Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.21.2
Leases (Tables)
9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Schedule Of Lease Information

As of

As of

September 30, 2021

December 31, 2020

(2)

Operating lease assets

$

76,913

$

13,488

Operating lease liabilities

$

88,091

$

14,141

Weighted average remaining lease term (years)

6.6

7.0

Weighted average discount rate (1)

4.35

%

5.36

%

(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.

(2)Excludes 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 Three Months Ended September 30,

For the Nine Months Ended September 30,

2021

2020

2021

2020

Fixed lease costs

$

4,308

$

4,298

$

6,604

$

13,306

Short-term lease costs

327

38

942

36

Variable lease costs

2,384

933

3,216

3,231

Total operating lease costs

$

7,019

$

5,269

$

10,762

$

16,573

Schedule Of Operating Lease Maturity

Period Ending December 31,

2021

$

3,405

2022

17,003

2023

17,183

2024

14,717

2025

13,361

After 2025

36,803

Total lease payments

102,472

Less: interest

14,381

Present value of lease liabilities

$

88,091