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Consolidated Statements of Income (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Lease revenues:        
Rental income $ 72,913 $ 75,368 $ 235,921 $ 218,451
Interest income from direct financing leases 14,554 14,614 43,831 43,519
Total lease revenues 87,467 89,982 279,752 261,970
Other real estate income 9,631 10,792 28,543 37,281
Other operating income 7,054 7,604 20,484 22,175
Other interest income 3,244 1,698 8,135 5,061
Gross Revenues 107,396 110,076 336,914 326,487
Operating Expenses        
Depreciation and amortization 28,637 31,244 87,519 87,559
Property expenses 17,031 17,591 54,361 53,967
General and administrative 3,849 3,895 11,225 12,223
Other real estate expenses 3,114 4,083 9,893 13,966
Acquisition and other expenses 406 1,446 716 6,786
Impairment charges 276 29,183 4,795 29,183
Operating Expenses, Total 53,313 87,442 168,509 203,684
Other Income and Expenses        
Interest expense (21,776) (25,048) (66,619) (75,027)
Other income and (expenses) 6,455 2,715 22,385 7,081
Equity in (losses) earnings of equity method investments in real estate (3,906) 2,780 349 6,532
Loss on extinguishment of debt (13) (15,990) (1,980) (23,580)
Gain on change in control of interests 0   0 49,922
Nonoperating income expense (19,240) (35,543) (45,865) (35,072)
Income (loss) before income taxes and (loss) gain on sale of real estate 34,843 (12,909) 122,540 87,731
Provision for income taxes (994) (2,333) (2,730) (6,530)
Income (loss) before (loss) gain on sale of real estate, net of tax 33,849 (15,242) 119,810 81,201
(Loss) gain on sale of real estate, net of tax (39) 82,287 2,871 132,702
Net Income 33,810 67,045 122,681 213,903
Net income attributable to noncontrolling interests (inclusive of Available Cash Distributions to a related party of $5,459, $5,276, $19,240 and $17,803, respectively) (9,081) (8,827) (29,135) (28,404)
Net Income Attributable to CPA®:17 – Global $ 24,729 $ 58,218 $ 93,546 $ 185,499
Basic and Diluted Earnings Per Share (usd per share) $ 0.07 $ 0.17 $ 0.27 $ 0.54
Basic and Diluted Weighted-Average Shares Outstanding, shares 349,415,725 343,209,362 347,641,667 341,325,683
Distributions Declared Per Share (usd per share) $ 0.1625 $ 0.1625 $ 0.4875 $ 0.4875