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Segment Information
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Segment Information Segment InformationWe evaluate performance and make resource allocation decisions on an industry by industry basis. For financial reporting purposes, we have grouped our clients into 60 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 our clients to pay or reimburse us for operating expenses, rental revenue is the only component of segment profit and loss we measure. Our investments in industries outside of the U.S. are managed as separate operating segments.
The following tables set forth certain information regarding the properties owned by us, classified according to the business of the respective clients (dollars in thousands):
Assets, as of:
September 30, 2021December 31, 2020
Segment net real estate:
Automotive service
$434,668 $328,340 
Beverages
361,274 347,366 
Child care
221,946 216,718 
Convenience stores
2,319,783 2,101,005 
Dollar stores
1,550,889 1,420,210 
Drug stores
1,502,930 1,555,106 
Financial services
361,002 374,508 
General merchandise
887,969 730,806 
Grocery stores - U.S. (1)
899,193 907,634 
Grocery stores - U.K. (1)
1,608,133 1,131,760 
Health and fitness
1,004,119 1,050,791 
Home improvement - U.S. 669,911 608,222 
Home improvement - U.K.593,360 187,289 
Restaurants-casual dining
486,625 515,226 
Restaurants-quick service - U.S.1,160,271 1,062,918 
Theaters - U.S.745,180 767,117 
Transportation services
782,170 729,640 
Wholesale club
455,390 407,584 
Other non-reportable segments
3,777,716 3,042,916 
Total net real estate
19,822,529 17,485,156 
Intangible assets:
Automotive service55,313 55,018 
Beverages16,791 9,401 
Child care19,419 19,848 
Convenience stores152,875 121,151 
Dollar stores116,556 77,176 
Drug stores157,073 167,975 
Financial services12,611 14,611 
General merchandise136,367 108,646 
Grocery stores - U.S. (1)
177,635 181,764 
Grocery stores - U.K. (1)
374,515 282,211 
Health and fitness61,172 67,537 
Home improvement - U.S.99,152 97,228 
Home improvement - U.K.132,761 57,369 
Restaurants-casual dining18,194 20,553 
Restaurants-quick service - U.S.44,037 47,517 
Theaters - U.S.25,925 28,292 
Transportation services56,521 53,902 
Wholesale club61,943 36,165 
Other non-reportable segments437,332 264,291 
Other corporate assets1,732,373 1,544,474 
Total assets
$23,711,094 $20,740,285 
(1) During the three months ended September 30, 2021, we invested in seven properties in Spain. As of September 30, 2021, grocery stores - Spain was not a reportable segment.
Three months ended September 30,Nine months ended September 30,
Revenue2021202020212020
Segment rental revenue:
Automotive service$10,992 $8,763 $31,144 $26,094 
Beverages9,453 8,071 27,784 24,062 
Child care8,872 8,710 26,186 26,959 
Convenience stores53,649 47,807 154,865 141,310 
Dollar stores35,085 31,710 100,439 94,696 
Drug stores34,790 35,043 106,194 105,959 
Financial services7,588 7,583 22,905 22,700 
General merchandise17,539 12,937 49,625 36,341 
Grocery stores - U.S. (1)
20,018 19,451 59,279 58,444 
Grocery stores - U.K. (1)
26,764 12,858 71,404 35,001 
Health and fitness27,741 25,905 83,459 82,145 
Home improvement - U.S.14,776 11,373 41,358 34,065 
Home improvement - U.K.10,294 448 21,442 448 
Restaurants-casual dining12,706 11,731 36,432 35,699 
Restaurants-quick service - U.S.26,362 23,047 74,033 65,224 
Theaters - U.S.25,771 12,781 64,966 61,795 
Transportation services17,281 15,981 50,540 47,941 
Wholesale club10,683 9,611 30,773 28,788 
Other non-reportable segments and contractually obligated reimbursements by our clients
115,973 98,059 333,130 296,556 
Rental (including reimbursable)486,337 401,869 1,385,958 1,224,227 
Other5,538 2,703 13,003 9,322 
Total revenue$491,875 $404,572 $1,398,961 $1,233,549 
(1) During the three months ended September 30, 2021, we invested in seven properties in Spain. As of September 30, 2021, grocery stores - Spain was not a reportable segment.