v3.24.2
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Real Estate:        
Income from finance leases and loans receivable $ 14,961 $ 27,311 $ 40,754 $ 48,066
Investment Management:        
Revenues 389,672 452,578 779,470 880,368
Operating Expenses        
Depreciation and amortization 137,481 143,548 256,249 299,957
General and administrative 24,168 24,912 52,036 51,461
Operating property expenses 18,565 26,919 36,515 48,168
Impairment charges — real estate 15,752 0 15,752 0
Reimbursable tenant costs 14,004 20,523 26,977 42,499
Property expenses, excluding reimbursable tenant costs 13,931 5,371 26,104 18,143
Stock-based compensation expense 8,903 8,995 17,759 16,761
Merger and other expenses 206 1,419 4,658 1,443
Total operating expenses 233,010 231,687 436,050 478,432
Other Income and Expenses        
Interest expense (65,307) (75,488) (133,958) (142,684)
Gain on sale of real estate, net 39,363 1,808 54,808 179,557
Non-operating income 9,215 4,509 24,720 9,135
Earnings from equity method investments 6,636 4,355 11,500 9,591
Other gains and (losses) 2,504 (1,366) 16,343 6,734
Other Income and Expenses (7,589) (66,182) (26,587) 62,333
Income before income taxes 149,073 154,709 316,833 464,269
Provision for income taxes (6,219) (10,129) (14,893) (25,248)
Net Income 142,854 144,580 301,940 439,021
Net loss (income) attributable to noncontrolling interests 41 40 178 (21)
Net Income Attributable to W. P. Carey $ 142,895 $ 144,620 $ 302,118 $ 439,000
Basic Earnings Per Share (in dollars per share) $ 0.65 $ 0.67 $ 1.37 $ 2.06
Diluted Earnings Per Share (in dollars per share) $ 0.65 $ 0.67 $ 1.37 $ 2.05
Weighted-Average Shares Outstanding        
Basic (in shares) 220,195,910 215,075,114 220,113,753 213,522,150
Diluted (in shares) 220,214,118 215,184,485 220,261,525 213,875,471
Owned Real Estate        
Real Estate:        
Lease revenues $ 324,104 $ 369,124 $ 646,355 $ 721,460
Income from finance leases and loans receivable 14,961 27,311 40,754 48,066
Operating property revenues 38,715 50,676 75,358 91,562
Other lease-related income 9,149 5,040 11,304 18,413
Investment Management:        
Operating property revenues 38,715 50,676 75,358 91,562
Revenues 386,929 452,151 773,771 879,501
Investment Management        
Real Estate:        
Operating property revenues 2,743 427 5,699 867
Investment Management:        
Operating property revenues 2,743 427 5,699 867
Revenues 2,743 427 5,699 867
Other advisory income and reimbursements        
Real Estate:        
Operating property revenues 1,057 124 2,120 225
Investment Management:        
Operating property revenues 1,057 124 2,120 225
Asset management revenue        
Real Estate:        
Operating property revenues 1,686 303 3,579 642
Investment Management:        
Operating property revenues $ 1,686 $ 303 $ 3,579 $ 642