Agree realty corporation (ADC)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Revenues
Rental Income

187,279

136,884

110,685

84,031

64,278

49,403

40,895

32,568

27,418

24,667

25,689

Percentage rents

-

-

-

197

180

160

36

24

30

34

15

Operating cost reimbursement

-

-

-

7,267

5,277

3,825

2,567

1,970

1,768

2,032

2,506

Other

199

238

832

32

231

171

19

59

150

97

30

Development fee income

-

-

-

-

-

-

-

-

894

589

409

Total Revenues

187,478

137,122

111,517

91,527

69,966

53,559

43,517

34,624

30,263

27,422

28,651

Operating Expenses
Real estate taxes

15,520

10,721

8,204

5,459

4,005

2,766

2,035

1,785

1,699

1,533

1,891

Property operating expenses

6,749

5,645

3,610

2,484

1,768

1,679

1,192

967

1,048

1,110

1,466

Land lease expense

1,200

600

700

653

606

471

427

574

721

476

387

General and administrative

15,566

11,756

9,428

7,862

6,988

6,629

5,952

5,681

5,661

5,003

4,559

Depreciation and amortization

45,703

33,030

26,661

23,407

16,486

11,103

8,489

6,240

5,199

4,333

4,523

Provision for impairment

1,600

2,300

0

0

-

3,020

0

0

-

-

0

Impairment charge

-

-

-

-

-

-

-

-

600

6,160

-

Total Operating Expenses

86,389

64,116

48,556

39,865

29,853

25,668

18,098

15,250

14,930

18,617

12,827

Income from Operations

101,089

73,006

62,961

51,662

40,113

27,891

25,419

19,373

15,332

8,805

15,824

Other (Expense) Income
Interest expense, net

33,094

24,872

18,137

15,343

12,305

8,587

6,474

5,134

3,956

3,460

-3,309

Gain (loss) on sale of assets, net

13,306

11,180

14,193

9,964

12,135

-528

0

0

-

-

-

Income tax (expense) benefit

538

516

227

153

-

-

-

-

-

-

-

Loss on debt extinguishment

-

-

-

-333

-181

0

0

-

2,360

0

0

Other (expense) income

-

-

-

-

0

-

-

-

-

-

-

Income From Continuing Operations

-

-

-

-

-

18,776

18,944

14,239

13,736

5,344

12,514

Gain on sale of assets from discontinued operations

-

-

-

-

-

123

946

2,097

110

4,737

0

Income from discontinued operations

-

-

-

-

-

14

298

2,266

-3,956

5,545

5,479

Net Income

80,763

58,798

58,790

45,797

39,762

18,913

20,189

18,603

9,889

15,627

17,994

Less Net Income Attributable to Non-Controlling Interest

682

626

678

679

744

425

515

554

338

561

950

Net Income Attributable to Agree Realty Corporation

80,081

58,172

58,112

45,118

39,018

18,488

19,674

18,049

9,551

15,066

17,043

Net Income Per Share Attributable to Agree Realty Corporation
Continuing operations (in dollars per share)

-

-

-

-

-

1.23

1.41

1.25

1.38

0.57

1.50

Discontinued operations (in dollars per share)

-

-

-

-

-

0.01

0.10

0.38

-0.39

1.08

0.65

Basic

1.96

1.80

2.09

1.97

2.17

1.24

1.51

1.63

0.99

1.65

2.15

Continuing operations (in dollars per share)

-

-

-

-

-

1.23

1.40

1.24

1.37

0.56

1.49

Discontinued operations (in dollars per share)

-

-

-

-

-

0.01

0.10

0.38

-0.38

1.08

0.65

Diluted

1.93

1.78

2.08

1.97

2.16

1.24

1.50

1.62

0.99

1.64

2.14

Other Comprehensive Income
Net income

80,763

58,798

58,790

45,797

39,762

18,913

20,189

18,603

9,889

15,627

17,994

Changes in fair value of interest rate swaps

-8,775

54

1,935

2,618

-1,093

-2,584

1,812

-708

163

-718

-70

Realized gain (loss) on settlement of interest rate swaps

788

-

-

-

-

-

-

-

-

-

-

Total Comprehensive Income (Loss)

72,776

58,852

60,725

47,712

37,945

15,956

21,440

17,361

9,709

14,372

-

Comprehensive Income (Loss) Attributable to Agree Realty Corporation

72,165

58,221

60,023

48,415

38,669

16,329

22,002

17,895

10,053

14,909

16,973

Less Comprehensive Income Attributable to Non-Controlling Interest

611

631

702

703

724

373

561

533

-343

-536

-

Weighted Average Number of Common Shares Outstanding - Basic

40,577

32,070

27,625

22,868

18,003

14,882

13,065

11,071

9,637

9,155

-

Weighted Average Number of Common Shares Outstanding - Diluted

41,223

32,401

27,700

22,959

18,065

14,966

13,157

11,136

9,681

9,191

-