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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Real Estate:    
Lease revenues $ 352,336 $ 307,725
Investment Management:    
Revenues 427,790 348,438
Operating Expenses    
Depreciation and amortization 156,409 115,393
General and administrative 26,448 23,084
Reimbursable tenant costs 21,976 16,960
Operating property expenses 21,249 2,787
Property expenses, excluding reimbursable tenant costs 12,772 13,779
Stock-based compensation expense 7,766 7,833
Reimbursable costs from affiliates 101 927
Merger and other expenses 24 (2,322)
Impairment charges — real estate 0 20,179
Total operating expenses 246,745 198,620
Other Income and Expenses    
Gain on sale of real estate, net 177,749 11,248
Interest expense (67,196) (46,053)
Other gains and (losses) 8,100 35,745
Earnings from equity method investments 5,236 4,772
Non-operating income 4,626 8,546
Total other income and expenses 128,515 14,258
Income before income taxes 309,560 164,076
Provision for income taxes (15,119) (7,083)
Net Income 294,441 156,993
Net (income) loss attributable to noncontrolling interests (61) 2
Net Income Attributable to W. P. Carey $ 294,380 $ 156,995
Basic earnings per share (usd per share) $ 1.39 $ 0.82
Diluted earnings per share (usd per share) $ 1.39 $ 0.82
Weighted-Average Shares Outstanding    
Basic (in shares) 211,951,930 191,911,414
Diluted (in shares) 212,345,047 192,416,642
Real Estate    
Real Estate:    
Lease revenues $ 352,336 $ 307,725
Income from finance leases and loans receivable 20,755 18,379
Operating property revenues 40,886 3,865
Other lease-related income 13,373 14,122
Investment Management:    
Operating property revenues 40,886 3,865
Revenues 427,350 344,091
Operating Expenses    
Depreciation and amortization 156,409 115,393
General and administrative 26,448 23,084
Reimbursable tenant costs 21,976 16,960
Operating property expenses 21,249 2,787
Property expenses, excluding reimbursable tenant costs 12,772 13,779
Stock-based compensation expense 7,766 7,833
Merger and other expenses 24 (2,325)
Impairment charges — real estate 0 20,179
Total operating expenses 246,644 197,690
Other Income and Expenses    
Gain on sale of real estate, net 177,749 11,248
Interest expense (67,196) (46,053)
Other gains and (losses) 7,586 34,418
Earnings from equity method investments 5,236 (787)
Non-operating income 4,613 8,542
Total other income and expenses 127,988 7,368
Income before income taxes 308,694 153,769
Provision for income taxes (15,402) (6,913)
Net Income 293,292 146,856
Net (income) loss attributable to noncontrolling interests (61) 2
Net Income Attributable to W. P. Carey 293,231 146,858
Investment Management    
Real Estate:    
Operating property revenues 440 4,347
Investment Management:    
Operating property revenues 440 4,347
Revenues 440 4,347
Operating Expenses    
Reimbursable costs from affiliates 101 927
Merger and other expenses 0 3
Total operating expenses 101 930
Other Income and Expenses    
Other gains and (losses) 514 1,327
Earnings from equity method investments 0 5,559
Non-operating income 13 4
Total other income and expenses 527 6,890
Income before income taxes 866 10,307
Provision for income taxes 283 (170)
Net Income Attributable to W. P. Carey 1,149 10,137
Investment Management | Asset management revenue    
Real Estate:    
Operating property revenues 339 3,420
Investment Management:    
Operating property revenues 339 3,420
Investment Management | Reimbursable costs from affiliates    
Real Estate:    
Operating property revenues 101 927
Investment Management:    
Operating property revenues $ 101 $ 927