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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues      
Minimum rents $ 105,074 $ 84,031 $ 64,278
Percentage rents 244 197 180
Operating cost reimbursement 10,752 7,267 5,277
Other 485 32 231
Total Revenues 116,555 91,527 69,966
Operating Expenses      
Real estate taxes 8,204 5,459 4,005
Property operating expenses 3,610 2,484 1,768
Land lease expense 653 653 606
General and administrative 9,949 8,015 6,988
Depreciation and amortization 31,752 23,407 16,486
Total Operating Expenses 54,168 40,018 29,853
Income from Operations 62,387 51,509 40,113
Other (Expense) Income      
Interest expense, net (18,137) (15,343) (12,305)
Gain (loss) on sale of assets, net 14,193 9,964 12,135
Loss on debt extinguishment 0 (333) (181)
Other income 347 0 0
Net Income 58,790 45,797 39,762
Less Net Income Attributable to Non-Controlling Interest 678 679 744
Net Income Attributable to Agree Realty Corporation $ 58,112 $ 45,118 $ 39,018
Net Income Per Share Attributable to Agree Realty Corporation      
Basic $ 2.09 $ 1.97 $ 2.17
Diluted $ 2.08 $ 1.97 $ 2.16
Other Comprehensive Income      
Net income $ 58,790 $ 45,797 $ 39,762
Other Comprehensive Income (Loss) - Gain (Loss) on Interest Rate Swaps 1,935 2,618 (1,093)
Total Comprehensive Income 60,725 48,415 38,669
Less Comprehensive Income Attributable to Non-Controlling Interest 702 703 724
Comprehensive Income Attributable to Agree Realty Corporation $ 60,023 $ 47,712 $ 37,945
Weighted Average Number of Common Shares Outstanding - Basic: 27,625,102 22,868,736 18,003,122
Weighted Average Number of Common Shares Outstanding - Diluted: 27,700,347 22,959,799 18,065,415