XML 34 R22.htm IDEA: XBRL DOCUMENT
v3.25.3

Credit Losses on Financial Assets and Other Instruments | 9 Months Ended
--- | ---
Sep. 30, 2025
Credit Loss [Abstract] |
Credit Losses on Financial Assets and Other Instruments | Credit Losses on Financial Assets and Other Instruments The table below sets forth the activity for our allowance for credit losses for the nine months ended September 30, 2025 and 2024 (in thousands):
| Investing Receivables |  | Tenant Notes Receivable (1) |  | Other Assets (2) |  |  |  |  |  | Total
December 31, 2024 | $ | 2,792 |  |  | $ | 615 |  |  | $ | 75 |  |  |  |  |  |  | $ | 3,482 |
Net credit loss expense (recoveries) (3) | 1,412 |  |  | (67) |  |  | 33 |  |  |  |  |  |  | 1,378 |
September 30, 2025 | $ | 4,204 |  |  | $ | 548 |  |  | $ | 108 |  |  |  |  |  |  | $ | 4,860 |
December 31, 2023 | $ | 2,377 |  |  | $ | 666 |  |  | $ | 153 |  |  |  |  |  |  | $ | 3,196 |
Net credit loss expense (recoveries) (3) | 490 |  |  | 57 |  |  | (51) |  |  |  |  |  |  | 496 |
September 30, 2024 | $ | 2,867 |  |  | $ | 723 |  |  | $ | 102 |  |  |  |  |  |  | $ | 3,692 |
(1)Included in the line entitled “accounts receivable, net” on our consolidated balance sheets. (2)The balance as of September 30, 2025 and December 31, 2024 included $13,000 and $60,000, respectively, in the line entitled “accounts receivable, net” and $95,000 and $15,000, respectively, in the line entitled “prepaid expenses and other assets, net” on our consolidated balance sheets. (3)Included in the line entitled “interest and other income, net” on our consolidated statements of operations. The following table presents the amortized cost basis of our investing receivables, tenant notes receivable and sales-type lease receivables by credit risk classification, by origination year as of September 30, 2025 (in thousands):
| Origination Year |  |
| 2020 and Earlier |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | Total
Investing receivables |  |  |  |  |  |  |  |  |  |  |  |  |
Credit risk classification |  |  |  |  |  |  |  |  |  |  |  |  |
Investment grade | $ | 60,295 |  |  | $ | 11,696 |  |  | $ | — |  |  | $ | 1,783 |  |  | $ | — |  |  | $ | — |  |  | $ | 73,774 |
Non-investment grade | — |  |  | — |  |  | 1,356 |  |  | — |  |  | — |  |  | 8,846 |  |  | 10,202 |
Total | $ | 60,295 |  |  | $ | 11,696 |  |  | $ | 1,356 |  |  | $ | 1,783 |  |  | $ | — |  |  | $ | 8,846 |  |  | $ | 83,976 |
Tenant notes receivable |  |  |  |  |  |  |  |  |  |  |  |  |
Credit risk classification |  |  |  |  |  |  |  |  |  |  |  |  |
Investment grade | $ | 456 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 456 |
Non-investment grade | 1,197 |  |  | — |  |  | — |  |  | — |  |  | 358 |  |  | 23 |  |  | 1,578 |
Total | $ | 1,653 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 358 |  |  | $ | 23 |  |  | $ | 2,034 |
Sales-type lease receivables |  |  |  |  |  |  |  |  |  |  |  |  |
Credit risk classification |  |  |  |  |  |  |  |  |  |  |  |  |
Investment grade | $ | 3,999 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3,999 |
Our investment grade credit risk classification represents entities with investment grade credit ratings from ratings agencies (such as S&P Global Ratings, Moody’s Investors Service, Inc. or Fitch Ratings, Inc.), meaning that they are considered to have at least an adequate capacity to meet their financial commitments, with credit risk ranging from minimal to moderate. Our non-investment grade credit risk classification represents entities with either no credit agency credit ratings or ratings deemed to be sub-investment grade; we believe that there is significantly more credit risk associated with this classification. The credit risk classifications of our investing receivables and tenant notes receivable were last updated in September 2025. An insignificant portion of the investing and tenant notes receivables set forth above were past due, which we define as being delinquent by more than three months from the due date, as of September 30, 2025. We did not have any tenant notes receivable on nonaccrual status as of September 30, 2025 and December 31, 2024. We did not recognize any interest income on tenant notes receivable on nonaccrual status during the three and nine months ended September 30, 2025 and 2024.

X
- References No definition available. + Details
Name: | us-gaap_CreditLossAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for credit loss on financial instrument measured at amortized cost basis, net investment in lease, off-balance sheet credit exposure, and available-for-sale debt security. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-42 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 44 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-44 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-21 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479106/326-30-50-4 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-11 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479106/326-30-50-7 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-8 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-20 + Details
Name: | us-gaap_CreditLossFinancialInstrumentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration