SEGMENTS During the three and nine months ended September 30, 2019 and 2018 , we operated in two segments: real estate operations and restaurant operations. Our segments are based on our organizational and management structure, which aligns with how our results are monitored and performance is assessed. Expenses incurred at our corporate office are allocated to real estate operations. The accounting policies of the reportable segments are the same as those described in Note 2 - Summary of Significant Accounting Policies . The following tables present financial information by segment for the three and nine months ended September 30, 2019 and 2018 Three Months Ended September 30, 2019 (In thousands) Real Estate Operations Restaurant Operations Intercompany Total Revenues: Rental revenue $ 35,209 $  $  $ 35,209 Intercompany rental revenue 102  (102 )  Restaurant revenue  4,974  4,974 Total revenues 35,311 4,974 (102 ) 40,183 Operating expenses: General and administrative 3,389   3,389 Depreciation and amortization 6,523 130  6,653 Property expenses 346   346 Restaurant expenses  4,907 (102 ) 4,805 Total operating expenses 10,258 5,037 (102 ) 15,193 Interest expense (6,665 )   (6,665 ) Other income 153   153 Income tax expense (38 ) (31 )  (69 ) Net Income (Loss) $ 18,503 $ (94 ) $  $ 18,409 Three Months Ended September 30, 2018 (In thousands) Real Estate Operations Restaurant Operations Intercompany Total Revenues: Rental revenue $ 31,324 $  $  $ 31,324 Intercompany rental revenue 100  (100 )  Restaurant revenue  4,798  4,798 Total revenues 31,424 4,798 (100 ) 36,122 Operating expenses: General and administrative 3,116   3,116 Depreciation and amortization 5,614 129  5,743 Property expenses 109   109 Restaurant expenses  4,813 (100 ) 4,713 Total operating expenses 8,839 4,942 (100 ) 13,681 Interest expense (4,934 )   (4,934 ) Other income 164   164 Income tax expense (38 ) (26 )  (64 ) Net Income (Loss) $ 17,777 $ (170 ) $  $ 17,607 Nine Months Ended September 30, 2019 (In thousands) Real Estate Operations Restaurant Operations Intercompany Total Revenues: Rental revenue $ 103,832 $  $  $ 103,832 Intercompany rental revenue 305  (305 )  Restaurant revenue  15,520  15,520 Total revenues 104,137 15,520 (305 ) 119,352 Operating expenses: General and administrative 10,766   10,766 Depreciation and amortization 19,132 400  19,532 Property expenses 1,071   1,071 Restaurant expenses  15,047 (305 ) 14,742 Total operating expenses 30,969 15,447 (305 ) 46,111 Interest expense (19,969 )   (19,969 ) Other income 872   872 Income tax expense (106 ) (92 )  (198 ) Net Income (Loss) $ 53,965 $ (19 ) $  $ 53,946 Nine Months Ended September 30, 2018 (In thousands) Real Estate Operations Restaurant Operations Intercompany Total Revenues: Rental revenue $ 90,509 $  $  $ 90,509 Intercompany rental revenue 300  (300 )  Restaurant revenue  15,091  15,091 Total revenues 90,809 15,091 (300 ) 105,600 Operating expenses: General and administrative 9,809   9,809 Depreciation and amortization 15,931 381  16,312 Property expenses 289   289 Restaurant expenses  14,670 (300 ) 14,370 Total operating expenses 26,029 15,051 (300 ) 40,780 Interest expense (14,667 )   (14,667 ) Other income 752   752 Realized gain on sale, net 10,879   10,879 Income tax expense (100 ) (89 )  (189 ) Net Income (Loss) $ 61,644 $ (49 ) $  $ 61,595 The following tables present supplemental information by segment at September 30, 2019 and December 31, 2018 . Supplemental Segment Information at September 30, 2019 (In thousands) Real Estate Operations Restaurant Operations Total Total real estate investments $ 1,850,600 $ 14,858 $ 1,865,458 Accumulated depreciation (624,629 ) (5,247 ) (629,876 ) Total real estate investments, net 1,225,971 9,611 1,235,582 Cash and cash equivalents 28,699 1,090 29,789 Total assets 1,331,070 16,710 1,347,780 Long-term debt, net of deferred financing costs 617,428  617,428 Supplemental Segment Information at December 31, 2018 (In thousands) Real Estate Operations Restaurant Operations Total Total real estate investments $ 1,788,462 $ 16,819 $ 1,805,281 Accumulated depreciation (607,556 ) (7,028 ) (614,584 ) Total real estate investments, net 1,180,906 9,791 1,190,697 Cash and cash equivalents 90,690 1,351 92,041 Total assets 1,331,213 11,885 1,343,098 Long-term debt, net of deferred financing costs 615,892  615,892