Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Rental income $ 117,190 $ 106,506 $ 238,553 $ 210,573
Interest income on loans receivable 390 920 809 1,906
Earned income from direct financing leases 131 308 308 704
Related party fee income 250 7,249 500 14,176
Other income 563 762 1,074 979
Total revenues 118,524 115,745 241,244 228,338
Expenses:        
General and administrative 11,975 13,833 25,465 27,014
Property costs (including reimbursable) 7,234 4,407 13,170 9,561
Deal pursuit costs 14 173 1,033 244
Interest 26,095 25,176 51,454 51,787
Depreciation and amortization 53,160 41,342 105,396 82,691
Impairments 21,049 3,607 61,823 7,299
Total expenses 119,527 88,538 258,341 178,596
Other income:        
Loss on debt extinguishment   (14,676)   (5,893)
Gain on disposition of assets 658 29,776 1,046 38,506
Preferred dividend income from SMTA   3,750   7,500
Total other income 658 18,850 1,046 40,113
(Loss) income before income tax expense (345) 46,057 (16,051) 89,855
Income tax expense (68) (320) (209) (540)
Net (loss) income (413) 45,737 (16,260) 89,315
Dividends paid to preferred shareholders (2,588) (2,588) (5,176) (5,176)
Net (loss) income attributable to common stockholders/after preferred distributions $ (3,001) $ 43,149 $ (21,436) $ 84,139
Net (loss) income per share attributable to common stockholders:        
Basic (in USD per share) $ (0.03) $ 0.49 $ (0.21) $ 0.97
Diluted (in USD per share) $ (0.03) $ 0.49 $ (0.21) $ 0.96
Weighted average shares of common stock outstanding:        
Basic (in shares) 102,678,967 87,001,987 102,454,557 86,253,698
Diluted (in shares) 102,678,967 87,890,699 102,454,557 86,779,297
Weighted average partnership units outstanding:        
Dividends declared per common share/per partnership unit issued (in USD per share) $ 0.6250 $ 0.6250 $ 1.2500 $ 1.2500
Spirit Realty, L.P.        
Revenues:        
Rental income $ 117,190 $ 106,506 $ 238,553 $ 210,573
Interest income on loans receivable 390 920 809 1,906
Earned income from direct financing leases 131 308 308 704
Related party fee income 250 7,249 500 14,176
Other income 563 762 1,074 979
Total revenues 118,524 115,745 241,244 228,338
Expenses:        
General and administrative 11,975 13,833 25,465 27,014
Property costs (including reimbursable) 7,234 4,407 13,170 9,561
Deal pursuit costs 14 173 1,033 244
Interest 26,095 25,176 51,454 51,787
Depreciation and amortization 53,160 41,342 105,396 82,691
Impairments 21,049 3,607 61,823 7,299
Total expenses 119,527 88,538 258,341 178,596
Other income:        
Loss on debt extinguishment   (14,676)   (5,893)
Gain on disposition of assets 658 29,776 1,046 38,506
Preferred dividend income from SMTA   3,750   7,500
Total other income 658 18,850 1,046 40,113
(Loss) income before income tax expense (345) 46,057 (16,051) 89,855
Income tax expense (68) (320) (209) (540)
Net (loss) income (413) 45,737 (16,260) 89,315
Dividends paid to preferred shareholders (2,588) (2,588) (5,176) (5,176)
Net (loss) income attributable to common stockholders/after preferred distributions (3,001) 43,149 (21,436) 84,139
Net (loss) income attributable to the general partner (23) 394 (166) 774
Net (loss) income attributable to the limited partners $ (390) $ 45,343 $ (16,094) $ 88,541
Net (loss) income per partnership unit:        
Basic $ (0.03) $ 0.49 $ (0.21) $ 0.97
Diluted $ (0.03) $ 0.49 $ (0.21) $ 0.96
Weighted average partnership units outstanding:        
Basic 102,678,967 87,001,987 102,454,557 86,253,698
Diluted 102,678,967 87,890,699 102,454,557 86,779,297
Dividends declared per common share/per partnership unit issued (in USD per share) $ 0.6250 $ 0.6250 $ 1.2500 $ 1.2500