SEVERANCE, IMPAIRMENT AND OTHER

9 Months Ended

Sep. 30, 2014

Other Income and Expenses [Abstract]

SEVERANCE, IMPAIRMENT AND OTHER

12. SEVERANCE, IMPAIRMENT AND OTHER

Severance, impairment and other included other expenses of approximately $344 and $281 for the three months and $1,003 and $281 for the nine months ended September 30, 2014 and 2013, respectively, related to a strategic initiative to upgrade the Company’s operating and financial software systems. For the nine months ended September 30, 2014, severance, impairment and other also included casualty losses of $750 primarily related to extreme winter weather conditions in many of the Company’s markets as well as fire damage at one of the Company’s Atlanta, Georgia communities. For the three and nine months ended September 30, 2013, severance, impairment and other included severance charges of $989 related to the departure of an executive officer, a non-cash impairment charge of $400 to write-down to fair value a parcel of land held for future investment (see note 8) and casualty losses of $311 related to fire damage sustained at one of the Company’s Charlotte, North Carolina communities.