Quarterly report pursuant to Section 13 or 15(d)

REVENUES

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REVENUES
 9 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
The majority of the Company’s revenue is recognized at the time of sale to customers at the Company’s entertainment golf venues and traditional golf properties, including green fees, cart rentals, bay play, events and sales of food, beverages and merchandise. Revenue from membership dues is recognized in the month earned. Membership dues received in advance are included in deferred revenue and recognized as revenue ratably over the appropriate period, which is generally twelve months or less for private club members and the following month for The Players Club members.

Private country club members in our traditional golf business generally pay an advance initiation fee deposit upon their acceptance as members to their respective country clubs. Initiation fee deposits are refundable 30 years after the date of acceptance as a member. The difference between the initiation fee deposit paid by the member and the present value of the refund obligation is deferred and recognized into Golf operations revenue in the Consolidated Statements of Operations on a straight-line basis over the expected life of an active membership, which is estimated to be seven years. See Note 1. Summary of Significant Accounting Policies - Membership Deposit Liabilities.

Virtually all of the Company’s revenues are generated within the entertainment golf and traditional golf segments. The following tables disaggregate revenue by category: entertainment golf venues, public and private golf properties (owned and leased) and managed golf properties.
Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021
Ent. golf venues Public golf properties Private golf properties Managed golf properties (A) Total Ent. golf venues Public golf properties Private golf properties Managed golf properties (A) Total
Golf operations $ 5,239  $ 30,065  $ 10,715  $ 16,238  $ 62,257  $ 13,976  $ 77,932  $ 37,756  $ 47,506  $ 177,170 
Sales of food and beverages 6,070  6,334  1,705  —  14,109  17,145  12,182  4,840  —  34,167 
Total revenues $ 11,309  $ 36,399  $ 12,420  $ 16,238  $ 76,366  $ 31,121  $ 90,114  $ 42,596  $ 47,506  $ 211,337 
Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020
Ent. golf venues Public golf properties Private golf properties Managed golf properties (A) Total Ent. golf venues Public golf properties Private golf properties Managed golf properties (A) Total
Golf operations $ 2,736  $ 27,361  $ 11,833  $ 16,836  $ 58,766  $ 7,408  $ 56,419  $ 31,994  $ 41,245  $ 137,066 
Sales of food and beverages 3,440  2,719  1,540  —  7,699  10,675  7,914  4,045  —  22,634 
Total revenues $ 6,176  $ 30,080  $ 13,373  $ 16,836  $ 66,465  $ 18,083  $ 64,333  $ 36,039  $ 41,245  $ 159,700 
(A)Includes $14.7 million and $41.3 million for the three and nine months ended September 30, 2021, as well as $15.2 million and $37.1 million for the three and nine months ended September 30, 2020, respectively, related to management contract reimbursements reported under ASC 606 - Revenue Recognition.