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Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2018
Accounting Policies [Abstract]  
Schedule of cumulative effect adjustments resulting from the adoption of ASU 2014-09
The cumulative effect adjustments resulting from the adoption of ASU 2014-09 as of January 1, 2018 were as follows:
    
(amounts in thousands)
 
Balance at December 31, 2017
 
Adjustment due to ASU 2014-09 Adoption
 
Balance at January 1, 2018
Assets
 
 
 
 
 
 
Deferred commission expense
 
$
31,443

 
$
8,200

 
$
39,643

Liabilities
 
 
 
 
 
 
Deferred revenue-upfront payment from right-to-use contracts
 
$
85,596

 
$
23,386

 
$
108,982

Equity
 
 
 
 
 
 
Distribution in excess of accumulated earnings
 
$
(211,980
)
 
$
(15,186
)
 
$
(227,166
)
The impact of ASU 2014-09 on the Company’s Consolidated Statements of Income and Comprehensive Income for the quarter ended June 30, 2018 was as follows:
(amounts in thousands, except per share data)
 
As Reported
 
Balances Without Adoption of ASU 2014-09 (a)
 
Effect of Change Higher/(Lower)
Revenues
 
 
 
 
 
 
Right-to-use contract upfront payments, deferred, net
 
$
(2,021
)
 
$
(1,286
)
 
$
735

Total revenues
 
$
240,502

 
$
241,237

 
$
(735
)
 
 
 
 
 
 


Expenses
 
 
 
 
 


Right-to-use contract commissions, deferred, net
 
$
(262
)
 
$
(43
)
 
$
219

Total expenses
 
$
192,946

 
$
193,165

 
$
(219
)
 
 
 
 
 
 


Consolidated net income
 
$
49,169

 
$
49,685

 
$
(516
)
Net income available for Common Stockholders
 
$
46,137

 
$
46,629

 
$
(492
)
Earnings per Common Share - Basic
 
$
0.52

 
$
0.53

 
$
(0.01
)
Earnings per Common Share - Fully Diluted
 
$
0.52

 
$
0.53

 
$
(0.01
)
_____________________
(a) Represents the amounts that would have been reported under GAAP that existed prior to the January 1, 2018 adoption of ASU 2014-09.

The impact of ASU 2014-09 on the Company’s Consolidated Statements of Income and Comprehensive Income for the six months ended June 30, 2018 was as follows:
(amounts in thousands, except per share data)
 
As Reported
 
Balances Without Adoption of ASU 2014-09 (a)
 
Effect of Change Higher/(Lower)
Revenues
 
 
 
 
 
 
Right-to-use contract upfront payments, deferred, net
 
$
(3,306
)
 
$
(1,837
)
 
$
1,469

Total revenues
 
$
486,527

 
$
487,996

 
$
(1,469
)
 
 
 
 
 
 


Expenses
 
 
 
 
 


Right-to-use contract commissions, deferred, net
 
$
(286
)
 
$
164

 
$
450

Total expenses
 
$
375,989

 
$
376,439

 
$
(450
)
 
 
 
 
 
 


Consolidated net income
 
$
113,346

 
$
114,365

 
$
(1,019
)
Net income available for Common Stockholders
 
$
106,359

 
$
107,323

 
$
(964
)
Earnings per Common Share - Basic
 
$
1.20

 
$
1.21

 
$
(0.01
)
Earnings per Common Share - Fully Diluted
 
$
1.20

 
$
1.21

 
$
(0.01
)
_____________________
(a) Represents the amounts that would have been reported under GAAP that existed prior to the January 1, 2018 adoption of ASU 2014-09.