$FCPT
Four Corners Property Trust, Inc.

2024 Q3 Form 10-Q Financial Statement

#000095017024089412 Filed on August 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $66.79M $66.48M
YoY Change 3.01% 9.54%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $15.49M $16.17M
YoY Change -0.96% 4.52%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $13.61M $13.35M
YoY Change 1.54% 12.93%
% of Gross Profit
Operating Expenses $29.10M $29.52M
YoY Change 0.12% 8.16%
Operating Profit
YoY Change
Interest Expense $12.32M $12.32M
YoY Change 0.39% -222.61%
% of Operating Profit
Other Income/Expense, Net $331.0K $150.0K
YoY Change 18.21% -33.63%
Pretax Income $25.70M $24.79M
YoY Change 6.65% 4.39%
Income Tax $90.00K $86.00K
% Of Pretax Income 0.35% 0.35%
Net Earnings $25.58M $24.67M
YoY Change 5.88% 4.43%
Net Earnings / Revenue 38.3% 37.11%
Basic Earnings Per Share $0.27 $0.27
Diluted Earnings Per Share $0.27 $0.27
COMMON SHARES
Basic Shares Outstanding 92.66M 91.99M shares
Diluted Shares Outstanding 94.88M 91.99M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $44.50M $17.17M
YoY Change 680.61% 53.32%
Cash & Equivalents $44.50M $17.17M
Short-Term Investments
Other Short-Term Assets $1.417M $1.295M
YoY Change 9.0% 0.7%
Inventory $185.0K $198.0K
Prepaid Expenses
Receivables $2.405M $2.521M
Other Receivables $0.00 $0.00
Total Short-Term Assets $44.50M $17.17M
YoY Change 363.49% 14.32%
LONG-TERM ASSETS
Property, Plant & Equipment $2.307B $2.252B
YoY Change 4.34% 6.63%
Goodwill
YoY Change
Intangibles $118.5M $114.1M
YoY Change -3.0% -0.18%
Long-Term Investments
YoY Change
Other Assets $69.50M $68.38M
YoY Change -13.88% 1.03%
Total Long-Term Assets $2.520B $2.469B
YoY Change 3.01% 6.28%
TOTAL ASSETS
Total Short-Term Assets $44.50M $17.17M
Total Long-Term Assets $2.520B $2.469B
Total Assets $2.564B $2.486B
YoY Change 4.42% 6.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $652.0K $373.0K
YoY Change 8.67% -29.62%
Accrued Expenses $18.81M $17.14M
YoY Change -4.01% 26.37%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $46.41M $44.09M
YoY Change -35.9% -34.78%
LONG-TERM LIABILITIES
Long-Term Debt $1.132B $1.159B
YoY Change 0.54% 14.53%
Other Long-Term Liabilities $30.96M $21.83M
YoY Change 714.79% 501.21%
Total Long-Term Liabilities $1.163B $1.180B
YoY Change 2.95% 16.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $46.41M $44.09M
Total Long-Term Liabilities $1.163B $1.180B
Total Liabilities $1.210B $1.225B
YoY Change 0.61% 12.85%
SHAREHOLDERS EQUITY
Retained Earnings -$48.55M -$40.91M
YoY Change 153.31% 224.64%
Common Stock $10.00K $9.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.353B $1.259B
YoY Change
Total Liabilities & Shareholders Equity $2.564B $2.486B
YoY Change 4.42% 6.33%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $25.58M $24.67M
YoY Change 5.88% 4.43%
Depreciation, Depletion And Amortization $13.61M $13.35M
YoY Change 1.54% 12.93%
Cash From Operating Activities $43.39M $39.67M
YoY Change 0.68% -16.73%
INVESTING ACTIVITIES
Capital Expenditures $72.84M $47.14M
YoY Change -45.44% -72.93%
Acquisitions
YoY Change
Other Investing Activities -$510.0K $175.0K
YoY Change -104.11% -85.73%
Cash From Investing Activities -$73.35M -$46.96M
YoY Change -39.43% -72.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 57.29M -2.310M
YoY Change -31.06% -102.2%
NET CHANGE
Cash From Operating Activities 43.39M 39.67M
Cash From Investing Activities -73.35M -46.96M
Cash From Financing Activities 57.29M -2.310M
Net Change In Cash 27.33M -9.597M
YoY Change 435.84% -52.49%
FREE CASH FLOW
Cash From Operating Activities $43.39M $39.67M
Capital Expenditures $72.84M $47.14M
Free Cash Flow -$29.45M -$7.462M
YoY Change -67.42% -94.1%

Facts In Submission

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CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
29000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
7000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
40000
CY2024Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
30000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
1000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
67000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
21000
CY2024Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
24770000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
32097000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
54375000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
47562000
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1264230000
CY2024Q2 us-gaap Profit Loss
ProfitLoss
24702000
CY2024Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
98000
CY2024Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2385000
CY2024Q2 us-gaap Dividends Common Stock
DividendsCommonStock
31734000
CY2024Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1731000
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1261412000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1259863000
us-gaap Profit Loss
ProfitLoss
48776000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5666000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
9283000
us-gaap Dividends Common Stock
DividendsCommonStock
63430000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1254000
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1261412000
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1132967000
CY2023Q2 us-gaap Profit Loss
ProfitLoss
23655000
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
8443000
CY2023Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
119279000
CY2023Q2 us-gaap Dividends Common Stock
DividendsCommonStock
30763000
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1560000
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1255141000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1138310000
us-gaap Profit Loss
ProfitLoss
46810000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
773000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
128184000
us-gaap Dividends Common Stock
DividendsCommonStock
60005000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1069000
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1255141000
us-gaap Profit Loss
ProfitLoss
48776000
us-gaap Profit Loss
ProfitLoss
46810000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
26812000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
23993000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
1735000
fcpt Non Cash Revenue Adjustments
NonCashRevenueAdjustments
1052000
fcpt Non Cash Revenue Adjustments
NonCashRevenueAdjustments
984000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1291000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1128000
us-gaap Share Based Compensation
ShareBasedCompensation
3371000
us-gaap Share Based Compensation
ShareBasedCompensation
3326000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-92000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-48000
us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
295000
us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
-8372000
fcpt Increase Decrease In Straight Line Rent Adjustment
IncreaseDecreaseInStraightLineRentAdjustment
2287000
fcpt Increase Decrease In Straight Line Rent Adjustment
IncreaseDecreaseInStraightLineRentAdjustment
2639000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1915000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
1530000
fcpt Lessor Payments Of Lease Incentives To Tenants
LessorPaymentsOfLeaseIncentivesToTenants
1119000
fcpt Lessor Payments Of Lease Incentives To Tenants
LessorPaymentsOfLeaseIncentivesToTenants
0
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
8295000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-3853000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
67299000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
85574000
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
63810000
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
194970000
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
0
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
13464000
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
-400000
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
1750000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-63410000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-183256000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
9283000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
128184000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1397000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
50000000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
0
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
85000000
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
0
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
73000000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
15000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
62000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0
us-gaap Payments Of Dividends
PaymentsOfDividends
63195000
us-gaap Payments Of Dividends
PaymentsOfDividends
58266000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
79000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
78000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2117000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2257000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-11505000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
82583000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7616000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-15099000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
24783000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26296000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17167000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11197000
us-gaap Interest Paid Net
InterestPaidNet
29509000
us-gaap Interest Paid Net
InterestPaidNet
23261000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
375000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
343000
us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
110433000
us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
98764000
us-gaap Operating Lease Payments
OperatingLeasePayments
460000
us-gaap Operating Lease Payments
OperatingLeasePayments
452000
CY2024Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
31695000
CY2023Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
30724000
us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
5961000
us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
-7599000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:9pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:3.333%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of these Consolidated Financial Statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The estimates and assumptions used in the accompanying Consolidated Financial Statements are based on management’s evaluation of the relevant facts and circumstances. Actual results may differ from the estimates and assumptions used in preparing the accompanying Consolidated Financial Statements, and such differences could be material.</span></p>
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
fcpt Assets Held For Sale Disposal Period
AssetsHeldForSaleDisposalPeriod
P1Y
CY2024Q2 fcpt Number Of Properties Held For Sale
NumberOfPropertiesHeldForSale
0
CY2023Q4 fcpt Number Of Properties Held For Sale
NumberOfPropertiesHeldForSale
0
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17167000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16322000
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
0
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
8461000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17167000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
24783000
us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Derivative Instruments and Hedging Activities</span></p><p style="text-indent:3.333%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">We enter into derivative instruments for risk management purposes only, including derivatives designated as hedging instruments as required by FASB ASC Topic 815, Derivatives and Hedging, and those utilized as economic hedges. Our use of derivative instruments is currently limited to interest rate hedges. These instruments are generally structured as hedges of the variability of cash flows related to forecasted transactions (cash flow hedges). We do not enter into derivative instruments for trading or speculative purposes, where changes in the cash flows of the derivative are not expected to offset changes in cash flows of the hedged item. All derivatives are recognized on the balance sheet at fair value. For those derivative instruments for which we intend to elect hedge accounting, at the time the derivative contract is entered into, we document all relationships between hedging instruments and hedged items, as well as our risk-management objective and strategy for undertaking the various hedge transactions. This process includes linking all derivatives designated as cash flow hedges to specific assets and liabilities on the consolidated balance sheet or to specific forecasted transactions. We also formally assess, both at the hedge’s inception and on an ongoing basis, whether the derivatives used in hedging transactions are highly effective in offsetting changes in cash flows of hedged items.</span></p><p style="text-indent:3.333%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">To the extent our derivatives are effective in offsetting the variability of the hedged cash flows, and otherwise meet the cash flow hedge accounting criteria in accordance with United States generally accepted accounting principles (“U.S. GAAP”), changes in the derivatives’ fair value are not included in current earnings but are included in accumulated other comprehensive income, net of tax. These changes in fair value will be reclassified into earnings at the time of the forecasted transaction. Ineffectiveness measured in the hedging relationship is recorded in earnings in the period in which it occurs.</span></p>
CY2024Q2 fcpt Lessor Payments Of Lease Incentives To Tenants
LessorPaymentsOfLeaseIncentivesToTenants
0
fcpt Lessor Payments Of Lease Incentives To Tenants
LessorPaymentsOfLeaseIncentivesToTenants
1100000
fcpt Lessor Payments Of Lease Incentives To Tenants
LessorPaymentsOfLeaseIncentivesToTenants
0
fcpt Number Of Real Estate Properties Sold
NumberOfRealEstatePropertiesSold
0
CY2023Q2 fcpt Number Of Real Estate Properties Sold
NumberOfRealEstatePropertiesSold
1
CY2023Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
173000
fcpt Number Of Real Estate Properties Sold
NumberOfRealEstatePropertiesSold
4
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
1700000
CY2024Q2 fcpt Redeemable Noncontrolling Interest Equity Redemption Ratio
RedeemableNoncontrollingInterestEquityRedemptionRatio
1
CY2024Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
47
CY2024Q2 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
23900000
fcpt Real Estate Investments Contingent Consideration
RealEstateInvestmentsContingentConsideration
0
fcpt Number Of Real Estate Properties Sold
NumberOfRealEstatePropertiesSold
0
fcpt Real Estate Investments Contingent Consideration
RealEstateInvestmentsContingentConsideration
0
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
1700000
CY2024Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
14040000
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
14040000
CY2024Q2 fcpt Intangible Assets Gross Excluding Goodwill And Finance Lease Right Of Use Asset
IntangibleAssetsGrossExcludingGoodwillAndFinanceLeaseRightOfUseAsset
182841000
CY2023Q4 fcpt Intangible Assets Gross Excluding Goodwill And Finance Lease Right Of Use Asset
IntangibleAssetsGrossExcludingGoodwillAndFinanceLeaseRightOfUseAsset
176990000
CY2024Q2 fcpt Finite Lived Intangible Assets And Finance Lease Right Of Use Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAndFinanceLeaseRightOfUseAssetsAccumulatedAmortization
68754000
CY2023Q4 fcpt Finite Lived Intangible Assets And Finance Lease Right Of Use Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAndFinanceLeaseRightOfUseAssetsAccumulatedAmortization
58963000
CY2024Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
114087000
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
118027000
CY2024Q2 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
2610000
CY2023Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
2610000
CY2024Q2 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
1518000
CY2023Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
1414000
CY2024Q2 us-gaap Below Market Lease Net
BelowMarketLeaseNet
1092000
CY2023Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
1196000
fcpt Intangible Lease Assets And Liabilities Weighted Average Amortization Period
IntangibleLeaseAssetsAndLiabilitiesWeightedAverageAmortizationPeriod
P8Y6M
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
8714000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
15528000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
13753000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
11372000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
8957000
CY2024Q2 fcpt Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
32953000
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
91277000
fcpt Number Of Ground Leases
NumberOfGroundLeases
2
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
361000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
470000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
310000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
319000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
319000
CY2024Q2 fcpt Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
4433000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
6212000
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1830000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4382000
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0439
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P15Y9M18D
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
232000
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
217000
us-gaap Operating Lease Cost
OperatingLeaseCost
459000
us-gaap Operating Lease Cost
OperatingLeaseCost
457000
CY2024Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
56223000
CY2023Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
50593000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
112111000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
100267000
CY2024Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
2316000
CY2023Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
2250000
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
5001000
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
4773000
CY2024Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
58539000
CY2023Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
52843000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
117112000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
105040000
CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
112003000
CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
223500000
CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
222070000
CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
214014000
CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
187835000
CY2024Q2 fcpt Lessor Operating Lease Payments To Be Received After Four Years
LessorOperatingLeasePaymentsToBeReceivedAfterFourYears
852160000
CY2024Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1811582000
CY2024Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
0
CY2023Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
0
CY2024Q2 fcpt Long Term Debt Gross Maturity Remainder Of Fiscal Year
LongTermDebtGrossMaturityRemainderOfFiscalYear
0
CY2024Q2 fcpt Long Term Debt Gross Maturity Year One
LongTermDebtGrossMaturityYearOne
177000000
CY2024Q2 fcpt Long Term Debt Gross Maturity Year Two
LongTermDebtGrossMaturityYearTwo
150000000
CY2024Q2 fcpt Long Term Debt Gross Maturity Year Three
LongTermDebtGrossMaturityYearThree
250000000
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CY2023Q4 us-gaap Derivative Liabilities
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CY2024Q2 us-gaap Other Assets
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CY2023Q4 us-gaap Other Assets
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CY2024Q2 us-gaap Preferred Stock Shares Authorized
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CY2024Q2 us-gaap Preferred Stock Shares Issued
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CY2023Q4 us-gaap Preferred Stock Shares Issued
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CY2023Q4 us-gaap Preferred Stock Shares Outstanding
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CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
92102202
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2024Q1 us-gaap Dividends Payable Date Declared Day Month And Year
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CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
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CY2024Q1 us-gaap Dividends Payable Date To Be Paid Month And Year
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CY2024Q1 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
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CY2024Q2 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
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CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.345
CY2024Q2 us-gaap Dividends Payable Date To Be Paid Month And Year
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2024-07
CY2024Q2 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2024-06-28
CY2024Q2 us-gaap Units Of Partnership Interest Amount
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114559
CY2024Q2 fcpt Redeemable Noncontrolling Interest Shares Convertible Conversion Ratio
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1
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2800000
CY2023Q4 us-gaap Redeemable Noncontrolling Interest Equity Redemption Value
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2900000
CY2024Q2 us-gaap Units Of Partnership Interest Amount
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114559
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87366335
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
91763619
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86604202
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
186298
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
212663
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
220948
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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91994062
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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91976282
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q2 us-gaap Net Income Loss
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24672000
CY2023Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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48716000
us-gaap Net Income Loss
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46749000
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0.27
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0.53
us-gaap Earnings Per Share Basic
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0.54
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EarningsPerShareDiluted
0.27
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.27
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.53
us-gaap Earnings Per Share Diluted
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0.54
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462388
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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385728
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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436023
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
354456
CY2024Q2 fcpt Weighted Average Units Of Partnership Interest Amount
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114559
fcpt Weighted Average Units Of Partnership Interest Amount
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114559
CY2023Q2 fcpt Weighted Average Units Of Partnership Interest Amount
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114559
fcpt Weighted Average Units Of Partnership Interest Amount
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114559
CY2022Q2 fcpt Common Stock Increase Decrease In Capital Shares Reserved For Future Issuance
CommonStockIncreaseDecreaseInCapitalSharesReservedForFutureIssuance
1500000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
3600000
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1445751
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
11900000
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
7462000
fcpt Employee Service Share Based Compensation Nonvested Awards Compensation Not Yet Recognized Share Based Awards Other Than Options Grants In Period
EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationNotYetRecognizedShareBasedAwardsOtherThanOptionsGrantsInPeriod
8377000
fcpt Employee Service Share Based Compensation Nonvested Awards Compensation Not Yet Recognized Share Based Awards Other Than Options Forfeited In Period
EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationNotYetRecognizedShareBasedAwardsOtherThanOptionsForfeitedInPeriod
566000
fcpt Employee Service Share Based Compensation Non Vested Awards Compensation Not Yet Recognized Share Based Awards Other Than Options Compensation Expense In Period
EmployeeServiceShareBasedCompensationNonVestedAwardsCompensationNotYetRecognizedShareBasedAwardsOtherThanOptionsCompensationExpenseInPeriod
3371000
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
11902000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P2Y1M6D
CY2023Q2 us-gaap Number Of Operating Segments
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2
CY2024Q2 us-gaap Number Of Operating Segments
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2
us-gaap Number Of Operating Segments
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CY2024Q2 us-gaap Lease Income
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58539000
CY2024Q2 us-gaap Revenues
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CY2024Q2 us-gaap General And Administrative Expense
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CY2024Q2 us-gaap Depreciation And Amortization
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CY2024Q2 us-gaap Operating Expenses
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CY2024Q2 us-gaap Other Nonoperating Income
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CY2024Q2 us-gaap Gain Loss On Sale Of Properties
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0
CY2024Q2 us-gaap Income Tax Expense Benefit
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86000
CY2024Q2 us-gaap Profit Loss
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24702000
CY2023Q2 us-gaap Lease Income
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CY2023Q2 us-gaap Revenues
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CY2023Q2 us-gaap General And Administrative Expense
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CY2023Q2 us-gaap Depreciation And Amortization
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CY2023Q2 us-gaap Operating Expenses
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CY2023Q2 us-gaap Other Nonoperating Income
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226000
CY2023Q2 us-gaap Gain Loss On Sale Of Properties
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173000
CY2023Q2 us-gaap Income Tax Expense Benefit
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91000
CY2023Q2 us-gaap Profit Loss
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23655000
us-gaap Lease Income
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us-gaap Operating Expenses
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us-gaap Other Nonoperating Income
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us-gaap Gain Loss On Sale Of Properties
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us-gaap Profit Loss
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us-gaap Other Nonoperating Income
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us-gaap Profit Loss
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CY2024Q2 us-gaap Real Estate Investment Property At Cost
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CY2024Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
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757054000
CY2024Q2 us-gaap Real Estate Investment Property Net
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2251706000
CY2024Q2 us-gaap Cash
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CY2024Q2 us-gaap Assets
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CY2024Q2 us-gaap Long Term Debt
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CY2023Q4 us-gaap Real Estate Investment Property At Cost
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CY2023Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
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738946000
CY2023Q4 us-gaap Real Estate Investment Property Net
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2210475000
CY2023Q4 us-gaap Cash
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CY2023Q4 us-gaap Assets
Assets
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CY2023Q4 us-gaap Long Term Debt
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CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
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CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
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CY2024Q2 ecd Rule10b51 Arr Adopted Flag
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