Related Party Transactions	9 Months Ended
Sep. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	11. Related Party Transactions BVH may be deemed to be controlled by Alan B. Levan, Chairman, Chief Executive Officer and President of BVH, John E. Abdo, Vice Chairman of BVH, Jarett S. Levan, a director of BVH and its former President and Seth M. Wise, director of BVH and former Executive Vice President. Together, they may be deemed to beneficially own shares of BVH’s Class A Common Stock and Class B Common Stock representing approximately 78% of BVH’s total voting power. Mr. Alan Levan is our Chairman and was appointed our President and Chief Executive Officer effective January 1, 2020. During 2019, we accrued $2.0 million of compensation for Mr. Alan Levan for the performance of certain services for us in a non-executive capacity, all of which was paid during March 2020. John E. Abdo is our Vice Chairman, has been in an executive capacity since October 1, 2020 and previously been in a non-executive capacity. Further, Mr. Jarett Levan and Mr. Wise are members of our Board. In addition, Raymond S. Lopez serves as our Chief Operating Officer and Chief Financial Officer and as BVH’s Chief Financial Officer. Mr. Alan Levan, Mr. Abdo and Mr. Lopez receive a significant portion of their compensation from us for their services to us and to BVH. In April 2015, pursuant to a Loan Agreement and Promissory Note, our wholly-owned subsidiary provided an $80.0 million loan to BVH. Amounts outstanding bore interest at a rate of 6% per annum until April 17, 2020, at which time the interest rate was decreased to 4% per annum. Interest only payments were required on a quarterly basis, with all outstanding amounts becoming due and payable at maturity. In March 2020, the Loan Agreement and Promissory Note was amended to extend the maturity date from April 17, 2020 to April 17, 2021. During the three months ended September 30, 2020 and 2019, we recognized $0.5 million and $1.2 million of interest income on the loan to BVH, respectively. During the nine months ended September 30, 2020 and 2019, we recognized $2.5 million and $3.6 million, respectively, of interest income on the loan to BVH. We paid on August 21, 2020, a special cash dividend of $1.19 per share of our common stock. During August 2020, BVH utilized its proceeds from the special cash dividend to repay the loan in full. We paid or reimbursed BVH or its affiliated entities at the time $0.7 million and $1.3 million during the three and nine months ended September 30, 2020, respectively, and $0.4 and $1.3 million during the three and nine months ended September 30, 2019, respectively, for management advisory, risk management, administrative and other services. We had accrued $0.2 million and $0.2 million for the services described above as of September 30, 2020 and December 31, 2019, respectively. BVH or its affiliates at the time paid or reimbursed us $0.1 million and $0.2 million during the three and nine months ended September 30, 2020, respectively, and $0.2 million during the three and nine months ended September 30, 2019 for certain shared services. As of both September 30, 2020 and December 31, 2019, $0.1 million was due to us for these services. See also the description of the Agreement to Allocate Consolidated Income Tax Liability and Benefits under Note 10: Income Taxes above.

Related Party Transactions

9 Months Ended

Sep. 30, 2020

11. Related Party Transactions

BVH may be deemed to be controlled by Alan B. Levan, Chairman, Chief Executive Officer and President of BVH, John E. Abdo, Vice Chairman of BVH, Jarett S. Levan, a director of BVH and its former President and Seth M. Wise, director of BVH and former Executive Vice President. Together, they may be deemed to beneficially own shares of BVH’s Class A Common Stock and Class B Common Stock representing approximately 78% of BVH’s total voting power. Mr. Alan Levan is our Chairman and was appointed our President and Chief Executive Officer effective January 1, 2020. During 2019, we accrued $2.0 million of compensation for Mr. Alan Levan for the performance of certain services for us in a non-executive capacity, all of which was paid during March 2020. John E. Abdo is our Vice Chairman, has been in an executive capacity since October 1, 2020 and previously been in a non-executive capacity. Further, Mr. Jarett Levan and Mr. Wise are members of our Board. In addition, Raymond S. Lopez serves as our Chief Operating Officer and Chief Financial Officer and as BVH’s Chief Financial Officer. Mr. Alan Levan, Mr. Abdo and Mr. Lopez receive a significant portion of their compensation from us for their services to us and to BVH.

In April 2015, pursuant to a Loan Agreement and Promissory Note, our wholly-owned subsidiary provided an $80.0 million loan to BVH. Amounts outstanding bore interest at a rate of 6% per annum until April 17, 2020, at which time the interest rate was decreased to 4% per annum. Interest only payments were required on a quarterly basis, with all outstanding amounts becoming due and payable at maturity. In March 2020, the Loan Agreement and Promissory Note was amended to extend the maturity date from April 17, 2020 to April 17, 2021. During the three months ended September 30, 2020 and 2019, we recognized $0.5 million and $1.2 million of interest income on the loan to BVH, respectively. During the nine months ended September 30, 2020 and 2019, we recognized $2.5 million and $3.6 million, respectively, of interest income on the loan to BVH. We paid on August 21, 2020, a special cash dividend of $1.19 per share of our common stock. During August 2020, BVH utilized its proceeds from the special cash dividend to repay the loan in full.

We paid or reimbursed BVH or its affiliated entities at the time $0.7 million and $1.3 million during the three and nine months ended September 30, 2020, respectively, and $0.4 and $1.3 million during the three and nine months ended September 30, 2019, respectively, for management advisory, risk management, administrative and other services. We had accrued $0.2 million and $0.2 million for the services described above as of September 30, 2020 and December 31, 2019, respectively. BVH or its affiliates at the time paid or reimbursed us $0.1 million and $0.2 million during the three and nine months ended September 30, 2020, respectively, and $0.2 million during the three and nine months ended September 30, 2019 for certain shared services. As of both September 30, 2020 and December 31, 2019, $0.1 million was due to us for these services.

See also the description of the Agreement to Allocate Consolidated Income Tax Liability and Benefits under Note 10: Income Taxes above.