XML 24 R4.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Rental revenue $ 316,843,000 $ 315,074,000
Operating expenses:    
Acquisition-related 985,000 777,000
Insurance recoveries, net of litigation and non-routine costs (21,492,000) 21,740,000
Property operating 32,378,000 30,565,000
General and administrative 14,846,000 15,240,000
Depreciation and amortization 136,555,000 166,152,000
Impairments 11,988,000 6,036,000
Restructuring 9,076,000 0
Total operating expenses 184,336,000 240,510,000
Other (expenses) income:    
Interest expense (71,254,000) (70,425,000)
Other (loss) income, net (402,000) 7,709,000
Equity in income and gain on disposition of unconsolidated entities 500,000 1,065,000
Gain on disposition of real estate and real estate assets held for sale, net 10,831,000 17,335,000
Total other expenses, net (60,325,000) (44,316,000)
Income before taxes 72,182,000 30,248,000
Provision for income taxes (1,211,000) (1,212,000)
Income from continuing operations 70,971,000 29,036,000
Income from discontinued operations, net of income taxes 0 3,501,000
Net income 70,971,000 32,537,000
Net income attributable to non-controlling interests [1] (1,667,000) (742,000)
Net income attributable to the General Partner / OP $ 69,304,000 $ 31,795,000
Basic and diluted net income per share from continuing operations attributable to common stockholders (in dollars per share) $ 0.05 $ 0.01
Basic and diluted net income per share from discontinued operations attributable to common stockholders (in dollars per share) 0 0.00
Basic and diluted net income per share attributable to common stockholders (in dollars per share) $ 0.05 $ 0.01
VEREIT Operating Partnership, L.P. [Member]    
Rental revenue $ 316,843,000 $ 315,074,000
Operating expenses:    
Acquisition-related 985,000 777,000
Insurance recoveries, net of litigation and non-routine costs (21,492,000) 21,740,000
Property operating 32,378,000 30,565,000
General and administrative 14,846,000 15,240,000
Depreciation and amortization 136,555,000 166,152,000
Impairments 11,988,000 6,036,000
Restructuring 9,076,000 0
Total operating expenses 184,336,000 240,510,000
Other (expenses) income:    
Interest expense (71,254,000) (70,425,000)
Other (loss) income, net (402,000) 7,709,000
Equity in income and gain on disposition of unconsolidated entities 500,000 1,065,000
Gain on disposition of real estate and real estate assets held for sale, net 10,831,000 17,335,000
Total other expenses, net (60,325,000) (44,316,000)
Income before taxes 72,182,000 30,248,000
Provision for income taxes (1,211,000) (1,212,000)
Income from continuing operations 70,971,000 29,036,000
Income from discontinued operations, net of income taxes 0 3,501,000
Net income 70,971,000 32,537,000
Net income attributable to non-controlling interests 28,000 40,000
Net income attributable to the General Partner / OP $ 70,999,000 $ 32,577,000
Basic and diluted net income per unit from continuing operations attributable to common unitholders (in dollars per share) $ 0.05 $ 0.01
Basic and diluted net income per unit from discontinued operations attributable to common unitholders (in dollars per share) 0 0.00
Basic and diluted net income per unit attributable to common unitholders (in dollars per share) $ 0.05 $ 0.01
[1] Represents income attributable to limited partners and a consolidated joint venture partner.