CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2017 |
Sep. 30, 2016 |
Sep. 30, 2017 |
Sep. 30, 2016 |
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| Revenues | ||||
| Golf course operations | $ 62,034 | $ 63,249 | $ 168,969 | $ 174,718 |
| Sales of food and beverages | 19,657 | 19,913 | 53,223 | 55,086 |
| Total revenues | 81,691 | 83,162 | 222,192 | 229,804 |
| Operating costs | ||||
| Operating expenses | 67,385 | 69,251 | 187,730 | 195,670 |
| Cost of sales - food and beverages | 5,721 | 6,026 | 15,762 | 17,139 |
| General and administrative expense | 4,328 | 3,688 | 11,115 | 10,348 |
| Management fee to affiliate | 2,678 | 2,676 | 8,032 | 8,027 |
| Depreciation and amortization | 6,187 | 6,735 | 17,952 | 19,250 |
| Impairment | 28 | 611 | 60 | 3,564 |
| Realized and unrealized (gain) loss on investments | (315) | (6,605) | 6,361 | (3,136) |
| Total operating costs | 86,012 | 82,382 | 247,012 | 250,862 |
| Operating (loss) income | (4,321) | 780 | (24,820) | (21,058) |
| Other income (expenses) | ||||
| Interest and investment income | 8,418 | 32,310 | 22,701 | 73,770 |
| Interest expense, net | (4,770) | (13,138) | (15,335) | (39,089) |
| Gain on deconsolidation | 0 | 0 | 0 | 82,130 |
| Other income, net | 202 | 505 | 372 | 1,339 |
| Total other income (expenses) | 3,850 | 19,677 | 7,738 | 118,150 |
| (Loss) Income before income tax | (471) | 20,457 | (17,082) | 97,092 |
| Income tax (benefit) expense | (2) | (38) | 1,047 | 144 |
| Net (Loss) Income | (469) | 20,495 | (18,129) | 96,948 |
| Preferred dividends | (1,395) | (1,395) | (4,185) | (4,185) |
| Net (income) attributable to noncontrolling interest | 0 | (177) | 0 | (165) |
| (Loss) Income Applicable to Common Stockholders | $ (1,864) | $ 18,923 | $ (22,314) | $ 92,598 |
| (Loss) Income Applicable to Common Stock, per share | ||||
| Basic (in dollars per share) | $ (0.03) | $ 0.28 | $ (0.33) | $ 1.39 |
| Diluted (in dollars per share) | $ (0.03) | $ 0.27 | $ (0.33) | $ 1.35 |
| Weighted Average Number of Shares of Common Stock Outstanding | ||||
| Basic (in shares) | 66,932,744 | 66,730,583 | 66,883,291 | 66,688,962 |
| Diluted (in shares) | 66,932,744 | 69,072,676 | 66,883,291 | 68,753,532 |
| Dividends Declared per Share of Common Stock (in dollars per share) | $ 0 | $ 0.12 | $ 0 | $ 0.24 |
| X | ||||||||||
- Definition Impairment of Investments and Financing Receivables No definition available.
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- Definition Heading for income/loss per share of common stock. No definition available.
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- Definition Fees paid to affiliate which advises the Company on various aspects of its business and manages its day-to-day operations pursuant to a management agreement. No definition available.
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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of the gain (loss) recognized by the parent and included in its attributable portion of net income for the period due to deconsolidation of a subsidiary or derecognition of a group of assets. The gain (loss) recognized and included in the net income attributable to the parent for the period is generally computed as the difference between: (a) the aggregate of: (1) the fair value of any consideration received; (2) the fair value of any retained noncontrolling investment in the former subsidiary at the date the subsidiary was deconsolidated; and (3) the carrying amount of any noncontrolling interest in the former subsidiary (including any accumulated other comprehensive income attributable to the noncontrolling interest) at the date the subsidiary was deconsolidated and (b) the carrying amount of the former subsidiary's assets and liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Revenue from sale of food (prepared and cooked-to-order foodstuffs, as well as snack items) and beverages (bottled or on-tap alcoholic beverages, as well as nonalcoholic beverages like carbonated drinks, juices, energy/sports drinks, water, coffee, and tea). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net amount of nonoperating interest income (expense). No definition available.
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The aggregate amount of gains or losses resulting from nonoperating activities (for example, interest and dividend revenue, property, plant and equipment impairment loss, and so forth). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense. No definition available.
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Amount of gain (loss) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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