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Intangibles

12 Months Ended

Dec. 31, 2024

Intangibles

Intangibles

5.Intangibles

The following table summarizes the Company’s intangible assets and liabilities:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

As of December 31, 2024

​

As of December 31, 2023

​

​

​

​

​

Accumulated

​

Net

​

Gross

​

Accumulated

​

Net

​

​

Gross Asset

​

(Amortization)/

​

Carrying

​

Asset

​

(Amortization)/

​

Carrying

in thousands

​

(Liability)

Accretion

Amount

(Liability)

Accretion

Amount

Intangible Assets:

​

​

​

​

​

​

License agreement with MLB (a)

​

$

24,872

​

$

(9,949)

$

14,923

​

$

24,872

$

(7,354)

$

17,518

Other definite lived intangibles (b)

​

​

6,844

​

​

(4,388)

​

2,456

​

​

6,844

​

(3,828)

​

3,016

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Tenant leases:

​

​

​

​

​

​

​

​

​

​

​

​

Below-market

​

​

(3,679)

​

​

3,679

​

—

​

​

(3,679)

​

3,403

​

(276)

Total amortizing intangibles

​

$

28,037

$

(10,658)

$

17,379

​

$

28,037

$

(7,779)

$

20,258

(a) Represents 10-year player development agreement between the Aviators and MLB.

(b) Includes a franchise relationship and food and beverage contract associated with the Aviators

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The tenant below-market lease intangible liabilities resulted from real estate acquisitions. The below-market tenant leases are included in Accounts payable and other liabilities and are amortized over the remaining non-cancelable terms of the respective leases. See Note 4 – Other Assets and Liabilities for additional information regarding Other assets, net and Accounts payable and other liabilities. The Company has no indefinite lived intangible assets.

Net amortization and accretion expense for these intangible assets and liabilities was $2.9 million, $2.8 million, and $2.8 million in 2024, 2023, and 2022, respectively.

Future net amortization and accretion expense is estimated for each of the five succeeding years as shown below:

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​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
in thousands		2025			2026			2027			2028			2029
Net amortization and accretion expense		$	3,155	​	$	3,155		$	2,895	​	$	2,844	​	$	2,844

5.

X

- References

No definition available.

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X

- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-30/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 985
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481283/985-20-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 985
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/985-20/tableOfContent

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