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10-Q Filing

REALTY INCOME CORP CIK: 726728 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0000726728-20-000042
Period End Date 20200331
Filing Date 20200505
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance o-03312010qdocument_htm.xml
Filing Contents
Balance Sheet 67 line items
Line Item Tag Value Unit Period
Common stock and paid in capital, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock and paid in capital, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock and paid in capital, authorized (in shares) CommonStockSharesAuthorized 740.20M shares Point-in-time
Common stock and paid in capital, authorized (in shares) CommonStockSharesAuthorized 740.20M shares Point-in-time
Common stock and paid in capital, issued (in shares) CommonStockSharesIssued 343.40M shares Point-in-time
Land Land $5.74B USD Point-in-time
Land Land $5.68B USD Point-in-time
Common stock and paid in capital, issued (in shares) CommonStockSharesIssued 333.62M shares Point-in-time
Common stock and paid in capital, outstanding (in shares) CommonStockSharesOutstanding 343.40M shares Point-in-time
Buildings and improvements InvestmentBuildingAndBuildingImprovements $13.83B USD Point-in-time
Buildings and improvements InvestmentBuildingAndBuildingImprovements $14.07B USD Point-in-time
Common stock and paid in capital, outstanding (in shares) CommonStockSharesOutstanding 333.62M shares Point-in-time
Total real estate held for investment, at cost RealEstateInvestmentPropertyAtCost $19.52B USD Point-in-time
Total real estate held for investment, at cost RealEstateInvestmentPropertyAtCost $19.81B USD Point-in-time
Less accumulated depreciation and amortization RealEstateInvestmentPropertyAccumulatedDepreciation $3.12B USD Point-in-time
Less accumulated depreciation and amortization RealEstateInvestmentPropertyAccumulatedDepreciation $3.24B USD Point-in-time
Real estate held for investment, net RealEstateInvestmentPropertyNet $16.57B USD Point-in-time
Real estate held for investment, net RealEstateInvestmentPropertyNet $16.40B USD Point-in-time
Real estate and lease intangibles held for sale, net AssetsOfDisposalGroupIncludingDiscontinuedOperation $21.36M USD Point-in-time
Real estate and lease intangibles held for sale, net AssetsOfDisposalGroupIncludingDiscontinuedOperation $96.78M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $3.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $54.01M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $41.80M USD Point-in-time
Accounts receivable AccountsReceivableNet $181.97M USD Point-in-time
Accounts receivable AccountsReceivableNet $185.63M USD Point-in-time
Lease intangible assets, net FiniteLivedIntangibleAssetsNet $1.49B USD Point-in-time
Lease intangible assets, net FiniteLivedIntangibleAssetsNet $1.52B USD Point-in-time
Other assets, net OtherAssets $460.25M USD Point-in-time
Other assets, net OtherAssets $328.66M USD Point-in-time
Total assets Assets $18.55B USD Point-in-time
Total assets Assets $18.80B USD Point-in-time
Distributions payable DividendsPayableCurrentAndNoncurrent $80.91M USD Point-in-time
Distributions payable DividendsPayableCurrentAndNoncurrent $76.73M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $182.18M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $177.04M USD Point-in-time
Lease intangible liabilities, net BelowMarketLeaseNet $333.10M USD Point-in-time
Lease intangible liabilities, net BelowMarketLeaseNet $328.75M USD Point-in-time
Other liabilities OtherLiabilities $262.22M USD Point-in-time
Other liabilities OtherLiabilities $251.35M USD Point-in-time
Line of credit payable LineOfCredit $704.34M USD Point-in-time
Line of credit payable LineOfCredit $615.18M USD Point-in-time
Term loans, net LoansPayable $499.04M USD Point-in-time
Term loans, net LoansPayable $499.15M USD Point-in-time
Mortgages payable, net SecuredDebt $410.12M USD Point-in-time
Mortgages payable, net SecuredDebt $408.16M USD Point-in-time
Notes payable, net NotesPayable $6.01B USD Point-in-time
Notes payable, net NotesPayable $6.29B USD Point-in-time
Total liabilities Liabilities $8.75B USD Point-in-time
Total liabilities Liabilities $8.38B USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies CommitmentsAndContingencies - USD Point-in-time
Common stock and paid in capital, par value $0.01 per share, 740,200,000 shares authorized, 343,402,030 and 333,619,106 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively CommonStocksIncludingAdditionalPaidInCapital $13.60B USD Point-in-time
Common stock and paid in capital, par value $0.01 per share, 740,200,000 shares authorized, 343,402,030 and 333,619,106 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively CommonStocksIncludingAdditionalPaidInCapital $12.87B USD Point-in-time
Distributions in excess of net income AccumulatedDistributionsInExcessOfNetIncome $3.08B USD Point-in-time
Distributions in excess of net income AccumulatedDistributionsInExcessOfNetIncome $3.17B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-42.57M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-17.10M USD Point-in-time
Total stockholders equity StockholdersEquity $10.39B USD Point-in-time
Total stockholders equity StockholdersEquity $9.77B USD Point-in-time
Noncontrolling interests MinorityInterest $29.70M USD Point-in-time
Noncontrolling interests MinorityInterest $29.62M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $10.42B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $8.12B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $8.01B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $9.80B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $18.55B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $18.80B USD Point-in-time
Income Statement 46 line items
Line Item Tag Value Unit Period
Rental (including reimbursable) LeaseIncome $412.16M USD 1 Quarter
Rental (including reimbursable) LeaseIncome $354.04M USD 1 Quarter
Other OtherIncome $328.00K USD 1 Quarter
Other OtherIncome $2.18M USD 1 Quarter
Total revenue Revenues $414.34M USD 1 Quarter
Total revenue Revenues $354.37M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $137.52M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $164.59M USD 1 Quarter
Interest InterestExpense $75.92M USD 1 Quarter
Interest InterestExpense $70.02M USD 1 Quarter
Property (including reimbursable) DirectCostsOfLeasedAndRentedPropertyOrEquipmentIncludingReimbursableExpense $21.64M USD 1 Quarter
Property (including reimbursable) DirectCostsOfLeasedAndRentedPropertyOrEquipmentIncludingReimbursableExpense $25.61M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $20.96M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $15.11M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $1.45M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $2.76M USD 1 Quarter
Provisions for impairment ImpairmentOfRealEstate $4.48M USD 1 Quarter
Provisions for impairment ImpairmentOfRealEstate $4.67M USD 1 Quarter
Total expenses ExpensesIncludingIncomeTaxExpense $250.40M USD 1 Quarter
Total expenses ExpensesIncludingIncomeTaxExpense $294.32M USD 1 Quarter
Gain on sales of real estate GainLossOnSaleOfProperties $7.26M USD 1 Quarter
Gain on sales of real estate GainLossOnSaleOfProperties $38.51M USD 1 Quarter
Foreign currency and derivative losses, net GainLossOnForeignCurrencyAndDerivative - USD 1 Quarter
Foreign currency and derivative losses, net GainLossOnForeignCurrencyAndDerivative $-1.56M USD 1 Quarter
Loss on extinguishment of debt GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Loss on extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-9.82M USD 1 Quarter
Net income ProfitLoss $147.14M USD 1 Quarter
Net income ProfitLoss $111.23M USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $316.00K USD 1 Quarter
Net income attributable to noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $288.00K USD 1 Quarter
Net income available to common stockholders NetIncomeLoss $110.94M USD 1 Quarter
Net income available to common stockholders NetIncomeLoss $146.83M USD 1 Quarter
Net income, basic and diluted (in dollars per share) EarningsPerShareBasicAndDiluted $0.37 USD 1 Quarter
Net income, basic and diluted (in dollars per share) EarningsPerShareBasicAndDiluted $0.44 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 303.53M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 336.62M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 336.98M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 303.82M shares 1 Quarter
Net income available to common stockholders NetIncomeLoss $110.94M USD 1 Quarter
Net income available to common stockholders NetIncomeLoss $146.83M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent - USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $392.00K USD 1 Quarter
Unrealized loss on derivatives, net OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $-25.86M USD 1 Quarter
Unrealized loss on derivatives, net OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $-3.70M USD 1 Quarter
Comprehensive income available to common stockholders ComprehensiveIncomeNetOfTax $121.36M USD 1 Quarter
Comprehensive income available to common stockholders ComprehensiveIncomeNetOfTax $107.24M USD 1 Quarter
Cash Flow Statement 80 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $147.14M USD 1 Quarter
Net income ProfitLoss $111.23M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $137.52M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $164.59M USD 1 Quarter
Amortization of share-based compensation ShareBasedCompensation $2.76M USD 1 Quarter
Amortization of share-based compensation ShareBasedCompensation $5.52M USD 1 Quarter
Non-cash revenue adjustments OtherNoncashIncome $2.12M USD 1 Quarter
Non-cash revenue adjustments OtherNoncashIncome $1.35M USD 1 Quarter
Loss on extinguishment of debt GainsLossesOnExtinguishmentOfDebt $-9.82M USD 1 Quarter
Loss on extinguishment of debt GainsLossesOnExtinguishmentOfDebt - USD 1 Quarter
Amortization of net premiums on mortgages payable AccretionAmortizationOfDiscountsAndPremiumsInvestments $354.00K USD 1 Quarter
Amortization of net premiums on mortgages payable AccretionAmortizationOfDiscountsAndPremiumsInvestments $354.00K USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $2.58M USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $1.96M USD 1 Quarter
Loss on interest rate swaps UnrealizedGainLossOnDerivatives $-686.00K USD 1 Quarter
Loss on interest rate swaps UnrealizedGainLossOnDerivatives $-678.00K USD 1 Quarter
Foreign currency and derivative losses, net GainLossOnForeignCurrencyAndDerivative - USD 1 Quarter
Foreign currency and derivative losses, net GainLossOnForeignCurrencyAndDerivative $-1.56M USD 1 Quarter
Gain on sales of real estate GainLossOnSaleOfProperties $7.26M USD 1 Quarter
Gain on sales of real estate GainLossOnSaleOfProperties $38.51M USD 1 Quarter
Provisions for impairment on real estate ImpairmentOfRealEstate $4.48M USD 1 Quarter
Provisions for impairment on real estate ImpairmentOfRealEstate $4.67M USD 1 Quarter
Accounts receivable and other assets IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets $6.18M USD 1 Quarter
Accounts receivable and other assets IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets $-3.00M USD 1 Quarter
Accounts payable, accrued expenses and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-33.95M USD 1 Quarter
Accounts payable, accrued expenses and other liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-30.87M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $212.03M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $265.22M USD 1 Quarter
Investment in real estate PaymentsToAcquireCommercialRealEstate $473.25M USD 1 Quarter
Investment in real estate PaymentsToAcquireCommercialRealEstate $517.98M USD 1 Quarter
Improvements to real estate, including leasing costs PaymentsForCapitalImprovements $3.00M USD 1 Quarter
Improvements to real estate, including leasing costs PaymentsForCapitalImprovements $3.66M USD 1 Quarter
Proceeds from sales of real estate ProceedsFromSaleOfRealEstateHeldforinvestment $126.23M USD 1 Quarter
Proceeds from sales of real estate ProceedsFromSaleOfRealEstateHeldforinvestment $22.46M USD 1 Quarter
Insurance and other proceeds received ProceedsFromInsuranceSettlementInvestingActivities $539.00K USD 1 Quarter
Insurance and other proceeds received ProceedsFromInsuranceSettlementInvestingActivities - USD 1 Quarter
Non-refundable escrow deposits PaymentsForDepositsOnRealEstateAcquisitions - USD 1 Quarter
Non-refundable escrow deposits PaymentsForDepositsOnRealEstateAcquisitions $1.28M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-498.51M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-351.41M USD 1 Quarter
Cash distributions to common stockholders PaymentsOfDividendsCommonStock $233.82M USD 1 Quarter
Cash distributions to common stockholders PaymentsOfDividendsCommonStock $204.55M USD 1 Quarter
Borrowings on line of credit ProceedsFromLongTermLinesOfCredit $732.00M USD 1 Quarter
Borrowings on line of credit ProceedsFromLongTermLinesOfCredit $846.53M USD 1 Quarter
Payments on line of credit RepaymentsOfLongTermLinesOfCredit $146.00M USD 1 Quarter
Payments on line of credit RepaymentsOfLongTermLinesOfCredit $921.86M USD 1 Quarter
Principal payment on term loan RepaymentsOfUnsecuredDebt $70.00M USD 1 Quarter
Principal payment on term loan RepaymentsOfUnsecuredDebt - USD 1 Quarter
Principal payment on notes payable RepaymentsOfNotesPayable $250.00M USD 1 Quarter
Principal payment on notes payable RepaymentsOfNotesPayable - USD 1 Quarter
Principal payments on mortgages payable RepaymentsOfSecuredDebt $1.24M USD 1 Quarter
Principal payments on mortgages payable RepaymentsOfSecuredDebt $1.67M USD 1 Quarter
Payments upon extinguishment of debt PaymentsOfDebtExtinguishmentCosts - USD 1 Quarter
Payments upon extinguishment of debt PaymentsOfDebtExtinguishmentCosts $9.45M USD 1 Quarter
Proceeds from common stock offerings, net ProceedsFromIssuanceOfCommonStock $728.88M USD 1 Quarter
Proceeds from common stock offerings, net ProceedsFromIssuanceOfCommonStock - USD 1 Quarter
Proceeds from dividend reinvestment and stock purchase plan ProceedsFromDividendReinvestmentAndStockPurchasePlanNet $2.16M USD 1 Quarter
Proceeds from dividend reinvestment and stock purchase plan ProceedsFromDividendReinvestmentAndStockPurchasePlanNet $2.37M USD 1 Quarter
Redemption of common units PaymentsForRepurchaseOfRedeemableNoncontrollingInterest - USD 1 Quarter
Redemption of common units PaymentsForRepurchaseOfRedeemableNoncontrollingInterest $20.23M USD 1 Quarter
Distributions to noncontrolling interests DistributionMadeToLimitedPartnerCashDistributionsPaid $321.00K USD 1 Quarter
Distributions to noncontrolling interests DistributionMadeToLimitedPartnerCashDistributionsPaid $394.00K USD 1 Quarter
Net receipts on derivative settlements ProceedsFromHedgeFinancingActivities $1.25M USD 1 Quarter
Net receipts on derivative settlements ProceedsFromHedgeFinancingActivities - USD 1 Quarter
Other items, including shares withheld upon vesting ProceedsFromPaymentsForOtherFinancingActivities $-4.09M USD 1 Quarter
Other items, including shares withheld upon vesting ProceedsFromPaymentsForOtherFinancingActivities $-6.56M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $155.28M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $287.75M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents - USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-2.93M USD 1 Quarter
Net increase in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $66.15M USD 1 Quarter
Net increase in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $1.26M USD 1 Quarter
Cash, cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $137.16M USD Point-in-time
Cash, cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $21.07M USD Point-in-time
Cash, cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $71.00M USD Point-in-time
Cash, cash equivalents and restricted cash, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $22.33M USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $22.33M USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $137.16M USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $71.00M USD Point-in-time
Cash, cash equivalents and restricted cash, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $21.07M USD Point-in-time
Stockholders Equity 20 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $10.42B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $8.12B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $8.01B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $9.80B USD Point-in-time
Net income ProfitLoss $147.14M USD 1 Quarter
Net income ProfitLoss $111.23M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-25.47M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-3.70M USD 1 Quarter
Distributions paid and payable DividendsCash $206.34M USD 1 Quarter
Distributions paid and payable DividendsCash $238.40M USD 1 Quarter
Share issuances, net of costs StockIssuedDuringPeriodValueNewIssues $2.15M USD 1 Quarter
Share issuances, net of costs StockIssuedDuringPeriodValueNewIssues $730.78M USD 1 Quarter
Issuance of common partnership units NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance $6.29M USD 1 Quarter
Redemption of common units MinorityInterestDecreaseFromRedemptions $20.23M USD 1 Quarter
Share-based compensation, net AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $1.31M USD 1 Quarter
Share-based compensation, net AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $570.00K USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $8.01B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $10.42B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $8.12B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $9.80B USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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