Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.21.2
LEASES (Tables)
9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Schedule of lease related costs
Lease related costs recognized in the Consolidated Statements of Operations for the three and nine months ended September 30, 2021, and September 30, 2020, are as follows:
Three Months Ended September 30, Nine Months Ended September 30,
2021 2020 2021 2020
Finance lease cost
Amortization of right-of-use assets $ 1,412  $ 1,480  $ 4,159  $ 4,496 
Interest on lease liabilities 279  217  901  803 
Total finance lease cost 1,691  1,697  5,060  5,299 
Operating lease cost
Operating lease cost 6,144  8,881  22,714  27,146 
Short-term lease cost 109  432  619  1,282 
Variable lease cost 7,005  5,044  16,635  9,375 
Total operating lease cost 13,258  14,357  39,968  37,803 
Total lease cost $ 14,949  $ 16,054  $ 45,028  $ 43,102 
Schedule of lease, other information
Other information related to leases included on the Consolidated Balance Sheet as of and for the nine months ended September 30, 2021 are as follows:
Operating Leases Financing Leases
Right-of-use assets $ 186,220  $ 15,507 
Lease liabilities $ 191,070  $ 15,436 
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows $ 22,375  $ 279 
Financing cash flows $ —  $ 4,620 
Right-of-use assets obtained in exchange for lease liabilities $ 9,862  $ 1,670 
Weighted average remaining lease term 14.4 years 1.5 years
Weighted average discount rate 8.2  % 6.2  %
Schedule of future minimum lease payments, operating lease
Future minimum lease payments under non-cancellable leases as of September 30, 2021 are as follows:
Operating Leases Financing Leases
October 1, 2021 - December 31, 2021 $ 18,733  $ 1,732 
2022 31,078  5,871 
2023 31,019  4,877 
2024 23,945  2,713 
2025 21,578  1,510 
Thereafter 182,248  572 
Total minimum lease payments 308,601  17,275 
Less: imputed interest 117,531  1,839 
Total lease liabilities $ 191,070  $ 15,436 
Schedule of future minimum lease payments, finance lease
Future minimum lease payments under non-cancellable leases as of September 30, 2021 are as follows:
Operating Leases Financing Leases
October 1, 2021 - December 31, 2021 $ 18,733  $ 1,732 
2022 31,078  5,871 
2023 31,019  4,877 
2024 23,945  2,713 
2025 21,578  1,510 
Thereafter 182,248  572 
Total minimum lease payments 308,601  17,275 
Less: imputed interest 117,531  1,839 
Total lease liabilities $ 191,070  $ 15,436 
Summary of impairment (reversal) The following table summarizes the amounts the Company recorded in the Consolidated Statements of Operations:
Three Months Ended September 30, Nine Months Ended September 30,
2021 2020 2021 2020
(Gain) Loss on lease terminations $ $ 201  $ (652) $ (2,924)
Impairment on corporate office assets (held-for-use) —  —  3,303  — 
Impairment on traditional golf properties (held-for-use) —  —  —  792 
Other losses 321  101  321  101 
Total (Gain) Loss on lease terminations and impairment $ 324  $ 302  $ 2,972  $ (2,031)