XML 55 R38.htm IDEA: XBRL DOCUMENT
v3.20.4

Acquisitions and Intangible Assets, Net (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Real Estate [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The allocation of purchase price to the aggregate assets acquired and liabilities assumed in connection with the five commercial real estate acquisitions in 2019 was as follows (in millions):
Fair value of assets acquired and liabilities assumed |  |
Assets acquired: |  |
Land |  | $ | 106.9 |
Property and improvements |  | 91.3 |
In-place leases |  | 23.2 |
Favorable leases |  | 4.3 |
Total assets acquired |  | $ | 225.7 |
Liabilities assumed: |  |
Unfavorable leases |  | $ | 7.3 |
Total liabilities assumed |  | $ | 7.3 |
Net assets acquired |  | $ | 218.4 |
The allocation of purchase price to assets acquired and liabilities assumed were as follows (in millions):
Fair value of assets acquired and liabilities assumed |  |
Assets acquired: |  |
Land |  | $ | 92.8 |
Property and improvements |  | 173.9 |
In-place leases |  | 32.0 |
Favorable leases |  | 6.7 |
Total assets acquired |  | $ | 305.4 |
Liabilities assumed: |  |
Unfavorable leases |  | $ | 2.7 |
Notes payable and other debt 1 |  | 61.0 |
Total liabilities assumed |  | $ | 63.7 |
Net assets acquired |  | $ | 241.7 |
1 Includes a fair value adjustment of $1.0 million.
Schedule of Intangible Assets | Real estate intangible assets, net and other intangible assets included in Prepaid expenses and other assets as of December 31, 2020 and 2019 were as follows (in millions):
| 2020 |  | 2019
In-place leases | $ | 125.0 |  |  | $ | 125.2 |
Favorable leases | 29.0 |  |  | 29.0 |
Accumulated amortization of in-place leases | (73.8) |  |  | (63.4) |
Accumulated amortization of favorable leases | (18.3) |  |  | (15.9) |
Real estate intangible assets, net | $ | 61.9 |  |  | $ | 74.9 |
Other intangible assets | $ | 20.4 |  |  | $ | 20.2 |
Accumulated amortization of other intangible assets | (10.2) |  |  | (7.9) |
Other intangible assets, net | $ | 10.2 |  |  | $ | 12.3 |
Schedule of Estimated Future Amortization Expenses | Estimated amortization expenses related to intangible assets over the next five years are as follows (in millions):
| Estimated Amortization
2021 | $ | 11.5 |
2022 | 9.1 |
2023 | 8.1 |
2024 | 5.8 |
2025 | 5.4 |

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

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration