XML 35 R24.htm IDEA: XBRL DOCUMENT v3.21.1
Segment Information
 3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
We evaluate performance and make resource allocation decisions on an industry by industry basis. For financial reporting purposes, we have grouped our clients into 56 activity segments. All of the properties are incorporated into one of the applicable segments. Unless otherwise specified, all segments listed below are located within the U.S. Because almost all of our leases require our clients to pay or reimburse us for operating expenses, rental revenue is the only component of segment profit and loss we measure. Our investments in industries outside of the U.S. are managed as separate operating segments.
The following tables set forth certain information regarding the properties owned by us, classified according to the business of the respective clients (dollars in thousands):
Assets, as of:
March 31, 2021December 31, 2020
Segment net real estate:
Automotive service
$344,606 $328,340 
Beverages
364,648 347,366 
Child care
215,211 216,718 
Convenience stores
2,206,298 2,101,005 
Dollar stores
1,429,296 1,420,210 
Drug stores
1,537,245 1,555,106 
Financial services
370,908 374,508 
General merchandise
783,771 730,806 
Grocery stores - U.S.891,794 907,634 
Grocery stores - U.K.1,277,721 1,131,760 
Health and fitness
1,037,741 1,050,791 
Home improvement - U.S. 661,124 608,222 
Restaurants-casual dining
506,989 515,226 
Restaurants-quick service - U.S.1,065,871 1,062,918 
Theaters - U.S.759,516 767,117 
Transportation services
784,493 729,640 
Wholesale club
400,175 407,584 
Other non-reportable segments
3,559,695 3,230,205 
Total net real estate
18,197,102 17,485,156 
Intangible assets:
Automotive service57,485 55,018 
Beverages17,467 9,401 
Child care19,350 19,848 
Convenience stores118,475 121,151 
Dollar stores81,324 77,176 
Drug stores164,316 167,975 
Financial services13,922 14,611 
General merchandise119,686 108,646 
Grocery stores - U.S.176,727 181,764 
Grocery stores - U.K.305,624 282,211 
Health and fitness65,409 67,537 
Home improvement - U.S.103,351 97,228 
Restaurants-casual dining19,997 20,553 
Restaurants-quick service - U.S.46,210 47,517 
Theaters - U.S.27,460 28,292 
Transportation services59,989 53,902 
Wholesale club35,102 36,165 
Other non-reportable segments389,315 321,660 
Other corporate assets961,259 1,544,474 
Total assets
$20,979,570 $20,740,285 
Three months ended March 31,
Revenue20212020
Segment rental revenue:
Automotive service$9,918 $8,670 
Beverages8,952 7,996 
Child care8,502 9,481 
Convenience stores50,128 46,733 
Dollar stores32,506 31,391 
Drug stores35,048 35,299 
Financial services7,718 7,543 
General merchandise15,234 11,316 
Grocery stores - U.S.19,681 19,509 
Grocery stores - U.K.20,858 10,405 
Health and fitness28,610 28,278 
Home improvement - U.S.13,038 11,309 
Restaurants-casual dining11,748 12,538 
Restaurants-quick service - U.S.23,465 23,308 
Theaters - U.S.19,656 24,567 
Transportation services16,432 16,187 
Wholesale club9,941 9,588 
Other non-reportable segments and contractually obligated reimbursements
   by our clients
107,930 98,039 
Rental (including reimbursable)439,365 412,157 
Other3,439 2,184 
Total revenue$442,804 $414,341