v3.7.0.1
Condensed Consolidated Statements of Income and Comprehensive Income (Loss) (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues        
Rental income from operating leases $ 41,256 $ 32,397 $ 80,657 $ 61,973
Earned income from direct financing leases 1,074 1,141 2,207 2,264
Operating expenses reimbursed from tenants 1,296 1,181 2,913 2,004
Other income from real estate transactions 45 104 78 169
Total revenues 43,671 34,823 85,855 66,410
Operating expenses        
Depreciation and amortization 14,733 11,252 29,326 21,159
Asset management fees 3,629 2,610 6,822 4,981
Property management fees 1,218 974 2,386 1,857
Acquisition expenses 0 4,472 0 5,890
Property and operating expense 1,124 983 2,701 1,821
General and administrative 1,162 684 2,125 1,353
State and franchise tax 160 81 210 110
Total operating expenses 22,026 21,056 43,570 37,171
Operating income 21,645 13,767 42,285 29,239
Other income (expenses) 0 0 0 0
Cost of debt extinguishment (3,567) (53) (3,615) (53)
Preferred distribution income 182 175 363 350
Interest income 115 5 227 6
Interest expense (7,860) (8,880) (15,802) (19,591)
Gain on sale of real estate 5,477 342 6,280 1,106
Net income 15,992 5,356 29,738 11,057
Net income attributable to non-controlling interests (1,265) (538) (2,418) (1,141)
Net income attributable to Broadstone Net Lease, Inc. $ 14,727 $ 4,818 $ 27,320 $ 9,916
Weighted average number of common shares outstanding        
Basic 16,623 12,766 16,102 12,284
Diluted 18,051 14,193 17,530 13,695
Net Earnings per common share        
Basic and diluted $ 0.89 $ 0.38 $ 1.70 $ 0.81
Comprehensive income (loss)        
Net income $ 15,992 $ 5,356 $ 29,738 $ 11,057
Other comprehensive income (loss)        
Change in fair value of interest rate swaps (4,291) (5,506) (1,731) (21,830)
Realized loss on interest rate swaps (873) 0 (873) 0
Comprehensive income (loss) 10,828 (150) 27,134 (10,773)
Comprehensive (income) loss attributable to non-controlling interests (857) 15 (2,224) 1,138
Comprehensive income (loss) attributable to Broadstone Net Lease, Inc. $ 9,971 $ (135) $ 24,910 $ (9,635)