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DISCONTINUED OPERATIONS | 12 Months Ended
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Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract] |
DISCONTINUED OPERATIONS |
NOTE 12. | DISCONTINUED OPERATIONS
Effective January 1, 2015, the Company adopted the provisions of ASU 2014-08, which changed the criteria of ASC 360 related to determining which disposals qualify to be accounted for as discontinued operations and modified related reporting and disclosure requirements. Disposals representing a strategic shift in operations that have a major effect on a company’s operations and financial results will be presented as discontinued operations. There were no sales of income-producing properties during 2017 or 2016 that met the criteria for discontinued operations. Amounts included in discontinued operations represent the residual amounts from sales classified as discontinued operations prior to January 1, 2015. The following table summarizes revenue and expense information for the properties sold that qualified as discontinued operations (dollars in thousands):
|  | For the Years Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Revenues: |  |  |  |  |  |  |  |  |
Rental and other property revenues |  | $ | — |  |  | $ | — |  |  | $ | 355 |
|  |  | — |  |  |  | — |  |  |  | 355 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Property operating expenses |  |  | — |  |  |  | 2 |  |  |  | (345) |
Depreciation |  |  | — |  |  |  | — |  |  |  | — |
General and administrative |  |  | — |  |  |  | — |  |  |  | 99 |
Total operating expenses |  |  | — |  |  |  | 2 |  |  |  | (246) |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |
Other income (expense) |  |  | — |  |  |  | — |  |  |  | 45 |
Mortgage and loan interest |  |  | — |  |  |  | — |  |  |  | (2 | )
Loan charges and prepayment penalties |  |  | — |  |  |  | — |  |  |  | — |
Litigation settlement |  |  | — |  |  |  | — |  |  |  | — |
Total other expenses |  |  | — |  |  |  | — |  |  |  | 43 |
Loss from discontinued operations before gain on sale of real estate and taxes |  |  | — |  |  |  | (2) |  |  |  | 644 |
Gain on sale of real estate from discontinued operations |  |  | — |  |  |  | — |  |  |  | 735 |
Income tax benefit (expense) |  |  | — |  |  |  | 1 |  |  |  | (483) |
Income (loss) from discontinued operations |  | $ | — |  |  | $ | (1) |  |  | $ | 896 |

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- References No definition available. + Details
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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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