$FCPT
Four Corners Property Trust, Inc.

2024 Q4 Form 10-Q Financial Statement

#000095017024119590 Filed on October 31, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $66.79M
YoY Change 3.01%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $15.49M
YoY Change -0.96%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $13.61M
YoY Change 1.54%
% of Gross Profit
Operating Expenses $29.10M
YoY Change 0.12%
Operating Profit
YoY Change
Interest Expense $12.32M
YoY Change 0.39%
% of Operating Profit
Other Income/Expense, Net $331.0K
YoY Change 18.21%
Pretax Income $25.70M
YoY Change 6.65%
Income Tax $90.00K
% Of Pretax Income 0.35%
Net Earnings $25.58M
YoY Change 5.88%
Net Earnings / Revenue 38.3%
Basic Earnings Per Share $0.27
Diluted Earnings Per Share $0.27
COMMON SHARES
Basic Shares Outstanding 96.73M 92.66M
Diluted Shares Outstanding 94.88M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $44.50M
YoY Change 680.61%
Cash & Equivalents $44.50M
Short-Term Investments
Other Short-Term Assets $1.417M
YoY Change 9.0%
Inventory $185.0K
Prepaid Expenses
Receivables $2.405M
Other Receivables $0.00
Total Short-Term Assets $44.50M
YoY Change 363.49%
LONG-TERM ASSETS
Property, Plant & Equipment $2.307B
YoY Change 4.34%
Goodwill
YoY Change
Intangibles $118.5M
YoY Change -3.0%
Long-Term Investments
YoY Change
Other Assets $69.50M
YoY Change -13.88%
Total Long-Term Assets $2.520B
YoY Change 3.01%
TOTAL ASSETS
Total Short-Term Assets $44.50M
Total Long-Term Assets $2.520B
Total Assets $2.564B
YoY Change 4.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $652.0K
YoY Change 8.67%
Accrued Expenses $18.81M
YoY Change -4.01%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $46.41M
YoY Change -35.9%
LONG-TERM LIABILITIES
Long-Term Debt $1.132B
YoY Change 0.54%
Other Long-Term Liabilities $30.96M
YoY Change 714.79%
Total Long-Term Liabilities $1.163B
YoY Change 2.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $46.41M
Total Long-Term Liabilities $1.163B
Total Liabilities $1.210B
YoY Change 0.61%
SHAREHOLDERS EQUITY
Retained Earnings -$48.55M
YoY Change 153.31%
Common Stock $10.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.353B
YoY Change
Total Liabilities & Shareholders Equity $2.564B
YoY Change 4.42%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $25.58M
YoY Change 5.88%
Depreciation, Depletion And Amortization $13.61M
YoY Change 1.54%
Cash From Operating Activities $43.39M
YoY Change 0.68%
INVESTING ACTIVITIES
Capital Expenditures $72.84M
YoY Change -45.44%
Acquisitions
YoY Change
Other Investing Activities -$510.0K
YoY Change -104.11%
Cash From Investing Activities -$73.35M
YoY Change -39.43%
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
YoY Change -31.06%
NET CHANGE
Cash From Operating Activities 43.39M
Cash From Investing Activities -73.35M
Cash From Financing Activities 57.29M
Net Change In Cash 27.33M
YoY Change 435.84%
FREE CASH FLOW
Cash From Operating Activities $43.39M
Capital Expenditures $72.84M
Free Cash Flow -$29.45M
YoY Change -67.42%

Facts In Submission

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75281000
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1261412000
CY2024Q3 us-gaap Profit Loss
ProfitLoss
25612000
CY2024Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-16864000
CY2024Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
116045000
CY2024Q3 us-gaap Dividends Common Stock
DividendsCommonStock
33257000
CY2024Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1793000
CY2024Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1354741000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1259863000
us-gaap Profit Loss
ProfitLoss
74388000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-11198000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
125328000
us-gaap Dividends Common Stock
DividendsCommonStock
96687000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3047000
CY2024Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1354741000
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1255141000
CY2023Q3 us-gaap Profit Loss
ProfitLoss
24192000
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
3602000
CY2023Q3 us-gaap Dividends Common Stock
DividendsCommonStock
30763000
CY2023Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1472000
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1253644000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1138310000
us-gaap Profit Loss
ProfitLoss
71003000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
4375000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
128184000
us-gaap Dividends Common Stock
DividendsCommonStock
90769000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2541000
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1253644000
us-gaap Profit Loss
ProfitLoss
74388000
us-gaap Profit Loss
ProfitLoss
71003000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
40418000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
37411000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
2053000
fcpt Non Cash Revenue Adjustments
NonCashRevenueAdjustments
1563000
fcpt Non Cash Revenue Adjustments
NonCashRevenueAdjustments
1510000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1944000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1720000
us-gaap Share Based Compensation
ShareBasedCompensation
5186000
us-gaap Share Based Compensation
ShareBasedCompensation
4798000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-153000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-232000
us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
336000
us-gaap Increase Decrease In Derivative Assets And Liabilities
IncreaseDecreaseInDerivativeAssetsAndLiabilities
-8350000
fcpt Increase Decrease In Straight Line Rent Adjustment
IncreaseDecreaseInStraightLineRentAdjustment
3343000
fcpt Increase Decrease In Straight Line Rent Adjustment
IncreaseDecreaseInStraightLineRentAdjustment
4358000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1122000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
1494000
fcpt Lessor Payments Of Lease Incentives To Tenants
LessorPaymentsOfLeaseIncentivesToTenants
1624000
fcpt Lessor Payments Of Lease Incentives To Tenants
LessorPaymentsOfLeaseIncentivesToTenants
0
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
6230000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-9056000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
110691000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
128699000
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
136653000
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
328469000
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
0
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
24087000
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
110000
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
35000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-136763000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-304417000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
125328000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
128184000
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
100000000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
50000000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
0
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1397000
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1098000
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
111000000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
118000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
127000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
88000000
us-gaap Payments Of Dividends
PaymentsOfDividends
94889000
us-gaap Payments Of Dividends
PaymentsOfDividends
88991000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
119000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
117000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2139000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2257000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
45784000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
165721000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
19712000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-9997000
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
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44495000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16299000
us-gaap Interest Paid Net
InterestPaidNet
43652000
us-gaap Interest Paid Net
InterestPaidNet
33031000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
408000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
355000
us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
167335000
us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
152648000
us-gaap Operating Lease Payments
OperatingLeasePayments
693000
us-gaap Operating Lease Payments
OperatingLeasePayments
678000
CY2024Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
33218000
CY2023Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
30724000
us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
-10862000
us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
-3975000
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
CY2024Q3 fcpt Number Of Properties Held For Sale
NumberOfPropertiesHeldForSale
0
CY2023Q4 fcpt Number Of Properties Held For Sale
NumberOfPropertiesHeldForSale
0
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
44495000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16322000
CY2024Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
0
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
8461000
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
44495000
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>
CY2024Q3 fcpt Payment Of Lease Incentive To Tenants
PaymentOfLeaseIncentiveToTenants
500000
fcpt Payment Of Lease Incentive To Tenants
PaymentOfLeaseIncentiveToTenants
1600000
CY2023Q3 fcpt Payment Of Lease Incentive To Tenants
PaymentOfLeaseIncentiveToTenants
200000
fcpt Payment Of Lease Incentive To Tenants
PaymentOfLeaseIncentiveToTenants
200000
fcpt Number Of Real Estate Properties Sold
NumberOfRealEstatePropertiesSold
0
CY2023Q3 fcpt Number Of Real Estate Properties Sold
NumberOfRealEstatePropertiesSold
2
CY2023Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
318000
fcpt Number Of Real Estate Properties Sold
NumberOfRealEstatePropertiesSold
6
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
2100000
CY2024Q3 fcpt Redeemable Noncontrolling Interest Equity Redemption Ratio
RedeemableNoncontrollingInterestEquityRedemptionRatio
1
CY2024Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
47
CY2024Q3 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
7100000
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
2100000
CY2024Q3 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
14040000
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
14040000
CY2024Q3 fcpt Intangible Assets Gross Excluding Goodwill And Finance Lease Right Of Use Asset
IntangibleAssetsGrossExcludingGoodwillAndFinanceLeaseRightOfUseAsset
192013000
CY2023Q4 fcpt Intangible Assets Gross Excluding Goodwill And Finance Lease Right Of Use Asset
IntangibleAssetsGrossExcludingGoodwillAndFinanceLeaseRightOfUseAsset
176990000
CY2024Q3 fcpt Finite Lived Intangible Assets And Finance Lease Right Of Use Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAndFinanceLeaseRightOfUseAssetsAccumulatedAmortization
73540000
CY2023Q4 fcpt Finite Lived Intangible Assets And Finance Lease Right Of Use Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAndFinanceLeaseRightOfUseAssetsAccumulatedAmortization
58963000
CY2024Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
118473000
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
118027000
CY2024Q3 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
2610000
CY2023Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
2610000
CY2024Q3 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
1570000
CY2023Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
1414000
CY2024Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
1040000
CY2023Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
1196000
CY2024Q3 fcpt Intangible Lease Assets And Liabilities Weighted Average Amortization Period
IntangibleLeaseAssetsAndLiabilitiesWeightedAverageAmortizationPeriod
P8Y8M12D
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
4468000
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
16294000
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
14519000
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
12138000
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
9722000
CY2024Q3 fcpt Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
38145000
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
95286000
fcpt Number Of Ground Leases
NumberOfGroundLeases
2
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
181000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
470000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
310000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
319000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
319000
CY2024Q3 fcpt Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
4433000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
6032000
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1784000
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
4248000
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0442
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P15Y9M18D
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
230000
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
226000
us-gaap Operating Lease Cost
OperatingLeaseCost
689000
us-gaap Operating Lease Cost
OperatingLeaseCost
683000
CY2024Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
57144000
CY2023Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
54882000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
169255000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
155149000
CY2024Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
2144000
CY2023Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
2361000
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
7145000
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
7118000
CY2024Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
59288000
CY2023Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
57243000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
176400000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
162267000
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
57563000
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
230150000
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
229198000
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
221359000
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
195210000
CY2024Q3 fcpt Lessor Operating Lease Payments To Be Received After Four Years
LessorOperatingLeasePaymentsToBeReceivedAfterFourYears
893569000
CY2024Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1827049000
CY2024Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
0
CY2023Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
0
CY2024Q3 us-gaap Derivative Basis Spread On Variable Rate
DerivativeBasisSpreadOnVariableRate
0.0010
CY2024Q3 fcpt Long Term Debt Gross Maturity Remainder Of Fiscal Year
LongTermDebtGrossMaturityRemainderOfFiscalYear
0
CY2024Q3 fcpt Long Term Debt Gross Maturity Year One
LongTermDebtGrossMaturityYearOne
150000000
CY2024Q3 fcpt Long Term Debt Gross Maturity Year Two
LongTermDebtGrossMaturityYearTwo
150000000
CY2024Q3 fcpt Long Term Debt Gross Maturity Year Three
LongTermDebtGrossMaturityYearThree
250000000
CY2024Q3 fcpt Long Term Debt Gross Maturity Year Four
LongTermDebtGrossMaturityYearFour
140000000
CY2024Q3 fcpt Long Term Debt Gross Maturity Year After Year Four
LongTermDebtGrossMaturityYearAfterYearFour
450000000
CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1140000000
fcpt Derivate Instrument Cash Flow Hedges Terminated
DerivateInstrumentCashFlowHedgesTerminated
1
us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimated Net Amount To Be Transferred
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred
6600000
CY2024Q3 us-gaap Interest Expense
InterestExpense
12324000
CY2023Q3 us-gaap Interest Expense
InterestExpense
12276000
us-gaap Interest Expense
InterestExpense
36929000
us-gaap Interest Expense
InterestExpense
32245000
CY2024Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
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CY2023Q4 us-gaap Preferred Stock Shares Outstanding
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CY2024Q3 us-gaap Common Stock Shares Issued
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CY2023Q4 us-gaap Redeemable Noncontrolling Interest Equity Redemption Value
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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93061647
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CY2024Q3 us-gaap Net Income Loss
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2024Q3 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
CY2023Q3 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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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
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3600000
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1532106
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
10000000
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
655000
fcpt Employee Service Share Based Compensation Non Vested Awards Compensation Not Yet Recognized Share Based Awards Other Than Options Compensation Expense In Period
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CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
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us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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CY2023Q3 us-gaap Number Of Operating Segments
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CY2024Q3 us-gaap Number Of Operating Segments
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us-gaap Number Of Operating Segments
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CY2024Q3 us-gaap Lease Income
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CY2024Q3 us-gaap Other Nonoperating Income
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CY2024Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
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CY2024Q3 us-gaap Real Estate Investment Property Net
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CY2024Q3 us-gaap Assets
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CY2023Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
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