InvenTrust Properties Corp
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
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FY2023 · Filed Feb 14, 2024
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Schedule III - Real Estate and Accumulated Depreciation
Notes to Schedule III
The aggregate cost of real estate owned at December 31, 2023 for federal income tax purposes was approximately $2,996,600 (unaudited).
(A)The initial cost to the Company represents the original purchase price of the asset, including amounts incurred subsequent to acquisition which were contemplated at the time the property was acquired.
(B)Cost capitalized subsequent to acquisition includes additional tangible costs associated with investment properties. Amount also includes impairment charges recorded subsequent to acquisition to reduce basis.
(C)Reconciliation of total investment properties:
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Balance at January 1, | $2,481,662 | $2,273,103 | $2,221,689 |
| Acquisitions and capital improvements | 191,666 | 307,177 | 71,324 |
| Disposals and write-offs of assets no longer in service | (16,654) | (98,618) | (19,910) |
| Balance at December 31, | $2,656,674 | $2,481,662 | $2,273,103 |
(D)Reconciliation of accumulated depreciation:
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Balance at January 1, | $389,361 | $350,256 | $292,248 |
| Depreciation expense | 78,560 | 71,428 | 66,275 |
| Disposal and write-offs of assets no longer in service | (6,569) | (32,323) | (8,267) |
| Balance at December 31, | $461,352 | $389,361 | $350,256 |
(E)Depreciation is computed based upon the following estimated lives:
| Buildings and other improvements | 15 | - | 30 years |
|---|---|---|---|
| Tenant improvements | Life of the lease | ||
| Furniture, fixtures and equipment | 3 | - | 20 years |
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