Summary of Significant Accounting Policies (Tables)
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9 Months Ended |
Sep. 30, 2021 |
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| Accounting Policies [Abstract] |
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| Prepaid Expenses |
Prepaid expenses and other current assets consisted of the following:
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September 30,
2021 |
|
December 31,
2020 |
| Property held for sale |
$ |
— |
|
|
$ |
49,686 |
|
| Construction contract receivables |
5,645 |
|
|
12,398 |
|
| Deferred membership origination costs |
4,177 |
|
|
7,212 |
|
| Prepaid expenses |
25,392 |
|
|
17,935 |
|
| Prepaid expenses and other current assets |
$ |
35,214 |
|
|
$ |
87,231 |
|
|
| Other Current Assets |
Prepaid expenses and other current assets consisted of the following:
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September 30,
2021 |
|
December 31,
2020 |
| Property held for sale |
$ |
— |
|
|
$ |
49,686 |
|
| Construction contract receivables |
5,645 |
|
|
12,398 |
|
| Deferred membership origination costs |
4,177 |
|
|
7,212 |
|
| Prepaid expenses |
25,392 |
|
|
17,935 |
|
| Prepaid expenses and other current assets |
$ |
35,214 |
|
|
$ |
87,231 |
|
|
| Accrued Expenses |
Accrued expenses and other current liabilities consisted of the following:
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September 30,
2021 |
|
December 31,
2020 |
| Real estate taxes |
$ |
33,814 |
|
$ |
31,015 |
| Accrued interest |
41,673 |
|
15,010 |
| Payroll liabilities |
29,146 |
|
17,136 |
| Utilities |
7,774 |
|
5,379 |
| Self-insurance accruals |
24,963 |
|
22,444 |
| Corporate accruals |
24,711 |
|
24,123 |
| Dividends payable |
16,414 |
|
— |
| Current maturities of finance lease liabilities |
1,383 |
|
1,171 |
| Other |
3,825 |
|
1,397 |
| Accrued expenses and other current liabilities |
$ |
183,703 |
|
$ |
117,675 |
|
| Other Current Liabilities |
Accrued expenses and other current liabilities consisted of the following:
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|
September 30,
2021 |
|
December 31,
2020 |
| Real estate taxes |
$ |
33,814 |
|
$ |
31,015 |
| Accrued interest |
41,673 |
|
15,010 |
| Payroll liabilities |
29,146 |
|
17,136 |
| Utilities |
7,774 |
|
5,379 |
| Self-insurance accruals |
24,963 |
|
22,444 |
| Corporate accruals |
24,711 |
|
24,123 |
| Dividends payable |
16,414 |
|
— |
| Current maturities of finance lease liabilities |
1,383 |
|
1,171 |
| Other |
3,825 |
|
1,397 |
| Accrued expenses and other current liabilities |
$ |
183,703 |
|
$ |
117,675 |
|
| Basic and Diluted Loss Per Share |
The following table sets forth the calculation of basic and diluted loss per share for both the three and nine months ended September 30, 2021 and 2020:
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Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
| Net loss |
$ |
(45,442) |
|
$ |
(93,647) |
|
$ |
(274,599) |
|
$ |
(276,304) |
| Dividends accrued on Series A Preferred Stock |
(6,126) |
|
— |
|
(16,414) |
|
— |
| Loss available to common stockholders |
$ |
(51,568) |
|
$ |
(93,647) |
|
$ |
(291,013) |
|
$ |
(276,304) |
| Weighted average common shares outstanding—basic and diluted |
145,196 |
|
145,196 |
|
145,196 |
|
145,118 |
| Loss per share—basic and diluted |
$ |
(0.36) |
|
$ |
(0.64) |
|
$ |
(2.00) |
|
$ |
(1.90) |
|
| Potential Common Shares Excluded from Computation of Diluted Loss Per Share |
The following is a summary of potential shares of common stock that were excluded from the computation of diluted loss per share for both the three and nine months ended September 30, 2021 and 2020:
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Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
| Stock options |
24,118 |
|
21,252 |
|
24,118 |
|
21,252 |
| Unvested restricted stock units |
610 |
|
— |
|
610 |
|
— |
| Outstanding shares of Series A Preferred Stock |
5,430 |
|
— |
|
5,430 |
|
— |
| Unvested restricted Series A Preferred Stock |
500 |
|
— |
|
500 |
|
— |
| Potential common shares excluded from diluted loss per share |
30,658 |
|
21,252 |
|
30,658 |
|
21,252 |
|