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Commitments and Contingent Liabilities (Tables) | 6 Months Ended
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Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract] |
Summary of Lease Cost | Total rental expense, included in golf operations and general and administrative expenses in our Statement of Operations and contractual rent expense under these agreements were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In thousands) | 2022 |  | 2021 |  | 2022 |  | 2021
Rent expense | $ | 503 |  |  | $ | 505 |  |  | $ | 1,002 |  |  | $ | 1,004 |
Contractual rent | 475 |  |  | 470 |  |  | 949 |  |  | 940 |
Total rental income and rental expense, included in Other income and Other expenses, respectively, in our Statement of Operations and contractual rent expense under these agreements were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In thousands) | 2022 |  | 2021 |  | 2022 |  | 2021
Rental income and expense | $ | 1,712 |  |  | $ | — |  |  | $ | 2,283 |  |  | $ | — |
Contractual rent | 1,590 |  |  | — |  |  | 2,118 |  |  | — |
Total rental income and rental expense, included in Other income and Other expenses, respectively, in our Statement of Operations and contractual rent expense under these agreements were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In thousands) | 2022 |  | 2021 |  | 2022 |  | 2021
Rental income and expense | $ | 12,442 |  |  | $ | 5,648 |  |  | $ | 18,926 |  |  | $ | 11,300 |
Contractual rent | 12,307 |  |  | 5,838 |  |  | 18,985 |  |  | 11,675 |
Schedule of Future Minimum Rental Payments for Operating Leases | The future minimum lease commitments relating to the base lease rent portion of noncancelable operating leases at June 30, 2022 are as follows:
(In thousands) |  | Lease Commitments
2022 (remaining) |  | $ | 1,026 |
2023 |  | 1,858 |
2024 |  | 1,847 |
2025 |  | 1,908 |
2026 |  | 1,958 |
2027 |  | 1,979 |
Thereafter |  | 15,137 |
Total minimum lease commitments |  | $ | 25,714 |
Discounting factor |  | 9,169 |
Lease liability |  | $ | 16,545 |
The future minimum lease commitments relating to the sub-leases at June 30, 2022 are as follows:
(In thousands) |  | Lease Commitments
2022 (remaining) |  | $ | 3,221 |
2023 |  | 6,585 |
2024 |  | 6,553 |
2025 |  | 5,129 |
2026 |  | 3,934 |
2027 |  | 4,010 |
Thereafter |  | 5,128 |
Total minimum lease commitments |  | $ | 34,559 |
Discounting factor |  | 2,815 |
Sub-lease liabilities |  | $ | 31,744 |
Schedule of Assets And Liabilities, Lessor |
(In thousands) | June 30, 2022 |  | December 31, 2021
Others assets (operating sub-leases) | $ | 31,744 |  |  | $ | — |
Other liabilities (operating sub-lease liabilities) | 31,744 |  |  | — |
The following table details the balance and location in our Balance Sheet of the ground and use sub-leases as of June 30, 2022 and December 31, 2021:
(In thousands) | June 30, 2022 |  | December 31, 2021 |  |  |  |
Others assets (sales-type sub-leases, net) | $ | 770,975 |  |  | $ | 273,970 |  |  |  |  |
Other liabilities (finance sub-lease liabilities) | 788,572 |  |  | 280,510 |  |  |  |  |
Schedule of Finance Lease, Liability, Maturity | The future minimum lease commitments relating to the ground and use sub-leases at June 30, 2022 are as follows:
(In thousands) |  | Lease Commitments
2022 (remaining) |  | $ | 33,206 |
2023 |  | 58,769 |
2024 |  | 59,039 |
2025 |  | 59,174 |
2026 |  | 59,174 |
2027 |  | 59,174 |
Thereafter |  | 2,555,535 |
Total minimum lease commitments |  | $ | 2,884,070 |
Discounting factor |  | 2,095,498 |
Finance sub-lease liability |  | $ | 788,572 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980 + Details
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