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Noncontrolling Interests (Tables)

9 Months Ended

Sep. 30, 2024

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, 2024 (in thousands):


	Realty Income, L.P. units (1)		Other Noncontrolling Interests		Total
Carrying value at December 31, 2023	$	114,072	$	51,430	$	165,502
Contributions	—		1,770		1,770
Distributions	(4,627)		(2,811)		(7,438)
Allocation of net income	4,287		544		4,831

Issuance of common partnership units (2)	54,643		(7,390)		47,253
Carrying value at September 30, 2024	$	168,375	$	43,543	$	211,918

(1) 2,681,808 and 1,795,167 units were outstanding as of September 30, 2024 and December 31, 2023, respectively.

(2) In July 2024, a joint venture partner converted their interests in two consolidated property partnerships into 156,621 common partnership units in Realty Income, LP and recorded the excess over carrying value of $0.8 million as a reduction to common stock and paid in capital.