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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The following table presents a summary of selected financial data of the consolidated VIEs included in our consolidated balance sheets (in thousands):


	December 31,
	2020		2019
Land, buildings and improvements	$	423,333	$	493,714
Net investments in direct financing leases	15,242		15,584
In-place lease intangible assets and other	41,997		56,915
Above-market rent intangible assets	26,720		34,576
Accumulated depreciation and amortization	(137,827)		(151,017)
Assets held for sale, net	—		104,010
Total assets	381,953		596,168

Non-recourse mortgages, net	$	3,508	$	32,622
Total liabilities	48,971		98,671

Schedule of Restricted Cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets to the consolidated statements of cash flows (in thousands):


	December 31,
	2020		2019		2018
Cash and cash equivalents	$	248,662	$	196,028	$	217,644
Restricted cash (a)	63,117		55,490		206,419
Total cash and cash equivalents and restricted cash	$	311,779	$	251,518	$	424,063

__________

(a)Restricted cash is included within Other assets, net in our consolidated balance sheets. The amount as of December 31, 2018 includes $145.7 million of proceeds from the sale of a portfolio of Australian properties in December 2018. These funds were transferred from a restricted cash account to us in January 2019.

Schedule of Cash and Cash Equivalents


	December 31,
	2020		2019		2018
Cash and cash equivalents	$	248,662	$	196,028	$	217,644
Restricted cash (a)	63,117		55,490		206,419
Total cash and cash equivalents and restricted cash	$	311,779	$	251,518	$	424,063

__________

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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