Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2014

The following summarizes the Company’s goodwill activity during the six months ended June 30, 2014 by segment (in thousands):


	REI Segment			Cole Capital		Consolidated
Balance as of January 1, 2014	$	92,789		$	—	$	92,789
Cole Merger ⁽¹⁾		1,654,085			558,835		2,212,920
Goodwill allocated to dispositions ⁽²⁾		(12,689	)		—		(12,689	)

Balance as of June 30, 2014	$	1,734,185		$	558,835	$	2,293,020

(1)

Goodwill recognized from the Cole Merger was assigned to the REI segment and Cole Capital based on the excess consideration paid over the fair value of the assets and liabilities acquired and assumed in each segment. Refer to Note 5 — Acquisitions of CapLease, Cole and CCPT (As Restated) for further discussion.

(2)	Goodwill allocated to the cost basis of properties sold or classified as held for sale is included in loss on held for sale assets and disposition of properties, net, in the consolidated statement of operations.

Merger and other non-routine transaction related expenses include the following costs (amounts in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
	(As Restated)		(As Restated)		(As Restated)		(As Restated)
Merger related costs:
Strategic advisory services	$	—	$	1,500	$	32,615	$	11,799
Transfer Taxes		—		—		5,109		1,085
Legal fees and expenses		1,563		1,511		4,547		3,191
Personnel costs and other reimbursement		—		255		751		639
Multi-tenant spin off		2,859		—		5,180		—
Proxy support services		—		—		—		—
Other fees and expenses		346		2,594		1,676		5,459
Other non-routine costs
Post-transaction support services		—		—		14,251		2,000
Subordinated distribution fees		—		—		78,244		98,360
Merger consideration		—		—		—		—
Furniture, fixtures and equipment		—		—		14,085		5,800
Legal fees and expenses		—		—		1,826		950
Personnel costs and other reimbursement		275		—		2,718		—
Other fees and expenses		2,379		5		6,718		150

Total	$	7,422	$	5,865	$	167,720	$	129,433