Credit Losses on Financial Assets and Other Instruments (Tables)

9 Months Ended

Sep. 30, 2023

The table below sets forth the activity for our allowance for credit losses for the nine months ended September 30, 2023 and 2022 (in thousands):


	Investing Receivables		Tenant Notes Receivable (1)		Other Assets (2)		Total
December 31, 2022	$	2,794	$	778	$	268	$	3,840

Credit loss expense (recoveries) (3)	829		(64)		(88)		677

Write-offs	—		(33)		—		(33)

September 30, 2023	$	3,623	$	681	$	180	$	4,484

December 31, 2021	$	1,599	$	1,057	$	913	$	3,569
Credit loss expense (recoveries) (3)	2,129		(112)		(415)		1,602
September 30, 2022	$	3,728	$	945	$	498	$	5,171

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

(2)The balance as of September 30, 2023 and December 31, 2022 included $109,000 and $52,000 in the line entitled “accounts receivable, net” and $71,000 and $216,000 in the line entitled “prepaid expenses and other assets, net”, respectively, on our consolidated balance sheets.

(3)Included in the line entitled “interest and other income, net” on our consolidated statements of operations.

Schedule of credit risk classification

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 September 30, 2023 (in thousands):


	Origination Year
	2018 and Earlier		2019		2020		2021		2022		2023		Total
Investing receivables:
Credit risk classification:
Investment grade	$	64,171	$	—	$	2,028	$	8,141	$	—	$	7	$	74,347
Non-investment grade	—		—		—		—		16,811		—		16,811
Total	$	64,171	$	—	$	2,028	$	8,141	$	16,811	$	7	$	91,158


Tenant notes receivable:
Credit risk classification:
Investment grade	$	717	$	21	$	136	$	—	$	—	$	—	$	874
Non-investment grade	144		57		1,466		—		—		—		1,667
Total	$	861	$	78	$	1,602	$	—	$	—	$	—	$	2,541
Gross write-offs during the nine months ended September 30, 2023	$	33	$	—	$	—	$	—	$	—	$	—	$	33

Sales-type lease receivables:
Credit risk classification:
Investment grade	$	—	$	—	$	5,244	$	—	$	—	$	—	$	5,244