Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.20.4
Leases (Tables)
12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Schedule Of Lease Information







 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



 

As of

 

As of



 

December 31, 2020

 

December 31,  2019 (2)

Operating lease assets

 

$

13,488 

 

 

$

87,082 

 

Operating lease liabilities

 

$

14,141 

 

 

$

99,568 

 

Weighted average remaining lease term (years)

 

 

7.0 

 

 

 

6.6 

 

Weighted average discount rate (1)

 

 

5.36 

%

 

 

5.26 

%



(1)

As most of the Company’s lease agreements do not provide an implicit rate, the Company estimates incremental secured borrowing rates corresponding to the maturities of its lease agreements to determine the present value of future lease payments. To estimate incremental borrowing rates applicable to BBX Capital and its subsidiaries, the Company considers various factors, including the rates applicable to its recently issued debt and credit facilities and prevailing financial market conditions. The Company used the incremental borrowing rates applicable to BBX Capital and its subsidiaries on January 1, 2019 for operating leases that commenced prior to that date.

(2)

Includes IT’SUGAR’s operating leases. On September 22, 2020, the Company deconsolidated IT’SUGAR as a result of IT’SUGAR filing the Bankruptcy Cases and derecognized its operating lease assets and liabilities.



Schedule Of Lease Costs



 

 

 

 

 

 



 

 

 

 

 

 



 

For the Years Ended



 

December 31, 2020

 

December 31, 2019

Fixed lease costs

 

$

14,111 

 

$

19,944 

Short-term lease costs

 

 

283 

 

 

121 

Variable lease costs

 

 

3,584 

 

 

5,763 

Total operating lease costs

 

$

17,978 

 

$

25,828 



Schedule Of Operating Lease Maturity



 

 

 



 

 

 

Years Ending December 31,

 

 

 

2021

 

$

3,113 

2022

 

 

2,511 

2023

 

 

2,082 

2024

 

 

2,054 

2025

 

 

1,940 

After 2025

 

 

5,356 

Total lease payments

 

 

17,056 

Less: interest

 

 

2,915 

Present value of lease liabilities

 

$

14,141