Basis of Presentation (Tables)

6 Months Ended

Jun. 30, 2018

The following table presents a summary of selected financial data of the consolidated VIEs, included in the consolidated balance sheets (in thousands):



	June 30, 2018			December 31, 2017
Real estate — Land, buildings and improvements	$	98,620		$	109,426
Operating real estate — Land, buildings and improvements	88,167			80,658
Net investments in direct financing leases	311,466			312,234
In-place lease intangible assets	8,501			8,650
Accumulated depreciation and amortization	(22,883		)	(26,395		)
Assets held for sale, net	3,189			—
Accounts receivable and other assets, net	65,752			73,620
Total assets	559,152			567,929

Mortgage debt, net	$	102,979		$	104,213
Accounts payable, accrued expenses and other liabilities	11,916			12,693
Deferred income taxes	10,251			12,374
Total liabilities	125,509			129,662

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total presented in the consolidated statement of cash flows.



	June 30, 2018		December 31, 2017
Cash and cash equivalents	$	90,994	$	119,094
Restricted cash ^(a)	23,968		26,014
Total cash and cash equivalents, and restricted cash	$	114,962	$	145,108

__________


(a)	Restricted cash is included within Accounts receivable and other assets, net on our consolidated balance sheet.

Restrictions on Cash and Cash Equivalents



	June 30, 2018		December 31, 2017
Cash and cash equivalents	$	90,994	$	119,094
Restricted cash ^(a)	23,968		26,014
Total cash and cash equivalents, and restricted cash	$	114,962	$	145,108

__________


(a)	Restricted cash is included within Accounts receivable and other assets, net on our consolidated balance sheet.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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