Selected Quarterly Financial Data (Unaudited)

(dollars in thousands, except per share amounts)



	Three Months Ended
	March 31, 2018			June 30, 2018			September 30, 2018			December 31, 2018
Revenues ^(a)	$	201,810		$	201,143		$	209,384		$	273,395
Expenses ^(a)	120,966			109,202			110,937			185,346
Net income ^{(a) (b) (c)}	68,066			79,424			81,573			195,278
Net income attributable to noncontrolling interests ^(a)	(2,792		)	(3,743		)	(4,225		)	(2,015		)
Net income attributable to W. P. Carey ^{(a) (b) (c)}	65,274			75,681			77,348			193,263
Earnings per share attributable to W. P. Carey:
Basic ^(d)	$	0.60		$	0.70		$	0.71		$	1.33
Diluted ^(d)	$	0.60		$	0.70		$	0.71		$	1.33
Dividends declared per share	$	1.015		$	1.020		$	1.025		$	1.030



	Three Months Ended
	March 31, 2017			June 30, 2017			September 30, 2017			December 31, 2017
Revenues	$	219,059		$	221,528		$	210,754		$	196,961
Expenses	134,882			127,991			115,164			111,711
Net income ^(e)	59,825			67,131			83,654			74,473
Net (income) loss attributable to noncontrolling interests	(2,341		)	(2,813		)	(3,376		)	736
Net income attributable to W. P. Carey ^(e)	57,484			64,318			80,278			75,209
Earnings per share attributable to W. P. Carey:
Basic ^(d)	$	0.53		$	0.60		$	0.74		$	0.69
Diluted ^(d)	$	0.53		$	0.59		$	0.74		$	0.69
Dividends declared per share	$	0.995		$	1.000		$	1.005		$	1.010

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(a)	Amount for the three months ended December 31, 2018 includes the impact of the CPA:17 Merger (Note 3).


(b)	Amount for the three months ended December 31, 2018 includes a gain on change in control of interests of $47.8 million recognized in connection with the CPA:17 Merger (Note 3).


(c)	Amount for the three months ended June 30, 2018 includes an aggregate gain on sale of real estate of $11.9 million recognized on the disposition of 25 properties. Amount for the three months ended December 31, 2018 includes an aggregate gain on sale of real estate of $99.6 million recognized on the disposition of 39 properties.

(d)

The sum of the quarterly basic and diluted earnings per share amounts may not agree to the full year basic and diluted earnings per share amounts because the calculations of basic and diluted weighted-average shares outstanding for each quarter and the full year are performed independently. For the year ended December 31, 2018, total quarterly basic and diluted earnings per share were $0.16 and $0.15 lower, respectively, than the corresponding earnings per share as computed on an annual basis, as a result of the change in the shares outstanding for each of the periods, primarily due to the issuance of shares in the CPA:17 Merger (Note 3) and under our ATM program (Note 14).


(e)	Amount for the three months ended September 30, 2017 includes an aggregate gain on sale of real estate of $19.3 million recognized on the disposition of five properties. Amount for the three months ended December 31, 2017 includes an aggregate gain on sale of real estate of $11.1 million recognized on the disposition of five properties.