Other Data (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021: 

	YEAR ENDED DECEMBER 31,
Dollars in thousands	2021		2020		2019
Net income	$	66,659	$	72,195	$	39,185
Reconciling items to taxable income
Depreciation and amortization	69,958		80,624		67,953
Gain or loss on disposition of depreciable assets	(26,631)		(23,898)		(15,689)
Impairments	5,043		—		—
Straight-line rent	(4,331)		7,485		(11,535)
Receivable allowances	2,000		2,494		1,942
Share-based compensation	(2,024)		5,387		2,628
Other	8,702		(2,182)		12,631
	52,717		69,910		57,930
Taxable income 1	$	119,376	$	142,105	$	97,115
Dividends paid	$	175,456	$	162,557	$	155,358

1Before REIT dividend paid deduction

Schedule of characterization of distributions on common stock

For the three years ended December 31, 2021, there were no preferred shares outstanding. As such, no dividends were distributed related to preferred shares for those periods.

	2021				2020				2019
	PER SHARE		%		PER SHARE		%		PER SHARE		%
Common stock
Ordinary income 1	$	0.75	62.0	%	$	0.77	64.5	%	$	0.79	65.7	%
Return of capital	0.36		8.0	%	0.11		9.0	%	0.40		33.9	%
Unrecaptured section 1250 gain	0.10		30.0	%	0.32		26.5	%	0.01		0.4	%
Common stock distributions	$	1.21	100.0	%	$	1.20	100.0	%	$	1.20	100.0	%

1Reporting year 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, 2021 are detailed in the table below: 

	YEAR ENDED DECEMBER 31,
Dollars in thousands	2021		2020		2019
State income tax expense
Texas gross margins tax	$	564	$	546	$	550
Other	8		8		6
Total state income tax expense	$	572	$	554	$	556
State income tax payments, net of refunds and collections	$	560	$	557	$	549