Schedule of Segment Reporting Information, by Segment |
The following tables present financial information by segment for the three months ended March 31, 2020 and 2019. Three Months Ended March 31, 2020 | | | | | | | | | | | | | | | | | | (In thousands) | | Real Estate Operations | | Restaurant Operations | | Intercompany | | Total | Revenues: | | | | | | | | | Rental revenue | | $ | 37,725 |
| | $ | — |
| | $ | — |
| | $ | 37,725 |
| Intercompany rental revenue | | 136 |
| | — |
| | (136 | ) | | — |
| Restaurant revenue | | — |
| | 4,704 |
| | — |
| | 4,704 |
| Total revenues | | 37,861 |
| | 4,704 |
| | (136 | ) | | 42,429 |
| Operating expenses: | | | | | | | | | General and administrative | | 3,842 |
| | — |
| | — |
| | 3,842 |
| Depreciation and amortization | | 6,923 |
| | 131 |
| | — |
| | 7,054 |
| Property expenses | | 635 |
| | — |
| | — |
| | 635 |
| Restaurant expenses | | — |
| | 4,638 |
| | (136 | ) | | 4,502 |
| Total operating expenses | | 11,400 |
| | 4,769 |
| | (136 | ) | | 16,033 |
| Interest expense | | (7,003 | ) | | — |
| | — |
| | (7,003 | ) | Other income | | 4 |
| | — |
| | — |
| | 4 |
| Income tax expense | | (37 | ) | | (24 | ) | | — |
| | (61 | ) | Net Income (Loss) | | $ | 19,425 |
| | $ | (89 | ) | | $ | — |
| | $ | 19,336 |
|
Three Months Ended March 31, 2019 | | | | | | | | | | | | | | | | | | (In thousands) | | Real Estate Operations | | Restaurant Operations | | Intercompany | | Total | Revenues: | | | | | | | | | Rental revenue | | $ | 34,208 |
| | $ | — |
| | $ | — |
| | $ | 34,208 |
| Intercompany rental revenue | | 102 |
| | — |
| | (102 | ) | | — |
| Restaurant revenue | | — |
| | 5,393 |
| | — |
| | 5,393 |
| Total revenues | | 34,310 |
| | 5,393 |
| | (102 | ) | | 39,601 |
| Operating expenses: | | | | | | | | | General and administrative | | 3,946 |
| | — |
| | — |
| | 3,946 |
| Depreciation and amortization | | 6,224 |
| | 137 |
| | — |
| | 6,361 |
| Property expenses | | 308 |
| | — |
| | — |
| | 308 |
| Restaurant expenses | | — |
| | 5,085 |
| | (102 | ) | | 4,983 |
| Total operating expenses | | 10,478 |
| | 5,222 |
| | (102 | ) | | 15,598 |
| Interest expense | | (6,747 | ) | | — |
| | — |
| | (6,747 | ) | Other income | | 413 |
| | — |
| | — |
| | 413 |
| Income tax expense | | (34 | ) | | (34 | ) | | — |
| | (68 | ) | Net Income | | $ | 17,464 |
| | $ | 137 |
| | $ | — |
| | $ | 17,601 |
|
The following tables present supplemental information by segment at March 31, 2020 and December 31, 2019. Supplemental Segment Information at March 31, 2020 | | | | | | | | | | | | | | (In thousands) | | Real Estate Operations | | Restaurant Operations | | Total | Total real estate investments | | $ | 1,983,332 |
| | $ | 16,936 |
| | $ | 2,000,268 |
| Accumulated depreciation | | (635,886 | ) | | (5,511 | ) | | (641,397 | ) | Total real estate investments, net | | 1,347,446 |
| | 11,425 |
| | 1,358,871 |
| Cash and cash equivalents | | 89,845 |
| | 646 |
| | 90,491 |
| Total assets | | 1,546,881 |
| | 16,346 |
| | 1,563,227 |
| Long-term debt, net of deferred financing costs | | 796,452 |
| | — |
| | 796,452 |
|
Supplemental Segment Information at December 31, 2019 | | | | | | | | | | | | | | (In thousands) | | Real Estate Operations | | Restaurant Operations | | Total | Total real estate investments | | $ | 1,952,855 |
| | $ | 14,879 |
| | $ | 1,967,734 |
| Accumulated depreciation | | (630,250 | ) | | (5,380 | ) | | (635,630 | ) | Total real estate investments, net | | 1,322,605 |
| | 9,499 |
| | 1,332,104 |
| Cash and cash equivalents | | 4,032 |
| | 1,051 |
| | 5,083 |
| Total assets | | 1,431,003 |
| | 15,067 |
| | 1,446,070 |
| Long-term debt, net of deferred financing costs | | 669,940 |
| | — |
| | 669,940 |
|
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