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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Investment Management:                      
Total revenues $ 311,227 $ 318,005 $ 305,211 $ 298,323 $ 273,395 $ 209,384 $ 201,143 $ 201,810 $ 1,232,766 $ 885,732 $ 848,302
Operating Expenses                      
Depreciation and amortization                 447,135 291,440 253,334
General and administrative                 75,293 68,337 70,891
Reimbursable tenant costs                 55,576 28,076 21,524
Property expenses, excluding reimbursable tenant costs                 39,545 22,773 17,330
Operating property expenses                 38,015 20,150 23,426
Impairment charges   25,800             32,539 4,790 2,769
Stock-based compensation expense                 18,787 18,294 18,917
Reimbursable costs from affiliates                 16,547 21,925 51,445
Subadvisor fees                 7,579 9,240 13,600
Merger and other expenses                 101 41,426 605
Restructuring and other compensation                 0 0 9,363
Dealer manager fees and expenses                 0 0 6,544
Total operating expenses 175,816 198,409 179,170 177,722 185,346 110,937 109,202 120,966 731,117 526,451 489,748
Other Income and Expenses                      
Interest expense                 (233,325) (178,375) (165,775)
Other gains and (losses)                 31,475 29,913 (3,613)
Equity in earnings of equity method investments in the Managed Programs and real estate                 23,229 61,514 64,750
Gain on sale of real estate, net                 18,143 118,605 33,878
(Loss) gain on change in control of interests   (8,400)     47,800       (8,416) 47,814 0
Total other income and expenses                 (168,894) 79,471 (70,760)
Income before income taxes                 332,755 438,752 287,794
Provision for income taxes                 (26,211) (14,411) (2,711)
Net Income 129,792 41,835 66,121 68,796 195,278 81,573 79,424 68,066 306,544 424,341 285,083
Net income attributable to noncontrolling interests (420) (496) (83) (302) (2,015) (4,225) (3,743) (2,792) (1,301) (12,775) (7,794)
Net Income Attributable to W. P. Carey $ 129,372 $ 41,339 $ 66,038 $ 68,494 $ 193,263 $ 77,348 $ 75,681 $ 65,274 $ 305,243 $ 411,566 $ 277,289
Basic Earnings Per Share (usd per share) $ 0.75 $ 0.24 $ 0.39 $ 0.41 $ 1.33 $ 0.71 $ 0.70 $ 0.60 $ 1.78 $ 3.50 $ 2.56
Diluted Earnings Per Share (usd per share) $ 0.75 $ 0.24 $ 0.38 $ 0.41 $ 1.33 $ 0.71 $ 0.70 $ 0.60 $ 1.78 $ 3.49 $ 2.56
Weighted-Average Shares Outstanding                      
Basic (in shares)                 171,001,430 117,494,969 107,824,738
Diluted (in shares)                 171,299,414 117,706,445 108,035,971
Real Estate                      
Real Estate:                      
Lease revenues                 $ 1,086,375 $ 744,498 $ 651,897
Gross contract revenue                 50,220 28,072 30,562
Lease termination income and other                 36,268 6,555 4,749
Investment Management:                      
Gross contract revenue                 50,220 28,072 30,562
Total revenues                 1,172,863 779,125 687,208
Operating Expenses                      
Depreciation and amortization                 443,300 287,461 249,432
General and administrative                 56,796 47,210 39,002
Reimbursable tenant costs                 55,576 28,076 21,524
Property expenses, excluding reimbursable tenant costs                 39,545 22,773 17,330
Operating property expenses                 38,015 20,150 23,426
Impairment charges                 32,539 4,790 2,769
Stock-based compensation expense                 13,248 10,450 6,960
Merger and other expenses                 101 41,426 605
Total operating expenses                 679,120 462,336 361,048
Other Income and Expenses                      
Interest expense                 (233,325) (178,375) (165,775)
Other gains and (losses)                 30,251 30,015 (5,655)
Equity in earnings of equity method investments in the Managed Programs and real estate                 2,361 13,341 13,068
Gain on sale of real estate, net                 18,143 118,605 33,878
(Loss) gain on change in control of interests                 (8,416) 18,792 0
Total other income and expenses                 (190,986) 2,378 (124,484)
Income before income taxes                 302,757 319,167 201,676
Provision for income taxes                 (30,802) 844 (1,743)
Net Income                 271,955 320,011 199,933
Net income attributable to noncontrolling interests                 110 (12,775) (7,794)
Net Income Attributable to W. P. Carey                 272,065 307,236 192,139
Investment Management                      
Real Estate:                      
Gross contract revenue                 59,903 106,607 161,094
Investment Management:                      
Gross contract revenue                 59,903 106,607 161,094
Operating Expenses                      
Depreciation and amortization                 3,835 3,979 3,902
General and administrative                 18,497 21,127 31,889
Stock-based compensation expense                 5,539 7,844 11,957
Reimbursable costs from affiliates                 16,547 21,925 51,445
Subadvisor fees                 7,579 9,240 13,600
Restructuring and other compensation                 0 0 9,363
Dealer manager fees and expenses                 0 0 6,544
Total operating expenses                 51,997 64,115 128,700
Other Income and Expenses                      
Other gains and (losses)                 1,224 (102) 2,042
Equity in earnings of equity method investments in the Managed Programs and real estate                 20,868 48,173 51,682
(Loss) gain on change in control of interests                 0 29,022 0
Total other income and expenses                 22,092 77,093 53,724
Income before income taxes                 29,998 119,585 86,118
Provision for income taxes                 4,591 (15,255) (968)
Net Income                 34,589 104,330 85,150
Net income attributable to noncontrolling interests                 (1,411) 0 0
Net Income Attributable to W. P. Carey                 33,178 104,330 85,150
Investment Management | Asset management revenue                      
Real Estate:                      
Gross contract revenue                 39,132 63,556 70,125
Investment Management:                      
Gross contract revenue                 39,132 63,556 70,125
Investment Management | Reimbursable costs from affiliates                      
Real Estate:                      
Gross contract revenue                 16,547 21,925 51,445
Investment Management:                      
Gross contract revenue                 16,547 21,925 51,445
Investment Management | Structuring and other advisory revenue                      
Real Estate:                      
Gross contract revenue                 4,224 21,126 35,094
Investment Management:                      
Gross contract revenue                 4,224 21,126 35,094
Investment Management | Dealer manager fees                      
Real Estate:                      
Gross contract revenue                 0 0 4,430
Investment Management:                      
Gross contract revenue                 $ 0 $ 0 $ 4,430