Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.20.1
Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
Credit Losses, Financial Assets and Other Instruments, Allowance for Credit Loss
The table below sets forth the activity for the allowance for credit losses (in thousands):
 
For the Three Months Ended March 31, 2020
 
Investing Receivables
 
Tenant Notes
Receivable (1)
 
Other Assets (2)
 
Off-Balance Sheet Credit Exposures (3)
 
Total
December 31, 2019
$
—

 
$
(97
)
 
$
—

 
$
—

 
$
(97
)
Cumulative effect of change for adoption of credit loss guidance
(3,732
)
 
(325
)
 
(144
)
 
(1,340
)
 
(5,541
)
Credit loss expense
134

 
23

 
(77
)
 
(769
)
 
(689
)
March 31, 2020
$
(3,598
)
 
$
(399
)
 
$
(221
)
 
$
(2,109
)
 
$
(6,327
)
(1)
Included in the line entitled “accounts receivable, net” on our consolidated balance sheets.
(2) The balance as of March 31, 2020 included $181,000 in the line entitled “accounts receivable, net” and $40,000 in the line entitled “prepaid expenses and other assets, net” on our consolidated balance sheets.
(3) Included in the line entitled “other liabilities” on our consolidated balance sheets.
Accounts Receivable, Noncurrent, Credit Quality Indicator
The following table presents the amortized cost basis of our investing receivables and tenants notes receivable by credit risk classification, by origination year as of March 31, 2020 (in thousands):
 
Origination Year
 
 
 
2015 and Earlier
 
2016
 
2017
 
2018
 
2019
 
2020
 
Total as of March 31, 2020
Investing receivables:
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit risk classification:
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment grade
$
59,833

 
$
—

 
$
866

 
$
—

 
$
—

 
$
—

 
$
60,699

Non-investment grade
3,020

 
—

 
—

 
—

 
11,076

 
—

 
14,096

Total
$
62,853

 
$
—

 
$
866

 
$
—

 
$
11,076

 
$
—

 
$
74,795

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Tenant notes receivable:
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit risk classification:
 
 
 
 
 
 
 
 
 
 
 
 
 
Investment grade
$
21

 
$
78

 
$
—

 
$
1,100

 
$
100

 
$
—

 
$
1,299

Non-investment grade
97

 
219

 
—

 
185

 
2,079

 
—

 
2,580

Total
$
118

 
$
297

 
$
—

 
$
1,285

 
$
2,179

 
$
—

 
$
3,879