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Commitments and Contingent Liabilities (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Assets And Liabilities
The following table details the balance and location in our Balance Sheets of the ground and use sub-leases as of December 31, 2024 and 2023:
(In thousands)December 31, 2024December 31, 2023
Other assets (operating lease and sub-leases right-of-use assets)$54,144 $38,345 
Other liabilities (operating lease and sub-lease liabilities)53,822 38,345 
Other assets (sales-type sub-leases, net) (1)
842,776 847,330 
Other liabilities (finance sub-lease liabilities)863,374 866,052 
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(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.
Schedule of Rent Expenses
Year Ended December 31,
(In thousands)202420232022
Operating leases
Rental expense (1)
$2,334 $2,004 $2,006 
Contractual rent1,363 1,905 1,901 
Operating sub-leases
Rental income and expense (2)
6,889 6,849 5,707 
Contractual rent6,754 6,585 5,338 
Finance sub-leases
Rental income and expense (2)
63,918 58,240 47,819 
Contractual rent65,030 59,094 52,191 
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(1) Total rental expense is included in golf operations and general and administrative expenses in our Statement of Operations.
(2) Total rental income and rental expense for operating and finance sub-lease commitments are presented gross and included in Other income and Other expenses in our Statement of Operations.
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 December 31, 2024 are as follows:
(In thousands)Operating Lease CommitmentsOperating Sub-Lease CommitmentsFinancing Sub-Lease Commitments
2025$1,082 $6,510 $65,194 
20262,772 6,428 65,194 
20271,921 6,603 65,194 
20282,813 5,847 65,253 
20291,921 5,102 65,803 
Thereafter20,825 7,168 2,692,070 
Total minimum lease commitments$31,334 $37,658 $3,018,708 
Discounting factor10,048 5,122 2,155,334 
Lease liability$21,286 $32,536 $863,374 
Discount rates (1)
5.3% -7.0%
2.6% - 5.8%
5.6% - 8.3%
Weighted average remaining lease term12.2 years6.7 years51.7 years
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(1) The discount rates for the leases were determined based on the yield of our then current secured borrowings, adjusted to match borrowings of similar terms.
Schedule of Finance Lease, Liability, Fiscal Year Maturity
The future minimum lease commitments relating to the base lease rent portion of noncancelable operating leases at December 31, 2024 are as follows:
(In thousands)Operating Lease CommitmentsOperating Sub-Lease CommitmentsFinancing Sub-Lease Commitments
2025$1,082 $6,510 $65,194 
20262,772 6,428 65,194 
20271,921 6,603 65,194 
20282,813 5,847 65,253 
20291,921 5,102 65,803 
Thereafter20,825 7,168 2,692,070 
Total minimum lease commitments$31,334 $37,658 $3,018,708 
Discounting factor10,048 5,122 2,155,334 
Lease liability$21,286 $32,536 $863,374 
Discount rates (1)
5.3% -7.0%
2.6% - 5.8%
5.6% - 8.3%
Weighted average remaining lease term12.2 years6.7 years51.7 years
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(1) The discount rates for the leases were determined based on the yield of our then current secured borrowings, adjusted to match borrowings of similar terms.