Other Data (Tables)

12 Months Ended

Dec. 31, 2016

The following table reconciles the Company’s consolidated net income attributable to common stockholders to taxable income for the three years ended December 31, 2016:



	Year Ended December 31,
(Dollars in thousands)	2016			2015			2014
Net income attributable to common stockholders	$	85,571		$	69,436		$	31,887
Reconciling items to taxable income:
Depreciation and amortization	38,260			30,457			28,332
Gain or loss on disposition of depreciable assets	(32,103		)	1,659			(4,940		)
Impairments	121			687			—
Straight-line rent	(7,101		)	(8,833		)	(12,203		)
Receivable allowances	2,067			571			2,074
Stock-based compensation	1,301			7,518			2,020
Other	2,236			4,304			1,213
	4,781			36,363			16,496
Taxable income ⁽¹⁾	$	90,352		$	105,799		$	48,383
Dividends paid	$	131,759		$	120,266		$	116,371

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(1) Before REIT dividend paid deduction

Characterization of distributions on common stock

For the three years ended December 31, 2016, there were no preferred shares outstanding. As such, no dividends were distributed related to preferred shares for those periods.



	2016				2015				2014
	Per Share		%		Per Share		%		Per Share		%
Common stock:
Ordinary income	$	0.78	65.0	%	$	0.61	51.0	%	$	0.50	42.0	%
Return of capital	0.35		29.5	%	0.08		6.7	%	0.70		58.0	%
Unrecaptured section 1250 gain	0.07		5.5	%	0.51		42.3	%	—		—	%
Common stock distributions	$	1.20	100.0	%	$	1.20	100.0	%	$	1.20	100.0	%

State Income Taxes

State income tax expense and state income tax payments for the three years ended December 31, 2016 are detailed in the table below:



	Year Ended December 31,
(Dollars in thousands)	2016		2015		2014
State income tax expense:
Texas gross margins tax ⁽¹⁾	$	562	$	528	$	694
Other	2		37		58
Total state income tax expense	$	564	$	565	$	752
State income tax payments, net of refunds and collections	$	544	$	758	$	593

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(1)	In the table above, income tax expense for 2015 includes approximately $50 thousand that was recorded to the gain on sale of real estate properties sold, which is included in discontinued operations rather than general and administrative expenses on the Company’s Consolidated Statements of Income.