BBX Capital Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

Leases (Tables)

9 Months Ended

Sep. 30, 2021



	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