XML 47 R33.htm IDEA: XBRL DOCUMENT v3.22.4
Summary of Significant Accounting Policies (Details)
12 Months Ended
Dec. 31, 2022
USD ($)
properties
segment
mortgagenotes
amendment
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Deferred financing costs, net $ 31,118,000 $ 36,864,000  
Accounting for Acquisitions [Abstract]      
Transaction costs 4,533,000 3,402,000 $ 5,436,000
Goodwill 693,000 693,000  
Intangible Assets, Net (Including Goodwill) 36,622,000 37,799,000  
Below Market Lease, Accumulated Amortization 2,400,000 2,000,000.0  
Amortization of above/below market leases and tenant allowances, net 355,000 385,000 480,000
Below Market Lease, Net 7,741,000 7,941,000  
Revenue Recognition [Abstract]      
Straight Line Rent 7,000,000 5,700,000  
Participating interest income $ 0 0 0
Income Tax Disclosure [Abstract]      
Percent of taxable income distributed to shareholders annually 90.00%    
Current Federal Tax Expense (Benefit) $ 0    
Deferred TRS Income Tax Expense (Benefit) $ 0 $ 0 $ 4,448,000
Effective Income Tax Rate Reconciliation, Percent 0.80% 2.10% 13.50%
Other $ 169,000 $ 0  
Deferred Tax Assets, Gross 36,892,000 35,917,000  
Deferred Tax Liabilities, Gross 4,099,000 4,582,000  
Deferred Tax Liabilities 9,800,000    
Current Income and Withholding Tax Expense (1,400,000) 1,600,000 $ 1,500,000
Provision for income tax expense 0    
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Severance expense 0 0 2,868,000
Straight line rent write off 200,000 200,000 38,000,000
Recovery of Direct Costs $ 17,200,000 15,200,000 12,900,000
Number of Reportable Segments | segment 2    
Rental Revenue Reduction from Straight Line Rent     24,500,000
Variable Percentage Rent $ 400,000 16,200,000 5,200,000
Financing Receivable, Accrued Interest, Writeoff 1,500,000   300,000
Deferred Tax Assets, Valuation Allowance $ 32,624,000 31,335,000  
Number of Theatres in Entertainment DIstricts | segment 7    
Collections, Deferred Rent, Cash Basis Tenants $ 17,100,000 7,000,000  
Collections, Deferred Rent, Accrual Basis Tenants 23,800,000 63,800,000  
Deferred Rent Receivables, Net $ 2,100,000 27,300,000  
Principles of Consolidation ariable Interest EntitiesThe Company consolidates certain entities when it is deemed to be the primary beneficiary in a variable interest entity (VIE) in which it has a controlling financial interest in accordance with the consolidation guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC). The equity method of accounting is applied to entities in which the Company is not the primary beneficiary as defined in the FASB ASC Topic on Consolidation (Topic 810), but can exercise significant influence over the entity with respect to its operations and major decisions.The Company’s variable interest in VIEs currently are in the form of equity ownership and loans provided by the Company to a VIE or other partner. The Company examines specific criteria and uses its judgment when determining if the Company is the primary beneficiary of a VIE. The primary beneficiary generally is defined as the party with the controlling financial interest. Consideration of various factors include, but are not limited to, the Company’s ability to direct the activities that most significantly impact the entity’s economic performance and its obligation to absorb losses from or right to receive benefits of the VIE that could potentially be significant to the VIE. As of December 31, 2022 and 2021, the Company does not have any investments in consolidated VIEs.    
Operating Lease, Percentage Revenue $ 10,500,000 14,000,000 8,600,000
Operating Lease, Lease Income $ 575,601,000 478,882,000 372,176,000
Number Of Mortgage Notes Receivable | mortgagenotes 4    
Collections, Deferred Interest, Cash Basis Borrowers $ 600,000    
Collections, Deferred Interest, Accrual Basis Borrowers $ 400,000    
Number of Properties subject to potential lease rejection | properties 3    
number of TRS entities | properties 3    
number of experiential lodging properties in TRS | properties 4    
Regal [Member]      
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Deferred Rent Receivables, Net $ 87,300,000    
Accounts Receivable, Noncurrent, Nonaccrual $ 6,500,000    
Short-term Debt      
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Number of agreements | amendment 4    
Notes Receivable      
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Financing Receivable, Accrued Interest, Writeoff     $ 0
Number Of Notes Receivable 2   1
Notes Receivable | Eat & Play Properties [Member]      
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Number Of Notes Receivable 1    
Pre-Petition | Regal [Member]      
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Accounts Receivable, Noncurrent, Nonaccrual $ 1,400,000    
Post-Petition | Regal [Member]      
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Accounts Receivable, Noncurrent, Nonaccrual $ 5,100,000    
Ground Lease Straight Line Receivable      
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Straight line rent write off   11,500,000 $ 11,500,000
straight-line receivable      
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Straight line rent write off   $ 26,500,000 $ 26,500,000
Mortgage Note, 8.125%, due June 17, 2039 [Member] | Mortgage Receivable [Member] | Eat & Play Properties [Member]      
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Number Of Mortgage Notes Receivable 1    
American Multi-Cinema, Inc. [Member]      
Concentration Risks, Types, No Concentration Percentage [Abstract]      
Percentage of lease revenue in total revenue 14.40% 17.80% 7.20%
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Operating Lease, Lease Income $ 94,476,000 $ 94,405,000 $ 29,964,000
TopGolf [Member]      
Concentration Risks, Types, No Concentration Percentage [Abstract]      
Percentage of lease revenue in total revenue 14.30% 16.30% 19.50%
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Operating Lease, Lease Income $ 94,177,000 $ 86,470,000 $ 80,714,000
Regal [Member]      
Concentration Risks, Types, No Concentration Percentage [Abstract]      
Percentage of lease revenue in total revenue 13.80% 8.40% 3.10%
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Operating Lease, Lease Income $ 90,678,000 $ 44,576,000 $ 13,056,000
Cinemark      
Concentration Risks, Types, No Concentration Percentage [Abstract]      
Percentage of lease revenue in total revenue 6.40% 8.00% 10.10%
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Operating Lease, Lease Income $ 42,325,000 $ 42,417,000 $ 42,065,000
Leases, Acquired-in-Place [Member]      
Accounting for Acquisitions [Abstract]      
Weighted average useful life for in-place leases 11 years 1 month 6 days    
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract]      
2022 $ 2,686,000    
2023 2,008,000    
2024 1,900,000    
2025 1,774,000    
2026 1,642,000    
Thereafter 7,759,000    
Total 17,769,000 18,401,000  
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Intangible assets, accumulated amortization 20,000,000.0 17,200,000  
Lease Agreements [Member]      
Accounting for Acquisitions [Abstract]      
Amortization $ 3,300,000 3,800,000 5,600,000
Above Market Leases [Member]      
Accounting for Acquisitions [Abstract]      
Weighted average useful life for in-place leases 5 years 6 months    
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract]      
2022 $ 46,000    
2023 46,000    
2024 46,000    
2025 46,000    
2026 46,000    
Thereafter 27,000    
Total 257,000 303,000  
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Intangible assets, accumulated amortization 1,300,000 1,200,000  
Trade Names [Member]      
Accounting for Acquisitions [Abstract]      
Non-amortizing indefinite lived trade names $ 5,400,000 5,400,000  
Weighted average useful life for in-place leases 25 years 3 months 18 days    
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract]      
2022 $ 133,000    
2023 133,000    
2024 133,000    
2025 133,000    
2026 133,000    
Thereafter 2,559,000    
Total 3,224,000    
Indefinite and Finite-lived Intangible Assets, net 8,580,000 8,713,000  
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Intangible assets, accumulated amortization $ 583,000,000 450,000,000  
Below market leases [Member]      
Accounting for Acquisitions [Abstract]      
Weighted average useful life for in-place leases 29 years    
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract]      
2022 $ 431,000    
2023 413,000    
2024 404,000    
2025 319,000    
2026 255,000    
Thereafter 5,919,000    
Total $ 7,741,000    
Contract Value, intangible [Member]      
Accounting for Acquisitions [Abstract]      
Weighted average useful life for in-place leases 25 years 6 months    
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract]      
2022 $ 365,000    
2023 365,000    
2024 365,000    
2025 365,000    
2026 365,000    
Thereafter 7,498,000    
Total 9,323,000 9,689,000  
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Intangible assets, accumulated amortization $ 1,600,000 1,300,000  
Stock Options [Member]      
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Share based compensation, future vesting period minimum (in years) 4 years    
Stock or Unit Option Plan Expense $ 14,000 17,000 12,000
Restricted Stock [Member] | Employee [Member]      
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Share based compensation expense related to employees and trustees $ 7,900,000 8,800,000 10,600,000
Restricted Stock [Member] | Minimum [Member] | Employee [Member]      
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Share based compensation, future vesting period minimum (in years) 3 years    
Restricted Stock [Member] | Maximum [Member] | Employee [Member]      
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Share based compensation, future vesting period minimum (in years) 4 years    
Restricted Stock Units (RSUs) [Member] | Non-Employee Trustees [Member]      
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Share based compensation expense related to employees and trustees $ 2,200,000 2,200,000 2,200,000
Performance Shares      
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Share based compensation, future vesting period minimum (in years) 3 years    
Share based compensation expense related to employees and trustees $ 6,600,000 3,900,000 1,000,000
Accelerated Vesting of Shares [Member] | Nonvested Shares [Member] | Employee Severance [Member]      
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Severance expense     1,000,000
Accelerated Vesting of Shares [Member] | Performance Shares | Employee Severance [Member]      
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Severance expense     261,000
Revolving Credit Facility [Member]      
Deferred financing costs, net $ 6,400,000 8,700,000  
Building [Member] | Minimum [Member]      
Rental Properties [Abstract]      
Estimated useful live of buildings (in years) 30 years    
Building [Member] | Maximum [Member]      
Rental Properties [Abstract]      
Estimated useful live of buildings (in years) 40 years    
Furniture and Fixtures [Member] | Minimum [Member]      
Rental Properties [Abstract]      
Estimated useful live of buildings (in years) 3 years    
Furniture and Fixtures [Member] | Maximum [Member]      
Rental Properties [Abstract]      
Estimated useful live of buildings (in years) 25 years    
Building Improvements [Member] | Minimum [Member]      
Rental Properties [Abstract]      
Estimated useful live of buildings (in years) 10 years    
Building Improvements [Member] | Maximum [Member]      
Rental Properties [Abstract]      
Estimated useful live of buildings (in years) 20 years    
triple-net lessor costs [Member]      
Share-based Payment Arrangement, Noncash Expense [Abstract]      
Recovery of Direct Costs $ 2,600,000 $ 3,500,000 $ 2,200,000
CANADA      
Income Tax Disclosure [Abstract]      
Other 23,000,000    
CANADA | Ontario ERC/Retail      
Income Tax Disclosure [Abstract]      
Other $ 22,800,000