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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Lease revenues — net-leased $ 25,805 $ 29,596 $ 74,333 $ 90,619
Lease revenues — operating real estate 16,976 17,405 51,427 51,967
Other operating and interest income 401 2,090 4,230 5,826
Revenues 43,182 49,091 129,990 148,412
Operating Expenses        
Depreciation and amortization 15,565 18,163 44,755 50,715
Operating real estate expenses 7,291 7,370 20,555 20,451
Property expenses, excluding reimbursable tenant costs 4,337 4,751 13,379 14,298
Reimbursable tenant costs 2,261 3,242 8,857 10,496
General and administrative 2,024 2,211 5,877 6,070
Allowance for credit losses 0 0 4,865 0
Operating Expenses 31,478 35,737 98,288 102,030
Other Income and Expenses        
Interest expense (10,815) (11,739) (31,658) (36,140)
Gain on sale of real estate, net 3,285 8,548 3,285 24,606
Other gains and (losses) 1,068 258 60 1,732
Equity in losses of equity method investment in real estate (173) (337) (386) (1,588)
Other Income and Expenses (6,635) (3,270) (28,699) (11,390)
Income before income taxes 5,069 10,084 3,003 34,992
(Provision for) benefit from income taxes (420) 380 (1,584) 323
Net Income 4,649 10,464 1,419 35,315
Net income attributable to noncontrolling interests (inclusive of Available Cash Distributions to a related party of $1,168, $1,619, $5,113, and $5,572, respectively) (1,346) (1,505) (7,487) (8,451)
Net Income (Loss) Attributable to CPA:18 – Global 3,303 8,959 (6,068) 26,864
Class A        
Other Income and Expenses        
Net Income (Loss) Attributable to CPA:18 – Global $ 2,607 $ 7,048 $ (4,719) $ 21,145
Basic and diluted weighted-average shares outstanding (shares) 118,715,886 116,843,927 118,389,942 116,188,858
Basic and diluted earnings (loss) per share (in dollars per share) $ 0.02 $ 0.06 $ (0.04) $ 0.18
Class C        
Other Income and Expenses        
Interest expense $ (100) $ (100)   $ (100)
Net Income (Loss) Attributable to CPA:18 – Global $ 696 $ 1,911 $ (1,349) $ 5,719
Basic and diluted weighted-average shares outstanding (shares) 32,442,454 32,226,626 32,460,383 32,056,045
Basic and diluted earnings (loss) per share (in dollars per share) $ 0.02 $ 0.06 $ (0.04) $ 0.18