Other Data (Tables)

12 Months Ended

Dec. 31, 2017

The following table reconciles the Company’s consolidated net income attributable to common stockholders to taxable income for the three years ended December 31, 2017:



	Year Ended December 31,
(Dollars in thousands)	2017			2016			2015
Net income	$	23,092		$	85,571		$	69,436
Reconciling items to taxable income:
Depreciation and amortization	46,426			38,260			30,457
Gain or loss on disposition of depreciable assets	1,570			(32,103		)	1,659
Impairments	—			121			687
Straight-line rent	(4,551		)	(7,101		)	(8,833		)
Receivable allowances	1,680			2,067			571
Stock-based compensation	1,855			1,301			7,518
Other	6,552			2,236			4,304
	53,532			4,781			36,363
Taxable income ⁽¹⁾	$	76,624		$	90,352		$	105,799
Dividends paid	$	142,327		$	131,759		$	120,266

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(1) Before REIT dividend paid deduction

Characterization of distributions on common stock

For the three years ended December 31, 2017, there were no preferred shares outstanding. As such, no dividends were distributed related to preferred shares for those periods.



	2017				2016				2015
	Per Share		%		Per Share		%		Per Share		%
Common stock:
Ordinary income	$	0.42	34.5	%	$	0.78	65.0	%	$	0.61	51.0	%
Return of capital	0.50		42.0	%	0.35		29.5	%	0.08		6.7	%
Unrecaptured section 1250 gain	0.28		23.5	%	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, 2017 are detailed in the table below:



	Year Ended December 31,
(Dollars in thousands)	2017		2016		2015
State income tax expense:
Texas gross margins tax ⁽¹⁾	$	608	$	562	$	528
Other	—		2		37
Total state income tax expense	$	608	$	564	$	565
State income tax payments, net of refunds and collections	$	555	$	544	$	758

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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.