Other Data (Tables)

12 Months Ended

Dec. 31, 2018

The following table reconciles the Company’s consolidated net income attributable to common stockholders to taxable income for the three years ended December 31, 2018:



	Year Ended December 31,
(Dollars in thousands)	2018			2017			2016
Net income	$	69,771		$	23,092		$	85,571
Reconciling items to taxable income:
Depreciation and amortization	64,775			46,426			38,260
Gain or loss on disposition of depreciable assets	(27,581		)	1,570			(32,103		)
Impairments	—			—			121
Straight-line rent	(3,049		)	(4,551		)	(7,101		)
Receivable allowances	2,470			1,680			2,067
Stock-based compensation	(1,699		)	1,855			1,301
Other	842			6,552			2,236
	35,758			53,532			4,781
Taxable income ⁽¹⁾	$	105,529		$	76,624		$	90,352
Dividends paid	$	150,266		$	142,327		$	131,759

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(1) Before REIT dividend paid deduction

Characterization of distributions on common stock

For the three years ended December 31, 2018, there were no preferred shares outstanding. As such, no dividends were distributed related to preferred shares for those periods.



	2018				2017				2016
	Per Share		%		Per Share		%		Per Share		%
Common stock:
Ordinary income ⁽¹⁾	$	0.75	62.2	%	$	0.42	34.5	%	$	0.78	65.0	%
Return of capital	0.33		27.8	%	0.50		42.0	%	0.35		29.5	%
Unrecaptured section 1250 gain	0.12		10.0	%	0.28		23.5	%	0.07		5.5	%
Common stock distributions	$	1.20	100.0	%	$	1.20	100.0	%	$	1.20	100.0	%

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(1) For the 2018 reporting year all ordinary income is also Code Section 199A eligible per the The Tax Cut and Jobs Act of 2017.

State Income Taxes

State income tax expense and state income tax payments for the three years ended December 31, 2018 are detailed in the table below:



	Year Ended December 31,
(Dollars in thousands)	2018		2017		2016
State income tax expense:
Texas gross margins tax	$	586	$	608	$	562
Other	—		—		2
Total state income tax expense	$	586	$	608	$	564
State income tax payments, net of refunds and collections	$	637	$	555	$	544