XML 41 R28.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Commitments and Contingencies | 12 Months Ended
--- | ---
Dec. 31, 2014
Commitments and Contingencies. |
Commitments and Contingencies | 21. Commitments and Contingencies In the ordinary course of business, we are party to various legal actions which we believe are routine in nature and incidental to the operation of our business. We believe that the outcome of the proceedings will not have a material adverse effect upon our consolidated financial position or results of operations. At December 31, 2014, we had contingent obligations of $735,000 for tenant improvements and leasing costs. In addition, as of December 31, 2014, we had committed $33.6 million under construction contracts, which is expected to be paid in the next twelve months. We have certain properties that are subject to ground leases which are accounted for as operating leases. At December 31, 2014, minimum future rental payments for the next five years and thereafter are as follows (dollars in millions):
|  | Ground Leases |  | Ground Leases |  |  |
|  | Paid by |  | Paid by |  |  |
|  | Realty Income | (1) | Our Tenants | (2) | Total |
2015 |  | $ | 1.0 |  | $ | 12.7 |  | $ | 13.7 |
2016 |  | 1.0 |  | 12.7 |  | 13.7 |
2017 |  | 1.0 |  | 12.8 |  | 13.8 |
2018 |  | 1.0 |  | 12.8 |  | 13.8 |
2019 |  | 0.9 |  | 12.7 |  | 13.6 |
Thereafter |  | 8.4 |  | 131.9 |  | 140.3 |
Total |  | $ | 13.3 |  | $ | 195.6 |  | $ | 208.9 |
(1) Realty Income currently pays the ground lessors directly for the rent under the ground leases. (2) Our tenants, who are generally sub-tenants under the ground leases, are responsible for paying the rent under these ground leases. In the event a tenant fails to pay the ground lease rent, we are primarily responsible.

X
- Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.25) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14435-108349 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308 + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration