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Earnings Per Share and Equity
 3 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Share and Equity
Earnings Per Share and Equity

Basic and Diluted Earnings Per Share

The following table presents earnings per share (in thousands, except share and per share amounts):
 
Three Months Ended March 31, 2019
 
Three Months Ended March 31, 2018
 
Basic and Diluted Weighted-Average
Shares Outstanding
 
Allocation of Net Income
 
Basic and Diluted Earnings Per Share 
 
Basic and Diluted Weighted-Average
Shares Outstanding
 
Allocation of Net Income
 
Basic and Diluted Earnings Per Share 
Class A common stock
115,497,094

 
$
11,654

 
$
0.10

 
112,113,960

 
$
8,110

 
$
0.07

Class C common stock
31,879,027

 
3,173

 
0.10

 
31,441,399

 
2,217

 
0.07

Net income attributable to CPA:18 – Global
 
 
$
14,827

 
 
 
 
 
$
10,327

 
 


The allocation of Net income attributable to CPA:18 – Global is calculated based on the basic and diluted weighted-average shares outstanding for Class A and Class C common stock for each respective period. The Class C common stock allocation includes interest expense related to accretion of interest on the annual distribution and shareholder servicing fee liability of less than $0.1 million and $0.1 million for the three months ended March 31, 2019 and 2018, respectively (Note 3).

Distributions

Distributions are declared at the discretion of our board of directors and are not guaranteed. For the three months ended March 31, 2019, our board of directors declared quarterly distributions of $0.1563 per share for our Class A common stock and $0.1373 per share for our Class C common stock, which was paid on April 15, 2019 to stockholders of record on March 29, 2019, in the amount of $22.4 million.

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 March 31, 2019
 
Gains and (Losses) on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Total
Beginning balance
$
2,215

 
$
(52,808
)
 
$
(50,593
)
Other comprehensive loss before reclassifications
143

 
(4,242
)
 
(4,099
)
Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
Other gains and (losses)
(357
)
 
—

 
(357
)
Interest expense
(24
)
 
—

 
(24
)
Net current-period other comprehensive loss
(238
)
 
(4,242
)
 
(4,480
)
Net current-period other comprehensive loss attributable to noncontrolling interests
—

 
158

 
158

Ending balance
$
1,977

 
$
(56,892
)
 
$
(54,915
)

 
Three Months Ended March 31, 2018
 
Gains and (Losses) on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Total
Beginning balance
$
(1,082
)
 
$
(32,130
)
 
$
(33,212
)
Other comprehensive income before reclassifications
(705
)
 
11,577

 
10,872

Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
Interest expense
114

 
—

 
114

Other gains and (losses)
(68
)
 
—

 
(68
)
Net current-period other comprehensive income
(659
)
 
11,577

 
10,918

Net current-period other comprehensive income attributable to noncontrolling interests
—

 
(1,617
)
 
(1,617
)
Ending balance
$
(1,741
)
 
$
(22,170
)
 
$
(23,911
)

See Note 8 for additional information on our derivative activity recognized within Other comprehensive (loss) income for the periods presented.