XML 21 R4.htm IDEA: XBRL DOCUMENT v3.24.3
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Real Estate:        
Income from finance leases and loans receivable $ 15,712 $ 27,575 $ 56,466 $ 75,641
Investment Management:        
Revenues 397,383 448,553 1,176,853 1,328,921
Operating Expenses        
Depreciation and amortization 115,705 144,771 371,954 444,728
General and administrative 22,679 23,355 74,715 74,816
Operating property expenses 17,765 26,570 54,280 74,738
Stock-based compensation expense 13,468 9,050 31,227 25,811
Reimbursable tenant costs 13,337 20,498 40,314 62,997
Property expenses, excluding reimbursable tenant costs 10,993 13,021 37,097 31,164
Merger and other expenses 283 4,152 4,941 5,595
Impairment charges — real estate 0 15,173 15,752 15,173
Total operating expenses 194,230 256,590 630,280 735,022
Other Income and Expenses        
Other gains and (losses) (77,107) 2,859 (60,764) 9,593
Interest expense (72,526) (76,974) (206,484) (219,658)
Gain on change in control of interests 31,849 0 31,849 0
Gain on sale of real estate, net 15,534 2,401 70,342 181,958
Non-operating income 13,669 4,862 38,389 13,997
Earnings from equity method investments 6,124 4,978 17,624 14,569
Total other income and expenses (82,457) (61,874) (109,044) 459
Income before income taxes 120,696 130,089 437,529 594,358
Provision for income taxes (9,044) (5,090) (23,937) (30,338)
Net Income 111,652 124,999 413,592 564,020
Net loss attributable to noncontrolling interests 46 41 224 20
Net Income Attributable to W. P. Carey $ 111,698 $ 125,040 $ 413,816 $ 564,040
Basic Earnings Per Share (in dollars per share) $ 0.51 $ 0.58 $ 1.88 $ 2.64
Diluted Earnings Per Share (in dollars per share) $ 0.51 $ 0.58 $ 1.88 $ 2.63
Weighted-Average Shares Outstanding        
Basic (in shares) 220,221,366 215,097,114 220,149,886 214,052,907
Diluted (in shares) 220,404,149 215,252,969 220,425,244 214,427,425
Owned Real Estate        
Real Estate:        
Lease revenues $ 334,039 $ 369,159 $ 980,394 $ 1,090,619
Income from finance leases and loans receivable 15,712 27,575 56,466 75,641
Operating property revenues 37,323 49,218 112,681 140,780
Other lease-related income 7,701 2,310 19,005 20,723
Investment Management:        
Operating property revenues 37,323 49,218 112,681 140,780
Revenues 394,775 448,262 1,168,546 1,327,763
Investment Management        
Real Estate:        
Operating property revenues 2,608 291 8,307 1,158
Investment Management:        
Operating property revenues 2,608 291 8,307 1,158
Revenues 2,608 291 8,307 1,158
Asset management revenue        
Real Estate:        
Operating property revenues 1,557 194 5,136 836
Investment Management:        
Operating property revenues 1,557 194 5,136 836
Other advisory income and reimbursements        
Real Estate:        
Operating property revenues 1,051 97 3,171 322
Investment Management:        
Operating property revenues $ 1,051 $ 97 $ 3,171 $ 322