Consolidated Balance Sheets - USD ($)
$ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
| Real estate investments: |
|
|
| Land and improvements |
$ 1,632,664
|
$ 1,598,355
|
| Buildings and improvements |
3,125,053
|
2,989,451
|
| Total real estate investments |
4,757,717
|
4,587,806
|
| Less: accumulated depreciation |
(621,456)
|
(503,568)
|
| Net Real Estate Investment |
4,136,261
|
4,084,238
|
| Loans receivable, net |
47,044
|
78,466
|
| Intangible lease assets, net |
294,463
|
306,252
|
| Real estate assets under direct financing leases, net |
20,289
|
24,865
|
| Real estate assets held for sale, net |
18,203
|
20,469
|
| Net investments |
4,516,260
|
4,514,290
|
| Cash and cash equivalents |
14,493
|
8,792
|
| Deferred costs and other assets, net |
156,428
|
121,949
|
| Investment in Master Trust 2014 |
33,535
|
0
|
| Preferred equity investment in SMTA |
150,000
|
0
|
| Goodwill |
225,600
|
225,600
|
| Assets related to SMTA Spin-Off |
0
|
2,392,880
|
| Total assets |
5,096,316
|
7,263,511
|
| Liabilities: |
|
|
| 2015 Credit Facility |
146,300
|
112,000
|
| 2015 Term Loan, net |
419,560
|
0
|
| Senior Unsecured Notes, net |
295,767
|
295,321
|
| Mortgages and notes payable, net |
463,196
|
589,644
|
| Convertible Notes, net |
729,814
|
715,881
|
| Total debt, net |
2,054,637
|
1,712,846
|
| Intangible lease liabilities, net |
120,162
|
130,574
|
| Accounts payable, accrued expenses and other liabilities |
119,768
|
131,642
|
| Liabilities related to SMTA Spin-Off |
0
|
1,968,840
|
| Total liabilities |
2,294,567
|
3,943,902
|
| Commitments and contingencies (see Note 6) |
|
|
| Stockholders’ equity: |
|
|
| Preferred stock and paid in capital, $0.01 par value, 20,000,000 shares authorized: 6,900,000 shares issued and outstanding at both December 31, 2018 and December 31, 2017, liquidation preference of $25.00 per share |
166,177
|
166,193
|
| Common stock, $0.05 par value, 750,000,000 shares authorized: 85,787,355 shares and 89,774,135 shares issued and outstanding at December 31, 2018 and December 31, 2017, respectively |
4,289
|
4,489
|
| Capital in excess of common stock par value |
4,995,697
|
5,193,631
|
| Accumulated deficit |
(2,357,255)
|
(2,044,704)
|
| Accumulated other comprehensive loss |
(7,159)
|
0
|
| Total stockholders’ equity |
2,801,749
|
3,319,609
|
| Partners' Capital |
|
|
| Total liabilities and stockholders' equity/partners' capital |
5,096,316
|
7,263,511
|
| Spirit Realty, L.P. |
|
|
| Real estate investments: |
|
|
| Land and improvements |
1,632,664
|
1,598,355
|
| Buildings and improvements |
3,125,053
|
2,989,451
|
| Total real estate investments |
4,757,717
|
4,587,806
|
| Less: accumulated depreciation |
(621,456)
|
(503,568)
|
| Net Real Estate Investment |
4,136,261
|
4,084,238
|
| Loans receivable, net |
47,044
|
78,466
|
| Intangible lease assets, net |
294,463
|
306,252
|
| Real estate assets under direct financing leases, net |
20,289
|
24,865
|
| Real estate assets held for sale, net |
18,203
|
20,469
|
| Net investments |
4,516,260
|
4,514,290
|
| Cash and cash equivalents |
14,493
|
8,792
|
| Deferred costs and other assets, net |
156,428
|
121,949
|
| Investment in Master Trust 2014 |
33,535
|
0
|
| Preferred equity investment in SMTA |
150,000
|
0
|
| Goodwill |
225,600
|
225,600
|
| Assets related to SMTA Spin-Off |
0
|
2,392,880
|
| Total assets |
5,096,316
|
7,263,511
|
| Liabilities: |
|
|
| 2015 Credit Facility |
146,300
|
112,000
|
| 2015 Term Loan, net |
419,560
|
0
|
| Senior Unsecured Notes, net |
295,767
|
295,321
|
| Mortgages and notes payable, net |
463,196
|
589,644
|
| Notes payable to Spirit Realty Capital, Inc., net |
729,814
|
715,881
|
| Total debt, net |
2,054,637
|
1,712,846
|
| Intangible lease liabilities, net |
120,162
|
130,574
|
| Accounts payable, accrued expenses and other liabilities |
119,768
|
131,642
|
| Liabilities related to SMTA Spin-Off |
0
|
1,968,840
|
| Total liabilities |
2,294,567
|
3,943,902
|
| Commitments and contingencies (see Note 6) |
|
|
| Partners' Capital |
|
|
| General partner's common capital, 797,644 units issued and outstanding as of both December 31, 2018 and December 31, 2017 |
23,061
|
24,426
|
| Limited partners' preferred capital: 6,900,000 units issued and outstanding as of December 31, 2018 and December 31, 2017, respectively |
166,177
|
166,193
|
| Limited partners' common capital, 84,989,711 and 88,976,491 units issued and outstanding as of December 31, 2018 and December 31, 2017, respectively |
2,612,511
|
3,128,990
|
| Total partners' capital |
2,801,749
|
3,319,609
|
| Total liabilities and stockholders' equity/partners' capital |
$ 5,096,316
|
$ 7,263,511
|