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VARIABLE INTEREST ENTITIES (Tables) - Agemo Holdings LLC and Orianna Inc [Member]

12 Months Ended

Dec. 31, 2019


	December 31, 2019		December 31, 2018
	Agemo		Agemo		Orianna
	(in thousands)			(in thousands)
Assets
Real estate investments – net	$	403,389	$	413,396	$	30,459
Investments in direct financing leases - net		—		—		120,545
Other investments		58,687		46,287		40,242
Contractual receivables		18,113		18,017		249
Straight-line rent receivables		46,247		34,203		—
Lease inducement		6,810		2,362		—
Above market lease		—		2		—
Subtotal		533,246		514,267		191,495

Collateral
Letters of credit		(9,253)		(9,253)		—
Personal guarantee		(8,000)		(15,000)		—
Other collateral		(403,389)		(413,396)		(176,253)
Subtotal		(420,642)		(437,649)		(176,253)

Maximum exposure to loss	$	112,604	$	76,618	$	15,242

Schedule of Variable Interest Entities revenue

The table below reflects our total revenues from Agemo and Orianna for the years ended December 31, 2019, 2018 and 2017:


	2019		2018				2017
	Agemo		Agemo			Orianna		Agemo		Orianna
	(in thousands)
Revenue
Rental income	$	60,639	$	59,291	$	—	$	62,287	$	2,401
Income from direct financing leases		—		—		—		—		29,877
Other investment income		4,502		3,500		3,477		4,884		906
Total⁽¹⁾	$	65,141	$	62,791	$	3,477	$	67,171	$	33,184

(1)

For the years ended December 31, 2019, 2018 and 2017, we received cash rental income and other investment income from Agemo of approximately $53.7 million, $56.8 million and $39.8 million, respectively.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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