Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenue      
Real estate rental revenue $ 309,180 $ 291,730 $ 280,281
Expenses      
Real estate expenses 115,580 105,592 105,400
Depreciation and amortization 136,253 111,826 101,430
Real estate impairment 8,374 1,886 33,152
General and administrative expenses 24,370 22,089 22,580
Lease origination expenses 1,698 0 0
Total expenses 286,275 241,393 262,562
Other operating income      
Gain on sale of real estate 59,961 2,495 24,915
Real estate operating income 82,866 52,832 42,634
Other income (expense)      
Interest expense (53,734) (50,501) (46,793)
Other income 0 0 507
Loss on extinguishment of debt 0 (1,178) 0
Income tax benefit 0 0 84
Total other income (expense) (53,734) (51,679) (46,202)
Income (loss) from continuing operations 29,132 1,153 (3,568)
Discontinued operations:      
Income from operations of properties sold or held for sale 16,158 24,477 23,180
Gain on sale of real estate 339,024 0 0
Loss on extinguishment of debt (764) 0 0
Income from discontinued operations 354,418 24,477 23,180
Net income 383,550 25,630 19,612
Less: Net loss attributable to noncontrolling interests in subsidiaries 0 0 56
Net income attributable to the controlling interests $ 383,550 $ 25,630 $ 19,668
Basic net income (loss) attributable to the controlling interests per share      
Continuing operations, basic (in dollars per share) $ 0.36 $ 0.01 $ (0.05)
Discontinued operations, including gain on sale of real estate, basic (in dollars per share) 4.39 0.31 0.30
Net income attributable to the controlling interests per share (in dollars per share) 4.75 0.32 0.25
Diluted net income (loss) attributable to the controlling interests per share      
Continuing operations, diluted (in dollars per share) 0.36 0.01 (0.05)
Discontinued operations, including gain on sale of real estate, diluted (in dollars per share) 4.39 0.31 0.30
Net income attributable to the controlling interests per share (in dollars per share) $ 4.75 $ 0.32 $ 0.25
Weighted average shares outstanding – basic (in shares) 80,257 78,960 76,820
Weighted average shares outstanding – diluted (in shares) 80,335 79,042 76,820