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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues        
Minimum rents $ 22,279 $ 16,736 $ 60,682 $ 47,262
Percentage rents 7 38 197 189
Operating cost reimbursement 1,845 970 5,368 3,246
Other income 30 106 (18) 115
Total Revenues 24,161 17,850 66,229 50,812
Operating Expenses        
Real estate taxes 1,473 716 4,035 2,342
Property operating expenses 169 424 1,669 1,411
Land lease payments 163 174 490 443
General and administrative 2,020 1,769 6,107 5,180
Depreciation and amortization 6,151 4,985 16,901 12,656
Total Operating Expenses 9,976 8,068 29,202 22,032
Income from Operations 14,185 9,782 37,027 28,780
Other (Expense) Income        
Interest expense, net (4,091) (3,505) (11,236) (8,899)
Gain (Loss) on sale of assets 4,415 8,599 7,133 12,134
Loss on debt extinguishment (33) 0 (33) (180)
Net Income 14,476 14,876 32,891 31,835
Less Net Income Attributable to Non-Controlling Interest 213 281 506 608
Net Income Attributable to Agree Realty Corporation $ 14,263 $ 14,595 $ 32,385 $ 31,227
Net Income Per Share Attributable to Agree Corporation        
Basic (in dollars per share) $ 0.61 $ 0.81 $ 1.47 $ 1.77
Diluted (in dollars per share) $ 0.61 $ 0.81 $ 1.46 $ 1.76
Other Comprehensive Income        
Net income $ 14,476 $ 14,876 $ 32,891 $ 31,835
Other Comprehensive Income (Loss) 1,378 (2,538) (3,236) (2,929)
Total Comprehensive Income 15,854 12,338 29,655 28,906
Comprehensive Income Attributable to Non-Controlling Interest (229) (231) (456) (552)
Comprehensive Income Attributable to Agree Realty Corporation $ 15,625 $ 12,107 $ 29,199 $ 28,354
Basic Earnings Per Share        
Weighted Average Number of Common Shares Outstanding - Basic: (in shares) 23,454,083 18,008,592 22,034,389 17,653,482
Weighted Average Number of Common Shares Outstanding - Diluted: (in shares) 23,563,331 18,064,318 22,127,329 17,716,362