Segment Information

12 Months Ended

Dec. 31, 2019

We evaluate performance and make resource allocation decisions on an industry by industry basis. For financial reporting purposes, we have grouped our tenants into 50 activity segments. All of the properties are incorporated into one of the applicable segments. Unless otherwise specified, all segments listed below are located within the U.S. Because almost all of our leases require the tenant to pay or reimburse us for operating expenses, rental revenue is the only component of segment profit and loss we measure.

The following tables set forth certain information regarding the properties owned by us, classified according to the business of the respective tenants (dollars in thousands):



Assets, as of December 31:	2019		2018
Segment net real estate:
Automotive service	$	288,453	$	210,668
Automotive tire services	232,709		238,939
Beverages	279,373		284,910
Child care	208,326		151,640
Convenience stores	2,057,157		1,756,732
Dollar stores	1,427,950		1,117,250
Drug stores	1,618,854		1,490,261
Financial services	389,634		414,613
General merchandise	475,418		317,424
Grocery stores - U.S. ⁽¹⁾	922,349		774,526
Grocery stores - U.K. ⁽¹⁾	663,210		—
Health and fitness	1,019,796		882,515
Home improvement	495,305		424,494
Restaurants-casual dining	576,526		559,616
Restaurants-quick service	1,059,155		964,980
Theaters - U.S.	878,103		555,990
Transportation services	769,614		758,133
Wholesale club	396,690		412,203
Other non-reportable segments	2,738,150		2,528,623
Total segment net real estate	16,496,772		13,843,517
Intangible assets:
Automotive service	58,854		61,951
Automotive tire services	7,322		8,696
Beverages	1,509		1,765
Child care	21,997		12,277
Convenience stores	131,808		108,714
Dollar stores	82,701		48,842
Drug stores	183,319		165,558
Financial services	17,130		20,426
General merchandise	66,135		43,122
Grocery stores - U.S. ⁽¹⁾	180,197		144,551
Grocery stores - U.K. ⁽¹⁾	153,407		—
Health and fitness	74,428		71,609
Home improvement	72,979		57,928
Restaurants-casual dining	23,289		18,153
Restaurants-quick service	52,353		54,448
Theaters - U.S.	36,089		25,811
Transportation services	66,055		73,577
Wholesale club	23,372		26,484
Other non-reportable segments	240,439		255,685
Other corporate assets	564,641		217,369
Total assets	$	18,554,796	$	15,260,483



Revenue for the years ended December 31,	2019		2018		2017
Segment rental revenue:
Automotive service	$	32,365	$	28,303	$	25,291
Automotive tire services	31,292		30,078		29,560
Beverages	31,807		31,488		31,174
Child care	31,749		21,865		20,775
Convenience stores	166,755		142,194		111,023
Dollar stores	102,695		94,782		91,076
Drug stores	127,853		129,565		126,555
Financial services	30,189		29,429		28,744
General merchandise	35,366		29,249		23,752
Grocery stores - U.S. ⁽¹⁾	69,691		63,594		50,731
Grocery stores - U.K. ⁽¹⁾	17,819		—		—
Health and fitness	105,896		94,638		88,146
Home improvement	42,351		37,939		30,324
Restaurants-casual dining	45,238		46,171		43,876
Restaurants-quick service	92,018		72,465		59,638
Theaters - U.S.	87,698		70,560		58,443
Transportation services	66,500		63,565		62,337
Wholesale club	38,117		37,571		37,646
Other non-reportable segments and tenant reimbursements	329,419		298,090		293,215
Rental (including reimbursable)	1,484,818		1,321,546		1,212,306
Other	6,773		6,292		3,462
Total revenue	$	1,491,591	$	1,327,838	$	1,215,768

⁽¹⁾During 2019, we acquired 17 grocery stores and one theater located in the U.K. Our investments in industries outside of the U.S. are managed as separate operating segments. The U.K. theater is included in other non-reportable segments.