2021 Q1 Form 10-Q Financial Statement

#000152611321000013 Filed on May 07, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $89.39M $79.24M
YoY Change 12.81% 5.0%
Cost Of Revenue $17.21M $16.17M
YoY Change 6.43% 101.04%
Gross Profit $72.18M $63.07M
YoY Change 14.44% -6.46%
Gross Profit Margin 80.75% 79.59%
Selling, General & Admin $6.710M $5.450M
YoY Change 23.12% 2.44%
% of Gross Profit 9.3% 8.64%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.46M $19.26M
YoY Change 16.6% 15.12%
% of Gross Profit 31.12% 30.54%
Operating Expenses $46.39M $55.43M
YoY Change -16.31% 6.03%
Operating Profit $25.78M $23.81M
YoY Change 8.26% -1.12%
Interest Expense $21.37M $16.44M
YoY Change 29.98% 8.43%
% of Operating Profit 82.9% 69.05%
Other Income/Expense, Net -$19.51M -$13.25M
YoY Change 47.26% -10.73%
Pretax Income $6.264M $10.56M
YoY Change -40.68% 14.34%
Income Tax $2.080M $959.0K
% Of Pretax Income 33.21% 9.08%
Net Earnings $4.184M $9.601M
YoY Change -56.42% 16.01%
Net Earnings / Revenue 4.68% 12.12%
Basic Earnings Per Share -$0.01 $0.05
Diluted Earnings Per Share -$0.01 $0.05
COMMON SHARES
Basic Shares Outstanding 91.48M shares 89.46M shares
Diluted Shares Outstanding 91.48M shares 89.50M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $262.9M $343.4M
YoY Change -23.44% 260.34%
Cash & Equivalents $262.9M $343.4M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $325.1M $395.7M
YoY Change -17.84% 174.03%
LONG-TERM ASSETS
Property, Plant & Equipment $3.640B $3.334B
YoY Change 9.19% 13.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $11.00M $19.00M
YoY Change -42.11% -84.55%
Total Long-Term Assets $3.719B $3.420B
YoY Change 8.75% 7.56%
TOTAL ASSETS
Total Short-Term Assets $325.1M $395.7M
Total Long-Term Assets $3.719B $3.420B
Total Assets $4.044B $3.815B
YoY Change 5.99% 14.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.00M $22.80M
YoY Change 31.58% -47.59%
Accrued Expenses $24.10M $23.40M
YoY Change 2.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $60.30M $51.30M
YoY Change 17.54% 9.85%
LONG-TERM LIABILITIES
Long-Term Debt $2.251B $2.039B
YoY Change 10.41% 22.47%
Other Long-Term Liabilities $72.90M $60.90M
YoY Change 19.7% 2.18%
Total Long-Term Liabilities $2.324B $2.100B
YoY Change 10.68% 21.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $60.30M $51.30M
Total Long-Term Liabilities $2.324B $2.100B
Total Liabilities $2.397B $2.165B
YoY Change 10.68% 21.23%
SHAREHOLDERS EQUITY
Retained Earnings -$933.7M -$776.0M
YoY Change 20.32% 18.66%
Common Stock $2.286M $2.225M
YoY Change 2.74% 2.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.623B $1.635B
YoY Change
Total Liabilities & Shareholders Equity $4.044B $3.815B
YoY Change 5.99% 14.79%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $4.184M $9.601M
YoY Change -56.42% 16.01%
Depreciation, Depletion And Amortization $22.46M $19.26M
YoY Change 16.6% 15.12%
Cash From Operating Activities $53.22M $41.90M
YoY Change 27.03% 69.27%
INVESTING ACTIVITIES
Capital Expenditures -$3.200M -$114.5M
YoY Change -97.21% 229.97%
Acquisitions
YoY Change
Other Investing Activities -$1.200M -$1.400M
YoY Change -14.29% -117.28%
Cash From Investing Activities -$4.447M -$115.9M
YoY Change -96.16% 335.2%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $92.75M $153.5M
YoY Change -39.59% 6332.3%
NET CHANGE
Cash From Operating Activities $53.22M $41.90M
Cash From Investing Activities -$4.447M -$115.9M
Cash From Financing Activities $92.75M $153.5M
Net Change In Cash $141.5M $79.49M
YoY Change 78.05% 15925.6%
FREE CASH FLOW
Cash From Operating Activities $53.22M $41.90M
Capital Expenditures -$3.200M -$114.5M
Free Cash Flow $56.42M $156.4M
YoY Change -63.92% 163.07%

Facts In Submission

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CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Other Longterm Incentive Plans Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition
2488000 USD
CY2020Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
157000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
9601000 USD
CY2020Q1 us-gaap Cumulative Translation Adjustment Net Of Tax Period Increase Decrease
CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
-12550000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-7152000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1649957000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
4184000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
9601000 USD
CY2021Q1 us-gaap Depreciation
Depreciation
22461000 USD
CY2020Q1 us-gaap Depreciation
Depreciation
19263000 USD
CY2021Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
17223000 USD
CY2020Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
14270000 USD
CY2021Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2279000 USD
CY2020Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1810000 USD
CY2021Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
0 USD
CY2020Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
10000 USD
CY2021Q1 gnl Amortizationof Below Market Lease Liabilities
AmortizationofBelowMarketLeaseLiabilities
1088000 USD
CY2020Q1 gnl Amortizationof Below Market Lease Liabilities
AmortizationofBelowMarketLeaseLiabilities
815000 USD
CY2021Q1 gnl Amortizationof Above Market Lease Assets
AmortizationofAboveMarketLeaseAssets
907000 USD
CY2020Q1 gnl Amortizationof Above Market Lease Assets
AmortizationofAboveMarketLeaseAssets
840000 USD
CY2021Q1 gnl Amortization Of Operating Lease Right Of Use Assets
AmortizationOfOperatingLeaseRightOfUseAssets
240000 USD
CY2020Q1 gnl Amortization Of Operating Lease Right Of Use Assets
AmortizationOfOperatingLeaseRightOfUseAssets
207000 USD
CY2021Q1 us-gaap Amortization Of Lease Incentives
AmortizationOfLeaseIncentives
119000 USD
CY2020Q1 us-gaap Amortization Of Lease Incentives
AmortizationOfLeaseIncentives
0 USD
CY2021Q1 us-gaap Straight Line Rent
StraightLineRent
944000 USD
CY2020Q1 us-gaap Straight Line Rent
StraightLineRent
1487000 USD
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2577000 USD
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2488000 USD
CY2021Q1 gnl Unrealized Gain Losson Foreign Currency Transaction Derivativesand Other
UnrealizedGainLossonForeignCurrencyTransactionDerivativesandOther
1762000 USD
CY2020Q1 gnl Unrealized Gain Losson Foreign Currency Transaction Derivativesand Other
UnrealizedGainLossonForeignCurrencyTransactionDerivativesandOther
2082000 USD
CY2021Q1 gnl Lease Incentive Payment
LeaseIncentivePayment
0 USD
CY2020Q1 gnl Lease Incentive Payment
LeaseIncentivePayment
4676000 USD
CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1367000 USD
CY2020Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-4873000 USD
CY2021Q1 gnl Decreasein Deferred Income Taxes
DecreaseinDeferredIncomeTaxes
0 USD
CY2020Q1 gnl Decreasein Deferred Income Taxes
DecreaseinDeferredIncomeTaxes
22000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
558000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-909000 USD
CY2021Q1 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
5099000 USD
CY2020Q1 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
212000 USD
CY2021Q1 gnl Increasein Deferred Income Taxes
IncreaseinDeferredIncomeTaxes
0 USD
CY2020Q1 gnl Increasein Deferred Income Taxes
IncreaseinDeferredIncomeTaxes
686000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
53220000 USD
CY2021Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
0 USD
CY2020Q1 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-1046000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
41895000 USD
CY2021Q1 us-gaap Payments To Acquire Other Real Estate
PaymentsToAcquireOtherRealEstate
0 USD
CY2020Q1 us-gaap Payments To Acquire Other Real Estate
PaymentsToAcquireOtherRealEstate
113117000 USD
CY2021Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
1200000 USD
CY2020Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
1434000 USD
CY2021Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
3247000 USD
CY2020Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
1396000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4447000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-115947000 USD
CY2021Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
15000000 USD
CY2020Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
205000000 USD
CY2021Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
2709000 USD
CY2020Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
0 USD
CY2021Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
150000 USD
CY2020Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
36213000 USD
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
47638000 USD
CY2021Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
103000 USD
CY2020Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
135000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
92752000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
153539000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
141525000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
79487000 USD
CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-2998000 USD
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-5972000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
125693000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
274287000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
264220000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
347802000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
262868000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
343447000 USD
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1352000 USD
CY2020Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4355000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
264220000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
347802000 USD
CY2021Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
306 property
CY2021Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
37200000 sqft
CY2021Q1 gnl Real Estate Property Occupancy Rate
RealEstatePropertyOccupancyRate
0.997
CY2021Q1 gnl Lessor Average Remaining Lease Term
LessorAverageRemainingLeaseTerm
P8Y3M18D
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="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:120%">The preparation of financial statements in conformity with GAAP 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 </span></div>financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management makes significant estimates regarding revenue recognition, purchase price allocations to record investments in real estate, income taxes, derivative financial instruments, hedging activities, equity-based compensation expenses related to a multi-year outperformance agreement entered into with the Advisor in 2018 (the “2018 OPP”) and fair value measurements, as applicable.
CY2021Q1 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<div style="margin-bottom:3pt;margin-top:3pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revenue Recognition</span></div><div style="margin-bottom:3pt;margin-top:3pt;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:120%">The Company’s revenues, which are derived primarily from lease contracts, include rents that each tenant pays in accordance with the terms of each lease reported on a straight-line basis over the initial term of the lease. As of March 31, 2021, these leases had a weighted-average remaining lease term of 8.3 years. Because 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 revenue from tenants, 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. </span></div><div style="margin-bottom:3pt;margin-top:3pt;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:120%">For new leases after acquisition of a property, the commencement date is considered to be the date the lease is executed and the tenant has access to the space. 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 for all leases in place at the time of acquisition. In addition to base rent, the Company’s lease agreements generally require tenants to pay or reimburse the Company for all property operating expenses, which primarily reflect insurance costs and real estate taxes incurred by the Company and subsequently reimbursed by the tenant. However, some limited property operating expenses that are not the responsibility of the tenant are absorbed by the Company. Under ASC 842, the Company has elected to report combined lease and non-lease components in a single line “Revenue from tenants.” For expenses paid directly by the tenant, under both ASC 842 and 840, the Company has reflected them on a net basis. </span></div>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 credit worthiness and 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 lease accounting rules, 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 the 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 the straight line rent receivable would be written off 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.
CY2021Q1 gnl Lessor Average Remaining Lease Term
LessorAverageRemainingLeaseTerm
P8Y3M18D
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2015Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2020Q1 gnl Business Acquisition Purchase Price Allocation Land Acquired In Period
BusinessAcquisitionPurchasePriceAllocationLandAcquiredInPeriod
21153000 USD
CY2020Q1 gnl Business Acquisition Purchase Price Allocation Buildings Fixtures And Improvements Acquired In Period
BusinessAcquisitionPurchasePriceAllocationBuildingsFixturesAndImprovementsAcquiredInPeriod
84767000 USD
CY2020Q1 gnl Business Acquisition Purchase Price Allocation Tangible Assets Acquired In Period
BusinessAcquisitionPurchasePriceAllocationTangibleAssetsAcquiredInPeriod
105920000 USD
CY2020Q1 gnl Business Acquisition Purchase Price Allocation Intangible Assets Acquired In Period
BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsAcquiredInPeriod
7197000 USD
CY2020Q1 gnl Business Acquisition Purchase Price Allocation Right Of Use Assets Acquired In Period
BusinessAcquisitionPurchasePriceAllocationRightOfUseAssetsAcquiredInPeriod
0 USD
CY2020Q1 gnl Business Acquisition Cost Of Acquired Entity Cash Paid In Period
BusinessAcquisitionCostOfAcquiredEntityCashPaidInPeriod
113117000 USD
CY2020Q1 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
10 property
CY2021Q1 gnl Numberof Real Estate Properties Heldfor Sale
NumberofRealEstatePropertiesHeldforSale
0 property
CY2020 gnl Numberof Real Estate Properties Heldfor Sale
NumberofRealEstatePropertiesHeldforSale
0 property
CY2021Q1 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
1.38
CY2021Q1 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
1.17
CY2021Q1 gnl Debt Instrument Covenant Loan To Value Ratio Required
DebtInstrumentCovenantLoanToValueRatioRequired
0.55
CY2021Q1 gnl Real Estateand Accumulated Depreciation Unencumbered Assets
RealEstateandAccumulatedDepreciationUnencumberedAssets
1800000000 USD
CY2021Q1 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
1.38
CY2021Q1 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
1.17
CY2020Q4 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
1.37
CY2020Q4 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
1.23
CY2021Q1 gnl Debt Instrument Maximum Distribution Percentageof Ffo
DebtInstrumentMaximumDistributionPercentageofFFO
1
CY2021Q1 gnl Debt Instrument Maximum Distribution Under Exemption Percentage Of Affo
DebtInstrumentMaximumDistributionUnderExemptionPercentageOfAFFO
1.05
CY2020Q2 gnl Debt Instrument Maximum Distribution Percentageof Ffo
DebtInstrumentMaximumDistributionPercentageofFFO
1
CY2020Q2 gnl Debt Instrument Maximum Distribution Under Exemption Percentage Of Ffo
DebtInstrumentMaximumDistributionUnderExemptionPercentageOfFFO
1.05
CY2021Q1 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
-6700000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
21368000 USD
CY2020Q1 us-gaap Interest Expense
InterestExpense
16440000 USD
CY2021Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
934000 USD
CY2021Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
14835000 USD
CY2021Q1 gnl Derivative Asset Liability Amount Offset
DerivativeAssetLiabilityAmountOffset
0 USD
CY2021Q1 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
-13901000 USD
CY2021Q1 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
0 USD
CY2021Q1 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0 USD
CY2021Q1 us-gaap Derivative Fair Value Amount Offset Against Collateral Net
DerivativeFairValueAmountOffsetAgainstCollateralNet
-13901000 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
525000 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
19984000 USD
CY2020Q4 gnl Derivative Asset Liability Amount Offset
DerivativeAssetLiabilityAmountOffset
0 USD
CY2020Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
-19459000 USD
CY2020Q4 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
0 USD
CY2020Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0 USD
CY2020Q4 us-gaap Derivative Fair Value Amount Offset Against Collateral Net
DerivativeFairValueAmountOffsetAgainstCollateralNet
-19459000 USD
CY2021Q1 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
15600000 USD
CY2021Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
95512062 shares
CY2021Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
95512062 shares
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
89614601 shares
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
89614601 shares
CY2021Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
30000000 shares
gnl Common Stock Dividend Rate Per Share
CommonStockDividendRatePerShare
2.13
gnl Common Stock Monthly Dividend Rate Per Share
CommonStockMonthlyDividendRatePerShare
0.5325
CY2020Q1 gnl Common Stock Dividend Rate Per Share
CommonStockDividendRatePerShare
1.60
CY2020Q1 gnl Common Stock Monthly Dividend Rate Per Share
CommonStockMonthlyDividendRatePerShare
0.40
CY2021Q1 us-gaap Number Of Properties Subject To Ground Leases
NumberOfPropertiesSubjectToGroundLeases
9 property
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
55800000 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
58400000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
24100000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
25400000 USD
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P31Y9M18D
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0433
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
400000 USD
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
400000 USD
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
300000 USD
CY2020Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
300000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1084000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1446000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1446000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1450000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1455000 USD
CY2021Q1 gnl Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
39005000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
45886000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
21801000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
24085000 USD
CY2021Q1 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
1.38
CY2021Q1 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
1.17
CY2021Q1 gnl Number Of Real Estate Properties No Longer Subject To Oversight Fee
NumberOfRealEstatePropertiesNoLongerSubjectToOversightFee
39 property
CY2019Q1 gnl Primary Property And Management Leasing Agreement Term
PrimaryPropertyAndManagementLeasingAgreementTerm
P1Y
CY2019Q1 gnl Propertyand Management Leasing Agreement Termination Notification Term
PropertyandManagementLeasingAgreementTerminationNotificationTerm
P12M
CY2019Q1 gnl Property Manager Termination Notice
PropertyManagerTerminationNotice
P60D
CY2021Q1 gnl Related Party Transaction Gain Of Sale Of Investment Exceeding Loss Percentage
RelatedPartyTransactionGainOfSaleOfInvestmentExceedingLossPercentage
0.15
CY2021Q1 gnl Related Party Transaction Periodto Reinvest Proceeds
RelatedPartyTransactionPeriodtoReinvestProceeds
P180D
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-832000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5038000 USD
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2728608 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2595471 shares
CY2021Q1 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
-153000 USD
CY2020Q1 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
-135000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-985000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
4903000 USD
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
91479497 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
89458753 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
91479497 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
89499294 shares
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05

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0001526113-21-000013.txt Edgar Link pending
0001526113-21-000013-xbrl.zip Edgar Link pending
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