Company: GLPI
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001575965-25-000017
Chunk: 93

Company: Gaming & Leisure Properties, Inc.
Filing Date: 2025-04-24
Form: 10-Q
Item: Part I, Item 8
Chunk 93
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 sales typeInvestment in leases, financing receivablesMinimum lease payments receivable$704,746 $9,766,133 $708,456 $9,806,998 Estimated residual values of lease property (unguaranteed)278,500 1,276,674 278,500 1,276,674 Total983,246 11,042,807 986,956 11,083,672 Less: Unearned income(704,747)(8,668,729)(708,454)(8,716,493)Less: Allowance for credit losses(32,838)(60,922)(23,681)(34,065)Investment in leases - financing receivables, net$245,661 $2,313,156 $254,821 $2,333,114 The present value of the net investment in the lease payment receivable and unguaranteed residual value at March 31, 2025 for the Company's Investment in leases, financing receivables was $2,295.1 million and $78.9 million compared to $2,290.0 million and $77.1 million at December 31, 2024.  The present value of the net investment in the lease payment receivable and unguaranteed residual value at March 31, 2025 for the Company's Investment in leases, sales type was $256.2 million and $22.3 million  compared to $256.7 million million and $21.8 million at December 31, 2024.At March 31, 2025, minimum lease payments owed to us for each of the five succeeding years under the Company's investment in leases were as follows (in thousands):Year ending December 31,Future Minimum Lease Payments  - Sales TypeFuture Minimum Lease Payments  - Financing Receivables2025 (remainder of year)$11,128 $123,237 202614,837 166,917 202714,837 169,858 202814,837 172,851 202914,837 175,897 Thereafter634,270 8,957,373 Total$704,746 $9,766,133 The Company follows ASC 326 “Credit Losses”, which requires that the Company measure and record current expected credit losses (“CECL”), the scope of which includes our Investment in leases, financing receivables, net, as well