$FCPT
Four Corners Property Trust, Inc.

2023 Q3 Form 10-Q Financial Statement

#000165013223000115 Filed on August 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $64.84M $60.69M
YoY Change 15.77% 9.5%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $15.64M $15.47M
YoY Change 14.11% 12.64%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $13.40M $11.82M
YoY Change 26.56% 16.68%
% of Gross Profit
Operating Expenses $29.06M $27.29M
YoY Change 19.62% 14.35%
Operating Profit
YoY Change
Interest Expense $12.28M -$10.05M
YoY Change 33.77% -211.29%
% of Operating Profit
Other Income/Expense, Net $280.0K $226.0K
YoY Change 70.73% 679.31%
Pretax Income $24.10M $23.75M
YoY Change -1.75% -16.13%
Income Tax -$89.00K $91.00K
% Of Pretax Income -0.37% 0.38%
Net Earnings $24.16M $23.63M
YoY Change -1.46% -16.01%
Net Earnings / Revenue 37.26% 38.93%
Basic Earnings Per Share $0.27 $0.27
Diluted Earnings Per Share $0.27 $0.27
COMMON SHARES
Basic Shares Outstanding 90.57M shares 87.03M shares
Diluted Shares Outstanding 90.60M shares 87.56M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.700M $11.20M
YoY Change -84.46% -36.79%
Cash & Equivalents $5.675M $11.20M
Short-Term Investments
Other Short-Term Assets $1.300M $1.286M
YoY Change 9.8% 23.77%
Inventory $233.0K $247.0K
Prepaid Expenses
Receivables $2.400M $2.287M
Other Receivables $0.00 $0.00
Total Short-Term Assets $9.600M $15.02M
YoY Change -75.91% -26.98%
LONG-TERM ASSETS
Property, Plant & Equipment $2.211B $2.112B
YoY Change 19.72% 17.56%
Goodwill
YoY Change
Intangibles $122.1M $114.3M
YoY Change 14.2% 8.53%
Long-Term Investments
YoY Change
Other Assets $80.70M $67.68M
YoY Change 32.75% -0.75%
Total Long-Term Assets $2.446B $2.323B
YoY Change 18.75% 16.72%
TOTAL ASSETS
Total Short-Term Assets $9.600M $15.02M
Total Long-Term Assets $2.446B $2.323B
Total Assets $2.456B $2.338B
YoY Change 16.95% 16.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $600.0K $530.0K
YoY Change 93.55% 119.92%
Accrued Expenses $19.60M $13.57M
YoY Change 35.72% 28.82%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $72.40M $67.60M
YoY Change 22.71% 40.14%
LONG-TERM LIABILITIES
Long-Term Debt $1.126B $1.012B
YoY Change 16.45% 4.67%
Other Long-Term Liabilities $3.800M $3.631M
YoY Change -84.68% -18.13%
Total Long-Term Liabilities $1.130B $1.015B
YoY Change 13.93% 4.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $72.40M $67.60M
Total Long-Term Liabilities $1.130B $1.015B
Total Liabilities $1.202B $1.085B
YoY Change 16.59% 6.46%
SHAREHOLDERS EQUITY
Retained Earnings -$19.17M -$12.60M
YoY Change -383.05% -229.38%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.251B $1.253B
YoY Change
Total Liabilities & Shareholders Equity $2.456B $2.338B
YoY Change 16.95% 16.28%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $24.16M $23.63M
YoY Change -1.46% -16.01%
Depreciation, Depletion And Amortization $13.40M $11.82M
YoY Change 26.56% 16.68%
Cash From Operating Activities $43.10M $47.64M
YoY Change -2.26% 56.81%
INVESTING ACTIVITIES
Capital Expenditures $133.5M $174.1M
YoY Change -284.32% -410.11%
Acquisitions
YoY Change
Other Investing Activities $12.40M $1.226M
YoY Change 50.3% -89.49%
Cash From Investing Activities -$121.1M -$172.9M
YoY Change 88.7% 288.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 83.10M 105.0M
YoY Change 136.51% -568.99%
NET CHANGE
Cash From Operating Activities 43.10M 47.64M
Cash From Investing Activities -121.1M -172.9M
Cash From Financing Activities 83.10M 105.0M
Net Change In Cash 5.100M -20.20M
YoY Change -66.12% -44.64%
FREE CASH FLOW
Cash From Operating Activities $43.10M $47.64M
Capital Expenditures $133.5M $174.1M
Free Cash Flow -$90.40M -$126.5M
YoY Change -177.58% -246.16%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Prior Period Reclassification Adjustment Description
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<div style="margin-bottom:6pt;margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:138%">Reclassifications</span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:138%">Certain amounts previously reported under specific financial statement captions have been reclassified to be consistent with the current period presentation. As of June 30, 2023, we have conformed the prior presentation of the Long-term debt, net of deferred financing costs to the current format for comparability purposes.</span></div>
us-gaap Use Of Estimates
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<div style="margin-bottom:6pt;margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:138%">Use of Estimates</span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:138%">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 </span></div>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.
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<div style="margin-bottom:6pt;margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:138%">Derivative Instruments and Hedging Activities</span></div><div style="margin-bottom:6pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:138%">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="margin-bottom:6pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:138%">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>
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BelowMarketLeaseNet
1323000 usd
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
1452000 usd
fcpt Intangible Lease Assets And Liabilities Weighted Average Amortization Period
IntangibleLeaseAssetsAndLiabilitiesWeightedAverageAmortizationPeriod
P8Y4M24D
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
4773000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
3317000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
8747000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
16152000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
13835000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
12060000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
9692000 usd
CY2023Q2 fcpt Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
32425000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
92911000 usd
fcpt Number Of Ground Leases
NumberOfGroundLeases
2 groundlease
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
355000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
718000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
470000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
310000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
319000 usd
CY2023Q2 fcpt Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
4753000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
6925000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2029000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4896000 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0428
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P15Y10M24D
us-gaap Operating Lease Expense
OperatingLeaseExpense
457000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
453000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
100267000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
91490000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
105040000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
94807000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
103914000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
208905000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
207401000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
205748000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
197622000 usd
CY2023Q2 fcpt Lessor Operating Lease Payments To Be Received After Four Years
LessorOperatingLeasePaymentsToBeReceivedAfterFourYears
914913000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1838503000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
50000000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
150000000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
150000000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
165000000 usd
CY2023Q2 fcpt Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
490000000 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
1005000000 usd
us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimated Net Amount To Be Transferred
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred
11400000 usd
CY2023Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
2287000 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
2661000 usd
CY2023Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
1286000 usd
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
1300000 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
10051000 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
9031000 usd
us-gaap Interest Expense
InterestExpense
19969000 usd
us-gaap Interest Expense
InterestExpense
17406000 usd
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
27668000 usd
CY2023Q2 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
0 usd
CY2023Q2 us-gaap Derivative Assets
DerivativeAssets
27668000 usd
CY2023Q2 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
0 usd
CY2023Q2 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0 usd
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
27668000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
35276000 usd
CY2022Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
0 usd
CY2022Q4 us-gaap Derivative Assets
DerivativeAssets
35276000 usd
CY2022Q4 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
9000 usd
CY2022Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
35267000 usd
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
0 usd
CY2023Q2 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
0 usd
CY2023Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
0 usd
CY2023Q2 us-gaap Derivative Collateral Right To Reclaim Securities
DerivativeCollateralRightToReclaimSecurities
0 usd
CY2023Q2 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0 usd
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
0 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
9000 usd
CY2022Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
0 usd
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
9000 usd
CY2022Q4 us-gaap Derivative Collateral Right To Reclaim Securities
DerivativeCollateralRightToReclaimSecurities
9000 usd
CY2022Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
0 usd
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
27700000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
35300000 usd
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
27700000 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4177000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4428000 usd
CY2023Q2 fcpt Prepaid Acquisition Expense
PrepaidAcquisitionExpense
3754000 usd
CY2022Q4 fcpt Prepaid Acquisition Expense
PrepaidAcquisitionExpense
2079000 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
247000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
274000 usd
CY2023Q2 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
1697000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
1530000 usd
CY2023Q2 us-gaap Other Assets
OtherAssets
13448000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
12272000 usd
CY2023Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
4063000 usd
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
3845000 usd
CY2023Q2 fcpt Tenant Improvements Payable And Deposits
TenantImprovementsPayableAndDeposits
9544000 usd
CY2022Q4 fcpt Tenant Improvements Payable And Deposits
TenantImprovementsPayableAndDeposits
5953000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4896000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
5141000 usd
CY2023Q2 fcpt Accrued Tenant Property Tax
AccruedTenantPropertyTax
2402000 usd
CY2022Q4 fcpt Accrued Tenant Property Tax
AccruedTenantPropertyTax
1537000 usd
CY2023Q2 fcpt Intangible Lease Liabilities Net
IntangibleLeaseLiabilitiesNet
1323000 usd
CY2022Q4 fcpt Intangible Lease Liabilities Net
IntangibleLeaseLiabilitiesNet
1452000 usd
CY2023Q2 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
1784000 usd
CY2022Q4 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
2700000 usd
CY2023Q2 fcpt Accrued Operating Expenses
AccruedOperatingExpenses
421000 usd
CY2022Q4 fcpt Accrued Operating Expenses
AccruedOperatingExpenses
257000 usd
CY2023Q2 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
530000 usd
CY2022Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
766000 usd
CY2023Q2 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
2308000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
2366000 usd
CY2023Q2 us-gaap Other Liabilities
OtherLiabilities
27271000 usd
CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
24017000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
91000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
139000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
144000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
232000 usd
CY2023Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-4000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-49000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
61000 usd
CY2022Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
61000 usd
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
90565846 shares
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
90565846 shares
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.3400
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.3400
CY2023Q2 us-gaap Units Of Partnership Interest Amount
UnitsOfPartnershipInterestAmount
114559 shares
CY2023Q2 fcpt Redeemable Noncontrolling Interest Shares Convertible Conversion Ratio
RedeemableNoncontrollingInterestSharesConvertibleConversionRatio
1
CY2023Q2 us-gaap Redeemable Noncontrolling Interest Equity Redemption Value
RedeemableNoncontrollingInterestEquityRedemptionValue
2900000 usd
CY2022Q4 us-gaap Redeemable Noncontrolling Interest Equity Redemption Value
RedeemableNoncontrollingInterestEquityRedemptionValue
3000000 usd
CY2023Q2 us-gaap Units Of Partnership Interest Amount
UnitsOfPartnershipInterestAmount
114559 shares
CY2023Q2 us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
39000 usd
us-gaap Limited Partners Capital Account Distribution Amount
LimitedPartnersCapitalAccountDistributionAmount
78000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87366335 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
80294804 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86604202 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
80245247 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
189676 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
199639 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
220948 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
200920 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
87556011 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
80494443 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86825150 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
80446167 shares
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
23625000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
28130000 usd
us-gaap Net Income Loss
NetIncomeLoss
46749000 usd
us-gaap Net Income Loss
NetIncomeLoss
50385000 usd
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.27
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.54
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.27
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.54
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.63
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
385728 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
299372 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
354456 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
298091 shares
CY2023Q2 fcpt Weighted Average Units Of Partnership Interest Amount
WeightedAverageUnitsOfPartnershipInterestAmount
114559 shares
fcpt Weighted Average Units Of Partnership Interest Amount
WeightedAverageUnitsOfPartnershipInterestAmount
114559 shares
fcpt Weighted Average Units Of Partnership Interest Amount
WeightedAverageUnitsOfPartnershipInterestAmount
114559 shares
CY2022Q2 fcpt Weighted Average Units Of Partnership Interest Amount
WeightedAverageUnitsOfPartnershipInterestAmount
114559 shares
CY2022Q2 fcpt Common Stock Increase Decrease In Capital Shares Reserved For Future Issuance
CommonStockIncreaseDecreaseInCapitalSharesReservedForFutureIssuance
1500000 shares
CY2022Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3600000 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1695561 shares
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
10400000 usd
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
5405000 usd
fcpt Employee Service Share Based Compensation Nonvested Awards Compensation Not Yet Recognized Share Based Awards Other Than Options Grants In Period
EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationNotYetRecognizedShareBasedAwardsOtherThanOptionsGrantsInPeriod
8353000 usd
fcpt Employee Service Share Based Compensation Nonvested Awards Compensation Not Yet Recognized Share Based Awards Other Than Options Forfeited In Period
EmployeeServiceShareBasedCompensationNonvestedAwardsCompensationNotYetRecognizedShareBasedAwardsOtherThanOptionsForfeitedInPeriod
11000 usd
fcpt Employee Service Share Based Compensation Non Vested Awards Compensation Not Yet Recognized Share Based Awards Other Than Options Compensation Expense In Period
EmployeeServiceShareBasedCompensationNonVestedAwardsCompensationNotYetRecognizedShareBasedAwardsOtherThanOptionsCompensationExpenseInPeriod
3326000 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
10421000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M12D
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2023Q2 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2022Q2 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2023Q2 us-gaap Lease Income
LeaseIncome
52843000 usd
CY2023Q2 us-gaap Revenues
Revenues
60688000 usd
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5600000 usd
CY2023Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
11817000 usd
CY2023Q2 us-gaap Operating Expenses
OperatingExpenses
27290000 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
10051000 usd
CY2023Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
226000 usd
CY2023Q2 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
173000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
91000 usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
23655000 usd
CY2022Q2 us-gaap Lease Income
LeaseIncome
47904000 usd
CY2022Q2 us-gaap Revenues
Revenues
55425000 usd
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4698000 usd
CY2022Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
10128000 usd
CY2022Q2 us-gaap Operating Expenses
OperatingExpenses
23865000 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
9031000 usd
CY2022Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
29000 usd
CY2022Q2 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
5756000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
144000 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
28170000 usd
us-gaap Lease Income
LeaseIncome
105040000 usd
us-gaap Revenues
Revenues
120640000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
11655000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
23993000 usd
us-gaap Operating Expenses
OperatingExpenses
55983000 usd
us-gaap Interest Expense
InterestExpense
19969000 usd
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
526000 usd
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
1735000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
139000 usd
us-gaap Profit Loss
ProfitLoss
46810000 usd
us-gaap Lease Income
LeaseIncome
94807000 usd
us-gaap Revenues
Revenues
109822000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
9967000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
19832000 usd
us-gaap Operating Expenses
OperatingExpenses
47570000 usd
us-gaap Interest Expense
InterestExpense
17406000 usd
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
86000 usd
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
5756000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
232000 usd
us-gaap Profit Loss
ProfitLoss
50456000 usd
CY2023Q2 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2829683000 usd
CY2023Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
722241000 usd
CY2023Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2107442000 usd
CY2023Q2 us-gaap Cash
Cash
11197000 usd
CY2023Q2 us-gaap Assets
Assets
2337981000 usd
CY2023Q2 us-gaap Notes Payable
NotesPayable
1011605000 usd
CY2022Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
2655702000 usd
CY2022Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
706702000 usd
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
1949000000 usd
CY2022Q4 us-gaap Cash
Cash
26296000 usd
CY2022Q4 us-gaap Assets
Assets
2198587000 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
995477000 usd
CY2023Q2 fcpt Derivatives Yield
DerivativesYield
0.0539
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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