2024 Q1 Form 10-K Financial Statement

#000109565124000009 Filed on February 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $93.21M $103.0M $352.6M
YoY Change 19.0% 240.27% 123.08%
Cost Of Revenue $1.079M $1.434M $4.653M
YoY Change -10.53% -92.88% -95.93%
Gross Profit $92.13M $101.6M $347.9M
YoY Change 19.46% 902.99% 696.24%
Gross Profit Margin 98.84% 98.61% 98.68%
Selling, General & Admin $15.63M $16.73M $63.77M
YoY Change 51.73% 51.16% 190.24%
% of Gross Profit 16.96% 16.46% 18.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.487M $2.492M $9.936M
YoY Change 3.63% 67.81% 81.65%
% of Gross Profit 2.7% 2.45% 2.86%
Operating Expenses $18.92M $19.63M $79.27M
YoY Change 30.45% -47.35% -2.56%
Operating Profit $24.59M $81.97M -$77.08M
YoY Change 901.96% -401.88% 104.68%
Interest Expense $48.63M -$39.82M $181.0M
YoY Change 18.98% -39.24% 84.61%
% of Operating Profit 197.78% -48.58%
Other Income/Expense, Net $91.00K $17.86M
YoY Change -99.35% 100.4%
Pretax Income $31.50M $42.59M -$52.85M
YoY Change 570.21% -152.69% -73.13%
Income Tax $471.0K $1.139M $1.719M
% Of Pretax Income 1.5% 2.67%
Net Earnings $30.73M $41.18M -$54.97M
YoY Change 556.3% -147.5% -113.05%
Net Earnings / Revenue 32.97% 39.97% -15.59%
Basic Earnings Per Share $0.43 -$0.82
Diluted Earnings Per Share $0.43 $0.58 -$0.82
COMMON SHARES
Basic Shares Outstanding 71.08M 71.07M 66.69M
Diluted Shares Outstanding 71.24M 66.69M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.28M $18.76M $18.76M
YoY Change -43.58% -98.7% -98.7%
Cash & Equivalents $11.28M $18.76M $18.76M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $10.63M $9.711M $9.711M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.683B $1.651B $1.651B
YoY Change 15.83% 14.14% 14.14%
LONG-TERM ASSETS
Property, Plant & Equipment $889.0K $979.0K $3.994B
YoY Change -32.03% -99.7% 1124.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $275.3M $310.3M $310.3M
YoY Change 13.06% -77.19% -77.19%
Other Assets $228.6M $221.4M $221.4M
YoY Change 7.81% 2008.89% 2008.89%
Total Long-Term Assets $4.991B $4.898B $4.898B
YoY Change 3.16% 171.03% 171.03%
TOTAL ASSETS
Total Short-Term Assets $1.683B $1.651B $1.651B
Total Long-Term Assets $4.991B $4.898B $4.898B
Total Assets $6.674B $6.548B $6.548B
YoY Change 6.09% 101.29% 101.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $91.73M $103.8M $103.8M
YoY Change -4.45% -8.99% -8.99%
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 $104.9M $116.9M $116.9M
YoY Change -4.66% 2.45% 2.45%
LONG-TERM LIABILITIES
Long-Term Debt $4.143B $4.054B $4.054B
YoY Change 6.17% 140.97% 140.97%
Other Long-Term Liabilities $77.26M $81.38M $81.38M
YoY Change -3.43% 173.94% 173.94%
Total Long-Term Liabilities $4.220B $4.136B $4.136B
YoY Change 5.98% 141.54% 141.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $104.9M $116.9M $116.9M
Total Long-Term Liabilities $4.220B $4.136B $4.136B
Total Liabilities $4.325B $4.253B $4.317B
YoY Change 5.68% 132.85% 134.02%
SHAREHOLDERS EQUITY
Retained Earnings $65.63M $47.58M
YoY Change -54.48% -102.32%
Common Stock $714.0K $711.0K
YoY Change 11.74% 717.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.283B $2.231B $2.231B
YoY Change
Total Liabilities & Shareholders Equity $6.674B $6.548B $6.548B
YoY Change 6.09% 101.29% 101.29%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $30.73M $41.18M -$54.97M
YoY Change 556.3% -147.5% -113.05%
Depreciation, Depletion And Amortization $2.487M $2.492M $9.936M
YoY Change 3.63% 67.81% 81.65%
Cash From Operating Activities -$3.064M $23.06M $15.39M
YoY Change -55.03% -28.59% -67.71%
INVESTING ACTIVITIES
Capital Expenditures $2.261M $13.08M
YoY Change -76.23% -79.35%
Acquisitions
YoY Change
Other Investing Activities -$3.650M -$124.4M $1.043M
YoY Change 1354.18% -237.12% -111.18%
Cash From Investing Activities -$74.70M -$126.6M -$576.6M
YoY Change -72.33% -255.98% -120.68%
FINANCING ACTIVITIES
Cash Dividend Paid $12.57M $46.04M
YoY Change -43.23% 9.13%
Common Stock Issuance & Retirement, Net $151.9M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 70.20M 110.8M 559.5M
YoY Change -74.62% -1978.95% -131.42%
NET CHANGE
Cash From Operating Activities -3.064M 23.06M 15.39M
Cash From Investing Activities -74.70M -126.6M -576.6M
Cash From Financing Activities 70.20M 110.8M 559.5M
Net Change In Cash -7.565M 7.279M -1.650M
YoY Change 7390.1% -93.23% -100.16%
FREE CASH FLOW
Cash From Operating Activities -$3.064M $23.06M $15.39M
Capital Expenditures $2.261M $13.08M
Free Cash Flow $20.80M $2.313M
YoY Change -8.69% -114.77%

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CY2022Q4 us-gaap Sales Type Lease Net Investment In Lease After Allowance For Credit Loss
SalesTypeLeaseNetInvestmentInLeaseAfterAllowanceForCreditLoss
3106599000
CY2022Q4 safe Ground Lease Receivable Net
GroundLeaseReceivableNet
1374716000
CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable
SalesTypeAndDirectFinancingLeasesLeaseReceivable
4481315000
CY2023 safe Ground Lease Receivables Sales
GroundLeaseReceivablesSales
3756000
CY2023 safe Sales Of Lease And Lease Receivables During Period
SalesOfLeaseAndLeaseReceivablesDuringPeriod
3756000
CY2023 us-gaap Sales Type Lease Net Investment In Lease Purchase
SalesTypeLeaseNetInvestmentInLeasePurchase
91148000
CY2023 safe Ground Lease Acquisition
GroundLeaseAcquisition
225840000
CY2023 safe Origination And Acquisition Of Leaseand Lease Receivables During Period
OriginationAndAcquisitionOfLeaseandLeaseReceivablesDuringPeriod
316988000
CY2023 safe Salestype Lease Net Investmentin Lease Non Cash Interest Income
SalestypeLeaseNetInvestmentinLeaseNonCashInterestIncome
57913000
CY2023 safe Ground Lease Non Cash Interest Income
GroundLeaseNonCashInterestIncome
25867000
CY2023 safe Noncash Accretion Amortizationof Interest Incomeon Leasesand Leases Receivable During Period
NoncashAccretionAmortizationofInterestIncomeonLeasesandLeasesReceivableDuringPeriod
83780000
CY2023 us-gaap Sales Type Lease Net Investment In Lease Allowance For Credit Loss Recovery
SalesTypeLeaseNetInvestmentInLeaseAllowanceForCreditLossRecovery
114000
CY2023 safe Ground Lease Receivable Allowance For Credit Loss Recovery
GroundLeaseReceivableAllowanceForCreditLossRecovery
170000
CY2023Q4 safe Sales Type And Direct Financing Leases Lease Receivable Allowance For Credit Loss Recovery
SalesTypeAndDirectFinancingLeasesLeaseReceivableAllowanceForCreditLossRecovery
284000
CY2023Q4 us-gaap Sales Type Lease Net Investment In Lease After Allowance For Credit Loss
SalesTypeLeaseNetInvestmentInLeaseAfterAllowanceForCreditLoss
3255195000
CY2023Q4 safe Ground Lease Receivable Net
GroundLeaseReceivableNet
1622298000
CY2023Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable
SalesTypeAndDirectFinancingLeasesLeaseReceivable
4877493000
CY2023Q4 safe Lease Receivable Weighted Average Accrual Rate Net Investmentin Salestype Lease
LeaseReceivableWeightedAverageAccrualRateNetInvestmentinSalestypeLease
0.052
CY2023Q4 safe Lease Receivable Weighted Average Accrual Rate Net Investmentin Ground Lease
LeaseReceivableWeightedAverageAccrualRateNetInvestmentinGroundLease
0.054
CY2023Q4 safe Numberof Ground Leasereceivables
NumberofGroundLeasereceivables
34
CY2023 safe Ground Leasereceivables Term
GroundLeasereceivablesTerm
P97Y10M24D
CY2023 safe Sales Type Lease Net Investment In Lease Credit Loss Expense Reversal
SalesTypeLeaseNetInvestmentInLeaseCreditLossExpenseReversal
108000
CY2023Q4 safe Sales Type Lease Net Investment In Lease Including Unfunded Commitments Allowance For Credit Loss
SalesTypeLeaseNetInvestmentInLeaseIncludingUnfundedCommitmentsAllowanceForCreditLoss
465000
CY2023 safe Ground Lease Receivable Credit Loss Expense Reversal
GroundLeaseReceivableCreditLossExpenseReversal
123000
CY2023Q4 safe Ground Lease Receivable Including Unfunded Commitments Allowance For Credit Loss
GroundLeaseReceivableIncludingUnfundedCommitmentsAllowanceForCreditLoss
406000
CY2023 safe Sales Type Lease Net Investment In Lease Credit Loss Expense Reversal
SalesTypeLeaseNetInvestmentInLeaseCreditLossExpenseReversal
100000
CY2023Q4 safe Ground Lease Receivable Allowance For Credit Loss
GroundLeaseReceivableAllowanceForCreditLoss
200000
CY2023Q4 safe Ground Lease Receivable Year One Originated Current Fiscal Year
GroundLeaseReceivableYearOneOriginatedCurrentFiscalYear
19245000
CY2023Q4 safe Ground Lease Receivable Year Two Originated Fiscal Year Before Current Fiscal Year
GroundLeaseReceivableYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear
698475000
CY2023Q4 safe Ground Lease Receivable Year Three Originated Two Years Before Current Fiscal Year
GroundLeaseReceivableYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear
274085000
CY2023Q4 safe Ground Lease Receivable Year Four Originated Three Years Before Current Fiscal Year
GroundLeaseReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYear
180739000
CY2023Q4 safe Ground Lease Receivable Year Five Originated Four Years Before Current Fiscal Year
GroundLeaseReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYear
450123000
CY2023Q4 safe Ground Lease Receivable
GroundLeaseReceivable
1622667000
CY2023Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Next Twelve Months
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedNextTwelveMonths
113859000
CY2023Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
109187000
CY2023Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
111234000
CY2023Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
113230000
CY2023Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Five Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFiveYears
115367000
CY2023Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Thereafter
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThereafter
30023312000
CY2023Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
30586189000
CY2023 us-gaap Sales Type Lease Interest Income
SalesTypeLeaseInterestIncome
235503000
CY2022 us-gaap Sales Type Lease Interest Income
SalesTypeLeaseInterestIncome
202258000
CY2021 us-gaap Sales Type Lease Interest Income
SalesTypeLeaseInterestIncome
118824000
CY2023Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
551105000
CY2022Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
547739000
CY2023Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
193232000
CY2022Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
193232000
CY2023Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
40400000
CY2022Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
34371000
CY2023Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
703937000
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
706600000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
211113000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
217795000
CY2023Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
9711000
CY2023Q4 safe Real Estate Investment Property Including Finite Lived Intangible Assets Net
RealEstateInvestmentPropertyIncludingFiniteLivedIntangibleAssetsNet
924761000
CY2022Q4 safe Real Estate Investment Property Including Finite Lived Intangible Assets Net
RealEstateInvestmentPropertyIncludingFiniteLivedIntangibleAssetsNet
924395000
CY2023Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
9700000
CY2023 safe Real Estate Available For Sale Sale Or Disposal
RealEstateAvailableForSaleSaleOrDisposal
1500000
CY2023Q4 safe Gain Loss On Sale Of Real Estate Available And Held For Sale
GainLossOnSaleOfRealEstateAvailableAndHeldForSale
100000
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
252097000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
40984000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
211113000
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
252097000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
34302000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
217795000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
6634000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
6634000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3255000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
3255000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
3247000
CY2023Q4 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P80Y4M24D
CY2023Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
68618000
CY2023Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
4863000
CY2023Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
63755000
CY2022Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
68618000
CY2022Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
4027000
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
64591000
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
37174000
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
37567000
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
27945000
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
28361000
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
28623000
CY2023Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
5163783000
CY2023Q4 us-gaap Equity Method Investments
EquityMethodInvestments
310320000
CY2022Q4 us-gaap Equity Method Investments
EquityMethodInvestments
180388000
CY2023 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
24229000
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
9055000
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
6279000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
33964000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
26312000
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
34864000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
29346000
CY2023Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
3692000
CY2022Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
4461000
CY2023Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
13210000
CY2022Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
2664000
CY2023Q4 us-gaap Deposit Assets
DepositAssets
2090000
CY2022Q4 us-gaap Deposit Assets
DepositAssets
4333000
CY2023Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
439000
CY2022Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
448000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
979000
CY2023Q4 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
89238000
CY2022Q4 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
67564000
CY2023Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.055
CY2023Q4 us-gaap Accumulated Amortization Of Current Deferred Finance Costs
AccumulatedAmortizationOfCurrentDeferredFinanceCosts
11000000.0
CY2022Q4 us-gaap Accumulated Amortization Of Current Deferred Finance Costs
AccumulatedAmortizationOfCurrentDeferredFinanceCosts
5700000
CY2023Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
68821000
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
55459000
CY2023Q4 us-gaap Other Liabilities
OtherLiabilities
17626000
CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
17639000
CY2023Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
13049000
CY2022Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
11067000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
15751000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
5471000
CY2022Q4 us-gaap Management Fee Payable
ManagementFeePayable
5301000
CY2023Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
19271000
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
5420000
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
134518000
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
100357000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
4096155000
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3565101000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
41790000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
43742000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
4054365000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
3521359000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1117000000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
237000000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
79193000
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
200000
CY2023 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
48000000.0
CY2023 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.708
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
2662962000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
4096155000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
41790000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
4054365000
CY2023 safe Longterm Debt Weighted Average Maturity
LongtermDebtWeightedAverageMaturity
P27Y6M
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
6235000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
6223000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
543000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
543000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
543000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
8192000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
22279000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
6528000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
15751000
CY2023Q4 safe Lessee Operating Lease Liability Other Adjustments Annual Amount Due Lessor
LesseeOperatingLeaseLiabilityOtherAdjustmentsAnnualAmountDueLessor
500000
CY2023Q4 safe Lessee Operating Lease Discount Rate Office Leases
LesseeOperatingLeaseDiscountRateOfficeLeases
0.057
CY2023Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P8Y6M
us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
4300000
CY2023Q4 safe Real Estate Leasehold Improvement Allowance Unfunded Pending Milestone Achievement
RealEstateLeaseholdImprovementAllowanceUnfundedPendingMilestoneAchievement
115000000.0
CY2023Q4 safe Long Term Purchase Commitment Future Funding Obligation Amount
LongTermPurchaseCommitmentFutureFundingObligationAmount
283100000
CY2023Q4 safe Performance Based Commitments
PerformanceBasedCommitments
111100000
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
34864000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
29346000
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
2546000
CY2023 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
13600000
CY2022 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
40400000
CY2021 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
13300000
CY2023 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
2600000
CY2023 safe Other Income Recognized Due To Hedge Forecasted For Permanent Debt That Did Not Occur
OtherIncomeRecognizedDueToHedgeForecastedForPermanentDebtThatDidNotOccur
15200000
CY2023Q4 safe Number Of Classes Of Common Stock
NumberOfClassesOfCommonStock
1
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
43600000
CY2022 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.701
CY2021 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
37000000.0
CY2021 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.67224
CY2023Q4 safe Related Party Transaction Transaction Price Share Price
RelatedPartyTransactionTransactionPriceSharePrice
20.00
CY2023 us-gaap Profit Loss
ProfitLoss
-54565000
CY2022 us-gaap Profit Loss
ProfitLoss
144684000
CY2021 us-gaap Profit Loss
ProfitLoss
73357000
CY2023 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
408000
CY2022 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
9261000
CY2021 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
234000
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-54973000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
135423000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
73123000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-54973000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
135423000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
73123000
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-54973000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
135423000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
73123000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66690000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62393000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55250000
CY2022 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
1000
CY2021 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
13000
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
66690000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62394000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55263000
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.82
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.17
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.32
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.82
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.17
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.32
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
31557
CY2023 safe Related Party Transaction Management Fee Percent Threshold1
RelatedPartyTransactionManagementFeePercentThreshold1
0.0100
CY2023 safe Related Party Transaction Management Fee Percent Threshold2
RelatedPartyTransactionManagementFeePercentThreshold2
0.0125
CY2023 safe Related Party Transaction Management Fee Percent Threshold3
RelatedPartyTransactionManagementFeePercentThreshold3
0.01375
CY2023 safe Related Party Transaction Management Fee Percent Threshold4
RelatedPartyTransactionManagementFeePercentThreshold4
0.0150
CY2023 safe Related Party Transaction Management Fee Stock Compensation Maturity
RelatedPartyTransactionManagementFeeStockCompensationMaturity
P2Y
CY2023Q4 safe Related Party Transaction Termination Fee Percent Of Prior Years Management Fee
RelatedPartyTransactionTerminationFeePercentOfPriorYearsManagementFee
3
CY2022Q1 safe Number Of New Ground Leases
NumberOfNewGroundLeases
3
CY2023Q4 srt Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
541393000
CY2023Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
552083000
CY2023Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
201965000
CY2023Q4 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Improvements
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements
0
CY2023Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
552083000
CY2023Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
201965000
CY2023Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
754048000
CY2023Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
40400000
CY2023Q4 safe Aggregate Cost For Federal Income Tax Purposes
AggregateCostForFederalIncomeTaxPurposes
1000000000.0
CY2022Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
740971000
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
740971000
CY2020Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
752420000
CY2023 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
14585000
CY2023 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
1508000
CY2021 us-gaap Real Estate Other Deductions
RealEstateOtherDeductions
11449000
CY2023Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
754048000
CY2022Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
740971000
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
740971000
CY2022Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
34371000
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
28343000
CY2020Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
22314000
CY2023 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
6029000
CY2022 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
6028000
CY2021 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
6029000
CY2023Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
40400000
CY2022Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
34371000
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
28343000
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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