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Earnings Per Share and Equity
 12 Months Ended
Dec. 31, 2021
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):
Year Ended December 31, 2021
Basic and Diluted Weighted-Average Shares OutstandingAllocation of Net IncomeBasic and Diluted Earnings Per Share 
Class A common stock120,077,202 $21,990 $0.18 
Class C common stock31,972,362 5,856 0.18 
Net income attributable to CPA:18 – Global$27,846 
Year Ended December 31, 2020
Basic and Diluted Weighted-Average Shares OutstandingAllocation of Net IncomeBasic and Diluted Earnings Per Share 
Class A common stock118,567,905 $9,737 $0.08 
Class C common stock32,402,493 2,606 0.08 
Net income attributable to CPA:18 – Global
$12,343 
Year Ended December 31, 2019
Basic and Diluted Weighted-Average Shares OutstandingAllocation of Net IncomeBasic and Diluted Earnings Per Share 
Class A common stock116,469,007 $25,636 $0.22 
Class C common stock32,123,513 6,936 0.22 
Net income attributable to CPA:18 – Global
$32,572 

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 the accretion of interest on the annual distribution and shareholder servicing fee liability, which was less than $0.1 million and $0.2 million for the years ended December 31, 2020, and 2019, respectively. As of December 31, 2021 and 2020, we have no further obligation with respect to the distribution and shareholder servicing fee as the total underwriting compensation paid in respect to the offering reached the Financial Industry Regulatory Authority (“FINRA”) limit of 10.0% of the gross offering proceeds. As a result, interest expense related to the accretion of the distribution and shareholder servicing fee will no longer impact the Class C common stock.
Distributions

Distributions paid to stockholders consist of ordinary income, capital gains, return of capital or a combination thereof for income tax purposes. Our distributions per share are summarized as follows:
Years Ended December 31,
202120202019
Class AClass CClass AClass CClass AClass C
Ordinary income$0.2686 $0.2686 $0.1490 $0.1241 $0.1251 $0.1101 
Capital gain0.2439 0.2439 0.1423 0.1185 0.1339 0.1178 
Return of capital— — 0.1463 0.1218 0.3662 0.3220 
Total distributions paid$0.5125 $0.5125 $0.4376 $0.3644 $0.6252 $0.5499 

Distributions are declared at the discretion of our board of directors and are not guaranteed. During the fourth quarter of 2021, our board of directors declared quarterly distributions of $0.0625 per share for both our Class A common stock and Class C common stock, which were paid on January 14, 2022 to stockholders of record on December 31, 2021. We paid $9.3 million of aggregate quarterly distributions declared during the fourth quarter of 2021. In addition, during the fourth quarter of 2021, we declared an all-cash special distribution of $0.2000 per share for both Class A and Class C stock, paid on December 16, 2021 to stockholders of record at December 9, 2021 (with proceeds from the disposition of certain assets), totaling $30.5 million.

During the year ended December 31, 2021, our board of directors declared distributions in the aggregate amount of $54.0 million for our Class A common stock and $14.2 million for our Class C common stock, which equates to $0.4500 per share for both Class A and Class C common stock.
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):
Gains and Losses
on Derivative Instruments		Foreign Currency Translation AdjustmentsTotal
Balance at January 1, 2019$2,215 $(52,808)$(50,593)
Other comprehensive loss before reclassifications(521)(4,509)(5,030)
Amounts reclassified from accumulated other comprehensive loss to:
Other gains and (losses)(1,707)— (1,707)
Interest expense149 — 149 
Net current-period Other comprehensive loss(2,079)(4,509)(6,588)
Net current-period Other comprehensive loss attributable to noncontrolling interests
2 644 646 
Balance at December 31, 2019138 (56,673)(56,535)
Other comprehensive income before reclassifications(4,076)43,772 39,696 
Amounts reclassified from accumulated other comprehensive loss to:
Other gains and (losses)(1,522)— (1,522)
Interest expense2,079 — 2,079 
Net current-period Other comprehensive income(3,519)43,772 40,253 
Net current-period Other comprehensive income attributable to noncontrolling interests18 (3,666)(3,648)
Balance at December 31, 2020(3,363)(16,567)(19,930)
Other comprehensive loss before reclassifications1,255 (36,960)(35,705)
Amounts reclassified from accumulated other comprehensive loss to:
Interest expense1,550 — 1,550 
Other gains and (losses)(292)— (292)
Net current-period Other comprehensive loss2,513 (36,960)(34,447)
Net current-period Other comprehensive loss attributable to noncontrolling interests(12)2,595 2,583 
Balance at December 31, 2021$(862)$(50,932)$(51,794)

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