$WPC
W. P. Carey Inc.

2023 Q3 Form 10-Q Financial Statement

#000102537823000108 Filed on July 28, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $448.6M $452.6M
YoY Change 16.93% 31.41%
Cost Of Revenue $97.00K $52.94M
YoY Change -71.8% 4531.41%
Gross Profit $448.5M $399.6M
YoY Change 17.01% 16.43%
Gross Profit Margin 99.98% 88.3%
Selling, General & Admin $32.31M $33.78M
YoY Change 16.17% 10.41%
% of Gross Profit 7.2% 8.45%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $149.8M $148.7M
YoY Change 9.78% 25.43%
% of Gross Profit 33.41% 37.2%
Operating Expenses $177.1M $177.3M
YoY Change 10.68% 21.73%
Operating Profit $271.4M $222.3M
YoY Change 21.54% 12.52%
Interest Expense $76.97M -$72.24M
YoY Change 30.42% -255.62%
% of Operating Profit 28.36% -32.49%
Other Income/Expense, Net -$61.87M $4.337M
YoY Change 154.84% -118.32%
Pretax Income $130.1M $154.7M
YoY Change 15.6% 15.48%
Income Tax $5.090M $10.13M
% Of Pretax Income 3.91% 6.55%
Net Earnings $125.0M $144.6M
YoY Change 19.17% 13.27%
Net Earnings / Revenue 27.88% 31.95%
Basic Earnings Per Share
Diluted Earnings Per Share $0.58 $0.67
COMMON SHARES
Basic Shares Outstanding 213.9M shares 213.9M shares
Diluted Shares Outstanding 215.3M shares 215.2M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $136.4M $204.1M
YoY Change -26.81% 97.03%
Cash & Equivalents $136.4M $204.1M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $102.0M $43.00M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $238.5M $247.1M
YoY Change 5.7% 101.67%
LONG-TERM ASSETS
Property, Plant & Equipment $12.81B $13.13B
YoY Change 3.65% 25.28%
Goodwill $1.034B $1.037B
YoY Change 1.08% 16.32%
Intangibles
YoY Change
Long-Term Investments $351.5M $340.3M
YoY Change 18.1% -1.18%
Other Assets $77.49M $82.18M
YoY Change 21.84% -15.19%
Total Long-Term Assets $18.39B $18.83B
YoY Change 4.8% 22.81%
TOTAL ASSETS
Total Short-Term Assets $238.5M $247.1M
Total Long-Term Assets $18.39B $18.83B
Total Assets $18.63B $19.08B
YoY Change 4.81% 23.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $639.0M $643.8M
YoY Change 7.54% 21.54%
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 $872.3M $876.3M
YoY Change 6.58% 18.86%
LONG-TERM LIABILITIES
Long-Term Debt $8.288B $8.616B
YoY Change 6.48% 27.35%
Other Long-Term Liabilities $153.0M $157.7M
YoY Change -17.22% -9.75%
Total Long-Term Liabilities $8.441B $8.774B
YoY Change 5.93% 26.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $872.3M $876.3M
Total Long-Term Liabilities $8.441B $8.774B
Total Liabilities $9.485B $9.846B
YoY Change 5.85% 26.02%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $214.0K $214.0K
YoY Change 2.88% 10.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.134B $9.231B
YoY Change
Total Liabilities & Shareholders Equity $18.63B $19.08B
YoY Change 4.81% 23.44%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $125.0M $144.6M
YoY Change 19.17% 13.27%
Depreciation, Depletion And Amortization $149.8M $148.7M
YoY Change 9.78% 25.43%
Cash From Operating Activities $282.4M $247.6M
YoY Change 10.45% 17.35%
INVESTING ACTIVITIES
Capital Expenditures $41.25M $778.3M
YoY Change -109.67% -302.71%
Acquisitions
YoY Change
Other Investing Activities $154.3M $460.0M
YoY Change -576.85% 776.54%
Cash From Investing Activities $113.1M -$318.3M
YoY Change -124.64% -3.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -464.9M 128.3M
YoY Change -280.54% 81.19%
NET CHANGE
Cash From Operating Activities 282.4M 247.6M
Cash From Investing Activities 113.1M -318.3M
Cash From Financing Activities -464.9M 128.3M
Net Change In Cash -69.50M 57.61M
YoY Change -228.05% -216.06%
FREE CASH FLOW
Cash From Operating Activities $282.4M $247.6M
Capital Expenditures $41.25M $778.3M
Free Cash Flow $241.1M -$530.7M
YoY Change -64.66% -189.2%

Facts In Submission

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10380000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
13618000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6599000 usd
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
2886000 usd
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 usd
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
2193000 usd
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
5656000 usd
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
280000 usd
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
65000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
435521000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
106531000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1909000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-10346000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
62146000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-17457000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
224141000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
217950000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
286287000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
200493000 usd
us-gaap Nature Of Operations
NatureOfOperations
Business and Organization<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">W. P. Carey Inc. (“W. P. Carey”) is a REIT that, together with our consolidated subsidiaries, invests primarily in operationally-critical, single-tenant commercial real estate properties located in the United States and Northern and Western Europe on a long-term basis. We earn revenue principally by leasing the properties we own to companies on a triple-net lease basis, which generally requires each tenant to pay the costs associated with operating and maintaining the property.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Founded in 1973, our shares of common stock are listed on the New York Stock Exchange under the symbol “WPC.”</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We elected to be taxed as a REIT under Section 856 through 860 of the Internal Revenue Code effective as of February 15, 2012. As a REIT, we are not subject to federal income taxes on income and gains that we distribute to our stockholders as long as we satisfy certain requirements, principally relating to the nature of our income and the level of our distributions, as well as other factors. We also own real property in jurisdictions outside the United States through foreign subsidiaries and are subject to income taxes on our pre-tax income earned from properties in such countries. Through our taxable REIT subsidiaries (“TRSs”), we also earn revenue as the advisor to certain non-traded investment programs. We hold substantially all of our real estate assets under the REIT structure, while the activities conducted by our Investment Management segment subsidiaries have been organized under TRSs.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On August 1, 2022, a non-traded REIT that we advised, Corporate Property Associates 18 – Global Incorporated (“CPA:18 – Global”) merged with and into one of our indirect subsidiaries (the “CPA:18 Merger”). At June 30, 2023, we were the advisor to Carey European Student Housing Fund I, L.P. (“CESH”), a limited partnership formed for the purpose of developing, owning, and operating student housing properties in Europe (</span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#i9a1d7a54a9514b5cbcfa55ddb1f46a08_49" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 3</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). We refer to CPA:18 – Global (prior to the CPA:18 Merger) and CESH collectively as the “Managed Programs.” We no longer raise capital for new or existing funds, but currently expect to continue managing CESH through the end of its life cycle (</span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#i9a1d7a54a9514b5cbcfa55ddb1f46a08_49" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 3</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">).</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reportable Segments</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Real Estate</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> — Lease revenues from our real estate investments generate the vast majority of our earnings. We invest primarily in commercial properties located in the United States and Northern and Western Europe, which are leased to companies on a triple-net lease basis. At June 30, 2023, our portfolio was comprised of our full or partial ownership interests in 1,475 properties, totaling approximately 180 million square feet, substantially all of which were net leased to 398 tenants, with a weighted-average lease term of 11.2 years and an occupancy rate of 99.0%. In addition, at June 30, 2023, our portfolio was comprised of full or partial ownership interests in 100 operating properties, including 85 self-storage properties, 13 hotels, and two student housing properties, totaling approximately 7.8 million square feet.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Investment Management</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> — Through our TRSs, we manage the real estate investment portfolio for CESH, for which we earn asset management revenue. We may also be entitled to receive certain distributions pursuant to our advisory arrangements with CESH. At June 30, 2023, CESH wholly owned (i) two net-leased properties, totaling approximately 0.2 million square feet, both of which were leased to one tenant, with an occupancy rate of 100.0%, and (ii) one build-to-suit project.</span></div>
CY2023Q2 wpc Variable Interest Entities Count
VariableInterestEntitiesCount
15 vie
CY2022Q4 wpc Variable Interest Entities Count
VariableInterestEntitiesCount
16 vie
CY2023Q2 wpc Variable Interest Entities Consolidated Count
VariableInterestEntitiesConsolidatedCount
10 vie
CY2022Q4 wpc Variable Interest Entities Consolidated Count
VariableInterestEntitiesConsolidatedCount
11 vie
CY2023Q2 wpc Variable Interest Entities Unconsolidated Count
VariableInterestEntitiesUnconsolidatedCount
5 vie
CY2022Q4 wpc Variable Interest Entities Unconsolidated Count
VariableInterestEntitiesUnconsolidatedCount
5 vie
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior period amounts have been reclassified to conform to the current period presentation.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Amounts due from affiliates are now included within Other assets, net in the consolidated balance sheets. Previously, such amounts were included within Due from affiliates in the consolidated balance sheets.</span></div>
us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
Revenue RecognitionThere have been no significant changes in our policies for revenue from contracts under Accounting Standards Codification (“ASC”) 606 from what was disclosed in the 2022 Annual Report. ASC 606 does not apply to our lease revenues, which constitute a majority of our revenues, but primarily applies to revenues generated from our hotel operating properties and our Investment Management segment. Revenue from contracts under ASC 606 from our Investment Management segment is discussed in <span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="#i9a1d7a54a9514b5cbcfa55ddb1f46a08_49" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Note 3</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</span>
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
204103000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
167996000 usd
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
82184000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
56145000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
286287000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
224141000 usd
wpc Percentage Of Available Cash Distribution To Advisor
PercentageOfAvailableCashDistributionToAdvisor
0.10
CY2023Q2 wpc Number Of Jointly Owned Investments
NumberOfJointlyOwnedInvestments
9 investment
CY2023Q2 wpc Number Of Jointly Owned Investments Equity Method Investments
NumberOfJointlyOwnedInvestmentsEquityMethodInvestments
4 investment
wpc Funds Capitalized For Construction In Progress
FundsCapitalizedForConstructionInProgress
54500000 usd
wpc Number Of Construction Projects During Period
NumberOfConstructionProjectsDuringPeriod
11 property
CY2022 wpc Number Of Construction Projects During Period
NumberOfConstructionProjectsDuringPeriod
8 property
CY2023Q2 wpc Unfunded Commitment
UnfundedCommitment
90900000 usd
CY2022Q4 wpc Unfunded Commitment
UnfundedCommitment
61100000 usd
CY2023Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
2 property
us-gaap Property Plant And Equipment Transfers And Changes
PropertyPlantAndEquipmentTransfersAndChanges
20637000 usd
CY2023Q2 us-gaap Direct Financing Lease Unguaranteed Residual Asset
DirectFinancingLeaseUnguaranteedResidualAsset
465995000 usd
CY2022Q4 us-gaap Direct Financing Lease Unguaranteed Residual Asset
DirectFinancingLeaseUnguaranteedResidualAsset
470839000 usd
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1100000 usd
us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
11400000 usd
wpc End Of Lease Payments
EndOfLeasePayments
6100000 usd
us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
8200000 usd
CY2023Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
324468000 usd
CY2022Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
281269000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
632534000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
557410000 usd
CY2023Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
44656000 usd
CY2022Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
33085000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
88926000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
64669000 usd
CY2023Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
369124000 usd
CY2022Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
314354000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
721460000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
622079000 usd
CY2023Q2 wpc Assets Held For Sale Not Part Of Disposal Group Accumulated Depreciation
AssetsHeldForSaleNotPartOfDisposalGroupAccumulatedDepreciation
0 usd
CY2022Q4 wpc Assets Held For Sale Not Part Of Disposal Group Accumulated Depreciation
AssetsHeldForSaleNotPartOfDisposalGroupAccumulatedDepreciation
3254000 usd
CY2023Q2 wpc Real Estate Investments Net Including Real Estate Held For Sale
RealEstateInvestmentsNetIncludingRealEstateHeldForSale
43002000 usd
CY2022Q4 wpc Real Estate Investments Net Including Real Estate Held For Sale
RealEstateInvestmentsNetIncludingRealEstateHeldForSale
57944000 usd
CY2023Q2 us-gaap Sales Type Lease Net Investment In Lease After Allowance For Credit Loss
SalesTypeLeaseNetInvestmentInLeaseAfterAllowanceForCreditLoss
235887000 usd
CY2022Q4 us-gaap Sales Type Lease Net Investment In Lease After Allowance For Credit Loss
SalesTypeLeaseNetInvestmentInLeaseAfterAllowanceForCreditLoss
234198000 usd
CY2023Q2 wpc Mortgage Loans Receivable Net
MortgageLoansReceivableNet
39250000 usd
CY2022Q4 wpc Mortgage Loans Receivable Net
MortgageLoansReceivableNet
39250000 usd
CY2023Q2 wpc Net Investment In Lease And Loans Receivable Before Allowance For Credit Loss
NetInvestmentInLeaseAndLoansReceivableBeforeAllowanceForCreditLoss
1222439000 usd
CY2022Q4 wpc Net Investment In Lease And Loans Receivable Before Allowance For Credit Loss
NetInvestmentInLeaseAndLoansReceivableBeforeAllowanceForCreditLoss
771761000 usd
CY2022Q4 wpc Loans Receivable Sales Type Lease Allowance For Credit Loss
LoansReceivableSalesTypeLeaseAllowanceForCreditLoss
2100000 usd
CY2023Q2 wpc Loans Receivable Sales Type Lease Allowance For Credit Loss
LoansReceivableSalesTypeLeaseAllowanceForCreditLoss
2100000 usd
CY2023Q2 us-gaap Direct Financing Lease Lease Receivable
DirectFinancingLeaseLeaseReceivable
308540000 usd
CY2022Q4 us-gaap Direct Financing Lease Lease Receivable
DirectFinancingLeaseLeaseReceivable
332618000 usd
CY2023Q2 wpc Direct Financing Lease Net Investment In Lease Excluding Deferred Selling Profit
DirectFinancingLeaseNetInvestmentInLeaseExcludingDeferredSellingProfit
774535000 usd
CY2022Q4 wpc Direct Financing Lease Net Investment In Lease Excluding Deferred Selling Profit
DirectFinancingLeaseNetInvestmentInLeaseExcludingDeferredSellingProfit
803457000 usd
CY2023Q2 us-gaap Direct Financing Lease Deferred Selling Profit
DirectFinancingLeaseDeferredSellingProfit
273550000 usd
CY2022Q4 us-gaap Direct Financing Lease Deferred Selling Profit
DirectFinancingLeaseDeferredSellingProfit
296411000 usd
CY2023Q2 us-gaap Direct Financing Lease Net Investment In Lease Allowance For Credit Loss
DirectFinancingLeaseNetInvestmentInLeaseAllowanceForCreditLoss
5104000 usd
CY2022Q4 us-gaap Direct Financing Lease Net Investment In Lease Allowance For Credit Loss
DirectFinancingLeaseNetInvestmentInLeaseAllowanceForCreditLoss
8733000 usd
CY2023Q2 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
495881000 usd
CY2022Q4 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
498313000 usd
CY2023Q2 wpc Intangible Liabilities Net
IntangibleLiabilitiesNet
157728000 usd
CY2023Q2 us-gaap Direct Financing Lease Interest Income
DirectFinancingLeaseInterestIncome
12800000 usd
CY2022Q2 us-gaap Direct Financing Lease Interest Income
DirectFinancingLeaseInterestIncome
13300000 usd
us-gaap Direct Financing Lease Interest Income
DirectFinancingLeaseInterestIncome
25400000 usd
us-gaap Direct Financing Lease Interest Income
DirectFinancingLeaseInterestIncome
27200000 usd
us-gaap Financing Receivable Excluding Accrued Interest Sale And Reclassification To Held For Sale
FinancingReceivableExcludingAccruedInterestSaleAndReclassificationToHeldForSale
451400000 usd
CY2023Q2 us-gaap Sales Type Lease Lease Receivable
SalesTypeLeaseLeaseReceivable
480484000 usd
CY2022Q4 us-gaap Sales Type Lease Lease Receivable
SalesTypeLeaseLeaseReceivable
0 usd
CY2023Q2 wpc Sales Type Lease Net Investment In Lease Excluding Deferred Selling Profit
SalesTypeLeaseNetInvestmentInLeaseExcludingDeferredSellingProfit
480484000 usd
CY2022Q4 wpc Sales Type Lease Net Investment In Lease Excluding Deferred Selling Profit
SalesTypeLeaseNetInvestmentInLeaseExcludingDeferredSellingProfit
0 usd
CY2023Q2 wpc Sales Type Lease Deferred Selling Profit
SalesTypeLeaseDeferredSellingProfit
29063000 usd
CY2022Q4 wpc Sales Type Lease Deferred Selling Profit
SalesTypeLeaseDeferredSellingProfit
0 usd
CY2023Q2 us-gaap Sales Type Lease Net Investment In Lease
SalesTypeLeaseNetInvestmentInLease
451421000 usd
CY2022Q4 us-gaap Sales Type Lease Net Investment In Lease
SalesTypeLeaseNetInvestmentInLease
0 usd
CY2023Q2 wpc Loans Receivable Sales Type Lease Interest Income
LoansReceivableSalesTypeLeaseInterestIncome
4900000 usd
CY2022Q2 wpc Loans Receivable Sales Type Lease Interest Income
LoansReceivableSalesTypeLeaseInterestIncome
4500000 usd
wpc Loans Receivable Sales Type Lease Interest Income
LoansReceivableSalesTypeLeaseInterestIncome
9700000 usd
wpc Loans Receivable Sales Type Lease Interest Income
LoansReceivableSalesTypeLeaseInterestIncome
8900000 usd
CY2023Q2 us-gaap Notes Receivable Net
NotesReceivableNet
1229643000 usd
CY2022Q4 us-gaap Notes Receivable Net
NotesReceivableNet
782594000 usd
CY2023Q2 wpc Intangible Assets Gross Including Goodwill
IntangibleAssetsGrossIncludingGoodwill
4461884000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1627193000 usd
CY2023Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
2834691000 usd
CY2022Q4 wpc Intangible Assets Gross Including Goodwill
IntangibleAssetsGrossIncludingGoodwill
4414293000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1587815000 usd
CY2022Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
2826478000 usd
CY2023Q2 wpc Intangible Liabilities Gross
IntangibleLiabilitiesGross
234289000 usd
CY2023Q2 wpc Finite Lived Intangible Liabilities Accumulated Amortization
FiniteLivedIntangibleLiabilitiesAccumulatedAmortization
76561000 usd
CY2022Q4 wpc Intangible Liabilities Gross
IntangibleLiabilitiesGross
309871000 usd
CY2022Q4 wpc Finite Lived Intangible Liabilities Accumulated Amortization
FiniteLivedIntangibleLiabilitiesAccumulatedAmortization
125287000 usd
CY2022Q4 wpc Intangible Liabilities Net
IntangibleLiabilitiesNet
184584000 usd
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
63600000 usd
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
50800000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
131200000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
103500000 usd
CY2022Q4 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
0 usd
CY2023Q2 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
0 usd
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
28510000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
39274000 usd
CY2023Q2 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
2457000 usd
CY2022Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
1693000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
-4584000 usd
CY2022Q2 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
19033000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
-11447000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
25015000 usd
CY2023Q2 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
150000 usd
CY2022Q2 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
3561000 usd
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-594000 usd
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
5240000 usd
CY2023Q2 us-gaap Derivative Remaining Maturity1
DerivativeRemainingMaturity1
P59M
CY2023Q2 us-gaap Foreign Currency Cash Flow Hedge Derivative At Fair Value Net
ForeignCurrencyCashFlowHedgeDerivativeAtFairValueNet
18260000 usd
CY2023Q2 us-gaap Derivative Asset Collateral Obligation To Return Cash Offset
DerivativeAssetCollateralObligationToReturnCashOffset
0 usd
CY2023Q2 us-gaap Credit Derivative Maximum Exposure Undiscounted
CreditDerivativeMaximumExposureUndiscounted
22200000 usd
CY2023Q2 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
2500000 usd
CY2022Q4 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
1700000 usd
CY2023Q2 us-gaap Assets Needed For Immediate Settlement Aggregate Fair Value
AssetsNeededForImmediateSettlementAggregateFairValue
2500000 usd
CY2022Q4 us-gaap Assets Needed For Immediate Settlement Aggregate Fair Value
AssetsNeededForImmediateSettlementAggregateFairValue
1700000 usd
CY2023Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
2100000 usd
CY2022Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
236400000 usd
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-69400000 usd
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
313300000 usd
CY2022Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
2750000000 usd
CY2023Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1647449000 usd
CY2022Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
830406000 usd
CY2023Q2 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.045
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
278231000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1241957000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
1972988000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1536988000 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
543968000 usd
CY2023Q2 wpc Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
3100466000 usd
CY2023Q2 wpc Long Term Debt Before Unamortized Discount
LongTermDebtBeforeUnamortizedDiscount
8674598000 usd
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
34796000 usd
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
23877000 usd
CY2023Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
8615925000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9000000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9800000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16800000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17600000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
34400000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
144620000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
144620000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
127678000 usd
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
127678000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
439000000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
439000000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
284673000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
284673000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
215075114 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
194019451 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
213522150 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
192971256 shares
CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
109371 shares
CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
744244 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
353321 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
734779 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
215184485 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
194763695 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
213875471 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
193706035 shares
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.069
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.136
CY2023Q2 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
12900000 usd
CY2022Q2 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
6600000 usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
23600000 usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
14900000 usd
CY2023Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2700000 usd
CY2022Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-400000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1600000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1600000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
CY2023Q2 us-gaap Revenues
Revenues
452578000 usd
CY2022Q2 us-gaap Revenues
Revenues
344397000 usd
us-gaap Revenues
Revenues
880368000 usd
us-gaap Revenues
Revenues
692835000 usd
CY2023Q2 us-gaap Costs And Expenses
CostsAndExpenses
231687000 usd
CY2022Q2 us-gaap Costs And Expenses
CostsAndExpenses
186758000 usd
us-gaap Costs And Expenses
CostsAndExpenses
478432000 usd
us-gaap Costs And Expenses
CostsAndExpenses
385378000 usd
CY2023Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-66182000 usd
CY2022Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-23669000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
62333000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-9411000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10129000 usd
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6252000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25248000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13335000 usd
CY2023Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-40000 usd
CY2022Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
40000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
21000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
38000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
144620000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
127678000 usd
us-gaap Net Income Loss
NetIncomeLoss
439000000 usd
us-gaap Net Income Loss
NetIncomeLoss
284673000 usd
CY2023Q2 us-gaap Assets
Assets
19076325000 usd
CY2022Q4 us-gaap Assets
Assets
18102035000 usd

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