XML 24 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues      
Minimum rents $ 132,814 $ 105,074 $ 84,031
Percentage rents 261 244 197
Operating cost reimbursement 14,887 10,752 7,267
Other 233 485 32
Total Revenues 148,195 116,555 91,527
Operating Expenses      
Real estate taxes 10,721 8,204 5,459
Property operating expenses 5,645 3,610 2,484
Land lease expense 645 653 653
General and administrative 12,165 9,722 7,862
Depreciation and amortization 43,698 31,752 23,407
Provision for impairment (2,319) 0 0
Total Operating Expenses 75,193 53,941 39,865
Income from Operations 73,002 62,614 51,662
Other (Expense) Income      
Interest expense, net (24,872) (18,137) (15,343)
Gain (loss) on sale of assets, net 11,180 14,193 9,964
Income tax expense (516) (227) (153)
Loss on debt extinguishment 0 0 (333)
Other (expense) income 4 347  
Net Income 58,798 58,790 45,797
Less Net Income Attributable to Non-Controlling Interest 626 678 679
Net Income Attributable to Agree Realty Corporation $ 58,172 $ 58,112 $ 45,118
Net Income Per Share Attributable to Agree Realty Corporation      
Basic $ 1.80 $ 2.09 $ 1.97
Diluted $ 1.78 $ 2.08 $ 1.97
Other Comprehensive Income      
Net income $ 58,798 $ 58,790 $ 45,797
Other Comprehensive Income (Loss) - Change in Fair Value of Interest Rate Swaps 54 1,935 2,618
Total Comprehensive Income 58,852 60,725 48,415
Less Comprehensive Income Attributable to Non-Controlling Interest 631 702 703
Comprehensive Income Attributable to Agree Realty Corporation $ 58,221 $ 60,023 $ 47,712
Weighted Average Number of Common Shares Outstanding - Basic: 32,070,255 27,625,102 22,868,736
Weighted Average Number of Common Shares Outstanding - Diluted: 32,401,122 27,700,347 22,959,799