Other Liabilities

12 Months Ended

Dec. 31, 2020

Other Liabilities

Other Liabilities

12. Other Liabilities

Other liabilities consist of the following:

	December 31,		December 31,
	2020		2019
Accounts payable	$	25,376	$	16,207
Finance lease liability		316		204
Operating lease liabilities		808		691
Accrued compensation		3,337		3,151
Other accrued liabilities		6,892		3,277
Deferred revenue		16,632		18,972
Club initiation fees		10,716		6,917
Club membership deposits		3,764		3,985
Advance deposits		1,344		946
Accrued interest expense for Senior Notes held by SPE		2,850		2,850
Total other liabilities	$	72,035	$	57,200

Accounts payable as of December 31, 2020 and 2019 includes payables for projects under development and construction.

Deferred revenue as of December 31, 2020 and 2019 includes $11.5 million and $12.5 million, respectively, related to a 2006 agreement pursuant to which the Company agreed to sell land to the Florida Department of Transportation. Revenue is recognized when title to a specific parcel is legally transferred.

Club initiation fees are recognized as revenue over the estimated average duration of membership, which is evaluated periodically. The following table presents the changes in club initiation fees related to contracts with customers:

	Club Initiation Fees
Balance as of January 1, 2020	$	6,917
New club memberships		6,268
Revenue from amounts included in contract liability opening balance		(2,062)
Revenue from current period new memberships		(407)
Balance as of December 31, 2020	$	10,716

	Club Initiation Fees
Balance as of January 1, 2019	$	5,676
New club memberships		3,083
Revenue from amounts included in contract liability opening balance		(1,553)
Revenue from current period new memberships		(289)
Balance as of December 31, 2019	$	6,917

Remaining performance obligations represent contracted revenue that has not been recognized, which include club initiation fees. As of December 31, 2020 remaining performance obligations were $10.7 million, of which the Company expects to recognize as revenue $2.6 million in less than 1 year, $4.5 million in 1-3 years, $3.0 million in 3-5 years and $0.6 million after 5 years.

Advance deposits consist of deposits received on hotel rooms and related hospitality activities. Advance deposits are recorded as other liabilities in the consolidated balance sheets without regard to whether they are refundable and are recognized as income at the time the service is provided for the related deposit.