Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2015

The following tables present a summary of the comparative financial results and total assets for each segment (in thousands):



	Year Ended December 31,
	2015			2014			2013
REI segment:
Revenues:
Rental income	$	1,339,787		$	1,271,574		$	310,508
Direct financing lease income	2,720			3,603			2,244
Operating expense reimbursements	98,628			100,522			16,571
Total real estate investment revenues	1,441,135			1,375,699			329,323
Operating expenses:
Acquisition related	5,649			35,578			76,113
Merger and other non-routine transactions, net of insurance recoveries	33,628			197,647			210,543
Property operating	130,855			137,741			23,629
Management fees to affiliates	—			13,888			17,462
General and administrative	64,691			76,261			120,998
Depreciation and amortization	817,477			844,743			210,976
Impairment of real estate	91,755			100,547			3,346
Total operating expenses	1,144,055			1,406,405			663,067
Operating income (loss)	297,080			(30,706		)	(333,744		)
Other (expense) income:
Interest expense	(358,392		)	(452,648		)	(105,548		)
Gain (loss) on extinguishment and forgiveness of debt, net	4,812			(21,869		)	—
Other income, net	6,251			79,542			3,824
Reserve for loan loss	(15,300		)	—			—
Gain on disposition of interest in joint venture	6,729			—			—
Loss on derivative instruments, net	(1,460		)	(10,570		)	(67,946		)
Gain (loss) on investment securities	65			6,357			(2,206		)
Total other expenses, net	(357,295		)	(399,188		)	(171,876		)
Loss before taxes and real estate dispositions	(60,215		)	(429,894		)	(505,620		)
Loss on disposition of real estate, net	(72,311		)	(277,031		)	—
Loss before taxes	(132,526		)	(706,925		)	(505,620		)
Provision for income taxes	(3,569		)	(7,313		)	(2,195		)
Net loss	$	(136,095	)	$	(714,238	)	$	(507,815	)



	Year Ended December 31,
	2015			2014			2013
Cole Capital segment:
Revenues:
Offering-related fees and reimbursements	$	24,410		$	87,109		$	—
Transaction service fees and reimbursements	30,109			64,956			—
Management fees and reimbursements	60,363			51,493			—
Total Cole Capital revenues	114,882			203,558			—
Operating expenses:
Cole Capital reallowed fees and commissions	16,195			66,228			—
Acquisition related	594			3,362			—
Merger and other non-routine transactions, net of insurance recoveries	—			1,969			—
General and administrative	84,375			91,167			—
Depreciation and amortization	30,134			71,260			—
Impairments of goodwill and intangibles	213,339			309,444			—
Total operating expenses	344,637			543,430			—
Operating loss	(229,755		)	(339,872		)	—
Total other income, net	2,486			2,621			—
Loss before taxes	(227,269		)	(337,251		)	—
Benefit from income taxes	39,872			40,577			—
Net loss	$	(187,397	)	$	(296,674	)	$	—

Total Company:
Total revenues	$	1,556,017		$	1,579,257		$	329,323
Total operating expenses	$	1,488,692		$	1,949,835		$	663,067
Total other expense, net	$	(354,809	)	$	(396,567	)	$	(171,876	)
Net loss	$	(323,492	)	$	(1,010,912	)	$	(507,815	)