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DISCONTINUED OPERATIONS | 12 Months Ended
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Dec. 31, 2014
DISCONTINUED OPERATIONS [Abstract] |
DISCONTINUED OPERATIONS | H. DISCONTINUED OPERATIONS On September 11, 2013, the Company completed the sale of the Remington Village Apartment Complex in Gillette Wyoming ("Remington Village") to an affiliate of the Miller Frishman Group, LLC for $15.0 million. The $9.5 million balance on the commercial note relating to Remington Village was paid in full at closing. After deduction of payment of the note, commission and other closing costs, the net proceeds to the Company were approximately $5.0 million. Upon closing this transaction, a loss of $120,000 was recorded on the sale of discontinued of operations. Due to the sale of Remington Village in 2013, the Company did not record any income or losses from discontinued real estate operations for the year ended December 31, 2014. The Company's real estate operations for the years ending December 31, 2013 and 2012 have been classified as discontinued operations in the current financial statements. Results of discontinued operations for the years ended December 31, 2014, 2013, and 2012 were as follows:
|  | (In thousands) |
|  | For the years ending December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Revenues |  | $ | -- |  |  | $ | 1,271 |  |  | $ | 2,037 |
Operating expenses |  |  | -- |  |  |  | 844 |  |  |  | 1,885 |
Impairment |  |  | -- |  |  |  | -- |  |  |  | 2,955 |
|  |  | -- |  |  |  | 844 |  |  |  | 4,840 |
Income (loss) before income taxes |  |  | -- |  |  |  | 427 |  |  |  | (2,803 | )
Income tax benefit |  |  | -- |  |  |  | -- |  |  |  | 1,009 |
Net income (loss) from discontinued operations |  | $ | -- |  |  | $ | 427 |  |  | $ | (1,794 | )
Because Remington Village was classified as an asset held for sale, scheduled depreciation of $660,000 for 2013 and $896,000 for 2012 was not recorded.

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- Definition The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 45 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228 + Details
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