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Noncontrolling Interests | 6 Months Ended
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Jun. 30, 2022
Noncontrolling Interest [Abstract] |
Noncontrolling Interests | Noncontrolling Interests There are four entities with noncontrolling interests that we consolidate, including an operating partnership, Realty Income, L.P., a joint venture acquired in 2019, and two development joint ventures, one acquired in 2020 and one acquired in May 2021. The following table represents the change in the carrying value of all noncontrolling interests through June 30, 2022 (dollars in thousands):
| Realty Income, L.P. units (1) |  | Other Noncontrolling Interests |  | Total
Carrying value at December 31, 2021 | $ | 62,416 |  |  | $ | 14,410 |  |  | $ | 76,826 |
Distributions | (1,624) |  |  | (152) |  |  | (1,776) |
Allocation of net income | 1,095 |  |  | 122 |  |  | 1,217 |
Carrying value at June 30, 2022 | $ | 61,887 |  |  | $ | 14,380 |  |  | $ | 76,267 |
(1) 1,060,709 units were outstanding as of both June 30, 2022 and December 31, 2021. At June 30, 2022, Realty Income, L.P. and certain of our joint venture investments are considered VIEs in which we were deemed the primary beneficiary based on our controlling financial interests. Below is a summary of selected financial data of consolidated VIEs included on our consolidated balance sheets at June 30, 2022, and December 31, 2021 (in thousands):
| June 30, 2022 |  | December 31, 2021
Net real estate | $ | 705,322 |  | $ | 688,229 |
Total assets | $ | 804,027 |  | $ | 795,670 |
Total liabilities | $ | 59,033 |  | $ | 57,057 |

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- Definition The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI https://asc.fasb.org/topic&trid=2197479 + Details
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- References No definition available. + Details
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