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 March 31, 2019 , the Company owned, leased or managed 64 Traditional Golf properties across 11 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). Beginning as of the Companys second fiscal quarter in 2018, the Company changed its reportable segments to reflect the manner in which our CODM manages our businesses, including resource allocation and performance assessment. As a result, the former Debt Investments segment was combined with the corporate segment, to reflect the ongoing reduction in size of the Debt Investments segment. 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 Three Months Ended March 31, 2019 Revenues Golf operations $ 681 $ 44,025 $  $ 44,706 Sales of food and beverages 1,040 8,206  9,246 Total revenues 1,721 52,231  53,952 Operating costs Operating expenses (A) 1,747 45,976  47,723 Cost of sales - food and beverages 251 2,447  2,698 General and administrative expense 3,379 3,897 3,944 11,220 General and administrative expense - acquisition and transaction expenses (B) 157 153 89 399 Depreciation and amortization 709 4,217 (2 ) 4,924 Pre-opening costs (C) 1,179   1,179 Impairment  4,088  4,088 Realized and unrealized (gain) on investments     Total operating costs 7,422 60,778 4,031 72,231 Operating loss (5,701 ) (8,547 ) (4,031 ) (18,279 ) Other income (expenses) Interest and investment income 132 38 174 344 Interest expense (D) (3 ) (2,190 ) (626 ) (2,819 ) Capitalized interest (D)  188 478 666 Other (loss) income, net (7 ) 5,030 465 5,488 Total other income (expenses) 122 3,066 491 3,679 Income tax expense     Net loss (5,579 ) (5,481 ) (3,540 ) (14,600 ) Preferred dividends   (1,395 ) (1,395 ) Loss applicable to common stockholders $ (5,579 ) $ (5,481 ) $ (4,935 ) $ (15,995 ) Entertainment Golf Traditional Golf Corporate (E) Total March 31, 2019 Total assets 164,907 351,877 47,207 563,991 Total liabilities 42,054 349,987 61,887 453,928 Preferred stock   61,583 61,583 Noncontrolling interest     Equity attributable to common stockholders $ 122,853 $ 1,890 $ (76,263 ) $ 48,480 Additions to property and equipment (including finance leases) during the three months ended March 31, 2019 $ 28,037 $ 2,106 $ 800 $ 30,943 Summary segment financial data (continued). Entertainment Golf Traditional Golf Corporate (F) Total Three Months Ended March 31, 2018 Revenues Golf operations $  $ 53,554 $  $ 53,554 Sales of food and beverages  13,106  13,106 Total revenues  66,660  66,660 Operating costs Operating expenses (A)  57,379  57,379 Cost of sales - food and beverages  4,040  4,040 General and administrative expense 1,102 4,153 2,080 7,335 General and administrative expense - acquisition and transaction expenses (B) 1,253 307 297 1,857 Depreciation and amortization 30 5,513 5 5,548 Pre-opening costs (C) 1,556   1,556 Impairment  1,326 147 1,473 Realized and unrealized (gain) on investments  (242 )  (242 ) Total operating costs 3,941 72,476 2,529 78,946 Operating loss (3,941 ) (5,816 ) (2,529 ) (12,286 ) Other income (expenses) Interest and investment income 28 51 367 446 Interest expense (D)  (3,938 ) (494 ) (4,432 ) Capitalized interest (D)  383  383 Other (loss) income, net  (938 ) 532 (406 ) Total other income (expenses) 28 (4,442 ) 405 (4,009 ) Income tax expense     Net loss (3,913 ) (10,258 ) (2,124 ) (16,295 ) Preferred dividends   (1,395 ) (1,395 ) Loss applicable to common stockholders $ (3,913 ) $ (10,258 ) $ (3,519 ) $ (17,690 ) (A) Operating expenses include rental expenses recorded under operating leases for carts and equipment in the amount of $0.3 million and $0.6 million for the three months ended March 31, 2019 and 2018 , respectively. (B) 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. (C) 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 restaurant operating expenses incurred prior to opening an Entertainment Golf venue. (D) Interest expense includes the accretion of membership deposit liabilities in the amount of $1.9 million and $1.7 million for the three months ended March 31, 2019 and 2018 , respectively. Interest expense and capitalized interest total to interest expense, net on the Consolidated Statements of Operations. (E) Total assets in the corporate segment include an equity method investment in the amount of $23.0 million as of March 31, 2019 recorded in other investments on the Consolidated Balance Sheets. (F) The Debt Investments segment and corporate segment as reported previously are combined to conform to the current period's presentation.