Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

As of December 31, 2019, the maximum amount of fundings the Company may be required to make under each category, assuming all performance hurdles and milestones are met under the Performance-Based Commitments and that 100% of its capital committed to Strategic Investments is drawn down, are as follows ($ in thousands):



	Loans and Other Lending Investments⁽¹⁾		Real Estate⁽²⁾		Other Investments		Total
Performance-Based Commitments	$	225,600	$	70,047	$	131,380	$	427,027
Strategic Investments	—		—		16,851		16,851
Total	$	225,600	$	70,047	$	148,231	$	443,878

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(1)	Excludes $14.3 million of commitments on loan participations sold that are not the obligation of the Company.

(2)

Includes a commitment to invest up to $55.0 million in additional bowling centers over the next several years (refer to Note 5).

Schedule of future minimum rental payments for operating leases

Future minimum operating lease payments to be collected under non-cancelable leases, excluding customer reimbursements of expenses, in effect as of December 31, 2019, are as follows ($ in thousands):



Year	Net Lease Assets		Operating Properties
2020	$	141,993	$	16,625
2021	141,763		16,293
2022	140,165		8,112
2023	131,998		7,822
2024	126,453		7,801

Future minimum lease obligations under non-cancelable operating and finance leases as of December 31, 2019 are as follows ($ in thousands):



	Operating⁽¹⁾⁽²⁾			Finance⁽¹⁾
2020	$	4,167		$	5,386
2021	1,803			5,494
2022	1,098			5,604
2023	728			5,716
2024	617			5,830
Thereafter	1,447			1,573,824
Total undiscounted cash flows	9,860			1,601,854
Present value discount⁽¹⁾	(1,057		)	(1,454,105		)
Other adjustments⁽²⁾	25,379			—
Lease liabilities	$	34,182		$	147,749

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(1)

During the year ended December 31, 2019, the Company made payments of $4.1 million related to its operating leases and $3.3 million related to its finance leases (refer to Note 4). The weighted average lease term for the Company's operating leases, excluding operating leases for which the Company's tenants pay rent on its behalf, was 4.2 years and the weighted average discount rate was 5.6%. The weighted average lease term for the Company's finance leases was 93 years and the weighted average discount rate was 5.4%.


(2)	The Company is obligated to pay ground rent under certain operating leases; however, the Company's tenants at the properties pay this expense directly under the terms of various subleases and these amounts are excluded from lease obligations. The amount shown above is the net present value of the payments to be made by the Company's tenants on its behalf.

Future minimum lease obligations under operating leases as of December 31, 2018 were as follows ($ in thousands):



	Operating⁽¹⁾
2019	$	4,340
2020	4,016
2021	1,589
2022	991
2023	849
Thereafter	2,469

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(1)

The Company is obligated to pay ground rent under certain operating leases; however, the Company's tenants at the properties pay this expense directly under the terms of various subleases and these amounts are excluded from lease obligations.