carrying value of a reporting unit (including goodwill) exceeds its fair value, or if the Company chooses to bypass the qualitative approach for any reporting unit, the Company will perform the quantitative approach described below. The quantitative approach consists of estimating the fair value of each reporting unit using discounted projected future cash flows and comparing those estimated fair values with the carrying values, which include the allocated goodwill. If the estimated fair value is less than the carrying value, the Company would then recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill allocated to that reporting unit. Investments The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations at each balance sheet date. The fair value of securities is determined using quoted market prices. Debt securities are classified as held to maturity when the Company has the positive intent and ability to hold the securities to maturity. Debt securities that are bought and held principally for the purpose of selling them in the near term are classified as trading securities and are reported at fair value, with unrealized gains and losses recognized through earnings in Investment income in the Consolidated Statements of Operations. Debt securities not classified as held to maturity or as trading, are classified as available-for-sale, and are carried at fair value, with the unrealized gains and losses, net of tax, included in the determination of comprehensive income and reported in the Consolidated Statements of Comprehensive Income. Equity securities with readily determinable fair values are measured at fair value with changes in the fair value recognized through net income and presented within Investment income in the Consolidated Statements of Operations.
5. | Other Assets
The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets:
(in thousands) |  | December 31, 2019 |  |  | December 31, 2018 |
Goodwill |  | $ | 307,434 |  |  |  | 314,143 |
Investments |  |  | 50,354 |  |  |  | 41,287 |
Prepaid and other |  |  | 18,169 |  |  |  | 17,937 |
Derivative assets |  |  | 2,987 |  |  |  | 17,482 |
Furniture, fixtures, and equipment, net |  |  | 7,098 |  |  |  | 6,127 |
Deferred financing costs, net |  |  | 4,687 |  |  |  | 6,851 |
Total other assets |  | $ | 390,729 |  |  |  | 403,827 |
The following table presents the goodwill balances and activity during the year to date periods ended:
|  | December 31, 2019 |  |  | December 31, 2018 |
(in thousands) |  | Goodwill |  |  | Accumulated Impairment Losses |  |  | Total |  |  | Goodwill |  |  | Accumulated Impairment Losses |  |  | Total |
Beginning of year balance |  | $ | 316,858 |  |  |  | (2,715 | ) |  |  | 314,143 |  |  |  | 331,884 |  |  |  | — |  |  |  | 331,884 |
Goodwill resulting from Equity One merger |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 500 |  |  |  | — |  |  |  | 500 |
Goodwill allocated to Provision for impairment |  |  | — |  |  |  | (2,954 | ) |  |  | (2,954 | ) |  |  | — |  |  |  | (12,628 | ) |  |  | (12,628 | )
Goodwill allocated to Properties held for sale |  |  | (2,472 | ) |  |  | — |  |  |  | (2,472 | ) |  |  | (1,159 | ) |  |  | — |  |  |  | (1,159 | )
Goodwill associated with disposed reporting units: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill allocated to Provision for impairment |  |  | (1,779 | ) |  |  | 1,779 |  |  |  | — |  |  |  | (9,913 | ) |  |  | 9,913 |  |  |  | — |
Goodwill allocated to Gain on sale of real estate |  |  | (2,219 | ) |  |  | 936 |  |  |  | (1,283 | ) |  |  | (4,454 | ) |  |  | — |  |  |  | (4,454 | )
End of year balance |  | $ | 310,388 |  |  |  | (2,954 | ) |  |  | 307,434 |  |  |  | 316,858 |  |  |  | (2,715 | ) |  |  | 314,143 |
During the year ended December 31, 2019, the Company recognized a $3.0 million provision for impairment of goodwill on two reporting units due to changes in the use and expected hold period of the operating properties. During the year ended December 31, 2018, the Company recognized $12.6 million provision for impairment of goodwill on ten reporting units that sold or were expected to sell. As the Company identifies properties (“reporting units”) that no longer meet its investment criteria, it will evaluate the property for potential sale. A decision to sell a reporting unit results in the need to evaluate its goodwill for recoverability and may result in impairment. Additionally, other changes impacting a reporting unit may be considered a triggering event. If events occur that trigger an impairment evaluation at multiple reporting units, a goodwill impairment may be significant.

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