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Allowance for Credit Losses (Tables) | 6 Months Ended
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Jun. 30, 2022
Credit Loss [Abstract] |
Net Investment in Lease, Allowance for Credit Loss | The following tables detail the allowance for credit losses as of June 30, 2022 and December 31, 2021:
| June 30, 2022
($ In thousands) | Amortized Cost |  | Allowance (1) |  | Net Investment |  | Allowance as a % of Amortized Cost
Investments in leases - sales-type | $ | 17,658,038 |  |  | $ | (582,181) |  |  | $ | 17,075,857 |  |  | 3.30 | %
Investments in leases - financing receivables | 17,034,801 |  |  | (548,279) |  |  | 16,486,522 |  |  | 3.22 | %
Investments in loans | 546,017 |  |  | (855) |  |  | 545,162 |  |  | 0.16 | %
Other assets - sales-type sub-leases | 788,572 |  |  | (17,597) |  |  | 770,975 |  |  | 2.23 | %
Totals | $ | 36,027,428 |  |  | $ | (1,148,912) |  |  | $ | 34,878,516 |  |  | 3.19 | %
| December 31, 2021
($ In thousands) | Amortized Cost |  | Allowance (1) |  | Net Investment |  | Allowance as a % of Amortized Cost
Investments in leases - sales-type | $ | 13,571,516 |  |  | $ | (434,852) |  |  | $ | 13,136,664 |  |  | 3.20 | %
Investments in leases - financing receivables | 2,735,948 |  |  | (91,124) |  |  | 2,644,824 |  |  | 3.33 | %
Investments in loans | 498,775 |  |  | (773) |  |  | 498,002 |  |  | 0.15 | %
Other assets - sales-type sub-leases | 280,510 |  |  | (6,540) |  |  | 273,970 |  |  | 2.33 | %
Totals | $ | 17,086,749 |  |  | $ | (533,289) |  |  | $ | 16,553,460 |  |  | 3.12 | %
____________________ (1) The total allowance excludes the CECL allowance for unfunded commitments, primarily related to the Venetian PGF, the BigShots Loan and the Cabot Citrus Farms Loan. As of June 30, 2022 and December 31, 2021, such allowance is $18.1 million and $1.0 million, respectively, and is recorded in Other liabilities. 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, 2022 and 2021:
|  | Six Months Ended June 30,
(In thousands) |  | 2022 |  | 2021
Beginning Balance December 31, |  | $ | 534,326 |  |  | $ | 553,879 |
Initial allowance from current period investments |  | 515,697 |  |  | 1,725 |
Current period change in credit allowance |  | 116,999 |  |  | (35,209) |
Charge-offs |  | — |  |  | — |
Recoveries |  | — |  |  | — |
Ending Balance June 30, |  | $ | 1,167,022 |  |  | $ | 520,395 |
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, 2022 and 2021:
|  |  | June 30, 2022
(In thousands) |  |  | Ba2 |  | Ba3 |  | B1 |  | B2 |  | B3 |  | N/A(2) |  | Total
Investments in leases - sales-type and financing receivable, Investments in loans and Other assets (1) |  |  | $ | 4,214,233 |  |  | $ | 15,566,631 |  |  | $ | 14,948,277 |  |  | $ | 872,396 |  |  | $ | 279,906 |  |  | $ | 145,986 |  |  | $ | 36,027,428 |
|  |  | June 30, 2021
(In thousands) |  |  | Ba2 |  | Ba3 |  | B1 |  | B2 |  | B3 |  | N/A(2) |  | Total
Investments in leases - sales-type and financing receivable, Investments in loans and Other assets (1) |  |  | $ | — |  |  | $ | 954,181 |  |  | $ | 15,743,112 |  |  | $ | — |  |  | $ | 281,657 |  |  | $ | 65,011 |  |  | $ | 17,043,962 |
____________________ (1)Excludes the CECL allowance for unfunded commitments recorded in Other liabilities as such commitments are not currently reflected on our Balance Sheet, rather the CECL allowance is based on our current best estimate of future funding commitments. (2)We estimate the CECL allowance for the Chelsea Piers Mortgage Loan, Great Wolf Maryland Loan, BigShots Loan and Cabot Citrus Farms Loan using a traditional commercial real estate model based on standardized credit metrics to estimate potential losses.

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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 https://asc.fasb.org/extlink&oid=124255953&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 https://asc.fasb.org/extlink&oid=123577603&loc=SL6953659-111524 + Details
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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 https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 + Details
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