Seritage Growth Properties

The Company is subject, from time to time, to various legal proceedings and claims that arise in the ordinary course of business and due to the current environment. While the resolution of such matters cannot be predicted with certainty, management believes, based on currently available information, that the final outcome of such matters will not have a material effect on the consolidated financial position, results of operations, cash flows or liquidity of the Company. As of December 31, 2023, and December 31, 2022, the Company did not record any amounts for litigation or other matters aside from the settlement payment of $35.5 million made during the year ended December 31, 2022. This settlement payment was partially offset by payments made by our D&O insurers, which we received during the years ended December 31, 2023 and 2022. Details of the litigation and these payments are described in Note 9 to our consolidated financial statements.