XML 28 R4.htm IDEA: XBRL DOCUMENT v3.20.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Total revenues $ 1,161,366,000 $ 1,238,054,000 $ 1,258,028,000
Operating expenses:      
Acquisition-related 4,790,000 4,337,000 3,632,000
Litigation and non-routine costs, net 2,348,000 815,422,000 290,963,000
Property operating 122,967,000 129,769,000 126,461,000
General and administrative 61,349,000 62,711,000 63,933,000
Depreciation and amortization 452,008,000 481,995,000 640,618,000
Impairments 65,075,000 47,091,000 54,647,000
Restructuring 0 10,505,000 0
Total operating expenses 708,537,000 1,551,830,000 1,180,254,000
Other (expenses) income:      
Interest expense (265,660,000) (278,574,000) (280,887,000)
(Loss) gain on extinguishment and forgiveness of debt, net (1,486,000) (17,910,000) 5,360,000
Other income, net 6,610,000 12,209,000 14,574,000
(Loss) gain on derivative instruments, net (85,392,000) (58,000) 355,000
Equity in income and gain on disposition of unconsolidated entities 3,539,000 2,618,000 1,869,000
Gain on disposition of real estate and real estate assets held for sale, net 95,292,000 292,647,000 94,331,000
Total other (expenses) income, net (247,097,000) 10,932,000 (164,398,000)
Income (loss) before taxes 205,732,000 (302,844,000) (86,624,000)
Provision for income taxes (4,513,000) (4,262,000) (5,101,000)
Income (loss) from continuing operations 201,219,000 (307,106,000) (91,725,000)
Income from discontinued operations, net of income taxes 0 0 3,695,000
Net income (loss) 201,219,000 (307,106,000) (88,030,000)
Net (income) loss attributable to non-controlling interests [1] (91,000) 6,753,000 2,256,000
Net income (loss) attributable to the General Partner/OP $ 201,128,000 $ (300,353,000) $ (85,774,000)
Basic and diluted net income (loss) per share from continuing operations attributable to common stockholders (in dollars per share) $ 0.72 $ (1.85) $ (0.83)
Basic and diluted net income (loss) per share from discontinued operations attributable to common stockholders (in dollars per share) 0 0 0.02
Basic and diluted net income (loss) per share attributable to common stockholders (in dollars per share) $ 0.72 $ (1.85) $ (0.81)
VEREIT Operating Partnership, L.P. [Member]      
Total revenues $ 1,161,366,000 $ 1,238,054,000 $ 1,258,028,000
Operating expenses:      
Acquisition-related 4,790,000 4,337,000 3,632,000
Litigation and non-routine costs, net 2,348,000 815,422,000 290,963,000
Property operating 122,967,000 129,769,000 126,461,000
General and administrative 61,349,000 62,711,000 63,933,000
Depreciation and amortization 452,008,000 481,995,000 640,618,000
Impairments 65,075,000 47,091,000 54,647,000
Restructuring 0 10,505,000 0
Total operating expenses 708,537,000 1,551,830,000 1,180,254,000
Other (expenses) income:      
Interest expense (265,660,000) (278,574,000) (280,887,000)
(Loss) gain on extinguishment and forgiveness of debt, net (1,486,000) (17,910,000) 5,360,000
Other income, net 6,610,000 12,209,000 14,574,000
(Loss) gain on derivative instruments, net (85,392,000) (58,000) 355,000
Equity in income and gain on disposition of unconsolidated entities 3,539,000 2,618,000 1,869,000
Gain on disposition of real estate and real estate assets held for sale, net 95,292,000 292,647,000 94,331,000
Total other (expenses) income, net (247,097,000) 10,932,000 (164,398,000)
Income (loss) before taxes 205,732,000 (302,844,000) (86,624,000)
Provision for income taxes (4,513,000) (4,262,000) (5,101,000)
Income (loss) from continuing operations 201,219,000 (307,106,000) (91,725,000)
Income from discontinued operations, net of income taxes 0 0 3,695,000
Net income (loss) 201,219,000 (307,106,000) (88,030,000)
Net (income) loss attributable to non-controlling interests [2] 59,000 102,000 154,000
Net income (loss) attributable to the General Partner/OP $ 201,278,000 $ (307,004,000) $ (87,876,000)
Basic and diluted net income (loss) per share from discontinued operations attributable to common stockholders (in dollars per share) $ 0.72 $ (1.85) $ (0.83)
Basic and diluted net income (loss) per share from discontinued operations attributable to common stockholders (in dollars per share) 0 0 0.02
Basic and diluted net income (loss) per share attributable to common stockholders (in dollars per share) $ 0.72 $ (1.85) $ (0.81)
Rental Revenue [Member]      
Total revenues $ 1,158,285,000 $ 1,237,234,000 $ 1,257,867,000
Rental Revenue [Member] | VEREIT Operating Partnership, L.P. [Member]      
Total revenues 1,158,285,000 1,237,234,000 1,257,867,000
Fees From Managed Partnership [Member]      
Total revenues 3,081,000 820,000 161,000
Fees From Managed Partnership [Member] | VEREIT Operating Partnership, L.P. [Member]      
Total revenues $ 3,081,000 $ 820,000 $ 161,000
[1] Represents net (income) loss attributable to limited partners and a consolidated joint venture partner.
[2] Represents net loss attributable to a consolidated joint venture partner.