Consolidated Statements of Operations - USD ($) $ in Thousands |
12 Months Ended |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
| Revenues: |
|
|
|
| Rentals |
$ 409,349
|
$ 408,116
|
$ 381,238
|
| Interest income on loans receivable |
3,346
|
3,399
|
3,647
|
| Earned income from direct financing leases |
2,078
|
2,742
|
3,024
|
| Tenant reimbursement income |
14,911
|
11,887
|
13,931
|
| Other income |
1,574
|
9,196
|
866
|
| Total revenues |
431,258
|
435,340
|
402,706
|
| Expenses: |
|
|
|
| General and administrative |
57,512
|
50,607
|
45,663
|
| Restructuring charges |
0
|
6,341
|
7,056
|
| Property costs (including reimbursable) |
25,973
|
24,089
|
21,379
|
| Real estate acquisition costs |
1,434
|
2,904
|
2,352
|
| Interest |
113,394
|
118,690
|
139,183
|
| Depreciation and amortization |
173,686
|
173,036
|
166,478
|
| Impairments |
61,597
|
61,395
|
50,381
|
| Total expenses |
433,596
|
437,062
|
432,492
|
| Loss from continuing operations before other income (expense) and income tax expense |
(2,338)
|
(1,722)
|
(29,786)
|
| Other income (expense): |
|
|
|
| Gain (loss) on debt extinguishment |
579
|
1,605
|
(2,375)
|
| Gain (loss) on disposition of assets |
42,698
|
29,623
|
(61)
|
| Total other income (expense) |
43,277
|
31,228
|
(2,436)
|
| Income (loss) from continuing operations before income tax expense |
40,939
|
29,506
|
(32,222)
|
| Income tax expense |
(511)
|
(868)
|
(479)
|
| Income (loss) from continuing operations |
40,428
|
28,638
|
(32,701)
|
| Income used in basic and diluted income per share from discontinued operations |
36,720
|
68,808
|
125,913
|
| Net Income |
77,148
|
97,446
|
93,212
|
| Less: dividends paid to preferred stockholders |
(2,530)
|
0
|
0
|
| Net income attributable to common stockholders/ after preferred distributions |
$ 74,618
|
$ 97,446
|
$ 93,212
|
| Net income per share attributable to common stockholders - basic: |
|
|
|
| Continuing operations (in dollars per share) |
$ 0.08
|
$ 0.06
|
$ (0.08)
|
| Discontinued operations (in dollars per share) |
0.08
|
0.15
|
0.29
|
| Net income per share attributable to common stockholders—basic (in dollars per share) |
0.16
|
0.21
|
0.21
|
| Net income per share attributable to common stockholders - diluted: |
|
|
|
| Continuing operations (in dollars per share) |
0.08
|
0.06
|
(0.08)
|
| Discontinued operations (in dollars per share) |
0.08
|
0.15
|
0.29
|
| Net income per share attributable to common stockholders—diluted (in dollars per share) |
$ 0.16
|
$ 0.21
|
$ 0.21
|
| Weighted average shares of common stock outstanding: |
|
|
|
| Basic (in shares) |
467,934,945
|
469,217,776
|
432,222,953
|
| Diluted (in shares) |
467,942,788
|
469,246,265
|
432,222,953
|
| Spirit Realty, L.P. |
|
|
|
| Revenues: |
|
|
|
| Rentals |
$ 409,349
|
$ 408,116
|
$ 381,238
|
| Interest income on loans receivable |
3,346
|
3,399
|
3,647
|
| Earned income from direct financing leases |
2,078
|
2,742
|
3,024
|
| Tenant reimbursement income |
14,911
|
11,887
|
13,931
|
| Other income |
1,574
|
9,196
|
866
|
| Total revenues |
431,258
|
435,340
|
402,706
|
| Expenses: |
|
|
|
| General and administrative |
57,512
|
50,607
|
45,663
|
| Restructuring charges |
0
|
6,341
|
7,056
|
| Property costs (including reimbursable) |
25,973
|
24,089
|
21,379
|
| Real estate acquisition costs |
1,434
|
2,904
|
2,352
|
| Interest |
113,394
|
118,690
|
139,183
|
| Depreciation and amortization |
173,686
|
173,036
|
166,478
|
| Impairments |
61,597
|
61,395
|
50,381
|
| Total expenses |
433,596
|
437,062
|
432,492
|
| Loss from continuing operations before other income (expense) and income tax expense |
(2,338)
|
(1,722)
|
(29,786)
|
| Other income (expense): |
|
|
|
| Gain (loss) on debt extinguishment |
579
|
1,605
|
(2,375)
|
| Gain (loss) on disposition of assets |
42,698
|
29,623
|
(61)
|
| Total other income (expense) |
43,277
|
31,228
|
(2,436)
|
| Income (loss) from continuing operations before income tax expense |
40,939
|
29,506
|
(32,222)
|
| Income tax expense |
(511)
|
(868)
|
(479)
|
| Income (loss) from continuing operations |
40,428
|
28,638
|
(32,701)
|
| Income used in basic and diluted income per share from discontinued operations |
36,720
|
68,808
|
125,913
|
| Net Income |
77,148
|
97,446
|
93,212
|
| Less: dividends paid to preferred stockholders |
(2,530)
|
0
|
0
|
| Net income attributable to common stockholders/ after preferred distributions |
74,618
|
97,446
|
93,212
|
| Net income attributable to general partners - Continuing operations |
353
|
243
|
(300)
|
| Net income attributable to general partners - Discontinued operations |
304
|
582
|
1,155
|
| Net income attributable to general partners |
657
|
825
|
855
|
| Net income attributable to limited partners - Continuing operations |
40,075
|
28,395
|
(32,401)
|
| Net income attributable to limited partners - Discontinued operations |
36,416
|
68,226
|
124,758
|
| Net income attributable to limited partners |
$ 76,491
|
$ 96,621
|
$ 92,357
|
| Net income per share attributable to common stockholders - basic: |
|
|
|
| Continuing operations net income per common partnership unit - basic (in dollars per share) |
$ 0.08
|
$ 0.06
|
$ (0.08)
|
| Discontinued operations net income per common partnership unit - basic (in dollars per share) |
0.08
|
0.15
|
0.29
|
| Net income per common partnership unit - basic (in dollars per share) |
0.16
|
0.21
|
0.21
|
| Net income per share attributable to common stockholders - diluted: |
|
|
|
| Continuing operations net income per common partnership unit - diluted (in dollars per share) |
0.08
|
0.06
|
(0.08)
|
| Discontinued operations net income per common partnership unit - diluted (in dollars per share) |
0.08
|
0.15
|
0.29
|
| Net income per common partnership unit —diluted (in dollars per share) |
$ 0.16
|
$ 0.21
|
$ 0.21
|
| Weighted average common partnership units outstanding: |
|
|
|
| Basic (in shares) |
467,934,945
|
469,217,776
|
432,222,953
|
| Diluted (in shares) |
467,942,788
|
469,246,265
|
432,222,953
|