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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Total revenues $ 482,522 $ 438,460 $ 966,591 $ 831,539
Operating expenses:        
Depreciation, depletion and amortization 52,399 40,437 104,003 70,533
Selling, general and administrative 32,340 32,669 69,233 63,786
Acquisition, litigation and other 2,801 17,964 4,489 26,457
Impairment of long-lived assets 3,667 930 3,667 13,485
(Gain) loss from sale of real estate (19,414) 34 (21,875) 34
Total operating expenses 425,977 409,375 862,368 786,037
Operating income 56,545 29,085 104,223 45,502
Other income (expense):        
Interest expense (23,178) (24,098) (47,048) (45,674)
Interest income 261 2,405 848 3,408
Bridge loan commitment fees 0 (2,665) 0 (2,665)
Loss on debt extinguishment and modifications 0 0 (781) 0
Foreign currency exchange gain (loss), net 315 (83) (177) (23)
Other income (expense), net 44 (591) 915 (758)
(Loss) income from investments in partially owned entities (129) (68) (156) 54
Income (loss) before income tax (expense) benefit 33,858 3,985 57,824 (156)
Income tax (expense) benefit:        
Current (2,163) (2,446) (4,720) (3,994)
Deferred 967 3,352 3,069 4,412
Total income tax (expense) benefit (1,196) 906 (1,651) 418
Net income $ 32,662 $ 4,891 $ 56,173 $ 262
Weighted average common shares outstanding – basic (in shares) 201,787 182,325 201,294 165,869
Weighted average common shares outstanding – diluted (in shares) 205,298 186,117 204,587 169,305
Net income per common share of beneficial interest - basic (in USD per share) $ 0.16 $ 0.03 $ 0.28 $ 0.00
Net income per common share of beneficial interest - diluted (in USD per share) $ 0.16 $ 0.03 $ 0.27 $ 0.00
Operating Segments        
Revenues:        
Total revenues $ 482,522 $ 438,460 $ 966,591 $ 831,539
Operating expenses:        
Operating income 128,338 121,119 263,740 219,797
Operating Segments | Rent, storage and warehouse services        
Revenues:        
Total revenues 372,411 338,231 753,479 627,846
Operating expenses:        
Cost of operations 252,279 224,414 506,574 423,210
Operating income 120,132 113,817 246,905 204,636
Operating Segments | Third-party managed services        
Revenues:        
Total revenues 72,954 61,515 137,875 125,651
Operating expenses:        
Cost of operations 69,655 58,711 130,807 119,588
Operating income 3,299 2,804 7,068 6,063
Operating Segments | Transportation services        
Revenues:        
Total revenues 34,861 36,492 70,778 73,588
Operating expenses:        
Cost of operations 30,089 32,286 61,201 65,026
Operating income 4,772 4,206 9,577 8,562
Operating Segments | Other        
Revenues:        
Total revenues 2,296 2,222 4,459 4,454
Operating expenses:        
Cost of operations 2,161 1,930 4,269 3,918
Operating income $ 135 $ 292 $ 190 $ 536