Quarterly Financial Data

12 Months Ended

Dec. 31, 2011

Quarterly Financial Data [Abstract]

QUARTERLY FINANCIAL DATA

10. QUARTERLY FINANCIAL DATA

The following is a summary of the quarterly results of operations for the years ended December 31, 2011 and 2010 (unaudited as to quarterly information) (in thousands, except per share amounts):

	THREE MONTHS ENDED									YEAR  ENDED DECEMBER 31,
YEAR ENDED DECEMBER 31, 2011(a)	MARCH 31,		JUNE 30,		SEPTEMBER 30,		DECEMBER 31,
Revenues from rental properties	$	24,964	$	27,065	$	27,273	$	30,916		$	110,218
Earnings (loss) from continuing operations		11,280		15,194		4,945		(19,809	)		11,610
Net earnings (loss)		11,386		15,202		5,350		(19,482	)		12,456
Diluted earnings (loss) per common share:
Earnings (loss) from continuing operations		.34		.45		.15		(.59	)		.34
Net earnings (loss)		.35		.45		.16		(.58	)		.37

	THREE MONTHS ENDED								YEAR  ENDED DECEMBER 31,
YEAR ENDED DECEMBER 31, 2010	MARCH 31,		JUNE 30,		SEPTEMBER 30,		DECEMBER 31,
Revenues from rental properties	$	22,364	$	21,677	$	21,936	$	22,082	$	88,059
Earnings from continuing operations		11,487		12,560		13,521		12,403		49,971
Net earnings		11,905		13,959		13,351		12,485		51,700
Diluted earnings per common share:
Earnings from continuing operations		.46		.46		.45		.41		1.78
Net earnings		.48		.51		.44		.42		1.84

(a) Includes for the respective periods the effect of:

- The January 13, 2011 acquisition of gasoline station and convenience store properties in a sale/leaseback and loan transaction with CPD NY Energy Corp. for $111,621,000 and the March 31, 2011 acquisition of gasoline station and convenience store properties in a sale/leaseback transaction with Nouria Energy Ventures I, LLC for $87,047,000. (See footnote 11 for additional information.)

- Allowances for deferred rent receivables of $8,715,000 and $11,043,000, related to Marketing, which were recorded in the quarters ended September 30, 2011 and December 31, 2011, respectively. (See footnotes 2 and 3 for additional information.)

- An accounts receivable reserve of $8,802,000, related to Marketing, recorded in the quarter ended December 31, 2011. (See footnotes 2 and 3 for additional information.)

- Impairment charges of $20,200,000 recorded for the year ended December 31, 2011, of which $17,131,840 was recorded in the quarter ended December 31, 2011. (See footnote 3 for additional information.)