Noncontrolling Interests (Tables)

9 Months Ended

Sep. 30, 2023

Noncontrolling Interest [Abstract]

Schedule of the Change in the Carrying Value of all Noncontrolling Interests

The following table represents the change in the carrying value of all noncontrolling interests through September 30, 2023 (in thousands):

	Realty Income, L.P. units (1)		Other Noncontrolling Interests		Total
Carrying value at December 31, 2022	$	115,801	$	14,339	$	130,140
Contributions (2)	—		39,994		39,994
Distributions (3)	(4,243)		(2,865)		(7,108)
Allocation of net income	2,812		436		3,248
Carrying value at September 30, 2023	$	114,370	$	51,904	$	166,274

(1) 1,795,167 units were outstanding as of both September 30, 2023 and December 31, 2022.

(2) Includes contributions of $39.2 million for the issuance of a 5.0% joint venture interest as partial consideration paid on property acquisitions, contributions of $0.4 million related to a 5.0% interest in a development joint venture, and contributions of $0.4 million related to a 3.0% interest in a development joint venture.

(3) Includes a non-cash reduction of noncontrolling interest of $1.5 million from our partner's responsibility to absorb construction cost overages for a development joint venture during the nine months ended September 30, 2023.