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IMPAIRMENT CHARGES | 6 Months Ended
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Jun. 30, 2024
Asset Impairment Charges [Abstract] |
IMPAIRMENT CHARGES | IMPAIRMENT CHARGES The following summarizes pre-tax impairment charges recorded during 2024, which are included in Impairment expense in our consolidated statements of operations (in thousands):
|  |  | Australia |  | U.S. |  | Total
Quarter ended March 31, 2024 |  |  |  |  |  |  |
Long-lived assets |  |  | $ | 5,749 |  |  | $ | 2,074 |  |  | $ | 7,823 |
Total |  |  | $ | 5,749 |  |  | $ | 2,074 |  |  | $ | 7,823 |
Quarter ended March 31, 2024. During the first quarter of 2024, we recorded impairment expense of $5.7 million related to various undeveloped land positions and related permitting costs in Australia. At March 31, 2024, we identified an impairment trigger related to certain of these properties due to the denial of development permit applications in Australia. Accordingly, the assets were written down to their estimated fair value of $0.6 million. In addition, during the first quarter of 2024, we recorded impairment expense of $2.1 million, related to land located in the U.S. The land was written down to its estimated fair value (less costs to sell) of $3.8 million. No impairment expense was recorded during the second quarter of 2024.

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- Definition The entire disclosure for the details of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Disclosure may also include a description of the impaired asset and facts and circumstances leading to the impairment, amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired asset is reported. + References No definition available. + Details
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