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Loss Per Share and Equity
 12 Months Ended
Dec. 31, 2014
Earnings Per Share [Abstract]  
Loss Per Share and Equity
Loss Per Share and Equity

Loss Per Share

The following tables present loss per share (in thousands, except share and per share amounts):
 
Year Ended December 31, 2014
 
Weighted-Average
Shares Outstanding 
 
Allocation of Net Loss
 
Loss
Per Share 
Class A common stock
78,777,525

 
$
(49,494
)
 
$
(0.63
)
Class C common stock
8,847,966

 
(6,373
)
 
(0.72
)
Net loss attributable to CPA®:18 – Global
 
 
$
(55,867
)
 

 
Year Ended December 31, 2013
 
Weighted-Average
Shares Outstanding 
 
Allocation of Net Loss
 
Loss
Per Share 
Class A common stock
2,792,648

 
$
(496
)
 
$
(0.18
)
Class C common stock
497,725

 
(135
)
 
(0.27
)
Net loss attributable to CPA®:18 – Global

 
$
(631
)
 



The allocation of Net loss attributable to CPA®:18 – Global is calculated based on weighted-average shares outstanding for Class A common stock and Class C common stock for each respective period. For the years ended December 31, 2014 and 2013, the allocation for the Class A common stock excludes the shareholder servicing fee of $0.8 million and less than $0.1 million, respectively, which is only applicable to holders of Class C common stock (Note 3).

Subsequent to December 31, 2014 and through March 23, 2015, we issued an additional 870,829 shares of Class A common stock and 9,240,744 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. Net cash used in financing activities for the year ended December 31, 2014 does not include $1.5 million of shares sold but not settled (net of costs).

Distributions

Distributions paid to stockholders consist of ordinary income, capital gains, return of capital or a combination thereof for income tax purposes. The following table presents annualized distributions per share reported for tax purposes and serves as a designation of capital gain distributions, if applicable, pursuant to Internal Revenue Code Section 857(b)(3)(C) and Treasury Regulation § 1.857-6(e):
 
Years Ended December 31,
 
2014
 
2013
 
Class A
 
Class C
 
Class A
 
Class C
Ordinary income
$
0.2164

 
$
0.1841

 
$
—

 
$
—

Return of capital
0.4084

 
0.3475

 
0.1155

 
0.0982

Total distributions paid
$
0.6248

 
$
0.5316

 
$
0.1155

 
$
0.0982



On September 19, 2014, our board of directors declared distributions at a daily rate of $0.0016983 per share for our Class A common stock and $0.0014442 per share for our Class C common stock for the quarter ending December 31, 2014. The distributions in the amount of $17.6 million were paid on January 15, 2015 to stockholders of record on each day during the period.

On December 15, 2014, our board of directors declared distributions at a daily rate of $0.0016983 per share for our Class A common stock and $0.0014442 per share for our Class C common stock for the quarter ending March 31, 2015, payable on or about April 15, 2015 to stockholders of record on each day of the quarter.

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 substantially from offering proceeds, which reduces amounts available to invest in properties and could lower our overall return.

Accumulated Other Comprehensive Loss
 
The following table presents the components of Accumulated other comprehensive loss reflected in equity, net of tax. Amounts include our proportionate share of other comprehensive loss from our unconsolidated investments (in thousands):
 
 
December 31,
 
 
2014
 
2013
Foreign currency translation adjustments
 
$
(22,093
)
 
$
125

Net unrealized gain (loss) on derivative instruments
 
1,152

 
(219
)
Accumulated other comprehensive loss
 
$
(20,941
)
 
$
(94
)


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):
 
Year Ended December 31, 2014
 
Gains and Losses
on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Total
Beginning balance
$
(219
)
 
$
125

 
$
(94
)
Other comprehensive income (loss) before reclassifications
763

 
(29,602
)
 
(28,839
)
Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
Interest expense
759

 
—

 
759

Other income and (expenses)
(151
)
 
—

 
(151
)
Total
608

 
—

 
608

Net current-period Other comprehensive income
1,371

 
(29,602
)
 
(28,231
)
Net current-period Other comprehensive loss attributable to noncontrolling interests
—

 
7,384

 
7,384

Ending balance
$
1,152

 
$
(22,093
)
 
$
(20,941
)
 
Year Ended December 31, 2013
 
Gains and Losses
on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Total
Beginning balance
$
—

 
$
—

 
$
—

Other comprehensive income (loss) before reclassifications
(219
)
 
156

 
(63
)
Net current-period Other comprehensive income
(219
)
 
156

 
(63
)
Net current-period Other comprehensive loss attributable to noncontrolling interests
—

 
(31
)
 
(31
)
Ending balance
$
(219
)
 
$
125

 
$
(94
)