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Stock-Based Compensation and Equity (Tables)
 9 Months Ended
Sep. 30, 2017
Equity [Abstract]  
Schedule of Share Based Compensation Stock Option Activity
Nonvested RSAs, RSUs, and PSUs at September 30, 2017 and changes during the nine months ended September 30, 2017 were as follows:
 
RSA and RSU Awards
 
PSU Awards
 
Shares
 
Weighted-Average
Grant Date
Fair Value
 
Shares
 
Weighted-Average
Grant Date
Fair Value
Nonvested at January 1, 2017
356,865

 
$
61.63

 
310,018

 
$
73.80

Granted (a)
193,467

 
62.19

 
107,934

 
75.39

Vested (b)
(169,560
)
 
62.77

 
(132,412
)
 
74.21

Forfeited
(41,957
)
 
61.09

 
(45,258
)
 
76.91

Adjustment (c)
—

 
—

 
28,271

 
63.24

Nonvested at September 30, 2017 (d)
338,815

 
$
61.45

 
268,553

 
$
75.18

__________
(a)
The grant date fair value of RSAs and RSUs reflect our stock price on the date of grant on a one-for-one basis. The grant date fair value of PSUs was determined utilizing (i) a Monte Carlo simulation model to generate an estimate of our future stock price over the three-year performance period and (ii) future financial performance projections. To estimate the fair value of PSUs granted during the nine months ended September 30, 2017, we used a risk-free interest rate of 1.5%, an expected volatility rate of 17.1%, and assumed a dividend yield of zero.
(b)
The total fair value of shares vested during the nine months ended September 30, 2017 was $20.5 million. Employees have the option to take immediate delivery of the shares upon vesting or defer receipt to a future date pursuant to previously made deferral elections. At September 30, 2017 and December 31, 2016, we had an obligation to issue 1,135,563 and 1,217,274 shares, respectively, of our common stock underlying such deferred awards, which is recorded within Total stockholders’ equity as a Deferred compensation obligation of $46.7 million and $50.2 million, respectively.
(c)
Vesting and payment of the PSUs is conditioned upon certain company and/or market performance goals being met during the relevant three-year performance period. The ultimate number of PSUs to be vested will depend on the extent to which the performance goals are met and can range from zero to three times the original awards. As a result, we recorded adjustments to reflect the number of shares expected to be issued when the PSUs vest.
(d)
At September 30, 2017, total unrecognized compensation expense related to these awards was approximately $21.4 million, with an aggregate weighted-average remaining term of 1.9 years.
Earnings Per Share Reconciliation
The following table summarizes basic and diluted earnings (in thousands, except share amounts):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2017
 
2016
 
2017
 
2016
Net income attributable to W. P. Carey
$
80,278

 
$
110,943

 
$
202,080

 
$
220,043

Net income attributable to nonvested participating RSUs and RSAs
(239
)
 
(386
)
 
(600
)
 
(766
)
Net income — basic and diluted
$
80,039

 
$
110,557

 
$
201,480

 
$
219,277

 
 
 
 
 
 
 
 
Weighted-average shares outstanding — basic
108,019,292

 
107,221,668

 
107,751,672

 
106,493,145

Effect of dilutive securities
124,402

 
246,361

 
195,818

 
360,029

Weighted-average shares outstanding — diluted
108,143,694

 
107,468,029

 
107,947,490

 
106,853,174
Redeemable Noncontrolling Interest
The following table presents a reconciliation of redeemable noncontrolling interest (in thousands):
 
Nine Months Ended September 30,
 
2017
 
2016
Beginning balance
$
965

 
$
14,944

Distributions
—

 
(13,418
)
Redemption value adjustment
—

 
(561
)
Ending balance
$
965

 
$
965
Reclassification Out of Accumulated Other Comprehensive Income
The following tables present a reconciliation of changes in Accumulated other comprehensive loss by component for the periods presented (in thousands):
 
Three Months Ended September 30, 2017
 
Gains and Losses on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Gains and Losses on Marketable Securities
 
Total
Beginning balance
$
24,636

 
$
(267,868
)
 
$
(416
)
 
$
(243,648
)
Other comprehensive income before reclassifications
(8,367
)
 
25,417

 
66

 
17,116

Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
 
 
Gain on sale of real estate, net of tax (Note 15)
—

 
3,562

 
—

 
3,562

Interest expense
286

 
—

 
—

 
286

Other income and (expenses)
(2,189
)
 
—

 
—

 
(2,189
)
Total
(1,903
)
 
3,562

 
—

 
1,659

Net current period other comprehensive income
(10,270
)
 
28,979

 
66

 
18,775

Net current period other comprehensive gain attributable to noncontrolling interests
8

 
(4,716
)
 
—

 
(4,708
)
Ending balance
$
14,374

 
$
(243,605
)
 
$
(350
)
 
$
(229,581
)

 
Three Months Ended September 30, 2016
 
Gains and Losses on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Gains and Losses on Marketable Securities
 
Total
Beginning balance
$
34,744

 
$
(240,985
)
 
$
40

 
$
(206,201
)
Other comprehensive loss before reclassifications
(1,178
)
 
(11,824
)
 
(7
)
 
(13,009
)
Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
 
 
Interest expense
512

 
—

 
—

 
512

Other income and (expenses)
(2,427
)
 
—

 
—

 
(2,427
)
Total
(1,915
)
 
—

 
—

 
(1,915
)
Net current period other comprehensive loss
(3,093
)
 
(11,824
)
 
(7
)
 
(14,924
)
Net current period other comprehensive gain attributable to noncontrolling interests
17

 
(218
)
 
—

 
(201
)
Ending balance
$
31,668

 
$
(253,027
)
 
$
33

 
$
(221,326
)
 
Nine Months Ended September 30, 2017
 
Gains and Losses on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Gains and Losses on Marketable Securities
 
Total
Beginning balance
$
46,935

 
$
(301,330
)
 
$
(90
)
 
$
(254,485
)
Other comprehensive income before reclassifications
(25,108
)
 
68,124

 
(260
)
 
42,756

Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
 
 
Gain on sale of real estate, net of tax (Note 15)
—

 
3,562

 
—

 
3,562

Interest expense
1,024

 
—

 
—

 
1,024

Other income and (expenses)
(8,490
)
 
—

 
—

 
(8,490
)
Total
(7,466
)
 
3,562

 
—

 
(3,904
)
Net current period other comprehensive income
(32,574
)
 
71,686

 
(260
)
 
38,852

Net current period other comprehensive gain attributable to noncontrolling interests
13

 
(13,961
)
 
—

 
(13,948
)
Ending balance
$
14,374

 
$
(243,605
)
 
$
(350
)
 
$
(229,581
)

 
Nine Months Ended September 30, 2016
 
Gains and Losses on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Gains and Losses on Marketable Securities
 
Total
Beginning balance
$
37,650

 
$
(209,977
)
 
$
36

 
$
(172,291
)
Other comprehensive loss before reclassifications
(1,155
)
 
(41,999
)
 
(3
)
 
(43,157
)
Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
 
 
Interest expense
1,578

 
—

 
—

 
1,578

Other income and (expenses)
(6,422
)
 
—

 
—

 
(6,422
)
Total
(4,844
)
 
—

 
—

 
(4,844
)
Net current period other comprehensive loss
(5,999
)
 
(41,999
)
 
(3
)
 
(48,001
)
Net current period other comprehensive gain attributable to noncontrolling interests
17

 
(1,051
)
 
—

 
(1,034
)
Ending balance
$
31,668

 
$
(253,027
)
 
$
33

 
$
(221,326
)