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Distributions Paid and Payable | 12 Months Ended
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Dec. 31, 2022
Dividends [Abstract] |
Distributions Paid and Payable | Distributions Paid and Payable We pay monthly distributions to our common stockholders. The following is a summary of monthly distributions paid per common share for the years ended December 31, 2022, 2021, and 2020:
Month | 2022 |  | 2021 |  | 2020
January | $ | 0.2465 |  | $ | 0.2345 |  |  | $ | 0.2275 |
February | 0.2465 |  | 0.2345 |  |  | 0.2325 |
March | 0.2465 |  | 0.2345 |  |  | 0.2325 |
April | 0.2470 |  | 0.2350 |  |  | 0.2330 |
May | 0.2470 |  | 0.2350 |  |  | 0.2330 |
June | 0.2470 |  |  | 0.2350 |  |  | 0.2330 |
July | 0.2475 |  |  | 0.2355 |  |  | 0.2335 |
August | 0.2475 |  |  | 0.2355 |  |  | 0.2335 |
September | 0.2475 |  |  | 0.2355 |  |  | 0.2335 |
October | 0.2480 |  | 0.2360 |  |  | 0.2340 |
November | 0.2480 |  | 0.2360 |  |  | 0.2340 |
December | 0.2480 |  | 0.2460 |  |  | 0.2340 |
Total | $ | 2.9670 |  |  | $ | 2.8330 |  |  | $ | 2.7940 |
At December 31, 2022, a distribution of $0.2485 per common share was payable and was paid in January 2023. At December 31, 2021, a distribution of $0.2465 per common share was payable and was paid in January 2022. The following presents the federal income tax characterization of distributions paid or deemed to be paid per common share for the years:
|  | 2022 |  | 2021 |  | 2020
Ordinary income |  | $ | 2.7867654 |  |  | $ | 1.5146899 |  |  | $ | 2.2798764 |
Nontaxable distributions |  | — |  |  | 3.2925615 |  |  | 0.4902835 |
Total capital gain distribution (1) |  | 0.1802346 |  |  | 0.0854609 |  |  | 0.0238401 |
Totals (2) |  | $ | 2.9670000 |  |  | $ | 4.8927123 |  |  | $ | 2.7940000 |
(1) Unrecaptured Section 1250 Gain of $0.0784152, or 2.643% of the total common dividends paid in the year ended December 31, 2022, and Section 897 Gain of $0.1802346, or 6.075% of the total common dividends paid in the year ended December 31, 2022, both represent additional characterization of, and are part of, total capital gain distribution. (2) The amount distributed in 2021 includes the $2.060 tax distribution of Orion shares, that occurred in conjunction with the Orion Divestiture on November 12, 2021, after our merger with VEREIT on November 1, 2021. The fair market value of these shares for tax distribution was determined to be $20.6272 per share, which was calculated using the five-day volume weighted average share price after issuance.

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- Definition This element may be used to capture the complete disclosure pertaining to an entity's capital units or capital shares, including the value of capital units or capital shares, units authorized, units outstanding and other information necessary to a fair presentation. Additionally, this text block may be used to disclose all or some of the information related to dividends declared, but not paid, as of the financial reporting date. + References No definition available. + Details
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