Company: GLPI
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001575965-25-000031
Chunk: 38

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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— $— $— $856 856 Totals$21,971 $22,204 $44,175 $(3,322)$40,853 

15

The amortized cost basis of the Company's investment in leases, financing receivables by year of origination is shown below as of June 30, 2025 (in thousands):Origination yearInvestment in leases, financing receivablesAllowance for credit lossesAmortized cost basis at  June 30, 2025Allowance as a percentage of outstanding financing receivable2024$297,411 $(15,420)$281,991 (5.18)%2023103,889 (9,906)93,983 (9.54)%2022718,074 (50,980)667,094 (7.10)%20211,261,571 (28,571)1,233,000 (2.26)%Total$2,380,945 $(104,877)$2,276,068 (4.40)%The amortized cost basis of the Company's investment in leases, sales type by year of origination is shown below as of June 30, 2025 (in thousands):Origination yearInvestment in leases, sales-typeAllowance for credit lossesAmortized cost basis at  June 30, 2025Allowance as a percentage of outstanding financing receivable2024$278,499 $(35,106)$243,393 (12.61)%During the three and six months ended June 30, 2025, the Company recorded net provisions for credit losses of $46.2 million and $82.2 million, respectively, related to investments in leases, financing receivables, and sales-type leases.  These provisions were primarily driven by a sequential deterioration in the third-party forward-looking economic outlook used in the Company's CECL reserve calculations. The macroeconomic forecast as of March 31, 2025, was more pessimistic than the forecast used as of December 31, 2024, resulting in a provision during the three months ended March 31, 2025. The outlook further deteriorated as of June 30, 2025, leading to an additional provision during the three months ended June 30, 2025.During the three and six months ended June 30, 2024, the Company recorded a benefit for