$ADC
AGREE REALTY CORP Stock $adc

$adc Overview Financials Valuation SEC Filings Company Website

2014 Form 10-K Financial Statement

#000114420415014605 Filed on March 06, 2015

Income Statement

Concept	2014	2013 Q4	2013 Q3
Revenue	$53.56M	$11.72M	$11.27M
YoY Change	23.07%	26.43%	26.62%
Cost Of Revenue	$4.400M	$560.0K	$920.0K
YoY Change	37.5%	-3.45%	41.54%
Gross Profit	$49.10M	$10.22M	$10.35M
YoY Change	21.84%	30.52%	21.19%
Gross Profit Margin	91.67%	87.23%	91.82%
Selling, General & Admin	$7.100M	$1.390M	$1.690M
YoY Change	10.94%	-14.72%	19.01%
% of Gross Profit	14.46%	13.6%	16.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$8.486M	$2.600M	$2.300M
YoY Change	21.29%	36.84%	21.05%
% of Gross Profit	17.28%	25.44%	22.22%
Operating Expenses	$18.30M	$3.460M	$3.810M
YoY Change	22.82%	11.97%	24.51%
Operating Profit	$27.89M	$6.760M	$6.544M
YoY Change	9.72%	42.62%	19.4%
Interest Expense	$8.587M	-$1.880M	$1.634M
YoY Change	32.62%	24.5%	21.56%
% of Operating Profit	30.79%	-27.81%	24.97%
Other Income/Expense, Net
YoY Change
Pretax Income	$18.80M	$5.330M	$4.910M
YoY Change	-0.53%	64.51%	18.6%
Income Tax		$0.00	$0.00
% Of Pretax Income		0.0%	0.0%
Net Earnings	$18.49M	$5.622M	$4.528M
YoY Change	-6.03%	18.43%	15.91%
Net Earnings / Revenue	34.52%	47.99%	40.17%
Basic Earnings Per Share	$1.24		$0.35
Diluted Earnings Per Share	$1.24	$0.40	$0.35
COMMON SHARES
Basic Shares Outstanding	14.88M shares		12.98M shares
Diluted Shares Outstanding	14.97M shares		13.06M shares

Balance Sheet

Concept	2014	2013 Q4	2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$5.400M	$14.50M	$5.800M
YoY Change	-62.76%	1015.38%	1060.0%
Cash & Equivalents	$5.400M	$14.54M	$5.824M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory	$0.00	$4.800M	$0.00
Prepaid Expenses
Receivables	$4.500M	$3.300M	$2.400M
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$9.900M	$22.60M	$8.200M
YoY Change	-56.19%	545.71%	331.58%
LONG-TERM ASSETS
Property, Plant & Equipment	$530.1M	$398.9M	$402.0M
YoY Change	30.6%	26.07%	33.55%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$3.800M	$3.300M	$31.20M
YoY Change	15.15%	-86.75%	14.29%
Total Long-Term Assets	$583.7M	$440.1M	$435.4M
YoY Change	32.63%	20.06%	31.62%
TOTAL ASSETS
Total Short-Term Assets	$9.900M	$22.60M	$8.200M
Total Long-Term Assets	$583.7M	$440.1M	$435.4M
Total Assets	$593.6M	$462.7M	$443.6M
YoY Change	28.29%	25.03%	33.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$200.0K	$100.0K	$300.0K
YoY Change	100.0%	0.0%
Accrued Expenses	$700.0K	$500.0K	$400.0K
YoY Change	40.0%	66.67%	-20.0%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$11.50M	$9.700M	$6.300M
YoY Change	66.67%	36.62%	-5.97%
LONG-TERM LIABILITIES
Long-Term Debt	$221.8M	$158.4M	$189.8M
YoY Change	40.03%	-1.55%	52.57%
Other Long-Term Liabilities	$3.400M	$1.700M	$2.300M
YoY Change	100.0%	-48.48%	-32.35%
Total Long-Term Liabilities	$225.2M	$160.1M	$192.1M
YoY Change	40.66%	-2.5%	50.31%
TOTAL LIABILITIES
Total Short-Term Liabilities	$11.50M	$9.700M	$6.300M
Total Long-Term Liabilities	$225.2M	$160.1M	$192.1M
Total Liabilities	$240.0M	$170.5M	$200.6M
YoY Change	38.57%	-0.93%	45.57%
SHAREHOLDERS EQUITY
Retained Earnings		-$23.88M	-$23.26M
YoY Change		12.82%
Common Stock		$1.488K	$1.324K
YoY Change		30.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$353.6M	$289.6M	$240.4M
YoY Change
Total Liabilities & Shareholders Equity	$593.6M	$462.7M	$443.6M
YoY Change	28.29%	25.03%	33.34%

Cashflow Statement

Concept	2014	2013 Q4	2013 Q3
OPERATING ACTIVITIES
Net Income	$18.49M	$5.622M	$4.528M
YoY Change	-6.03%	18.43%	15.91%
Depreciation, Depletion And Amortization	$8.486M	$2.600M	$2.300M
YoY Change	21.29%	36.84%	21.05%
Cash From Operating Activities	$35.10M	$8.400M	$7.000M
YoY Change	18.61%	21.74%	27.27%
INVESTING ACTIVITIES
Capital Expenditures	-$159.8M	-$11.00M	-$30.00M
YoY Change	76.57%	-72.29%	56.25%
Acquisitions
YoY Change
Other Investing Activities	$12.10M	-$200.0K	$0.00
YoY Change	128.3%	-106.06%	-100.0%
Cash From Investing Activities	-$147.7M	-$11.20M	-$30.10M
YoY Change	73.23%	-69.32%	186.67%
FINANCING ACTIVITIES
Cash Dividend Paid	$25.40M
YoY Change	21.78%
Common Stock Issuance & Retirement, Net	-$73.30M
YoY Change	-178.49%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	$103.5M	11.50M	27.60M
YoY Change	50.09%	-62.05%	475.0%
NET CHANGE
Cash From Operating Activities	$35.10M	8.400M	7.000M
Cash From Investing Activities	-$147.7M	-11.20M	-30.10M
Cash From Financing Activities	$103.5M	11.50M	27.60M
Net Change In Cash	-$9.137M	8.700M	4.500M
YoY Change	-168.87%	1142.86%	-2350.0%
FREE CASH FLOW
Cash From Operating Activities	$35.10M	$8.400M	$7.000M
Capital Expenditures	-$159.8M	-$11.00M	-$30.00M
Free Cash Flow	$194.9M	$19.40M	$37.00M
YoY Change	62.29%	-58.37%	49.8%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2013Q4	us-gaap	Land Land	162096646	USD
CY2014Q4	us-gaap	Land Land	195091303	USD
CY2013Q4	us-gaap	Investment Building And Building Improvements InvestmentBuildingAndBuildingImprovements	297464585	USD
CY2014Q4	us-gaap	Investment Building And Building Improvements InvestmentBuildingAndBuildingImprovements	393826467	USD
CY2013Q4	us-gaap	Real Estate Investment Property Accumulated Depreciation RealEstateInvestmentPropertyAccumulatedDepreciation	60633824	USD
CY2014Q4	us-gaap	Real Estate Investment Property Accumulated Depreciation RealEstateInvestmentPropertyAccumulatedDepreciation	59089851	USD
CY2013Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	398927407	USD
CY2014Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	529827919	USD
CY2013Q4	us-gaap	Development In Process DevelopmentInProcess	6959174	USD
CY2014Q4	us-gaap	Development In Process DevelopmentInProcess	229242	USD
CY2013Q4	us-gaap	Real Estate Heldforsale RealEstateHeldforsale	4845504	USD
CY2014Q4	us-gaap	Real Estate Heldforsale RealEstateHeldforsale	0	USD
CY2013Q4	us-gaap	Real Estate Investment Property Net RealEstateInvestmentPropertyNet	410732085	USD
CY2014Q4	us-gaap	Real Estate Investment Property Net RealEstateInvestmentPropertyNet	530057161	USD
CY2013Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	14536881	USD
CY2014Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	5399458	USD
CY2013Q4	us-gaap	Accounts Receivable Net AccountsReceivableNet	3262768	USD
CY2014Q4	us-gaap	Accounts Receivable Net AccountsReceivableNet	4507735	USD
CY2013Q4	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	2526768	USD
CY2013Q4	us-gaap	Deferred Costs Leasing Net DeferredCostsLeasingNet	758037	USD
CY2013Q4	us-gaap	Finite Lived Intangible Asset Acquired In Place Leases FiniteLivedIntangibleAssetAcquiredInPlaceLeases	27705499	USD
CY2013Q4	us-gaap	Other Assets OtherAssets	3219505	USD
CY2014Q4	us-gaap	Other Assets OtherAssets	2345290	USD
CY2013Q4	us-gaap	Assets Assets	462741543	USD
CY2013Q4	us-gaap	Secured Debt SecuredDebt	113897759	USD
CY2014Q4	us-gaap	Secured Debt SecuredDebt	106762238	USD
CY2013Q4	us-gaap	Line Of Credit LineOfCredit	9500000	USD
CY2014Q4	us-gaap	Line Of Credit LineOfCredit	15000000	USD
CY2014Q4	us-gaap	Assets Assets	593580861	USD
CY2014Q4	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	3008280	USD
CY2014Q4	us-gaap	Deferred Costs Leasing Net DeferredCostsLeasingNet	783335	USD
CY2014Q4	us-gaap	Finite Lived Intangible Asset Acquired In Place Leases FiniteLivedIntangibleAssetAcquiredInPlaceLeases	47479602	USD
CY2013Q4	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	6243933	USD
CY2014Q4	us-gaap	Dividends Payable Current And Noncurrent DividendsPayableCurrentAndNoncurrent	8048404	USD
CY2013Q4	us-gaap	Deferred Revenue DeferredRevenue	1467403	USD
CY2014Q4	us-gaap	Deferred Revenue DeferredRevenue	1004023	USD
CY2013Q4	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	470862	USD
CY2014Q4	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	721459	USD
CY2013Q4	us-gaap	Construction Payable Current And Noncurrent ConstructionPayableCurrentAndNoncurrent	144074	USD
CY2014Q4	us-gaap	Construction Payable Current And Noncurrent ConstructionPayableCurrentAndNoncurrent	200300	USD
CY2013Q4	us-gaap	Accounts Payable Current And Noncurrent AccountsPayableCurrentAndNoncurrent	2851612	USD
CY2014Q4	us-gaap	Accounts Payable Current And Noncurrent AccountsPayableCurrentAndNoncurrent	2684599	USD
CY2013Q4	us-gaap	Interest Rate Derivative Liabilities At Fair Value InterestRateDerivativeLiabilitiesAtFairValue	204696	USD
CY2014Q4	us-gaap	Interest Rate Derivative Liabilities At Fair Value InterestRateDerivativeLiabilitiesAtFairValue	2383308	USD
CY2013Q4	us-gaap	Deferred Income Tax Liabilities DeferredIncomeTaxLiabilities	705000	USD
CY2014Q4	us-gaap	Deferred Income Tax Liabilities DeferredIncomeTaxLiabilities	705000	USD
CY2013Q4	us-gaap	Security Deposit Liability SecurityDepositLiability	40647	USD
CY2014Q4	us-gaap	Security Deposit Liability SecurityDepositLiability	36156	USD
CY2013Q4	us-gaap	Liabilities Liabilities	170525986	USD
CY2014Q4	us-gaap	Liabilities Liabilities	237545487	USD
CY2013Q4	us-gaap	Common Stock Value CommonStockValue	1488	USD
CY2014Q4	us-gaap	Common Stock Value CommonStockValue	1754	USD
CY2013Q4	adc	Excess Stock ExcessStock	0	USD
CY2014Q4	adc	Excess Stock ExcessStock	0	USD
CY2013Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2013Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	312974162	USD
CY2013Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-23879151	USD
CY2013Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	471717	USD
CY2013Q4	us-gaap	Stockholders Equity StockholdersEquity	289568216	USD
CY2013Q4	us-gaap	Minority Interest MinorityInterest	2647341	USD
CY2013Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	292215557	USD
CY2013Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	462741543	USD
CY2013Q4	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	35000	USD
CY2014Q4	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	35000	USD
CY2013Q4	us-gaap	Accumulated Amortization Deferred Finance Costs AccumulatedAmortizationDeferredFinanceCosts	7009538	USD
CY2014Q4	us-gaap	Accumulated Amortization Deferred Finance Costs AccumulatedAmortizationDeferredFinanceCosts	2690005	USD
CY2013Q4	us-gaap	Deferred Costs Leasing Accumulated Amortization DeferredCostsLeasingAccumulatedAmortization	1425186	USD
CY2014Q4	us-gaap	Deferred Costs Leasing Accumulated Amortization DeferredCostsLeasingAccumulatedAmortization	543957	USD
CY2013Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	3228506	USD
CY2014Q4	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	5719085	USD
CY2013Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2014Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.0001
CY2013Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	28000000	shares
CY2014Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	28000000	shares
CY2013Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	14883314	shares
CY2014Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	17539946	shares
CY2013Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	14883314	shares
CY2014Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	17539946	shares
CY2013Q4	adc	Excess Stock Par Or Stated Value Per Share ExcessStockParOrStatedValuePerShare	0.0001
CY2014Q4	adc	Excess Stock Par Or Stated Value Per Share ExcessStockParOrStatedValuePerShare	0.0001
CY2013Q4	us-gaap	Excess Stock Shares Authorized ExcessStockSharesAuthorized	4000000	shares
CY2014Q4	us-gaap	Excess Stock Shares Authorized ExcessStockSharesAuthorized	8000000	shares
CY2013Q4	us-gaap	Excess Stock Shares Issued ExcessStockSharesIssued	0	shares
CY2014Q4	us-gaap	Excess Stock Shares Issued ExcessStockSharesIssued	0	shares
CY2013Q4	us-gaap	Excess Stock Shares Outstanding ExcessStockSharesOutstanding	0	shares
CY2014Q4	us-gaap	Excess Stock Shares Outstanding ExcessStockSharesOutstanding	0	shares
CY2013Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2014Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.0001
CY2013Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	150000	shares
CY2014Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	4000000	shares
CY2014Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Next Twelve Months LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths	3839239	USD
CY2014Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	12674337	USD
CY2014Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree	22652591	USD
CY2014Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour	42575206	USD
CY2014Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive	2750347	USD
CY2014Q4	us-gaap	Long Term Debt Maturities Repayments Of Principal After Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive	137270518	USD
CY2014Q4	us-gaap	Long Term Debt LongTermDebt	221762238	USD
CY2014	us-gaap	Operating Leases Income Statement Minimum Lease Revenue OperatingLeasesIncomeStatementMinimumLeaseRevenue	49403352	USD
CY2013	us-gaap	Percentage Rent PercentageRent	36074	USD
CY2014	us-gaap	Percentage Rent PercentageRent	159664	USD
CY2012	us-gaap	Tenant Reimbursements TenantReimbursements	1970927	USD
CY2013	us-gaap	Tenant Reimbursements TenantReimbursements	2567457	USD
CY2014	us-gaap	Tenant Reimbursements TenantReimbursements	3824883	USD
CY2012	us-gaap	Other Income OtherIncome	59989	USD
CY2013	us-gaap	Other Income OtherIncome	19002	USD
CY2014	us-gaap	Other Income OtherIncome	170958	USD
CY2012	us-gaap	Revenues Revenues	34624362	USD
CY2013	us-gaap	Revenues Revenues	43517664	USD
CY2014	us-gaap	Revenues Revenues	53558857	USD
CY2012	us-gaap	Real Estate Tax Expense RealEstateTaxExpense	1785917	USD
CY2013	us-gaap	Real Estate Tax Expense RealEstateTaxExpense	2035937	USD
CY2014	us-gaap	Real Estate Tax Expense RealEstateTaxExpense	2765905	USD
CY2012	us-gaap	Direct Costs Of Leased And Rented Property Or Equipment DirectCostsOfLeasedAndRentedPropertyOrEquipment	967747	USD
CY2013	us-gaap	Direct Costs Of Leased And Rented Property Or Equipment DirectCostsOfLeasedAndRentedPropertyOrEquipment	1192538	USD
CY2014	us-gaap	Direct Costs Of Leased And Rented Property Or Equipment DirectCostsOfLeasedAndRentedPropertyOrEquipment	1678965	USD
CY2012	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	574300	USD
CY2013	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	427900	USD
CY2014	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	471840	USD
CY2012	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	5681828	USD
CY2013	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	5952433	USD
CY2014	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	6629033	USD
CY2012	us-gaap	Depreciation And Amortization DepreciationAndAmortization	6240727	USD
CY2013	us-gaap	Depreciation And Amortization DepreciationAndAmortization	8489207	USD
CY2014	us-gaap	Depreciation And Amortization DepreciationAndAmortization	11102702	USD
CY2012	us-gaap	Asset Impairment Charges AssetImpairmentCharges	0	USD
CY2013	us-gaap	Asset Impairment Charges AssetImpairmentCharges	0	USD
CY2014	us-gaap	Asset Impairment Charges AssetImpairmentCharges	3020000	USD
CY2012	us-gaap	Costs And Expenses CostsAndExpenses	15250519	USD
CY2013	us-gaap	Costs And Expenses CostsAndExpenses	18098015	USD
CY2014	us-gaap	Costs And Expenses CostsAndExpenses	25668445	USD
CY2012	us-gaap	Operating Income Loss OperatingIncomeLoss	19373843	USD
CY2013	us-gaap	Operating Income Loss OperatingIncomeLoss	25419649	USD
CY2014	us-gaap	Operating Income Loss OperatingIncomeLoss	27890412	USD
CY2012	us-gaap	Interest Expense InterestExpense	5134283	USD
CY2013	us-gaap	Interest Expense InterestExpense	6474727	USD
CY2014	us-gaap	Interest Expense InterestExpense	8586980	USD
CY2012	us-gaap	Gains Losses On Sales Of Assets GainsLossesOnSalesOfAssets	0	USD
CY2013	us-gaap	Gains Losses On Sales Of Assets GainsLossesOnSalesOfAssets	0	USD
CY2014	us-gaap	Gains Losses On Sales Of Assets GainsLossesOnSalesOfAssets	-527743	USD
CY2012	us-gaap	Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest	14239560	USD
CY2013	us-gaap	Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest	18944922	USD
CY2014	us-gaap	Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest	18775689	USD
CY2012	us-gaap	Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax	2097105	USD
CY2013	us-gaap	Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax	946347	USD
CY2014	us-gaap	Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax	122747	USD
CY2012	us-gaap	Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax	2266929	USD
CY2013	us-gaap	Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax	298342	USD
CY2014	us-gaap	Discontinued Operation Income Loss From Discontinued Operation During Phase Out Period Net Of Tax DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax	14573	USD
CY2012	us-gaap	Profit Loss ProfitLoss	18603594	USD
CY2013	us-gaap	Profit Loss ProfitLoss	20189611	USD
CY2014	us-gaap	Profit Loss ProfitLoss	18913009	USD
CY2012	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	554150	USD
CY2013	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	515036	USD
CY2014	us-gaap	Net Income Loss Attributable To Noncontrolling Interest NetIncomeLossAttributableToNoncontrollingInterest	425017	USD
CY2012	us-gaap	Net Income Loss NetIncomeLoss	18049444	USD
CY2013	us-gaap	Net Income Loss NetIncomeLoss	19674575	USD
CY2014	us-gaap	Net Income Loss NetIncomeLoss	18487992	USD
CY2012	us-gaap	Income Loss From Continuing Operations Per Basic Share IncomeLossFromContinuingOperationsPerBasicShare	1.25
CY2013	us-gaap	Income Loss From Continuing Operations Per Basic Share IncomeLossFromContinuingOperationsPerBasicShare	1.41
CY2014	us-gaap	Income Loss From Continuing Operations Per Basic Share IncomeLossFromContinuingOperationsPerBasicShare	1.23
CY2012	us-gaap	Income Loss From Discontinued Operations Net Of Tax Per Basic Share IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare	0.38
CY2013	us-gaap	Income Loss From Discontinued Operations Net Of Tax Per Basic Share IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare	0.10
CY2014	us-gaap	Income Loss From Discontinued Operations Net Of Tax Per Basic Share IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare	0.01
CY2012	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.63
CY2013	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.51
CY2014	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.24
CY2012	us-gaap	Income Loss From Continuing Operations Per Diluted Share IncomeLossFromContinuingOperationsPerDilutedShare	1.24
CY2013	us-gaap	Income Loss From Continuing Operations Per Diluted Share IncomeLossFromContinuingOperationsPerDilutedShare	1.40
CY2014	us-gaap	Income Loss From Continuing Operations Per Diluted Share IncomeLossFromContinuingOperationsPerDilutedShare	1.23
CY2012	us-gaap	Income Loss From Discontinued Operations Net Of Tax Per Diluted Share IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare	0.38
CY2013	us-gaap	Income Loss From Discontinued Operations Net Of Tax Per Diluted Share IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare	0.10
CY2014	us-gaap	Income Loss From Discontinued Operations Net Of Tax Per Diluted Share IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare	0.01
CY2012	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.62
CY2013	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.50
CY2014	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.24
CY2012	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-708538	USD
CY2013	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	1812535	USD
CY2014	us-gaap	Other Comprehensive Income Loss Net Of Tax OtherComprehensiveIncomeLossNetOfTax	-2583832	USD
CY2012	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	17895056	USD
CY2013	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	22002146	USD
CY2014	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	16329177	USD
CY2012	us-gaap	Other Comprehensive Income Loss Before Tax Portion Attributable To Noncontrolling Interest OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest	533311	USD
CY2013	us-gaap	Other Comprehensive Income Loss Before Tax Portion Attributable To Noncontrolling Interest OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest	561587	USD
CY2014	us-gaap	Other Comprehensive Income Loss Before Tax Portion Attributable To Noncontrolling Interest OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToNoncontrollingInterest	373221	USD
CY2012	us-gaap	Other Comprehensive Income Loss Before Tax Portion Attributable To Parent OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent	17361745	USD
CY2013	us-gaap	Other Comprehensive Income Loss Before Tax Portion Attributable To Parent OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent	21440559	USD
CY2014	us-gaap	Other Comprehensive Income Loss Before Tax Portion Attributable To Parent OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent	15955956	USD
CY2012	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	11071318	shares
CY2013	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	13065907	shares
CY2014	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	14882586	shares
CY2012	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	11136910	shares
CY2013	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	13157505	shares
CY2014	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	14966895	shares
CY2011Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	162224281	USD
CY2012	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	35042226	USD
CY2013	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	93393049	USD
CY2014	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	73302109	USD
CY2012	us-gaap	Stock Issued During Period Value Share Based Compensation Gross StockIssuedDuringPeriodValueShareBasedCompensationGross	9	USD
CY2013	us-gaap	Stock Issued During Period Value Share Based Compensation Gross StockIssuedDuringPeriodValueShareBasedCompensationGross	9	USD
CY2014	us-gaap	Stock Issued During Period Value Share Based Compensation Gross StockIssuedDuringPeriodValueShareBasedCompensationGross	8	USD
CY2012	us-gaap	Stock Issued During Period Value Restricted Stock Award Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures	0	USD
CY2013	us-gaap	Stock Issued During Period Value Restricted Stock Award Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures	2	USD
CY2014	us-gaap	Stock Issued During Period Value Restricted Stock Award Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures	1	USD
CY2012	us-gaap	Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition	1657209	USD
CY2013	us-gaap	Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition	1812532	USD
CY2014	us-gaap	Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationRestrictedStockUnitsRequisiteServicePeriodRecognition	1986835	USD
CY2012	us-gaap	Dividends Dividends	18853647	USD
CY2013	us-gaap	Dividends Dividends	22957311	USD
CY2014	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-167263	USD
CY2012	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	-463380	USD
CY2013	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	-463380	USD
CY2014	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	-463380	USD
CY2012	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	-398779	USD
CY2013	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	135446	USD
CY2014	us-gaap	Increase Decrease In Interest Payable Net IncreaseDecreaseInInterestPayableNet	250597	USD
CY2012	us-gaap	Increase Decrease In Security Deposits IncreaseDecreaseInSecurityDeposits	-19814	USD
CY2013	us-gaap	Increase Decrease In Security Deposits IncreaseDecreaseInSecurityDeposits	-23814	USD
CY2014	us-gaap	Increase Decrease In Security Deposits IncreaseDecreaseInSecurityDeposits	-4491	USD
CY2012	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	21205721	USD
CY2014	us-gaap	Dividends Dividends	27798310	USD
CY2012	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax	-708538	USD
CY2013	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax	1812535	USD
CY2014	us-gaap	Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax	-2583833	USD
CY2012Q4	us-gaap	Stockholders Equity Including Portion Attributable To Noncontrolling Interest StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	197965134	USD
CY2012	us-gaap	Depreciation Depreciation	5792281	USD
CY2013	us-gaap	Depreciation Depreciation	6996741	USD
CY2014	us-gaap	Depreciation Depreciation	8486178	USD
CY2012	us-gaap	Adjustment For Amortization AdjustmentForAmortization	1712530	USD
CY2013	us-gaap	Adjustment For Amortization AdjustmentForAmortization	2483217	USD
CY2014	us-gaap	Adjustment For Amortization AdjustmentForAmortization	3567409	USD
CY2012	us-gaap	Share Based Compensation ShareBasedCompensation	1657209	USD
CY2013	us-gaap	Share Based Compensation ShareBasedCompensation	1812532	USD
CY2014	us-gaap	Share Based Compensation ShareBasedCompensation	1986835	USD
CY2012	us-gaap	Impairment Of Real Estate ImpairmentOfRealEstate	0	USD
CY2013	us-gaap	Impairment Of Real Estate ImpairmentOfRealEstate	450000	USD
CY2014	us-gaap	Impairment Of Real Estate ImpairmentOfRealEstate	3020000	USD
CY2012	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	2097105	USD
CY2013	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	946347	USD
CY2014	us-gaap	Gain Loss On Disposition Of Assets1 GainLossOnDispositionOfAssets1	-404996	USD
CY2012	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	1358374	USD
CY2014	us-gaap	Increase Decrease In Other Operating Assets IncreaseDecreaseInOtherOperatingAssets	-346131	USD
CY2013	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	838515	USD
CY2013	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	29589739	USD
CY2014	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	35095054	USD
CY2012	us-gaap	Payments To Acquire Real Estate PaymentsToAcquireRealEstate	64166390	USD
CY2013	us-gaap	Payments To Acquire Real Estate PaymentsToAcquireRealEstate	75920083	USD
CY2014	us-gaap	Payments To Acquire Real Estate PaymentsToAcquireRealEstate	143272607	USD
CY2012	us-gaap	Payments To Develop Real Estate Assets PaymentsToDevelopRealEstateAssets	20349688	USD
CY2013	us-gaap	Payments To Develop Real Estate Assets PaymentsToDevelopRealEstateAssets	14619386	USD
CY2014	us-gaap	Payments To Develop Real Estate Assets PaymentsToDevelopRealEstateAssets	16526566	USD
CY2012	us-gaap	Payments For Leasing Costs PaymentsForLeasingCosts	55960	USD
CY2013	us-gaap	Payments For Leasing Costs PaymentsForLeasingCosts	183310	USD
CY2014	us-gaap	Payments For Leasing Costs PaymentsForLeasingCosts	354336	USD
CY2012	us-gaap	Proceeds From Sale Of Productive Assets ProceedsFromSaleOfProductiveAssets	15315728	USD
CY2013	us-gaap	Proceeds From Sale Of Productive Assets ProceedsFromSaleOfProductiveAssets	5462280	USD
CY2014	us-gaap	Proceeds From Sale Of Productive Assets ProceedsFromSaleOfProductiveAssets	12455673	USD
CY2012	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-69256310	USD
CY2013	us-gaap	Stock Issued1 StockIssued1	2401688	USD
CY2014	us-gaap	Stock Issued1 StockIssued1	2390245	USD
CY2012	adc	Dividends Declared And Unpaid DividendsDeclaredAndUnpaid	4710446	USD
CY2013	adc	Dividends Declared And Unpaid DividendsDeclaredAndUnpaid	6243933	USD
CY2012Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	1270027	USD
CY2013	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-85260499	USD
CY2014	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-147697836	USD
CY2012	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	35042235	USD
CY2013	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	93393056	USD
CY2014	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	73302116	USD
CY2012	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	101220945	USD
CY2013	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	106189924	USD
CY2014	us-gaap	Proceeds From Lines Of Credit ProceedsFromLinesOfCredit	148622976	USD
CY2012	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	114134838	USD
CY2013	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	140219929	USD
CY2014	us-gaap	Repayments Of Lines Of Credit RepaymentsOfLinesOfCredit	143122976	USD
CY2012	us-gaap	Repayments Of Secured Debt RepaymentsOfSecuredDebt	3164654	USD
CY2013	us-gaap	Repayments Of Secured Debt RepaymentsOfSecuredDebt	3478383	USD
CY2014	us-gaap	Repayments Of Secured Debt RepaymentsOfSecuredDebt	12766704	USD
CY2012	us-gaap	Proceeds From Issuance Of Unsecured Debt ProceedsFromIssuanceOfUnsecuredDebt	0	USD
CY2013	us-gaap	Proceeds From Issuance Of Unsecured Debt ProceedsFromIssuanceOfUnsecuredDebt	35000000	USD
CY2014	us-gaap	Proceeds From Issuance Of Unsecured Debt ProceedsFromIssuanceOfUnsecuredDebt	65000000	USD
CY2012	us-gaap	Payments Of Dividends PaymentsOfDividends	17663808	USD
CY2013	us-gaap	Payments Of Dividends PaymentsOfDividends	20859476	USD
CY2014	us-gaap	Payments Of Dividends PaymentsOfDividends	25402637	USD
CY2012	us-gaap	Payments Of Capital Distribution PaymentsOfCapitalDistribution	556188	USD
CY2013	us-gaap	Payments Of Capital Distribution PaymentsOfCapitalDistribution	566619	USD
CY2014	us-gaap	Payments Of Capital Distribution PaymentsOfCapitalDistribution	590951	USD
CY2012	us-gaap	Repayments Of Other Debt RepaymentsOfOtherDebt	424321	USD
CY2013	us-gaap	Repayments Of Other Debt RepaymentsOfOtherDebt	122080	USD
CY2014	us-gaap	Repayments Of Other Debt RepaymentsOfOtherDebt	144074	USD
CY2012	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	1641418	USD
CY2013	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	398879	USD
CY2014	us-gaap	Payments Of Financing Costs PaymentsOfFinancingCosts	1432391	USD
CY2012	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	47317953	USD
CY2013	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	68937614	USD
CY2014	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	103465359	USD
CY2012	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-732636	USD
CY2013	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	13266854	USD
CY2014	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-9137423	USD
CY2011Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	2002663	USD
CY2012	us-gaap	Interest Paid Net InterestPaidNet	4722042	USD
CY2013	us-gaap	Interest Paid Net InterestPaidNet	6149649	USD
CY2014	us-gaap	Interest Paid Net InterestPaidNet	7824594	USD
CY2012	us-gaap	Stock Issued1 StockIssued1	2175831	USD
CY2014	adc	Dividends Declared And Unpaid DividendsDeclaredAndUnpaid	8048404	USD
CY2012	adc	Real Estate Acquisitions Financed With Debt Assumption RealEstateAcquisitionsFinancedWithDebtAssumption	18220528	USD
CY2013	adc	Real Estate Acquisitions Financed With Debt Assumption RealEstateAcquisitionsFinancedWithDebtAssumption	0	USD
CY2014	adc	Real Estate Acquisitions Financed With Debt Assumption RealEstateAcquisitionsFinancedWithDebtAssumption	5631183	USD
CY2012Q4	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	149054	USD
CY2013Q4	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	566793	USD
CY2014Q4	us-gaap	Real Estate Inventory Capitalized Interest Costs RealEstateInventoryCapitalizedInterestCosts	263472	USD
CY2014	dei	Document Type DocumentType	10-K
CY2014	dei	Amendment Flag AmendmentFlag	false
CY2014	dei	Document Period End Date DocumentPeriodEndDate	2014-12-31
CY2014	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2014
CY2014	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	FY
CY2014	dei	Entity Registrant Name EntityRegistrantName	AGREE REALTY CORP
CY2014	dei	Entity Central Index Key EntityCentralIndexKey	0000917251
CY2014	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2014	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	No
CY2014	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2014	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2014	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
CY2014Q2	dei	Entity Public Float EntityPublicFloat	452247390	USD
CY2014	dei	Trading Symbol TradingSymbol	ADC
CY2015Q1	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	17617747	shares
CY2014Q4	us-gaap	Minority Interest Ownership Percentage By Parent MinorityInterestOwnershipPercentageByParent	0.9806	pure
CY2013Q4	us-gaap	Taxes Payable Current TaxesPayableCurrent	0	USD
CY2014Q4	us-gaap	Taxes Payable Current TaxesPayableCurrent	0	USD
CY2013	us-gaap	Current Income Tax Expense Benefit CurrentIncomeTaxExpenseBenefit	3000	USD
CY2014	us-gaap	Current Income Tax Expense Benefit CurrentIncomeTaxExpenseBenefit	-14000	USD
CY2013Q1	us-gaap	Revenues Revenues	9928000	USD
CY2013Q3	us-gaap	Profit Loss ProfitLoss	4646000	USD
CY2014Q3	us-gaap	Profit Loss ProfitLoss	4966000	USD
CY2013Q4	us-gaap	Profit Loss ProfitLoss	5622000	USD
CY2014Q4	us-gaap	Profit Loss ProfitLoss	5723000	USD
CY2013Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.41
CY2014Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.37
CY2014	us-gaap	Use Of Estimates UseOfEstimates	<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="FONT-WEIGHT: normal"><i><u>Use of Estimates</u></i></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="FONT-WEIGHT: normal">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of (1) assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and (2) revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2014	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="FONT-WEIGHT: normal"> <i><u>Reclassifications</u></i></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="FONT-WEIGHT: normal">The results of operations for properties that had been disposed of or classified as held for sale prior to March 31, 2014 are reported as discontinued operations. As a result of these discontinued operations, certain reclassifications of prior period amounts have been made in the financial statements in order to conform to the 2014 presentation.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2013Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.34
CY2014Q2	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.18
CY2013Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.35
CY2014Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.33
CY2013Q4	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.40
CY2014Q4	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.36
CY2014Q1	us-gaap	Revenues Revenues	12575000	USD
CY2013Q2	us-gaap	Revenues Revenues	10601000	USD
CY2014Q2	us-gaap	Revenues Revenues	12904000	USD
CY2013Q3	us-gaap	Revenues Revenues	11272000	USD
CY2014Q3	us-gaap	Revenues Revenues	13757000	USD
CY2013Q4	us-gaap	Revenues Revenues	11716000	USD
CY2014Q4	us-gaap	Revenues Revenues	14323000	USD
CY2013Q1	us-gaap	Profit Loss ProfitLoss	5392000	USD
CY2014Q1	us-gaap	Profit Loss ProfitLoss	5509000	USD
CY2013Q2	us-gaap	Profit Loss ProfitLoss	4530000	USD
CY2014Q2	us-gaap	Profit Loss ProfitLoss	2716000	USD
CY2012	us-gaap	Amortization Of Deferred Charges AmortizationOfDeferredCharges	1712530	USD
CY2013	us-gaap	Amortization Of Deferred Charges AmortizationOfDeferredCharges	2483217	USD
CY2014	us-gaap	Amortization Of Deferred Charges AmortizationOfDeferredCharges	3567409	USD
CY2014Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	4520488	USD
CY2014Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	4457198	USD
CY2014Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	4413059	USD
CY2014Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	4229714	USD
CY2014Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Five FiniteLivedIntangibleAssetsAmortizationExpenseYearFive	3679802	USD
CY2014Q4	us-gaap	Finite Lived Intangible Assets Amortization Expense After Year Five FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive	29970956	USD
CY2012	us-gaap	Weighted Average Number Of Shares Issued Basic WeightedAverageNumberOfSharesIssuedBasic	11321498	shares
CY2013	us-gaap	Weighted Average Number Of Shares Issued Basic WeightedAverageNumberOfSharesIssuedBasic	13314989	shares
CY2014	us-gaap	Weighted Average Number Of Shares Issued Basic WeightedAverageNumberOfSharesIssuedBasic	15121212	shares
CY2012	us-gaap	Weighted Average Number Of Shares Restricted Stock WeightedAverageNumberOfSharesRestrictedStock	250180	shares
CY2013	us-gaap	Weighted Average Number Of Shares Restricted Stock WeightedAverageNumberOfSharesRestrictedStock	249082	shares
CY2014	us-gaap	Weighted Average Number Of Shares Restricted Stock WeightedAverageNumberOfSharesRestrictedStock	238626	shares
CY2012	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	65592	shares
CY2013	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	91598	shares
CY2014	us-gaap	Incremental Common Shares Attributable To Share Based Payment Arrangements IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	84309	shares
CY2013Q4	us-gaap	Minority Interest Ownership Percentage By Parent MinorityInterestOwnershipPercentageByParent	0.9772	pure
CY2013Q4	us-gaap	Real Estate Accumulated Depreciation RealEstateAccumulatedDepreciation	65436739	USD
CY2012Q4	us-gaap	Real Estate Accumulated Depreciation RealEstateAccumulatedDepreciation	58856688	USD
CY2013	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	-21543	USD
CY2014	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	-355	USD
CY2014	adc	Stock Issued During Period Value Share Based Compensation Gross1 StockIssuedDuringPeriodValueShareBasedCompensationGross1	0	USD
CY2014Q4	us-gaap	Real Estate And Accumulated Depreciation Amount Of Encumbrances RealEstateAndAccumulatedDepreciationAmountOfEncumbrances	106762238	USD
CY2014Q4	us-gaap	Real Estate And Accumulated Depreciation Initial Cost Of Land RealEstateAndAccumulatedDepreciationInitialCostOfLand	197046698	USD
CY2012Q4	us-gaap	Dividends Payable Amount Per Share DividendsPayableAmountPerShare	1.600
CY2013Q4	us-gaap	Dividends Payable Amount Per Share DividendsPayableAmountPerShare	1.640
CY2014Q4	us-gaap	Dividends Payable Amount Per Share DividendsPayableAmountPerShare	1.740
CY2012	us-gaap	Proceeds From Issuance Of Secured Debt ProceedsFromIssuanceOfSecuredDebt	48640000	USD
CY2013	us-gaap	Proceeds From Issuance Of Secured Debt ProceedsFromIssuanceOfSecuredDebt	0	USD
CY2014	us-gaap	Proceeds From Issuance Of Secured Debt ProceedsFromIssuanceOfSecuredDebt	0	USD
CY2012	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	318289	USD
CY2012Q4	us-gaap	Registration Payment Arrangement Maximum Potential Consideration RegistrationPaymentArrangementMaximumPotentialConsideration	250000000	USD
CY2014Q4	us-gaap	Number Of Real Estate Properties NumberOfRealEstateProperties	209	pure
CY2013Q4	us-gaap	Number Of Real Estate Properties NumberOfRealEstateProperties	130	pure
CY2013Q4	us-gaap	Real Estate Gross At Carrying Value RealEstateGrossAtCarryingValue	476168824	USD
CY2012Q4	us-gaap	Real Estate Gross At Carrying Value RealEstateGrossAtCarryingValue	398811830	USD
CY2011Q4	us-gaap	Real Estate Gross At Carrying Value RealEstateGrossAtCarryingValue	340073911	USD
CY2014	adc	Real Estate Construction And Acquisition Cost RealEstateConstructionAndAcquisitionCost	143365974	USD
CY2013	adc	Real Estate Construction And Acquisition Cost RealEstateConstructionAndAcquisitionCost	82692554	USD
CY2012	adc	Real Estate Construction And Acquisition Cost RealEstateConstructionAndAcquisitionCost	97418031	USD
CY2014	us-gaap	Real Estate Cost Of Real Estate Sold RealEstateCostOfRealEstateSold	27367786	USD
CY2013	us-gaap	Real Estate Cost Of Real Estate Sold RealEstateCostOfRealEstateSold	4885560	USD
CY2012	us-gaap	Real Estate Cost Of Real Estate Sold RealEstateCostOfRealEstateSold	38680112	USD
CY2014Q4	us-gaap	Real Estate Gross At Carrying Value RealEstateGrossAtCarryingValue	589147012	USD
CY2014	us-gaap	Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense	8361698	USD
CY2013	us-gaap	Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense	6930145	USD
CY2012	us-gaap	Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense	5726319	USD
CY2014	us-gaap	Real Estate Accumulated Depreciation Real Estate Sold RealEstateAccumulatedDepreciationRealEstateSold	14708586	USD
CY2013	us-gaap	Real Estate Accumulated Depreciation Real Estate Sold RealEstateAccumulatedDepreciationRealEstateSold	350094	USD
CY2012	us-gaap	Real Estate Accumulated Depreciation Real Estate Sold RealEstateAccumulatedDepreciationRealEstateSold	15459409	USD
CY2014Q4	us-gaap	Real Estate Accumulated Depreciation RealEstateAccumulatedDepreciation	59089851	USD
CY2014Q4	us-gaap	Land Subject To Ground Leases LandSubjectToGroundLeases	4315000	sqft
CY2011Q4	us-gaap	Real Estate Accumulated Depreciation RealEstateAccumulatedDepreciation	68589778	USD
CY2014Q4	us-gaap	Tax Basis Of Investments Cost For Income Tax Purposes TaxBasisOfInvestmentsCostForIncomeTaxPurposes	14723000	USD
CY2014	us-gaap	Debt Instrument Payment Terms DebtInstrumentPaymentTerms	mortgage loan of $21,398,000 is partially recourse to us and is secured by a limited guaranty of payment and performance for approximately 50% of the loan amount.
CY2014Q4	us-gaap	Real Estate Investment Property At Cost RealEstateInvestmentPropertyAtCost	589147012	USD
CY2013Q4	us-gaap	Real Estate Investment Property At Cost RealEstateInvestmentPropertyAtCost	471365909	USD
CY2014Q4	us-gaap	Operating Leases Future Minimum Payments Receivable Current OperatingLeasesFutureMinimumPaymentsReceivableCurrent	54370464	USD
CY2014Q4	us-gaap	Operating Leases Future Minimum Payments Receivable In Two Years OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears	53876771	USD
CY2014Q4	us-gaap	Operating Leases Future Minimum Payments Receivable In Three Years OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears	53123664	USD
CY2014Q4	us-gaap	Operating Leases Future Minimum Payments Receivable In Four Years OperatingLeasesFutureMinimumPaymentsReceivableInFourYears	51646088	USD
CY2014Q4	us-gaap	Operating Leases Future Minimum Payments Receivable In Five Years OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears	48813782	USD
CY2014Q4	us-gaap	Operating Leases Future Minimum Payments Receivable Thereafter OperatingLeasesFutureMinimumPaymentsReceivableThereafter	414382007	USD
CY2014Q4	us-gaap	Operating Leases Future Minimum Payments Receivable OperatingLeasesFutureMinimumPaymentsReceivable	676212776	USD
CY2014Q4	us-gaap	Operating Leases Future Minimum Payments Due Current OperatingLeasesFutureMinimumPaymentsDueCurrent	514653	USD
CY2014Q4	us-gaap	Operating Leases Future Minimum Payments Due In Two Years OperatingLeasesFutureMinimumPaymentsDueInTwoYears	514653	USD
CY2014Q4	us-gaap	Operating Leases Future Minimum Payments Due In Three Years OperatingLeasesFutureMinimumPaymentsDueInThreeYears	514653	USD
CY2014Q4	us-gaap	Operating Leases Future Minimum Payments Due In Four Years OperatingLeasesFutureMinimumPaymentsDueInFourYears	515569	USD
CY2014Q4	us-gaap	Operating Leases Future Minimum Payments Due In Five Years OperatingLeasesFutureMinimumPaymentsDueInFiveYears	508528	USD
CY2014Q4	us-gaap	Operating Leases Future Minimum Payments Due Thereafter OperatingLeasesFutureMinimumPaymentsDueThereafter	8825546	USD
CY2014Q4	us-gaap	Operating Leases Future Minimum Payments Due OperatingLeasesFutureMinimumPaymentsDue	11393602	USD
CY2014	us-gaap	Business Acquisitions Pro Forma Revenue BusinessAcquisitionsProFormaRevenue	57840000	USD
CY2014	us-gaap	Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax	19369000	USD
CY2013	us-gaap	Business Acquisitions Pro Forma Revenue BusinessAcquisitionsProFormaRevenue	50549000	USD
CY2013	us-gaap	Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax	20023000	USD
CY2014	adc	Deferred Revenue Revenue Recognization Period DeferredRevenueRevenueRecognizationPeriod	P2Y2M12D
CY2013Q4	us-gaap	Land Subject To Ground Leases LandSubjectToGroundLeases	3662000	sqft
CY2014Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	47479602	USD
CY2013Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	27705499	USD
CY2014	us-gaap	Operating Leases Rent Expense Minimum Rentals OperatingLeasesRentExpenseMinimumRentals	90000	USD
CY2014Q4	us-gaap	Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements	376664815	USD
CY2014Q4	us-gaap	Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Carrying Costs RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts	15435489	USD
CY2014Q4	us-gaap	Real Estate And Accumulated Depreciation Carrying Amount Of Land RealEstateAndAccumulatedDepreciationCarryingAmountOfLand	195091303	USD
CY2014Q4	us-gaap	Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements	394055709	USD

Files In Submission

Name	View Source	Status
0001144204-15-014605-index-headers.html	Edgar Link	pending
0001144204-15-014605-index.html	Edgar Link	pending
0001144204-15-014605.txt	Edgar Link	pending
0001144204-15-014605-xbrl.zip	Edgar Link	pending
adc-20141231.xml	Edgar Link	completed
adc-20141231.xsd	Edgar Link	pending
adc-20141231_cal.xml	Edgar Link	unprocessable
adc-20141231_def.xml	Edgar Link	unprocessable
adc-20141231_lab.xml	Edgar Link	unprocessable
adc-20141231_pre.xml	Edgar Link	unprocessable
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xls	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
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$ADC
AGREE REALTY CORP Stock $adc

2014 Form 10-K Financial Statement

#000114420415014605 Filed on March 06, 2015

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ADC AGREE REALTY CORP Stock $adc

2014 Form 10-K Financial Statement

#000114420415014605 Filed on March 06, 2015

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$ADC
AGREE REALTY CORP Stock $adc