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VICI PROPERTIES L.P. CONSOLIDATED STATEMENTS OF PARTNERS' CAPITAL (UNAUDITED) - USD ($) $ in Thousands | Total | VICI Properties LP | VICI Properties LP Partners’ Capital | VICI Properties LP Accumulated Other Comprehensive Income | VICI Properties LP Non-controlling Interests
--- | --- | --- | --- | --- | ---
Beginning balance at Dec. 31, 2023 |  | $ 25,547,629 | $ 25,288,647 | $ 153,350 | $ 105,632
Increase (Decrease) in Partners' Capital [Roll Forward] |  |  |  |  |
Net income |  | 597,040 | 594,142 |  | 2,898
Distributions to Parent |  | (440,283) | (440,283) |  |
Distributions to non-controlling interests |  | (2,630) |  |  | (2,630)
Stock-based compensation, net of forfeitures | $ (1,204) | (1,204) | (1,204) |  |
Reclassification of derivative gain to Interest expense | (6,046) | (6,046) |  | (6,046) |
Unrealized gain (loss) on cash flow hedges | 12,482 | 12,482 |  | 12,482 |
Foreign currency translation adjustments | (3,644) | (3,644) |  | (3,644) |
Ending balance at Mar. 31, 2024 |  | 25,703,344 | 25,441,302 | 156,142 | 105,900
Beginning balance at Dec. 31, 2023 |  | 25,547,629 | 25,288,647 | 153,350 | 105,632
Increase (Decrease) in Partners' Capital [Roll Forward] |  |  |  |  |
Reclassification of derivative gain to Interest expense | (18,530) |  |  |  |
Foreign currency translation adjustments | (3,559) |  |  |  |
Ending balance at Sep. 30, 2024 |  | 26,455,447 | 26,208,082 | 141,029 | 106,336
Beginning balance at Mar. 31, 2024 |  | 25,703,344 | 25,441,302 | 156,142 | 105,900
Increase (Decrease) in Partners' Capital [Roll Forward] |  |  |  |  |
Net income |  | 748,982 | 746,179 |  | 2,803
Contributions from Parent |  | 147 | 147 |  |
Distributions to Parent |  | (438,049) | (438,049) |  |
Distributions to non-controlling interests |  | (2,693) |  |  | (2,693)
Stock-based compensation, net of forfeitures | 4,243 | 4,243 | 4,243 |  |
Reclassification of derivative gain to Interest expense | (6,384) | (6,384) |  | (6,384) |
Foreign currency translation adjustments | (2,173) | (2,173) |  | (2,173) |
Ending balance at Jun. 30, 2024 |  | 26,007,417 | 25,753,822 | 147,585 | 106,010
Increase (Decrease) in Partners' Capital [Roll Forward] |  |  |  |  |
Net income |  | 744,540 | 741,519 |  | 3,021
Contributions from Parent |  | 166,405 | 166,405 |  |
Distributions to Parent |  | (458,256) | (458,256) |  |
Distributions to non-controlling interests |  | (2,695) |  |  | (2,695)
Stock-based compensation, net of forfeitures | 4,592 | 4,592 | 4,592 |  |
Reclassification of derivative gain to Interest expense | (6,100) | (6,100) |  | (6,100) |
Unrealized gain (loss) on cash flow hedges | (2,714) | (2,714) |  | (2,714) |
Foreign currency translation adjustments | 2,258 | 2,258 |  | 2,258 |
Ending balance at Sep. 30, 2024 |  | 26,455,447 | 26,208,082 | 141,029 | 106,336
Beginning balance at Dec. 31, 2024 |  | 26,884,888 | 26,634,873 | 143,899 | 106,116
Increase (Decrease) in Partners' Capital [Roll Forward] |  |  |  |  |
Net income |  | 550,217 | 547,827 |  | 2,390
Contributions from Parent |  | 245 | 245 |  |
Distributions to Parent |  | (462,174) | (462,174) |  |
Distributions to non-controlling interests |  | (2,697) |  |  | (2,697)
Stock-based compensation, net of forfeitures | (4,273) | (4,273) | (4,273) |  |
Reclassification of derivative gain to Interest expense | (6,345) | (6,345) |  | (6,345) |
Unrealized gain (loss) on cash flow hedges | (5,949) | (5,949) |  | (5,949) |
Foreign currency translation adjustments | 35 | 35 |  | 35 |
Ending balance at Mar. 31, 2025 |  | 26,953,947 | 26,716,498 | 131,640 | 105,809
Beginning balance at Dec. 31, 2024 |  | 26,884,888 | 26,634,873 | 143,899 | 106,116
Increase (Decrease) in Partners' Capital [Roll Forward] |  |  |  |  |
Reclassification of derivative gain to Interest expense | (19,120) |  |  |  |
Foreign currency translation adjustments | 5,474 |  |  |  |
Ending balance at Sep. 30, 2025 |  | 28,024,963 | 27,794,086 | 124,304 | 106,573
Beginning balance at Mar. 31, 2025 |  | 26,953,947 | 26,716,498 | 131,640 | 105,809
Increase (Decrease) in Partners' Capital [Roll Forward] |  |  |  |  |
Net income |  | 875,259 | 871,916 |  | 3,343
Contributions from Parent |  | 128 | 128 |  |
Distributions to Parent |  | (462,365) | (462,365) |  |
Distributions to non-controlling interests |  | (2,704) |  |  | (2,704)
Stock-based compensation, net of forfeitures | 4,395 | 4,395 | 4,395 |  |
Reclassification of derivative gain to Interest expense | (6,386) | (6,386) |  | (6,386) |
Foreign currency translation adjustments | 10,091 | 10,091 |  | 10,091 |
Ending balance at Jun. 30, 2025 |  | 27,372,365 | 27,130,572 | 135,345 | 106,448
Increase (Decrease) in Partners' Capital [Roll Forward] |  |  |  |  |
Net income |  | 773,106 | 770,281 |  | 2,825
Contributions from Parent |  | 375,727 | 375,727 |  |
Distributions to Parent |  | (486,900) | (486,900) |  |
Distributions to non-controlling interests |  | (2,700) |  |  | (2,700)
Stock-based compensation, net of forfeitures | 4,406 | 4,406 | 4,406 |  |
Reclassification of derivative gain to Interest expense | (6,389) | (6,389) |  | (6,389) |
Foreign currency translation adjustments | $ (4,652) | (4,652) |  | (4,652) |
Ending balance at Sep. 30, 2025 |  | $ 28,024,963 | $ 27,794,086 | $ 124,304 | $ 106,573

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