XML 24 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Income (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Lease revenues:        
Rental income $ 66,498 $ 14,554 $ 131,417 $ 29,188
Interest income from direct financing leases 9,412 1,913 18,924 4,038
Total lease revenues 75,910 16,467 150,341 33,226
Asset management revenue from affiliates 10,355 15,636 20,369 31,238
Structuring revenue from affiliates 6,422 3,622 12,764 11,260
Dealer manager fees 2,320 4,080 3,542 7,867
Reimbursed costs from affiliates 15,467 20,484 27,435 39,221
Other real estate income 8,582 6,810 17,110 12,569
Revenues, Total 119,056 67,099 231,561 135,381
Operating Expenses        
General and administrative 30,250 26,581 59,223 53,491
Reimbursable costs 15,467 20,484 27,435 39,221
Depreciation and amortization 30,927 6,424 61,454 12,881
Property expenses 5,531 3,025 10,602 5,055
Other real estate expenses 2,782 2,431 5,515 4,930
Impairment charges 0 0 1,071 0
Operating Expenses, Total 84,957 58,945 165,300 115,578
Other Income and Expenses        
Other interest income 316 155 686 658
Net income from equity investments in real estate and the Managed REITs 32,541 28,345 43,197 42,331
Other income and (expenses) 1,877 1,216 2,969 1,524
Interest expense (26,912) (7,128) (53,706) (14,408)
Other Income and Expenses, Total 7,822 22,588 (6,854) 30,105
Income from continuing operations before income taxes 41,921 30,742 59,407 49,908
Benefits from (provision for) income taxes 1,122 1,882 2,355 187
Income from continuing operations 43,043 32,624 61,762 50,095
Discontinued Operations        
Income (loss) from operations of discontinued properties 3,118 (93) 3,306 11
Gain (loss) on sale of real estate 1,313 (298) 382 (479)
Gain on extinguishment of debt 13   84  
Impairment charges (1,671) (1,003) (3,879) (6,728)
Income (loss) from discontinued operations, net of tax 2,773 (1,394) (107) (7,196)
Net income 45,816 31,230 61,655 42,899
Net (income) loss attributable to non controlling interests (2,692) 480 (4,400) 1,058
Net loss attributable to redeemable noncontrolling interest 43 67 93 110
Net Income Attributable to W. P. Carey 43,167 31,777 57,348 44,067
Basic Earnings Per Share        
Income from continuing operations attributable to W. P. Carey $ 0.59 $ 0.82 $ 0.83 $ 1.26
Income (loss) from discontinued operations attributable to W. P. Carey $ 0.04 $ (0.04) $ 0 $ (0.18)
Net income attributable to W. P. Carey $ 0.63 $ 0.78 $ 0.83 $ 1.08
Diluted Earnings Per Share        
Income from continuing operations attributable to W. P. Carey $ 0.58 $ 0.80 $ 0.82 $ 1.23
Income (loss) from discontinued operations attributable to W. P. Carey $ 0.04 $ (0.03) $ (0.01) $ (0.17)
Net income attributable to W. P. Carey $ 0.62 $ 0.77 $ 0.81 $ 1.06
Weighted Average Shares Outstanding        
Basic 68,406,771 40,047,220 68,776,108 40,218,677
Diluted 69,493,902 40,757,055 69,870,849 40,828,646
Amounts Attributable to W. P. Carey        
Income from continuing operations, net of tax 40,419 33,171 57,506 51,263
Income (loss) from discontinued operations, net of tax 2,748 (1,394) (158) (7,196)
Net Income Attributable to W. P. Carey $ 43,167 $ 31,777 $ 57,348 $ 44,067
Distributions Declared Per Share $ 0.840 $ 0.567 $ 1.660 $ 1.132