v3.21.2
Condensed Consolidated Statements of Income and Comprehensive Income (Loss) (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues        
Lease revenues, net $ 122,777 $ 80,744 $ 290,234 $ 239,346
Operating expenses        
Depreciation and amortization 36,682 31,363 98,620 102,503
Property and operating expense 4,842 4,187 14,019 12,492
General and administrative 8,552 7,214 27,840 18,756
Provision for impairment of investment in rental properties 25,989 14,732 28,001 17,399
Total operating expenses 76,065 57,496 168,480 154,886
Other income (expenses)        
Interest income 0 11 20
Interest expense (15,611) (18,511) (47,149) (59,015)
Cost of debt extinguishment (242) (392) (368) (414)
Gain on sale of real estate 1,220 1,060 9,791 9,725
Income taxes (473) (129) (1,187) (1,080)
Internalization expenses (1,929) (3,523)
Change in fair value of earnout liability (1,059) 6,362 (5,539) 8,506
Other (expenses) income (25) 2 (11) (22)
Net income 30,522 9,711 77,302 38,657
Net income attributable to non-controlling interests (1,824) (961) (5,167) (3,738)
Net income attributable to Broadstone Net Lease, Inc. $ 28,698 $ 8,750 $ 72,135 $ 34,919
Weighted average number of common shares outstanding        
Basic 159,226 111,155 150,227 108,228
Diluted 169,587 123,381 161,273 119,747
Net earnings per share attributable to common stockholders        
Basic and diluted $ 0.18 $ 0.08 $ 0.48 $ 0.32
Comprehensive income (loss)        
Net income loss $ 30,522 $ 9,711 $ 77,302 $ 38,657
Other comprehensive income (loss)        
Change in fair value of interest rate swaps 4,559 (4,352) 30,328 (59,766)
Realized gain on interest rate swaps 85 (42) 2 (125)
Comprehensive income (loss) 35,166 14,021 107,632 (21,234)
Comprehensive (income) loss attributable to non-controlling interests (2,101) (1,387) (7,313) 1,510
Comprehensive income (loss) attributable to Broadstone Net Lease, Inc. 33,065 12,634 100,319 (19,724)
Asset Management Fees        
Operating expenses        
Operating expenses 0 0 0 2,461
Property Management Fees        
Operating expenses        
Operating expenses $ 0 $ 0 $ 0 $ 1,275