2021 Q4 Form 10-K Financial Statement

#000157596522000005 Filed on February 24, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2021
Revenue $298.3M $298.7M $1.216B
YoY Change -0.62% -2.87% 5.48%
Cost Of Revenue $18.02M $5.766M $53.04M
YoY Change -25.86% -68.28% -6.45%
Gross Profit $280.3M $292.9M $1.163B
YoY Change 1.6% 1.23% 6.1%
Gross Profit Margin 93.96% 98.07% 95.64%
Selling, General & Admin $15.28M $13.07M $61.25M
YoY Change -11.7% -16.78% -1.69%
% of Gross Profit 5.45% 4.46% 5.26%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $59.40M $60.18M $252.0M
YoY Change 0.68% 3.62% 3.73%
% of Gross Profit 21.19% 20.54% 21.67%
Operating Expenses $82.90M $73.25M $305.9M
YoY Change 8.65% -31.45% -11.05%
Operating Profit $197.4M $225.1M $841.8M
YoY Change -1.09% 12.16% 4.02%
Interest Expense -$71.77M $70.43M $283.0M
YoY Change 1.94% 0.36% 0.32%
% of Operating Profit -36.35% 31.29% 33.62%
Other Income/Expense, Net $3.500M -$70.43M -$279.3M
YoY Change -0.72% -6.79%
Pretax Income $136.2M $154.7M $562.4M
YoY Change -20.41% 19.19% 10.37%
Income Tax $16.55M $5.614M $28.34M
% Of Pretax Income 12.15% 3.63% 5.04%
Net Earnings $119.6M $149.1M $534.0M
YoY Change -29.36% 17.25% 5.6%
Net Earnings / Revenue 40.09% 49.9% 43.91%
Basic Earnings Per Share $0.63 $2.27
Diluted Earnings Per Share $495.9K $0.63 $2.26
COMMON SHARES
Basic Shares Outstanding 238.4M shares 235.3M shares 235.5M shares
Diluted Shares Outstanding 236.2M shares 236.2M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $724.6M $423.2M $724.6M
YoY Change 48.94% 299.64% 48.94%
Cash & Equivalents $724.6M $423.2M $724.6M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $724.6M $423.2M $724.6M
YoY Change 48.94% 299.64% 48.94%
LONG-TERM ASSETS
Property, Plant & Equipment $12.98M $40.09M $7.974B
YoY Change -83.9% -55.12% 1.91%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $746.4M $801.8M $746.4M
YoY Change 8.63% 22.7% 8.63%
Total Long-Term Assets $9.966B $8.862B $9.966B
YoY Change 16.59% 3.87% 16.59%
TOTAL ASSETS
Total Short-Term Assets $724.6M $423.2M $724.6M
Total Long-Term Assets $9.966B $8.862B $9.966B
Total Assets $10.69B $9.285B $10.69B
YoY Change 18.33% 7.5% 18.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $779.0K $152.0K $779.0K
YoY Change 94.75% -81.0% 94.75%
Accrued Expenses $325.3M $276.1M $325.3M
YoY Change 41.01% 0.5% 41.01%
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 $331.3M $277.1M $331.3M
YoY Change 43.34% 0.58% 43.34%
LONG-TERM LIABILITIES
Long-Term Debt $6.606B $5.762B $6.606B
YoY Change 14.79% 0.17% 14.79%
Other Long-Term Liabilities $363.4M $367.9M $363.4M
YoY Change -2.64% -7.92% -2.64%
Total Long-Term Liabilities $6.969B $6.130B $6.969B
YoY Change 13.73% -0.36% 13.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $331.3M $277.1M $331.3M
Total Long-Term Liabilities $6.969B $6.130B $6.969B
Total Liabilities $7.300B $6.407B $7.505B
YoY Change 14.8% -0.32% 18.02%
SHAREHOLDERS EQUITY
Retained Earnings -$1.771B -$1.666B
YoY Change 9.88% -5.02%
Common Stock $4.956B $4.544B
YoY Change 15.61% 14.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.185B $2.878B $3.185B
YoY Change
Total Liabilities & Shareholders Equity $10.69B $9.285B $10.69B
YoY Change 18.33% 7.5% 18.33%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2021
OPERATING ACTIVITIES
Net Income $119.6M $149.1M $534.0M
YoY Change -29.36% 17.25% 5.6%
Depreciation, Depletion And Amortization $59.40M $60.18M $252.0M
YoY Change 0.68% 3.62% 3.73%
Cash From Operating Activities $206.3M $220.5M $803.8M
YoY Change 116.22% 172.91% 87.76%
INVESTING ACTIVITIES
Capital Expenditures -$12.93M -$819.0K $13.93M
YoY Change 63.68% 63.8% 2837.97%
Acquisitions
YoY Change
Other Investing Activities -$560.1M $32.81M -$527.2M
YoY Change
Cash From Investing Activities -$573.0M $31.99M -$1.031B
YoY Change 7153.13% -6498.2% 10765.75%
FINANCING ACTIVITIES
Cash Dividend Paid $633.9M
YoY Change 174.99%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $363.4M
YoY Change -82.5%
Cash From Financing Activities 668.1M 23.13M $443.1M
YoY Change 128.02% -147.79% 601.4%
NET CHANGE
Cash From Operating Activities 206.3M 220.5M $803.8M
Cash From Investing Activities -573.0M 31.99M -$1.031B
Cash From Financing Activities 668.1M 23.13M $443.1M
Net Change In Cash 301.4M -$63.23M $238.1M
YoY Change -20.8% -179.96% -48.19%
FREE CASH FLOW
Cash From Operating Activities $206.3M $220.5M $803.8M
Capital Expenditures -$12.93M -$819.0K $13.93M
Free Cash Flow $219.2M $221.3M $789.9M
YoY Change 112.2% 172.24% 84.72%

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CY2021 us-gaap Nature Of Operations
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Business and Basis of Presentation<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Gaming and Leisure Properties, Inc. ("GLPI") is a self-administered and self-managed Pennsylvania real estate investment trust ("REIT"). GLPI (together with its subsidiaries, the "Company") was incorporated on February 13, 2013, as a wholly-owned subsidiary of Penn National Gaming, Inc. (NASDAQ: PENN) ("Penn"). On November 1, 2013, Penn contributed to GLPI, through a series of internal corporate restructurings, substantially all of the assets and liabilities associated with Penn’s real property interests and real estate development business, as well as the assets and liabilities of Hollywood Casino Baton Rouge and Hollywood Casino Perryville (which are referred to as the "TRS Properties") and then spun-off GLPI to holders of Penn's common and preferred stock in a tax-free distribution (the "Spin-Off"). The assets and liabilities of GLPI were recorded at their respective historical carrying values at the time of the Spin-Off in accordance with the provisions of Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 505-60 - </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Spinoffs and Reverse Spinoffs ("</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ASC 505"</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">).</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Company elected on its United States ("U.S.") federal income tax return for its taxable year that began on January 1, 2014 to be treated as a REIT and GLPI, together with its indirect wholly-owned subsidiary, GLP Holdings, Inc., jointly elected to treat each of GLP Holdings, Inc., Louisiana Casino Cruises, Inc. (d/b/a Hollywood Casino Baton Rouge) and Penn Cecil Maryland, Inc. (d/b/a Hollywood Casino Perryville) as a "taxable REIT subsidiary" ("TRS") effective on the first day of the first taxable year of GLPI as a REIT. In addition, during 2020, the Company and Tropicana LV, LLC, a wholly owned subsidiary of the Company which holds the real estate of Tropicana Las Vegas Casino Hotel Resort ("Tropicana Las Vegas"), elected to treat Tropicana LV, LLC as a TRS, which together with the TRS Properties and GLP Holdings, Inc. is the Company's TRS segment (the "TRS Segment"). Finally in advance of our UPREIT transaction (as defined below), the Company elected GLP Financing II, Inc. to be treated as a TRS effective December 23, 2021. In connection with the Spin-Off, Penn allocated its accumulated earnings and profits (as determined for U.S. federal income tax purposes) for periods prior to the consummation of the Spin-Off between Penn and GLPI. In connection with its election to be taxed as a REIT for U.S. federal income tax purposes, GLPI declared a special dividend to its shareholders to distribute any accumulated earnings and profits relating to the real property assets and attributable to any pre-REIT years, including any earnings and profits allocated to GLPI in connection with the Spin-Off, to comply with certain REIT qualification requirements. On July 1, 2021, the Company sold the operations of Hollywood Casino Perryville to Penn and is leasing the real estate to Penn pursuant to a standalone lease. On December 17, 2021, the Company sold the operations of Hollywood Casino Baton Rouge to Casino Queen and is leasing the real estate to Casino Queen pursuant to the Casino Queen Master Lease as described below. On December 17, 2021, GLPI declared a special dividend to the Company's shareholders to distribute the accumulated earnings and profits attributable to these sales. See Note 6 for additional information.</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">GLPI’s primary business consists of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. As of December 31, 2021, GLPI’s portfolio consisted of interests in 51 gaming and related facilities, including approximately 35 acres of real estate at Tropicana Las Vegas, the real property associated with 34 gaming and related facilities operated by Penn, the real property associated with 7 gaming and related facilities operated by Caesars Entertainment Corporation (NASDAQ: CZR) ("Caesars"), the real property associated with 4 gaming and related facilities operated by Boyd Gaming Corporation (NYSE: BYD) ("Boyd"), the real property associated with 2 gaming and related facilities operated by Bally's Corporation (NYSE: BALY) ("Bally's) the real property associated with gaming and related facilities at Live! Casino &amp; Hotel Maryland operated by The Cordish Companies ("Cordish") and the real property associated with 2 gaming and related facilities operated by Casino Queen Holding Company ("Casino Queen"). These facilities, including our corporate headquarters building, are geographically diversified across 17 states and contain approximately 27.6 million square feet. As of December 31, 2021, the Company's properties were 100% occupied. GLPI expects to continue growing its portfolio by pursuing opportunities to acquire additional gaming facilities to lease to gaming operators under prudent terms.</span></div><div style="margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Penn Master Lease </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of the Spin-Off, GLPI owns substantially all of Penn's former real property assets (as of the consummation of the Spin-Off) and leases back most of those assets to Penn for use by its subsidiaries pursuant to a unitary master lease (the "Penn Master Lease"). The Penn Master Lease is a triple-net operating lease, the term of which expires October 31, 2033, with no purchase option, followed by three remaining 5-year renewal options (exercisable by the tenant) on the same terms and conditions. </span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Amended Pinnacle Master Lease, Boyd Master Lease and Belterra Park Lease</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In April 2016, the Company acquired substantially all of the real estate assets of Pinnacle Entertainment, Inc. ("Pinnacle") for approximately $4.8 billion. GLPI originally leased these assets back to Pinnacle, under a unitary triple-net lease, the term of which expires April 30, 2031, with no purchase option, followed by four remaining 5-year renewal options (exercisable by the tenant) on the same terms and conditions (the "Pinnacle Master Lease"). On October 15, 2018, the Company completed its previously announced transactions with Penn, Pinnacle and Boyd to accommodate Penn's acquisition of the majority of Pinnacle's operations, pursuant to a definitive agreement and plan of merger between Penn and Pinnacle, dated December 17, 2017 (the "Penn-Pinnacle Merger"). Concurrent with the Penn-Pinnacle Merger, the Company amended the Pinnacle Master Lease to allow for the sale of the operating assets of Ameristar Casino Hotel Kansas City, Ameristar Casino Resort Spa St. Charles and Belterra Casino Resort from Pinnacle to Boyd (the "Amended Pinnacle Master Lease") and entered into a new unitary triple-net master lease agreement with Boyd (the "Boyd Master Lease") for these properties on terms similar to the Company’s Amended Pinnacle Master Lease. The Boyd Master Lease has an initial term of 10 years (from the original April 2016 commencement date of the Pinnacle Master Lease and expiring April 30, 2026), with no purchase option, followed by five 5-year renewal options (exercisable by the tenant) on the same terms and conditions. The Company also purchased the real estate assets of Plainridge Park Casino ("Plainridge Park") from Penn for $250.0 million, exclusive of transaction fees and taxes and added this property to the Amended Pinnacle Master Lease. The Amended Pinnacle Master Lease was assumed by Penn at the consummation of the Penn-Pinnacle Merger. The Company also entered into a mortgage loan agreement with Boyd in connection with Boyd's acquisition of Belterra Park Gaming &amp; Entertainment Center ("Belterra Park"), whereby the Company loaned Boyd $57.7 million (the "Belterra Park Loan"). In May 2020, the Company acquired the real estate of Belterra Park in satisfaction of the Belterra Park Loan, subject to a long-term lease (the "Belterra Park Lease") with a Boyd affiliate operating the property.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:115%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Belterra Park Lease rent terms are consistent with the Boyd Master Lease. The annual rent is comprised of a fixed component, part of which is subject to an annual escalator of up to 2% if certain rent coverage ratio thresholds are met, and a component that is based on the performance of the facilities which is adjusted, subject to certain floors, every two years to an amount equal to 4% of the average annual net revenues of Belterra Park during the preceding two years in excess of a contractual baseline. </span></div><div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Meadows Lease</span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The real estate assets of the Meadows Racetrack and Casino are leased to Penn pursuant to a single property triple-net lease (the "Meadows Lease"). The Meadows Lease commenced on September 9, 2016 and has an initial term of 10 years, with no purchase option, and the option to renew for three successive 5-year terms and one 4-year term (exercisable by the tenant) on the same terms and conditions. The Meadows Lease contains a fixed component, subject to annual escalators, and a component that is based on the performance of the facility, which is reset every two years to an amount determined by multiplying (i)4% by (ii) the average annual net revenues of the facility for the trailing two-year period. The Meadows Lease contains an annual escalator provision for up to5%of the base rent, if certain rent coverage ratio thresholds are met, which remains at 5% until the earlier of ten years or the year in which total rent is $31 million, at which point the escalator will be reduced to a maximum of 2% annually thereafter. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Amended and Restated Caesars Master Lease</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On October 1, 2018, the Company closed its previously announced transaction to acquire certain real property assets from Tropicana Entertainment Inc. ("Tropicana") and certain of its affiliates pursuant to a Purchase and Sale Agreement dated April 15, 2018 between Tropicana and GLP Capital L.P. ("GLP Capital"), the operating partnership of GLPI, which was subsequently amended on October 1, 2018 (as amended, the "Amended Real Estate Purchase Agreement"). Pursuant to the terms of the Amended Real Estate Purchase Agreement, the Company acquired the real estate assets of Tropicana Atlantic City, Tropicana Evansville, Tropicana Laughlin, Trop Casino Greenville and the Belle of Baton Rouge (the "GLP Assets") from Tropicana for an aggregate cash purchase price of $964.0 million, exclusive of transaction fees and taxes (the "Tropicana Acquisition"). Concurrent with the Tropicana Acquisition, Eldorado Resorts, Inc. (now doing business as Caesars) acquired the operating assets of these properties from Tropicana pursuant to an Agreement and Plan of Merger dated April 15, 2018 by and among Tropicana, GLP Capital, Caesars and a wholly-owned subsidiary of Caesars and leased the GLP Assets from the Company pursuant to the terms of a new unitary triple-net master lease with an initial term of 15 years, with no purchase option, followed by four successive 5-year renewal periods (exercisable by the tenant) on the same terms and conditions (the "Caesars Master Lease"). </span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On June 15, 2020, the Company amended and restated the Caesars Master Lease (as amended, the "Amended and Restated Caesars Master Lease") to, (i) extend the initial term of 15 years to 20 years, with renewals of up to an additional 20 years at the option of Caesars, (ii) remove the variable rent component in its entirety commencing with the third lease year, (iii) in the third lease year, increase annual land base rent to approximately $23.6 million and annual building base rent to approximately $62.1 million, (iv) provide fixed escalation percentages that delay the escalation of building base rent until the commencement of the fifth lease year with building base rent increasing annually by 1.25% in the fifth and sixth lease year, 1.75% in the seventh and eighth lease years and 2% in the ninth lease year and each lease year thereafter, (v) subject to the </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">satisfaction of certain conditions, permit Caesars to elect to replace the Tropicana Evansville and/or Tropicana Greenville properties under the Amended and Restated Caesars Master Lease with one or more of Caesars Gaming Scioto Downs, The Row in Reno, Isle Casino Racing Pompano Park, Isle Casino Hotel – Black Hawk, Lady Luck Casino – Black Hawk, Isle Casino Waterloo ("Waterloo"), Isle Casino Bettendorf ("Bettendorf") or Isle of Capri Casino Boonville, provided that the aggregate value of such new property, individually or collectively, is at least equal to the value of Tropicana Evansville or Tropicana Greenville, as applicable, (vi) permit Caesars to elect to sell its interest in Belle of Baton Rouge and sever it from the Amended and Restated Caesars Master Lease (with no change to the rent obligation to the Company), subject to the satisfaction of certain conditions, and (vii) provide certain relief under the operating, capital expenditure and financial covenants thereunder in the event of facility closures due to pandemics, governmental restrictions and certain other instances of unavoidable delay. The effectiveness of the Amended and Restated Caesars Master Lease was subject to the review and approval of certain gaming regulatory agencies and the expiration of applicable gaming regulatory advance notice periods which conditions were satisfied on July 23, 2020. On December 18, 2020, the Company and Caesars completed an Exchange Agreement (the "Exchange Agreement") with subsidiaries of Caesars in which Caesars transferred to the Company the real estate assets of Waterloo and Bettendorf in exchange for the transfer by the Company to Caesars of the real property assets of Tropicana Evansville, plus a cash payment of $5.7 million. This resulted in a non-cash gain of $41.4 million in the fourth quarter of 2020, which represented the difference between the fair value of the properties received compared to the carrying value of Tropicana Evansville and the cash payment made.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:7.8pt;font-weight:400;line-height:115%;position:relative;top:-4.2pt;vertical-align:baseline"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> In connection with the Exchange Agreement, the annual building base rent was increased to $62.5 million and the annual land component was increased to $23.7 million. </span></div><div style="text-align:justify;text-indent:24.75pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">Lumière Place Lease</span></div><div style="text-align:justify;text-indent:24.75pt"><span><br/></span></div><div style="text-align:justify;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On October 1, 2018 the Company entered into a loan agreement with Caesars in connection with Caesars’s acquisition of Lumière Place Casino ("Lumière Place"), whereby the Company loaned Caesars $246.0 million (the "CZR loan"). The CZR loan bore interest at a rate equal to (i) 9.09% until October 1, 2019 and (ii) 9.27% until its maturity. On the one-year anniversary of the CZR loan, the mortgage evidenced by a deed of trust on the Lumière Place property terminated and the loan became unsecured. On June 24, 2020, the Company received approval from the Missouri Gaming Commission to own the Lumière Place property in satisfaction of the CZR loan.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:115%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On September 29, 2020, the transaction closed and we entered into a new triple net lease with Caesars (the "Lumière Place Lease") the initial term of which expires on October 31, 2033 with four separate renewal options of five years each, exercisable at the tenant's option.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:115%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The Lumière Place Lease rent terms were adjusted on December 1, 2021 such that the annual escalator is now fixed at 1.25% for the second through fifth lease years, increasing to 1.75% for the sixth and seventh lease years and thereafter increasing by 2.0% for the remainder of the lease. </span></div><div style="text-align:justify;text-indent:24.75pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:103%">Bally's Master Lease</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 3, 2021, the Company completed its previously announced transaction pursuant to which a subsidiary of Bally's acquired 100% of the equity interests in the Caesars subsidiary that currently operates Tropicana Evansville and the Company reacquired the real property assets of Tropicana Evansville from Caesars for a cash purchase price of approximately $340.0 million. In addition, the Company purchased the real estate assets of Dover Downs Hotel &amp; Casino from Bally's for a cash purchase price of approximately $144.0 million. The real estate assets of these two facilities were added to a new triple net master lease (the "Bally's Master Lease") which has an initial term of 15 years, with no purchase option, followed by four <span style="-sec-ix-hidden:id3VybDovL2RvY3MudjEvZG9jOmRlMzc2Mjk5ZjQ4MDRjNTRiNzliMDdjNWJhNmM0ODBkL3NlYzpkZTM3NjI5OWY0ODA0YzU0Yjc5YjA3YzViYTZjNDgwZF83Ni9mcmFnOjE1MDE1YmU1ODJkZDQ4NmQ4YTgwZGFkOTgyMzQwYmQ5L3RleHRyZWdpb246MTUwMTViZTU4MmRkNDg2ZDhhODBkYWQ5ODIzNDBiZDlfMTA5OTUxMTY1NTk4MA_f109cac5-9b33-417e-8b3e-4ec4def37d6d">five</span>-year renewal options (exercisable by the tenant) on the same terms and conditions. </span></div><div style="text-align:justify;text-indent:24.75pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:103%">Tropicana Las Vegas</span></div><div style="margin-top:8pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 16, 2020, the Company and certain of its subsidiaries closed on its previously announced transaction to acquire the real property associated with the Tropicana Las Vegas from Penn in exchange for rent credits of $307.5 million, which were applied against future rent obligations due under the parties' existing leases during 2020. An affiliate of Penn continues to operate the casino and hotel business of the Tropicana Las Vegas pursuant to a triple net lease with GLPI for nominal rent for the earlier of two years (subject to three one-year extensions at the Company's option) or until the Tropicana Las Vegas is sold. See Note 6 for the anticipated sale of the building and sale-lease back of the land for this asset.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Morgantown Lease</span></div><div style="text-align:justify;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 1, 2020, the Company and Penn closed on their previously announced transaction whereby GLPI acquired the land under Penn's gaming facility under construction in Morgantown, Pennsylvania in exchange for $30.0 million in rent credits that were fully utilized by Penn in the fourth quarter of 2020.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is leasing the land back to an affiliate of Penn for an initial term of 20 years, followed by six 5-year renewal options exercisable by the tenant (the "Morgantown Lease").</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:103%">Casino Queen Master Lease</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 25, 2020, the Company entered into a definitive agreement to sell the operations of our Hollywood Casino Baton Rouge to Casino Queen for $28.2 million (the "HCBR transaction"). The HCBR transaction closed on December 17, 2021 which resulted in a pre-tax gain of $6.8 million ( loss of $7.7 million after tax) for the year ended December 31, 2021. The Company retained ownership of all real estate assets at Hollywood Casino Baton Rouge and simultaneously entered into a triple net master lease with Casino Queen, which includes the Casino Queen property in East St. Louis that is currently leased by the Company to Casino Queen and the Hollywood Casino Baton Rouge facility ("Casino Queen Master Lease"). The initial annual cash rent is approximately $21.4 million and the lease has an initial term of 15 years with four 5 year renewal options exercisable by the tenant. This rental amount will be increased annually by 0.5% for the first six years. Beginning with the seventh lease year through the remainder of the lease term, if the Consumer Price Index ("CPI") increases by at least 0.25% for any lease year then annual rent shall be increased by 1.25%, and if the CPI increase is less than 0.25% then rent will remain unchanged for such lease year. Additionally, the Company will complete the current landside development project that is in process and the rent under the Casino Queen Master Lease will be adjusted upon delivery to reflect a yield of 8.25% on GLPI's project costs. The Company will also have a right of first refusal with Casino Queen for other sale leaseback transactions up to $50 million over the next 2 years. Finally, in 2021, GLPI forgave the unsecured $13.0 million, 5.5 year term loan made to CQ Holding Company, Inc., an affiliate of Casino Queen, which has been previously impaired in return for a one-time cash payment of $4 million which was recorded in provision for credit losses, net during the year ended December 31, 2021. </span></div><div style="text-align:justify;text-indent:24.75pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Perryville Lease</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 15, 2020, the Company announced that Penn exercised its option to purchase from the Company the operations of our Hollywood Casino Perryville, located in Perryville, Maryland, for $31.1 million. The transaction closed on July 1, 2021 and the real estate assets of the Hollywood Casino Perryville are being leased to Penn on a triple net basis</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(the "Perryville Lease").</span></div><div style="text-align:justify;text-indent:36pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Maryland Live! Lease and Pennsylvania Live! Lease</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 6, 2021, the Company announced that it had agreed to acquire the real property assets of Live! Casino &amp; Hotel Maryland, Live! Casino &amp; Hotel Philadelphia, and Live! Casino Pittsburgh, including applicable long-term ground leases, from affiliates of Cordish for aggregate consideration of approximately $1.81 billion at deal announcement. The transaction also includes a binding partnership on future Cordish casino developments, as well as potential financing partnerships between the Company and Cordish in other areas of Cordish's portfolio of real estate and operating businesses. GLPI will enter into a new triple net lease master lease with Cordish for Live! Casino &amp; Hotel Philadelphia and Live! Casino Pittsburgh (the "Pennsylvania Live! Master Lease"), and GLPI entered into a single asset lease for Live! Casino &amp; Hotel Maryland (the "Maryland Live! Lease"). On December 29, 2021, the Company completed its acquisition of the real property assets of Live! Casino &amp; Hotel Maryland and entered into the Maryland Live! Lease which has an initial lease terms of 39 years, with a maximum term of 60 years inclusive of tenant renewal options. The annual rent for the Maryland Live! Lease is $75 million and for the Pennsylvania Live! Master Lease will be $50 million both of which have or will have a 1.75% fixed yearly escalator on the entirety of rent commencing on the leases' second anniversary. The Pennsylvania transactions are expected to close in early 2022, subject to the receipt of regulatory approvals and other customary closing conditions. </span></div><div style="text-align:justify;text-indent:24.75pt"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">COVID-19</span></div>In the first quarter of 2020, there was a global outbreak of a new strain of novel coronavirus COVID-19. The global, domestic and local response to the COVID-19 outbreak continues to evolve. Responses to the COVID-19 outbreak included mandates from federal, state, and/or local authorities that required temporary closures of, or imposed limitations on, the operations of non-essential businesses. All of the Company's tenants' casino operations, in addition to the Company's two TRS Properties, were closed in mid-March 2020. Our properties began reopening at limited capacity in May 2020 and by early July 2020 nearly all had resumed operations at limited capacity. However, in the fourth quarter of 2020, increased spread of COVID-19 led some jurisdictions to impose temporary closures once again. As of the date of this filing, none of our properties are closed and all of our tenants are current on their obligations.
CY2021Q4 glpi Number Of Facilities Whose Real Estate Property Is Included In Entity Portfolio
NumberOfFacilitiesWhoseRealEstatePropertyIsIncludedInEntityPortfolio
51 property
CY2021Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
17 state
CY2021Q4 us-gaap Area Of Real Estate Property
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27600000 sqft
CY2021Q4 glpi Realestateoccupancypercentage
Realestateoccupancypercentage
1
CY2019 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 USD
CY2020 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 USD
CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0 USD
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REITTaxableIncomeDistributionRequirement
0.90
CY2021 us-gaap Number Of Reportable Segments
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2 segment
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentration of Credit Risk</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-indent:31.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 December 31, 2021, substantially all of the Company's real estate properties were leased to Penn, Caesars and Boyd. During the year ended December 31, 2021, approximately 75%, 11% and 10% of the Company's collective income from real estate was derived from tenant leases with Penn, Caesars and Boyd, respectively. Revenues from our tenants are reported in the Company's GLP Capital, L.P. reportable segment. Penn, Caesars 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 10-K and Form 10-Q and current reports on Form 8-K with the Securities and Exchange Commission ("SEC"). Readers are directed to Penn, Caesars 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 December 31, 2021, the Company's portfolio of 51 properties is diversified by location across 17 states.</span></div>Financial instruments that subject the Company to credit risk consist of cash and cash equivalents, accounts receivable, real estate loans and other loans receivable. 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
CY2021Q4 glpi Number Of Facilities Whose Real Estate Property Is Included In Entity Portfolio
NumberOfFacilitiesWhoseRealEstatePropertyIsIncludedInEntityPortfolio
51 property
CY2021Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
17 state
CY2021Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
50 property
CY2021Q4 us-gaap Construction In Progress Gross
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5699000 USD
CY2020Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
0 USD
CY2021Q4 us-gaap Real Estate Investment Property At Cost
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9458918000 USD
CY2020Q4 us-gaap Real Estate Investment Property At Cost
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8698098000 USD
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1681367000 USD
CY2020Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1410940000 USD
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7777551000 USD
CY2020Q4 us-gaap Real Estate Investment Property Net
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7287158000 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
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28832000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
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177114000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
15855000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
96496000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
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12977000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
80618000 USD
CY2021Q4 us-gaap Real Estate Heldforsale
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77728000 USD
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0 USD
CY2021Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Next Twelve Months
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77200000 USD
CY2021Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
77222000 USD
CY2021Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
77244000 USD
CY2021Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
78579000 USD
CY2021Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Five Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFiveYears
79937000 USD
CY2021Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Thereafter
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThereafter
3622755000 USD
CY2021Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
4012937000 USD
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1500000 USD
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4000000 USD
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OperatingLeaseRightOfUseAsset
851819000 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
769197000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
13561000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
13556000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13505000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
13452000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
13459000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
610693000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
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678226000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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494281000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
183945000 USD
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OperatingLeaseCost
12959000 USD
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
13907000 USD
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9075000 USD
CY2021Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
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1174600000 USD
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
3364000 USD
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
947000 USD
CY2020 us-gaap Short Term Lease Cost
ShortTermLeaseCost
625000 USD
CY2021 us-gaap Lease Cost
LeaseCost
38597000 USD
CY2020 us-gaap Lease Cost
LeaseCost
29918000 USD
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P51Y9M14D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.066
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
1617000 USD
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
1600000 USD
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
35372000 USD
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
95000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
2200000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
2222000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
2244000 USD
CY2021 glpi Numberof Subsidiary Note Issuers
NumberofSubsidiaryNoteIssuers
2 subsidiary
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
2267000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
2289000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
304371000 USD
CY2021Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
315593000 USD
CY2021Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
262284000 USD
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
53309000 USD
CY2021Q4 glpi Long Term Debt Grossand Lease Obligations
LongTermDebtGrossandLeaseObligations
6599744000 USD
CY2020Q4 glpi Long Term Debt Grossand Lease Obligations
LongTermDebtGrossandLeaseObligations
5799879000 USD
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
47372000 USD
CY2020Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
45190000 USD
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
6552372000 USD
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
5754689000 USD
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Repayments Of Principal In Next Twelve Months
LongTermDebtAndCapitalLeaseObligationsRepaymentsOfPrincipalInNextTwelveMonths
142000 USD
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Two
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearTwo
924168000 USD
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Three
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearThree
400156000 USD
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Four
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFour
850164000 USD
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Five
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFive
975114000 USD
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal After Year Five
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalAfterYearFive
3450000000 USD
CY2021Q4 glpi Long Term Debt Grossand Lease Obligations
LongTermDebtGrossandLeaseObligations
6599744000 USD
CY2021Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
400000 USD
CY2021 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.50
CY2019 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
300000 USD
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
300000 USD
CY2020 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
300000 USD
CY2021 glpi Deferred Compensation Arrangement Employer Contribution Vesting Period
DeferredCompensationArrangementEmployerContributionVestingPeriod
P5Y
CY2021 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
500000 USD
CY2020 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
700000 USD
CY2019 us-gaap Deferred Compensation Arrangement With Individual Contributions By Employer
DeferredCompensationArrangementWithIndividualContributionsByEmployer
600000 USD
CY2021Q4 us-gaap Deferred Compensation Liability Current
DeferredCompensationLiabilityCurrent
33800000 USD
CY2020Q4 us-gaap Deferred Compensation Liability Current
DeferredCompensationLiabilityCurrent
32400000 USD
CY2021Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
34500000 USD
CY2020Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
35500000 USD
CY2021Q4 glpi Number Of Miles
NumberOfMiles
60 mi
CY2021 glpi Operating Lease Cash Rent Received
OperatingLeaseCashRentReceived
1083871000 USD
CY2021 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
-3993000 USD
CY2021 glpi Operating Lease Ground Lease Income
OperatingLeaseGroundLeaseIncome
18587000 USD
CY2021 glpi Operating Lease Other Rental Revenue
OperatingLeaseOtherRentalRevenue
207000 USD
CY2021 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
1106658000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
1055300000 USD
CY2021Q4 glpi Straight Line Rent Adjustments Current
StraightLineRentAdjustmentsCurrent
24905000 USD
CY2021Q4 glpi Operating Leases Future Minimum Base Ground Payments Receivable Current
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableCurrent
12311000 USD
CY2021Q4 glpi Operating Leases Future Incometo Be Recognized Current
OperatingLeasesFutureIncometoBeRecognizedCurrent
1092516000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
1030381000 USD
CY2021Q4 glpi Straight Line Rent Adjustmentsin Two Years
StraightLineRentAdjustmentsinTwoYears
33169000 USD
CY2021Q4 glpi Operating Leases Future Minimum Base Ground Payments Receivable In Two Years
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableInTwoYears
12313000 USD
CY2021Q4 glpi Operating Leases Future Incometo Be Recognizedin Two Years
OperatingLeasesFutureIncometoBeRecognizedinTwoYears
1075863000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
998598000 USD
CY2021Q4 glpi Straight Line Rent Adjustmentsin Three Years
StraightLineRentAdjustmentsinThreeYears
31805000 USD
CY2021Q4 glpi Operating Leases Future Minimum Base Ground Payments Receivable In Three Years
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableInThreeYears
12315000 USD
CY2021Q4 glpi Operating Leases Future Incometo Be Recognizedin Three Years
OperatingLeasesFutureIncometoBeRecognizedinThreeYears
1042718000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
1000443000 USD
CY2021Q4 glpi Straight Line Rent Adjustmentsin Four Years
StraightLineRentAdjustmentsinFourYears
30199000 USD
CY2021Q4 glpi Operating Leases Future Minimum Base Ground Payments Receivable In Four Years
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableInFourYears
12318000 USD
CY2021Q4 glpi Operating Leases Future Incometo Be Recognizedin Four Years
OperatingLeasesFutureIncometoBeRecognizedinFourYears
1042960000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
935217000 USD
CY2021Q4 glpi Straight Line Rent Adjustmentsin Five Years
StraightLineRentAdjustmentsinFiveYears
24755000 USD
CY2021Q4 glpi Operating Leases Future Minimum Base Ground Payments Receivable In Five Years
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableInFiveYears
11252000 USD
CY2021Q4 glpi Operating Leases Future Incometo Be Recognizedin Five Years
OperatingLeasesFutureIncometoBeRecognizedinFiveYears
971224000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
12192059000 USD
CY2021Q4 glpi Straight Line Rent Adjustments Thereafter
StraightLineRentAdjustmentsThereafter
184235000 USD
CY2021Q4 glpi Operating Leases Future Minimum Base Ground Payments Receivable Thereafter
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivableThereafter
87296000 USD
CY2021Q4 glpi Operating Leases Future Incometo Be Recognized Thereafter
OperatingLeasesFutureIncometoBeRecognizedThereafter
12463590000 USD
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
17211998000 USD
CY2021Q4 glpi Straight Line Rent Adjustments Net
StraightLineRentAdjustmentsNet
329068000 USD
CY2021Q4 glpi Operating Leases Future Minimum Base Ground Payments Receivable
OperatingLeasesFutureMinimumBaseGroundPaymentsReceivable
147805000 USD
CY2021Q4 glpi Operating Leases Future Incometo Be Recognized
OperatingLeasesFutureIncometoBeRecognized
17688871000 USD
CY2020 us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
19100000 USD
CY2019 us-gaap Interest And Fee Income Loans Commercial Real Estate
InterestAndFeeIncomeLoansCommercialRealEstate
28900000 USD
CY2021 us-gaap Insurance Recoveries
InsuranceRecoveries
3500000 USD
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
3397430 shares
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
0 USD
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
1508000 USD
CY2021Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
0 USD
CY2020Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
6443000 USD
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1560000 USD
CY2020Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1170000 USD
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
438000 USD
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
310000 USD
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1998000 USD
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
9431000 USD
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1758000 USD
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1731000 USD
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
240000 USD
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
7700000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
240000 USD
CY2020Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
556000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
0 USD
CY2020Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
1813000 USD
CY2021Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
240000 USD
CY2020Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
2369000 USD
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 USD
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
5331000 USD
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1800000 USD
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1700000 USD
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
16363000 USD
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1111000 USD
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
3005000 USD
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
6653000 USD
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2315000 USD
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
2514000 USD
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
23016000 USD
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
3426000 USD
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
5519000 USD
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
3534000 USD
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
467000 USD
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-667000 USD
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
1792000 USD
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-16000 USD
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-88000 USD
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
5326000 USD
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
451000 USD
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-755000 USD
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
28342000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3877000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4764000 USD
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
EffectiveIncomeTaxRateReconciliationDispositionOfBusiness
0.023
CY2020 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
EffectiveIncomeTaxRateReconciliationDispositionOfBusiness
0
CY2019 us-gaap Effective Income Tax Rate Reconciliation Disposition Of Business
EffectiveIncomeTaxRateReconciliationDispositionOfBusiness
0
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.007
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.004
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.005
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.003
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.003
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0
CY2021 glpi Effective Income Tax Rate Reconciliation Reit Conversion Benefit
EffectiveIncomeTaxRateReconciliationREITConversionBenefit
0.193
CY2020 glpi Effective Income Tax Rate Reconciliation Reit Conversion Benefit
EffectiveIncomeTaxRateReconciliationREITConversionBenefit
0.210
CY2019 glpi Effective Income Tax Rate Reconciliation Reit Conversion Benefit
EffectiveIncomeTaxRateReconciliationREITConversionBenefit
0.203
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses
0
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses
0
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseImpairmentLosses
0
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.001
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.050
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.008
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.012
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
118110000 USD
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
107013000 USD
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
83086000 USD
CY2021 us-gaap Income Tax Reconciliation Disposition Of Business
IncomeTaxReconciliationDispositionOfBusiness
13036000 USD
CY2020 us-gaap Income Tax Reconciliation Disposition Of Business
IncomeTaxReconciliationDispositionOfBusiness
0 USD
CY2019 us-gaap Income Tax Reconciliation Disposition Of Business
IncomeTaxReconciliationDispositionOfBusiness
0 USD
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
3763000 USD
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
1955000 USD
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
2051000 USD
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1758000 USD
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1731000 USD
CY2019 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0 USD
CY2021 glpi Effective Income Tax Reconciliation Reit Conversion Benefit
EffectiveIncomeTaxReconciliationREITConversionBenefit
108315000 USD
CY2020 glpi Effective Income Tax Reconciliation Reit Conversion Benefit
EffectiveIncomeTaxReconciliationREITConversionBenefit
106839000 USD
CY2019 glpi Effective Income Tax Reconciliation Reit Conversion Benefit
EffectiveIncomeTaxReconciliationREITConversionBenefit
80397000 USD
CY2021 glpi Effective Income Tax Rate Reconciliation Permanent Differences Amount
EffectiveIncomeTaxRateReconciliationPermanentDifferencesAmount
11000 USD
CY2020 glpi Effective Income Tax Rate Reconciliation Permanent Differences Amount
EffectiveIncomeTaxRateReconciliationPermanentDifferencesAmount
16000 USD
CY2019 glpi Effective Income Tax Rate Reconciliation Permanent Differences Amount
EffectiveIncomeTaxRateReconciliationPermanentDifferencesAmount
23000 USD
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-21000 USD
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
1000 USD
CY2019 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
1000 USD
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
28342000 USD
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3877000 USD
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4764000 USD
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
235472000 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
218817000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
214667000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
236231000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
219773000 shares
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
215786000 shares
CY2021 us-gaap Net Income Loss
NetIncomeLoss
534047000 USD
CY2020 us-gaap Net Income Loss
NetIncomeLoss
505711000 USD
CY2019 us-gaap Net Income Loss
NetIncomeLoss
390881000 USD
CY2021 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
346000 USD
CY2020 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
583000 USD
CY2019 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
576000 USD
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
533701000 USD
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
505128000 USD
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
390305000 USD
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
235472000 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
218817000 shares
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
214667000 shares
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.27
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.31
CY2019 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.82
CY2021 us-gaap Net Income Loss
NetIncomeLoss
534047000 USD
CY2020 us-gaap Profit Loss
ProfitLoss
505711000 USD
CY2019 us-gaap Profit Loss
ProfitLoss
390881000 USD
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
236231000 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
219773000 shares
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
215786000 shares
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.26
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.30
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.81
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
70000 shares
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CY2019 us-gaap Payments To Acquire Property Plant And Equipment
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CY2021Q4 us-gaap Assets
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CY2021Q4 srt Real Estate And Accumulated Depreciation Amount Of Encumbrances
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RealEstateAccumulatedDepreciation
1410940000 USD
CY2019Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1200941000 USD
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RealEstateAccumulatedDepreciation
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SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
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SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
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CY2021 us-gaap Real Estate Accumulated Depreciation Other Additions
RealEstateAccumulatedDepreciationOtherAdditions
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CY2020 us-gaap Real Estate Accumulated Depreciation Other Additions
RealEstateAccumulatedDepreciationOtherAdditions
0 USD
CY2019 us-gaap Real Estate Accumulated Depreciation Other Additions
RealEstateAccumulatedDepreciationOtherAdditions
0 USD
CY2021 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
423000 USD
CY2020 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
10070000 USD
CY2019 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
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CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
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CY2020Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1410940000 USD
CY2019Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1200941000 USD
CY2019Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
57684000 USD
CY2020 srt Mortgage Loans On Real Estate Collections Of Principal
MortgageLoansOnRealEstateCollectionsOfPrincipal
0 USD
CY2020 us-gaap Mortgage Loans On Real Estate Other Deductions
MortgageLoansOnRealEstateOtherDeductions
57684000 USD
CY2020Q4 us-gaap Mortgage Loans On Real Estate
MortgageLoansOnRealEstate
0 USD
CY2021 dei Auditor Firm
AuditorFirmId
34
CY2021 dei Auditor Name
AuditorName
Deloitte & Touche
CY2021 dei Auditor Location
AuditorLocation
New York, New York

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