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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues        
Rental income $ 82,494 $ 57,476 $ 160,253 $ 113,259
Other 52 59 121 85
Total Revenues 82,546 57,535 160,374 113,344
Operating Expenses        
Real estate taxes 6,158 4,840 11,855 9,542
Property operating expenses 3,214 1,860 6,755 4,195
Land lease expense 389 325 736 652
General and administrative 6,241 4,587 13,118 9,244
Depreciation and amortization 23,188 15,607 44,676 29,740
Provision for impairment 0 1,128 0 1,128
Total Operating Expenses 39,190 28,347 77,140 54,501
Income from Operations 43,356 29,188 83,234 58,843
Other (Expense) Income        
Interest expense, net (12,549) (8,479) (24,202) (18,149)
Gain (loss) on sale of assets, net 6,767 4,952 9,712 6,597
Income tax (expense) benefit (485) (260) (1,494) (520)
Gain (loss) on early extinguishment of term loans and settlement of related interest rate swaps (14,614)   (14,614)  
Other (expense) income (14) 23 103 23
Net Income 22,461 25,424 52,739 46,794
Less net income attributable to non-controlling interest 114 166 280 308
Net Income Attributable to Agree Realty Corporation $ 22,347 $ 25,258 $ 52,459 $ 46,486
Net Income Per Share Attributable to Agree Realty Corporation        
Basic $ 0.34 $ 0.47 $ 0.82 $ 0.94
Diluted $ 0.34 $ 0.47 $ 0.82 $ 0.93
Other Comprehensive Income        
Net income $ 22,461 $ 25,424 $ 52,739 $ 46,794
Realized gain (loss) on settlement of interest rate swaps 287 (17) 787 (33)
Other comprehensive income (loss) - change in fair value and settlement of interest rate swaps 2,230 (2,244) 27,376 (35,269)
Total comprehensive income (loss) 24,978 23,163 80,902 11,492
Less comprehensive income (loss) attributable to non-controlling interest 128 151 294 42
Comprehensive Income (Loss) Attributable to Agree Realty Corporation $ 24,850 $ 23,012 $ 80,608 $ 11,450
Weighted Average Number of Common Shares Outstanding - Basic 64,835,984 52,726,230 63,838,070 49,082,616
Weighted Average Number of Common Shares Outstanding - Diluted 65,185,604 53,266,740 64,079,697 49,423,546