2019 Q1 Form 10-Q Financial Statement
#000152611319000011 Filed on May 10, 2019
Income Statement
Concept | 2019 Q1 | 2018 Q1 |
---|---|---|
Revenue | $75.47M | $68.09M |
YoY Change | 10.84% | 8.35% |
Cost Of Revenue | $8.043M | $6.831M |
YoY Change | 17.74% | -47.33% |
Gross Profit | $67.43M | $61.26M |
YoY Change | 10.07% | 22.83% |
Gross Profit Margin | 89.34% | 89.97% |
Selling, General & Admin | $5.320M | $1.220M |
YoY Change | 336.07% | -31.84% |
% of Gross Profit | 7.89% | 1.99% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $16.73M | $15.85M |
YoY Change | 5.57% | 10.99% |
% of Gross Profit | 24.82% | 25.88% |
Operating Expenses | $52.28M | $46.26M |
YoY Change | 13.01% | 8.69% |
Operating Profit | $24.08M | $21.82M |
YoY Change | 10.33% | 7.64% |
Interest Expense | $15.16M | $12.98M |
YoY Change | 16.86% | 12.52% |
% of Operating Profit | 62.97% | 59.45% |
Other Income/Expense, Net | -$14.84M | -$15.94M |
YoY Change | -6.9% | 33.75% |
Pretax Income | $9.236M | $5.882M |
YoY Change | 57.02% | -29.61% |
Income Tax | $960.0K | $1.070M |
% Of Pretax Income | 10.39% | 18.19% |
Net Earnings | $8.276M | $4.812M |
YoY Change | 71.99% | -35.23% |
Net Earnings / Revenue | 10.97% | 7.07% |
Basic Earnings Per Share | ||
Diluted Earnings Per Share | $100.0K | $71.48K |
COMMON SHARES | ||
Basic Shares Outstanding | 81.47M shares | 67.29M shares |
Diluted Shares Outstanding | 82.80M shares | 67.29M shares |
Balance Sheet
Concept | 2019 Q1 | 2018 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $95.30M | $106.7M |
YoY Change | -10.68% | 47.38% |
Cash & Equivalents | $95.27M | $106.7M |
Short-Term Investments | ||
Other Short-Term Assets | ||
YoY Change | ||
Inventory | ||
Prepaid Expenses | ||
Receivables | ||
Other Receivables | ||
Total Short-Term Assets | $144.4M | $151.8M |
YoY Change | -4.87% | 38.25% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $2.947B | $2.913B |
YoY Change | 1.17% | 6.95% |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | ||
YoY Change | ||
Other Assets | $123.0M | $10.30M |
YoY Change | 1094.17% | 39.19% |
Total Long-Term Assets | $3.179B | $2.981B |
YoY Change | 6.64% | 6.94% |
TOTAL ASSETS | ||
Total Short-Term Assets | $144.4M | $151.8M |
Total Long-Term Assets | $3.179B | $2.981B |
Total Assets | $3.324B | $3.133B |
YoY Change | 6.08% | 8.13% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $43.50M | $27.30M |
YoY Change | 59.34% | 20.8% |
Accrued Expenses | ||
YoY Change | ||
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $46.70M | $31.40M |
YoY Change | 48.73% | -0.32% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $1.665B | $1.618B |
YoY Change | 2.92% | 11.04% |
Other Long-Term Liabilities | $59.60M | $73.20M |
YoY Change | -18.58% | 17.12% |
Total Long-Term Liabilities | $1.725B | $1.691B |
YoY Change | 1.99% | 11.29% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $46.70M | $31.40M |
Total Long-Term Liabilities | $1.725B | $1.691B |
Total Liabilities | $1.786B | $1.739B |
YoY Change | 2.74% | 10.99% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$654.0M | -$502.0M |
YoY Change | 30.26% | 34.26% |
Common Stock | $2.169M | $2.003M |
YoY Change | 8.29% | 0.65% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $1.532B | $1.394B |
YoY Change | ||
Total Liabilities & Shareholders Equity | $3.324B | $3.133B |
YoY Change | 6.08% | 8.13% |
Cashflow Statement
Concept | 2019 Q1 | 2018 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $8.276M | $4.812M |
YoY Change | 71.99% | -35.23% |
Depreciation, Depletion And Amortization | $16.73M | $15.85M |
YoY Change | 5.57% | 10.99% |
Cash From Operating Activities | $24.75M | $40.68M |
YoY Change | -39.15% | 24.29% |
INVESTING ACTIVITIES | ||
Capital Expenditures | -$34.70M | -$70.50M |
YoY Change | -50.78% | 129.64% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $8.100M | -$600.0K |
YoY Change | -1450.0% | -104.84% |
Cash From Investing Activities | -$26.64M | -$71.02M |
YoY Change | -62.48% | 289.38% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | $150.2M | -$13.00K |
YoY Change | -1155469.23% | |
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | $2.387M | $32.57M |
YoY Change | -92.67% | -312.26% |
NET CHANGE | ||
Cash From Operating Activities | $24.75M | $40.68M |
Cash From Investing Activities | -$26.64M | -$71.02M |
Cash From Financing Activities | $2.387M | $32.57M |
Net Change In Cash | $496.0K | $2.233M |
YoY Change | -77.79% | -361.17% |
FREE CASH FLOW | ||
Cash From Operating Activities | $24.75M | $40.68M |
Capital Expenditures | -$34.70M | -$70.50M |
Free Cash Flow | $59.45M | $111.2M |
YoY Change | -46.53% | 75.28% |
Facts In Submission
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|
0 | USD |
CY2018Q4 | us-gaap |
Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
|
0 | USD |
CY2019Q1 | us-gaap |
Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
|
0 | USD |
CY2018Q4 | us-gaap |
Derivative Fair Value Amount Offset Against Collateral Net
DerivativeFairValueAmountOffsetAgainstCollateralNet
|
4844000 | USD |
CY2019Q1 | us-gaap |
Derivative Fair Value Amount Offset Against Collateral Net
DerivativeFairValueAmountOffsetAgainstCollateralNet
|
946000 | USD |
CY2018Q4 | us-gaap |
Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
|
8730000 | USD |
CY2019Q1 | us-gaap |
Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
|
6854000 | USD |
CY2018Q4 | us-gaap |
Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
|
3886000 | USD |
CY2019Q1 | us-gaap |
Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
|
5908000 | USD |
CY2018Q4 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
3886000 | USD |
CY2019Q1 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
5908000 | USD |
CY2018Q1 | us-gaap |
Derivative Net Hedge Ineffectiveness Gain Loss
DerivativeNetHedgeIneffectivenessGainLoss
|
-43000 | USD |
CY2019Q1 | us-gaap |
Derivative Net Hedge Ineffectiveness Gain Loss
DerivativeNetHedgeIneffectivenessGainLoss
|
76000 | USD |
CY2019Q1 | us-gaap |
Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
|
6700000 | USD |
CY2018Q4 | us-gaap |
Development In Process
DevelopmentInProcess
|
1235000 | USD |
CY2019Q1 | us-gaap |
Development In Process
DevelopmentInProcess
|
12495000 | USD |
CY2018Q1 | us-gaap |
Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
|
-184000 | USD |
CY2019Q1 | us-gaap |
Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
|
-160000 | USD |
CY2018Q1 | us-gaap |
Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
|
7470000 | USD |
CY2019Q1 | us-gaap |
Direct Costs Of Leased And Rented Property Or Equipment
DirectCostsOfLeasedAndRentedPropertyOrEquipment
|
7359000 | USD |
CY2018Q1 | us-gaap |
Dividends Common Stock
DividendsCommonStock
|
35833000 | USD |
CY2019Q1 | us-gaap |
Dividends Common Stock
DividendsCommonStock
|
43297000 | USD |
CY2018Q4 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
2664000 | USD |
CY2019Q1 | us-gaap |
Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
|
2721000 | USD |
CY2018Q1 | us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
2451000 | USD |
CY2019Q1 | us-gaap |
Dividends Preferred Stock
DividendsPreferredStock
|
2485000 | USD |
CY2018Q4 | us-gaap |
Due From Affiliates
DueFromAffiliates
|
16000 | USD |
CY2019Q1 | us-gaap |
Due From Affiliates
DueFromAffiliates
|
20000 | USD |
CY2018Q4 | us-gaap |
Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
|
790000 | USD |
CY2019Q1 | us-gaap |
Due To Affiliate Current And Noncurrent
DueToAffiliateCurrentAndNoncurrent
|
472000 | USD |
CY2018Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.03 | |
CY2019Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
0.07 | |
CY2018Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-537000 | USD |
CY2019Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-5554000 | USD |
CY2018Q4 | us-gaap |
Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
|
675551000 | USD |
CY2019Q1 | us-gaap |
Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
|
647678000 | USD |
CY2018Q4 | us-gaap |
Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
|
1.14 | |
CY2018Q4 | us-gaap |
Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
|
1.14 | |
CY2018Q4 | us-gaap |
Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
|
1.27 | |
CY2018Q4 | us-gaap |
Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
|
1.27 | |
CY2019Q1 | us-gaap |
Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
|
1.30 | |
CY2019Q1 | us-gaap |
Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
|
1.12 | |
CY2018Q1 | us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
-2935000 | USD |
CY2019Q1 | us-gaap |
Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
|
240000 | USD |
CY2018Q1 | us-gaap |
Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
|
0 | USD |
CY2019Q1 | us-gaap |
Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
|
892000 | USD |
CY2018Q1 | us-gaap |
Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
|
0 | USD |
CY2019Q1 | us-gaap |
Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
|
892000 | USD |
CY2018Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2051000 | USD |
CY2019Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
3206000 | USD |
CY2018Q1 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
0 | USD |
CY2019Q1 | us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
0 | USD |
CY2018Q4 | us-gaap |
Incentive To Lessee
IncentiveToLessee
|
47183000 | USD |
CY2019Q1 | us-gaap |
Incentive To Lessee
IncentiveToLessee
|
49089000 | USD |
CY2018Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
5882000 | USD |
CY2019Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
9236000 | USD |
CY2018Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
1070000 | USD |
CY2019Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
960000 | USD |
CY2018Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
2597000 | USD |
CY2019Q1 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
3140000 | USD |
CY2018Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
4034000 | USD |
CY2019Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-12396000 | USD |
CY2018Q1 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-1527000 | USD |
CY2019Q1 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-2180000 | USD |
CY2018Q1 | us-gaap |
Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
|
2954000 | USD |
CY2019Q1 | us-gaap |
Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
|
4593000 | USD |
CY2018Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
1493000 | USD |
CY2019Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
6230000 | USD |
CY2018Q1 | us-gaap |
Insurance Recoveries
InsuranceRecoveries
|
79000 | USD |
CY2019Q1 | us-gaap |
Insurance Recoveries
InsuranceRecoveries
|
0 | USD |
CY2018Q4 | us-gaap |
Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
|
22180000 | USD |
CY2019Q1 | us-gaap |
Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
|
21925000 | USD |
CY2018Q1 | us-gaap |
Interest Expense
InterestExpense
|
12975000 | USD |
CY2019Q1 | us-gaap |
Interest Expense
InterestExpense
|
15162000 | USD |
CY2018Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
11528000 | USD |
CY2019Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
15535000 | USD |
CY2018Q4 | us-gaap |
Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
|
2345202000 | USD |
CY2019Q1 | us-gaap |
Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
|
2353473000 | USD |
CY2018Q4 | us-gaap |
Land
Land
|
398911000 | USD |
CY2019Q1 | us-gaap |
Land
Land
|
400559000 | USD |
CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
46114000 | USD |
CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
1344000 | USD |
CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
1344000 | USD |
CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
1344000 | USD |
CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
1344000 | USD |
CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
1008000 | USD |
CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
22397000 | USD |
CY2019Q1 | us-gaap |
Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
|
2158865000 | USD |
CY2019Q1 | us-gaap |
Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
|
248870000 | USD |
CY2019Q1 | us-gaap |
Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
|
272251000 | USD |
CY2019Q1 | us-gaap |
Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
|
207860000 | USD |
CY2019Q1 | us-gaap |
Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
|
663302000 | USD |
CY2019Q1 | us-gaap |
Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
|
281327000 | USD |
CY2019Q1 | us-gaap |
Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
|
280334000 | USD |
CY2018Q4 | us-gaap |
Liabilities
Liabilities
|
1880732000 | USD |
CY2019Q1 | us-gaap |
Liabilities
Liabilities
|
1786199000 | USD |
CY2018Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
3309478000 | USD |
CY2019Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
3323761000 | USD |
CY2018Q4 | us-gaap |
Line Of Credit
LineOfCredit
|
363894000 | USD |
CY2019Q1 | us-gaap |
Line Of Credit
LineOfCredit
|
260409000 | USD |
CY2018Q1 | us-gaap |
Loss On Discontinuation Of Cash Flow Hedge Due To Forecasted Transaction Probable Of Not Occurring
LossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurring
|
23030 | USD |
CY2019Q1 | us-gaap |
Loss On Discontinuation Of Cash Flow Hedge Due To Forecasted Transaction Probable Of Not Occurring
LossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurring
|
26600 | USD |
CY2018Q4 | us-gaap |
Minority Interest
MinorityInterest
|
3258000 | USD |
CY2019Q1 | us-gaap |
Minority Interest
MinorityInterest
|
5251000 | USD |
CY2018Q1 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
158000 | USD |
CY2019Q1 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
134000 | USD |
CY2018Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
32571000 | USD |
CY2019Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
2387000 | USD |
CY2018Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-71015000 | USD |
CY2019Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-26642000 | USD |
CY2018Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
40677000 | USD |
CY2019Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
24751000 | USD |
CY2018Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
2361000 | USD |
CY2019Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
5791000 | USD |
CY2018Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
2177000 | USD |
CY2019Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
5631000 | USD |
CY2018Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-15942000 | USD |
CY2019Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-14842000 | USD |
CY2018Q1 | us-gaap |
Number Of Businesses Acquired
NumberOfBusinessesAcquired
|
6 | property |
CY2019Q1 | us-gaap |
Number Of Businesses Acquired
NumberOfBusinessesAcquired
|
2 | property |
CY2019Q1 | us-gaap |
Number Of Properties Subject To Ground Leases
NumberOfPropertiesSubjectToGroundLeases
|
7 | property |
CY2019Q1 | us-gaap |
Number Of Real Estate Properties
NumberOfRealEstateProperties
|
343 | property |
CY2019Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | segment |
CY2018Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
46262000 | USD |
CY2019Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
52282000 | USD |
CY2018Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
21824000 | USD |
CY2019Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
24078000 | USD |
CY2019Q1 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
300000 | USD |
CY2019Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
23700000 | USD |
CY2019Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
23717000 | USD |
CY2019Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
1300000 | USD |
CY2019Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
50800000 | USD |
CY2019Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0433 | |
CY2019Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P34Y0M12D | |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
47374000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
1371000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
|
1371000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
1371000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
1371000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
1371000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
|
40519000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
|
2208043000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
|
275118000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
|
247237000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
|
270569000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
|
279630000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
|
278651000 | USD |
CY2018Q4 | us-gaap |
Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
|
856838000 | USD |
CY2018Q1 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
400000 | USD |
CY2019Q1 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
|
-4941000 | USD |
CY2018Q1 | us-gaap |
Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax
|
4346000 | USD |
CY2018Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
10800000 | USD |
CY2019Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-1323000 | USD |
CY2018Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
15146000 | USD |
CY2019Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-6264000 | USD |
CY2018Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
11000 | USD |
CY2019Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
4000 | USD |
CY2018Q1 | us-gaap |
Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
|
6750000 | USD |
CY2019Q1 | us-gaap |
Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
|
1200000 | USD |
CY2018Q1 | us-gaap |
Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
|
561000 | USD |
CY2019Q1 | us-gaap |
Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
|
0 | USD |
CY2018Q1 | us-gaap |
Payments For Proceeds From Deposit On Loan
PaymentsForProceedsFromDepositOnLoan
|
0 | USD |
CY2019Q1 | us-gaap |
Payments For Proceeds From Deposit On Loan
PaymentsForProceedsFromDepositOnLoan
|
300000 | USD |
CY2018Q1 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
35833000 | USD |
CY2019Q1 | us-gaap |
Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
|
43270000 | USD |
CY2018Q1 | us-gaap |
Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
|
158000 | USD |
CY2019Q1 | us-gaap |
Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
|
134000 | USD |
CY2018Q1 | us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
2451000 | USD |
CY2019Q1 | us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
2455000 | USD |
CY2018Q1 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
0 | USD |
CY2019Q1 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
857000 | USD |
CY2018Q1 | us-gaap |
Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
|
63596000 | USD |
CY2019Q1 | us-gaap |
Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
|
23454000 | USD |
CY2018Q1 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
108000 | USD |
CY2019Q1 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
11265000 | USD |
CY2018Q1 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
2451000 | USD |
CY2019Q1 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
2485000 | USD |
CY2018Q1 | us-gaap |
Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
|
0.45 | |
CY2019Q1 | us-gaap |
Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
|
0.45 | |
CY2018Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
16670000 | shares |
CY2019Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
16670000 | shares |
CY2018Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
54000 | USD |
CY2019Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
55000 | USD |
CY2018Q4 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
22245000 | USD |
CY2019Q1 | us-gaap |
Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
|
81026000 | USD |
CY2018Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
-13000 | USD |
CY2019Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
150198000 | USD |
CY2018Q1 | us-gaap |
Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
|
-419000 | USD |
CY2019Q1 | us-gaap |
Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
|
1613000 | USD |
CY2018Q1 | us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
70000000 | USD |
CY2019Q1 | us-gaap |
Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
|
26000000 | USD |
CY2018Q1 | us-gaap |
Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
|
0 | USD |
CY2019Q1 | us-gaap |
Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
|
9277000 | USD |
CY2018Q1 | us-gaap |
Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
|
32750000 | USD |
CY2019Q1 | us-gaap |
Proceeds From Secured Notes Payable
ProceedsFromSecuredNotesPayable
|
84228000 | USD |
CY2018Q1 | us-gaap |
Profit Loss
ProfitLoss
|
4812000 | USD |
CY2019Q1 | us-gaap |
Profit Loss
ProfitLoss
|
8276000 | USD |
CY2018Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
43000 | USD |
CY2019Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
59000 | USD |
CY2018Q1 | us-gaap |
Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
|
100000 | USD |
CY2019Q1 | us-gaap |
Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
|
100000 | USD |
CY2018Q4 | us-gaap |
Real Estate Heldforsale
RealEstateHeldforsale
|
112902000 | USD |
CY2019Q1 | us-gaap |
Real Estate Heldforsale
RealEstateHeldforsale
|
110679000 | USD |
CY2018Q4 | us-gaap |
Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
|
437974000 | USD |
CY2019Q1 | us-gaap |
Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
|
467657000 | USD |
CY2018Q4 | us-gaap |
Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
|
3420899000 | USD |
CY2019Q1 | us-gaap |
Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
|
3414205000 | USD |
CY2018Q4 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
2982925000 | USD |
CY2019Q1 | us-gaap |
Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
|
2946548000 | USD |
CY2018Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
30000000 | USD |
CY2019Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
130000000 | USD |
CY2018Q1 | us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
1305000 | USD |
CY2019Q1 | us-gaap |
Repayments Of Secured Debt
RepaymentsOfSecuredDebt
|
82636000 | USD |
CY2018Q1 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
2690000 | USD |
CY2018Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
3369000 | USD |
CY2019Q1 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
3368000 | USD |
CY2018Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-615448000 | USD |
CY2019Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-653956000 | USD |
CY2018Q1 | us-gaap |
Revenues
Revenues
|
68086000 | USD |
CY2019Q1 | us-gaap |
Revenues
Revenues
|
75468000 | USD |
CY2018Q4 | us-gaap |
Secured Debt
SecuredDebt
|
1129807000 | USD |
CY2019Q1 | us-gaap |
Secured Debt
SecuredDebt
|
1131072000 | USD |
CY2018Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
-832000 | USD |
CY2019Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2109000 | USD |
CY2018Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
-13000 | USD |
CY2019Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
150198000 | USD |
CY2018Q1 | us-gaap |
Stock Option Plan Expense
StockOptionPlanExpense
|
-832000 | USD |
CY2019Q1 | us-gaap |
Stock Option Plan Expense
StockOptionPlanExpense
|
2109000 | USD |
CY2018Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1425488000 | USD |
CY2019Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1532311000 | USD |
CY2017Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1414243000 | USD |
CY2018Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1394495000 | USD |
CY2018Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1428746000 | USD |
CY2019Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
1537562000 | USD |
CY2018Q1 | us-gaap |
Straight Line Rent
StraightLineRent
|
1503000 | USD |
CY2019Q1 | us-gaap |
Straight Line Rent
StraightLineRent
|
1626000 | USD |
CY2018Q4 | us-gaap |
Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
|
2228000 | USD |
CY2019Q1 | us-gaap |
Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
|
48000 | USD |
CY2018Q4 | us-gaap |
Unsecured Debt
UnsecuredDebt
|
278727000 | USD |
CY2019Q1 | us-gaap |
Unsecured Debt
UnsecuredDebt
|
273414000 | USD |
CY2018Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
67287231 | shares |
CY2019Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
82798432 | shares |
CY2018Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
67287231 | shares |
CY2019Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
81474615 | shares |
CY2019Q1 | us-gaap |
Revenue Recognition Leases
RevenueRecognitionLeases
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Revenue Recognition</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's revenues, which are derived primarily from lease contracts, which include rents that each tenant pays in accordance with the terms of each lease agreement and are reported on a straight-line basis over the initial term of the lease. As of </font><font style="font-family:inherit;font-size:10pt;">March 31, 2019</font><font style="font-family:inherit;font-size:10pt;">, these leases had an average remaining lease term of </font><font style="font-family:inherit;font-size:10pt;">8.1</font><font style="font-family:inherit;font-size:10pt;"> years. Since many of the Company's leases provide for rental increases at specified intervals, straight-line basis accounting requires the Company to record a receivable for, and include in revenues, unbilled rent receivables that the Company will only receive if the tenant makes all rent payments required through the expiration of the initial term of the lease. For new leases after acquisition, the commencement date is considered to be the date the lease modification is executed. The Company defers the revenue related to lease payments received from tenants in advance of their due dates. When the Company acquires a property, the acquisition date is considered to be the commencement date for purposes of this calculation. The Company's lease agreements generally require tenants to pay or reimburse the Company for all property operating expenses, in addition to base rent, however some limited property operating expenses that are not the responsibility of the tenant are absorbed by the Company. Operating expense reimbursements primarily reflect insurance costs and real estate taxes incurred by the Company and subsequently reimbursed by the tenant. Under ASC 842, the Company has elected to report combined lease and non-lease components in a single line “Revenue from tenants.” For comparative purposes, the Company has also elected to reflect prior revenue and reimbursements previously reported under ASC 840 on a single line as well. For expenses paid directly by the tenant, under both ASC 842 and 840, the Company has reflected them on a net basis. </font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present future base rent payments on a cash basis due to the Company over the periods indicated. These amounts exclude tenant reimbursements and contingent rent payments, as applicable, that may be collected from certain tenants based on provisions related to sales thresholds and increases in annual rent based on exceeding certain economic indexes among other items.</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">As of </font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">March 31, 2019</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">:</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5" rowspan="1"></td></tr><tr><td style="width:76%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:21%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">(In thousands)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Future  Base Rent Payments </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2019 (remainder)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">207,860</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">280,334</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2021</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">281,327</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2022</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">272,251</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2023</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">248,870</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2024</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">204,921</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Thereafter</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">663,302</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,158,865</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:6pt;"><font style="font-family:inherit;font-size:6pt;">___________________________________________</font></div><table cellpadding="0" cellspacing="0" style="padding-top:6px;padding-bottom:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup> </font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Assumes exchange rates of </font><font style="font-family:inherit;font-size:8pt;">£1.00</font><font style="font-family:inherit;font-size:8pt;"> to </font><font style="font-family:inherit;font-size:8pt;">$1.30</font><font style="font-family:inherit;font-size:8pt;"> for GBP and </font><font style="font-family:inherit;font-size:8pt;">€1.00</font><font style="font-family:inherit;font-size:8pt;"> to </font><font style="font-family:inherit;font-size:8pt;">$1.12</font><font style="font-family:inherit;font-size:8pt;"> for EUR as of </font><font style="font-family:inherit;font-size:8pt;">March 31, 2019</font><font style="font-family:inherit;font-size:8pt;"> for illustrative purposes, as applicable.</font></div></td></tr></table><div style="line-height:120%;padding-left:4px;padding-bottom:4px;padding-top:4px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">As of December 31, 2018:</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:justify;padding-left:0px;text-indent:0px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5" rowspan="1"></td></tr><tr><td style="width:76%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:21%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">(In thousands)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Future </font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Base Rent Payments </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(1)</sup></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2019</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">275,118</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">278,651</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2021</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">279,630</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2022</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">270,569</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2023</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">247,237</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Thereafter</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">856,838</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,208,043</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:6pt;"><font style="font-family:inherit;font-size:6pt;">___________________________________________</font></div><table cellpadding="0" cellspacing="0" style="padding-top:4px;padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup> </font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Assumes exchange rates of </font><font style="font-family:inherit;font-size:8pt;">£1.00</font><font style="font-family:inherit;font-size:8pt;"> to </font><font style="font-family:inherit;font-size:8pt;">$1.27</font><font style="font-family:inherit;font-size:8pt;"> for GBP and </font><font style="font-family:inherit;font-size:8pt;">€1.00</font><font style="font-family:inherit;font-size:8pt;"> to </font><font style="font-family:inherit;font-size:8pt;">$1.14</font><font style="font-family:inherit;font-size:8pt;"> for EUR as of December 31, 2018 for illustrative purposes, as applicable.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company continually reviews receivables related to rent and unbilled rent receivables and determines collectability by taking into consideration the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. Under the new leasing standard (see the “Recently Issued Accounting Pronouncements” section below), the Company is required to assess, based on credit risk only, if it is probable that it will collect virtually all of the lease payments at lease commencement date and it must continue to reassess collectability periodically thereafter based on new facts and circumstances affecting the credit risk of the tenant. Partial reserves, or the ability to assume partial recovery are no longer permitted. If the Company determines that it is probable it will collect virtually all of the lease payments (rent and common area maintenance), the lease will continue to be accounted for on an accrual basis (i.e. straight-line). However, if the Company determines it is not probable that it will collect virtually all of the lease payments, the lease will be accounted for on a cash basis and a full reserve would be recorded on previously accrued amounts in cases where it was subsequently concluded that collection was not probable. Cost recoveries from tenants are included in Revenue from tenants on the accompanying consolidated statements of operations in the period the related costs are incurred, as applicable. </font></div></div> | |
CY2019Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Judgments and Estimates</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company regularly makes a number of estimates and assumptions relating to the reporting of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses in order to prepare its consolidated financial statements in conformity with GAAP. These estimates and assumptions are based on management's best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, such as the prevailing economic and business environment. Management adjusts such estimates when facts and circumstances dictate. The most significant estimates management makes include recoverability of accounts receivable, allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed, determination of impairment of long-lived assets, valuation of derivative financial instruments, valuation of compensation plans, and estimating the useful life of a long-lived asset. Actual results could differ materially from those estimated. </font></div></div> |