STORE CAPITAL LLC

2024 Q3 Form 10-Q Financial Statement

#000095017024089754 Filed on August 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $482.2M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $15.16B
YoY Change 3.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $6.553B
YoY Change 3.22%
SHAREHOLDERS EQUITY
Retained Earnings -$87.05M
YoY Change 15.66%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity
YoY Change
Total Liabilities & Shareholders Equity $15.16B
YoY Change 3.49%

Cashflow Statement

Concept 2024 Q3 2024 Q2

Facts In Submission

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dei Entity Central Index Key
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dei Entity File Number
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001-36739
dei Entity Registrant Name
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STORE CAPITAL LLC
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
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dei Entity Address Address Line1
EntityAddressAddressLine1
8377 East Hartford Drive
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Suite 100
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Scottsdale
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AZ
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us-gaap Profit Loss
ProfitLoss
52007000
us-gaap Profit Loss
ProfitLoss
-75265000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
25787000
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
293107000
us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
240225000
CY2023Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
27789000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
39626000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
39792000
CY2023Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
715000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
975000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
17453000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
12356000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
35113000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
-181000
CY2023Q1 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
97000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-42153000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
10377000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
3417000
CY2023Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
77000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
454000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
3873000
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2876000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-467000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-8320000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
7164000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
355782000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
243832000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
59380000
us-gaap Payments To Acquire And Develop Real Estate
PaymentsToAcquireAndDevelopRealEstate
335221000
us-gaap Payments To Acquire And Develop Real Estate
PaymentsToAcquireAndDevelopRealEstate
308158000
CY2023Q1 us-gaap Payments To Acquire And Develop Real Estate
PaymentsToAcquireAndDevelopRealEstate
48063000
ck0001538990 Cash Outflows For Loans And Financing Receivables
CashOutflowsForLoansAndFinancingReceivables
270104000
ck0001538990 Cash Outflows For Loans And Financing Receivables
CashOutflowsForLoansAndFinancingReceivables
135475000
CY2023Q1 ck0001538990 Cash Outflows For Loans And Financing Receivables
CashOutflowsForLoansAndFinancingReceivables
82112000
ck0001538990 Collections Of Principal On Loans And Financing Receivables
CollectionsOfPrincipalOnLoansAndFinancingReceivables
843000
ck0001538990 Collections Of Principal On Loans And Financing Receivables
CollectionsOfPrincipalOnLoansAndFinancingReceivables
15818000
CY2023Q1 ck0001538990 Collections Of Principal On Loans And Financing Receivables
CollectionsOfPrincipalOnLoansAndFinancingReceivables
468000
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
206867000
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
18736000
CY2023Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
682000
ck0001538990 Payments For Asset Acquisition
PaymentsForAssetAcquisition
10547219000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-397615000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10956298000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-129025000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
616000000
CY2023Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
70000000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
0
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
230000000
CY2023Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
25000000
us-gaap Proceeds From Unsecured Notes Payable
ProceedsFromUnsecuredNotesPayable
135000000
us-gaap Proceeds From Unsecured Notes Payable
ProceedsFromUnsecuredNotesPayable
800000000
CY2023Q1 us-gaap Proceeds From Unsecured Notes Payable
ProceedsFromUnsecuredNotesPayable
40000000
ck0001538990 Repayments Under Unsecured Notes And Term Loans Payable
RepaymentsUnderUnsecuredNotesAndTermLoansPayable
185600000
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
1957750000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
1040000000
ck0001538990 Proceeds From Non Recourse Debt
ProceedsFromNonRecourseDebt
449936000
ck0001538990 Proceeds From Non Recourse Debt
ProceedsFromNonRecourseDebt
527925000
ck0001538990 Repayments Of Non Recourse Debt
RepaymentsOfNonRecourseDebt
207173000
ck0001538990 Repayments Of Non Recourse Debt
RepaymentsOfNonRecourseDebt
9663000
CY2023Q1 ck0001538990 Repayments Of Non Recourse Debt
RepaymentsOfNonRecourseDebt
15906000
ck0001538990 Financing Cost And Prepayment Penalties Paid
FinancingCostAndPrepaymentPenaltiesPaid
4423000
ck0001538990 Financing Cost And Prepayment Penalties Paid
FinancingCostAndPrepaymentPenaltiesPaid
43500000
CY2023Q1 ck0001538990 Financing Cost And Prepayment Penalties Paid
FinancingCostAndPrepaymentPenaltiesPaid
1106000
us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
285000000
us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
8551970000
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
363007000
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
190008000
ck0001538990 Distributions To Non Controlling Interest
DistributionsToNonControllingInterest
-358000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
294975000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
10754874000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
67988000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
253142000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
42408000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1657000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
250227000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39804000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
503369000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
42408000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
38147000
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
482237000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
36820000
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
33096000
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
21132000
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
5588000
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
5051000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
503369000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
42408000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
38147000
ck0001538990 Accrued Tenant Improvement Advances Included In Real Estate Investments
AccruedTenantImprovementAdvancesIncludedInRealEstateInvestments
11346000
ck0001538990 Accrued Tenant Improvement Advances Included In Real Estate Investments
AccruedTenantImprovementAdvancesIncludedInRealEstateInvestments
19871000
ck0001538990 Tenant Funded Improvements To Real Estate Investments
TenantFundedImprovementsToRealEstateInvestments
10950000
ck0001538990 Accrued Financing Costs
AccruedFinancingCosts
215000
ck0001538990 Non Cash Distributions
NonCashDistributions
11385000
us-gaap Interest Paid Net
InterestPaidNet
137949000
us-gaap Interest Paid Net
InterestPaidNet
131021000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
11488000
ck0001538990 Income And Franchise Taxes Paid
IncomeAndFranchiseTaxesPaid
5010000
ck0001538990 Income And Franchise Taxes Paid
IncomeAndFranchiseTaxesPaid
8630000
CY2023Q1 ck0001538990 Income And Franchise Taxes Paid
IncomeAndFranchiseTaxesPaid
20000
us-gaap Variable Interest Entity Ownership Percentage
VariableInterestEntityOwnershipPercentage
0.95
ck0001538990 Variable Interest Entity Intercompany Loan To Joint Venture
VariableInterestEntityIntercompanyLoanToJointVenture
105200000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during the reporting period. Although management believes its estimates are reasonable, actual results could differ from those estimates.</span></p>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
ck0001538990 Investments Number Of Transaction Types
InvestmentsNumberOfTransactionTypes
3
CY2024Q2 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
24000000
CY2023Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
13300000
ck0001538990 Leases Indexed To Cpi Increases Adjustment Period Minimum
LeasesIndexedToCPIIncreasesAdjustmentPeriodMinimum
P1Y
ck0001538990 Leases Indexed To Cpi Increases Multiplier Minimum
LeasesIndexedToCPIIncreasesMultiplierMinimum
1
ck0001538990 Leases Indexed To Cpi Increases Multiplier Maximum
LeasesIndexedToCPIIncreasesMultiplierMaximum
1.25
CY2024Q2 ck0001538990 Leases Based Upon Tenant Sales Percentage Of Investment Portfolio
LeasesBasedUponTenantSalesPercentageOfInvestmentPortfolio
0.032
CY2024Q2 ck0001538990 Maximum Contingent Rent As Percentage Of Rental Revenue Historically
MaximumContingentRentAsPercentageOfRentalRevenueHistorically
0.02
CY2024Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
7400000
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
14200000
ck0001538990 Fair Value Of Impaired Real Estate Assets
FairValueOfImpairedRealEstateAssets
57900000
CY2023Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
5400000
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
6700000
CY2023Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0
CY2024Q2 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
59700000
CY2023Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
54800000
ck0001538990 Provision For Credit Losses Number Of Classes
ProvisionForCreditLossesNumberOfClasses
2
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
21100000
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
10800000
us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Derivative Instruments and Hedging Activities</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company may enter into derivative contracts as part of its overall financing strategy to manage the Company’s exposure to changes in interest rates associated with current and/or future debt issuances. The Company does not use derivatives for trading or speculative purposes. The use of derivative financial instruments carries certain risks, including the risk that the counterparties to these contractual arrangements are not able to perform under the agreements. To mitigate this risk, the Company enters into derivative financial instruments only with counterparties with high credit ratings and with major financial institutions with which the Company may also have other financial relationships. The Company does not anticipate that any of the counterparties will fail to meet their obligations.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company records its derivatives on the balance sheet at fair value. All derivatives subject to a master netting arrangement in accordance with the associated master International Swap and Derivatives Association agreement have been presented on a net basis by counterparty portfolio for purposes of balance sheet presentation and related disclosures. The accounting for changes in the fair</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">value of derivatives depends on the intended use of the derivative, whether the Company has elected to apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the earnings effect of the hedged forecasted transactions in a cash flow hedge. The changes in the fair value of derivatives designated and that qualify as cash flow hedges are recorded in accumulated other comprehensive income (loss). Amounts reported in accumulated other comprehensive income (loss) related to cash flow hedges are reclassified to operations as an adjustment to interest expense as interest payments are made on the hedged debt transaction.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of June 30, 2024</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, the Company had </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">21</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> interest rate swap agreements in place. </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">Eleven</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of the interest rate swap agreements have an aggregate notional value of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">921.1</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million, with </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">ten</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> maturing in May 2027 and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> maturing in May 2029, and are designated cash flow hedges of the Company’s $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">921.1</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million variable-rate bank unsecured term loan which matures in April 2027 (Note 4). </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">Three</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> interest rate swap agreements with an aggregate notional value of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">375.0</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million and maturing in February 2027 are designated cash flow hedges of the Company’s variable-rate unsecured revolving credit facility which matures in February 2027 (Note 4). </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">Seven</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of the interest rate swap agreements with an aggregate notional value of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">727.5</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million, </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">two</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> with maturities in February 2027, and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">five</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> with maturities in July 2028, are designated cash flow hedges of the Company’s $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">727.5</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million floating-rate bank incremental unsecured term loan which matures in July 2026 (Note 4).</span></p>
CY2024Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1900000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4300000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4300000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4000000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
700000
CY2024Q2 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0
CY2024Q2 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2023Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
25787000
CY2023Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
41000
CY2023Q1 ck0001538990 Net Income Loss After Dividends Paid To Participating Securities And Available To Common Stockholders
NetIncomeLossAfterDividendsPaidToParticipatingSecuritiesAndAvailableToCommonStockholders
25746000
CY2023Q1 ck0001538990 Weighted Average Number Of Shares And Unvested Restricted Shares Outstanding
WeightedAverageNumberOfSharesAndUnvestedRestrictedSharesOutstanding
282684998
CY2023Q1 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
446847
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
282238151
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
100254
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
282338405
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
197026
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2024Q2 ck0001538990 Number Of Real Estate Properties Ground Leases And Mortgages
NumberOfRealEstatePropertiesGroundLeasesAndMortgages
3230
CY2024Q2 us-gaap Number Of Real Estate Properties Fee Simple
NumberOfRealEstatePropertiesFeeSimple
3191
CY2024Q2 ck0001538990 Number Of Real Estate Properties Accounted As Financing Arrangements
NumberOfRealEstatePropertiesAccountedAsFinancingArrangements
171
CY2024Q2 ck0001538990 Number Of Real Estate Properties Direct Financing Receivables
NumberOfRealEstatePropertiesDirectFinancingReceivables
52
CY2024Q2 ck0001538990 Number Of Ground Lease Interests
NumberOfGroundLeaseInterests
25
CY2024Q2 ck0001538990 Number Of Properties Securing Mortgage Loans
NumberOfPropertiesSecuringMortgageLoans
14
CY2024Q2 ck0001538990 Investments In Real Estate And Financing Receivables Gross
InvestmentsInRealEstateAndFinancingReceivablesGross
15200000000
CY2024Q2 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
13600000000
CY2024Q2 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
144700000
CY2024Q2 us-gaap Notes Receivable Net
NotesReceivableNet
1500000000
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
57700000
ck0001538990 Special Purpose Entity Pledged As Collateral Under Non Recourse Debt
SpecialPurposeEntityPledgedAsCollateralUnderNonRecourseDebt
0.34
CY2023Q4 ck0001538990 Number Of Real Estate Properties Ground Leases And Mortgages
NumberOfRealEstatePropertiesGroundLeasesAndMortgages
3206
CY2023Q4 ck0001538990 Investments In Real Estate And Financing Receivables Gross
InvestmentsInRealEstateAndFinancingReceivablesGross
14801634000
ck0001538990 Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
42
ck0001538990 Real Estate Acquisitions And Additions
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