XML 66 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Dec. 31, 2012
Real estate investments, at cost:    
Land $ 1,380,308us-gaap_Land [1] $ 262,906us-gaap_Land [1]
Buildings, fixtures and improvements 5,297,400arcp_BuildingsFixturesandImprovements [1] 1,391,209arcp_BuildingsFixturesandImprovements [1]
Land and construction in progress 21,839arcp_LandandConstructionInProgress [1] 0arcp_LandandConstructionInProgress [1]
Acquired intangible lease assets 759,595us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases [1] 221,500us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases [1]
Total real estate investments, at cost 7,459,142us-gaap_RealEstateInvestmentPropertyAtCost [1] 1,875,615us-gaap_RealEstateInvestmentPropertyAtCost [1]
Less: accumulated depreciation and amortization (267,278)us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation [1] (56,524)us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation [1]
Total real estate investments, net 7,191,864us-gaap_RealEstateInvestmentPropertyNet [1] 1,819,091us-gaap_RealEstateInvestmentPropertyNet [1]
Cash and cash equivalents 52,725us-gaap_CashAndCashEquivalentsAtCarryingValue [1] 292,575us-gaap_CashAndCashEquivalentsAtCarryingValue [1]
Investment in direct financing leases, net 66,112us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeases [1] 0us-gaap_CapitalLeasesNetInvestmentInDirectFinancingLeases [1]
Investment securities, at fair value 62,067us-gaap_AvailableForSaleSecurities [1] 41,654us-gaap_AvailableForSaleSecurities [1]
Loans held for investment, net 26,279us-gaap_LoansAndLeasesReceivableNetReportedAmount [1] 0us-gaap_LoansAndLeasesReceivableNetReportedAmount [1]
Derivative assets, at fair value 9,189us-gaap_DerivativeFairValueOfDerivativeAsset [1] 0us-gaap_DerivativeFairValueOfDerivativeAsset [1]
Restricted cash 35,921us-gaap_RestrictedCashAndCashEquivalents [1] 1,108us-gaap_RestrictedCashAndCashEquivalents [1]
Prepaid expenses and other assets, net 186,726us-gaap_PrepaidExpenseAndOtherAssets [1],[2] 11,984us-gaap_PrepaidExpenseAndOtherAssets [1]
Goodwill 92,789us-gaap_ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock [1] 0us-gaap_ReceivableFromShareholdersOrAffiliatesForIssuanceOfCapitalStock [1]
Deferred costs, net 84,746us-gaap_DeferredCostsCurrentAndNoncurrent [1] 15,118us-gaap_DeferredCostsCurrentAndNoncurrent [1]
Assets held for sale 665us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation [1] 665us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation [1]
Total assets 7,809,083us-gaap_Assets [1] 2,182,195us-gaap_Assets [1]
LIABILITIES AND EQUITY    
Mortgage notes payable, net 1,301,114us-gaap_SecuredDebt [1] 265,118us-gaap_SecuredDebt [1]
Convertible debt, net 972,490us-gaap_ConvertibleNotesPayable [1] 0us-gaap_ConvertibleNotesPayable [1]
Senior secured revolving credit facility 0us-gaap_DebtInstrumentFairValue [1] 124,604us-gaap_DebtInstrumentFairValue [1]
Other debt 104,804us-gaap_OtherNotesPayable [1] 0us-gaap_OtherNotesPayable [1]
Below-market lease liabilities, net 77,169us-gaap_BelowMarketLeaseNet [1] 0us-gaap_BelowMarketLeaseNet [1]
Derivative liabilities, at fair value 18,455us-gaap_DerivativeFairValueOfDerivativeLiability [1] 3,830us-gaap_DerivativeFairValueOfDerivativeLiability [1]
Accounts payable and accrued expenses 730,571us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent [1] 102,740us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent [1]
Deferred rent and other liabilities 21,816us-gaap_DeferredRevenueLeasesGross [1] 4,516us-gaap_DeferredRevenueLeasesGross [1]
Distributions payable 10,903us-gaap_DividendsPayableCurrent [1] 11,105us-gaap_DividendsPayableCurrent [1]
Due to affiliates 103,434us-gaap_DueToAffiliateCurrentAndNoncurrent [1],[3] 1,522us-gaap_DueToAffiliateCurrentAndNoncurrent [1]
Total liabilities 5,310,556us-gaap_Liabilities [1] 513,435us-gaap_Liabilities [1]
Common stock, $0.01 par value, 1,500,000,000 and 240,000,000 shares authorized and 239,234,725 and 184,553,676 issued and outstanding at December 31, 2013 and 2012, respectively 2,392us-gaap_CommonStockValue [1] 1,846us-gaap_CommonStockValue [1]
Additional paid-in capital 2,940,907us-gaap_AdditionalPaidInCapital [1] 1,778,883us-gaap_AdditionalPaidInCapital [1]
Accumulated other comprehensive income (loss) 7,666us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax [1] (3,934)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax [1]
Accumulated deficit (877,957)us-gaap_RetainedEarningsAccumulatedDeficit [1] (124,286)us-gaap_RetainedEarningsAccumulatedDeficit [1]
Total stockholders' equity 2,073,430us-gaap_StockholdersEquity [1] 1,652,579us-gaap_StockholdersEquity [1]
Non-controlling interests 155,798us-gaap_MinorityInterest [1] 16,181us-gaap_MinorityInterest [1]
Total equity 2,229,228us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest [1] 1,668,760us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest [1]
Total liabilities and equity 7,809,083us-gaap_LiabilitiesAndStockholdersEquity [1] 2,182,195us-gaap_LiabilitiesAndStockholdersEquity [1]
Unsecured Debt [Member]    
LIABILITIES AND EQUITY    
Credit facilities 1,819,800us-gaap_LineOfCredit
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_UnsecuredDebtMember
[1] 0us-gaap_LineOfCredit
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_UnsecuredDebtMember
[1]
Senior Secured Credit Facility [Member]    
LIABILITIES AND EQUITY    
Credit facilities 150,000us-gaap_LineOfCredit
/ us-gaap_LongtermDebtTypeAxis
= arcp_SeniorSecuredCreditFacilityMember
[1] 0us-gaap_LineOfCredit
/ us-gaap_LongtermDebtTypeAxis
= arcp_SeniorSecuredCreditFacilityMember
[1]
Series D preferred stock [Member]    
LIABILITIES AND EQUITY    
Convertible preferred stock 269,299us-gaap_PreferredStockValue
/ us-gaap_StatementClassOfStockAxis
= arcp_ConvertiblePreferredSeriesDStockMember
[1] 0us-gaap_PreferredStockValue
/ us-gaap_StatementClassOfStockAxis
= arcp_ConvertiblePreferredSeriesDStockMember
[1]
Convertible Preferred Stock [Member]    
LIABILITIES AND EQUITY    
Convertible preferred stock $ 422us-gaap_PreferredStockValue
/ us-gaap_StatementClassOfStockAxis
= us-gaap_ConvertiblePreferredStockMember
[1] $ 70us-gaap_PreferredStockValue
/ us-gaap_StatementClassOfStockAxis
= us-gaap_ConvertiblePreferredStockMember
[1]
[1] For discussion on the restatement adjustments, see Note 2 - Restatement of Previously Issued Financial Statements.
[2] Certain line item captions have been updated since the recasted filing, which applied the carryover basis of accounting to include the effects of the merger with ARCT IV. This line item caption has been updated to prepaid expenses and other assets, net in the accompanying consolidated balance sheets.
[3] This line item caption has been added and is included in the accompanying consolidated balance sheets.