2022 Q1 Form 10-Q Financial Statement

#000152611322000010 Filed on May 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $97.13M $89.39M
YoY Change 8.66% 12.81%
Cost Of Revenue $17.54M $17.21M
YoY Change 1.89% 6.43%
Gross Profit $79.60M $72.18M
YoY Change 10.28% 14.44%
Gross Profit Margin 81.95% 80.75%
Selling, General & Admin $6.621M $6.710M
YoY Change -1.33% 23.12%
% of Gross Profit 8.32% 9.3%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $24.57M $22.46M
YoY Change 9.41% 16.6%
% of Gross Profit 30.87% 31.12%
Operating Expenses $46.51M $46.39M
YoY Change 0.26% -16.31%
Operating Profit $32.85M $25.78M
YoY Change 27.45% 8.26%
Interest Expense $24.12M $21.37M
YoY Change 12.89% 29.98%
% of Operating Profit 73.44% 82.9%
Other Income/Expense, Net -$19.21M -$19.51M
YoY Change -1.53% 47.26%
Pretax Income $13.64M $6.264M
YoY Change 117.69% -40.68%
Income Tax $3.095M $2.080M
% Of Pretax Income 22.7% 33.21%
Net Earnings $10.54M $4.184M
YoY Change 151.94% -56.42%
Net Earnings / Revenue 10.85% 4.68%
Basic Earnings Per Share $0.05 -$0.01
Diluted Earnings Per Share $0.05 -$0.01
COMMON SHARES
Basic Shares Outstanding 103.6M shares 91.48M shares
Diluted Shares Outstanding 103.6M shares 91.48M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $123.5M $262.9M
YoY Change -53.02% -23.44%
Cash & Equivalents $123.5M $262.9M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $191.6M $325.1M
YoY Change -41.06% -17.84%
LONG-TERM ASSETS
Property, Plant & Equipment $3.859B $3.640B
YoY Change 6.02% 9.19%
Goodwill $21.81M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $13.57M $11.00M
YoY Change 23.39% -42.11%
Total Long-Term Assets $3.961B $3.719B
YoY Change 6.52% 8.75%
TOTAL ASSETS
Total Short-Term Assets $191.6M $325.1M
Total Long-Term Assets $3.961B $3.719B
Total Assets $4.153B $4.044B
YoY Change 2.69% 5.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.22M $30.00M
YoY Change -2.61% 31.58%
Accrued Expenses $23.25M $24.10M
YoY Change -3.54% 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 $58.79M $60.30M
YoY Change -2.51% 17.54%
LONG-TERM LIABILITIES
Long-Term Debt $2.425B $2.251B
YoY Change 7.73% 10.41%
Other Long-Term Liabilities $65.38M $72.90M
YoY Change -10.32% 19.7%
Total Long-Term Liabilities $2.491B $2.324B
YoY Change 7.17% 10.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $58.79M $60.30M
Total Long-Term Liabilities $2.491B $2.324B
Total Liabilities $2.557B $2.397B
YoY Change 6.71% 10.68%
SHAREHOLDERS EQUITY
Retained Earnings -$1.109B -$933.7M
YoY Change 18.74% 20.32%
Common Stock $2.369M $2.286M
YoY Change 3.63% 2.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.587B $1.623B
YoY Change
Total Liabilities & Shareholders Equity $4.153B $4.044B
YoY Change 2.69% 5.99%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $10.54M $4.184M
YoY Change 151.94% -56.42%
Depreciation, Depletion And Amortization $24.57M $22.46M
YoY Change 9.41% 16.6%
Cash From Operating Activities $61.82M $53.22M
YoY Change 16.16% 27.03%
INVESTING ACTIVITIES
Capital Expenditures -$1.782M -$3.200M
YoY Change -44.31% -97.21%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$1.200M
YoY Change -100.0% -14.29%
Cash From Investing Activities -$1.782M -$4.447M
YoY Change -59.93% -96.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$23.35M $92.75M
YoY Change -125.18% -39.59%
NET CHANGE
Cash From Operating Activities $61.82M $53.22M
Cash From Investing Activities -$1.782M -$4.447M
Cash From Financing Activities -$23.35M $92.75M
Net Change In Cash $36.69M $141.5M
YoY Change -74.08% 78.05%
FREE CASH FLOW
Cash From Operating Activities $61.82M $53.22M
Capital Expenditures -$1.782M -$3.200M
Free Cash Flow $63.60M $56.42M
YoY Change 12.73% -63.92%

Facts In Submission

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CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1595338000 USD
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1554279000 USD
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.40
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Other Longterm Incentive Plans Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationOtherLongtermIncentivePlansRequisiteServicePeriodRecognition
2577000 USD
CY2021Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
103000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
4184000 USD
CY2021Q1 us-gaap Cumulative Translation Adjustment Net Of Tax Period Increase Decrease
CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
2017000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
3795000 USD
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1647229000 USD
CY2022Q1 us-gaap Profit Loss
ProfitLoss
10541000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
4184000 USD
CY2022Q1 us-gaap Depreciation
Depreciation
24574000 USD
CY2021Q1 us-gaap Depreciation
Depreciation
22461000 USD
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
15315000 USD
CY2021Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
17223000 USD
CY2022Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2596000 USD
CY2021Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2279000 USD
CY2022Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
251000 USD
CY2021Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
0 USD
CY2022Q1 gnl Amortizationof Below Market Lease Liabilities
AmortizationofBelowMarketLeaseLiabilities
965000 USD
CY2021Q1 gnl Amortizationof Below Market Lease Liabilities
AmortizationofBelowMarketLeaseLiabilities
1088000 USD
CY2022Q1 gnl Amortizationof Above Market Lease Assets
AmortizationofAboveMarketLeaseAssets
1071000 USD
CY2021Q1 gnl Amortizationof Above Market Lease Assets
AmortizationofAboveMarketLeaseAssets
907000 USD
CY2022Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
224000 USD
CY2021Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
240000 USD
CY2022Q1 gnl Amortization Lease Incentives
AmortizationLeaseIncentives
272000 USD
CY2021Q1 gnl Amortization Lease Incentives
AmortizationLeaseIncentives
119000 USD
CY2022Q1 us-gaap Straight Line Rent
StraightLineRent
2853000 USD
CY2021Q1 us-gaap Straight Line Rent
StraightLineRent
944000 USD
CY2022Q1 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
-9003000 USD
CY2021Q1 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
0 USD
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2727000 USD
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2577000 USD
CY2022Q1 gnl Unrealized Gain Losson Foreign Currency Transaction Derivativesand Other
UnrealizedGainLossonForeignCurrencyTransactionDerivativesandOther
4210000 USD
CY2021Q1 gnl Unrealized Gain Losson Foreign Currency Transaction Derivativesand Other
UnrealizedGainLossonForeignCurrencyTransactionDerivativesandOther
1762000 USD
CY2022Q1 gnl Lease Incentive And Commission Payment
LeaseIncentiveAndCommissionPayment
2315000 USD
CY2021Q1 gnl Lease Incentive And Commission Payment
LeaseIncentiveAndCommissionPayment
0 USD
CY2022Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
230000 USD
CY2021Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
475000 USD
CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1367000 USD
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2361000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
558000 USD
CY2022Q1 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
3472000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
264220000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
61819000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
53220000 USD
CY2022Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
0 USD
CY2021Q1 us-gaap Payments For Deposits On Real Estate Acquisitions
PaymentsForDepositsOnRealEstateAcquisitions
1200000 USD
CY2022Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
1782000 USD
CY2021Q1 us-gaap Payments To Acquire Other Property Plant And Equipment
PaymentsToAcquireOtherPropertyPlantAndEquipment
3247000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1782000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4447000 USD
CY2022Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
35000000 USD
CY2021Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
15000000 USD
CY2022Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
14065000 USD
CY2021Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
2709000 USD
CY2022Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 USD
CY2021Q1 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
150000 USD
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
41566000 USD
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
36213000 USD
CY2022Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
100000 USD
CY2021Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
103000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-23351000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
92752000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
36686000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
141525000 USD
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1923000 USD
CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-2998000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
93311000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
125693000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
128074000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
264220000 USD
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
123502000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
262868000 USD
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4572000 USD
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1352000 USD
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
969000 USD
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 USD
CY2022Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
309 property
CY2022Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
39300000 sqft
CY2022Q1 gnl Real Estate Property Occupancy Rate
RealEstatePropertyOccupancyRate
0.987
CY2022Q1 gnl Lessor Average Remaining Lease Term
LessorAverageRemainingLeaseTerm
P8Y4M24D
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:5pt;margin-top:5pt;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%">Use of Estimates</span></div><div style="margin-bottom:5pt;margin-top:5pt;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 the multi-year outperformance agreements entered into with the Advisor in 2018 (the “2018 OPP”) and in 2021 (the “2021 OPP”) and fair value measurements, as applicable.
CY2022Q1 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 non-cancelable term of the lease. As of March 31, 2022, these leases had a weighted-average remaining lease term of 8.4 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 ASC 842, the Company has reflected them on a net basis. </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 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. </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%">On September 3, 2021, the Company entered into a lease termination agreement with one of its tenants which required the tenant to pay the Company a termination fee of approximately £6.7 million (approximately $9.0 million based on the exchange rate as of the end of the lease term on January 4, 2022). This payment was received in January 2022, however it was recorded in </span></div>revenue from tenants evenly over the period from September 3, 2021 through the end of the lease term, and as a result, the Company recorded approximately £0.2 million ( approximately $0.3 million) in revenue from tenants during the three months ended March 31, 2022. The termination fee was recorded in unbilled straight-line rent on the Company’s consolidated balance sheet as of December 31, 2021.
CY2022Q1 gnl Lessor Average Remaining Lease Term
LessorAverageRemainingLeaseTerm
P8Y4M24D
CY2021Q4 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2021Q1 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 USD
CY2022Q1 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 USD
CY2021 gnl Numberof Real Estate Properties Heldfor Sale
NumberofRealEstatePropertiesHeldforSale
0 property
CY2022Q1 gnl Real Estate Investment Property Held For Sale At Cost
RealEstateInvestmentPropertyHeldForSaleAtCost
10871000 USD
CY2022Q1 gnl Accumulated Depreciation Depletion And Amortization Real Estate Investment Held For Sale
AccumulatedDepreciationDepletionAndAmortizationRealEstateInvestmentHeldForSale
7281000 USD
CY2022Q1 gnl Additional Selling Costs Real Estate Investment Held For Sale
AdditionalSellingCostsRealEstateInvestmentHeldForSale
230000 USD
CY2022Q1 gnl Real Estate Investment Property Held For Sale Net
RealEstateInvestmentPropertyHeldForSaleNet
3360000 USD
CY2022Q1 us-gaap Disposal Group Not Discontinued Operation Loss Gain On Write Down
DisposalGroupNotDiscontinuedOperationLossGainOnWriteDown
200000 USD
CY2022Q1 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
1.31
CY2022Q1 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
1.11
CY2022Q1 gnl Real Estateand Accumulated Depreciation Unencumbered Assets
RealEstateandAccumulatedDepreciationUnencumberedAssets
1900000000 USD
CY2022Q1 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
1.31
CY2022Q1 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
1.11
CY2022Q1 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
0.80
CY2021Q4 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
1.35
CY2021Q4 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
1.13
CY2021Q4 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
0.79
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q1 gnl Debt Instrument Maximum Distribution Percentageof Ffo
DebtInstrumentMaximumDistributionPercentageofFFO
1
CY2022Q1 gnl Debt Instrument Maximum Distribution Under Exemption Percentage Of Affo
DebtInstrumentMaximumDistributionUnderExemptionPercentageOfAFFO
1.05
CY2020Q4 gnl Debt Instrument Maximum Distribution Percentageof Ffo
DebtInstrumentMaximumDistributionPercentageofFFO
1
CY2020Q4 gnl Debt Instrument Maximum Distribution Under Exemption Percentage Of Ffo
DebtInstrumentMaximumDistributionUnderExemptionPercentageOfFFO
1.05
CY2022Q1 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
0 USD
CY2022Q1 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0 USD
CY2022Q1 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
-500000 USD
CY2022Q1 us-gaap Interest Expense
InterestExpense
24123000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
21368000 USD
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
15262000 USD
CY2022Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
991000 USD
CY2022Q1 gnl Derivative Asset Liability Amount Offset
DerivativeAssetLiabilityAmountOffset
0 USD
CY2022Q1 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
14271000 USD
CY2022Q1 us-gaap Derivative Fair Value Amount Offset Against Collateral Net
DerivativeFairValueAmountOffsetAgainstCollateralNet
14271000 USD
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
4260000 USD
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
4259000 USD
CY2021Q4 gnl Derivative Asset Liability Amount Offset
DerivativeAssetLiabilityAmountOffset
0 USD
CY2021Q4 us-gaap Derivative Assets Liabilities At Fair Value Net
DerivativeAssetsLiabilitiesAtFairValueNet
1000 USD
CY2021Q4 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
0 USD
CY2021Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0 USD
CY2021Q4 us-gaap Derivative Fair Value Amount Offset Against Collateral Net
DerivativeFairValueAmountOffsetAgainstCollateralNet
1000 USD
CY2022Q1 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
500000 USD
CY2022Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
103909713 shares
CY2022Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
103909713 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
103900452 shares
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
103900452 shares
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
30000000 shares
CY2021 gnl Common Stock Dividend Rate Per Share
CommonStockDividendRatePerShare
1.60
CY2022Q1 gnl Common Stock Dividend Rate Per Share
CommonStockDividendRatePerShare
1.60
CY2021 gnl Common Stock Monthly Dividend Rate Per Share
CommonStockMonthlyDividendRatePerShare
0.40
CY2022Q1 gnl Common Stock Monthly Dividend Rate Per Share
CommonStockMonthlyDividendRatePerShare
0.40
CY2022Q1 us-gaap Number Of Properties Subject To Ground Leases
NumberOfPropertiesSubjectToGroundLeases
9 property
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
52500000 USD
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
52900000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
23200000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
22800000 USD
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P30Y1M6D
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0438
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
300000 USD
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
400000 USD
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
300000 USD
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
400000 USD
CY2019Q1 gnl Primary Property And Management Leasing Agreement Term
PrimaryPropertyAndManagementLeasingAgreementTerm
P1Y
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1030000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1373000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1377000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1382000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1383000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
0 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
37073000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
43618000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
20371000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
23247000 USD
CY2022Q1 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
1.31
CY2022Q1 us-gaap Foreign Currency Exchange Rate Translation1
ForeignCurrencyExchangeRateTranslation1
1.11
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
91479497 shares
CY2022Q1 gnl Number Of Real Estate Properties No Longer Subject To Oversight Fee
NumberOfRealEstatePropertiesNoLongerSubjectToOversightFee
39 property
CY2019Q1 gnl Propertyand Management Leasing Agreement Termination Notification Term
PropertyandManagementLeasingAgreementTerminationNotificationTerm
P12M
CY2019Q1 gnl Property Manager Termination Notice
PropertyManagerTerminationNotice
P60D
CY2022Q1 gnl Related Party Transaction Gain Of Sale Of Investment Exceeding Loss Percentage
RelatedPartyTransactionGainOfSaleOfInvestmentExceedingLossPercentage
0.15
CY2022Q1 gnl Related Party Transaction Periodto Reinvest Proceeds
RelatedPartyTransactionPeriodtoReinvestProceeds
P180D
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
103596182 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
103596182 shares
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5483000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-832000 USD
CY2022Q1 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
-222000 USD
CY2021Q1 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
-153000 USD
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
5261000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-985000 USD
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
91479497 shares
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.05
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.05
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2848988 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2728608 shares

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