SEGMENT REPORTING The Company currently has three reportable segments: (i) Entertainment Golf venues, (ii) Traditional Golf properties and (iii) corporate. The chief operating decision maker (CODM) for each segment is our Chief Executive Officer, who reviews discrete financial information for each reportable segment to manage the Company, including resource allocation and performance assessment. The Company opened its inaugural Entertainment Golf venue in Orlando, Florida on April 7, 2018 and expects to continue opening a chain of next-generation Entertainment Golf venues across the United States and internationally, which combine golf, competition, dining and fun. Additionally, the Company's Traditional Golf business is one of the largest operators of golf properties in the United States. As of June 30, 2019 , the Company owned, leased or managed 61 Traditional Golf properties across 10 states. The corporate segment consists primarily of investments in loans and securities, interest income on short-term investments, general and administrative expenses as a public company, interest expense on the junior subordinated notes payable (Note 8) and income tax expense (Note 14). Summary financial data on the Companys segments is given below, together with a reconciliation to the same data for the Company as a whole: Entertainment Golf Traditional Golf Corporate Total Six Months Ended June 30, 2019 Revenues Golf operations $ 1,288 $ 100,804 $  $ 102,092 Sales of food and beverages 1,911 21,564  23,475 Total revenues 3,199 122,368  125,567 Operating costs Operating expenses (A) 3,605 102,838  106,443 Cost of sales - food and beverages 501 6,100  6,601 General and administrative expense (B) 6,930 8,212 8,510 23,652 General and administrative expense - acquisition and transaction expenses (C) 963 333 278 1,574 Depreciation and amortization 1,670 8,335 41 10,046 Pre-opening costs (D) 2,879   2,879 Impairment 118 4,088  4,206 Realized and unrealized (gain) on investments     Total operating costs 16,666 129,906 8,829 155,401 Operating loss (13,467 ) (7,538 ) (8,829 ) (29,834 ) Other income (expenses) Interest and investment income 246 61 301 608 Interest expense (E) (142 ) (4,051 ) (1,256 ) (5,449 ) Capitalized interest (E)  413 1,089 1,502 Other (loss) income, net (7 ) 4,688 933 5,614 Total other income (expenses) 97 1,111 1,067 2,275 Income tax expense     Net loss (13,370 ) (6,427 ) (7,762 ) (27,559 ) Preferred dividends   (2,790 ) (2,790 ) Loss applicable to common stockholders $ (13,370 ) $ (6,427 ) $ (10,552 ) $ (30,349 ) Summary segment financial data (continued). Entertainment Golf Traditional Golf Corporate Total Three Months Ended June 30, 2019 Revenues Golf operations $ 607 $ 56,779 $  $ 57,386 Sales of food and beverages 872 13,357  14,229 Total revenues 1,479 70,136  71,615 Operating costs Operating expenses (A) 1,857 56,863  58,720 Cost of sales - food and beverages 251 3,653  3,904 General and administrative expense (B) 3,551 4,316 4,565 12,432 General and administrative expense - acquisition and transaction expenses (C) 806 179 190 1,175 Depreciation and amortization 961 4,118 43 5,122 Pre-opening costs (D) 1,700   1,700 Impairment 118   118 Realized and unrealized loss on investments     Total operating costs 9,244 69,129 4,798 83,171 Operating (loss) income (7,765 ) 1,007 (4,798 ) (11,556 ) Other income (expenses) Interest and investment income 114 23 128 265 Interest expense (E) (142 ) (1,861 ) (629 ) (2,632 ) Capitalized interest (E)  226 611 837 Other (loss) income, net  (343 ) 470 127 Total other income (expenses) (28 ) (1,955 ) 580 (1,403 ) Income tax expense     Net loss (7,793 ) (948 ) (4,218 ) (12,959 ) Preferred dividends   (1,395 ) (1,395 ) Loss applicable to common stockholders $ (7,793 ) $ (948 ) $ (5,613 ) $ (14,354 ) Entertainment Golf Traditional Golf Corporate (F) Total June 30, 2019 Total assets 180,343 336,484 42,248 559,075 Total liabilities 46,035 354,116 61,802 461,953 Preferred stock   61,583 61,583 Equity attributable to common stockholders $ 134,308 $ (17,632 ) $ (81,137 ) $ 35,539 Additions to property and equipment (including finance leases) during the six months ended June 30, 2019 $ 47,249 $ 6,490 $ 1,648 $ 55,387 Summary segment financial data (continued). Entertainment Golf Traditional Golf Corporate Total Six Months Ended June 30, 2018 Revenues Golf operations $ 855 $ 121,849 $  $ 122,704 Sales of food and beverages 952 34,008  34,960 Total revenues 1,807 155,857  157,664 Operating costs Operating expenses (A) 1,835 122,586  124,421 Cost of sales - food and beverages 228 10,005  10,233 General and administrative expense (B) 2,638 8,467 6,257 17,362 General and administrative expense - acquisition and transaction expenses (C) 1,454 508 138 2,100 Depreciation and amortization 535 9,320 8 9,863 Pre-opening costs (D) 1,803   1,803 Impairment  1,326 147 1,473 Realized and unrealized (gain) on investments  (331 )  (331 ) Total operating costs 8,493 151,881 6,550 166,924 Operating (loss) income (6,686 ) 3,976 (6,550 ) (9,260 ) Other income (expenses) Interest and investment income 112 96 707 915 Interest expense (E)  (8,099 ) (1,064 ) (9,163 ) Capitalized interest (E)  342 171 513 Other (loss) income, net  (5,166 ) 1,061 (4,105 ) Total other income (expenses) 112 (12,827 ) 875 (11,840 ) Income tax expense     Net loss (6,574 ) (8,851 ) (5,675 ) (21,100 ) Preferred dividends   (2,790 ) (2,790 ) Loss applicable to common stockholders $ (6,574 ) $ (8,851 ) $ (8,465 ) $ (23,890 ) Summary segment financial data (continued). Entertainment Golf Traditional Golf Corporate Total Three Months Ended June 30, 2018 Revenues Golf operations $ 855 $ 68,295 $  $ 69,150 Sales of food and beverages 952 20,902  21,854 Total revenues 1,807 89,197  91,004 Operating costs Operating expenses (A) 1,835 65,207  67,042 Cost of sales - food and beverages 228 5,965  6,193 General and administrative expense (B) 1,535 4,313 3,961 9,809 General and administrative expense - acquisition and transaction expenses (C) 200 200 59 459 Depreciation and amortization 504 3,808 3 4,315 Pre-opening costs (D) 247   247 Impairment     Realized and unrealized (gain) on investments  (89 )  (89 ) Total operating costs 4,549 79,404 4,023 87,976 Operating (loss) income (2,742 ) 9,793 (4,023 ) 3,028 Other income (expenses) Interest and investment income 84 45 340 469 Interest expense (E)  (4,161 ) (570 ) (4,731 ) Capitalized interest (E)  87 43 130 Other (loss) income, net  (4,228 ) 529 (3,699 ) Total other income (expenses) 84 (8,257 ) 342 (7,831 ) Income tax expense     Net (loss) income (2,658 ) 1,536 (3,681 ) (4,803 ) Preferred dividends   (1,395 ) (1,395 ) (Loss) income applicable to common stockholders $ (2,658 ) $ 1,536 $ (5,076 ) $ (6,198 ) (A) Operating expenses include rental expenses recorded under operating leases for carts and equipment in the amount of $0.2 million and $0.5 million for the three and six months ended June 30, 2019 , respectively, and $0.6 million and $1.1 million for the three and six months ended June 30, 2018 , respectively. (B) General and administrative expenses include severance expense in the amount of $0.7 million and $1.1 million for the three and six months ended June 30, 2019 , respectively, and zero and $0.1 million for the three and six months ended June 30, 2018 . (C) Acquisition and transaction expenses include costs related to completed and potential acquisitions and transactions, which may include advisory, legal, accounting and other professional or consulting fees. (D) Pre-opening costs are expensed as incurred and consist primarily of site-related marketing expenses, pre-opening rent, employee payroll, travel and related expenses, training costs, food, beverage and other operating expenses incurred prior to opening an Entertainment Golf venue. (E) Interest expense includes the accretion of membership deposit liabilities in the amount of $1.6 million and $3.6 million for the three and six months ended June 30, 2019 , respectively, and $1.7 million and $3.4 million for the three and six months ended June 30, 2018 , respectively. Interest expense and capitalized interest are combined in interest expense, net on the Consolidated Statements of Operations. (F) Total assets in the corporate segment include an equity method investment in the amount of $23.3 million as of June 30, 2019 recorded in other investments on the Consolidated Balance Sheets.