Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Fair Value, by Balance Sheet Grouping

The following table presents the carrying value and fair value for the Company’s financial instruments ($ in millions):

	As of December 31, 2021				As of December 31, 2020
	Carrying		Fair		Carrying		Fair
	Value		Value		Value		Value
Assets
Net investment in sales-type leases(1)	$	2,413	$	2,704	$	1,306	$	1,306
Ground Lease receivables(1)		796		893		577		577
Cash and cash equivalents(2)		30		30		57		57
Restricted cash(2)		9		9		40		40
Liabilities
Debt obligations, net(1)
Level 1		738		741		—		—
Level 3		1,960		2,118		1,685		1,835
Total debt obligations, net		2,698		2,859		1,685		1,835

(1) The fair value of the Company’s net investment in sales-type leases and Ground Lease receivables are classified as Level 3 within the fair value hierarchy. The fair value of the Company’s debt obligations traded in secondary markets are classified as Level 1 within the fair value hierarchy and the fair value of the Company’s debt obligations not traded in secondary markets are classified as Level 3 within the fair value hierarchy.

(2) The Company determined the carrying values of its cash and cash equivalents and restricted cash approximated their fair values and are classified as Level 1 within the fair value hierarchy.