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Other Assets | 9 Months Ended
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Sep. 30, 2020
Other Assets [Abstract] |
Other Assets |
4. | Other Assets
The following table represents the components of Other assets in the accompanying Consolidated Balance Sheets as of the dates set forth below:
(in thousands) |  | September 30, 2020 |  |  | December 31, 2019 |
Goodwill, net |  | $ | 174,794 |  |  |  | 307,434 |
Investments |  |  | 51,995 |  |  |  | 50,354 |
Prepaid and other |  |  | 24,019 |  |  |  | 18,169 |
Derivative assets |  |  | — |  |  |  | 2,987 |
Furniture, fixtures, and equipment, net |  |  | 6,385 |  |  |  | 7,098 |
Deferred financing costs, net |  |  | 3,065 |  |  |  | 4,687 |
Total other assets |  | $ | 260,258 |  |  |  | 390,729 |
The following table presents the goodwill balances and activity during the year to date periods ended:
|  | September 30, 2020 |  |  | December 31, 2019 |
(in thousands) |  | Goodwill |  |  | Accumulated Impairment Losses |  |  | Total |  |  | Goodwill |  |  | Accumulated Impairment Losses |  |  | Total |
Beginning of year balance |  | $ | 310,388 |  |  |  | (2,954 | ) |  |  | 307,434 |  |  |  | 316,858 |  |  |  | (2,715 | ) |  |  | 314,143 |
Goodwill allocated to Provision for impairment |  |  | — |  |  |  | (132,179 | ) |  |  | (132,179 | ) |  |  | — |  |  |  | (2,954 | ) |  |  | (2,954 | )
Goodwill allocated to Properties held for sale |  |  | (963 | ) |  |  | 963 |  |  |  | — |  |  |  | (2,472 | ) |  |  | — |  |  |  | (2,472 | )
Goodwill associated with disposed reporting units: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill allocated to Provision for impairment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,779 | ) |  |  | 1,779 |  |  |  | — |
Goodwill allocated to Gain on sale of real estate |  |  | (461 | ) |  |  | — |  |  |  | (461 | ) |  |  | (2,219 | ) |  |  | 936 |  |  |  | (1,283 | )
End of period balance |  | $ | 308,964 |  |  |  | (134,170 | ) |  |  | 174,794 |  |  |  | 310,388 |  |  |  | (2,954 | ) |  |  | 307,434 |
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. During the three months ended March 31, 2020, the Company recognized $132.2 million of Goodwill impairment. The market disruptions related to the significant economic impacts of the COVID-19 pandemic triggered evaluation of reporting unit fair values for goodwill impairment. The Company’s reporting units are at the individual property level. The carrying value of long-lived assets of the reporting units were first tested for recoverability with no resulting impairments. Next, the fair value of each reporting unit was compared to its carrying value, including goodwill. Of the 269 reporting units with goodwill, 87 of those were determined to have fair values lower than carrying value. As such, goodwill impairment losses totaling $132.2 million were recognized for the amount that the carrying amount of the reporting unit, including goodwill, exceeded its fair value, limited to the total amount of goodwill allocated to that reporting unit. Fair values of the reporting units were determined using a discounted cash flow approach, including current market cash flow assumptions for impacts to existing tenant contractual rent as well as prospective future rent and occupancy changes and related capital and operating expenditures. The cap rates and discount rates used in the analysis reflect management’s best estimate of market rates adjusted for the current environment. No additional Goodwill impairments were recognized after March 31, 2020.

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- Definition The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. + References No definition available. + Details
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