XML 51 R11.htm IDEA: XBRL DOCUMENT v2.4.1.9
Notes Receivable
3 Months Ended
Mar. 31, 2015
Receivables [Abstract]  
Notes Receivable

6. NOTES RECEIVABLE:

As further discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, in connection with the development of Gaylord National, the Company is currently holding two issuances of bonds and receives the debt service thereon, which is payable from property tax increments, hotel taxes and special hotel rental taxes generated from Gaylord National through the maturity date. The Company is recording the amortization of discount on these notes receivable as interest income over the life of the notes.

During the three months ended March 31, 2015 and 2014, the Company recorded interest income of $3.0 million on these bonds. The Company received payments of $3.4 million and $3.5 million during the three months ended March 31, 2015 and 2014, respectively, relating to these notes receivable.