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Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Schedule of Company's Lease Income

The following table summarizes the Company’s lease income (dollars in thousands):

	Three Months Ended June 30,								Six Months Ended June 30,
	2020				2019				2020				2019
Fixed income from operating leases	$	253,911			$	237,607			$	507,770			$	474,830
Variable income from operating leases	58,452				63,590				119,281				120,589
Interest income from direct financing leases	2,150				10,190				5,419				23,714

Schedule of Components of Net Investment in DFLs

Net investment in DFLs consists of the following (dollars in thousands):

	June 30, 2020				December 31, 2019
Present value of minimum lease payments receivable	$	14,105			$	19,138
Present value of estimated residual value	44,706				84,604
Less deferred selling profits	(14,105		)		(19,138		)
Net investment in direct financing leases	$	44,706			$	84,604
Properties subject to direct financing leases	1				2

Summary of the Company's Internal Ratings for DFLs

The following table summarizes the Company’s internal ratings for DFLs at June 30, 2020 (dollars in thousands):

		Carrying Amount				Percentage of DFL Portfolio		Internal Ratings
Segment								Performing DFLs				Watch List DFLs				Workout DFLs
Other non-reportable segments		$	44,706			100		$	44,706			—				—
		$	44,706			100		$	44,706			$	—			$	—

The following table summarizes, by year of origination, the Company’s internal ratings for loans receivables, net of reserves for loan losses, as of June 30, 2020 (dollars in thousands):

Investment Type		Year of Origination																				Total
		2020				2019				2018				2017				2016
Secured mortgage loans
Risk rating:
Performing loans		$	36,037			$	53,826			$	—			$	112,248			$	—			$	202,111
Watch list loans		—				—				—				—				—				—
Workout loans		—				—				—				—				—				—
Total secured mortgage loans		$	36,037			$	53,826			$	—			$	112,248			$	—			$	202,111
Mezzanine and other
Risk rating:
Performing loans		$	17,860			$	19,684			$	—			$	7,898			$	6,221			$	51,663
Watch list loans		—				—				—				—				—				—
Workout loans		—				—				—				—				—				—
Total mezzanine and other		$	17,860			$	19,684			$	—			$	7,898			$	6,221			$	51,663

Schedule of Other Lease Information

The following table provides supplemental cash flow information regarding the Company’s leases for which it is the lessee, such as ground leases (dollars in thousands):

		Six Months Ended June 30,
Supplemental Cash Flow Information:		2020				2019
Right-of-use asset obtained in exchange for new lease liability:
Operating leases		$	23,962			$	4,084

X

- Definition

Tabular disclosure of the components of the net amount due as of the balance sheet date consisting of: (a) minimum lease payments due on direct financing and sales-type leases, (b) unguaranteed residual value, and (c) any unamortized initial direct costs on direct financing leases; less: (i) executory costs, (ii) unearned income, and (iii) the accumulated allowance for uncollectible minimum lease payments.

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Tabular disclosure of components of lease income from direct financing lease.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 50
-Paragraph 6A
-URI http://asc.fasb.org/extlink&oid=121640914&loc=SL77927221-108306

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 30
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121576215&loc=SL77919372-209981

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 29
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Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980

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