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Midas Edge

REALTY INCOME CORP

For the period ended Dec 31, 2023. Filed Feb 21, 2024.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 21, 2024

O$59.54+0.1%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Schedule III Real Estate and Accumulated Depreciation

Initial Cost to Company · Cost Capitalized Subsequent to Acquisition · Gross Amount at Which Carried at Close of Period (Notes 3, 4 and 6)
Description · Number of Properties (Note 1) · Encumbrances (Note 2) · Land · Buildings, Improvements and Acquisition Fees · Improvements · Carrying Costs · Land · Buildings, Improvements and Acquisition Fees · Total · Accumulated Depreciation (Note 5) · Date of Construction · Date Acquired
U.S.
Advertising4$—$18,677$70,647$—$—$18,677$70,647$89,324$5,5411990-20093/26/2021-11/1/2021
Aerospace624,1339,280104,5963,297—9,280107,893117,17348,0221951-20136/20/2011-11/1/2021
Apparel7953,577162,647450,2337,454199162,647457,886620,53384,4591962-202210/30/1987-3/22/2023
Automotive Collision Service221—165,204397,47022,13510165,204419,615584,81965,8711920-20238/30/2002-12/21/2023
Automotive Parts407—160,113387,0576,358827160,113394,242554,355113,7201969-20208/6/1987-3/22/2023
Automotive Service808—629,6061,221,92284,848144629,6061,306,9141,936,520152,0301920-202310/2/1985-12/21/2023
Automotive Tire Services270—221,879476,68127,80281221,879504,564726,443157,6391947-202311/27/1985-10/18/2023
Beverage18—183,323185,539——183,323185,539368,86261,7131950-20206/25/2010-6/28/2022
Child Care320—149,289348,5915,658728149,289354,977504,266128,6771957-202312/22/1981-12/7/2023
Consumer Electronics27—57,535158,3342,1455157,535160,530218,06524,8101991-20206/9/1997-8/22/2023
Consumer Goods917,99024,077259,494925—24,077260,419284,49645,2211987-20131/22/2013-11/1/2021
Convenience Stores2,076—1,884,8222,846,16223,9701451,884,8222,870,2774,755,099599,6841922-20233/3/1995-12/21/2023
Crafts and Novelties53—104,873312,1172,174440104,873314,731419,60447,8801974-202211/26/1996-3/22/2023
Diversified Industrial2249,83857,865360,33617,976—57,865378,312436,17738,1471954-20219/19/2012-3/22/2023
Dollar Stores2,8991,983919,2772,588,2436,8549919,2772,595,1063,514,383533,5231925-20232/3/1998-12/21/2023
Drug Stores594254,729775,8462,159,9834,143100775,8462,164,2262,940,072529,6881958-20159/30/1998-8/24/2023
Education19—28,36258,9184,51410328,36263,53591,89717,0611957-200912/19/1984-11/22/2022
Energy32—23,44274,471297—23,44274,76898,2104,6441963-201411/1/2021-11/1/2021
Entertainment28—97,433219,53526,632—97,433246,167343,60017,1151960-20213/31/1999-6/30/2023
Equipment Services30—31,703102,0901,424—31,703103,514135,21718,7301965-20227/3/2003-12/15/2023
Financial Services357135,382177,065455,777(6,538)101177,065449,340626,405109,9721807-20153/10/1987-3/22/2023
Food Processing13—24,968184,89725,804—24,968210,701235,66921,5231991-202312/20/2012-9/15/2023
General Merchandise2737,592432,2901,228,772(1,155)535432,2901,228,1521,660,442185,9271954-20238/6/1987-12/6/2023
Gaming1—419,4641,277,403——419,4641,277,4031,696,86739,5392019-201912/1/2022-12/1/2022
Grocery24469,243580,3521,500,5048,557325580,3521,509,3862,089,738287,5041947-20219/30/2003-6/1/2023
Health and Beauty8—6,69649,3392,542—6,69651,88158,5778,2211999-20172/23/1999-3/22/2023
Health and Fitness141—351,0921,562,03712,618172351,0921,574,8271,925,919404,3591943-20235/31/1995-8/23/2023
Health Care49368,360341,6531,151,28524,848225341,6531,176,3581,518,011122,7781922-202312/18/1984-12/18/2023
Home Furnishings18041,472206,189561,99810,253128206,189572,379778,56872,2761960-20211/24/1984-5/10/2023
Home Improvement17215,916526,157935,4565,97663526,157941,4951,467,652171,5691863-202212/22/1986-6/13/2023
Insurance310,9982,2046,838——2,2046,8389,0424222000-201211/1/2021-10/17/2022
Jewelry5—5,36758,688——5,36758,68864,0557,5961997-20081/22/2013-11/1/2021
Machinery4—6,57769,225——6,57769,22575,8028,8371969-20217/31/2012-3/22/2023
Motor Vehicle Dealerships64—229,924421,1811,700—229,924422,881652,80593,6901962-202311/29/2003-11/30/2023
Office Supplies6—12,60338,0261,14733912,60339,51252,1158,4191978-20145/30/1997-11/1/2021
Other Manufacturing16—28,025202,5103,24824028,025205,998234,02324,8221979-20181/22/2013-12/15/2022
Initial Cost to Company · Cost Capitalized Subsequent to Acquisition · Gross Amount at Which Carried at Close of Period (Notes 3, 4 and 6)
Description · Number of Properties (Note 1) · Encumbrances (Note 2) · Land · Buildings, Improvements and Acquisition Fees · Improvements · Carrying Costs · Land · Buildings, Improvements and Acquisition Fees · Total · Accumulated Depreciation (Note 5) · Date of Construction · Date Acquired
Packaging18$626$45,730$237,725$2,480$—$45,730$240,205$285,935$52,6651956-20166/3/2011-1/5/2023
Paper2—2,46211,93545—2,46211,98014,4425,1222002-20065/2/2011-12/21/2012
Pet Supplies and Services140—130,787376,24826,557239130,787403,044533,83154,4281945-202312/22/1981-12/15/2023
Restaurants-Casual83612,823654,0151,473,1437221,531654,0151,475,3962,129,411256,2941965-20195/16/1984-4/10/2023
Restaurants-Quick Service1,814—939,9211,960,6583,593174939,9211,964,4252,904,346336,0681926-202312/9/1976-10/25/2023
Shoe Stores6—6,99241,9853412156,99242,54149,53314,5441990-20083/26/1998-12/22/2021
Sporting Goods4712,255107,608366,7115,185178107,608372,074479,68258,0301950-202010/17/2001-3/22/2023
Telecommunications7—9,30314,392683119,30315,08624,3893,6811964-20166/26/1998-10/17/2022
Theaters76—221,786739,05810,719—221,786749,777971,563298,8101930-20147/27/2000-11/1/2021
Transportation Services87—177,6911,059,85411,424402177,6911,071,6801,249,371256,6181967-20164/1/2003-4/5/2022
Warehousing and Storage2—1,44215,178——1,44215,17816,6203,3901979-20071/22/2013-11/1/2021
Wholesale Club546,787306,006713,020——306,006713,0201,019,026178,1101985-20199/30/2011-8/11/2022
Other16—31,43454,9943,916—31,43458,91090,3449,8301986-20218/18/1986-4/10/2023
Europe
Apparel3—20,75179,223——20,75179,22399,9744,6491990-20054/19/2021-3/30/2023
Automotive Parts2—3,9187,737——3,9187,73711,6552041980-19966/17/2022-9/28/2023
Automotive Tire Services3—1,7075,206——1,7075,2066,9135811974-19943/9/2021-3/9/2021
Consumer Electronics2—8,98824,686602—8,98825,28834,2767171997-20063/4/2022-9/29/2023
Convenience Stores2—5,2843,301——5,2843,3018,5852131982-202012/21/2021-9/20/2023
Diversified Industrial5—29,50557,817922—29,50558,73988,2442,0551980-20207/22/2021-3/30/2023
Drug Stores1—————————1990-19901/31/2023-1/31/2023
Energy1—9,56210,678——9,56210,67820,2406002020-20201/13/2022-1/13/2022
Entertainment1—22,76835,888——22,76835,88858,6562,8231993-19931/13/2022-1/13/2022
Food Processing7—33,48590,8501,911—33,48592,761126,2464,7951950-202111/30/2021-2/23/2023
General Merchandise23—191,349232,09519,656—191,349251,751443,1009,1911980-20238/25/2021-10/17/2023
Grocery17638,7321,541,4542,312,1852,361—1,541,4542,314,5463,856,000185,6161800-20225/23/2019-12/1/2023
Health and Fitness2—29,10228,456——29,10228,45657,5581,6592004-20203/24/2022-1/31/2023
Health Care6—27,16352,355——27,16352,35579,5183,8011969-20063/23/2020-9/7/2022
Home Furnishings12—89,533113,961——89,533113,961203,4947,6291980-20194/9/2021-4/4/2023
Home Improvement92—729,656938,9241,478—729,656940,4021,670,05861,9971890-20167/31/2020-12/6/2023
Motor Vehicle Dealerships3—16,37628,146——16,37628,14644,5221,8791990-20052/11/2022-9/27/2022
Other Manufacturing2—40,17913,169——40,17913,16953,3486141912-19684/6/2022-6/22/2022
Restaurants-Quick Service1—7131,899——7131,8992,6122302007-20073/17/2021-3/17/2021
Sporting Goods92—264,736478,111892—264,736479,003743,7398,6931950-20188/5/2022-12/28/2023
Theaters1—1,455———1,455—1,455—2011-201112/18/2019-12/18/2019
Transportation Services3—13,16628,6001,142—13,16629,74242,9081,1101970-19701/6/2022-12/22/2022
Warehousing and Storage1—52,72548,919——52,72548,919101,6443,9022002-20023/11/2021-3/11/2021
Wholesale Club7—54,55096,993——54,55096,993151,5434,5591973-200210/28/2022-10/28/2022
Other3—75,775—7,125—75,7757,12582,900—2023-20234/27/2023-9/29/2023
13,458$822,436$14,954,956$34,240,455$439,360$7,715$14,954,956$34,687,530$49,642,486$6,096,736
Note 1. · Realty Income Corporation owns or holds interests in 12,851 single-client properties in the United States and Puerto Rico, our corporate headquarters property in San Diego, California, 191 single-client properties in the United Kingdom, and 148 single-client properties elsewhere in Europe. Crest Net Lease, Inc. owns seven single-client properties in the United States.Realty Income Corporation also owns or holds interests in 149 multi-client properties in the United States, 100 multi-client properties in the United Kingdom, and 12 multi-client properties elsewhere in Europe.
Note 2. · Includes mortgages payable secured by 131 properties and excludes unamortized discount and deferred financing costs of $0.8 million.
Note 3. · The aggregate cost for federal income tax purposes for Realty Income Corporation is $55.2 billion and for Crest Net Lease, Inc. is $26.1 million.
Note 4. · The following is a reconciliation of total real estate carrying value for the years ended December 31 (in thousands): · 2023 · 2022 · 2021
Balance at Beginning of Period$42,689,699$35,952,659$21,048,334
Additions During Period:
Acquisitions and development7,239,8858,021,1595,851,945
Merger Additions (1)——11,722,801
Less amounts allocated to acquired lease intangible assets and liabilities on our Consolidated Balance Sheets(484,096)(625,730)(826,064)
Improvements, Etc.54,90499,48456,567
Other (Leasing Costs and Building Adjustments) (2)49,50497,48264,807
Total Additions6,860,1977,592,39516,870,056
Deductions During Period:
Cost of Real Estate sold125,166402,3861,206,837
Cost of Equipment sold11—8
Orion Divestiture (1)——634,254
Releasing costs—5340
Other (3)111,85139,46391,176
Total Deductions237,028441,9021,932,315
Foreign Currency Translation329,618(413,453)(33,416)
Balance at Close of Period$49,642,486$42,689,699$35,952,659
(1) Represents derecognition of assets from the Orion Divestiture. For further information, see note 2, Merger with VEREIT, Inc. and Orion Office REIT Inc. Divestiture, to our consolidated financial statements.
(2) The year ended December 31, 2023 includes contributions to joint ventures of $38.4 million and reclassification of $11.3 million right of use assets under finance leases. 2022 includes reclassification of $3.3 million right of use assets under finance leases, $43.0 million mortgage assumption, and $51.2 million RI Ops LP Units. 2021 includes $20.1 million right of use assets under finance leases and $43.7 million mortgage assumption.
(3) The year ended December 31, 2023 includes $14.0 million for building razed and $97.5 million of impairment, excluding impairment of depreciation, in-place and above- market leases. The year ended 2022 includes $13.6 million for building razed and $25.9 million of impairment. The year ended 2021 includes $43.0 million for building razed and $39.0 million of impairment.
Note 5. · The following is a reconciliation of accumulated depreciation for the years ended (in thousands): · 2023 · 2022 · 2021
Balance at Beginning of Period$4,908,658$3,963,753$3,563,178
Additions During Period - Provision for Depreciation1,233,7091,028,182628,246
Deductions During Period:
Accumulated depreciation of real estate and equipment sold or disposed of57,60973,913226,897
Foreign Currency Translation11,978(9,364)(774)
Balance at Close of Period$6,096,736$4,908,658$3,963,753
Please see note 1, Summary of Significant Accounting Policies, to our consolidated financial statements for information regarding lives used for depreciation and amortization.
Note 6.In 2023, provisions for impairment were recorded on 112 Realty Income properties.
In 2022, provisions for impairment were recorded on 94 Realty Income properties.
In 2021, provisions for impairment were recorded on 103 Realty Income properties.
See report of independent registered public accounting firm.
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.