Merger with CPA 15 (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the fair values of the assets acquired and liabilities assumed in the acquisition.

(in thousands):



Total Consideration
Fair value of W. P. Carey shares of common stock issued	$	1,380,362
Cash consideration paid	152,356
Merger Consideration	1,532,718
Fair value of our equity interest in CPA^®:15 prior to the CPA^®:15 Merger	107,147
Fair value of our equity interest in jointly-owned investments with CPA^®:15 prior to the CPA^®:15 Merger	54,822
	$	1,694,687
Assets Acquired at Fair Value
Net investment in properties	$	1,762,872
Net investment in direct financing leases	315,789
Equity investments in real estate	166,247
Intangible assets (Note 9)	695,310
Cash and cash equivalents	178,945
Other assets	81,750
	3,200,913
Liabilities Assumed at Fair Value
Non-recourse debt	(1,350,755		)
Below-market rent and other intangible liabilities	(102,155		)
Accounts payable, accrued expenses and other liabilities	(84,640		)
	(1,537,550		)

Total identifiable net assets	1,663,363
Amounts attributable to noncontrolling interests	(237,359		)
Goodwill	268,683
	$	1,694,687

Business Acquisition, Pro Forma Information

The following consolidated pro forma financial information has been presented as if the CPA^®:15 Merger, including the acquisition of Marcourt, had occurred on January 1, 2011 for the years ended 2012 and 2011. The pro forma financial information is not necessarily indicative of what the actual results would have been had the CPA^®:15 Merger occurred on that date, nor does it purport to represent the results of operations for future periods.

(in thousands, except share and per share amounts):



	Years Ended December 31,
	2012		2011
Pro forma total revenues	$	512,822	$	528,257
Pro forma income attributable to W. P. Carey	$	138,157	$	116,746

Pro forma earnings per share: ^(a)
Basic	$	2.00	$	1.69
Diluted	$	1.98	$	1.68

Pro forma weighted average shares: ^(b)
Basic	68,382,378		67,990,118
Diluted	69,071,391		68,268,738

___________


(a)	The pro forma income attributable to W. P. Carey reflects combined general and administrative expenses of $31.7 million and income tax expenses of $9.6 million incurred related to the CPA^®:15 Merger for the year ended December 31, 2011 as if the CPA^®:15 Merger had taken place on January 1, 2011.


(b)	The pro forma weighted average shares outstanding for the years ended December 31, 2012 and 2011 were determined as if the 28,170,643 shares of our common stock issued to CPA^®:15 stockholders in the CPA^®:15 Merger were issued on January 1, 2011.