Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2014

The following summarizes the Company’s goodwill activity during the nine months ended September 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⁾		(209,259	)		—		(209,259	)

Balance as of September 30, 2014	$	1,537,615		$	558,835	$	2,096,450

(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 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 September 30,					Nine Months Ended September 30,
	2014		2013 (As Corrected)			2014		2013 (As Corrected)
Merger related costs:
Strategic advisory services	$	3,150	$	750		$	35,765	$	12,549
Transfer taxes		—		—			5,109		1,085
Legal fees and expenses		579		2,052			5,126		5,242
Personnel costs and other reimbursements		—		348			751		987
Multi-tenant spin-off		2,270		—			7,450		—
Other fees and expenses		—		(52	)		1,676		5,408
Other non-routine costs
Post-transaction support services		—		1,200			14,251		3,200
Subordinated distribution fees		—		—			78,244		98,360
Furniture, fixtures and equipment		—		—			14,085		5,800
Legal fees and expenses		743		—			2,569		950
Personnel costs and other reimbursements		—		—			2,718		—
Other fees and expenses		890		3			7,608		153

Total	$	7,632	$	4,301		$	175,352	$	133,734