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Credit Loss Reserve (Tables)

9 Months Ended

Sep. 30, 2024

Credit Loss Reserve

Summary of financial instruments within the scope of ASC 326

The following table summarizes our financial instruments within the scope of ASC 326 by year of origination (dollar amounts in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Year of origination (1)

​

At September 30, 2024

Investment Type:

​

2024

​

2023

​

2022

​

2021

​

2020

​

Prior

​

Total

​

Credit loss reserve

Financing receivables

​

$

163,460

​

$

121,418

​

$

76,626

​

$

—

​

$

—

​

$

—

​

$

361,504

​

$

3,615

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Mortgage loans receivable

​

$

—

​

$

92,360

​

$

—

​

$

16,706

​

$

—

​

$

255,348

​

$

364,414

​

$

3,638

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Mezzanine loans

​

$

—

​

$

17,000

​

$

25,000

​

$

—

​

$

—

​

$

—

​

$

42,000

​

$

420

Working Capital loans

​

​

50

​

​

—

​

​

—

​

​

2,045

​

​

1,095

​

​

2,983

​

​

6,173

​

​

62

Total Notes Receivable

​

$

50

​

$

17,000

​

$

25,000

​

$

2,045

​

$

1,095

​

$

2,983

​

$

48,173

​

$

482

(1) Excludes paid-off loans. Additional funding, if any, is included in the year of the origination of the initial loan.

Summary of expected credit losses

The expected credit losses related to our financial instruments that are within the scope of ASC 326 are as follows (in thousands):

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Balance

​

​

Recovery

​

due to

​

Balance

​

​

​

at

​

​

due to

​

Originations/

​

at

​

Description

​

12/31/2023

​

​

payoffs

​

additional funding

​

9/30/2024

​

Credit Loss Reserve- Financing Receivables

​

$

1,980

​

$

—

​

$

1,635

​

$

3,615

​

Credit Loss Reserve- Mortgage Loans Receivable

​

​

4,814

​

​

(1,369)

​

​

193

​

​

3,638

​

Credit Loss Reserve-Notes Receivable

​

​

611

​

​

(132)

​

​

3

​

​

482

​

X

- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481962/310-10-50-11B

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-13

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X

- References

No definition available.

+ Details

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X

- 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://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 29
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481962/310-10-50-29

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-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

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