Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT, NET OF ACCUMULATED DEPRECIATION (Tables)

v3.19.1
PROPERTY AND EQUIPMENT, NET OF ACCUMULATED DEPRECIATION (Tables)
 12 Months Ended
Dec. 31, 2018
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net of Accumulated Depreciation
The following table summarizes the Company's property and equipment:

 
December 31, 2018
 
December 31, 2017
 
Gross Carrying Amount
 
Accumulated Depreciation
 
Net Carrying Value
 
Gross Carrying Amount
 
Accumulated Depreciation
 
Net Carrying Value
Land
$
6,747

 
$
—

 
$
6,747

 
$
88,251

 
$
—

 
$
88,251

Buildings and improvements
78,833

 
(30,540
)
 
48,293

 
154,769

 
(52,636
)
 
102,133

Furniture, fixtures and equipment
26,726

 
(16,729
)
 
9,997

 
33,109

 
(23,451
)
 
9,658

Capital leases - equipment
28,745

 
(12,843
)
 
15,902

 
24,949

 
(8,649
)
 
16,300

Construction in progress
51,666

 
—

 
51,666

 
24,916

 
—

 
24,916

Total Property and Equipment
$
192,717

 
$
(60,112
)
 
$
132,605

 
$
325,994

 
$
(84,736
)
 
$
241,258


Summary of Leased and Managed Traditional Golf Properties
Below is a summary of the activity related to leased and managed Traditional Golf properties.
Date
 
Location
 
Leased or Managed Property
 
Description
May 2017
 
California
 
Managed
 
agreement expired
December 2017
 
Oklahoma
 
Leased
 
agreement expired
February 2018
 
Oklahoma
 
Leased
 
agreement terminated
June 2018
 
California
 
Leased
 
agreement terminated, 10 year management agreement executed
September 2018
 
Texas
 
Leased
 
agreement terminated
November 2018
 
California
 
Leased
 
agreement expired
December 2018
 
Michigan
 
Managed
 
agreement terminated, course closing