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
|