Supplemental Disclosures of Cash Flow Information

6 Months Ended

Jun. 30, 2011

Supplemental Disclosures of Cash Flow Information [Abstract]

Supplemental Disclosures of Cash Flow Information

13. Supplemental Disclosures of Cash Flow Information

Interest paid in the first six months of 2011 was $49.0 million and, in the first six months of 2010, was $41.3 million.

Interest capitalized to properties under development in the first six months of 2011 was $173,000 and, in the first six months of 2010, was $3,000.

Income taxes paid by Realty Income and Crest in the first six months of 2011 was $946,000 and, in the first six months of 2010, was $872,000.

The following non-cash investing and financing activities are included in the accompanying consolidated financial statements:

A.  Share-based compensation expense for the first six months of 2011 was $4.3 million and for the first six months of 2010 was $3.5 million.

B.  See note 10 for a discussion of impairments recorded by Realty Income in discontinued operations, for the first six months of 2011 and 2010.

C.  In the first six months of 2010, we recorded a $799,000 receivable for the sale of an investment property as a result of an eminent domain action and recorded a $600,000 receivable for the sale of excess land from a property held for sale. In June 2011, we recorded an additional $95,000 receivable for the sale of excess land, on this property held for sale, to increase the total receivable to $695,000. These receivables are included in "other assets" on our consolidated balance sheets at June 30, 2011 and December 31, 2010.

D.  As part of the acquisition of three properties during the first six months of 2011, we assumed $58.6 million of mortgages payable to third-party lenders and recorded $957,000 of net premiums. See note 6 for a discussion of these mortgages.

E.  Accrued costs on properties under development resulted in an increase in buildings and improvements and accounts payable of $3.6 million, at June 30, 2011.