SPIRIT REALTY CAPITAL, INC. SRC Balance Sheet

Spirit realty capital, inc. (SRC)

Balance Sheet / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Dec'10
Assets
Investments:
Real estate investments:
Land and improvements
1,929	1,910	1,749	1,724	1,645	1,632	1,629	1,586	2,571	1,598	2,600	2,652	2,665	1,725	2,769	2,716	2,679	2,710	2,702	2,679	2,666	2,614	2,503	2,453	2,378	2,330	2,264	1,345	-	1,328	-	-	-	1,297	-	-	-
Buildings and improvements
3,953	3,840	3,531	3,352	3,159	3,125	3,100	2,971	4,685	2,989	4,702	4,748	4,779	3,145	4,877	4,821	4,767	4,816	4,779	4,714	4,651	4,579	4,447	4,356	4,280	4,188	4,033	2,031	-	2,036	-	-	-	1,975	-	-	-
Total real estate investments
5,882	5,750	5,281	5,076	4,804	4,757	4,730	4,557	7,257	4,587	7,303	7,400	7,445	4,871	7,647	7,538	7,446	7,527	7,482	7,393	7,317	7,193	6,950	6,810	6,659	6,519	6,357	3,376	-	3,365	-	-	-	3,272	-	-	-
Less: accumulated depreciation
736	717	689	669	636	621	589	560	1,113	503	1,018	1,001	966	431	974	931	891	860	826	785	779	752	723	679	636	590	547	510	-	490	-	-	-	405	-	-	-
Net real estate held for investment
5,146	5,033	4,592	4,407	4,167	4,136	-	-	-	4,084	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loans receivable, net
30	34	36	38	43	47	52	55	111	78	76	66	67	60	69	86	101	104	106	109	107	109	111	113	115	117	119	44	-	51	-	-	-	65	-	-	-
Intangible lease assets, net
381	385	311	297	291	294	302	287	396	306	429	457	459	355	484	491	509	526	543	557	573	590	599	599	613	618	614	178	283	187	299	307	315	204	330	336	340
Real estate assets under direct financing leases, net
7	14	14	16	20	20	24	24	24	24	24	27	27	36	36	36	41	44	44	44	52	56	56	56	56	58	58	-	34	0	35	35	35	-	36	36	36
Land
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	854	-	863	863	863	-	860	856	833
Buildings and improvements, less accumulated depreciation of $326,676 and $297,422, respectively
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,894	-	1,923	1,932	1,945	-	1,966	1,971	1,943
Real estate assets held for sale, net
3	1	5	9	94	18	43	18	19	20	133	133	130	100	118	79	114	84	77	107	175	119	54	40	25	19	86	42	-	5	-	-	-	9	-	-	-
Net investments
5,569	5,468	4,960	4,768	4,616	4,516	4,140	3,996	6,143	4,514	6,285	6,399	6,479	4,439	6,672	6,606	6,554	6,666	6,655	6,608	6,538	6,441	6,227	6,130	6,022	5,929	5,810	2,865	3,067	2,874	3,121	3,138	3,160	2,867	3,194	3,201	3,154
Net investments
-	-	-	-	-	-	4,564	4,383	6,695	-	6,950	7,084	7,164	4,992	7,380	7,299	7,320	7,425	7,428	7,426	7,448	7,316	7,049	6,940	6,833	6,743	6,630	3,130	-	3,119	-	-	-	3,147	-	-	-
Investment in mortgage notes receivable, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	72	-	74	75	75	-	77	78	79
Total investment in real estate and mortgage assets, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,140	-	3,195	3,213	3,236	-	3,271	3,279	3,234
Cash and cash equivalents
216	14	358	9	9	14	7	9	10	8	11	11	9	5	13	29	8	21	28	39	108	176	50	120	29	66	42	38	14	73	47	27	29	49	54	21	45
Deferred costs and other assets, net
123	124	119	119	124	156	112	107	241	121	218	169	160	86	160	148	173	179	143	170	149	185	156	147	120	129	97	54	-	54	-	-	-	34	-	-	-
Investment in Master Trust 2014
-	-	-	33	33	33	33	33	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred equity investment in SMTA
-	-	-	150	150	150	150	150	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill
225	225	225	225	225	225	225	225	254	225	254	254	254	225	256	258	261	264	269	271	283	285	291	291	291	291	290	-	-	0	-	-	-	-	-	-	-
Assets related to SMTA Spin-Off
-	-	-	-	-	-	0	0	-	2,392	-	-	-	2,367	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8	-	7	8	9	-	11	10	8
Marketable securities pledged as collateral
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	81
Investment in unconsolidated joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	21	21	-	22	36	38
Rents and tenant receivables, less allowance for doubtful accounts of $72 and $80, respectively
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	62	-	62	60	58	-	53	50	45
Prepaid expenses and other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2	-	3	3	3	-	3	2	3
Deferred financing costs, less accumulated amortization of $23,805 and $20,499, respectively
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17	-	21	19	20	-	24	24	26
Total assets
6,135	5,832	5,663	5,308	5,158	5,096	5,092	4,909	7,202	7,263	7,434	7,519	7,588	7,677	7,811	7,735	7,765	7,891	7,869	7,908	7,990	7,964	7,547	7,500	7,275	7,231	7,060	3,223	3,245	3,247	3,337	3,354	3,379	3,231	3,441	3,426	3,485
Liabilities and stockholders’ equity
Liabilities:
Revolving credit facilities
500	116	-	-	206	146	157	346	154	112	386	320	129	86	105	0	24	0	75	20	181	15	125	15	135	35	151	26	-	0	-	-	-	-	-	-	-
Term loans, net
-	-	-	814	413	419	419	0	0	0	419	418	418	418	368	368	332	322	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Senior Unsecured Notes, net
1,484	1,484	1,483	691	295	295	295	295	295	295	295	295	295	295	295	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Mortgages and notes payable, net
215	216	259	286	450	463	465	467	2,571	589	2,050	2,103	2,109	822	2,241	2,571	2,969	3,079	3,242	3,291	3,456	3,629	3,188	3,202	3,738	3,743	3,454	1,905	-	1,894	-	-	-	1,901	-	-	-
Term note payable, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	725	-	-	-
Convertible Notes, net
337	336	334	333	733	729	726	722	719	715	712	709	705	702	699	696	693	690	687	684	681	678	693	691	-	0	-	-	-	-	-	-	-	-	-	-	-
Total debt, net
2,537	2,153	2,077	2,126	2,100	2,054	2,064	1,832	3,741	1,712	3,863	3,846	3,657	2,325	3,709	3,636	4,019	4,092	4,004	3,995	4,319	4,323	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Intangible lease liabilities, net
124	127	116	118	114	120	123	125	151	130	162	169	175	152	186	185	187	193	200	202	204	205	219	216	219	220	213	43	-	45	-	-	-	46	-	-	-
Accounts payable, accrued expenses and other liabilities
124	139	136	134	125	119	99	121	141	131	149	147	146	136	148	138	136	142	131	120	122	123	115	111	108	114	105	62	-	53	-	-	-	31	-	-	-
Liabilities related to SMTA Spin-Off
-	-	-	-	-	-	0	0	-	1,968	-	-	-	1,382	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Notes payable and line of credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,756	-	1,762	1,747	1,745	-	1,750	1,722	1,673
Repurchase agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	54
Accounts payable and accrued expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18	-	19	18	16	-	20	16	15
Due to affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2	-	1	1	1	-	2	0	1
Acquired below market lease intangibles, less accumulated amortization of $56,049 and $53,557, respectively
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	113	-	122	125	127	-	133	135	140
Distributions payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11	-	10	10	11	-	10	10	11
Deferred rental income, derivative and other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8	-	8	13	13	-	15	12	16
Total liabilities
2,785	2,419	2,330	2,378	2,340	2,294	2,287	2,079	4,034	3,943	4,175	4,163	3,979	3,995	4,045	3,960	4,343	4,429	4,337	4,317	4,646	4,652	4,343	4,238	4,202	4,113	3,925	2,038	1,910	1,994	1,925	1,916	1,916	2,705	1,932	1,898	1,912
Commitments and contingencies (see Note 6)
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stockholders’ equity:
Redeemable common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	14	14	14	-	14	12	12
Preferred stock and paid in capital, $0.01 par value, 20,000,000 shares authorized: 6,900,000 shares issued and outstanding at both March 31, 2020 and December 31, 2019
166	166	166	166	166	166	166	166	166	166	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	0	0	0
Common stock, $0.05 par value, 175,000,000 shares authorized: 102,942,162 and 102,476,152 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively
5	5	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	3	3	3	3	3	0	2	1	2	2	2	0	2	2	2
Capital in excess of common stock par value
5,707	5,686	5,544	5,165	5,031	4,995	4,989	4,986	5,197	5,193	5,190	5,188	5,179	5,177	5,174	5,126	4,737	4,721	4,718	4,715	4,443	4,361	4,211	4,208	3,862	3,859	3,857	1,832	-	1,827	-	-	-	1,004	-	-	-
Accumulated deficit
-2,518	-2,432	-2,370	-2,385	-2,371	-2,357	-2,354	-2,327	-2,199	-2,044	-1,936	-1,837	-1,575	-1,499	-1,413	-1,356	-1,318	-1,262	-1,189	-1,127	-1,102	-1,052	-1,005	-946	-790	-742	-724	-648	-	-575	-	-	-	-470	-	-	-
Capital in excess of par value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,883	-	1,883	1,883	1,883	-	1,882	1,883	1,878
Accumulated distributions in excess of earnings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	548	-	484	458	432	-	385	365	332
Accumulated other comprehensive loss
-10	-11	-12	-20	-12	-7	-	-	-	0	0	0	0	-	-0	-0	-1	-1	-1	-1	-1	-1	-0	-1	-0	-0	-0	-0	-1	-0	-2	-2	-3	-7	-4	-4	12
Treasury stock, at cost
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	4	2	2	1	1	-	-	0	-	-	-	-	-	-	-
Total stockholders’ equity
3,349	3,413	3,332	2,929	2,818	2,801	2,805	2,829	3,168	3,319	3,259	3,355	3,608	3,682	3,765	3,775	3,422	3,461	3,532	3,590	3,343	3,311	3,204	3,262	3,072	3,118	3,134	1,185	1,335	1,253	1,398	1,423	1,449	526	1,494	1,515	1,560
Partnership units
Total liabilities and stockholders’ equity/partners' capital
6,135	5,832	5,663	5,308	5,158	5,096	5,092	4,909	7,202	7,263	7,434	7,519	7,588	7,677	7,811	7,735	7,765	7,891	7,869	7,908	7,990	7,964	7,547	7,500	7,275	7,231	7,060	3,223	3,245	3,247	3,337	3,354	3,379	3,231	3,441	3,426	3,485
Spirit Realty, L.P.
Land and improvements
1,929	1,910	1,749	1,724	-	1,632	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Land and improvements
-	-	-	-	1,645	-	1,629	1,586	2,571	1,598	2,600	2,652	2,665	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Buildings and improvements
3,953	3,840	3,531	3,352	-	3,125	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Buildings and improvements
-	-	-	-	3,159	-	3,100	2,971	4,685	2,989	4,702	4,748	4,779	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total real estate investments
5,882	5,750	5,281	5,076	-	4,757	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: accumulated depreciation
736	717	689	669	-	621	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total real estate investments
-	-	-	-	4,804	-	4,730	4,557	7,257	4,587	7,303	7,400	7,445	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Real Estate Investment Property, Accumulated Depreciation
-	-	-	-	636	-	589	560	1,113	503	1,018	1,001	966	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net real estate held for investment
5,146	5,033	4,592	4,407	-	4,136	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net Real Estate Held for Investment
-	-	-	-	4,167	-	4,140	3,996	6,143	4,084	6,285	6,399	6,479	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loans receivable, net
30	34	36	38	-	47	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Intangible lease assets, net
381	385	311	297	-	294	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loans and Leases Receivable, Net Amount
-	-	-	-	43	-	52	55	111	78	76	66	67	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Real estate assets under direct financing leases, net
7	14	14	16	-	20	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Intangible lease assets, net
-	-	-	-	291	-	302	287	396	306	429	457	459	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Real estate assets under direct financing leases, net
-	-	-	-	20	-	24	24	24	24	24	27	27	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Real estate assets held for sale, net
3	1	5	9	-	18	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net investments
5,569	5,468	4,960	4,768	-	4,516	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash and cash equivalents
216	14	358	9	-	14	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Real estate assets held for sale, net
-	-	-	-	94	-	43	18	19	20	133	133	130	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net investments
-	-	-	-	4,616	-	4,564	4,383	6,695	4,514	6,950	7,084	7,164	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash and Cash Equivalents, at Carrying Value
-	-	-	-	9	-	7	9	10	8	11	11	9	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred costs and other assets, net
123	124	119	119	-	156	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred costs and other assets, net
-	-	-	-	124	-	112	107	241	121	218	169	160	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment in Master Trust 2014
-	-	-	33	-	33	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred equity investment in SMTA
-	-	-	150	-	150	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill
225	225	225	225	-	225	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment in Master Trust 2014
-	-	-	-	33	-	33	33	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred equity investment in SMTA
-	-	-	-	150	-	150	150	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill
-	-	-	-	225	-	225	225	254	225	254	254	254	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred equity investment in SMTA
-	-	-	-	-	-	150	150	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total assets
6,135	5,832	5,663	5,308	-	5,096	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Assets related to SMTA Spin-Off
-	-	-	-	-	-	0	0	-	2,392	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total assets
-	-	-	-	5,158	-	5,092	4,909	7,202	7,263	7,434	7,519	7,588	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Revolving credit facilities
500	116	-	-	-	146	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Long-term Line of Credit
-	-	-	-	206	-	157	346	154	112	386	320	129	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Term loans, net
-	-	-	814	-	419	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Term loans, net
-	-	-	-	413	-	419	0	0	0	419	418	418	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Senior Unsecured Notes, net
1,484	1,484	1,483	691	-	295	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Senior Unsecured Notes, net
-	-	-	-	295	-	295	295	295	295	295	295	295	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Mortgages and notes payable, net
-	-	-	-	-	-	-	467	2,571	589	2,050	2,103	2,109	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Notes payable to Spirit Realty Capital, Inc., net
337	336	334	333	-	729	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Notes Payable, Related Parties
-	-	-	-	450	-	465	722	719	715	712	709	705	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Mortgages and notes payable, net
215	216	259	286	-	463	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Convertible Notes, net
-	-	-	-	733	-	726	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total debt, net
2,537	2,153	2,077	2,126	-	2,054	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total debt, net
-	-	-	-	2,100	-	2,064	1,832	3,741	1,712	3,863	3,846	3,657	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Intangible lease liabilities, net
124	127	116	118	-	120	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Below Market Lease, Net
-	-	-	-	114	-	123	125	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable, accrued expenses and other liabilities
124	139	136	134	-	119	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Intangible lease liabilities, net
-	-	-	-	-	-	-	-	151	130	162	169	175	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable, accrued expenses and other liabilities
-	-	-	-	125	-	99	121	141	131	149	147	146	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total liabilities
2,785	2,419	2,330	2,378	-	2,294	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Liabilities related to SMTA Spin-Off
-	-	-	-	-	-	0	0	-	1,968	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total liabilities
-	-	-	-	2,340	-	2,287	2,079	4,034	3,943	4,175	4,163	3,979	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General partner's common capital, 797,644 units issued and outstanding as of both December 31, 2019 and December 31, 2018
21	22	22	22	-	23	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General partner's capital: 797,644 units issued and outstanding as of both March 31, 2019 and December 31, 2018
-	-	-	-	22	-	23	23	23	24	24	25	25	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Limited partners' preferred capital: 6,900,000 units issued and outstanding as of both March 31, 2020 and December 31, 2019
166	166	166	166	-	166	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Limited partners' preferred capital: 6,900,000 units issued and outstanding as of both March 31, 2019 and December 31, 2018
-	-	-	-	166	-	166	166	166	166	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Limited partners' capital: 102,144,518 and 101,678,508 units issued and outstanding as of March 31, 2020 and December 31, 2019, respectively
3,161	3,224	3,143	2,740	-	2,612	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Limited partners' capital: 86,014,142 and 84,989,711 units issued and outstanding as of March 31, 2019 and December 31, 2018, respectively
-	-	-	-	2,629	-	2,616	2,639	2,978	3,128	3,234	3,330	3,582	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total partners' capital
3,349	3,413	3,332	2,929	-	2,801	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Partners' Capital
-	-	-	-	2,818	-	2,805	2,829	3,168	3,319	3,259	3,355	3,608	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total liabilities and stockholders’ equity/partners' capital
6,135	5,832	5,663	5,308	-	5,096	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total liabilities and stockholders’ equity/partners' capital
-	-	-	-	5,158	-	5,092	4,909	7,202	7,263	7,434	7,519	7,588	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-