Consolidated Balance Sheets - USD ($)
$ in Thousands |
Jun. 30, 2018 |
Dec. 31, 2017 |
| Real estate investments: |
|
|
| Land and improvements |
$ 1,586,288
|
$ 1,598,355
|
| Buildings and improvements |
2,971,052
|
2,989,451
|
| Total real estate investments |
4,557,340
|
4,587,806
|
| Less: accumulated depreciation |
(560,600)
|
(503,568)
|
| Real estate investments, net |
3,996,740
|
4,084,238
|
| Loans receivable, net |
55,438
|
78,466
|
| Intangible lease assets, net |
287,607
|
306,252
|
| Real estate assets under direct financing leases, net |
24,828
|
24,865
|
| Real estate assets held for sale, net |
18,825
|
20,469
|
| Net investments |
4,383,438
|
4,514,290
|
| Cash and cash equivalents |
9,289
|
8,792
|
| Deferred costs and other assets, net |
107,273
|
121,949
|
| Investment in Master Trust 2014 |
33,581
|
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 |
4,909,181
|
7,263,511
|
| Liabilities: |
|
|
| Revolving Credit Facility |
346,500
|
112,000
|
| Term Loan, net |
0
|
0
|
| Senior Unsecured Notes, net |
295,542
|
295,321
|
| Mortgages and notes payable, net |
467,334
|
589,644
|
| Convertible Notes, net |
722,756
|
715,881
|
| Total debt, net |
1,832,132
|
1,712,846
|
| Intangible lease liabilities, net |
125,905
|
130,574
|
| Accounts payable, accrued expenses and other liabilities |
121,858
|
131,642
|
| Liabilities related to SMTA Spin-Off |
0
|
1,968,840
|
| Total liabilities |
2,079,895
|
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 June 30, 2018 and December 31, 2017 |
166,193
|
166,193
|
| Common stock, $0.01 par value, 750,000,000 shares authorized: 428,570,110 and 448,868,269 shares issued and outstanding at June 30, 2018 and December 31, 2017, respectively |
4,286
|
4,489
|
| Capital in excess of par value |
4,986,719
|
5,193,631
|
| Accumulated deficit |
(2,327,912)
|
(2,044,704)
|
| Total stockholders’ equity |
2,829,286
|
3,319,609
|
| Partnership units |
|
|
| Total liabilities and stockholders’ equity/partners' capital |
4,909,181
|
7,263,511
|
| Spirit Realty, L.P. |
|
|
| Real estate investments: |
|
|
| Land and improvements |
1,586,288
|
1,598,355
|
| Buildings and improvements |
2,971,052
|
2,989,451
|
| Total real estate investments |
4,557,340
|
4,587,806
|
| Less: accumulated depreciation |
(560,600)
|
(503,568)
|
| Real estate investments, net |
3,996,740
|
4,084,238
|
| Loans receivable, net |
55,438
|
78,466
|
| Intangible lease assets, net |
287,607
|
306,252
|
| Real estate assets under direct financing leases, net |
24,828
|
24,865
|
| Real estate assets held for sale, net |
18,825
|
20,469
|
| Net investments |
4,383,438
|
4,514,290
|
| Cash and cash equivalents |
9,289
|
8,792
|
| Deferred costs and other assets, net |
107,273
|
121,949
|
| Investment in Master Trust 2014 |
33,581
|
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 |
4,909,181
|
7,263,511
|
| Liabilities: |
|
|
| Revolving Credit Facility |
346,500
|
112,000
|
| Term Loan, net |
0
|
0
|
| Senior Unsecured Notes, net |
295,542
|
295,321
|
| Mortgages and notes payable, net |
467,334
|
589,644
|
| Notes payable to Spirit Realty Capital, Inc., net |
722,756
|
715,881
|
| Total debt, net |
1,832,132
|
1,712,846
|
| Intangible lease liabilities, net |
125,905
|
130,574
|
| Accounts payable, accrued expenses and other liabilities |
121,858
|
131,642
|
| Liabilities related to SMTA Spin-Off |
0
|
1,968,840
|
| Total liabilities |
2,079,895
|
3,943,902
|
| Commitments and contingencies (see Note 6) |
|
|
| Partnership units |
|
|
| General partner's capital: 3,988,218 units issued and outstanding as of both June 30, 2018 and December 31, 2017 |
23,384
|
24,426
|
| Limited partners' preferred capital: 6,900,000 issued and outstanding as of June 30, 2018 and December 31, 2017 |
166,193
|
166,193
|
| Limited partners' capital: 424,581,892 and 444,880,051 units issued and outstanding as of June, 2018 and December 31, 2017, respectively |
2,639,709
|
3,128,990
|
| Total partners' capital |
2,829,286
|
3,319,609
|
| Total liabilities and stockholders’ equity/partners' capital |
$ 4,909,181
|
$ 7,263,511
|