Segment Information

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Information

Segment Information

Our real property business and our golf course business represent two reportable segments. The real property business segment consists of leased real property and our real estate lending activities and represents the substantial majority of our business. The golf course business segment, which is wholly owned by VICI, consists of four golf courses, with each being operating segments that are aggregated into one reportable segment.

The results of each reportable segment presented below are consistent with the way our management assesses these results and allocates resources. The following table presents certain information with respect to our segments:

	Three Months Ended March 31, 2022						Three Months Ended March 31, 2021
(In thousands)	Real Property Business		Golf Course Business		VICI Consolidated		Real Property Business		Golf Course Business		VICI Consolidated
Revenues	$	407,999	$	8,626	$	416,625	$	367,497	$	6,813	$	374,310
Interest expense	(68,142)		—		(68,142)		(77,048)		—		(77,048)
Income before income taxes	240,492		2,596		243,088		271,035		1,548		272,583
Income tax benefit (expense)	162		(562)		(400)		(142)		(342)		(484)
Net income	240,654		2,034		242,688		270,893		1,206		272,099
Depreciation	30		746		776		32		760		792
Total assets	$	21,643,338	$	97,983	$	21,741,321	$	16,994,473	$	90,528	$	17,085,001
Total liabilities	$	6,239,551	$	17,984	$	6,257,535	$	7,468,648	$	16,661	$	7,485,309