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Notes Receivable, Net and Other (Tables)

9 Months Ended

Sep. 30, 2023

Receivables [Abstract]

Schedule of Accounts and Notes Receivable

Notes receivable, net are summarized in the table below (dollars in thousands):

			Interest Rate						September 30, 2023						December 31, 2022
Certificate of Occupancy Note (1) (3)
Face amount			7.0		%				$	—					$	5,250
Discount (2)									—						(188)
Notes receivable, net									$	—					$	5,062

____________________________________

(1)    The outstanding principal balance and all accrued and unpaid interest was due and payable on or before July 9, 2025. The note was paid in full on July 14, 2023.

(2)    The discount represented the imputed interest during the interest-free period.

(3)    The note receivable was secured by the 1.65-acre land parcel adjacent to the Hilton St. Petersburg Bayfront

The following table summarizes the note receivable (dollars in thousands):

			Interest Rate						September 30, 2023						December 31, 2022
Note receivable			18.0		%				$	5,721					$	—

The components of the receivable, which is included in “other assets” in the consolidated balance sheet, are summarized below (dollars in thousands):

			Imputed Interest Rate						September 30, 2023						December 31, 2022
Deferred Consideration
Face amount			10.0		%				$	1,500					$	1,500
Discount (1)									(142)						(240)
									$	1,358					$	1,260

_______________

(1)    The discount represents the imputed interest during the interest-free period.

Schedule of Other Income (Expense)

We recognized discount amortization income as presented in the table below (in thousands):

						Three Months Ended September 30,												Nine Months Ended September 30,
Line Item						2023						2022						2023						2022
Other income (expense)						$	9					$	86					$	188					$	252

The following table summarizes the interest income associated with the note receivable (in thousands):

						Three Months Ended September 30,						Nine Months Ended September 30,
Line Item						2023												2023
Other income (expense)						$	192											$	212

We recognized discount amortization income as presented in the table below (in thousands):

						Three Months Ended September 30,												Nine Months Ended September 30,
Line Item						2023												2022						2023						2022
Other income (expense)						$	34											$	10					$	98					$	10

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- References

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- Definition

Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

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- Definition

Tabular disclosure of the components of non-operating income or non-operating expense that may include amounts earned from dividends, interest on securities, gains (losses) on securities sold, equity earnings of unconsolidated affiliates, net gain (loss) on sales of business, interest expense and other miscellaneous income or expense items.

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