XML 24 R4.htm IDEA: XBRL DOCUMENT v3.4.0.3
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Revenues:    
Rental income $ 313,971 $ 342,759
Direct financing lease income 569 741
Operating expense reimbursements 23,247 22,974
Cole Capital revenue 31,233 27,494
Total revenues 369,020 393,968
Operating expenses:    
Cole Capital reallowed fees and commissions 8,068 2,031
Acquisition related 242 2,182
Litigation and other non-routine costs, net of insurance recoveries (5,175) 16,423
Property operating 34,813 30,999
General and administrative 29,400 33,106
Depreciation and amortization 204,308 219,141
Impairments 160,517 0
Total operating expenses 432,173 303,882
Operating (loss) income (63,153) 90,086
Other (expense) income:    
Interest expense (80,426) (95,699)
Gain on extinguishment and forgiveness of debt, net 0 5,302
Other income, net 1,062 4,060
Equity in income and gain on disposition of unconsolidated entities 10,404 28
Loss on derivative instruments, net (1,086) (1,028)
Total other expenses, net (70,046) (87,337)
(Loss) income before taxes and real estate dispositions (133,199) 2,749
Gain (loss) on disposition of real estate, net 17,175 (31,368)
Loss before taxes (116,024) (28,619)
Provision for income taxes (56) (2,074)
Net loss (116,080) (30,693)
Net loss (income) attributable to non-controlling interests [1] 2,994 723
Net loss attributable to the General Partner / OP $ (113,086) $ (29,970)
Basic and diluted net loss per share attributable to common stockholders (in dollars per share) $ (0.15) $ (0.05)
Distributions declared per common share / unit (in dollars per share) $ 0.14 $ 0
VEREIT Operating Partnership, L.P. [Member]    
Revenues:    
Rental income $ 313,971 $ 342,759
Direct financing lease income 569 741
Operating expense reimbursements 23,247 22,974
Cole Capital revenue 31,233 27,494
Total revenues 369,020 393,968
Operating expenses:    
Cole Capital reallowed fees and commissions 8,068 2,031
Acquisition related 242 2,182
Litigation and other non-routine costs, net of insurance recoveries (5,175) 16,423
Property operating 34,813 30,999
General and administrative 29,400 33,106
Depreciation and amortization 204,308 219,141
Impairments 160,517 0
Total operating expenses 432,173 303,882
Operating (loss) income (63,153) 90,086
Other (expense) income:    
Interest expense (80,426) (95,699)
Gain on extinguishment and forgiveness of debt, net 0 5,302
Other income, net 1,062 4,060
Equity in income and gain on disposition of unconsolidated entities 10,404 28
Loss on derivative instruments, net (1,086) (1,028)
Total other expenses, net (70,046) (87,337)
(Loss) income before taxes and real estate dispositions (133,199) 2,749
Gain (loss) on disposition of real estate, net 17,175 (31,368)
Loss before taxes (116,024) (28,619)
Provision for income taxes (56) (2,074)
Net loss (116,080) (30,693)
Net loss (income) attributable to non-controlling interests [2] 39 (180)
Net loss attributable to the General Partner / OP $ (116,041) $ (30,873)
Basic and diluted net loss per unit attributable to common unitholders (in dollars per share) $ (0.15) $ (0.05)
Distributions declared per common share / unit (in dollars per share) $ 0.14 $ 0
[1] Represents loss attributable to limited partners and consolidated joint venture partners.
[2] Represents loss (income) attributable to consolidated joint venture partners.