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Loss Per Share and Equity
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Loss Per Share and Equity
Loss Per Share and Equity

The following tables depict loss per share for the period presented (in thousands, except share and per share amounts):
 
Three Months Ended June 30, 2014
 
Weighted-Average
Shares Outstanding 
 
Allocation of Net Loss (a) 
 
Loss
Per Share 
Class A common stock
77,300,223

 
$
(3,760
)
 
$
(0.05
)
Class C common stock
6,126,012

 
(439
)
 
(0.07
)
Net loss attributable to CPA®:18 – Global
 
 
$
(4,199
)
 

 
Six Months Ended June 30, 2014
 
Weighted-Average
Shares Outstanding 
 
Allocation of Net Loss (a) 
 
Loss
Per Share 
Class A common stock
57,778,351

 
$
(16,761
)
 
$
(0.29
)
Class C common stock
4,979,591

 
(1,674
)
 
(0.34
)
Net loss attributable to CPA®:18 – Global

 
$
(18,435
)
 

 
Three and Six Months Ended June 30, 2013
 
Weighted-Average
Shares Outstanding 
 
Allocation of Net Loss
 
Loss
Per Share 
Class A common stock
23,222

 
$
(65
)
 
$
(2.81
)
Class C common stock
—

 
—

 
—

Net loss attributable to CPA®:18 – Global
 
 
$
(65
)
 
 
__________
(a)
The allocation of Net loss attributable to CPA®:18 – Global is calculated based on the weighted-average shares outstanding for Class A common stock and Class C common stock for each respective period. For the three and six months ended June 30, 2014, the allocation for the Class A common stock excludes the shareholder servicing fee of $0.1 million and $0.2 million, respectively, that is only applicable to holders of Class C common stock (Note 3).

Subsequent to June 30, 2014 and through July 31, 2014, we issued an additional 1,748,004 shares of Class A common stock and an additional 1,484,667 shares of Class C common stock in our initial public offering.

Proceeds from certain of the shares that we sold are held in escrow and considered unsettled until such time as all contingencies have been removed and the buyer has voting rights, or approximately three days. At June 30, 2014, 606,865 of the Class A shares that were sold remained unsettled. Net cash provided by financing activities for the six months ended June 30, 2014 does not include $13.8 million of shares sold but not settled (net of costs).

Distributions

On June 18, 2014, our board of directors declared distributions at a daily rate of $0.0016983 for our Class A common stock and $0.0014442 for our Class C common stock for the quarter ending September 30, 2014, payable on or about October 15, 2014 to stockholders of record on each day of the quarter.

During the second quarter of 2014, our board of directors declared distributions at a daily rate of $0.0017170 or our Class A common stock and $0.0014601 for our Class C common stock for the quarter ending June 30, 2014. The distributions in the amount of $12.8 million were paid on July 15, 2014 to the stockholders of record on June 30, 2014.

Distributions are declared at the discretion of our board of directors and are not guaranteed. Until we substantially invest the net proceeds of our initial public offering, we expect that distributions will be paid primarily from offering proceeds, which reduces amounts available to invest in properties and could lower our overall return.

Reclassifications Out of Accumulated Other Comprehensive Loss

The following tables present a reconciliation of changes in Accumulated other comprehensive loss by component for the periods presented (in thousands):
 
Three Months Ended June 30, 2014
 
Unrealized
Gains (Losses)
on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Total
Beginning balance
$
(882
)
 
$
(12
)
 
$
(894
)
Other comprehensive income (loss) before reclassifications
(292
)
 
(1,832
)
 
(2,124
)
Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
Interest expense
(177
)
 
—

 
(177
)
Net current-period Other comprehensive income
(469
)
 
(1,832
)
 
(2,301
)
Net current-period Other comprehensive loss attributable to noncontrolling interests
—

 
175

 
175

Ending balance
$
(1,351
)
 
$
(1,669
)
 
$
(3,020
)

 
Six Months Ended June 30, 2014
 
Unrealized
Gains (Losses)
on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Total
Beginning balance
$
(219
)
 
$
125

 
$
(94
)
Other comprehensive income (loss) before reclassifications
(844
)
 
(2,293
)
 
(3,137
)
Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
Interest expense
(288
)
 
—

 
(288
)
Net current-period Other comprehensive income
(1,132
)
 
(2,293
)
 
(3,425
)
Net current-period Other comprehensive loss attributable to noncontrolling interests
—

 
499

 
499

Ending balance
$
(1,351
)
 
$
(1,669
)
 
$
(3,020
)

There were no reclassifications out of Accumulated other comprehensive loss for the three and six months ended June 30, 2013.