XML 42 R19.htm IDEA: XBRL DOCUMENT v3.25.0.1
Other Assets and Other Liabilities
 12 Months Ended
Dec. 31, 2024
Other Liabilities Disclosure [Abstract]  
Other Assets and Other Liabilities Other Assets and Other Liabilities
Other Assets
The following table details the components of our other assets as of December 31, 2024 and 2023:
(In thousands)December 31, 2024December 31, 2023
Sales-type sub-leases, net (1)
$842,776 $847,330 
Property and equipment used in operations, net70,347 66,946 
Right of use assets and sub-lease right of use assets54,144 38,345 
Deferred acquisition costs13,964 10,087 
Other receivables9,166 9,660 
Debt financing costs8,029 11,332 
Forward-starting interest rate swaps7,717 1,563 
Interest receivable7,180 9,351 
Deferred income taxes5,865 9,423 
Tenant reimbursement receivables5,066 6,236 
Prepaid expenses4,534 4,728 
Other1,856 329 
Total other assets$1,030,644 $1,015,330 
___________________________________________________
(1) As of December 31, 2024 and December 31, 2023, sales-type sub-leases are net of $20.6 million and $18.7 million of Allowance for credit losses, respectively. Refer to Note 5 - Allowance for Credit Losses for further details.
Property and equipment used in operations, included within other assets, is primarily attributable to the land, building and improvements of our golf operations and consists of the following as of December 31, 2024 and 2023:
(In thousands)December 31, 2024December 31, 2023
Land and land improvements$61,459 $60,461 
Buildings and improvements16,224 15,727 
Furniture and equipment 17,186 12,432 
Total property and equipment used in operations94,869 88,620 
Less: accumulated depreciation(24,522)(21,674)
Total property and equipment used in operations, net$70,347 $66,946 
Year Ended December 31,
(In thousands)202420232022
Depreciation expense
$4,125 $4,298 $3,182 
Other Liabilities
The following table details the components of our other liabilities as of December 31, 2024 and 2023:
(In thousands)December 31, 2024December 31, 2023
Finance sub-lease liabilities$863,374 $866,052 
Deferred financing liabilities73,600 73,600 
Lease liabilities and sub-lease liabilities53,822 38,345 
CECL allowance for unfunded commitments9,482 19,131 
Deferred income taxes3,812 4,506 
Derivative liability— 11,218 
Other250 250 
Total other liabilities$1,004,340 $1,013,102