Other Data (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of taxable income

The following table reconciles the Company’s consolidated net income attributable to common stockholders to taxable income for the three years ended December 31, 2019: 

	YEAR ENDED DECEMBER 31,
Dollars in thousands	2019			2018			2017
Net income	$	39,185		$	69,771		$	23,092
Reconciling items to taxable income
Depreciation and amortization	67,953			64,775			46,426
Gain or loss on disposition of depreciable assets	(15,689		)	(27,581		)	1,570
Straight-line rent	(11,535		)	(3,049		)	(4,551		)
Receivable allowances	1,942			2,470			1,680
Share-based compensation	2,628			(1,699		)	1,855
Other	12,631			842			6,552
	57,930			35,758			53,532
Taxable income 1	$	97,115		$	105,529		$	76,624
Dividends paid	$	155,358		$	150,266		$	142,327

1

Before REIT dividend paid deduction

Schedule of characterization of distributions on common stock

For the three years ended December 31, 2019, there were no preferred shares outstanding. As such, no dividends were distributed related to preferred shares for those periods.

	2019				2018				2017
	PER SHARE		%		PER SHARE		%		PER SHARE		%
Common stock
Ordinary income 1	$	0.79	65.7	%	$	0.75	62.2	%	$	0.42	34.5	%
Return of capital	0.40		33.9	%	0.33		27.8	%	0.50		42.0	%
Unrecaptured section 1250 gain	0.01		0.4	%	0.12		10.0	%	0.28		23.5	%
Common stock distributions	$	1.20	100.0	%	$	1.20	100.0	%	$	1.20	100.0	%

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.

Schedule of state income taxes

State income tax expense and state income tax payments for the three years ended December 31, 2019 are detailed in the table below: 

	YEAR ENDED DECEMBER 31,
Dollars in thousands	2019		2018		2017
State income tax expense
Texas gross margins tax	$	550	$	586	$	608
Total state income tax expense	$	550	$	586	$	608
State income tax payments, net of refunds and collections	$	543	$	637	$	555