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Segment Information

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment Information

Segment Information

Our real property business and our golf course business represent two reportable segments. The real property business segment consists of leased real property and our real estate lending activities and represents the substantial majority of our business. The golf course business segment, which is wholly owned by VICI, consists of four golf courses, with each being operating segments that are aggregated into one reportable segment.

The results of each reportable segment presented below are consistent with the way our management assesses these results and allocates resources. The following table presents certain information with respect to our segments:

						Three Months Ended June 30, 2022																		Three Months Ended June 30, 2021
(In thousands)						Real Property Business						Golf Course Business						VICI Consolidated						Real Property Business						Golf Course Business						VICI Consolidated
Revenues						$	652,453					$	10,170					$	662,623					$	368,115					$	8,285					$	376,400
Interest expense						(133,128)						—						(133,128)						(79,806)						—						(79,806)
Income from unconsolidated affiliate						15,134						—						15,134						—						—						—
(Loss) income before income taxes						(60,702)						3,588						(57,114)						302,005						2,328						304,333
Income tax expense						(245)						(782)						(1,027)						(741)						(515)						(1,256)
Net (loss) income						(60,947)						2,806						(58,141)						301,264						1,813						303,077
Depreciation						30						749						779						31						726						757
Total assets						37,186,796						102,421						37,289,217						17,126,115						93,433						17,219,548
Total liabilities						15,155,509						18,821						15,174,330						7,467,470						17,009						7,484,479
						Six Months Ended June 30, 2022																		Six Months Ended June 30, 2021
(In thousands)						Real Property Business						Golf Course Business						VICI Consolidated						Real Property Business						Golf Course Business						VICI Consolidated
Revenues						$	1,060,452					$	18,796					$	1,079,248					$	735,612					$	15,098					$	750,710
Interest expense						(201,270)						—						(201,270)						(156,854)						—						(156,854)
Income from unconsolidated affiliate						15,134						—						15,134						—						—						—
Income before income taxes						179,791						6,183						185,974						573,040						3,876						576,916
Income tax expense						(83)						(1,344)						(1,427)						(883)						(857)						(1,740)
Net income						179,708						4,839						184,547						572,157						3,019						575,176
Depreciation						60						1,495						1,555						63						1,486						1,549
Total assets						37,186,796						102,421						37,289,217						17,126,115						93,433						17,219,548
Total liabilities						15,155,509						18,821						15,174,330						7,467,470						17,009						7,484,479

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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