Annual report pursuant to Section 13 and 15(d)

Credit Losses on Financial Assets and Other Instruments (Tables)

v3.25.0.1
Credit Losses on Financial Assets and Other Instruments (Tables)
 12 Months Ended
Dec. 31, 2024
Credit Loss [Abstract]  
Schedule of Credit Losses, Financial Assets and Other Instruments, Allowance for Credit Loss
The table below sets forth the activity for our allowance for credit losses in 2022, 2023 and 2024 (in thousands):
Investing Receivables Tenant Notes
Receivable (1)		 Other Assets (2) Total
December 31, 2021 $ 1,599  $ 1,057  $ 913  $ 3,569 
Net credit loss expense (recoveries) (3) 1,195  (279) (645) 271 
December 31, 2022 2,794  778  268  3,840 
Credit loss recoveries (3) (417) (79) (115) (611)
Write-offs —  (33) —  (33)
December 31, 2023 2,377  666  153  3,196 
Net credit loss expense (recoveries) (3) 415  46  (78) 383 
Write-offs —  (97) —  (97)
December 31, 2024 $ 2,792  $ 615  $ 75  $ 3,482 
(1)Included in the line entitled “accounts receivable, net” on our consolidated balance sheets.
(2)The balance as of December 31, 2024 and 2023 included $60,000 and $87,000, respectively, in the line entitled “accounts receivable, net” and $15,000 and $66,000, 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.
Schedule of Credit Risk Classification
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 December 31, 2024 (in thousands):
Origination Year
2019 and Earlier
 2020 2021 2022 2023 2024 Total
Investing receivables:
Credit risk classification:
Investment grade $ 54,997  $ 2,719  $ 10,878  $ —  $ 647  $ —  $ 69,241 
Non-investment grade —  —  —  3,231  —  —  3,231 
Total $ 54,997  $ 2,719  $ 10,878  $ 3,231  $ 647  $ —  $ 72,472 
Tenant notes receivable:
Credit risk classification:
Investment grade $ 573  $ 30  $ —  $ —  $ —  $ —  $ 603 
Non-investment grade 4  1,316  —  —  —  425  1,745 
Total $ 577  $ 1,346  $ —  $ —  $ —  $ 425  $ 2,348 
Gross write-offs during the year ended December 31, 2024
 $ 97  $ —  $ —  $ —  $ —  $ —  $ 97 
Sales-type lease receivable:
Credit risk classification:
Investment grade $ —  $ 4,487  $ —  $ —  $ —  $ —  $ 4,487