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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues $ 225,759 $ 220,390 $ 429,182 $ 436,229
Expenses        
Depreciation 79,543 67,474 151,105 136,465
Property transactions, net 310 14,426 1,423 18,512
Ground lease and other reimbursable expenses 5,920 32,907 11,840 61,267
Amortization of above market lease, net 0 172 0 343
Acquisition-related expenses 267 2,131 8,799 2,672
General and administrative 3,691 2,755 7,829 6,663
Expenses, net 89,731 119,865 180,996 225,922
Operating income 136,028 100,525 248,186 210,307
Other income (expense)        
Interest income 102 1,278 1,948 2,310
Interest expense (63,977) (49,276) (127,925) (98,506)
Other (363) (3,205) (500) (5,389)
Non-operating income (expense) (64,238) (51,203) (126,477) (101,585)
Income from continuing operations before income taxes 71,790 49,322 121,709 108,722
Provision for income taxes (4,021) (1,263) (3,792) (2,494)
Net income 67,769 48,059 117,917 106,228
Income from discontinued operations 0 0 16,216 0
Net income 67,769 48,059 134,133 106,228
Less: Net income attributable to noncontrolling interest (45,911) (34,913) (92,320) (77,252)
Net Income (Loss) from Continuing Operations Available to Common Shareholders, Basic and Diluted 21,858 13,146 37,031 28,976
Less: Net income attributable to noncontrolling interest (45,911) (34,913) (80,886) (77,252)
Net income attributable to Class A shares - basic and diluted $ 21,858 $ 13,146 $ 41,813 $ 28,976
Weighted average Class A shares outstanding:        
Basic (in shares) 91,011,559 70,993,091 87,544,627 70,982,243
Diluted (in shares) 91,208,398 71,184,996 87,772,714 71,158,585
MGP Operating Partnership        
Revenues $ 225,759 $ 220,390 $ 429,182 $ 436,229
Expenses        
Depreciation 79,543 67,474 151,105 136,465
Property transactions, net 310 14,426 1,423 18,512
Ground lease and other reimbursable expenses 5,920 32,907 11,840 61,267
Amortization of above market lease, net 0 172 0 343
Acquisition-related expenses 267 2,131 8,799 2,672
General and administrative 3,691 2,755 7,829 6,663
Expenses, net 89,731 119,865 180,996 225,922
Operating income 136,028 100,525 248,186 210,307
Other income (expense)        
Interest income 102 1,278 1,948 2,310
Interest expense (63,977) (49,276) (127,925) (98,506)
Other (363) (3,205) (500) (5,389)
Non-operating income (expense) (64,238) (51,203) (126,477) (101,585)
Income from continuing operations before income taxes 71,790 49,322 121,709 108,722
Provision for income taxes (4,021) (1,263) (3,792) (2,494)
Net income 67,769 48,059 117,917 106,228
Income from discontinued operations 0 0 16,216 0
Net income $ 67,769 $ 48,059 $ 134,133 $ 106,228
Weighted average Operating Partnership units outstanding:        
Basic (in shares) 290,714,102 266,127,214 289,537,067 266,116,366
Diluted (in shares) 290,910,941 266,319,119 289,765,154 266,292,708
Net income per Operating Partnership unit (basic) (in dollars per share) $ 0.23 $ 0.18 $ 0.46 $ 0.40
Net income per Operating Partnership unit (diluted) (in dollars per share) 0.23 0.18 0.46 0.40
Class A Shares        
Weighted average Class A shares outstanding:        
Income from continuing operations per Class A share (basic) (in usd per share) 0.24 0.19 0.42 0.41
Income from discontinued operations per Class A share (basic) (in usd per share) 0 0 0.06 0
Income from discontinued operations per Class A share (basic) (in usd per share) 0.24 0.19 0.48 0.41
Income from continuing operations per Class A share (diluted) (in usd per share) 0.24 0.18 0.42 0.41
Income from discontinued operations per Class A share (diluted) (in usd per share) 0 0 0.06 0
Net income per Class A share (diluted) (in usd per share) $ 0.24 $ 0.18 $ 0.48 $ 0.41
Rental revenue        
Revenues $ 219,846 $ 186,563 $ 416,728 $ 373,126
Rental revenue | MGP Operating Partnership        
Revenues 219,846 186,563 416,728 373,126
Other income (expense)        
Less: Net income attributable to noncontrolling interest (67,769)   (117,917)  
Tenant reimbursements and other        
Revenues 5,913 33,827 12,454 63,103
Tenant reimbursements and other | MGP Operating Partnership        
Revenues $ 5,913 $ 33,827 $ 12,454 $ 63,103
Continuing Operations | MGP Operating Partnership        
Weighted average Operating Partnership units outstanding:        
Net income per Operating Partnership unit (basic) (in dollars per share) $ 0.23 $ 0.18 $ 0.41 $ 0.40
Net income per Operating Partnership unit (diluted) (in dollars per share) 0.23 0.18 0.41 0.40
Discontinued Operations | MGP Operating Partnership        
Weighted average Operating Partnership units outstanding:        
Net income per Operating Partnership unit (basic) (in dollars per share) 0 0 0.05 0
Net income per Operating Partnership unit (diluted) (in dollars per share) $ 0 $ 0 $ 0.05 $ 0