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Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 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 September 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
 
$
(2,883
)
 
$
(2,131
)
 
$
752

Total revenues
 
$
256,675

 
$
257,427

 
$
(752
)
 
 
 
 
 
 


Expenses
 
 
 
 
 


Right-to-use contract commissions, deferred, net
 
$
(458
)
 
$
(245
)
 
$
213

Total expenses
 
$
197,803

 
$
198,016

 
$
(213
)
 
 
 
 
 
 


Consolidated net income
 
$
59,660

 
$
60,189

 
$
(529
)
Net income available for Common Stockholders
 
$
56,070

 
$
56,567

 
$
(497
)
Earnings per Common Share - Basic
 
$
0.63

 
$
0.63

 
$
—

Earnings per Common Share - Fully Diluted
 
$
0.63

 
$
0.63

 
$
—

_____________________
(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 nine months ended September 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
 
$
(6,189
)
 
$
(3,968
)
 
$
2,221

Total revenues
 
$
743,202

 
$
745,423

 
$
(2,221
)
 
 
 
 
 
 


Expenses
 
 
 
 
 


Right-to-use contract commissions, deferred, net
 
$
(744
)
 
$
(81
)
 
$
663

Total expenses
 
$
573,792

 
$
574,455

 
$
(663
)
 
 
 
 
 
 


Consolidated net income
 
$
173,006

 
$
174,554

 
$
(1,548
)
Net income available for Common Stockholders
 
$
162,429

 
$
163,890

 
$
(1,461
)
Earnings per Common Share - Basic
 
$
1.83

 
$
1.85

 
$
(0.02
)
Earnings per Common Share - Fully Diluted
 
$
1.82

 
$
1.84

 
$
(0.02
)
_____________________
(a) Represents the amounts that would have been reported under GAAP that existed prior to the January 1, 2018 adoption of ASU 2014-09.