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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Revenues $ 402,010 $ 389,501 $ 1,187,818 $ 1,141,867
Operating expenses        
Depreciation, depletion, and amortization 29,403 28,875 87,861 87,196
Selling, general and administrative 28,517 36,432 87,947 84,736
Loss (gain) from sale of real estate 12 83 (8,372) 83
Impairment of long-lived assets 0 0 747 8,773
Total operating expenses 358,457 362,059 1,059,030 1,048,917
Operating income 43,553 27,442 128,788 92,950
Other income (expense)        
(Loss) income from investments in partially owned entities (437) 9 (324) (1,342)
Impairment of investments in partially owned entities 0 0 0 (6,496)
Interest expense (22,834) (29,218) (70,258) (85,233)
Interest income 877 218 2,610 785
Loss on debt extinguishment and modification 0 (386) (21,385) (986)
Foreign currency exchange gain (loss) 734 (1,045) 2,926 (3,870)
Other income (expense), net 96 148 184 (1,061)
Income (loss) before income tax benefit (expense) 21,989 (2,832) 42,541 (5,253)
Income tax benefit (expense):        
Current (3,063) 2,124 (672) 7,734
Deferred (512) 349 2,093 4,379
Total income tax benefit (expense) 2,551 (1,775) 2,765 (3,355)
Net income (loss) 24,540 (4,607) 45,306 (8,608)
Less distributions on preferred shares of beneficial interest - Series A 0 (8) (1) (8)
Less distributions on preferred shares of beneficial interest - Series B 0 (7,108) (1,817) (21,326)
Less accretion on preferred shares of beneficial interest - Series B 0 (218) 0 (657)
Net income (loss) attributable to common shares of beneficial interest $ 24,540 $ (11,941) $ 43,488 $ (30,599)
Weighted average common shares outstanding – basic (in shares) 144,948 70,049 138,438 70,012
Weighted average common shares outstanding – diluted (in shares) 147,626 70,049 141,191 70,012
Net income (loss) per common share of beneficial interest - basic (in USD per share) $ 0.17 $ (0.17) $ 0.31 $ (0.44)
Net income (loss) per common share of beneficial interest - diluted (in USD per share) $ 0.17 $ (0.17) $ 0.31 $ (0.44)
Operating Segments        
Revenues        
Revenues $ 402,010 $ 389,501 $ 1,187,818 $ 1,141,867
Operating expenses        
Operating income 101,485 92,832 296,971 273,738
Operating Segments | Rent, storage, and warehouse services revenues        
Revenues        
Revenues 297,225 290,593 871,454 848,064
Operating expenses        
Cost of operations 203,587 204,519 597,411 593,665
Operating income 93,638 86,074 274,043 254,399
Operating Segments | Third-party managed services        
Revenues        
Revenues 62,551 60,556 192,182 178,561
Operating expenses        
Cost of operations 58,997 57,345 180,993 168,879
Operating income 3,554 3,211 11,189 9,682
Operating Segments | Transportation services        
Revenues        
Revenues 40,193 35,688 117,427 107,665
Operating expenses        
Cost of operations 36,045 32,597 106,099 97,932
Operating income 4,148 3,091 11,328 9,733
Operating Segments | Other revenues        
Revenues        
Revenues 2,041 2,664 6,755 7,577
Operating expenses        
Cost of operations 1,896 2,208 6,344 7,653
Operating income $ 145 $ 456 $ 411 $ (76)