|
Consolidated Statements of Operations (USD $) In Thousands, except Share data, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2014
|
Dec. 31, 2013
|
Dec. 31, 2012
|
| Revenues: |
|
|
|
| Rentals |
$ 574,456 |
$ 404,402 |
$ 266,567 |
| Interest income on loans receivable |
7,239 |
5,928 |
5,696 |
| Earned income from direct financing leases |
3,343 |
1,572 |
0 |
| Tenant reimbursement income |
13,085 |
5,637 |
0 |
| Interest income and other |
4,748 |
1,928 |
852 |
| Total revenues |
602,871 |
419,467 |
273,115 |
| Expenses: |
|
|
|
| General and administrative |
44,252 |
35,146 |
36,252 |
| Finance restructuring charges |
13,022 |
717 |
0 |
| Merger costs |
0 |
56,644 |
0 |
| Property costs |
23,383 |
11,760 |
5,176 |
| Real estate acquisition costs |
3,631 |
1,718 |
1,054 |
| Interest |
220,070 |
179,267 |
156,220 |
| Depreciation and amortization |
247,966 |
164,054 |
104,984 |
| Impairments (recoveries) |
36,019 |
(185) |
8,918 |
| Total expenses |
588,343 |
449,121 |
312,604 |
| Income (loss) from continuing operations before other expense and income tax expense |
14,528 |
(29,654) |
(39,489) |
| Other expense: |
|
|
|
| Loss on debt extinguishment |
(64,750) |
(2,405) |
(32,522) |
| Total other expense |
(64,750) |
(2,405) |
(32,522) |
| Loss from continuing operations before income tax expense |
(50,222) |
(32,059) |
(72,011) |
| Income tax expense |
673 |
1,113 |
504 |
| Loss from continuing operations |
(50,895) |
(33,172) |
(72,515) |
| Discontinued operations: |
|
|
|
| Income (loss) from discontinued operations |
3,368 |
(2,077) |
(369) |
| Gain (loss) on dispositions of assets |
488 |
36,926 |
(3,349) |
| Income (loss) from discontinued operations |
3,856 |
34,849 |
(3,718) |
| (Loss) income before dispositions of assets |
(47,039) |
1,677 |
(76,233) |
| Gain on dispositions of assets |
13,240 |
0 |
0 |
| Net (loss) income |
(33,799) |
1,677 |
(76,233) |
| Less: preferred dividends |
0 |
0 |
(63) |
| Net (loss) income attributable to common stockholders |
$ (33,799) |
$ 1,677 |
$ (76,296) |
| Net (loss) income per share of common stock—basic and diluted: |
|
|
|
| Continuing operations (in dollars per share) |
$ (0.10) |
$ (0.14) |
$ (0.92) |
| Discontinued operations (in dollars per share) |
$ 0.01 |
$ 0.14 |
$ (0.05) |
| Net (loss) income per share attributable to common stockholders - basic and diluted (in dollars per share) |
$ (0.09) |
$ 0.00 |
$ (0.97) |
| Weighted average common shares outstanding: |
|
|
|
| Basic and diluted (in shares) |
386,809,746 |
255,020,565 |
78,625,102 |