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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Rental revenue $ 312,043,000 $ 315,664,000 $ 628,886,000 $ 630,738,000
Operating expenses:        
Acquisition-related 985,000 909,000 1,970,000 1,686,000
Litigation and non-routine costs, net (3,769,000) 107,087,000 (25,261,000) 128,827,000
Property operating 32,503,000 31,436,000 64,881,000 62,001,000
General and administrative 16,416,000 16,287,000 31,262,000 31,527,000
Depreciation and amortization 118,022,000 164,235,000 254,577,000 330,387,000
Impairments 8,308,000 11,664,000 20,296,000 17,700,000
Restructuring 290,000 0 9,366,000 0
Total operating expenses 172,755,000 331,618,000 357,091,000 572,128,000
Other (expenses) income:        
Interest expense (69,803,000) (70,320,000) (141,057,000) (140,745,000)
(Loss) gain on extinguishment and forgiveness of debt, net (1,472,000) 5,249,000 (1,472,000) 5,249,000
Other income, net 3,175,000 1,320,000 2,773,000 9,029,000
Equity in income and gain on disposition of unconsolidated entities 505,000 327,000 1,005,000 1,392,000
Gain on disposition of real estate and real estate assets held for sale, net 221,755,000 5,821,000 232,586,000 23,156,000
Total other income (expenses), net 154,160,000 (57,603,000) 93,835,000 (101,919,000)
Income (loss) before taxes 293,448,000 (73,557,000) 365,630,000 (43,309,000)
Provision for income taxes (1,164,000) (1,134,000) (2,375,000) (2,346,000)
Income (loss) from continuing operations 292,284,000 (74,691,000) 363,255,000 (45,655,000)
Income from discontinued operations, net of income taxes 0 224,000 0 3,725,000
Net income (loss) 292,284,000 (74,467,000) 363,255,000 (41,930,000)
Net (income) loss attributable to non-controlling interests [1] (6,626,000) 1,797,000 (8,293,000) 1,055,000
Net income (loss) attributable to the General Partner / OP $ 285,658,000 $ (72,670,000) $ 354,962,000 $ (40,875,000)
Basic and diluted net income (loss) per share from continuing operations attributable to common stockholders (in dollars per share) $ 0.27 $ (0.09) $ 0.33 $ (0.08)
Basic and diluted net income per share from discontinued operations attributable to common stockholders (in dollars per share) 0 0.00 0 0.00
Basic and diluted net income (loss) per share attributable to common stockholders (in dollars per share) $ 0.27 $ (0.09) $ 0.33 $ (0.08)
VEREIT Operating Partnership, L.P. [Member]        
Rental revenue $ 312,043,000 $ 315,664,000 $ 628,886,000 $ 630,738,000
Operating expenses:        
Acquisition-related 985,000 909,000 1,970,000 1,686,000
Litigation and non-routine costs, net (3,769,000) 107,087,000 (25,261,000) 128,827,000
Property operating 32,503,000 31,436,000 64,881,000 62,001,000
General and administrative 16,416,000 16,287,000 31,262,000 31,527,000
Depreciation and amortization 118,022,000 164,235,000 254,577,000 330,387,000
Impairments 8,308,000 11,664,000 20,296,000 17,700,000
Restructuring 290,000 0 9,366,000 0
Total operating expenses 172,755,000 331,618,000 357,091,000 572,128,000
Other (expenses) income:        
Interest expense (69,803,000) (70,320,000) (141,057,000) (140,745,000)
(Loss) gain on extinguishment and forgiveness of debt, net (1,472,000) 5,249,000 (1,472,000) 5,249,000
Other income, net 3,175,000 1,320,000 2,773,000 9,029,000
Equity in income and gain on disposition of unconsolidated entities 505,000 327,000 1,005,000 1,392,000
Gain on disposition of real estate and real estate assets held for sale, net 221,755,000 5,821,000 232,586,000 23,156,000
Total other income (expenses), net 154,160,000 (57,603,000) 93,835,000 (101,919,000)
Income (loss) before taxes 293,448,000 (73,557,000) 365,630,000 (43,309,000)
Provision for income taxes (1,164,000) (1,134,000) (2,375,000) (2,346,000)
Income (loss) from continuing operations 292,284,000 (74,691,000) 363,255,000 (45,655,000)
Income from discontinued operations, net of income taxes 0 224,000 0 3,725,000
Net income (loss) 292,284,000 (74,467,000) 363,255,000 (41,930,000)
Net (income) loss attributable to non-controlling interests 30,000 16,000 58,000 56,000
Net income (loss) attributable to the General Partner / OP $ 292,314,000 $ (74,451,000) $ 363,313,000 $ (41,874,000)
Basic and diluted net income (loss) per unit from continuing operations attributable to common unitholders (in dollars per share) $ 0.27 $ (0.09) $ 0.33 $ (0.08)
Basic and diluted net income per unit from discontinued operations attributable to common unitholders (in dollars per share) 0 0.00 0 0.00
Basic and diluted net income (loss) per unit attributable to common unitholders (in dollars per share) $ 0.27 $ (0.09) $ 0.33 $ (0.08)
[1]
Represents (income) loss attributable to limited partners and a consolidated joint venture partner.