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QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

The following table unaudited summary information of the Company's quarterly operations.
 
2017
 
Quarter Ended
 
Year Ended December 31
(in thousands except share and per share data)

March 31
 
June 30
 
September 30
 
December 31(1)
 
Total revenues
$
44,673

 
$
51,194

 
$
60,362

 
$
61,430

 
$
217,659

Total expenses
52,264

 
58,315

 
66,328

 
80,023

 
256,930

Total other (expense) income
(1,409
)
 
1,776

 
5,204

 
12,414

 
17,985

(Loss) income before income taxes
(9,000
)
 
(5,345
)
 
(762
)
 
(6,179
)
 
(21,286
)
Provision for income taxes
212

 
464

 
909

 
369

 
1,954

Net (loss) income
(9,212
)
 
(5,809
)
 
(1,671
)
 
(6,548
)
 
(23,240
)
Net loss attributable to non-controlling interests in consolidated subsidiaries
(4,798
)
 
(4,349
)
 
(4,669
)
 
(9,558
)
 
(23,374
)
Net (loss) income attributable to shareholders
$
(4,414
)
 
$
(1,460
)
 
$
2,998

 
$
3,010

 
$
134

 
 
 
 
 
 
 
 
 
 
(Loss) earnings per share:
 
 
 
 
 
 
 
 
 
Basic
$
(0.06
)
 
$
(0.02
)
 
$
0.04

 
$
0.04

 
$
—

Diluted
$
(0.06
)
 
$
(0.02
)
 
$
0.04

 
$
0.04

 
$
—

Weighted Average Shares Outstanding:
 
 
 
 
 
 
 
 
 
Basic
75,762,283

 
75,762,674

 
75,770,529

 
75,771,738

 
75,766,811

Diluted
75,762,283

 
75,762,674

 
75,770,665

 
75,772,867

 
75,766,811

_____________________________________________________
(1)Results of operations for the three months ended December 31, 2017 include a $5.9 million out of period adjustment to interest expense, which relates to interest previously capitalized that should have been expensed ratably during the first nine months of 2017. The impact of the out of period adjustment for the three months ended December 31, 2017, was a decrease of $3.6 million to net (loss) income attributed to shareholders. The Company does not believe this out of period adjustment is material to its financial position, or results of operations for any prior periods.
 
2016
 
Quarter Ended
 
Year Ended December 31
(in thousands except share and per share data)
March 31
 
June 30
 
September 30
 
December 31
 
Total revenues
$
31,453

 
$
33,195

 
$
41,726

 
$
42,346

 
$
148,720

Total expenses
40,873

 
46,839

 
46,859

 
46,137

 
180,708

Total other income (expense)
277

 
(6,234
)
 
(430
)
 
(1,955
)
 
(8,342
)
Loss before income taxes
(9,143
)
 
(19,878
)
 
(5,563
)
 
(5,746
)
 
(40,330
)
(Benefit) provision for income taxes
(66
)
 
178

 
83

 
73

 
268

Net loss
(9,077
)
 
(20,056
)
 
(5,646
)
 
(5,819
)
 
(40,598
)
Net loss attributable to non-controlling interests in consolidated subsidiaries
(3,295
)
 
(8,863
)
 
(4,370
)
 
(4,006
)
 
(20,534
)
Net loss attributable to shareholders
$
(5,782
)
 
$
(11,193
)
 
$
(1,276
)
 
$
(1,813
)
 
$
(20,064
)
 
 
 
 
 
 
 
 
 
 
Loss per Share:
 
 
 
 
 
 
 
 
 
Basic
$
(0.08
)
 
$
(0.15
)
 
$
(0.02
)
 
$
(0.02
)
 
$
(0.26
)
Diluted
$
(0.08
)
 
$
(0.15
)
 
$
(0.02
)
 
$
(0.02
)
 
$
(0.26
)
Weighted Average Shares Outstanding:
 
 
 
 
 
 
 
 
 
Basic
75,727,369

 
75,730,165

 
75,746,200

 
75,750,943

 
75,738,698

Diluted
75,727,369

 
75,730,165

 
75,746,200

 
75,750,943

 
75,738,698