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VICI PROPERTIES L.P. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Income from sales-type leases $ 375,169 $ 291,132 $ 701,904 $ 581,278
Income from lease financing receivables and loans 261,721 69,996 334,599 140,373
Other income 15,563 6,987 23,949 13,961
Total revenues 662,623 376,400 1,079,248 750,710
Operating expenses        
General and administrative 11,782 7,628 21,248 15,713
Depreciation 779 757 1,555 1,549
Other expenses 15,563 6,987 23,949 13,961
Change in allowance for credit losses 551,876 (29,104) 632,696 (33,484)
Transaction and acquisition expenses 16,664 791 17,419 9,512
Total operating expenses 602,523 (7,709) 708,011 16,989
Income from unconsolidated affiliate 15,134 0 15,134 0
Interest expense (133,128) (79,806) (201,270) (156,854)
Interest income 780 30 873 49
(Loss) income before income taxes (57,114) 304,333 185,974 576,916
Income tax expense (1,027) (1,256) (1,427) (1,740)
Net (loss) income (58,141) 303,077 184,547 575,176
Less: Net loss (income) attributable to non-controlling interests 435 (2,368) (1,870) (4,666)
Net (loss) income attributable to common stockholders $ (57,706) $ 300,709 $ 182,677 $ 570,510
Net (loss) income per common share        
Basic (in dollars per share) $ (0.06) $ 0.56 $ 0.23 $ 1.06
Diluted (in dollars per share) $ (0.06) $ 0.54 $ 0.23 $ 1.04
Weighted average number of shares of common stock outstanding        
Basic (in shares) 896,545,880 536,692,167 791,029,664 536,586,921
Diluted (in shares) 896,545,880 554,438,981 793,224,837 549,620,976
Other comprehensive income        
Net (loss) income attributable to common stockholders $ (57,706) $ 300,709 $ 182,677 $ 570,510
Unrealized gain on cash flow hedges 91,939 9,328 200,550 21,706
Reclassification of realized loss on cash flow hedges to net income (4,159) 0 (4,159) 0
Comprehensive income attributable to common stockholders 30,126 310,037 379,120 592,216
VICI Properties LP        
Revenues        
Income from sales-type leases 375,169 291,132 701,904 581,278
Income from lease financing receivables and loans 261,721 69,996 334,599 140,373
Other income 15,563 6,987 23,949 13,961
Total revenues 652,453 368,115 1,060,452 735,612
Operating expenses        
General and administrative 11,782 7,628 21,248 15,713
Depreciation 30 31 60 63
Other expenses 15,563 6,987 23,949 13,961
Change in allowance for credit losses 551,876 (29,104) 632,696 (33,484)
Transaction and acquisition expenses 16,664 791 17,419 9,512
Total operating expenses 595,915 (13,667) 695,372 5,765
Income from unconsolidated affiliate 15,134 0 15,134 0
Interest expense (133,128) (79,806) (201,270) (156,854)
Interest income 553 22 643 38
(Loss) income before income taxes (60,903) 301,998 179,587 573,031
Income tax expense (245) (741) (83) (883)
Net (loss) income (61,148) 301,257 179,504 572,148
Less: Net loss (income) attributable to non-controlling interests (1,887) (2,368) (4,192) (4,666)
Net (loss) income attributable to common stockholders $ (63,035) $ 298,889 $ 175,312 $ 567,482
Net (loss) income per common share        
Basic (in dollars per share) $ (0.07) $ 0.56 $ 0.22 $ 1.06
Diluted (in dollars per share) $ (0.07) $ 0.54 $ 0.22 $ 1.03
Weighted average number of shares of common stock outstanding        
Basic (in shares) 905,013,754 536,692,167 795,286,993 536,586,921
Diluted (in shares) 905,013,754 554,438,981 797,482,166 549,620,976
Other comprehensive income        
Net (loss) income attributable to common stockholders $ (63,035) $ 298,889 $ 175,312 $ 567,482
Unrealized gain on cash flow hedges 91,939 9,328 200,550 21,706
Reclassification of realized loss on cash flow hedges to net income (4,159) 0 (4,159) 0
Comprehensive income attributable to common stockholders $ 24,745 $ 308,217 $ 371,703 $ 589,188