Segment Reporting

3 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

We operate in two reportable business segments: Net Lease and Self Storage. Our Net Lease segment includes our investments in net-leased properties, whether they are accounted for as operating or direct financing leases. Our Self Storage segment is comprised of our investments in self-storage properties. In addition, we have an All Other category that includes our multi-family investments and our investment in a note receivable (Note 1). The following tables present a summary of comparative results and assets for these business segments (in thousands):

	Three Months Ended March 31,
	2016			2015
Net Lease
Revenues	$	27,462		$	20,354
Operating expenses	(15,284		)	(11,132		)
Interest expense	(7,317		)	(5,775		)
Other income and expenses, excluding interest expense	71			253
Provision for income taxes	(179		)	(326		)
Loss on sale of real estate, net of tax	(63		)	—
Net income attributable to noncontrolling interests	(459		)	(496		)
Income attributable to CPA®:18 – Global	$	4,231		$	2,878
Self Storage
Revenues	$	10,309		$	3,360
Operating expenses	(13,748		)	(6,202		)
Interest expense	(2,261		)	(675		)
Other income and expenses, excluding interest expense	(8		)	—
Provision for income taxes	(35		)	(8		)
Loss attributable to CPA®:18 – Global	$	(5,743	)	$	(3,525	)
All Other
Revenues	$	6,027		$	3,458
Operating expenses	(3,917		)	(6,510		)
Interest expense	(1,208		)	(611		)
(Provision for) benefit from income taxes	(28		)	7
Net (income) loss attributable to noncontrolling interests	(5		)	29
Income (loss) attributable to CPA®:18 – Global	$	869		$	(3,627	)
Corporate
Unallocated Corporate Overhead (a)	$	(277	)	$	(7,045	)
Net income attributable to noncontrolling interests – Available Cash Distributions	$	(1,277	)	$	(894	)
Total Company
Revenues	$	43,798		$	27,172
Operating expenses	(37,483		)	(27,113		)
Interest expense	(10,360		)	(8,086		)
Other income and expenses, excluding interest expense	3,985			(2,498		)
Provision for income taxes	(333		)	(327		)
Loss on sale of real estate, net of tax	(63		)	—
Net income attributable to noncontrolling interests	(1,741		)	(1,361		)
Loss attributable to CPA®:18 – Global	$	(2,197	)	$	(12,213	)

	Total Long-Lived Assets				Total Assets
	March 31, 2016		December 31, 2015		March 31, 2016		December 31, 2015 (b)
Net Lease	$	1,159,877	$	1,105,237	$	1,506,409	$	1,446,865
Self Storage	332,898		314,247		381,249		363,284
All Other	234,579		227,644		244,537		238,240
Corporate	—		—		94,920		86,294
Total Company	$	1,727,354	$	1,647,128	$	2,227,115	$	2,134,683

__________

(a) Included in unallocated corporate overhead are asset management fees and general and administrative expenses. These expenses are calculated and reported at the portfolio level and not evaluated as part of any segment’s operating performance.

(b) In accordance with ASU 2015-03, we reclassified deferred financing costs from Other assets, net to Non-recourse debt, net and Bonds payable, net as of December 31, 2015 (Note 3)