Summary of Significant Accounting Policies

Schedule of Amortization of Deferred Expenses [Table Text Block]

The following schedule summarizes the Company’s amortization of lease intangibles for the three and nine months ended September 30, 2020 and 2019 (in thousands):


	Three Months Ended				Nine Months Ended
	September 30, 2020		September 30, 2019		September 30, 2020		September 30, 2019
Lease intangibles (in-place)	$	4,408	$	2,854	$	11,971	$	7,298
Lease intangibles (above-market)		5,338		4,562		15,607		13,297
Lease intangibles (below-market)		(1,374)		(1,181)		(4,055)		(3,415)
Total	$	8,372	$	6,235	$	23,523	$	17,180

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following is a reconciliation of the numerator and denominator for the basic net earnings per common share and diluted net earnings per common share computation for each of the periods presented: (in thousands, except for share data)


	Three Months Ended				Nine Months Ended
	September 30, 2020		September 30, 2019		September 30, 2020		September 30, 2019
Net income attributable to Agree Realty Corporation	$	21,280	$	20,611	$	67,766	$	57,522
Less: Income attributable to unvested restricted shares		(69)		(98)		(233)		(283)
Net income used in basic and diluted earnings per share	$	21,211	$	20,513	$	67,533	$	57,239

Weighted average number of common shares outstanding		53,902,541		42,034,685		50,818,154		40,194,931
Less: Unvested restricted stock		(180,585)		(202,228)		(180,585)		(202,228)
Weighted average number of common shares outstanding used in basic earnings per share		53,721,956		41,832,457		50,637,569		39,992,703

Weighted average number of common shares outstanding used in basic earnings per share		53,721,956		41,832,457		50,637,569		39,992,703
Effect of dilutive securities: share-based compensation		85,380		109,027		87,111		102,845
Effect of dilutive securities: September 2018 forward equity offering		—		—		—		359,713
Effect of dilutive securities: April 2019 forward equity offering		—		376,558		—		170,180
Effect of dilutive securities: 2019 ATM forward equity offerings		—		—		19,053		—
Effect of dilutive securities: 2020 ATM forward equity offerings		22,515		—		16,934		—
Effect of dilutive securities: April 2020 forward equity offering		725,821		—		390,795		—
Weighted average number of common shares outstanding used in diluted earnings per share		54,555,672		42,318,042		51,151,462		40,625,441