$FCPT
Four Corners Property Trust, Inc.

2020 Q4 Form 10-Q Financial Statement

#000165013220000111 Filed on October 30, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q4
Revenue $44.62M $42.97M $40.88M
YoY Change 9.14% 6.93% 7.48%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $9.000M $8.570M $8.570M
YoY Change 5.02% 0.35% 4.64%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.700M $7.600M $6.800M
YoY Change 13.24% 15.15% 11.48%
% of Gross Profit
Operating Expenses $16.76M $16.09M $15.35M
YoY Change 9.21% 5.9% -2.91%
Operating Profit
YoY Change
Interest Expense $7.499M $7.410M $6.547M
YoY Change 14.54% 11.18% 23.69%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00 $70.00K
YoY Change -100.0% -100.0% 133.33%
Pretax Income $20.36M $19.47M $19.06M
YoY Change 6.82% 5.36% -10.96%
Income Tax $55.00K $67.00K $67.00K
% Of Pretax Income 0.27% 0.34% 0.35%
Net Earnings $20.31M $19.35M $18.99M
YoY Change 6.92% 5.55% -10.96%
Net Earnings / Revenue 45.51% 45.03% 46.46%
Basic Earnings Per Share $0.27 $0.27 $0.27
Diluted Earnings Per Share $0.27 $0.27 $0.27
COMMON SHARES
Basic Shares Outstanding 73.45M shares 71.01M shares 68.92M shares
Diluted Shares Outstanding 71.23M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.10M $17.70M $5.100M
YoY Change 117.65% -40.6% -94.46%
Cash & Equivalents $11.06M $17.74M $5.083M
Short-Term Investments
Other Short-Term Assets $1.100M $500.0K $800.0K
YoY Change 37.5% 66.67% 0.0%
Inventory $183.0K $126.0K $196.0K
Prepaid Expenses
Receivables $1.000M $1.900M $400.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $13.40M $20.20M $6.500M
YoY Change 106.15% -33.55% -93.07%
LONG-TERM ASSETS
Property, Plant & Equipment $1.503B $1.424B $1.336B
YoY Change 12.5% 14.71% 12.19%
Goodwill
YoY Change
Intangibles $96.29M $79.46M $57.92M
YoY Change 66.26% 120.79% 204.86%
Long-Term Investments
YoY Change
Other Assets $53.90M $48.90M $43.60M
YoY Change 23.62% 25.06% 31.72%
Total Long-Term Assets $1.655B $1.553B $1.440B
YoY Change 14.95% 17.92% 15.23%
TOTAL ASSETS
Total Short-Term Assets $13.40M $20.20M $6.500M
Total Long-Term Assets $1.655B $1.553B $1.440B
Total Assets $1.668B $1.574B $1.446B
YoY Change 15.36% 16.76% 7.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $400.0K $400.0K $800.0K
YoY Change -50.0% 0.0% -20.0%
Accrued Expenses $9.900M $13.60M $8.300M
YoY Change 19.28% 9.68% 118.42%
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 $46.30M $46.00M $40.90M
YoY Change 13.2% 11.38% 57.31%
LONG-TERM LIABILITIES
Long-Term Debt $753.9M $743.3M $669.9M
YoY Change 12.54% 20.39% 8.77%
Other Long-Term Liabilities $23.60M $26.20M $8.500M
YoY Change 177.65% 149.52% 269.57%
Total Long-Term Liabilities $777.5M $769.5M $678.4M
YoY Change 14.61% 22.55% 9.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $46.30M $46.00M $40.90M
Total Long-Term Liabilities $777.5M $769.5M $678.4M
Total Liabilities $823.7M $815.5M $719.3M
YoY Change 14.51% 21.85% 11.67%
SHAREHOLDERS EQUITY
Retained Earnings $26.67M $30.48M $38.40M
YoY Change -30.54% -25.32% -16.55%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $841.4M $754.2M $721.1M
YoY Change
Total Liabilities & Shareholders Equity $1.668B $1.574B $1.446B
YoY Change 15.36% 16.76% 7.67%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q4
OPERATING ACTIVITIES
Net Income $20.31M $19.35M $18.99M
YoY Change 6.92% 5.55% -10.96%
Depreciation, Depletion And Amortization $7.700M $7.600M $6.800M
YoY Change 13.24% 15.15% 11.48%
Cash From Operating Activities $26.10M $28.70M $23.40M
YoY Change 11.54% 5.13% 54.97%
INVESTING ACTIVITIES
Capital Expenditures -$107.0M -$51.50M -$124.1M
YoY Change -13.78% 212.12% 138.65%
Acquisitions
YoY Change
Other Investing Activities $400.0K $100.0K -$1.900M
YoY Change -121.05% -120.0% -133.93%
Cash From Investing Activities -$106.7M -$51.40M -$126.0M
YoY Change -15.32% 202.35% 171.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 73.90M 35.40M 77.80M
YoY Change -5.01% -279.7% -20.37%
NET CHANGE
Cash From Operating Activities 26.10M 28.70M 23.40M
Cash From Investing Activities -106.7M -51.40M -126.0M
Cash From Financing Activities 73.90M 35.40M 77.80M
Net Change In Cash -6.700M 12.70M -24.80M
YoY Change -72.98% -235.11% -137.35%
FREE CASH FLOW
Cash From Operating Activities $26.10M $28.70M $23.40M
Capital Expenditures -$107.0M -$51.50M -$124.1M
Free Cash Flow $133.1M $80.20M $147.5M
YoY Change -9.76% 83.11% 119.82%

Facts In Submission

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us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
244000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
4000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-15000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-92000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-63000 USD
CY2020Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
59000 USD
CY2019Q3 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
63000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
88000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
181000 USD
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
20706000 USD
CY2019Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
14700000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
31808000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
39966000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
697432000 USD
CY2020Q3 us-gaap Profit Loss
ProfitLoss
19404000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1361000 USD
CY2020Q3 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
0 USD
CY2020Q3 us-gaap Dividends Common Stock
DividendsCommonStock
22225000 USD
CY2020Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
868000 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
758151000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
726741000 USD
us-gaap Profit Loss
ProfitLoss
57260000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-25364000 USD
us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
813000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
65201000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-71000 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
758151000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
682671000 USD
CY2019Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
802000 USD
CY2019Q3 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
0 USD
CY2019Q3 us-gaap Dividends Common Stock
DividendsCommonStock
19725000 USD
CY2019Q3 us-gaap Profit Loss
ProfitLoss
18409000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-3646000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
698964000 USD
us-gaap Profit Loss
ProfitLoss
53946000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-13799000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
678511000 USD
us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
3167000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
59175000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
90000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
678511000 USD
us-gaap Profit Loss
ProfitLoss
57260000 USD
us-gaap Profit Loss
ProfitLoss
53946000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
21670000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
19532000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 USD
fcpt Non Cash Revenue Adjustments
NonCashRevenueAdjustments
799000 USD
fcpt Non Cash Revenue Adjustments
NonCashRevenueAdjustments
49000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1589000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1539000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2496000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2792000 USD
us-gaap Increase Decrease In Derivative Assets
IncreaseDecreaseInDerivativeAssets
8049000 USD
us-gaap Increase Decrease In Derivative Assets
IncreaseDecreaseInDerivativeAssets
5000 USD
fcpt Increase Decreasein Straight Line Rent Adjustment
IncreaseDecreaseinStraightLineRentAdjustment
6519000 USD
fcpt Increase Decreasein Straight Line Rent Adjustment
IncreaseDecreaseinStraightLineRentAdjustment
7008000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-628000 USD
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
7222000 USD
fcpt Lessor Payments Of Lease Incentives To Tenants
LessorPaymentsOfLeaseIncentivesToTenants
4167000 USD
fcpt Lessor Payments Of Lease Incentives To Tenants
LessorPaymentsOfLeaseIncentivesToTenants
0 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-945000 USD
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-3229000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
65396000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
81296000 USD
us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
123466000 USD
us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
81136000 USD
us-gaap Proceeds From Deposits On Real Estate Sales
ProceedsFromDepositsOnRealEstateSales
1060000 USD
us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
282000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-122406000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-81418000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
65599000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1652000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
125000000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
0 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1194000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
158500000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
210500000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
64166000 USD
us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
58847000 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
197000 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
267000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
813000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
3167000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2567000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2702000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
69662000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-63331000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
12652000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-63453000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5083000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
93242000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17735000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29789000 USD
us-gaap Interest Paid Net
InterestPaidNet
13861000 USD
us-gaap Interest Paid Net
InterestPaidNet
14075000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
532000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
548000 USD
us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
104212000 USD
us-gaap Proceeds From Lease Payments
ProceedsFromLeasePayments
96113000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
490000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
312000 USD
CY2020Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
22163000 USD
CY2019Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
19641000 USD
us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
-17315000 USD
us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
-13794000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:138%;padding-bottom:8px;padding-top:12px;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:none;">Use of Estimates</span></div><div style="line-height:138%;padding-bottom:8px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;color:#000000;">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></div>
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 USD
fcpt Assets Held For Sale Disposal Period
AssetsHeldForSaleDisposalPeriod
P1Y
CY2020Q3 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
0 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17735000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5083000 USD
CY2020Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
0 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
0 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17735000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5083000 USD
us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
<div style="line-height:138%;padding-bottom:8px;padding-top:12px;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:none;">Derivative Instruments and Hedging Activities</span></div><div style="line-height:138%;padding-bottom:8px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;color:#000000;">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></div><div style="line-height:138%;padding-bottom:8px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;color:#000000;">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></div>
CY2020Q2 fcpt Rent Deferrals Agreed Amount Of Contractual Base Rent
RentDeferralsAgreedAmountOfContractualBaseRent
1000000.0 USD
CY2020Q2 fcpt Lessor Rental Revenue With Rent Abatements Under Lease Amendments
LessorRentalRevenueWithRentAbatementsUnderLeaseAmendments
1600000 USD
CY2020Q3 fcpt Lessor Rental Revenue With Rent Abatements Under Lease Amendments
LessorRentalRevenueWithRentAbatementsUnderLeaseAmendments
0 USD
us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<div style="line-height:138%;padding-bottom:8px;padding-top:12px;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:bold;text-decoration:none;">Revenue Recognition</span></div><div style="line-height:138%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:italic;font-weight:normal;text-decoration:none;">Rental Revenue</span></div><div style="line-height:138%;padding-bottom:8px;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;color:#000000;">For those net leases that provide for periodic and determinable increases in base rent, base rental revenue is recognized on a straight-line basis over the applicable lease term when collectability is probable. Recognizing rental revenue on a straight-line basis generally results in recognized revenues during the first half of a lease term exceeding the cash amounts contractually due from our tenants, creating a deferred rent receivable. </span></div><div style="line-height:138%;padding-bottom:8px;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;color:#000000;">In certain circumstances, the Company may offer tenant allowance funds in exchange for increasing rent, extending the term, and including annual sales reporting among other items. These tenant allowance funds are classified as lease incentives upon payment </span><span style="font-family:Times New Roman;font-size:10pt;color:#000000;">and are amortized as a reduction to revenue over the lease term. Lease incentives are included in Intangible lease assets, net, on our Consolidated Balance Sheets. During the three and nine months ended September 30, 2020, the Company paid lease incentives of </span><span style="font-family:Times New Roman;font-size:10pt;color:#000000;"><span>$4.2 million</span></span><span style="font-family:Times New Roman;font-size:10pt;color:#000000;"> to tenants.</span></div><div style="line-height:138%;padding-bottom:8px;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;color:#000000;">We assess the collectability of our lease receivables, including deferred rents receivable, on several factors, including payment history, the financial strength of the tenant and any guarantors, historical operations and operating trends of the property, and current economic conditions. If our evaluation of these factors indicates it is not probable that we will be to recover substantially all of the receivable, we derecognize the deferred rent receivable asset and record as a reduction in rental revenue. If we determine </span></div><div style="line-height:138%;padding-bottom:8px;padding-top:8px;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;color:#000000;">the lease receivable will not be collected due to a credit concern, we reduce the recorded revenue for the period and related accounts receivable. </span></div><div style="line-height:138%;padding-bottom:8px;padding-top:8px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;color:#000000;">For those leases that provide for periodic increases in base rent only if certain revenue parameters or other substantive contingencies are met, the increased rental revenue is recognized as the related parameters or contingencies are met, rather than on a straight-line basis over the applicable lease term. Prior to the adoption of ASC 842, lessor costs reimbursed by the lessee were presented on a net basis in our Consolidated Financial Statements. Subsequent to the adoption of ASC 842 on January 1, 2019, costs paid by the lessor and reimbursed by the lessees are included in variable lease payments and presented on a gross basis within rental revenue. Sales taxes collected from lessees and remitted to governmental authorities are presented on a net basis within rental revenue.</span></div><div style="line-height:138%;padding-bottom:8px;text-align:justify;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:italic;font-weight:normal;text-decoration:none;">Restaurant Revenue</span></div>Restaurant revenue represents food, beverage, and other products sold and is presented net of the following discounts: coupons, employee meals, complimentary meals and gift cards. Revenue from restaurant sales, whether received in cash or by credit card, is recognized when food and beverage products are sold.We recognize sales from our gift cards when the gift card is redeemed by the customer. Sales taxes collected from customers and remitted to governmental authorities are presented on a net basis within restaurant revenue on our Consolidated Income Statements.
CY2020Q3 fcpt Lessor Payments Of Lease Incentives To Tenants
LessorPaymentsOfLeaseIncentivesToTenants
4200000 USD
CY2020Q3 us-gaap Credit Card Receivables
CreditCardReceivables
45000 USD
CY2019Q4 us-gaap Credit Card Receivables
CreditCardReceivables
81000 USD
CY2019Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
1142275000 USD
CY2020Q3 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
46 state
CY2020Q3 us-gaap Land And Land Improvements
LandAndLandImprovements
764439000 USD
CY2019Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
690575000 USD
CY2020Q3 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
1171749000 USD
CY2020Q3 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
134976000 USD
CY2019Q4 us-gaap Fixtures And Equipment Gross
FixturesAndEquipmentGross
134884000 USD
CY2020Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2071164000 USD
CY2019Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1967734000 USD
CY2020Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
652849000 USD
CY2019Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
635630000 USD
CY2020Q3 us-gaap Real Estate Investments
RealEstateInvestments
1418315000 USD
CY2019Q4 us-gaap Real Estate Investments
RealEstateInvestments
1332104000 USD
CY2020Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
79459000 USD
CY2019Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
57917000 USD
CY2020Q3 fcpt Real Estate Investment Property And Intangible Asset Net
RealEstateInvestmentPropertyAndIntangibleAssetNet
1497774000 USD
CY2019Q4 fcpt Real Estate Investment Property And Intangible Asset Net
RealEstateInvestmentPropertyAndIntangibleAssetNet
1390021000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
121400000 USD
CY2020Q3 us-gaap Number Of Restaurants
NumberOfRestaurants
52 property
CY2020Q3 fcpt Real Estate Investments Number Of States With Properties
RealEstateInvestmentsNumberOfStatesWithProperties
20 state
us-gaap Payments To Acquire Land
PaymentsToAcquireLand
65600000 USD
fcpt Paymentsto Acquire Buildingsand Improvements
PaymentstoAcquireBuildingsandImprovements
29500000 USD
us-gaap Payments To Acquire Machinery And Equipment
PaymentsToAcquireMachineryAndEquipment
100000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
25900000 USD
fcpt Real Estate Investments Contingent Consideration
RealEstateInvestmentsContingentConsideration
0 USD
CY2020Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P7Y6M
CY2020Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
0 property
CY2020Q3 us-gaap Number Of Properties Subject To Ground Leases
NumberOfPropertiesSubjectToGroundLeases
3 property
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
81100000 USD
CY2019Q3 us-gaap Number Of Restaurants
NumberOfRestaurants
40 restaurant
CY2019Q3 fcpt Real Estate Investments Number Of States With Properties
RealEstateInvestmentsNumberOfStatesWithProperties
18 state
us-gaap Payments To Acquire Land
PaymentsToAcquireLand
39500000 USD
fcpt Paymentsto Acquire Buildingsand Improvements
PaymentstoAcquireBuildingsandImprovements
22600000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
19000000.0 USD
CY2019Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
0 property
CY2020Q3 fcpt Intangible Assets And Finance Lease Right Of Use Asset Before Accumulated Amortization
IntangibleAssetsAndFinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
89737000 USD
CY2020Q3 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
15729000 USD
CY2019Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
16063000 USD
CY2019Q4 fcpt Intangible Assets And Finance Lease Right Of Use Asset Before Accumulated Amortization
IntangibleAssetsAndFinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
62661000 USD
CY2020Q3 us-gaap Lease Incentive Receivable
LeaseIncentiveReceivable
5774000 USD
CY2019Q4 us-gaap Lease Incentive Receivable
LeaseIncentiveReceivable
0 USD
CY2020Q3 fcpt Intangible Assets And Finance Lease Right Of Use Asset Accumulated Amortization
IntangibleAssetsAndFinanceLeaseRightOfUseAssetAccumulatedAmortization
10278000 USD
CY2019Q4 fcpt Intangible Assets And Finance Lease Right Of Use Asset Accumulated Amortization
IntangibleAssetsAndFinanceLeaseRightOfUseAssetAccumulatedAmortization
4744000 USD
CY2020Q3 fcpt Intangible Assets And Finance Lease Right Of Use Asset After Accumulated Amortization
IntangibleAssetsAndFinanceLeaseRightOfUseAssetAfterAccumulatedAmortization
79459000 USD
CY2019Q4 fcpt Intangible Assets And Finance Lease Right Of Use Asset After Accumulated Amortization
IntangibleAssetsAndFinanceLeaseRightOfUseAssetAfterAccumulatedAmortization
57917000 USD
CY2020Q3 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
2978000 USD
CY2019Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
1923000 USD
CY2020Q3 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
495000 USD
CY2019Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
155000 USD
CY2020Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
2483000 USD
CY2019Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
1768000 USD
fcpt Intangible Lease Assets And Liabilities Weighted Average Amortization Period
IntangibleLeaseAssetsAndLiabilitiesWeightedAverageAmortizationPeriod
P10Y
fcpt Above Market Leases Amortization Period
AboveMarketLeasesAmortizationPeriod
P8Y2M12D
fcpt Below Market Leases Amortization Period
BelowMarketLeasesAmortizationPeriod
P9Y8M12D
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
2251000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
8637000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
8084000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
6486000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
5605000 USD
CY2020Q3 fcpt Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
24462000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
55525000 USD
fcpt Number Of Ground Leases
NumberOfGroundLeases
2 ground_lease
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
162000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
673000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
693000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
705000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
718000 USD
CY2020Q3 fcpt Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
5851000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
8802000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2642000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
6160000 USD
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0407
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P17Y1M6D
CY2020Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
222000 USD
CY2019Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
166000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
542000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
500000 USD
CY2020Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
38271000 USD
CY2019Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
34993000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
112899000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
103252000 USD
CY2020Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
600000 USD
CY2019Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
216000 USD
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
1732000 USD
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
580000 USD
CY2020Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
38871000 USD
CY2019Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
35209000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
114631000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
103832000 USD
CY2020Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
37249000 USD
CY2020Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
149953000 USD
CY2020Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
151380000 USD
CY2020Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
151680000 USD
CY2020Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
152163000 USD
CY2020Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1721513000 USD
CY2020Q3 fcpt Lessor Operating Lease Payments To Be Received After Four Years
LessorOperatingLeasePaymentsToBeReceivedAfterFourYears
1079088000 USD
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5515000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3810000 USD
CY2020Q3 fcpt Prepaid Acquisition Expense
PrepaidAcquisitionExpense
3018000 USD
CY2019Q4 fcpt Prepaid Acquisition Expense
PrepaidAcquisitionExpense
4219000 USD
CY2020Q3 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
473000 USD
CY2019Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
845000 USD
CY2020Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
1860000 USD
CY2019Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
380000 USD
CY2020Q3 us-gaap Inventory Net
InventoryNet
126000 USD
CY2019Q4 us-gaap Inventory Net
InventoryNet
196000 USD
CY2020Q3 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
1202000 USD
CY2019Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
715000 USD
CY2020Q3 us-gaap Other Assets
OtherAssets
12194000 USD
CY2019Q4 us-gaap Other Assets
OtherAssets
10165000 USD
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6160000 USD
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4403000 USD
CY2020Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
5566000 USD
CY2019Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
1572000 USD
CY2020Q3 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
1628000 USD
CY2019Q4 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
1913000 USD
CY2020Q3 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
367000 USD
CY2019Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
799000 USD
CY2020Q3 fcpt Intangible Lease Liabilities Net
IntangibleLeaseLiabilitiesNet
2483000 USD
CY2019Q4 fcpt Intangible Lease Liabilities Net
IntangibleLeaseLiabilitiesNet
1768000 USD
CY2020Q3 fcpt Accrued Operating Expenses
AccruedOperatingExpenses
249000 USD
CY2019Q4 fcpt Accrued Operating Expenses
AccruedOperatingExpenses
396000 USD
CY2020Q3 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
2765000 USD
CY2019Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
1745000 USD
CY2020Q3 us-gaap Other Liabilities
OtherLiabilities
19218000 USD
CY2019Q4 us-gaap Other Liabilities
OtherLiabilities
12596000 USD
CY2020Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6700000 USD
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
7100000 USD
CY2020Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
543000 USD
CY2019Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
512000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1600000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1500000 USD
CY2020Q3 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0145
CY2019Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0301
fcpt Derivate Instrument Cash Flow Hedges Terminated
DerivateInstrumentCashFlowHedgesTerminated
2 hedge
CY2020Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-8400000 USD
CY2020Q1 fcpt Derivative Termination Amortization Period
DerivativeTerminationAmortizationPeriod
P10Y
CY2020Q2 us-gaap Derivative Number Of Instruments Held
DerivativeNumberOfInstrumentsHeld
2 swap
us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimated Net Amount To Be Transferred
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred
-6800000 USD
CY2020Q3 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
20900000 USD
CY2019Q4 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
3600000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
67000 USD
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
69000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
192000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
198000 USD
CY2020Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2020Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2020Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
72769345 shares
CY2020Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.3050
CY2020Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.3050
CY2020Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.3050
CY2020Q3 us-gaap Units Of Partnership Interest Amount
UnitsOfPartnershipInterestAmount
204392 shares
CY2020Q3 us-gaap Redeemable Noncontrolling Interest Equity Redemption Value
RedeemableNoncontrollingInterestEquityRedemptionValue
5200000 USD
CY2019Q4 us-gaap Redeemable Noncontrolling Interest Equity Redemption Value
RedeemableNoncontrollingInterestEquityRedemptionValue
7900000 USD
CY2020Q3 us-gaap Units Of Partnership Interest Amount
UnitsOfPartnershipInterestAmount
204392 shares
us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
197000 USD
CY2020Q3 fcpt Redeemable Noncontrolling Interest Equity Redemptions Settled Units
RedeemableNoncontrollingInterestEquityRedemptionsSettledUnits
85000 shares
fcpt Redeemable Noncontrolling Interest Equity Redemptions Settled Units For Cash
RedeemableNoncontrollingInterestEquityRedemptionsSettledUnitsForCash
40000 shares
fcpt Redeemable Noncontrolling Interest Equity Redemptions Settled Units Weighted Average Price
RedeemableNoncontrollingInterestEquityRedemptionsSettledUnitsWeightedAveragePrice
20.30
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
813000 USD
CY2020Q3 fcpt Redeemable Noncontrolling Interest Equity Redemptions Settled Common Stock
RedeemableNoncontrollingInterestEquityRedemptionsSettledCommonStock
45000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
71009154 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68315915 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
70430037 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68274167 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
221327 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
211272 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
228463 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
220846 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
71230481 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68527187 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
70658500 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68495013 shares
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
19349000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
18331000 USD
us-gaap Net Income Loss
NetIncomeLoss
57080000 USD
us-gaap Net Income Loss
NetIncomeLoss
53702000 USD
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.27
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.27
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.81
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.79
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.27
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.27
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.81
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.78
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
216773 shares
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
146335 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
209637 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
142558 shares
CY2020Q3 fcpt Weighted Average Unitsof Partnership Interest Amount
WeightedAverageUnitsofPartnershipInterestAmount
204392 shares
CY2019Q3 fcpt Weighted Average Unitsof Partnership Interest Amount
WeightedAverageUnitsofPartnershipInterestAmount
294506 shares
fcpt Weighted Average Unitsof Partnership Interest Amount
WeightedAverageUnitsofPartnershipInterestAmount
221355 shares
fcpt Weighted Average Unitsof Partnership Interest Amount
WeightedAverageUnitsofPartnershipInterestAmount
310599 shares
CY2015Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
2100000 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
1014968 shares
CY2020Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
5400000 USD
CY2019Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
3123000 USD
fcpt Employee Service Sharebased Compensation Nonvested Awards Compensation Notyet Recognized Sharebased Awards Otherthan Options Grantsin Period
EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationNotyetRecognizedSharebasedAwardsOtherthanOptionsGrantsinPeriod
4829000 USD
fcpt Employee Service Sharebased Compensation Nonvested Awards Compensation Notyet Recognized Sharebased Awards Otherthan Options Forfeitedin Period
EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationNotyetRecognizedSharebasedAwardsOtherthanOptionsForfeitedinPeriod
75000 USD
fcpt Employee Service Sharebased Compensation Nonvested Awards Compensation Notyet Recognized Sharebased Awards Otherthan Options Compensation Expensein Period
EmployeeServiceSharebasedCompensationNonvestedAwardsCompensationNotyetRecognizedSharebasedAwardsOtherthanOptionsCompensationExpenseinPeriod
2497000 USD
CY2020Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
5380000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M12D
CY2020Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
20923000 USD
CY2020Q3 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2020Q3 us-gaap Lease Income
LeaseIncome
38871000 USD
CY2020Q3 us-gaap Revenues
Revenues
42968000 USD
CY2020Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3741000 USD
CY2020Q3 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
7523000 USD
CY2020Q3 us-gaap Operating Expenses
OperatingExpenses
16089000 USD
CY2020Q3 us-gaap Interest Expense
InterestExpense
7410000 USD
CY2020Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
2000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
67000 USD
CY2020Q3 us-gaap Profit Loss
ProfitLoss
19404000 USD
CY2019Q3 us-gaap Lease Income
LeaseIncome
35209000 USD
CY2019Q3 us-gaap Revenues
Revenues
40183000 USD
CY2019Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3389000 USD
CY2019Q3 us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
6653000 USD
CY2019Q3 us-gaap Operating Expenses
OperatingExpenses
15193000 USD
CY2019Q3 us-gaap Interest Expense
InterestExpense
6665000 USD
CY2019Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
153000 USD
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
69000 USD
CY2019Q3 us-gaap Profit Loss
ProfitLoss
18409000 USD
us-gaap Lease Income
LeaseIncome
114631000 USD
us-gaap Revenues
Revenues
126327000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
11303000 USD
us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
21670000 USD
us-gaap Operating Expenses
OperatingExpenses
47311000 USD
us-gaap Interest Expense
InterestExpense
21732000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
168000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
192000 USD
us-gaap Profit Loss
ProfitLoss
57260000 USD
us-gaap Lease Income
LeaseIncome
103832000 USD
us-gaap Revenues
Revenues
119352000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10766000 USD
us-gaap Cost Of Goods And Services Sold Depreciation And Amortization
CostOfGoodsAndServicesSoldDepreciationAndAmortization
19532000 USD
us-gaap Operating Expenses
OperatingExpenses
46111000 USD
us-gaap Interest Expense
InterestExpense
19969000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
872000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
198000 USD
us-gaap Profit Loss
ProfitLoss
53946000 USD
CY2020Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2071164000 USD
CY2020Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
652849000 USD
CY2020Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1418315000 USD
CY2020Q3 us-gaap Cash
Cash
17735000 USD
CY2020Q3 us-gaap Assets
Assets
1573625000 USD
CY2020Q3 us-gaap Notes Payable
NotesPayable
743335000 USD
CY2019Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
1967734000 USD
CY2019Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
635630000 USD
CY2019Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1332104000 USD
CY2019Q4 us-gaap Cash
Cash
5083000 USD
CY2019Q4 us-gaap Assets
Assets
1446070000 USD
CY2019Q4 us-gaap Notes Payable
NotesPayable
669940000 USD

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