Global Net Lease Inc

For the period ended Mar 31, 2024. Filed May 8, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 8, 2024

GNL$6.85-0.3%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets as of March and December 31,

PART I — FINANCIAL INFORMATION

Item 1. Financial Statements.

CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share data)

	March 31,2024	December 31,2023
ASSETS
Real estate investments, at cost (Note 4):
Land	$1,416,109	$1,430,607
Buildings, fixtures and improvements	5,819,563	5,842,314
Construction in progress	1,887	23,242
Acquired intangible lease assets	1,248,937	1,359,981
Total real estate investments, at cost	8,486,496	8,656,144
Less accumulated depreciation and amortization	(1,068,106)	(1,083,824)
Total real estate investments, net	7,418,390	7,572,320
Assets held for sale	14,047	3,188
Cash and cash equivalents	131,880	121,566
Restricted cash	51,817	40,833
Derivative assets, at fair value (Note 9)	12,144	10,615
Unbilled straight-line rent	86,995	84,254
Operating lease right-of-use asset (Note 11)	75,475	77,008
Prepaid expenses and other assets	110,706	121,997
Deferred tax assets	4,791	4,808
Goodwill	48,540	46,976
Deferred financing costs, net	14,011	15,412
Total Assets	$7,968,796	$8,098,977
LIABILITIES AND EQUITY
Mortgage notes payable, net (Note 5)	$2,481,263	$2,517,868
Revolving credit facility (Note 6)	1,760,182	1,744,182
Senior notes, net (Note 7)	890,879	886,045
Acquired intangible lease liabilities, net	92,823	95,810
Derivative liabilities, at fair value (Note 9)	3,705	5,145
Accounts payable and accrued expenses	100,963	99,014
Operating lease liability (Note 11)	47,704	48,369
Prepaid rent	47,534	46,213
Deferred tax liability	5,718	6,009
Dividends payable	11,357	11,173
Total Liabilities	5,442,128	5,459,828
Commitments and contingencies (Note 11)	—	—
Stockholders’ Equity (Note 10):
7.25% Series A cumulative redeemable preferred stock, $0.01 par value, liquidation preference $25.00 per share, 9,959,650 shares authorized, 6,799,467 shares issued and outstanding as of March 31, 2024 and December 31, 2023	68	68
6.875% Series B cumulative redeemable perpetual preferred stock, $0.01 par value, liquidation preference $25.00 per share, 11,450,000 shares authorized, 4,695,887 shares issued and outstanding as of March 31, 2024 and December 31, 2023	47	47
7.500% Series D cumulative redeemable perpetual preferred stock, $0.01 par value, liquidation preference $25.00 per share, 7,933,711 shares authorized, issued and outstanding as of March 31, 2024 and December 31, 2023	79	79
7.375% Series E cumulative redeemable perpetual preferred stock, $0.01 par value, liquidation preference $25.00 per share, 4,595,175 shares authorized, issued and outstanding as of March 31, 2024 and December 31, 2023	46	46
Common Stock, $0.01 par value, 250,000,000 shares authorized, 230,846,571 and 230,885,197 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	3,639	3,639
Additional paid-in capital	4,351,577	4,350,112
Accumulated other comprehensive loss	(11,844)	(14,096)
Accumulated deficit	(1,818,753)	(1,702,143)
Total Stockholders’ Equity	2,524,859	2,637,752
Non-controlling interest	1,809	1,397
Total Equity	2,526,668	2,639,149
Total Liabilities and Equity	$7,968,796	$8,098,977

ContentsView on SEC.gov

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