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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Rental income $ 248,309,000 $ 187,279,000 $ 136,884,000
Other 259,000 199,000 238,000
Total Revenues 248,568,000 187,478,000 137,122,000
Operating Expenses      
Real estate taxes 21,428,000 15,520,000 10,721,000
Property operating expenses 9,023,000 6,749,000 5,645,000
Land lease expense 1,301,000 1,242,000 645,000
General and administrative 20,793,000 15,566,000 11,756,000
Depreciation and amortization 66,758,000 45,703,000 33,030,000
Provision for impairment 4,137,000 1,609,000 2,319,000
Total Operating Expenses 123,440,000 86,389,000 64,116,000
Income from Operations 125,128,000 101,089,000 73,006,000
Other (Expense) Income      
Interest expense, net (40,097,000) (33,094,000) (24,872,000)
Gain (loss) on sale of assets, net 8,004,000 13,306,000 11,180,000
Income tax (expense) benefit (1,086,000) (538,000) (516,000)
Other (expense) income 23,000 0 0
Net Income 91,972,000 80,763,000 58,798,000
Less net income attributable to non-controlling interest 591,000 682,000 626,000
Net Income Attributable to Agree Realty Corporation $ 91,381,000 $ 80,081,000 $ 58,172,000
Net Income Per Share Attributable to Agree Realty Corporation      
Basic $ 1.76 $ 1.96 $ 1.80
Diluted $ 1.74 $ 1.93 $ 1.78
Other Comprehensive Income      
Net income $ 91,972,000 $ 80,763,000 $ 58,798,000
Other comprehensive income (loss) - change in fair value and settlement of interest rate swaps (29,996,000) (7,987,000) 54,000
Total comprehensive income (loss) 61,976,000 72,776,000 58,852,000
Less comprehensive income (loss) attributable to non-controlling interest 369,000 611,000 631,000
Comprehensive Income (Loss) Attributable to Agree Realty Corporation $ 61,607,000 $ 72,165,000 $ 58,221,000
Weighted Average Number of Common Shares Outstanding - Basic 51,838,219 40,577,346 32,070,255
Weighted Average Number of Common Shares Outstanding - Diluted 52,396,734 41,223,614 32,401,122