XML 24 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues:        
Rental income $ 289,033 $ 282,717 $ 870,305 $ 863,583
Operating expense reimbursements 24,833 23,826 74,299 72,103
Total revenues 313,866 306,543 944,604 935,686
Operating expenses:        
Acquisition-related 810 909 2,496 2,282
Litigation and other non-routine costs, net of insurance recoveries 138,595 9,507 267,422 36,793
Property operating 31,893 30,645 93,894 96,288
General and administrative 15,186 13,221 46,713 40,329
Depreciation and amortization 157,181 172,383 487,568 531,543
Impairments 18,382 6,363 36,082 30,857
Total operating expenses 362,047 233,028 934,175 738,092
Operating (loss) income (48,181) 73,515 10,429 197,594
Other (expense) income:        
Interest expense (69,310) (71,708) (210,055) (219,072)
Gain on extinguishment and forgiveness of debt, net 90 9,756 5,339 18,691
Other (loss) income, net (1,016) 1,131 7,635 4,253
Equity in income and gain on disposition of unconsolidated entities 252 374 1,644 805
Gain on derivative instruments, net 69 1,294 447 2,710
Gain (loss) on disposition of real estate and real estate assets held for sale, net 45,295 (688) 68,451 54,432
Total other expenses, net (24,620) (59,841) (126,539) (138,181)
(Loss) income before taxes (72,801) 13,674 (116,110) 59,413
Provision for income taxes (1,141) (1,185) (3,487) (5,439)
(Loss) income from continuing operations (73,942) 12,489 (119,597) 53,974
Income from discontinued operations, net of income taxes 0 4,005 3,725 11,496
Net (loss) income (73,942) 16,494 (115,872) 65,470
Net loss (income) attributable to non-controlling interests [1] 1,825 (400) 2,880 (1,530)
Net (loss) income attributable to the General Partner/OP $ (72,117) $ 16,094 $ (112,992) $ 63,940
Basic and diluted net (loss) income per share from continuing operations attributable to common stockholders (in dollars per share) $ (0.09) $ (0.01) $ (0.18) $ 0.00
Basic and diluted net income per share from discontinued operations attributable to common stockholders (in dollars per share) 0.00 0.00 0.00 0.01
Basic and diluted net (loss) income per share attributable to common stockholders (in dollars per share) [2] $ (0.09) $ 0.00 $ (0.17) $ 0.01
VEREIT Operating Partnership, L.P. [Member]        
Revenues:        
Rental income $ 289,033 $ 282,717 $ 870,305 $ 863,583
Operating expense reimbursements 24,833 23,826 74,299 72,103
Total revenues 313,866 306,543 944,604 935,686
Operating expenses:        
Acquisition-related 810 909 2,496 2,282
Litigation and other non-routine costs, net of insurance recoveries 138,595 9,507 267,422 36,793
Property operating 31,893 30,645 93,894 96,288
General and administrative 15,186 13,221 46,713 40,329
Depreciation and amortization 157,181 172,383 487,568 531,543
Impairments 18,382 6,363 36,082 30,857
Total operating expenses 362,047 233,028 934,175 738,092
Operating (loss) income (48,181) 73,515 10,429 197,594
Other (expense) income:        
Interest expense (69,310) (71,708) (210,055) (219,072)
Gain on extinguishment and forgiveness of debt, net 90 9,756 5,339 18,691
Other (loss) income, net (1,016) 1,131 7,635 4,253
Equity in income and gain on disposition of unconsolidated entities 252 374 1,644 805
Gain on derivative instruments, net 69 1,294 447 2,710
Gain (loss) on disposition of real estate and real estate assets held for sale, net 45,295 (688) 68,451 54,432
Total other expenses, net (24,620) (59,841) (126,539) (138,181)
(Loss) income before taxes (72,801) 13,674 (116,110) 59,413
Provision for income taxes (1,141) (1,185) (3,487) (5,439)
(Loss) income from continuing operations (73,942) 12,489 (119,597) 53,974
Income from discontinued operations, net of income taxes 0 4,005 3,725 11,496
Net (loss) income (73,942) 16,494 (115,872) 65,470
Net loss (income) attributable to non-controlling interests [3] 57 (9) 113 12
Net (loss) income attributable to the General Partner/OP $ (73,885) $ 16,485 $ (115,759) $ 65,482
Basic and diluted net (loss) income per unit from continuing operations attributable to common unitholders (in dollars per share) $ (0.09) $ (0.01) $ (0.18) $ 0.00
Basic and diluted net income per unit from discontinued operations attributable to common unitholders (in dollars per share) 0.00 0.00 0.00 0.01
Basic and diluted net (loss) income per unit attributable to common unitholders (in dollars per share) [4] $ (0.09) $ 0.00 $ (0.17) $ 0.01
[1] Represents net loss (income) attributable to limited partners and consolidated joint venture partners.
[2] Amounts may not total due to rounding.
[3] Represents net loss (income) attributable to consolidated joint venture partners.
[4] Amounts may not total due to rounding.