Investments and Dispositions

3 Months Ended

Mar. 31, 2014

Investments And Dispositions [Abstract]

Investments and Dispositions

Investments

The Company's investment spending during the three months ended March 31, 2014 totaled $68.5 million, and included investments in each of its four operating segments.

Entertainment investment spending during the three months ended March 31, 2014 totaled $10.3 million, and was related primarily to investments in build-to-suit construction of four megaplex theatres, redevelopment of two existing megaplex theatres and two family entertainment centers that are subject to long-term triple net leases or long-term mortgage agreements.

Education investment spending during the three months ended March 31, 2014 totaled $36.3 million, and was related to investments in build-to-suit construction of 14 public charter schools, three private schools and six early childhood education centers, as well as the acquisition of one early childhood education center located in Mesa, Arizona, each of which is subject to a long-term triple net lease or long-term mortgage agreement.

Recreation investment spending during the three months ended March 31, 2014 totaled $20.7 million, and was related to build-to-suit construction of nine TopGolf golf entertainment facilities, as well as funding improvements at the Company's ski property located in Maryland.

Other investment spending during the three months ended March 31, 2014 totaled $1.2 million, and was related to the land held for development in Sullivan County, New York.