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Allowance for Credit Losses (Tables)

6 Months Ended

Jun. 30, 2020

Credit Loss [Abstract]

Net Investment in Lease, Allowance for Credit Loss

The following tables detail the allowance for credit losses included as a component in our investments in leases - direct financing and sales-type, Investments in leases - financing receivables and investments in loans as of June 30, 2020 and January 1, 2020, the date of adoption:

			June 30, 2020
(In thousands, except for %)			Amortized Cost						Allowance						Net Investment						Allowance as a % of Amortized Cost
Investments in leases - direct financing and sales-type			$	10,727,992					$	(355,336)					$	10,372,656					3.31		%
Investments in leases - financing receivables			850,253						(37,617)						812,636						4.42		%
Investments in loans			50,313						(437)						49,876						0.87		%
Totals			$	11,628,558					$	(393,390)					$	11,235,168					3.38		%

			January 1, 2020
(In thousands, except for %)			Amortized Cost						Allowance						Net Investment						Allowance as a % of Amortized Cost
Investments in leases - direct financing and sales-type			$	10,734,245					$	(309,362)					$	10,424,883					2.88		%
Investments in leases - financing receivables			—						—						—						—		%
Investments in loans			—						—						—						—		%
Totals			$	10,734,245					$	(309,362)					$	10,424,883					2.88		%

The following chart reflects the roll-forward of the allowance for credit losses on our real estate portfolio for the six months ended June 30, 2020:

(In thousands)						Six Months Ended June 30, 2020
Beginning Balance December 31, 2019						$	—
Initial allowance upon adoption						309,362
Initial allowance from current period acquisitions						22,158
Current period change in credit allowance						61,870
Write-offs						—
Recoveries						—
Ending Balance June 30, 2020						$	393,390

Financing Receivable Credit Quality Indicators

The following tables detail the amortized cost basis of our investments by the credit quality indicator we assigned to each lease or loan guarantor as of June 30, 2020 and January 1, 2020, the date of adoption:

			June 30, 2020
(In thousands)			Ba2						Ba3						B1						B2						B3						Total
Investments in leases - direct financing, sales-type and financing receivable and investments in loans			$	—					$	561,116					$	9,886,007					$	900,566					$	280,869					$	11,628,558

			January 1, 2020
(In thousands)			Ba2						Ba3						B1						B2						B3						Total
Investments in leases - direct financing, sales-type and financing receivable and investments in loans			$	1,527,776					$	—					$	8,926,229					$	280,240					$	—					$	10,734,245

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- References

No definition available.

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- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919230-210447

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953659-111524

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- Definition

Tabular disclosure of allowance for credit loss on net investment in sales-type and direct financing leases.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919249-210447

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