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10-Q Filing

GLOBAL NET LEASE, INC. CIK: 1526113 Q1 2014
Filing Information
Form Type 10-Q
Accession Number 0001526113-14-000015
Period End Date 20140331
Filing Date 20140515
Fiscal Year 2014
Fiscal Period Q1
XBRL Instance ck0001526113-20140331.xml
Filing Contents
Balance Sheet 80 line items
Line Item Tag Value Unit Period
Preferred stock, par value (usd per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, par value (usd per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, authorized PreferredStockSharesAuthorized 50.00M shares Point-in-time
Preferred stock, authorized PreferredStockSharesAuthorized 50.00M shares Point-in-time
Preferred stock, issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Preferred stock, outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Common stock, par value (usd per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value (usd per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Land RealEstateAndAccumulatedDepreciationInitialCostOfLand $44.65M USD Point-in-time
Common stock, par value (usd per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Land RealEstateAndAccumulatedDepreciationInitialCostOfLand $81.23M USD Point-in-time
Buildings, fixtures and improvements RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements $253.25M USD Point-in-time
Common stock, authorized CommonStockSharesAuthorized 150.00M shares Point-in-time
Common stock, authorized CommonStockSharesAuthorized 300.00M shares Point-in-time
Common stock, authorized CommonStockSharesAuthorized 300.00M shares Point-in-time
Buildings, fixtures and improvements RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements $104.36M USD Point-in-time
Common stock, issued CommonStockSharesIssued 15.67M shares Point-in-time
Acquired intangible lease assets FiniteLivedIntangibleAssetAcquiredInPlaceLeases $175.99M USD Point-in-time
Common stock, issued CommonStockSharesIssued 69.20M shares Point-in-time
Acquired intangible lease assets FiniteLivedIntangibleAssetAcquiredInPlaceLeases $47.90M USD Point-in-time
Total real estate investments, at cost RealEstateInvestmentPropertyAtCost $196.91M USD Point-in-time
Common stock, outstanding CommonStockSharesOutstanding 15.67M shares Point-in-time
Common stock, outstanding CommonStockSharesOutstanding 69.20M shares Point-in-time
Total real estate investments, at cost RealEstateInvestmentPropertyAtCost $510.48M USD Point-in-time
Less accumulated depreciation and amortization RealEstateInvestmentPropertyAccumulatedDepreciation $6.92M USD Point-in-time
Less accumulated depreciation and amortization RealEstateInvestmentPropertyAccumulatedDepreciation $2.31M USD Point-in-time
Total real estate investments, net RealEstateInvestmentPropertyNet $194.60M USD Point-in-time
Total real estate investments, net RealEstateInvestmentPropertyNet $503.55M USD Point-in-time
Cash and cash equivalents Cash $6.36M USD Point-in-time
Cash and cash equivalents Cash $262.00K USD Point-in-time
Cash and cash equivalents Cash $11.50M USD Point-in-time
Cash and cash equivalents Cash $280.38M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $2.29M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalents $737.00K USD Point-in-time
Derivatives, at fair value DerivativeAssets $555.00K USD Point-in-time
Derivatives, at fair value DerivativeAssets $734.00K USD Point-in-time
Receivable for sale of common stock CommonStockShareSubscribedButUnissuedSubscriptionsReceivable $12.40M USD Point-in-time
Receivable for sale of common stock CommonStockShareSubscribedButUnissuedSubscriptionsReceivable $1.77M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $16.06M USD Point-in-time
Prepaid expenses and other assets PrepaidExpenseAndOtherAssets $3.45M USD Point-in-time
Deferred offering costs, net DeferredCostsCurrentAndNoncurrent $4.76M USD Point-in-time
Deferred offering costs, net DeferredCostsCurrentAndNoncurrent $2.13M USD Point-in-time
Total assets Assets $214.93M USD Point-in-time
Total assets Assets $819.99M USD Point-in-time
Mortgage notes payable SecuredDebt $76.90M USD Point-in-time
Mortgage notes payable SecuredDebt $171.00M USD Point-in-time
Mortgage premium, net PremiumonMortgageNotesAssumed $1.66M USD Point-in-time
Mortgage premium, net PremiumonMortgageNotesAssumed $1.54M USD Point-in-time
Note payable NotesPayable - USD Point-in-time
Note payable NotesPayable $12.81M USD Point-in-time
Credit Facility LineOfCredit - USD Point-in-time
Credit Facility LineOfCredit $36.29M USD Point-in-time
Below-market lease liability, net OffMarketLeaseUnfavorable $5.85M USD Point-in-time
Below-market lease liability, net OffMarketLeaseUnfavorable $6.65M USD Point-in-time
Derivatives, at fair value DerivativeFairValueOfDerivativeLiability $5.33M USD Point-in-time
Derivatives, at fair value DerivativeFairValueOfDerivativeLiability $2.56M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $2.52M USD Point-in-time
Accounts payable and accrued expenses AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent $6.61M USD Point-in-time
Deferred rent DeferredRevenueLeasesGross $1.86M USD Point-in-time
Deferred rent DeferredRevenueLeasesGross $4.84M USD Point-in-time
Distributions payable DividendsPayableCurrentAndNoncurrent $840.00K USD Point-in-time
Distributions payable DividendsPayableCurrentAndNoncurrent $3.60M USD Point-in-time
Total liabilities Liabilities $248.68M USD Point-in-time
Total liabilities Liabilities $92.21M USD Point-in-time
Preferred stock, $0.01 par value, 50,000,000 authorized, none issued and outstanding at March 31, 2014 and December 31, 2013 PreferredStockValue - USD Point-in-time
Preferred stock, $0.01 par value, 50,000,000 authorized, none issued and outstanding at March 31, 2014 and December 31, 2013 PreferredStockValue - USD Point-in-time
Common stock, $0.01 par value, 300,000,000 shares authorized, 69,200,090 and 15,665,827 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively CommonStockValue $157.00K USD Point-in-time
Common stock, $0.01 par value, 300,000,000 shares authorized, 69,200,090 and 15,665,827 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively CommonStockValue $692.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $133.59M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $606.35M USD Point-in-time
Accumulated other comprehensive (loss) income AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.29M USD Point-in-time
Accumulated other comprehensive (loss) income AccumulatedOtherComprehensiveIncomeLossNetOfTax $319.00K USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-34.42M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-11.35M USD Point-in-time
Total stockholders' equity StockholdersEquity $571.32M USD Point-in-time
Total stockholders' equity StockholdersEquity $122.72M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $819.99M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $214.93M USD Point-in-time
Income Statement 41 line items
Line Item Tag Value Unit Period
Rental income OperatingLeasesIncomeStatementLeaseRevenue $7.32M USD 1 Quarter
Rental income OperatingLeasesIncomeStatementLeaseRevenue $42.00K USD 1 Quarter
Operating expense reimbursements TenantReimbursements $232.00K USD 1 Quarter
Operating expense reimbursements TenantReimbursements $3.00K USD 1 Quarter
Total revenues Revenues $7.55M USD 1 Quarter
Total revenues Revenues $45.00K USD 1 Quarter
Property operating DirectCostsOfLeasedAndRentedPropertyOrEquipment $233.00K USD 1 Quarter
Property operating DirectCostsOfLeasedAndRentedPropertyOrEquipment - USD 1 Quarter
Operating fees to affiliate AssetManagementCosts $63.00K USD 1 Quarter
Operating fees to affiliate AssetManagementCosts - USD 1 Quarter
Acquisition and transaction related BusinessCombinationAcquisitionRelatedCosts - USD 1 Quarter
Acquisition and transaction related BusinessCombinationAcquisitionRelatedCosts $16.52M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $4.00K USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $976.00K USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $4.35M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $30.00K USD 1 Quarter
Total expenses OperatingExpenses $22.14M USD 1 Quarter
Total expenses OperatingExpenses $34.00K USD 1 Quarter
Operating (loss) income OperatingIncomeLoss $-14.60M USD 1 Quarter
Operating (loss) income OperatingIncomeLoss $11.00K USD 1 Quarter
Interest expense InterestExpense $13.00K USD 1 Quarter
Interest expense InterestExpense $1.69M USD 1 Quarter
Gains on foreign currency ForeignCurrencyTransactionGainLossBeforeTax - USD 1 Quarter
Gains on foreign currency ForeignCurrencyTransactionGainLossBeforeTax $6.00K USD 1 Quarter
Loss on derivative instruments GainLossOnDerivativeInstrumentsNetPretax - USD 1 Quarter
Loss on derivative instruments GainLossOnDerivativeInstrumentsNetPretax $-79.00K USD 1 Quarter
Other income OtherNonoperatingIncome $8.00K USD 1 Quarter
Other income OtherNonoperatingIncome - USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-1.75M USD 1 Quarter
Total other expense NonoperatingIncomeExpense $-13.00K USD 1 Quarter
Net loss NetIncomeLoss $-16.35M USD 1 Quarter
Net loss NetIncomeLoss $-2.00K USD 1 Quarter
Cumulative translation adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $1.25M USD 1 Quarter
Cumulative translation adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $-80.00K USD 1 Quarter
Designated derivatives, fair value adjustments OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-2.86M USD 1 Quarter
Designated derivatives, fair value adjustments OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $104.00K USD 1 Quarter
Comprehensive (loss) income ComprehensiveIncomeNetOfTax $22.00K USD 1 Quarter
Comprehensive (loss) income ComprehensiveIncomeNetOfTax $-17.96M USD 1 Quarter
Basic and diluted weighted average shares outstanding WeightedAverageNumberOfShareOutstandingBasicAndDiluted 439,097.00 shares 1 Quarter
Basic and diluted weighted average shares outstanding WeightedAverageNumberOfShareOutstandingBasicAndDiluted 37.60M shares 1 Quarter
Basic and diluted net loss per share (usd per share) EarningsPerShareBasicAndDiluted $-0.43 USD 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net loss NetIncomeLoss $-16.35M USD 1 Quarter
Net loss NetIncomeLoss $-2.00K USD 1 Quarter
Depreciation Depreciation $2.40M USD 1 Quarter
Depreciation Depreciation $17.00K USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $13.00K USD 1 Quarter
Amortization of intangibles AmortizationOfIntangibleAssets $1.96M USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $2.00K USD 1 Quarter
Amortization of deferred financing costs AmortizationOfFinancingCosts $308.00K USD 1 Quarter
Amortization of mortgage premium AmortizationOfDebtDiscountPremium - USD 1 Quarter
Amortization of mortgage premium AmortizationOfDebtDiscountPremium $-124.00K USD 1 Quarter
Accretion of below-market lease liability and amortization of above-market lease assets, net AccretionOfBelowMarketLeaseLiabilitiesAndAmortizationOfAboveMarketLeaseAssetsNet $12.00K USD 1 Quarter
Accretion of below-market lease liability and amortization of above-market lease assets, net AccretionOfBelowMarketLeaseLiabilitiesAndAmortizationOfAboveMarketLeaseAssetsNet $66.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $4.00K USD 1 Quarter
Share-based compensation ShareBasedCompensation $5.00K USD 1 Quarter
Net realized and unrealized mark-to-market transactions NetRealizedandUnrealizedGainLossonMarktoMarket $81.00K USD 1 Quarter
Net realized and unrealized mark-to-market transactions NetRealizedandUnrealizedGainLossonMarktoMarket - USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-48.00K USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $11.75M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $3.54M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $63.00K USD 1 Quarter
Deferred rent IncreaseDecreaseInDeferredRevenue $2.97M USD 1 Quarter
Deferred rent IncreaseDecreaseInDeferredRevenue $49.00K USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $206.00K USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $-16.89M USD 1 Quarter
Investment in real estate and other assets PaymentsToAcquireRealEstate $218.68M USD 1 Quarter
Investment in real estate and other assets PaymentsToAcquireRealEstate - USD 1 Quarter
Deposits for real estate acquisitions PaymentsForDepositsOnRealEstateAcquisitions - USD 1 Quarter
Deposits for real estate acquisitions PaymentsForDepositsOnRealEstateAcquisitions $1.32M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-220.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities - USD 1 Quarter
Net borrowings under credit facility ProceedsFromLinesOfCredit $36.29M USD 1 Quarter
Net borrowings under credit facility ProceedsFromLinesOfCredit - USD 1 Quarter
Proceeds from note payable ProceedsFromNotesPayable - USD 1 Quarter
Proceeds from note payable ProceedsFromNotesPayable $12.81M USD 1 Quarter
Payments on mortgage notes payable RepaymentsOfSecuredDebt $174.00K USD 1 Quarter
Payments on mortgage notes payable RepaymentsOfSecuredDebt - USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $7.24M USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $685.41M USD 11 Qtrs
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $518.74M USD 1 Quarter
Proceeds from issuance of common stock ProceedsFromIssuanceOfCommonStock $154.20M USD 10 Qtrs
Payments of offering costs PaymentsOfStockIssuanceCosts $1.14M USD 1 Quarter
Payments of offering costs PaymentsOfStockIssuanceCosts $56.80M USD 1 Quarter
Payments of deferred financing costs PaymentsOfFinancingCosts $2.93M USD 1 Quarter
Payments of deferred financing costs PaymentsOfFinancingCosts - USD 1 Quarter
Distributions paid PaymentsOfDividends $46.00K USD 1 Quarter
Distributions paid PaymentsOfDividends $2.03M USD 1 Quarter
Advances from affiliates, net ProceedsFromContributionsFromAffiliates $-157.00K USD 1 Quarter
Advances from affiliates, net ProceedsFromContributionsFromAffiliates $459.00K USD 1 Quarter
Restricted cash IncreaseDecreaseInRestrictedCash - USD 1 Quarter
Restricted cash IncreaseDecreaseInRestrictedCash $1.55M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $504.82M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $5.89M USD 1 Quarter
Net change in cash and cash equivalents CashPeriodIncreaseDecrease $6.10M USD 1 Quarter
Net change in cash and cash equivalents CashPeriodIncreaseDecrease $267.93M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $-1.00K USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $949.00K USD 1 Quarter
Cash and cash equivalents, beginning of period Cash $6.36M USD Point-in-time
Cash and cash equivalents, beginning of period Cash $262.00K USD Point-in-time
Cash and cash equivalents, beginning of period Cash $11.50M USD Point-in-time
Cash and cash equivalents, beginning of period Cash $280.38M USD Point-in-time
Cash and cash equivalents, end of period Cash $6.36M USD Point-in-time
Cash and cash equivalents, end of period Cash $262.00K USD Point-in-time
Cash and cash equivalents, end of period Cash $11.50M USD Point-in-time
Cash and cash equivalents, end of period Cash $280.38M USD Point-in-time
Cash paid for interest InterestPaid $12.00K USD 1 Quarter
Cash paid for interest InterestPaid $78.00K USD 1 Quarter
Mortgage note payable used to acquire investments in real estate MortgageNotesPayableSecuredInConnectionWithAcquisitionOfRealEstate $93.95M USD 1 Quarter
Mortgage note payable used to acquire investments in real estate MortgageNotesPayableSecuredInConnectionWithAcquisitionOfRealEstate - USD 1 Quarter
Common stock issued through distribution reinvestment plan StockIssuedDuringPeriodValueDividendReinvestmentPlan $3.00K USD 1 Quarter
Common stock issued through distribution reinvestment plan StockIssuedDuringPeriodValueDividendReinvestmentPlan $1.94M USD 1 Quarter
Stockholders Equity 14 line items
Line Item Tag Value Unit Period
Beginning Balance StockholdersEquity $571.32M USD Point-in-time
Beginning Balance StockholdersEquity $122.72M USD Point-in-time
Issuance of common stock StockIssuedDuringPeriodValueNewIssues $529.37M USD 1 Quarter
Common stock offering costs, commissions and dealer manager fees AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts $57.93M USD 1 Quarter
Redemptions StockRedeemedOrCalledDuringPeriodValue $102.00K USD 1 Quarter
Common stock issued through distribution reinvestment plan StockIssuedDuringPeriodValueDividendReinvestmentPlan $3.00K USD 1 Quarter
Common stock issued through distribution reinvestment plan StockIssuedDuringPeriodValueDividendReinvestmentPlan $1.94M USD 1 Quarter
Share-based compensation StockIssuedDuringPeriodValueShareBasedCompensation $5.00K USD 1 Quarter
Distributions declared Dividends $6.73M USD 1 Quarter
Net loss NetIncomeLoss $-16.35M USD 1 Quarter
Net loss NetIncomeLoss $-2.00K USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $-1.61M USD 1 Quarter
Ending Balance StockholdersEquity $571.32M USD Point-in-time
Ending Balance StockholdersEquity $122.72M USD Point-in-time

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

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