Credit Losses, Financial Assets and Other Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Credit Losses, Financial Assets and Other Instruments, Allowance for Credit Loss

The table below sets forth the allowance for credit losses activity for the three months ended March 31, 2022 and 2021 (in thousands):


	Investing Receivables		Tenant Notes Receivable (1)		Other Assets (2)		Total
December 31, 2021	$	1,599	$	1,057	$	913	$	3,569

Credit loss (recoveries) expense	77		(34)		(359)		(316)



March 31, 2022	$	1,676	$	1,023	$	554	$	3,253

December 31, 2020	$	2,851	$	1,203	$	643	$	4,697
Credit loss recoveries	(771)		(7)		(129)		(907)
March 31, 2021	$	2,080	$	1,196	$	514	$	3,790

(1)Included in the line entitled “accounts receivable, net” on our consolidated balance sheets.

(2)The balance as of March 31, 2022 and December 31, 2021 included $154,000 and $218,000, respectively, in the line entitled “accounts receivable, net” and $400,000 and $695,000, respectively, in the line entitled “prepaid expenses and other assets, net” on our consolidated balance sheets. The balance as of March 31, 2021 and December 31, 2020 included $40,000 and $257,000, respectively, in the line entitled “accounts receivable, net” and $474,000 and $386,000, respectively, in the line entitled “prepaid expenses and other assets, net” on our consolidated balance sheets.

Financing Receivable Credit Quality Indicator

The following table presents the amortized cost basis of our investing receivables, tenant notes receivable and sales-type lease receivables by credit risk classification, by origination year as of March 31, 2022 (in thousands):


	Origination Year
	2017 and Earlier		2018		2019		2020		2021		Total
Investing receivables:
Credit risk classification:
Investment grade	$	71,682	$	—	$	—	$	1,715	$	5,656	$	79,053
Non-investment grade	—		—		5,040		—		—		5,040
Total	$	71,682	$	—	$	5,040	$	1,715	$	5,656	$	84,093

Tenant notes receivable:
Credit risk classification:
Investment grade	$	—	$	888	$	58	$	252	$	—	$	1,198
Non-investment grade	194		124		126		1,685		—		2,129
Total	$	194	$	1,012	$	184	$	1,937	$	—	$	3,327

Sales-type lease receivables:
Credit risk classification:
Investment grade	$	—	$	—	$	—	$	6,065	$	—	$	6,065