ARMADA HOFFLER PROPERTIES, INC. AHH Income Statement

Armada hoffler properties, inc. (AHH)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Sep'13	Jun'13
Revenues
Rental revenues
162,719	151,339	140,238	126,948	119,168	116,958	113,881	112,047	110,204	108,737	107,599	105,808	103,304	99,355	94,610	90,608	86,265	81,172	76,922	72,332	67,743	64,746	62,124	59,642	0	0	0
General contracting and real estate services revenues
136,091	105,859	78,823	71,135	70,345	76,359	96,297	117,548	153,565	194,034	211,866	209,217	185,746	159,030	149,864	165,134	179,000	171,268	162,019	139,729	113,158	103,321	93,157	84,916	0	0	0
Total revenues
298,810	257,198	219,061	198,083	189,513	193,317	210,178	229,595	263,769	302,771	319,465	315,025	289,050	258,385	244,474	255,742	265,265	252,440	238,941	212,061	180,901	168,067	155,281	144,558	0	0	0
Expenses
Rental expenses
36,982	34,332	31,849	29,028	27,523	27,222	26,402	26,129	25,778	25,422	24,739	23,743	22,643	21,904	21,182	20,213	19,773	19,204	18,693	18,242	17,451	16,667	16,070	15,055	0	0	0
Real estate taxes
16,166	14,961	13,754	12,414	11,698	11,383	11,119	10,972	10,832	10,528	10,339	10,002	9,789	9,629	9,197	8,897	8,474	7,782	7,184	6,608	6,057	5,743	5,548	5,316	0	0	0
General contracting and real estate services expenses
130,802	101,538	75,009	67,536	67,500	73,628	93,476	113,880	147,808	186,590	203,627	201,524	179,534	153,375	144,539	158,981	172,239	165,344	156,088	134,840	108,911	98,754	88,714	80,749	0	0	0
Depreciation and amortization
58,939	54,564	50,094	44,838	40,539	39,913	37,956	36,999	37,124	37,321	37,710	37,356	36,654	35,328	31,798	29,230	26,394	23,153	21,967	20,217	18,508	17,569	16,526	15,979	0	0	0
Amortization of right-of-use assets - finance leases
0	-	0	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
General and administrative expenses
12,784	12,392	12,668	12,058	11,871	11,431	10,765	10,496	10,410	10,435	10,450	10,508	10,054	9,552	8,964	8,681	8,553	8,397	8,240	8,108	7,993	7,711	7,406	8,522	0	0	0
Acquisition, development and other pursuit costs
471	844	740	716	668	352	333	325	685	648	554	838	906	1,563	2,371	2,314	2,468	1,935	1,224	0	0	-	0	-	-	-	-
Impairment charges
410	252	3	101	0	-	0	0	-	110	221	351	324	355	184	58	0	-	0	0	-	-	0	-	-	-	0
Total expenses
257,078	219,260	185,739	168,111	161,418	165,548	180,212	198,978	232,743	271,054	287,640	284,322	259,904	231,706	218,253	228,369	237,977	225,856	213,300	189,044	159,335	146,688	134,453	126,154	0	0	0
Operating income
46,431	42,637	42,275	34,226	32,349	32,023	38,053	38,704	39,113	39,804	62,358	61,236	59,679	57,212	26,221	27,373	27,288	26,584	25,641	23,017	21,566	21,379	20,828	18,404	0	0	0
Interest income
25,122	23,215	20,199	17,034	13,816	10,729	9,263	8,628	7,911	7,077	6,266	5,380	4,444	3,228	1,928	904	0	-	0	0	-	-	-	-	-	-	-
Interest expense on indebtedness
32,849	30,776	27,857	23,706	20,600	19,087	17,704	17,280	17,277	17,439	17,855	17,726	17,210	16,466	15,304	14,698	14,078	13,333	12,593	11,809	11,129	10,648	10,575	11,130	0	0	0
Interest expense on finance leases
0	-	0	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in income of unconsolidated real estate entities
0	273	645	645	645	372	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Extinguishment of Debt
-	-	0	-	-	-	0	-	-	-	0	-	-	-	0	-	-	-512	0	0	0	-	-	-	-	0	0
Gain on real estate dispositions
-	-	0	-	-	-	0	-	-	8,087	8,180	7,241	7,254	30,533	35,427	31,674	38,871	18,394	0	0	0	-	-	-	-	-	-
Change in fair value of interest rate derivatives
-3,872	-3,599	-6,133	-5,305	-3,383	-951	2,083	1,872	1,802	1,127	1,623	2,034	1,742	-941	-2,255	-2,804	-2,471	-229	0	0	0	-	-	-	-	-	-
Provision for unrealized credit losses
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on acquisitions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Other income (expense), net
583	585	570	273	323	377	160	169	158	81	147	108	108	147	217	199	180	119	199	241	23	120	-132	-6	0	0	0
Income before taxes
34,241	31,767	29,482	23,167	23,150	23,463	23,757	28,698	28,312	30,650	30,186	27,658	25,402	43,098	46,176	42,669	49,813	31,149	27,984	26,240	18,261	12,829	8,994	14,476	0	0	0
Income tax benefit
-638	-491	184	263	127	-29	-608	-459	157	725	884	871	427	343	123	225	215	-34	18	-143	-110	70	209	41	0	0	0
Discontinued operations:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
34,879	32,258	29,298	22,904	23,023	23,492	24,365	29,157	28,155	29,925	29,302	26,787	24,975	42,755	46,053	42,444	49,598	31,183	27,966	26,383	18,371	12,759	8,785	14,435	0	0	0
Net (income) loss attributable to noncontrolling interests:
Investment entities
121	213	640	-320	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating Partnership
8,597	7,992	7,253	5,930	5,976	6,289	6,652	8,158	8,004	8,878	8,949	8,710	8,335	14,681	16,109	15,024	17,691	11,541	10,366	9,856	7,040	5,068	3,635	5,925	0	0	0
Net income attributable to Armada Hoffler Properties, Inc.
26,161	24,053	21,405	17,294	17,047	17,203	17,713	20,999	20,151	21,047	20,353	18,077	16,640	28,074	29,944	27,420	31,907	19,642	17,600	16,527	11,331	7,691	5,150	8,421	0	0	0
Preferred stock dividends
3,522	2,455	1,388	154	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to common stockholders
22,639	21,598	20,577	17,817	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to stockholders per share (basic and diluted) (in dollars per share)
0.11	0.10	0.13	0.08	0.10	0.07	0.09	0.09	0.11	0.09	0.17	0.08	0.16	0.07	0.15	0.06	0.57	0.20	0.10	0.25	0.20	0.13	0.08	0.07	0.08	0.04	0.26
Weighted-average outstanding:
Common shares (in shares)
-	-	-	-	-	-	-	-	-	-	-	42,091	37,622	36,509	33,792	31,736	30,191	27,437	25,958	25,587	25,042	25,075	20,266	19,250	19,193	19,164	18,605
Common units (in shares)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	16,044	15,919	14,769	14,776	14,792	14,291	13,785	13,632	13,059	13,059
Weighted-average common shares outstanding (basic and diluted) (in shares)
56,398	55,636	53,463	52,451	50,926	49,794	49,194	45,928	45,132	-	44,934	-	-	-	-	-	-	43,481	41,877	40,356	39,818	39,867	34,557	33,035	32,825	32,223	31,664
Dividends and distributions declared per common share and unit (in dollars per share)
-	-	-	-	-	-	-	-	-	-	0.19	0.19	0.19	-	0.18	0.18	0.18	-	0.17	0.17	0.17	-	0.16	0.16	0.16	0.16	0.08
Comprehensive income:
Net income
34,879	32,258	29,298	22,904	23,023	23,492	24,365	29,157	28,155	29,925	29,302	26,787	24,975	42,755	46,053	42,444	49,598	31,183	27,966	26,383	18,371	12,759	8,785	14,435	0	0	0
Unrealized cash flow hedge losses
-10,990	-4,504	-7,473	-6,356	-2,897	-1,894	-130	0	0	-	0	-	-	-	-	-	-	-1,075	0	0	0	-	-	-	-	-	-
Realized cash flow hedge losses reclassified to net income
-821	-501	-332	-276	-241	-169	-67	0	0	-	0	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Comprehensive income
24,710	28,255	22,157	16,824	20,367	21,767	28,995	0	0	-	0	-	-	-	-	-	-	30,135	26,405	25,835	17,585	12,759	0	0	0	-	-
Comprehensive income attributable to Armada Hoffler Properties, Inc.
18,749	21,096	16,142	12,792	15,066	15,920	21,003	0	0	-	0	-	-	-	-	-	-	18,994	16,628	16,183	10,836	7,691	0	0	0	-	-
Noncontrolling interests in investment entities
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive (income) loss attributable to noncontrolling interests:
121	213	-1,303	-2,263	-1,943	0	4,916	0	0	-	0	-	-	-	-	-	-	11,141	9,777	9,652	6,749	5,068	0	0	0	-	-
Noncontrolling interests in Operating Partnership
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
8,597	7,992	7,467	6,303	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
8,597	7,992	7,467	6,303	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized cash flow hedge losses
-2,983	-1,183	-1,549	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Realized cash flow hedge losses reclassified to net income
-226	-137	-79	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive (income) loss attributable to noncontrolling interests:
5,840	6,946	5,997	5,150	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-