REVENUE RECOGNITION

3 Months Ended

Mar. 31, 2019

REVENUE RECOGNITION

REVENUE RECOGNITION

NOTE 2. REVENUE RECOGNITION

The Company implemented FASB ASC Topic 606, Revenue from Contracts with Customers effective January 1, 2018 utilizing the modified retrospective method.

The following table summarizes the Company’s revenue by segment, major good and/or service, and the related timing of revenue recognition for the three months ended March 31, 2019:

		Income		Real Estate		Total
		Properties		Operations		Revenues
		($000's)		($000's)		($000's)
Major Good / Service:
	Lease Revenue - Base Rent	$	8,875	$	27	$	8,902
	Lease Revenue - CAM		670		—		670
	Lease Revenue - Reimbursements		546		—		546
	Lease Revenue - Billboards		36		—		36
	Above / Below Market Lease Accretion		581		—		581
	Contributed Leased Assets Accretion		62		—		62
	Lease Incentive Amortization		(76)		—		(76)
	Land Sale Revenue		—		3,300		3,300
	Subsurface Lease Revenue		—		199		199
	Subsurface Revenue - Other		—		9		9
	Interest and Other Revenue		30		—		30
	Total Revenues	$	10,724	$	3,535	$	14,259
Timing of Revenue Recognition:
	Asset/Good Transferred at a Point in Time	$	—	$	3,309	$	3,309
	Services Transferred Over Time		30		—		30
	Over Lease Term		10,694		226		10,920
	Commercial Loan Investment Related Revenue		—		—		—
	Total Revenues	$	10,724	$	3,535	$	14,259

The following table summarizes the Company’s revenue by segment, major good and/or service, and the related timing of revenue recognition for the three months ended March 31, 2018:

				Interest Income
		Income		from Commercial		Real Estate		Total
		Properties		Loan Investments		Operations		Revenues
		($000's)		($000's)		($000's)		($000's)
Major Good / Service:
	Lease Revenue - Base Rent	$	7,422	$	—	$	11	$	7,433
	Lease Revenue - CAM		614		—		—		614
	Lease Revenue - Reimbursements		565		—		—		565
	Lease Revenue - Billboards		64		—		—		64
	Above / Below Market Lease Accretion		580		—		—		580
	Contributed Leased Assets Accretion		10		—		—		10
	Lease Incentive Amortization		(76)		—		—		(76)
	Interest from Commercial Loan Investments		—		301		—		301
	Land Sale Revenue		—		—		13,117		13,117
	Impact Fee and Mitigation Credit Sales		—		—		116		116
	Subsurface Lease Revenue		—		—		199		199
	Subsurface Revenue - Other		—		—		547		547
	Interest and Other Revenue		27		—		—		27
	Total Revenues	$	9,206	$	301	$	13,990	$	23,497
Timing of Revenue Recognition:
	Asset/Good Transferred at a Point in Time	$	—	$	—	$	13,780	$	13,780
	Services Transferred Over Time		27		—		—		27
	Over Lease Term		9,179		—		210		9,389
	Commercial Loan Investment Related Revenue		—		301		—		301
	Total Revenues	$	9,206	$	301	$	13,990	$	23,497