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Consolidated Statements of Income (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Lease revenues:        
Rental income $ 74,179 $ 71,754 $ 148,870 $ 163,008
Interest income from direct financing leases 14,668 14,581 29,308 29,277
Total lease revenues 88,847 86,335 178,178 192,285
Operating real estate income 11,786 9,575 23,999 18,912
Other interest income 5,003 3,151 9,566 4,891
Other operating income 4,190 7,452 11,365 13,430
Gross revenues 109,826 106,513 223,108 229,518
Operating Expenses        
Depreciation and amortization 27,781 28,063 56,231 58,882
Property expenses 24,386 20,725 47,423 37,330
Operating real estate expenses 8,912 3,427 16,529 6,779
Impairment charges and other credit losses 6,168 0 11,572 4,519
General and administrative 3,419 3,806 6,538 7,376
Merger and other expenses 2,300 (440) 2,357 310
Operating expenses 72,966 55,581 140,650 115,196
Other Income and Expenses        
Interest expense (20,801) (21,453) (41,351) (44,843)
Equity in earnings of equity method investments in real estate 11,145 2,270 15,828 4,255
Other gains and (losses) 1,168 10,273 5,171 15,930
Loss on extinguishment of debt 0 (353) 0 (1,967)
Other Income and Expenses (8,488) (9,263) (20,352) (26,625)
Income before income taxes and gain on sale of real estate 28,372 41,669 62,106 87,697
(Provision for) benefit from income taxes (1,071) (1,115) 332 (1,736)
Income before gain on sale of real estate, net of tax 27,301 40,554 62,438 85,961
Gain on sale of real estate, net of tax 0 1,171 24 2,910
Net Income 27,301 41,725 62,462 88,871
Net income attributable to noncontrolling interests (inclusive of Available Cash Distributions to a related party of $5,185, $6,971, $11,355 and $13,781, respectively) (7,746) (10,919) (16,170) (20,054)
Net Income Attributable to CPA:17 – Global $ 19,555 $ 30,806 $ 46,292 $ 68,817
Basic and Diluted Earnings Per Share (usd per share) $ 0.06 $ 0.09 $ 0.13 $ 0.20
Basic and Diluted Weighted-Average Shares Outstanding, shares 353,824,796 347,672,836 352,966,643 346,739,936
Distributions Declared Per Share (usd per share) $ 0.1625 $ 0.1625 $ 0.325 $ 0.3250