Quarterly report [Sections 13 or 15(d)]

Credit Losses on Financial Assets and Other Instruments (Tables)

v3.25.3
Credit Losses on Financial Assets and Other Instruments (Tables)
 9 Months Ended
Sep. 30, 2025
Credit Loss [Abstract]  
Schedule of Allowance for Credit Loss
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.
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 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