XML 28 R4.htm IDEA: XBRL DOCUMENT v3.19.3
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Income        
Lease income, net $ 56,768 $ 58,766 $ 167,312 $ 181,139
Total income 58,169 60,094 171,750 185,418
Operating expenses        
Depreciation and amortization 24,253 29,684 71,807 77,768
Property operating expenses 8,460 8,216 22,969 25,864
Real estate taxes 9,000 8,712 27,009 27,742
General and administrative expenses 8,379 9,628 25,788 26,617
Total operating expenses 50,092 56,240 147,573 157,991
Interest, dividend and other income 124 361 1,434 2,004
Interest expense, net (6,077) (5,954) (17,182) (19,047)
(Loss) gain on extinguishment of debt, net (2,092) (4) (2,901) 10,693
Provision for asset impairment (2,359) (2,713) (2,359) (3,510)
Gain on sale and transfer of investment properties, net 26,781 13,476 32,443 51,741
Equity in earnings (losses) of unconsolidated entities 572 (43) (48) (2,795)
Realized and unrealized investment gains 0 13 0 236
Total other income 16,949 5,136 11,387 39,322
Income before income taxes 25,026 8,990 35,564 66,749
Income tax expense (100) (43) (359) (407)
Net income from continuing operations 24,926 8,947 35,205 66,342
Net loss from discontinued operations 0 0 (25,500) 0
Net income $ 24,926 $ 8,947 $ 9,705 $ 66,342
Weighted-average number of common shares outstanding, basic 728,722,763 768,385,770 728,645,975 772,341,263
Weighted-average number of common shares outstanding, diluted 729,456,722 769,306,859 729,221,226 772,971,787
Net income per common share, from continuing operations, basic and diluted (in dollars per share) $ 0.03 $ 0.01 $ 0.05 $ 0.09
Net loss per common share, from discontinued operations, basic and diluted (in dollars per share) 0 0 (0.03) 0
Net income per common share, basic and diluted (in dollars per share) 0.03 0.01 0.02 0.09
Distributions declared per common share outstanding (in dollars per share) 0.02 0.01 0.06 0.05
Distributions paid per common share outstanding (in dollars per share) $ 0.02 $ 0.01 $ 0.05 $ 0.05
Comprehensive income        
Net income $ 24,926 $ 8,947 $ 9,705 $ 66,342
Unrealized (loss) gain on derivatives (1,587) 142 (1,903) 1,218
Reclassification to interest expense, net (343) (284) (1,202) (593)
Comprehensive income 22,996 8,805 6,600 66,967
Other property income        
Income        
Income 333 363 1,605 1,314
Other fee income        
Income        
Income $ 1,068 $ 965 $ 2,833 $ 2,965