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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Rental income $ 303,383 $ 333,766 $ 928,706 $ 1,017,708
Direct financing lease income 494 659 1,598 2,097
Operating expense reimbursements 27,969 22,983 77,862 71,269
Cole Capital revenue 31,069 27,546 94,788 81,569
Total revenues 362,915 384,954 1,102,954 1,172,643
Operating expenses:        
Cole Capital reallowed fees and commissions 5,897 3,896 20,940 9,637
Acquisition related 90 1,764 373 5,509
Litigation and other non-routine costs, net of insurance recoveries 4,630 8,032 2,372 41,319
Property operating 34,820 31,950 107,832 95,547
General and administrative 29,761 32,842 92,255 99,906
Depreciation and amortization 195,173 208,542 596,826 645,196
Impairments 6,872 0 176,214 85,341
Total operating expenses 277,243 287,026 996,812 982,455
Operating income 85,672 97,928 106,142 190,188
Other (expense) income:        
Interest expense (79,869) (89,530) (242,763) (275,801)
(Loss) gain on extinguishment and forgiveness of debt, net (2,003) 0 (1,751) 5,302
Other income, net 1,744 2,368 4,022 10,255
Equity in income and gain on disposition of unconsolidated entities 212 6,837 10,686 8,340
Loss on derivative instruments, net (2,023) (1,420) (3,286) (2,137)
Total other expenses, net (81,939) (81,745) (233,092) (254,041)
Income (loss) before taxes and real estate dispositions 3,733 16,183 (126,950) (63,853)
Gain (loss) on disposition of real estate, net 28,111 (6,542) 45,723 (62,584)
Income (loss) before taxes 31,844 9,641 (81,227) (126,437)
Provision for income taxes (1,598) (1,500) (1,374) (4,824)
Net income (loss) 30,246 8,141 (82,601) (131,261)
Net (income) loss attributable to non-controlling interests [1] (751) (612) 2,156 2,298
Net income (loss) attributable to the General Partner / OP $ 29,495 $ 7,529 $ (80,445) $ (128,963)
Basic and diluted net income (loss) per share attributable to common stockholders and limited partners (in dollars per share) $ 0.01 $ (0.01) $ (0.15) $ (0.20)
Distributions declared per common share / unit (in dollars per share) $ 0.14 $ 0.14 $ 0.41 $ 0.14
VEREIT Operating Partnership, L.P. [Member]        
Revenues:        
Rental income $ 303,383 $ 333,766 $ 928,706 $ 1,017,708
Direct financing lease income 494 659 1,598 2,097
Operating expense reimbursements 27,969 22,983 77,862 71,269
Cole Capital revenue 31,069 27,546 94,788 81,569
Total revenues 362,915 384,954 1,102,954 1,172,643
Operating expenses:        
Cole Capital reallowed fees and commissions 5,897 3,896 20,940 9,637
Acquisition related 90 1,764 373 5,509
Litigation and other non-routine costs, net of insurance recoveries 4,630 8,032 2,372 41,319
Property operating 34,820 31,950 107,832 95,547
General and administrative 29,761 32,842 92,255 99,906
Depreciation and amortization 195,173 208,542 596,826 645,196
Impairments 6,872 0 176,214 85,341
Total operating expenses 277,243 287,026 996,812 982,455
Operating income 85,672 97,928 106,142 190,188
Other (expense) income:        
Interest expense (79,869) (89,530) (242,763) (275,801)
(Loss) gain on extinguishment and forgiveness of debt, net (2,003) 0 (1,751) 5,302
Other income, net 1,744 2,368 4,022 10,255
Equity in income and gain on disposition of unconsolidated entities 212 6,837 10,686 8,340
Loss on derivative instruments, net (2,023) (1,420) (3,286) (2,137)
Total other expenses, net (81,939) (81,745) (233,092) (254,041)
Income (loss) before taxes and real estate dispositions 3,733 16,183 (126,950) (63,853)
Gain (loss) on disposition of real estate, net 28,111 (6,542) 45,723 (62,584)
Income (loss) before taxes 31,844 9,641 (81,227) (126,437)
Provision for income taxes (1,598) (1,500) (1,374) (4,824)
Net income (loss) 30,246 8,141 (82,601) (131,261)
Net (income) loss attributable to non-controlling interests [2] (12) (404) 23 (1,197)
Net income (loss) attributable to the General Partner / OP $ 30,234 $ 7,737 $ (82,578) $ (132,458)
Basic and diluted net income (loss) per unit attributable to common unitholders (in dollars per share) $ 0.01 $ (0.01) $ (0.15) $ (0.20)
Distributions declared per common share / unit (in dollars per share) $ 0.14 $ 0.14 $ 0.41 $ 0.14
[1] Represents (income) loss attributable to limited partners and consolidated joint venture partners.
[2] Represents (income) loss attributable to consolidated joint venture partners.