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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Lease revenues — net-leased $ 26,167 $ 30,109 $ 48,528 $ 61,023
Lease revenues — operating real estate 16,508 17,297 34,451 34,562
Other operating and interest income 1,253 1,621 3,829 3,736
Revenues 43,928 49,027 86,808 99,321
Operating Expenses        
Depreciation and amortization 14,660 17,180 29,190 32,552
Operating real estate expenses 6,540 6,615 13,264 13,081
Property expenses, excluding reimbursable tenant costs 3,958 4,896 9,042 9,547
Reimbursable tenant costs 3,468 3,230 6,596 7,254
General and administrative 1,956 2,100 3,853 3,859
Allowance for credit losses 0 0 4,865 0
Operating Expenses 30,582 34,021 66,810 66,293
Other Income and Expenses        
Interest expense (10,354) (12,044) (20,843) (24,401)
Other gains and (losses) 1,064 1,302 (1,008) 1,474
Equity in losses of equity method investment in real estate (159) (603) (213) (1,251)
Gain on sale of real estate, net 0 650 0 16,058
Other Income and Expenses (9,449) (10,695) (22,064) (8,120)
Income (loss) before income taxes 3,897 4,311 (2,066) 24,908
(Provision for) benefit from income taxes (1,558) 867 (1,164) (57)
Net Income (Loss) 2,339 5,178 (3,230) 24,851
Net income attributable to noncontrolling interests (inclusive of Available Cash Distributions to a related party of $2,029, $2,105, $3,945, and $3,953, respectively) (3,530) (2,100) (6,141) (6,946)
Net (Loss) Income Attributable to CPA:18 – Global (1,191) 3,078 (9,371) 17,905
Class A        
Other Income and Expenses        
Net (Loss) Income Attributable to CPA:18 – Global $ (922) $ 2,442 $ (7,321) $ 14,095
Basic and diluted weighted-average shares outstanding (shares) 118,482,095 116,210,773 118,225,178 115,855,895
Basic and diluted (loss) earnings per share (in dollars per share) $ (0.01) $ 0.02 $ (0.06) $ 0.12
Class C        
Other Income and Expenses        
Interest expense $ (100) $ (100) $ (100) $ (100)
Net (Loss) Income Attributable to CPA:18 – Global $ (269) $ 636 $ (2,050) $ 3,810
Basic and diluted weighted-average shares outstanding (shares) 32,493,253 32,058,663 32,469,447 31,969,341
Basic and diluted (loss) earnings per share (in dollars per share) $ (0.01) $ 0.02 $ (0.06) $ 0.12