2.4.0.8010020 - Disclosure - Basis of Presentationtruefalsefalse1false falsefalseFROM_Jan01_2013_TO_Jun30_2013http://www.sec.gov/CIK0001390213duration2013-01-01T00:00:002013-06-30T00:00:001true 1us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Business and Organization2false 2us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00Note 2. Basis of Presentation Our interim consolidated financial statements have been prepared, without audit, in accordance with the instructions to Form 10-Q and, therefore, do not necessarily include all information and footnotes necessary for a fair statement of our consolidated financial position, results of operations and cash flows in accordance with accounting principles generally accepted in the U.S. (“GAAP”).  In the opinion of management, the unaudited financial information for the interim periods presented in this Report reflects all normal and recurring adjustments necessary for a fair statement of results of operations, financial position and cash flows. Our interim consolidated financial statements should be read in conjunction with our audited consolidated financial statements and accompanying notes for the year ended December 31, 2012, which are included in the 2012 Annual Report, as certain disclosures that would substantially duplicate those contained in the audited consolidated financial statements have not been included in this Report. Operating results for interim periods are not necessarily indicative of operating results for an entire fiscal year. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in our consolidated financial statements and the accompanying notes.  Actual results could differ from those estimates. The unaudited consolidated financial statements included in this Report have been retrospectively adjusted to reflect the disposition (or planned disposition) of certain properties as discontinued operations for all periods presented. Basis of Consolidation Our consolidated financial statements reflect all of our accounts, including those of our controlled subsidiaries and our tenancy-in-common interests as described below. The portion of equity in a consolidated subsidiary that is not attributable, directly or indirectly, to us is presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated. We have investments in tenancy-in-common interests in various domestic and international properties. Consolidation of these investments is not required as such interests do not qualify as VIEs and do not meet the control requirement required for consolidation. Accordingly, we account for these investments using the equity method of accounting. We use the equity method of accounting because the shared decision-making involved in a tenancy-in-common interest investment provides us with significant influence on the operating and financial decisions of these investments.  Additionally, we own interests in single-tenant net leased properties leased to companies through noncontrolling interests in partnerships and limited liability companies that we do not control but over which we exercise significant influence. We account for these investments under the equity method of accounting. At times, the carrying value of our equity investments may fall below zero for certain investments. We intend to fund our share of the jointly-owned investments' future operating deficits should the need arise. However, we have no legal obligation to pay for any of the liabilities of such investments nor do we have any legal obligation to fund operating deficits.  We apply accounting guidance for consolidation of VIEs to certain entities in which the equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties. Fixed price purchase and renewal options within a lease as well as certain decision-making rights within a loan can cause us to consider an entity a VIE.  Information about International Geographic Areas At the end of the reporting period, our international investments were comprised of investments primarily in Asia and in Europe. Foreign currency exposure and risk management are discussed in Note 9. The following tables present information about these investments (in thousands): <div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 309px; text-align:left;border-color:#000000;min-width:309px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:left;border-color:#000000;min-width:84px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:left;border-color:#000000;min-width:84px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 83px; text-align:left;border-color:#000000;min-width:83px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:left;border-color:#000000;min-width:84px;"> </td></tr><tr style="height: 15px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 309px; text-align:left;border-color:#000000;min-width:309px;"> </td><td colspan="5" style="width: 193px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:193px;">Three Months Ended June 30, </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td colspan="5" style="width: 192px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:192px;">Six Months Ended June 30, </td></tr><tr style="height: 15px"><td colspan="2" style="width: 329px; text-align:left;border-color:#000000;min-width:329px;"> </td><td colspan="2" style="width: 94px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:94px;">2013</td><td style="width: 5px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:5px;"> </td><td colspan="2" style="width: 94px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:94px;">2012</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td colspan="2" style="width: 93px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:93px;">2013</td><td style="width: 5px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:5px;"> </td><td colspan="2" style="width: 94px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:94px;">2012</td></tr><tr style="height: 17px"><td colspan="2" style="width: 329px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:329px;">Lease revenues</td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:10px;">$</td><td style="width: 84px; border-top-style:solid;border-top-width:1px;text-align:right;background-color:#CCFFFF;border-color:#000000;min-width:84px;"> 24,454</td><td style="width: 5px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:10px;">$</td><td style="width: 84px; border-top-style:solid;border-top-width:1px;text-align:right;background-color:#CCFFFF;border-color:#000000;min-width:84px;"> 20,764</td><td style="width: 5px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:10px;">$</td><td style="width: 83px; border-top-style:solid;border-top-width:1px;text-align:right;background-color:#CCFFFF;border-color:#000000;min-width:83px;"> 48,755</td><td style="width: 5px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:10px;">$</td><td style="width: 84px; border-top-style:solid;border-top-width:1px;text-align:right;background-color:#CCFFFF;border-color:#000000;min-width:84px;"> 41,636</td></tr><tr style="height: 17px"><td colspan="2" style="width: 329px; text-align:left;border-color:#000000;min-width:329px;">Income from continuing operations before income taxes</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:right;border-color:#000000;min-width:84px;"> 8,969</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:right;border-color:#000000;min-width:84px;"> 10,946</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 83px; text-align:right;border-color:#000000;min-width:83px;"> 19,267</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:right;border-color:#000000;min-width:84px;"> 18,182</td></tr><tr style="height: 17px"><td colspan="2" style="width: 329px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:329px;">Net income attributable to CPA®:17 – Global stockholders (a)</td><td style="width: 10px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:right;background-color:#CCFFFF;border-color:#000000;min-width:84px;"> 9,814</td><td style="width: 5px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:right;background-color:#CCFFFF;border-color:#000000;min-width:84px;"> 10,644</td><td style="width: 5px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:10px;"> </td><td style="width: 83px; text-align:right;background-color:#CCFFFF;border-color:#000000;min-width:83px;"> 19,302</td><td style="width: 5px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:right;background-color:#CCFFFF;border-color:#000000;min-width:84px;"> 17,364</td></tr><tr style="height: 17px"><td colspan="2" style="width: 329px; text-align:left;border-color:#000000;min-width:329px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:left;border-color:#000000;min-width:84px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:left;border-color:#000000;min-width:84px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 83px; text-align:left;border-color:#000000;min-width:83px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:left;border-color:#000000;min-width:84px;"> </td></tr><tr style="height: 17px"><td style="width: 20px; text-align:left;border-color:#000000;min-width:20px;"> </td><td style="width: 309px; text-align:left;border-color:#000000;min-width:309px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:left;border-color:#000000;min-width:84px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:left;border-color:#000000;min-width:84px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td colspan="2" style="width: 93px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:93px;">June 30, 2013</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td colspan="2" style="width: 94px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:94px;">December 31, 2012</td></tr><tr style="height: 17px"><td colspan="2" style="width: 329px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:329px;">Net investments in real estate</td><td style="width: 10px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:84px;"> </td><td style="width: 5px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:84px;"> </td><td style="width: 5px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:10px;">$</td><td style="width: 83px; border-top-style:solid;border-top-width:1px;text-align:right;background-color:#CCFFFF;border-color:#000000;min-width:83px;"> 1,206,502</td><td style="width: 5px; text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; border-top-style:solid;border-top-width:1px;text-align:left;background-color:#CCFFFF;border-color:#000000;min-width:10px;">$</td><td style="width: 84px; border-top-style:solid;border-top-width:1px;text-align:right;background-color:#CCFFFF;border-color:#000000;min-width:84px;"> 1,243,521</td></tr><tr style="height: 17px"><td colspan="2" style="width: 329px; text-align:left;border-color:#000000;min-width:329px;">Non-recourse debt</td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:left;border-color:#000000;min-width:84px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:left;border-color:#000000;min-width:84px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 83px; text-align:right;border-color:#000000;min-width:83px;"> 499,795</td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 84px; text-align:right;border-color:#000000;min-width:84px;"> 498,131</td></tr></table></div>__________<ul><li style="margin-left:18px;list-style:lower-alpha;">Excludes income attributable to noncontrolling interests of $0.2 million for both the three months ended June 30, 2013 and 2012 and $0.4 million for both the six months ended June 30, 2013 and 2012. </li></ul> New Accounting Requirements The following Accounting Standards Updates (“ASUs”) promulgated by the Financial Accounting Standards Board (“FASB”) are applicable to us as indicated:  ASU 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities — In January 2013, the FASB issued an update to ASU 2011-11, Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities. ASU 2013-01 clarifies that the scope of ASU 2011-11 applies to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset in accordance with Section 210-20-45 or Section 815-10-45 or subject to an enforceable master netting or similar arrangement. These amendments did not have a significant impact on our financial position or results of operations and are applicable to us for our interim and annual reports beginning in 2013 and has been applied retrospectively.  ASU 2013-02, Other Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income — In February 2013, the FASB issued ASU 2013-02 requiring entities to disclose additional information about items reclassified out of accumulated other comprehensive income. This ASU impacts the form of our disclosures only, is applicable to us for our interim and annual reports beginning in 2013, and has been applied retrospectively. The related additional disclosures are located in Note 12.  ASU 2013-04, Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date, a Consensus of the FASB Emerging Issues Task Force — In February 2013, the FASB issued ASU 2013-04, which requires entities to measure obligations resulting from joint and several liability arrangements (in our case, tenancy-in-common arrangements, Note 6) for which the total amount of the obligation is fixed as the sum of the amount the entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. This ASU is applicable to us for our interim and annual reports beginning in 2014 and shall be applied retrospectively; however, we elected to adopt this ASU early in 2013 and it did not have a significant impact on our financial position or results of operations for any of the periods presented. ASU 2013-10, Derivatives and Hedging (Topic 815): Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes, a Consensus of the FASB Emerging Issues Task Force — In July 2013, the FASB issued ASU 2013-10, which permits the Fed Funds Effective Swap Rate, also referred to as the “Overnight Index Swap Rate,” to be used as a U.S. benchmark interest rate for hedge accounting purposes under Topic 815, in addition to the U.S. government and London Interbank Offered Rate (“LIBOR”) swap rate. The update also removes the restriction on the use of different benchmark rates for similar hedges. This ASU will be applicable to us for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013.  falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for the general note to the financial statements for the reporting entity which may include, descriptions of the basis of presentation, business description, significant accounting policies, consolidations, reclassifications, new pronouncements not yet adopted and changes in accounting principles.No definition available.false0Organization, Consolidation, Basis of Presentation, Business Description and Accounting PoliciesfalseBasis of PresentationUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.cpa17global.com/role/BasisOfPresentation12