Related-Party Transactions

3 Months Ended

Mar. 31, 2018

Related Party Transactions

Related-Party Transactions

15. Related-Party Transactions

The majority stockholders of RIHI, including the Company’s current Chairman and Co-Founder and the Company’s Vice Chair and Co-Founder have made and continue to make a golf course they own available to the Company for business purposes. The Company used the golf course and related facilities for business purposes at minimal charge for the three months ended March 31, 2018 and 2017. 

The Company provides services, such as accounting, legal, marketing, technology, human resources and public relations services, to certain affiliated entities (primarily the Company’s affiliated advertising funds), and it allows these companies to share its leased office space. During the three months ended March 31, 2018 and 2017, the total amounts allocated for services rendered and rent for office space provided on behalf of affiliated entities were $1.0 million and $0.8 million, respectively. Amounts are generally paid within 30 days and no amounts were outstanding at March 31, 2018 or December 31, 2017. 

Related party advertising funds had current outstanding amounts due from the Company of $0.2 million and $0.1 million as of March 31, 2018 and December 31, 2017, respectively. Such amounts are included in “Accounts payable” in the accompanying Condensed Consolidated Balance Sheets.