Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Real estate investments:    
Land and improvements $ 1,598,355 $ 1,725,454
Buildings and improvements 2,989,451 3,145,666
Total real estate investments 4,587,806 4,871,120
Less: accumulated depreciation (503,568) (431,958)
Net Real Estate Investment 4,084,238 4,439,162
Loans receivable, net 78,466 60,880
Intangible lease assets, net 306,252 355,718
Real estate assets under direct financing leases, net 24,865 36,005
Real estate assets held for sale, net 20,469 100,861
Net investments 4,514,290 4,992,626
Cash and cash equivalents 8,792 5,914
Deferred costs and other assets, net 121,949 86,181
Goodwill 225,600 225,600
Assets related to SMTA Spin-Off 2,392,880 2,367,650
Total assets 7,263,511 7,677,971
Liabilities:    
Revolving Credit Facility 112,000 86,000
Term Loan, net 0 418,471
Senior Unsecured Notes, net 295,321 295,112
Mortgages and notes payable, net 589,644 822,789
Convertible Notes, net 715,881 702,642
Total debt, net 1,712,846 2,325,014
Intangible lease liabilities, net 130,574 152,088
Accounts payable, accrued expenses and other liabilities 131,642 136,676
Liabilities related to SMTA Spin-Off 1,968,840 1,382,085
Total liabilities 3,943,902 3,995,863
Commitments and contingencies
Stockholders’ equity:    
Preferred stock and paid in capital, $0.01 par value, 20,000,000 shares authorized: 6,900,000 shares and no shares issued and outstanding at December 31, 2017 and December 31, 2016, respectively, liquidation preference of $25.00 per share 166,193 0
Common stock, $0.01 par value, 750,000,000 shares authorized: 448,868,269 shares and 483,624,120 shares issued and outstanding at December 31, 2017 and December 31, 2016, respectively 4,489 4,836
Capital in excess of common stock par value 5,193,631 5,177,086
Accumulated deficit (2,044,704) (1,499,814)
Total stockholders’ equity 3,319,609 3,682,108
Partners' Capital    
Total liabilities and stockholders' equity/partners' capital 7,263,511 7,677,971
Spirit Realty, L.P.    
Real estate investments:    
Land and improvements 1,598,355 1,725,454
Buildings and improvements 2,989,451 3,145,666
Total real estate investments 4,587,806 4,871,120
Less: accumulated depreciation (503,568) (431,958)
Net Real Estate Investment 4,084,238 4,439,162
Loans receivable, net 78,466 60,880
Intangible lease assets, net 306,252 355,718
Real estate assets under direct financing leases, net 24,865 36,005
Real estate assets held for sale, net 20,469 100,861
Net investments 4,514,290 4,992,626
Cash and cash equivalents 8,792 5,914
Deferred costs and other assets, net 121,949 86,181
Goodwill 225,600 225,600
Assets related to SMTA Spin-Off 2,392,880 2,367,650
Total assets 7,263,511 7,677,971
Liabilities:    
Revolving Credit Facility 112,000 86,000
Term Loan, net 0 418,471
Senior Unsecured Notes, net 295,321 295,112
Mortgages and notes payable, net 589,644 822,789
Notes payable to Spirit Realty Capital, Inc., net 715,881 702,642
Total debt, net 1,712,846 2,325,014
Intangible lease liabilities, net 130,574 152,088
Accounts payable, accrued expenses and other liabilities 131,642 136,676
Liabilities related to SMTA Spin-Off 1,968,840 1,382,085
Total liabilities 3,943,902 3,995,863
Commitments and contingencies
Partners' Capital    
General partner's common capital, 3,988,218 units issued and outstanding as of both December 31, 2017 and December 31, 2016 24,426 26,586
Limited partners' preferred capital: 6,900,000 and no units issued and outstanding as of December 31, 2017 and December 31, 2016, respectively 166,193 0
Limited partners' common capital, 444,880,051 and 479,635,902 units issued and outstanding as of December 31, 2017 and December 31, 2016, respectively 3,128,990 3,655,522
Total partners' capital 3,319,609 3,682,108
Total liabilities and stockholders' equity/partners' capital $ 7,263,511 $ 7,677,971