2017 Q4 Form 10-K Financial Statement

#000157596519000005 Filed on February 13, 2019

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $240.7M $244.5M $243.4M
YoY Change 0.79% 4.81% 17.38%
Cost Of Revenue $59.90M $41.60M $45.00M
YoY Change 47.9% 1.46% 20.64%
Gross Profit $180.8M $202.9M $198.4M
YoY Change -8.83% 5.51% 16.64%
Gross Profit Margin 75.12% 82.98% 81.51%
Selling, General & Admin -$300.0K $18.80M $14.70M
YoY Change -101.42% -13.76% -34.08%
% of Gross Profit -0.17% 9.27% 7.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $30.90M $28.63M $28.42M
YoY Change 0.98% 5.4% 5.2%
% of Gross Profit 17.09% 14.11% 14.33%
Operating Expenses $30.70M $91.81M $90.70M
YoY Change -37.85% 2.04% 4.8%
Operating Profit $150.1M $152.7M $152.7M
YoY Change 0.84% 6.55% 26.39%
Interest Expense -$53.50M $54.49M $54.66M
YoY Change 0.56% 3.05% 18.99%
% of Operating Profit -35.64% 35.69% 35.79%
Other Income/Expense, Net -$54.00M -$54.17M
YoY Change 3.06% 19.63%
Pretax Income $96.60M $98.70M $98.53M
YoY Change 0.94% 8.57% 30.44%
Income Tax $1.600M $1.684M $2.192M
% Of Pretax Income 1.66% 1.71% 2.22%
Net Earnings $93.26M $97.01M $96.33M
YoY Change -0.46% 8.27% 31.49%
Net Earnings / Revenue 38.75% 39.68% 39.58%
Basic Earnings Per Share $0.44 $0.46 $0.46
Diluted Earnings Per Share $0.43 $0.45 $0.45
COMMON SHARES
Basic Shares Outstanding 212.6M shares 212.5M shares 209.7M shares
Diluted Shares Outstanding 214.6M shares 211.8M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.10M $43.60M $29.50M
YoY Change -20.49% 71.65% 24.47%
Cash & Equivalents $29.05M $43.63M $29.51M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $29.10M $43.60M $29.50M
YoY Change -20.49% 71.65% 24.47%
LONG-TERM ASSETS
Property, Plant & Equipment $108.3M $110.2M $114.4M
YoY Change -9.32% -9.19% -7.91%
Goodwill $75.52M $75.52M $75.52M
YoY Change 0.0% 0.0% 0.0%
Intangibles $9.600M $9.577M $9.577M
YoY Change 0.24% 0.0% 0.0%
Long-Term Investments
YoY Change
Other Assets $653.1M $658.5M $655.2M
YoY Change 8.45% 8.66% 8.32%
Total Long-Term Assets $7.218B $7.291B $7.328B
YoY Change -1.57% -1.42% 2.84%
TOTAL ASSETS
Total Short-Term Assets $29.10M $43.60M $29.50M
Total Long-Term Assets $7.218B $7.291B $7.328B
Total Assets $7.247B $7.335B $7.357B
YoY Change -1.66% -1.17% 2.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $700.0K $400.0K $400.0K
YoY Change -36.36% -33.33% 100.0%
Accrued Expenses $52.00M $90.80M $45.40M
YoY Change 1.96% 2.14% -7.72%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $52.70M $91.20M $45.80M
YoY Change 1.15% 1.79% -7.47%
LONG-TERM LIABILITIES
Long-Term Debt $4.443B $4.450B $4.521B
YoY Change -4.76% -4.55% 0.18%
Other Long-Term Liabilities $292.8M $300.5M $270.9M
YoY Change 34.19% 36.47% 35.72%
Total Long-Term Liabilities $4.736B $4.750B $4.792B
YoY Change 1.52% 1.9% 6.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $52.70M $91.20M $45.80M
Total Long-Term Liabilities $4.736B $4.750B $4.792B
Total Liabilities $4.789B $4.842B $4.838B
YoY Change -2.97% -2.61% 1.59%
SHAREHOLDERS EQUITY
Retained Earnings -$1.478B -$1.437B -$1.400B
YoY Change 11.19% 10.7% 10.82%
Common Stock $3.936B $3.930B $3.918B
YoY Change 4.6% 4.87% 7.38%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.458B $2.493B $2.519B
YoY Change
Total Liabilities & Shareholders Equity $7.247B $7.335B $7.357B
YoY Change -1.66% -1.17% 2.91%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $93.26M $97.01M $96.33M
YoY Change -0.46% 8.27% 31.49%
Depreciation, Depletion And Amortization $30.90M $28.63M $28.42M
YoY Change 0.98% 5.4% 5.2%
Cash From Operating Activities $109.6M $196.9M $107.5M
YoY Change 0.55% 0.92% 1.03%
INVESTING ACTIVITIES
Capital Expenditures -$1.000M $10.00K $60.00K
YoY Change -56.52% -81.48% 1400.0%
Acquisitions
YoY Change
Other Investing Activities $18.60M $19.50M $18.30M
YoY Change 0.54% 0.0% 40.77%
Cash From Investing Activities $17.60M $18.70M -$57.70M
YoY Change 7.98% -106.08% -98.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -141.8M -201.4M -43.70M
YoY Change 24.39% -276.2% -101.57%
NET CHANGE
Cash From Operating Activities 109.6M 196.9M 107.5M
Cash From Investing Activities 17.60M 18.70M -57.70M
Cash From Financing Activities -141.8M -201.4M -43.70M
Net Change In Cash -14.60M 14.20M 6.100M
YoY Change -229.2% 787.5% -116.09%
FREE CASH FLOW
Cash From Operating Activities $109.6M $196.9M $107.5M
Capital Expenditures -$1.000M $10.00K $60.00K
Free Cash Flow $110.6M $196.9M $107.4M
YoY Change -0.63% 0.95% 0.98%

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CY2017Q4 us-gaap Commitments And Contingencies
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CY2018Q4 us-gaap Commitments And Contingencies
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0.56
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0.56
CY2016Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.60
CY2016Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.60
CY2017Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.62
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0.62
CY2017Q3 us-gaap Common Stock Dividends Per Share Cash Paid
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0.63
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CommonStockDividendsPerShareCashPaid
0.63
CY2018Q1 us-gaap Common Stock Dividends Per Share Cash Paid
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0.63
CY2018Q2 us-gaap Common Stock Dividends Per Share Cash Paid
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0.63
CY2018Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.63
CY2018Q4 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.68
CY2016 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
2.32
CY2016 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
2.32
CY2017 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
2.50
CY2017 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
2.5
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0.56
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0.60
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CommonStockDividendsPerShareDeclared
0.62
CY2017Q2 us-gaap Common Stock Dividends Per Share Declared
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0.62
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0.63
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0.63
CY2018Q1 us-gaap Common Stock Dividends Per Share Declared
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0.63
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0.63
CY2017Q4 us-gaap Common Stock Shares Issued
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212717549 shares
CY2018Q4 us-gaap Common Stock Shares Issued
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214211932 shares
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212717549 shares
CY2018Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
214211932 shares
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2127000 USD
CY2018Q4 us-gaap Common Stock Value
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2142000 USD
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6004000 USD
CY2017 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
7039000 USD
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
2856000 USD
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CurrentIncomeTaxExpenseBenefit
9080000 USD
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
10348000 USD
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
5486000 USD
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3076000 USD
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3309000 USD
CY2018 us-gaap Current State And Local Tax Expense Benefit
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2630000 USD
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CY2018Q4 us-gaap Debt Instrument Carrying Amount
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38350000 USD
CY2018Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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49615000 USD
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DeferredCompensationArrangementWithIndividualContributionsByEmployer
700000 USD
CY2017 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
600000 USD
CY2018 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
700000 USD
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22700000 USD
CY2018Q4 us-gaap Deferred Compensation Liability Current
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22800000 USD
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22600000 USD
CY2018Q4 us-gaap Deferred Compensation Plan Assets
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22700000 USD
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-1324000 USD
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-166000 USD
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
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4478000 USD
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5178000 USD
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DeferredIncomeTaxExpenseBenefit
-1535000 USD
CY2017 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-561000 USD
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-522000 USD
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244000 USD
CY2018Q4 us-gaap Deferred Income Tax Liabilities Net
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261000 USD
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232023000 USD
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293911000 USD
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CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-395000 USD
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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4234000 USD
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4917000 USD
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6420000 USD
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7134000 USD
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0 USD
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313000 USD
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5405000 USD
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1597000 USD
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1416000 USD
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2186000 USD
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2217000 USD
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1284000 USD
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DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
1460000 USD
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244000 USD
CY2018Q4 us-gaap Deferred Tax Liabilities Noncurrent
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261000 USD
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0.45
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0.43
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0.49
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0.21
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EarningsPerShareDiluted
1.58
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902000 USD
CY2018Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
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757000 USD
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300000 USD
CY2017 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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300000 USD
CY2018 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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300000 USD
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0.50
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113480000 USD
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115717000 USD
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123835000 USD
CY2018 us-gaap Depreciation Depletion And Amortization
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148365000 USD
CY2016 us-gaap Dividends
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428352000 USD
CY2017 us-gaap Dividends
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529370000 USD
CY2018 us-gaap Dividends
Dividends
550435000 USD
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1100000 USD
CY2017 us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
900000 USD
CY2018 us-gaap Dividends Share Based Compensation
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800000 USD
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1.62
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0.45
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0.46
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0.46
CY2017Q4 us-gaap Earnings Per Share Basic
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0.44
CY2017 us-gaap Earnings Per Share Basic
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1.80
CY2018Q1 us-gaap Earnings Per Share Basic
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0.45
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0.43
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0.49
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0.21
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1.59
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1.60
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EarningsPerShareDiluted
0.45
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EarningsPerShareDiluted
0.45
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EarningsPerShareDiluted
0.45
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EarningsPerShareDiluted
0.43
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.79
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0.025
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
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0.025
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
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0.014
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.350
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.35
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.000
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.005
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.000
CY2016 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses
0.000
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses
0.000
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses
0.036
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.007
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.006
CY2018 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.006
CY2017Q4 us-gaap Employee Related Liabilities Current And Noncurrent
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10809000 USD
CY2018Q4 us-gaap Employee Related Liabilities Current And Noncurrent
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17010000 USD
CY2016 us-gaap Gain Loss On Disposition Of Assets1
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455000 USD
CY2017 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-530000 USD
CY2018 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-309000 USD
CY2016 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
CY2017 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
CY2018 us-gaap Gains Losses On Extinguishment Of Debt
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-3473000 USD
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71368000 USD
CY2017 us-gaap General And Administrative Expense
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63151000 USD
CY2018 us-gaap General And Administrative Expense
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71128000 USD
CY2017Q4 us-gaap Goodwill
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75521000 USD
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16518000 USD
CY2018Q4 us-gaap Ground Leases Accumulated Amortization
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27790000 USD
CY2018 us-gaap Goodwill Impairment Loss
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59454000 USD
CY2018 us-gaap Goodwill Impairment Loss
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59500000 USD
CY2018Q4 us-gaap Goodwill
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16067000 USD
CY2016 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2017 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2017Q4 us-gaap Ground Leases Gross
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656666000 USD
CY2018 us-gaap Increase Decrease In Employee Related Liabilities
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6201000 USD
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16120000 USD
CY2017 us-gaap Increase Decrease In Interest Payable Net
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-502000 USD
CY2018 us-gaap Increase Decrease In Interest Payable Net
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12020000 USD
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-4672000 USD
CY2017 us-gaap Increase Decrease In Other Accrued Liabilities
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411000 USD
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700997000 USD
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640148000 USD
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673207000 USD
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296850000 USD
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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390385000 USD
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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344480000 USD
CY2016 us-gaap Income Tax Expense Benefit
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7545000 USD
CY2017 us-gaap Income Tax Expense Benefit
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9787000 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4964000 USD
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IncomeTaxReconciliationChangeInEnactedTaxRate
0 USD
CY2017 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
1818000 USD
CY2018 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
0 USD
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
103897000 USD
CY2017 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
136636000 USD
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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72341000 USD
CY2016 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
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0 USD
CY2017 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses
0 USD
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
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12485000 USD
CY2016 us-gaap Income Tax Reconciliation Other Adjustments
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24000 USD
CY2017 us-gaap Income Tax Reconciliation Other Adjustments
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-124000 USD
CY2018 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
24000 USD
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
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2039000 USD
CY2017 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
2284000 USD
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
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2246000 USD
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7362000 USD
CY2017 us-gaap Income Taxes Paid Net
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11646000 USD
CY2018 us-gaap Income Taxes Paid Net
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5389000 USD
CY2016 us-gaap Increase Decrease In Accounts Payable
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506000 USD
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-421000 USD
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1796000 USD
CY2016 us-gaap Increase Decrease In Accrued Income Taxes Payable
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0 USD
CY2017 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
0 USD
CY2018 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
0 USD
CY2016 us-gaap Increase Decrease In Employee Related Liabilities
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-3100000 USD
CY2017 us-gaap Increase Decrease In Employee Related Liabilities
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190000 USD
CY2018 us-gaap Increase Decrease In Other Accrued Liabilities
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-126000 USD
CY2016 us-gaap Increase Decrease In Other Operating Liabilities
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1875000 USD
CY2017 us-gaap Increase Decrease In Other Operating Liabilities
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5847000 USD
CY2018 us-gaap Increase Decrease In Other Operating Liabilities
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-438000 USD
CY2016 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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-7565000 USD
CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5332000 USD
CY2018 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
673000 USD
CY2016 us-gaap Increase Decrease In Property And Other Taxes Payable
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913000 USD
CY2017 us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
-517000 USD
CY2018 us-gaap Increase Decrease In Property And Other Taxes Payable
IncreaseDecreaseInPropertyAndOtherTaxesPayable
-149000 USD
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
9577000 USD
CY2017Q4 us-gaap Intangible Assets Net Excluding Goodwill
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9600000 USD
CY2018Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
9577000 USD
CY2016 us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
0 USD
CY2017 us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
0 USD
CY2018 us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
6943000 USD
CY2016 us-gaap Interest Expense
InterestExpense
185896000 USD
CY2017 us-gaap Interest Expense
InterestExpense
217068000 USD
CY2018 us-gaap Interest Expense
InterestExpense
247684000 USD
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154527000 USD
CY2017 us-gaap Interest Paid Net
InterestPaidNet
204442000 USD
CY2018 us-gaap Interest Paid Net
InterestPaidNet
229779000 USD
CY2017Q4 us-gaap Interest Payable Current And Noncurrent
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33241000 USD
CY2018Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
45261000 USD
CY2017Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
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0 USD
CY2018Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
0 USD
CY2016 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
11000000 USD
CY2017 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
15800000 USD
CY2018 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
18900000 USD
CY2018Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
400000 USD
CY2017Q4 us-gaap Liabilities
Liabilities
4788635000 USD
CY2018Q4 us-gaap Liabilities
Liabilities
6311686000 USD
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
7246882000 USD
CY2018Q4 us-gaap Loans Receivable Commercial Mortgage
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303684000 USD
CY2017Q4 us-gaap Loans Receivable Net
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13000000 USD
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8577293000 USD
CY2018Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
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772600000 USD
CY2017Q4 us-gaap Loans Receivable Commercial Mortgage
LoansReceivableCommercialMortgage
0 USD
CY2018Q4 us-gaap Loans Receivable Net
LoansReceivableNet
13000000 USD
CY2017Q4 us-gaap Long Term Debt
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4442880000 USD
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
5853497000 USD
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3075434000 USD
CY2018Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Five
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFive
902149000 USD
CY2018Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Four
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFour
142000 USD
CY2018Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Three
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearThree
925135000 USD
CY2018Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Two
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearTwo
1000129000 USD
CY2018Q4 us-gaap Long Term Debt And Capital Lease Obligations Repayments Of Principal In Next Twelve Months
LongTermDebtAndCapitalLeaseObligationsRepaymentsOfPrincipalInNextTwelveMonths
123000 USD
CY2017Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
0 USD
CY2018Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
303684000 USD
CY2018 us-gaap Mortgage Loans On Real Estate New Mortgage Loans
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303684000 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
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2698927000 USD
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
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-606911000 USD
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
852080000 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
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-3218616000 USD
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
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698000 USD
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
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-1509784000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
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514370000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
598711000 USD
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
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654433000 USD
CY2016 us-gaap Net Income Loss
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289305000 USD
CY2017Q1 us-gaap Net Income Loss
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93991000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
96334000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
97014000 USD
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
93259000 USD
CY2017 us-gaap Net Income Loss
NetIncomeLoss
380598000 USD
CY2018Q1 us-gaap Net Income Loss
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96772000 USD
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
91998000 USD
CY2018Q3 us-gaap Net Income Loss
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104815000 USD
CY2018Q4 us-gaap Net Income Loss
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45931000 USD
CY2018 us-gaap Net Income Loss
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339516000 USD
CY2016 us-gaap Net Income Loss Available To Common Stockholders Basic
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288637000 USD
CY2017 us-gaap Net Income Loss Available To Common Stockholders Basic
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379976000 USD
CY2018 us-gaap Net Income Loss Available To Common Stockholders Basic
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339041000 USD
CY2016 us-gaap Nonoperating Income Expense
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-183773000 USD
CY2017 us-gaap Nonoperating Income Expense
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-215133000 USD
CY2018 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-249330000 USD
CY2018Q4 us-gaap Number Of Real Estate Properties
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42 property
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480623000 USD
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
150006000 USD
CY2017Q2 us-gaap Operating Income Loss
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152696000 USD
CY2018 us-gaap Number Of Reportable Segments
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2 segment
CY2018Q4 us-gaap Number Of States In Which Entity Operates
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16 state
CY2016 us-gaap Operating Expenses
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347632000 USD
CY2017 us-gaap Operating Expenses
OperatingExpenses
365789000 USD
CY2018 us-gaap Operating Expenses
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461917000 USD
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
152699000 USD
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
150117000 USD
CY2017 us-gaap Operating Income Loss
OperatingIncomeLoss
605518000 USD
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
151851000 USD
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
153241000 USD
CY2018Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
164834000 USD
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
123884000 USD
CY2018 us-gaap Operating Income Loss
OperatingIncomeLoss
593810000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
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616886000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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15519000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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15005000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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15026000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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15042000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
15159000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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541135000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable
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15588990000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Current
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959797000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
854210000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
854210000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
854210000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
920129000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
11146434000 USD
CY2017Q4 us-gaap Other Assets
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58675000 USD
CY2018Q4 us-gaap Other Assets
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67486000 USD
CY2017Q4 us-gaap Other Liabilities
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25411000 USD
CY2018Q4 us-gaap Other Liabilities
OtherLiabilities
26059000 USD
CY2016 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
2123000 USD
CY2017 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1935000 USD
CY2018 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1827000 USD
CY2016 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
668000 USD
CY2017 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
622000 USD
CY2018 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
475000 USD
CY2016 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
3111000 USD
CY2017 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
3178000 USD
CY2018 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
4284000 USD
CY2016 us-gaap Payments Of Dividends
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428352000 USD
CY2017 us-gaap Payments Of Dividends
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529370000 USD
CY2018 us-gaap Payments Of Dividends
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550435000 USD
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q4 us-gaap Preferred Stock Value
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0 USD
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Prepaid Expense Current And Noncurrent
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8452000 USD
CY2018Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
30967000 USD
CY2016Q1 us-gaap Payments Of Dividends Common Stock
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65345000 USD
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113212000 USD
CY2016Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
124262000 USD
CY2016Q4 us-gaap Payments Of Dividends Common Stock
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124466000 USD
CY2017Q1 us-gaap Payments Of Dividends Common Stock
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129007000 USD
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131554000 USD
CY2017Q3 us-gaap Payments Of Dividends Common Stock
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133936000 USD
CY2017Q4 us-gaap Payments Of Dividends Common Stock
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133942000 USD
CY2018Q1 us-gaap Payments Of Dividends Common Stock
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134490000 USD
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134631000 USD
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134844000 USD
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145627000 USD
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31911000 USD
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0 USD
CY2018 us-gaap Payments Of Financing Costs
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32426000 USD
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0 USD
CY2017 us-gaap Payments To Acquire Finance Receivables
PaymentsToAcquireFinanceReceivables
0 USD
CY2018 us-gaap Payments To Acquire Finance Receivables
PaymentsToAcquireFinanceReceivables
303684000 USD
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
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330000 USD
CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
78000 USD
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
20000 USD
CY2016 us-gaap Payments To Acquire Real Estate
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3267992000 USD
CY2017 us-gaap Payments To Acquire Real Estate
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83252000 USD
CY2018 us-gaap Payments To Acquire Real Estate
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1243466000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.01
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000 shares
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016 us-gaap Proceeds From Collection Of Lease Receivables
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48533000 USD
CY2017 us-gaap Proceeds From Collection Of Lease Receivables
ProceedsFromCollectionOfLeaseReceivables
73072000 USD
CY2018 us-gaap Proceeds From Collection Of Lease Receivables
ProceedsFromCollectionOfLeaseReceivables
38459000 USD
CY2016 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
3150000 USD
CY2017 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
13200000 USD
CY2018 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
0 USD
CY2016Q2 us-gaap Proceeds From Issuance Of Common Stock
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825200000 USD
CY2016 us-gaap Proceeds From Issuance Of Long Term Debt
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2552000000 USD
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ProceedsFromIssuanceOfLongTermDebt
100000000 USD
CY2018 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
2593405000 USD
CY2018Q1 us-gaap Revenues
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244050000 USD
CY2016 us-gaap Proceeds From Sale Of Property Plant And Equipment
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1134000 USD
CY2017 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
934000 USD
CY2018 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3211000 USD
CY2017Q4 us-gaap Property Plant And Equipment Gross
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261542000 USD
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
264738000 USD
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108293000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
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100884000 USD
CY2015Q4 us-gaap Real Estate Accumulated Depreciation
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660808000 USD
CY2016Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
756881000 USD
CY2017Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
857456000 USD
CY2018Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
983086000 USD
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RealEstateAccumulatedDepreciationRealEstateSold
0 USD
CY2017 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
1000 USD
CY2018 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
0 USD
CY2018Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
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5762070000 USD
CY2018Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
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2552476000 USD
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176589000 USD
CY2018Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
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5581881000 USD
CY2018Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
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2556077000 USD
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RealEstateCostOfRealEstateSold
426000 USD
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RealEstateCostOfRealEstateSold
10000 USD
CY2018 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
3270000 USD
CY2015Q4 us-gaap Real Estate Gross At Carrying Value
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2750867000 USD
CY2016Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
4495972000 USD
CY2017Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
4519501000 USD
CY2018Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
8314546000 USD
CY2016 us-gaap Real Estate Improvements
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82000 USD
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RealEstateImprovements
32000 USD
CY2018 us-gaap Real Estate Improvements
RealEstateImprovements
0 USD
CY2017Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
857456000 USD
CY2018Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
983086000 USD
CY2017Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
4519501000 USD
CY2018Q4 us-gaap Real Estate Investment Property At Cost
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8314546000 USD
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3662045000 USD
CY2018Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
7331460000 USD
CY2016 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
1745449000 USD
CY2017 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
23507000 USD
CY2018 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
1199135000 USD
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RealEstateOtherAdditions
0 USD
CY2017 us-gaap Real Estate Other Additions
RealEstateOtherAdditions
0 USD
CY2018 us-gaap Real Estate Other Additions
RealEstateOtherAdditions
2599180000 USD
CY2016 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
69448000 USD
CY2017 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
84666000 USD
CY2018 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
88757000 USD
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254221000 USD
CY2018Q3 us-gaap Revenues
Revenues
254139000 USD
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377104000 USD
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335112000 USD
CY2018 us-gaap Repayments Of Long Term Debt
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1164117000 USD
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-1477709000 USD
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-1689038000 USD
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Revenues
828255000 USD
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Revenues
242713000 USD
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Revenues
243391000 USD
CY2017Q3 us-gaap Revenues
Revenues
244506000 USD
CY2017Q4 us-gaap Revenues
Revenues
240697000 USD
CY2017 us-gaap Revenues
Revenues
971307000 USD
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213720000 shares
CY2018Q4 us-gaap Revenues
Revenues
303317000 USD
CY2018 us-gaap Revenues
Revenues
1055727000 USD
CY2016 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
96073000 USD
CY2017 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
100576000 USD
CY2018 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
125630000 USD
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
18312000 USD
CY2017 us-gaap Share Based Compensation
ShareBasedCompensation
15636000 USD
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
11152000 USD
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
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2556815 shares
CY2016 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2694800000 USD
CY2017 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
139414000 USD
CY2016 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
16155000 USD
CY2017 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
12733000 USD
CY2018 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-1126000 USD
CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
115475000 USD
CY2017 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
21003000 USD
CY2018 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
19815000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
-253514000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
2433869000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
2458247000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
2265607000 USD
CY2016 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
58673000 USD
CY2017 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
65971000 USD
CY2018 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
61888000 USD
CY2016 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
1000 USD
CY2017 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 USD
CY2018 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 USD
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
180622000 shares
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
212752000 shares
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
214779000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
178594000 shares
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
210705000 shares
CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Concentration of Credit Risk</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:42px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Concentrations of credit risk arise when a number of operators, tenants, or obligors related to the Company's investments are engaged in similar business activities, or activities in the same geographic region, or have similar economic features that would cause their ability to meet contractual obligations, including those to the Company, to be similarly affected by changes in economic conditions. Additionally, concentrations of credit risk may arise when revenues of the Company are derived from a small number of tenants. As of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, substantially all of the Company's real estate properties were leased to Penn, Eldorado and Boyd. During the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, approximately </font><font style="font-family:inherit;font-size:10pt;">93%</font><font style="font-family:inherit;font-size:10pt;"> of the Company's collective income from real estate (excluding real estate taxes and ground leases paid by tenants) was derived from tenant leases with Penn and its acquiree Pinnacle, whereas approximately </font><font style="font-family:inherit;font-size:10pt;">3%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2%</font><font style="font-family:inherit;font-size:10pt;"> of the Company's collective income from real estate (excluding real estate taxes and ground leases paid by tenants) was derived from tenant leases and mortgage loans with Eldorado and Boyd, respectively. Figures for Eldorado and Boyd represent partial years of revenue as both leases commenced in the fourth quarter of 2018. Revenues from our tenants are reported in the Company's GLP Capital,&#160;L.P. reportable segment. Penn, Eldorado and Boyd are publicly traded companies that are subject to the informational filing requirements of the Securities Exchange Act of 1934, as amended, and are required to file periodic reports on Form&#160;10-K and Form&#160;10-Q and current reports on Form 8-K with the Securities and Exchange Commission ("SEC"). Readers are directed to Penn, Eldorado and Boyd's respective websites for further financial information on these companies. Other than the Company's tenant concentration, management believes the Company's portfolio was reasonably diversified by geographical location and did not contain any other significant concentrations of credit risk. As of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, the Company's portfolio of </font><font style="font-family:inherit;font-size:10pt;">46</font><font style="font-family:inherit;font-size:10pt;"> properties is diversified by location across </font><font style="font-family:inherit;font-size:10pt;">16</font><font style="font-family:inherit;font-size:10pt;"> states.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments that subject the Company to credit risk consist of cash and cash equivalents, accounts receivable, mortgage loans receivable and loans receivable.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's policy is to limit the amount of credit exposure to any one financial institution and place investments with financial institutions evaluated as being creditworthy, or in short-term money market and tax-free bond funds which are exposed to minimal interest rate and credit risk. At times, the Company has bank deposits and overnight repurchase agreements that exceed federally-insured limits.</font></div></div>

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