XML 306 R4.htm IDEA: XBRL DOCUMENT v3.19.3
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Rental revenue $ 302,985,000 $ 313,866,000 $ 931,871,000 $ 944,604,000
Operating expenses:        
Acquisition-related 1,199,000 810,000 3,169,000 2,496,000
Litigation and non-routine costs, net 832,024,000 138,595,000 806,763,000 267,422,000
Property operating 30,822,000 31,893,000 95,703,000 93,894,000
General and administrative 14,483,000 15,186,000 45,745,000 46,713,000
Depreciation and amortization 115,111,000 157,181,000 369,688,000 487,568,000
Impairments 3,944,000 18,382,000 24,240,000 36,082,000
Restructuring 783,000 0 10,149,000 0
Total operating expenses 998,366,000 362,047,000 1,355,457,000 934,175,000
Other (expenses) income:        
Interest expense (67,889,000) (69,310,000) (208,946,000) (210,055,000)
Gain (loss) on extinguishment and forgiveness of debt, net 975,000 90,000 (497,000) 5,339,000
Other income (loss), net 2,737,000 (947,000) 5,510,000 8,082,000
Equity in income and gain on disposition of unconsolidated entities 677,000 252,000 1,682,000 1,644,000
Gain on disposition of real estate and real estate assets held for sale, net 18,520,000 45,295,000 251,106,000 68,451,000
Total other expenses, net (44,980,000) (24,620,000) 48,855,000 (126,539,000)
Loss before taxes (740,361,000) (72,801,000) (374,731,000) (116,110,000)
Provision for income taxes (1,168,000) (1,141,000) (3,543,000) (3,487,000)
Loss from continuing operations (741,529,000) (73,942,000) (378,274,000) (119,597,000)
Income from discontinued operations, net of income taxes 0 0 0 3,725,000
Net loss (741,529,000) (73,942,000) (378,274,000) (115,872,000)
Net loss attributable to non-controlling interests [1] 15,089,000 1,825,000 6,796,000 2,880,000
Net loss attributable to the General Partner / OP $ (726,440,000) $ (72,117,000) $ (371,478,000) $ (112,992,000)
Basic and diluted net loss per share from continuing operations attributable to common stockholders (in dollars per share) $ (0.76) $ (0.09) $ (0.43) $ (0.18)
Basic and diluted net income per share from discontinued operations attributable to common stockholders (in dollars per share) 0 0 0 0.00
Basic and diluted net loss per share attributable to common stockholders (in dollars per share) [2] $ (0.76) $ (0.09) $ (0.43) $ (0.17)
VEREIT Operating Partnership, L.P. [Member]        
Rental revenue $ 302,985,000 $ 313,866,000 $ 931,871,000 $ 944,604,000
Operating expenses:        
Acquisition-related 1,199,000 810,000 3,169,000 2,496,000
Litigation and non-routine costs, net 832,024,000 138,595,000 806,763,000 267,422,000
Property operating 30,822,000 31,893,000 95,703,000 93,894,000
General and administrative 14,483,000 15,186,000 45,745,000 46,713,000
Depreciation and amortization 115,111,000 157,181,000 369,688,000 487,568,000
Impairments 3,944,000 18,382,000 24,240,000 36,082,000
Restructuring 783,000 0 10,149,000 0
Total operating expenses 998,366,000 362,047,000 1,355,457,000 934,175,000
Other (expenses) income:        
Interest expense (67,889,000) (69,310,000) (208,946,000) (210,055,000)
Gain (loss) on extinguishment and forgiveness of debt, net 975,000 90,000 (497,000) 5,339,000
Other income (loss), net 2,737,000 (947,000) 5,510,000 8,082,000
Equity in income and gain on disposition of unconsolidated entities 677,000 252,000 1,682,000 1,644,000
Gain on disposition of real estate and real estate assets held for sale, net 18,520,000 45,295,000 251,106,000 68,451,000
Total other expenses, net (44,980,000) (24,620,000) 48,855,000 (126,539,000)
Loss before taxes (740,361,000) (72,801,000) (374,731,000) (116,110,000)
Provision for income taxes (1,168,000) (1,141,000) (3,543,000) (3,487,000)
Loss from continuing operations (741,529,000) (73,942,000) (378,274,000) (119,597,000)
Income from discontinued operations, net of income taxes 0 0 0 3,725,000
Net loss (741,529,000) (73,942,000) (378,274,000) (115,872,000)
Net loss attributable to non-controlling interests [3] 25,000 57,000 83,000 113,000
Net loss attributable to the General Partner / OP $ (741,504,000) $ (73,885,000) $ (378,191,000) $ (115,759,000)
Basic and diluted net loss per unit from continuing operations attributable to common unitholders (in dollars per share) $ (0.76) $ (0.09) $ (0.43) $ (0.18)
Basic and diluted net income per unit from discontinued operations attributable to common unitholders (in dollars per share) 0 0 0 0.00
Basic and diluted net loss per unit attributable to common unitholders (in dollars per share) [4] $ (0.76) $ (0.09) $ (0.43) $ (0.17)
[1]
Represents loss attributable to limited partners and a consolidated joint venture partner.
[2] Amounts may not total due to rounding.
[3]
Represents net loss attributable to a consolidated joint venture partner.
[4] Amounts may not total due to rounding.