Balance Sheet of the Operating Partnership

12 Months Ended

Dec. 31, 2021

The following table reflects the Consolidated Balance Sheets of the Operating Partnership as of December 31, 2021 and 2020:


Americold Realty Operating Partnership, L.P. and Subsidiaries
Consolidated Balance Sheets
(In thousands, except shares and per share amounts)
	December 31,
	2021		2020
Assets
Property, buildings and equipment:
Land	$	807,495	$	662,885
Buildings and improvements	4,152,763		4,004,824
Machinery and equipment	1,352,399		1,177,572
Assets under construction	450,153		303,531
	6,762,810		6,148,812
Accumulated depreciation	(1,634,909)		(1,382,298)
Property, buildings and equipment – net	5,127,901		4,766,514

Operating lease right-of-use assets	377,536		291,797
Accumulated depreciation – operating leases	(57,483)		(24,483)
Operating leases – net	320,053		267,314

Financing leases:
Buildings and improvements	13,552		60,513
Machinery and equipment	146,341		109,416
	159,893		169,929
Accumulated depreciation – financing leases	(58,165)		(40,937)
Financing leases – net	101,728		128,992
Cash, cash equivalents, and restricted cash	82,958		621,051
Accounts receivable – net of allowance of $18,755 and $12,286 at December 31, 2021 and 2020, respectively	380,014		324,221
Identifiable intangible assets – net	980,966		797,423
Goodwill	1,072,980		794,335
Investments in partially owned entities	37,458		44,907
Other assets	112,139		86,394
Total assets	$	8,216,197	$	7,831,151


Americold Realty Operating Partnership, L.P. and Subsidiaries
Consolidated Balance Sheets (Continued)
(In thousands, except shares and per share amounts)
	December 31,
	2021		2020
Liabilities and equity
Liabilities:
Borrowings under revolving line of credit	$	399,314	$	—
Accounts payable and accrued expenses	559,412		552,547
Mortgage notes, senior unsecured notes and term loan – net of deferred financing costs of $11,050 and $15,952 in the aggregate, at December 31, 2021 and 2020, respectively	2,443,806		2,648,266
Sale-leaseback financing obligations	178,817		185,060
Financing lease obligations	97,633		125,926
Operating lease obligations	301,765		269,147
Unearned revenue	26,143		19,209
Pension and postretirement benefits	2,843		9,145
Deferred tax liability – net	169,209		220,502
Multiemployer pension plan withdrawal liability	8,179		8,528
Total liabilities	4,187,121		4,038,330
Partner’s capital:
General partner – 265,599,766 and 249,185,577 units issued and outstanding as of December 31, 2021 and 2020, respectively	3,967,327		3,753,240
Limited partner – 2,682,826 and 2,517,026 units issued and outstanding as of December 31, 2021 and 2020, respectively	57,227		43,960
Accumulated other comprehensive income (loss)	4,522		(4,379)
Total partners’ capital	4,029,076		3,792,821

Total liabilities and partners’ capital	8,216,197		7,831,151