XML 38 R27.htm IDEA: XBRL DOCUMENT

Leases (Tables)

6 Months Ended

Jun. 30, 2019

The balance sheet classification of lease assets and liabilities was as follows:



	Balance Sheet Classification	June 30, 2019
Assets
Operating lease assets, gross	Operating lease right-of-use assets, net	$	626,855
Accumulated amortization	Operating lease right-of-use assets, net	(35,181		)
Total operating lease assets	Operating lease right-of-use assets, net	591,674
Fixed assets, gross	Fixed assets, net	8,337
Accumulated depreciation	Fixed assets, net	(1,077		)
Total finance lease assets	Fixed assets, net	7,260
Total lease assets		$	598,934
Liabilities
Current
Operating leases	Current portion of operating lease liabilities	$	72,709
Finance leases	Current portion of long-term debt	1,805
Non-current
Operating leases	Long-term operating lease liabilities	562,063
Finance leases	Long-term debt	5,339
Total lease liabilities		$	641,916

Supplemental Cash Flow Information

The weighted average remaining lease term and weighted average discount rate were as follows:



	June 30, 2019
Weighted average remaining lease term (years)
Operating leases	9.0 years
Finance leases	3.6 years
Weighted average discount rate
Operating leases	8.0	%
Finance leases	9.1	%

Supplemental cash flow information related to leases was as follows:



	June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	59,531
Operating cash flows from finance leases	$	158
Financing cash flows from finance leases	$	610
Leased assets obtained in exchange for new operating lease liabilities	$	17,812
Leased assets obtained in exchange for new finance lease liabilities	$	3,937

The components of lease costs were as follows:



	Statement of Operations Classification	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Operating lease costs	Club operating	$	30,167		$	60,189
Amortization of lease assets	Depreciation and amortization	366			625
Interest on lease liabilities	Interest expense	104			158
Finance lease costs		470			783
Variable lease costs	Club operating	141			351
Sublease income	Fees and other revenue	(909		)	(1,775		)
Total lease costs		$	29,869		$	59,548

Schedule of Lease Liabilities Maturity

As of June 30, 2019, the maturities of our lease liabilities were as follows:



	Operating Leases			Finance Leases			Total
2019	$	59,720		$	1,208		$	60,928
2020	118,112			2,385			120,497
2021	110,358			2,364			112,722
2022	102,453			1,909			104,362
2023	93,683			545			94,228
2024 and thereafter	427,709			—			427,709
Total lease payments	912,035			8,411			920,446
Less: imputed interest	(277,263		)	(1,267		)	(278,530		)
Lease liabilities	$	634,772		$	7,144		$	641,916

Schedule of Lease Liabilities Maturity

As of June 30, 2019, the maturities of our lease liabilities were as follows:



	Operating Leases			Finance Leases			Total
2019	$	59,720		$	1,208		$	60,928
2020	118,112			2,385			120,497
2021	110,358			2,364			112,722
2022	102,453			1,909			104,362
2023	93,683			545			94,228
2024 and thereafter	427,709			—			427,709
Total lease payments	912,035			8,411			920,446
Less: imputed interest	(277,263		)	(1,267		)	(278,530		)
Lease liabilities	$	634,772		$	7,144		$	641,916

Schedule of Future Minimum Lease Payments for Capital Leases

As of December 31, 2018, future minimum rental payments by fiscal year under non-cancelable leases and future capital lease payments are shown in the chart below.



	Minimum Annual Rental
Year Ending December 31,
2019	$	110,215
2020	107,143
2021	96,768
2022	83,766
2023	70,892
2024 and thereafter	325,644
Total	$	794,428

Schedule of Future Minimum Rental Payments for Operating Leases

The Company, as landlord, leases space to third party tenants under non-cancelable operating leases and licenses. In addition to base rent, certain leases provide for additional rent based on increases in real estate taxes, indexation, utilities and defined amounts based on the operating results of the lessee. The sub-leases expire at various times through January 2023. As of December 31, 2018, future minimum rentals receivable by fiscal year under non-cancelable leases are shown in the chart below.



	Minimum Annual Rental
Year Ending December 31,
2019	$	2,477
2020	1,658
2021	1,189
2022	485
2023	5
2024 and thereafter	—
Total	$	5,814