Consolidated Statements of Operations - USD ($) $ in Thousands |
3 Months Ended |
6 Months Ended |
Jun. 30, 2017 |
Jun. 30, 2016 |
Jun. 30, 2017 |
Jun. 30, 2016 |
| Revenues: |
|
|
|
|
| Rentals |
$ 160,487
|
$ 160,506
|
$ 319,707
|
$ 322,325
|
| Interest income on loans receivable |
874
|
1,625
|
1,766
|
3,284
|
| Earned income from direct financing leases |
518
|
698
|
1,130
|
1,422
|
| Tenant reimbursement income |
4,480
|
3,200
|
8,445
|
7,024
|
| Other income |
2,276
|
5,697
|
3,009
|
6,028
|
| Total revenues |
168,635
|
171,726
|
334,057
|
340,083
|
| Expenses: |
|
|
|
|
| General and administrative |
22,862
|
13,850
|
36,280
|
25,499
|
| Restructuring charges |
|
1,813
|
0
|
2,462
|
| Transaction costs |
485
|
0
|
485
|
0
|
| Property costs |
9,632
|
6,611
|
18,683
|
13,938
|
| Real estate acquisition costs |
424
|
979
|
577
|
1,036
|
| Interest |
46,826
|
49,172
|
93,449
|
102,189
|
| Depreciation and amortization |
64,220
|
64,263
|
129,214
|
128,927
|
| Impairments |
15,996
|
13,371
|
50,372
|
25,989
|
| Total expenses |
160,445
|
150,059
|
329,060
|
300,040
|
| Income before other income/(expense) and income tax expense |
8,190
|
21,667
|
4,997
|
40,043
|
| Other income (expense): |
|
|
|
|
| Gain (loss) on debt extinguishment |
8
|
14,016
|
(22)
|
8,675
|
| Total other income (expense) |
8
|
14,016
|
(22)
|
8,675
|
| Income before income tax expense |
8,198
|
35,683
|
4,975
|
48,718
|
| Income tax expense |
(265)
|
(839)
|
(430)
|
(920)
|
| Income before gain on disposition of assets |
7,933
|
34,844
|
4,545
|
47,798
|
| Gain on disposition of assets |
15,273
|
11,115
|
31,490
|
21,261
|
| Net income attributable to common stockholders |
$ 23,206
|
$ 45,959
|
$ 36,035
|
$ 69,059
|
| Net income per share attributable to common stockholders—basic (in USD per share) |
$ 0.05
|
$ 0.10
|
$ 0.07
|
$ 0.15
|
| Net income per share attributable to common stockholders—diluted (in USD per share) |
$ 0.05
|
$ 0.10
|
$ 0.07
|
$ 0.15
|
| Weighted average shares of common stock outstanding: |
|
|
|
|
| Basic (in shares) |
479,102,268
|
473,161,125
|
480,845,051
|
457,263,526
|
| Diluted (in shares) |
479,102,268
|
473,164,386
|
480,845,622
|
457,267,015
|
| Weighted average partnership units outstanding: |
|
|
|
|
| Dividends declared per common share issued (in USD per share) |
$ 0.18000
|
$ 0.17500
|
$ 0.36000
|
$ 0.35000
|
| Spirit Realty, L.P. |
|
|
|
|
| Revenues: |
|
|
|
|
| Rentals |
$ 160,487
|
$ 160,506
|
$ 319,707
|
$ 322,325
|
| Interest income on loans receivable |
874
|
1,625
|
1,766
|
3,284
|
| Earned income from direct financing leases |
518
|
698
|
1,130
|
1,422
|
| Tenant reimbursement income |
4,480
|
3,200
|
8,445
|
7,024
|
| Other income |
2,276
|
5,697
|
3,009
|
6,028
|
| Total revenues |
168,635
|
171,726
|
334,057
|
340,083
|
| Expenses: |
|
|
|
|
| General and administrative |
22,862
|
13,850
|
36,280
|
25,499
|
| Restructuring charges |
0
|
1,813
|
0
|
2,462
|
| Transaction costs |
485
|
0
|
485
|
0
|
| Property costs |
9,632
|
6,611
|
18,683
|
13,938
|
| Real estate acquisition costs |
424
|
979
|
577
|
1,036
|
| Interest |
46,826
|
49,172
|
93,449
|
102,189
|
| Depreciation and amortization |
64,220
|
64,263
|
129,214
|
128,927
|
| Impairments |
15,996
|
13,371
|
50,372
|
25,989
|
| Total expenses |
160,445
|
150,059
|
329,060
|
300,040
|
| Income before other income/(expense) and income tax expense |
8,190
|
21,667
|
4,997
|
40,043
|
| Other income (expense): |
|
|
|
|
| Gain (loss) on debt extinguishment |
8
|
14,016
|
(22)
|
8,675
|
| Total other income (expense) |
8
|
14,016
|
(22)
|
8,675
|
| Income before income tax expense |
8,198
|
35,683
|
4,975
|
48,718
|
| Income tax expense |
(265)
|
(839)
|
(430)
|
(920)
|
| Income before gain on disposition of assets |
7,933
|
34,844
|
4,545
|
47,798
|
| Gain on disposition of assets |
15,273
|
11,115
|
31,490
|
21,261
|
| Net income attributable to common stockholders |
23,206
|
45,959
|
36,035
|
69,059
|
| Net income attributable to the general partner |
188
|
389
|
297
|
585
|
| Net income attributable to the limited partners |
$ 23,018
|
$ 45,570
|
$ 35,738
|
$ 68,474
|
| Net income per partnership unit - basic (in USD per share) |
$ 0.05
|
$ 0.10
|
$ 0.07
|
$ 0.15
|
| Net income per partnership unit - diluted (in USD per share) |
$ 0.05
|
$ 0.10
|
$ 0.07
|
$ 0.15
|
| Weighted average partnership units outstanding: |
|
|
|
|
| Basic (in shares) |
479,102,268
|
473,161,125
|
480,845,051
|
457,263,526
|
| Diluted (in shares) |
479,102,268
|
473,164,386
|
480,845,622
|
457,267,015
|
| Dividends declared per common share issued (in USD per share) |
$ 0.1800
|
$ 0.1750
|
$ 0.3600
|
$ 0.3500
|