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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Lease revenues:        
Rental income $ 28,010 $ 26,726 $ 85,023 $ 74,628
Interest income from direct financing leases 915 909 2,746 2,789
Total lease revenue 28,925 27,635 87,769 77,417
Operating real estate income 20,811 20,649 60,783 60,345
Other operating income 3,600 3,103 11,047 9,545
Other interest income 1,821 1,814 5,396 5,346
Total revenues 55,157 53,201 164,995 152,653
Operating Expenses        
Depreciation and amortization 16,520 18,926 51,044 56,606
Property expenses 9,753 7,728 29,777 26,147
Operating real estate expenses 9,148 8,593 25,527 25,074
General and administrative 1,920 1,856 5,365 5,337
Acquisition and other expenses 7 0 24 46
Operating Expenses 37,348 37,103 111,737 113,210
Other Income and Expenses        
Interest expense (13,624) (12,430) (39,848) (35,673)
Other gains and (losses) (801) 5,963 5,119 18,084
Equity in losses of equity method investment in real estate (148) (341) (707) (694)
Other Income and Expenses (14,573) (6,808) (35,436) (18,283)
Income before income taxes and gain on sale of real estate 3,236 9,290 17,822 21,160
Benefit from income taxes 58 2,825 771 1,632
Income before gain on sale of real estate 3,294 12,115 18,593 22,792
Gain on sale of real estate, net of tax 52,193 0 52,193 0
Net Income 55,487 12,115 70,786 22,792
Net income attributable to noncontrolling interests (inclusive of Available Cash Distributions to a related party of $1,710, $2,196, $6,445, and $6,057, respectively) (10,003) (2,294) (15,309) (6,568)
Net Income Attributable to CPA:18 – Global 45,484 9,821 55,477 16,224
Class A        
Other Income and Expenses        
Interest expense (100) (100) (200) (400)
Net Income Attributable to CPA:18 – Global $ 35,630 $ 7,759 $ 43,497 $ 12,936
Basic and diluted weighted-average shares outstanding (shares) 113,800,898 110,507,579 112,981,455 109,507,006
Basic and diluted earnings per share (in dollars per share) $ 0.31 $ 0.07 $ 0.38 $ 0.12
Distributions declared per share (in dollars per share) $ 0.1563 $ 0.1563 $ 0.4689 $ 0.4689
Class C        
Other Income and Expenses        
Net Income Attributable to CPA:18 – Global $ 9,854 $ 2,062 $ 11,980 $ 3,288
Basic and diluted weighted-average shares outstanding (shares) 31,654,504 31,322,341 31,563,948 31,041,072
Basic and diluted earnings per share (in dollars per share) $ 0.31 $ 0.07 $ 0.38 $ 0.11
Distributions declared per share (in dollars per share) $ 0.1374 $ 0.1384 $ 0.4127 $ 0.4146