| Disposal Groups, Including Discontinued Operations |
The following table summarizes assets, liabilities, and equity derecognized in connection with the Spin-Off (in thousands):
| | | | | | | Assets | | | Investments in real estate: | | | Land, buildings and improvements — net lease and other | $ | 1,299,400 | | | In-place lease and other intangible assets | 373,631 | | | Above-market rent intangible assets | 58,426 | | | Investments in real estate | 1,731,457 | | | Accumulated depreciation and amortization | (454,768) | | | Net investments in real estate | 1,276,689 | | | Cash and cash equivalents and restricted cash | 9,141 | | | Other assets, net (excluding restricted cash) | 70,472 | | | 61,737 | | Less: impairment charges (Note 9) | (47,282) | | | Total assets | $ | 1,370,757 | | | Liabilities and Equity | | | Non-recourse mortgages, net | $ | 164,743 | | | Accounts payable, accrued expenses and other liabilities | 54,199 | | | Below-market rent intangible liabilities | 11,799 | | | Deferred income taxes | 9,718 | | | Total liabilities | 240,459 | | | | | Distributions in excess of accumulated earnings | 229,712 | | | Accumulated other comprehensive loss | (35,664) | | | Noncontrolling interests | 4,406 | | | Total equity | 198,454 | | | Total liabilities and equity | $ | 438,913 | |
The following table summarizes the impact to the components of Total equity in connection with the Spin-Off (in thousands):
| | | | | | | Impact to Total Equity | | | Total assets derecognized (excluding cash and cash equivalents and restricted cash) | $ | (1,361,616) | | | Total liabilities derecognized | 240,459 | | | Net assets derecognized | (1,121,157) | | | Less: Proceeds in connection with the Spin-Off, reflecting cash and cash equivalents and restricted cash derecognized (described below under “Debt Facility”) | 343,885 | | | Impact to Total equity | $ | (777,272) | | | | | Impact to Components of Total Equity | | | Distributions in excess of accumulated earnings derecognized | $ | (229,712) | | | Accumulated other comprehensive income derecognized | 35,664 | | | Noncontrolling interests derecognized | (4,406) | | | Reduction to Additional paid-in capital | (578,818) | | | Impact to Total equity | $ | (777,272) | |
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