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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Spirit Realty Capital Inc | NYSE:SRC | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 42.31 | 0 | 01:00:00 |
Maryland
(Spirit Realty Capital, Inc.)
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001-36004
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20-1676382
(Spirit Realty Capital, Inc.)
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Delaware
(Spirit Realty, L.P.)
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333-216815-01
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20-1127940
(Spirit Realty, L.P.)
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(State or other jurisdiction
of incorporation)
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(Commission File Number)
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(I.R.S. Employer
Identification No.)
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ITEM 8.01
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OTHER EVENTS
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•
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As previously disclosed, on May 31, 2018, Spirit completed the spin-off (the "Spin-Off") of the assets that collateralize Master Trust 2014, properties leased to Shopko, and certain other assets into an independent, publicly traded REIT, Spirit MTA REIT ("SMTA"). As a result of the Spin-Off, Spirit will present the assets and liabilities and results of operations of SMTA as discontinued operations. Under ASC 205-20,
Presentation of Financial Statements — Discontinued Operations
, in the period in which the discontinued-operations criteria are met, an entity must report the disposal in discontinued operations retrospectively in all periods presented. As a result, the assets and liabilities related to discontinued operations are separately classified on the consolidated balance sheets and the operations have been classified as income from discontinued operations on the consolidated statements of operations and comprehensive income.
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•
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In August 2016, the Financial Accounting Standards Board (the "FASB") issued ASU 2016-15,
Classification of Certain Cash Receipts and Cash Payments
, which addresses specific cash flow issues with the objective of reducing the existing diversity in practice. ASU 2016-15 requires retrospective adoption unless it is impracticable to apply, in which case it is to be applied prospectively as of the earliest date practicable. The Company and the Operating Partnership adopted ASU 2016-15 effective January 1, 2018 and have applied it retrospectively. As a result of adoption, debt prepayment and debt extinguishment costs, previously presented in operating activities, are now presented in financing activities in the consolidated statements of cash flows.
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•
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In November 2016, the FASB issued ASU 2016-18,
Statement of Cash Flows (Topic 230): Restricted Cash
. This guidance requires entities to include restricted cash and restricted cash equivalents within the cash and cash equivalents balances presented in the statement of cash flows. The new guidance is to be applied retrospectively. The Company and the Operating Partnership adopted ASU 2016-18 effective January 1, 2018 and have applied it retrospectively. As a result, restricted cash and restricted cash equivalents are included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the consolidated statements of cash flows.
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ITEM 9.01
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FINANCIAL STATEMENTS AND EXHIBITS
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23.1
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23.2
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99.1
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SPIRIT REALTY CAPITAL, INC.
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By:
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/s/ Prakash J. Parag
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Prakash J. Parag
Senior Vice President and Chief Accounting Officer
(Principal Accounting Officer)
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SPIRIT REALTY, L.P.
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By: Spirit General OP Holdings, LLC, as general partner of Spirit Realty, L.P.
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By:
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/s/ Prakash J. Parag
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Prakash J. Parag
Senior Vice President and Chief Accounting Officer
(Principal Accounting Officer)
|
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