XML 32 R20.htm IDEA: XBRL DOCUMENT v3.20.2
(Loss) Earnings Per Share and Equity
 6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
(Loss) Earnings Per Share and Equity (Loss) Earnings Per Share and Equity

Basic and Diluted (Loss) Earnings Per Share

The following table presents (loss) earnings per share (in thousands, except share and per share amounts):
 
Three Months Ended June 30,
 
2020
 
2019
 
Basic and Diluted Weighted-Average
Shares Outstanding
 
Allocation of Net Loss
 
Basic and Diluted Loss Per Share 
 
Basic and Diluted Weighted-Average
Shares Outstanding
 
Allocation of Net Income
 
Basic and Diluted Earnings Per Share 
Class A common stock
118,482,095

 
$
(922
)
 
$
(0.01
)
 
116,210,773

 
$
2,442

 
$
0.02

Class C common stock
32,493,253

 
(269
)
 
(0.01
)
 
32,058,663

 
636

 
0.02

Net (loss) income attributable to CPA:18 – Global
 
 
$
(1,191
)
 
 
 
 
 
$
3,078

 
 


 
Six Months Ended June 30,
 
2020
 
2019
 
Basic and Diluted Weighted-Average
Shares Outstanding
 
Allocation of Net Loss
 
Basic and Diluted Loss Per Share 
 
Basic and Diluted Weighted-Average
Shares Outstanding
 
Allocation of Net Income
 
Basic and Diluted Earnings Per Share 
Class A common stock
118,225,178

 
$
(7,321
)
 
$
(0.06
)
 
115,855,895

 
$
14,095

 
$
0.12

Class C common stock
32,469,447

 
(2,050
)
 
(0.06
)
 
31,969,341

 
3,810

 
0.12

Net (loss) income attributable to CPA:18 – Global
 
 
$
(9,371
)
 
 
 
 
 
$
17,905

 
 


The allocation of Net (loss) 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 the accretion of interest on the annual distribution and shareholder servicing fee liability of less than $0.1 million for both the three and six months ended June 30, 2020 and 2019 (Note 3).

Distributions

For the three months ended June 30, 2020, our board of directors declared quarterly distributions of $0.0625 per share for our Class A common stock and $0.0438 per share for our Class C common stock, which were paid on July 15, 2020 to stockholders of record on June 30, 2020, in the amount of $8.8 million.

During the six months ended June 30, 2020, we declared distributions totaling $0.2188 and $0.1820 per share for our Class A and Class C common stock, respectively.

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, 2020
 
Gains and (Losses) on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Total
Beginning balance
$
(1,685
)
 
$
(78,227
)
 
$
(79,912
)
Other comprehensive income before reclassifications
(899
)
 
12,306

 
11,407

Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
Other gains and (losses)
(499
)
 
—

 
(499
)
Interest expense
454

 
—

 
454

Net current-period other comprehensive income
(944
)
 
12,306

 
11,362

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

 
(1,396
)
 
(1,396
)
Ending balance
$
(2,629
)
 
$
(67,317
)
 
$
(69,946
)

 
Three Months Ended June 30, 2019
 
Gains and (Losses) on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Total
Beginning balance
$
1,977

 
$
(56,892
)
 
$
(54,915
)
Other comprehensive income before reclassifications
(1,575
)
 
3,658

 
2,083

Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
Other gains and (losses)
(377
)
 
—

 
(377
)
Interest expense
(19
)
 
—

 
(19
)
Net current-period other comprehensive income
(1,971
)
 
3,658

 
1,687

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

 
(331
)
 
(331
)
Ending balance
$
6

 
$
(53,565
)
 
$
(53,559
)

 
Six Months Ended June 30, 2020
 
Gains and (Losses) on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Total
Beginning balance
$
138

 
$
(56,673
)
 
$
(56,535
)
Other comprehensive loss before reclassifications
(2,520
)
 
(11,776
)
 
(14,296
)
Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
Other gains and (losses)
(897
)
 
—

 
(897
)
Interest expense
650

 
—

 
650

Net current-period other comprehensive loss
(2,767
)
 
(11,776
)
 
(14,543
)
Net current-period other comprehensive loss attributable to noncontrolling interests
—

 
1,132

 
1,132

Ending balance
$
(2,629
)
 
$
(67,317
)
 
$
(69,946
)

 
Six Months Ended June 30, 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
(1,432
)
 
(584
)
 
(2,016
)
Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
Other gains and (losses)
(734
)
 
—

 
(734
)
Interest expense
(43
)
 
—

 
(43
)
Net current-period other comprehensive loss
(2,209
)
 
(584
)
 
(2,793
)
Net current-period other comprehensive income attributable to noncontrolling interests
—

 
(173
)
 
(173
)
Ending balance
$
6

 
$
(53,565
)
 
$
(53,559
)


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