W. P. Carey Inc.

WPC 10-K · FY 2025

WPC FY 2025 request

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Income Statement

Income Statement
Metric FY 2025 FY 2024 YoY
Operating Lease Lease Income 1,479,204 1,331,788 +11.1%
Show Product Lines breakouts
Owned Real Estate [Member] 1,479,204 1,331,788 +11.1%
Income From Direct Financing Leases And Loans Receivables 90,948 73,262 +24.1%
Show Product Lines breakouts
Owned Real Estate [Member] 90,948 73,262 +24.1%
Revenue (FY)
Show Product Lines breakouts
Food And Beverage · Owned Real Estate [Member] 8.6 10.3 -16.5%
Hotel · Owned Real Estate [Member] 37.6 43 -12.6%
Management Service 4,957 6,597 -24.9%
Management Service · Affiliated Entity 4,957 6,597 -24.9%
Occupancy · Owned Real Estate [Member] 103.9 136.5 -23.9%
Other advisory income and reimbursements 4,284 4,224 +1.4%
Other advisory income and reimbursements · Affiliated Entity 4,000 4,000 0.0%
Owned Real Estate [Member] 112,531 146,813 -23.4%
Revenue From Reimbursements [Member] · Affiliated Entity 284 224 +26.8%
Show Business Segments breakouts
Owned Real Estate [Member] 112.5 146.8 -23.4%
Show Counterparty Name breakouts
CESH · Affiliated Entity 663 578 +14.7%
NLOP · Affiliated Entity 8,578 10,243 -16.3%
Show Related Party Transactions By Related Party breakouts
Affiliated Entity 9,241 10,821 -14.6%
Other Lease Related Income (FY)
Show Product Lines breakouts
Owned Real Estate [Member] 24,561 20,334 +20.8%
Revenue 1,716,485 1,583,018 +8.4%
Show Product Lines breakouts
Investment Management 9,241 10,821 -14.6%
Owned Real Estate [Member] 1,707,244 1,572,197 +8.6%
Show Business Segments breakouts
Owned Real Estate [Member] 1,716,485 1,583,018 +8.4%
Owned Real Estate [Member] · Non Us 623,873 569,801 +9.5%
Owned Real Estate [Member] · US 1,092,612 1,013,217 +7.8%
Depreciation And Amortization 521,127 487,724 +6.8%
General & Administrative 100,672 98,969 +1.7%
Impairment Of Real Estate 70,367 43,595 +61.4%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level3 · Fair Value Measurements Nonrecurring 70,367 43,595 +61.4%
Fair Value Inputs Level3 · Fifteen Impaired Properties 70.4
Reimbursable Tenant Expense 68,743 55,975 +22.8%
Operating Property Expenses 60,177 70,866 -15.1%
Occupancy Net 53,825 49,677 +8.3%
Allocated Stock Based Compensation Expense Excluding Restructuring Expense 39,894 40,894 -2.4%
Merger And Other Expenses Operating 2,247 4,457 -49.6%
Total Costs & Expenses 917,052 852,157 +7.6%
Interest Expense -291,256 -277,367 -5.0%
Show Equity Components breakouts
Accumulated Gain Loss Cash Flow Hedge Including Noncontrolling Interest · Reclassification Out Of Accumulated Other Comprehensive Income -453 -1,582 +71.4%
Show Reclassification Out Of Accumulated Other Comprehensive Income breakouts
Reclassification Out Of Accumulated Other Comprehensive Income -453 -1,582 +71.4%
Other Nonoperating Gains Losses -232,107 -137,988 -68.2%
Gain Loss On Sale Of Properties 193,793 74,822 +159.0%
Show Equity Components breakouts
Accumulated Foreign Currency Adjustment Including Portion Attributable To Noncontrolling Interest · Reclassification Out Of Accumulated Other Comprehensive Income -7,854
Show Real Estate And Accumulated Depreciation Description Of Property breakouts
Properties Located in Netherlands 6.4
Properties Located in Spain 19
Properties Located In Windsor 2.8
Show Reclassification Out Of Accumulated Other Comprehensive Income breakouts
Reclassification Out Of Accumulated Other Comprehensive Income -7,854
Income Loss From Equity Method Investments 18,009 17,926 +0.5%
Other Non-Operating Income (Expense) 16,951 52,236 -67.5%
Show Equity Components breakouts
Accumulated Gain Loss Cash Flow Hedge Including Noncontrolling Interest · Reclassification Out Of Accumulated Other Comprehensive Income 4,352 8,695 -49.9%
Show Reclassification Out Of Accumulated Other Comprehensive Income breakouts
Reclassification Out Of Accumulated Other Comprehensive Income 4,352 8,695 -49.9%
Non-Operating Income (Expense) -294,610 -238,522 -23.5%
Income Before Taxes 504,823 492,339 +2.5%
Income Tax Expense (Benefit) -31,908 -31,709 -0.6%
Net Income 472,915 460,630 +2.7%
Show Equity Components breakouts
Accumulated Distributions In Excess Of Net Income 466,359 460,839 +1.2%
Noncontrolling Interest 6,556 -209 +3236.8%
Parent 466,359 460,839 +1.2%
Net Income Loss Attributable To Noncontrolling Interest -6,556 209 -3236.8%
Net Income 466,359 460,839 +1.2%
Income Loss From Continuing Operations Per Basic Share 2.11 2.09 +1.0%
Income Loss From Continuing Operations Per Diluted Share 2.11 2.09 +1.0%
Wtd Avg Shares (Basic) 220,501,239 220,168,325 +0.2%
Wtd Avg Shares (Diluted) 221,112,343 220,520,457 +0.3%
Interest Income (FY)
Show Fair Value By Asset Class breakouts
Equity Method Investments 13.3 13.2 +0.8%
Comprehensive Income 463,245 465,474 -0.5%
Net Income Loss Available To Common Stockholders Basic 466,359 460,839 +1.2%

Balance Sheet

Balance Sheet
Metric FY 2025 FY 2024 YoY
Current Assets
Cash & Cash Equivalents 155,329 640,373 -75.7%
Non-Current Assets
Goodwill 987,071 967,843 +2.0%
Total Assets 17,990,232 17,535,024 +2.6%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 207,985 671,402 -69.0%
Operating Lease Right-of-Use Assets (Q)
Show Property Plant And Equipment By Type breakouts
Building 47,719 51,319 -7.0%
Land 123,242 115,156 +7.0%
Intangible Assets (Q)
Show Finite Lived Intangible Assets By Major Class breakouts
Above Market Leases 170,569 184,140 -7.4%
Contracts Including Internal Software Development [Member] 2,418 1,779 +35.9%
Lease Agreements 1,492,929 1,402,729 +6.4%
Leases Acquired In Place 1,322,360 1,218,589 +8.5%
Software Development 2,418 1,779 +35.9%
Other Assets
Real Estate Investment Property At Cost Real Estate Leased 14,451,306 12,842,869 +12.5%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 31,861 468,484 -93.2%
Real Estate Investment Property At Cost Operating Real Estate 286,079 1,198,676 -76.1%
Show Property Plant And Equipment By Type breakouts
Building And Building Improvements · Real estate operating business 260,414 1,053,805 -75.3%
Land · Real estate operating business 25,665 144,871 -82.3%
Net Investments In Direct Financing Leases And Loans Receivable 1,171,886 798,259 +46.8%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 178,076 144,103 +23.6%
Show Real Estate And Accumulated Depreciation Description Of Property breakouts
Concert Venue Located in Austin Texas And Portland Oregon 33.8
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Retail Complex In Las Vegas, Nevada [Member] · Construction Commitment 245.9
Finite Lived Intangible Asset Acquired In Place Leases Net 2,466,199 2,297,572 +7.3%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 3,620 67,764 -94.7%
Finite Lived Intangible Asset Off Market Lease Favorable Net 668,707 665,495 +0.5%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 1,685 3,757 -55.2%
Real Estate Investment Property At Cost 19,044,177 17,802,871 +7.0%
Real Estate Investment Property Accumulated Depreciation -3,578,330 -3,222,396 -11.0%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary -11,637 -19,391 +40.0%
Show Real Estate Properties breakouts
Real estate operating business -59,626 -100,575 +40.7%
Real Estate Investments Net Including Real Estate Held For Sale 3,327
Show Disposal Group Classification breakouts
Disposal Group Heldforsale Not Discontinued Operations 3.3
Show Property Plant And Equipment By Type breakouts
Land Buildings And Improvements 3,327
Real Estate Investments 15,469,174 14,580,475 +6.1%
Equity Method Investments 310,178 301,115 +3.0%
Show Business Segments breakouts
Owned Real Estate [Member] · Non Us 35,970 27,974 +28.6%
Owned Real Estate [Member] · Operating Segments 310,178 301,115 +3.0%
Owned Real Estate [Member] · US 274,208 273,141 +0.4%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 477.5 576.2 -17.1%
Show Counterparty Name breakouts
Third Party · Retail Complex In Las Vegas, Nevada [Member] 250.9
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
CESH · Affiliated Entity 1,238 1,201 +3.1%
Harmon Retail Corner · Affiliated Entity 23,641 24,169 -2.2%
Kesko Senukai · Affiliated Entity 34,732 26,773 +29.7%
Retail Complex In Las Vegas, Nevada [Member] · Affiliated Entity 250,567 248,972 +0.6%
Show Related Party Transaction breakouts
Affiliated Entity · Owned Real Estate [Member] 310,178 301,115 +3.0%
Other Assets 1,068,480 1,045,218 +2.2%
Show Related Party Transactions By Related Party breakouts
Affiliated Entity 996 1,089 -8.5%
Non-Current Liabilities
Long-Term Debt 8,722,690 8,039,002 +8.5%
Accounts Payable And Accrued Liabilities Current And Noncurrent 670,038 596,994 +12.2%
Deferred Tax Liabilities 151,820 147,461 +3.0%
Show Balance Sheet Location breakouts
Other Assets 33.2 17.6 +88.6%
Dividends Payable Current And Noncurrent 207,487 197,612 +5.0%
Total Liabilities 9,856,090 9,100,900 +8.3%
Show Consolidated Entities breakouts
Variable Interest Entity Primary Beneficiary 946 72,521 -98.7%
Other Liabilities
Senior Notes 6,950,261 6,505,907 +6.8%
Show Long-Term Debt Type breakouts
Senior Notes 6,950,261 6,505,907 +6.8%
Unsecured Debt 1,196,366 1,075,826 +11.2%
Line Of Credit 435,417 55,448 +685.3%
Show Currency breakouts
EUR · Unsecured Term Loans 215 215 0.0%
GBP · Unsecured Term Loans 270 270 0.0%
USD · Unsecured Revolving Credit Facility: 2 2 0.0%
Secured Debt 140,646 401,821 -65.0%
Show Mortgage Loans On Real Estate Loan Type breakouts
Non-Recourse Mortgage Loan 66
Below Market Lease Net 104,055 119,831 -13.2%
Accumulated Distributions In Excess Of Net Income -3,539,592 -3,203,974 -10.5%
Minority Interest 15,885 4,429 +258.7%
Stockholders' Equity
Common Stock 219 219 0.0%
Additional Paid-In Capital 11,830,737 11,805,179 +0.2%
Treasury Stock Deferred Employee Stock Ownership Plan 80,239 78,503 +2.2%
Show Award Type breakouts
Long Term Incentive Plan 80.2 78.5 +2.2%
Accumulated Other Comprehensive Income -253,346 -250,232 -1.2%
Total Stockholders' Equity 8,118,257 8,429,695 -3.7%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 8,134,142 8,434,124 -3.6%
Show Equity Components breakouts
Accumulated Distributions In Excess Of Net Income -3,539,592 -3,203,974 -10.5%
Accumulated Foreign Currency Adjustment Including Portion Attributable To Noncontrolling Interest -237,892 -270,506 +12.1%
Accumulated Gain Loss Cash Flow Hedge Including Noncontrolling Interest -15,454 20,274 -176.2%
Accumulated Other Comprehensive Income -253,346 -250,232 -1.2%
Additional Paid In Capital 11,830,737 11,805,179 +0.2%
Common Stock 219 219 0.0%
Deferred Compensation Obligation [Member] 80,239 78,503 +2.2%
Noncontrolling Interest 15,885 4,429 +258.7%
Parent 8,118,257 8,429,695 -3.7%
Total Liabilities & Equity 17,990,232 17,535,024 +2.6%

Cash Flow Statement

Cash Flow Statement
Metric FY 2025 FY 2024 YoY
Operating Activities
Depreciation Amortization And Accretion Net 537,645 507,101 +6.0%
Realized Gain Loss On Foreign Currency Transactions And Other 204,439 120,962 +69.0%
Straight Line Rent Adjustments -78,374 -83,094 +5.7%
Allocated Share Based Compensation Expense 39,894 40,894 -2.4%
Show Award Type breakouts
Employee Stock 0.1 0.1 0.0%
Provision For Loan Lease And Other Losses 27,186 27,629 -1.6%
Show Accounts Notes Loans And Financing Receivable By Receivable Type breakouts
Finance Receivables 2.3 16.2 -85.8%
Equity Method Investment Dividends Or Distributions 15,942 21,066 -24.3%
Show Real Estate Properties breakouts
Unconsolidated Properties · Owned Real Estate [Member] 21.3 22.1 -3.6%
Deferred Income Taxes -10,885 -4,245 -156.4%
Amortization Of Rent Related Intangibles And Deferred Rental Revenue 5,986 24,477 -75.5%
Proceeds From Sales Of Net Investments In Sales Type Leases Operating 200,168 806,812 -75.2%
Increase Decrease In Other Operating Capital Net 8,838 2,532 +249.1%
Net Cash from Operations 1,282,319 1,833,112 -30.0%
Investing Activities
Payments To Acquire Real Estate -1,657,339 -1,128,809 -46.8%
Show Mortgage Loans On Real Estate Description Type Of Property breakouts
Build to Suit · Delphos, Ohio -36
Expansion at Facility · Delphos, Ohio -2
Show Real Estate And Accumulated Depreciation Description Of Property breakouts
Blytheville, Arkansas · Operating lease liabilities -1.5
Blytheville, Arkansas · Use Rights -1.5
Show Finite Lived Intangible Assets By Major Class breakouts
Above Market Leases · Real Estate Subject to Operating Leases -14,059 -7.1 -197914.1%
Below-market rent · Real Estate Subject to Operating Leases -3,061
Leases Acquired In Place · Real Estate Subject to Operating Leases -252,165 -166.1 -151715.2%
Operating lease liabilities · Real Estate Subject to Operating Leases -2,296
Prepaid rent liabilities · Real Estate Subject to Operating Leases -23,715
Use Rights · Land -2,296 -4.3 -53295.3%
Show Property Plant And Equipment By Type breakouts
Below-market ground lease intangibles · Real Estate Subject to Operating Leases -1,495 -3.5 -42614.3%
Building And Building Improvements · Real Estate Subject to Operating Leases -995,255
Land · Real Estate Subject to Operating Leases -420,119 -219.4 -191385.4%
Show Real Estate Properties breakouts
Real Estate Subject to Operating Leases -1,656,317 -1.2 -138026316.7%
Proceeds From Sale Of Real Estate Heldforinvestment 1,280,180 409,487 +212.6%
Show Disposal Group Classification breakouts
Disposal Group Disposed Of By Sale Not Discontinued Operations 1.5 1.2 +25.0%
Disposal Group Disposed Of By Sale Not Discontinued Operations · Self Storage 772.2
Disposal Group Disposed Of By Sale Not Discontinued Operations · Student Housing 77.8
Payments To Acquire Loans Receivable -399,819 -270,380 -47.9%
Payments To Acquire Real Estate Under Construction -191,213 -135,327 -41.3%
Proceeds To V A T Refunded Connection With Acquisition Of Real Estate 47,731 34,801 +37.2%
Payment Of V A T Connection With Acquisition Of Real Estate -45,647 -56,509 +19.2%
Other Investing Activities 8,820 4,579 +92.6%
Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital 5,317 1,026 +418.2%
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts
Retail Complex In Las Vegas, Nevada [Member] · Construction Commitment 5
Payments To Acquire Equity Method Investments -5,000
Show Counterparty Name breakouts
Third Party · Retail Complex In Las Vegas, Nevada [Member] -3.2
Capital Contributions To Equity Method Investments -3,170 -16,760 +81.1%
Net Cash from Investing -960,140 -1,133,892 +15.3%
Financing Activities
Proceeds From Unsecured Lines Of Credit 3,115,158 1,229,189 +153.4%
Repayments Of Lines Of Credit -2,739,777 -1,566,439 -74.9%
Payments Of Dividends Common Stock -790,032 -765,146 -3.3%
Repayments Of Unsecured Debt -450,000 -1,044,500 +56.9%
Proceeds From Issuance Of Senior Long Term Debt 396,352 1,725,886 -77.0%
Repayments Of Secured Debt -274,572 -231,506 -18.6%
Show Long-Term Debt Type breakouts
Non-Recourse Debt -265.1 -181.3 -46.2%
Repayments Of Senior Debt -90,224
Proceeds From Issuance Of Unsecured Debt 86,224
Tax Withholding for Share Compensation -14,873 -6,950 -114.0%
Proceeds From Minority Shareholders 8,767 623 +1307.2%
Payments Of Dividends Minority Interest -7,563 -2,255 -235.4%
Payments Of Financing Costs -4,278 -14,559 +70.6%
Proceeds From Payments For Other Financing Activities 3,108 -12,811 +124.3%
Net Cash from Financing -761,710 -688,468 -10.6%
Supplemental
Income Taxes Paid 40,095 36.3 +110354.5%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 21,222 -12,022 +276.5%
Net Change in Cash -418,309 -1,270 -32837.7%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 272,392 690,701 -60.6%

Values in thousands USD. Source: SEC EDGAR 10-K filing.

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