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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Investment Management:    
Revenues $ 308,999 $ 298,323
Operating Expenses    
Depreciation and amortization 116,194 112,379
General and administrative 20,745 21,285
Impairment charges 19,420 0
Reimbursable tenant costs 13,175 13,171
Property expenses, excluding reimbursable tenant costs 10,075 9,912
Operating property expenses 5,223 10,594
Reimbursable costs from affiliates 4,030 3,868
Stock-based compensation expense 2,661 4,165
Subadvisor fees 1,277 2,202
Merger and other expenses 187 146
Total operating expenses 192,987 177,722
Other Income and Expenses    
Interest expense (52,540) (61,313)
Equity in (losses) earnings of equity method investments in the Managed Programs and real estate (45,790) 5,491
Gain on sale of real estate, net 11,751 933
Other gains and (losses) (4,423) 955
Total other income and expenses (91,002) (53,934)
Income before income taxes 25,010 66,667
Benefit from income taxes 41,692 2,129
Net Income 66,702 68,796
Net income attributable to noncontrolling interests (612) (302)
Net Income Attributable to W. P. Carey $ 66,090 $ 68,494
Basic Earnings Per Share (usd per share) $ 0.38 $ 0.41
Diluted Earnings Per Share (usd per share) $ 0.38 $ 0.41
Weighted-Average Shares Outstanding    
Basic (in shares) 173,249,236 167,234,121
Diluted (in shares) 173,460,053 167,434,740
Real Estate    
Real Estate:    
Lease revenues $ 282,110 $ 262,939
Lease termination income and other 6,509 3,270
Gross contract revenue 5,967 15,996
Investment Management:    
Gross contract revenue 5,967 15,996
Revenues 294,586 282,205
Operating Expenses    
Depreciation and amortization 115,207 111,413
General and administrative 14,922 15,188
Impairment charges 19,420 0
Reimbursable tenant costs 13,175 13,171
Property expenses, excluding reimbursable tenant costs 10,075 9,912
Operating property expenses 5,223 10,594
Stock-based compensation expense 1,970 2,800
Merger and other expenses (132) 146
Total operating expenses 179,860 163,224
Other Income and Expenses    
Interest expense (52,540) (61,313)
Equity in (losses) earnings of equity method investments in the Managed Programs and real estate 1,565 (78)
Gain on sale of real estate, net 11,751 933
Other gains and (losses) (5,776) 970
Total other income and expenses (45,000) (59,488)
Income before income taxes 69,726 59,493
Benefit from income taxes 31,800 (6,159)
Net Income 101,526 53,334
Net income attributable to noncontrolling interests (612) 74
Net Income Attributable to W. P. Carey 100,914 53,408
Investment Management    
Real Estate:    
Gross contract revenue 14,413 16,118
Investment Management:    
Gross contract revenue 14,413 16,118
Operating Expenses    
Depreciation and amortization 987 966
General and administrative 5,823 6,097
Reimbursable costs from affiliates 4,030 3,868
Stock-based compensation expense 691 1,365
Subadvisor fees 1,277 2,202
Merger and other expenses 319 0
Total operating expenses 13,127 14,498
Other Income and Expenses    
Equity in (losses) earnings of equity method investments in the Managed Programs and real estate (47,355) 5,569
Other gains and (losses) 1,353 (15)
Total other income and expenses (46,002) 5,554
Income before income taxes (44,716) 7,174
Benefit from income taxes 9,892 8,288
Net Income (34,824) 15,462
Net income attributable to noncontrolling interests 0 (376)
Net Income Attributable to W. P. Carey (34,824) 15,086
Investment Management | Asset management revenue    
Real Estate:    
Gross contract revenue 9,889 9,732
Investment Management:    
Gross contract revenue 9,889 9,732
Investment Management | Reimbursable costs from affiliates    
Real Estate:    
Gross contract revenue 4,030 3,868
Investment Management:    
Gross contract revenue 4,030 3,868
Investment Management | Structuring and other advisory revenue    
Real Estate:    
Gross contract revenue 494 2,518
Investment Management:    
Gross contract revenue $ 494 $ 2,518