EQUITY LIFESTYLE PROPERTIES, INC. ELS Income Statement

Equity lifestyle properties, inc. (ELS)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Revenues:
Rental income
879,635	821,114	768,416	-	-	-	-	-	-	-	-	-
Community base rental income
-	-	-	464,745	442,046	426,886	409,801	394,606	309,230	259,351	253,379	245,833
Rental home income
-	-	-	14,107	184,760	163,968	147,234	134,327	130,489	129,481	124,822	111,876
Resort base rental income
-	-	-	201,533	14,012	14,827	14,267	11,649	7,245	4,952	-	-
Revenue from Contract with Customer, Excluding Assessed Tax
19,111	15,191	-	-	-	-	-	-	-	-	-	-
Other income
43,063	51,935	47,599	7,310	7,359	7,053	7,515	6,795	6,452	5,740	8,168	17,006
Utility and other income
-	-	-	81,427	76,153	70,209	63,800	62,470	53,116	48,357	47,685	41,633
Ancillary services revenues, net
-	-	-	-	-	-	-	-	-	-	2,745	1,197
Interest income
7,207	7,525	7,580	6,845	7,030	8,347	8,260	8,135	5,924	4,419	5,119	3,095
Income from other investments, net
9,528	10,842	5,795	-	-	-	-	-	-	-	-	-
Total revenues
1,037,256	986,653	925,312	870,435	821,654	776,809	729,048	684,298	577,009	517,299	503,221	463,586
Expenses:
Property operating and maintenance
333,520	319,839	300,729	268,249	254,668	243,914	229,897	220,415	197,781	185,786	180,870	152,363
Rental home operating and maintenance
-	-	-	6,883	7,167	7,441	7,474	6,369	4,493	3,111	-	-
Real estate taxes
62,338	55,892	55,010	53,036	50,962	48,714	48,279	45,590	36,528	32,110	31,674	29,457
Sales and marketing, gross
15,583	12,542	11,438	11,056	11,751	12,418	13,509	11,437	11,218	12,606	13,536	7,116
Membership sales commissions, deferred, net
-1,219	-813	-354	-223	-1,556	-2,617	-2,410	-3,155	-4,789	-5,525	-5,729	-3,644
Depreciation, Amortization and Accretion, Net
152,110	137,209	123,686	-	-	-	-	39,467	23,126	-	-	-
Home selling expenses
4,401	4,095	4,186	3,575	3,191	2,342	2,085	1,391	1,591	2,078	2,383	5,776
Real Estate Depreciation Expense and Rental Homes
-	-	-	117,400	113,609	111,065	108,229	102,083	83,013	70,952	-	-
Depreciation on real estate
-	-	-	-	-	-	-	-	-	-	69,049	66,193
Amortization of in-place leases
-	-	-	3,373	2,358	3,999	1,940	45,122	-	0	-	-
General and Administrative Expense
35,679	37,684	31,737	31,004	30,644	27,410	28,211	26,388	42,046	22,559	22,279	20,617
Other Expenses
2,865	1,483	1,148	-	-	-	-	-	-	-	-	-
Rent Control Initiatives Expenses and Other
-	-	-	4,986	2,986	2,923	2,771	1,456	2,043	2,200	456	1,555
Extinguishment of Debt, Amount
1,491	1,071	2,785	0	16,913	5,087	37,844	0	0	-	-	-
Transaction costs
-	-	-	-	-	-	-	-	-	0	-	-
Goodwill impairment
-	-	-	-	-	-	-	-	-	3,635	-	-
Depreciation on corporate assets
-	-	-	-	-	-	-	-	-	-	1,039	390
Interest Expense, Debt
104,223	104,993	100,570	102,030	105,731	112,295	118,522	123,992	99,489	91,151	98,311	99,430
Total expenses
802,596	765,206	718,700	685,908	675,231	644,376	653,840	622,450	537,000	458,698	454,722	428,773
Gains (Losses) on Sales of Investment Real Estate
52,507	0	0	-	-	-	-	-	-	-	-	-
Income before equity in income of unconsolidated joint ventures
287,167	221,447	206,612	184,527	146,423	132,433	75,208	61,848	40,009	58,601	48,499	34,813
Income (Loss) from Equity Method Investments
8,800	4,900	3,800	2,600	4,089	4,578	2,039	1,899	1,948	2,027	2,896	3,753
Gain on sale of property
-	-	-	-	-	1,457	0	0	-	-	-	-
Consolidated income from continuing operations
-	-	-	-	-	-	77,247	63,747	41,957	-	51,395	38,566
Income from discontinued operations before gain on sale of property
-	-	-	-	-	-	7,133	6,116	547	-	181	257
Gain on sale of property, net of tax
-	-	-	-	-	-	41,525	4,596	0	-231	4,685	-79
Consolidated income from discontinued operations
-	-	-	-	-	-	48,658	10,712	547	-	4,866	178
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
295,922	226,386	210,377	187,132	150,512	138,468	125,905	74,459	42,504	60,397	56,261	38,744
Income allocated to non-controlling interests – Common OP Units
16,783	13,774	12,788	13,869	11,141	10,463	9,706	5,067	3,105	5,903	6,113	4,297
Redeemable perpetual preferred stock dividends
-	-	-	9,226	9,226	9,274	9,280	14,613	13,823	-	-	-
Income allocated to non-controlling interests - Perpetual Preferred OP Units
-	-	-	-	-	-	-	-	-	-	16,143	16,144
Net Income (Loss) Available to Common Stockholders, Basic
279,123	212,596	189,904	164,037	130,145	118,731	-	54,779	22,775	38,354	-	-
Other comprehensive income (loss):
Adjustment for fair market value of swap
-2,679	1,357	1,169	326	-172	546	1,663	-43	-2,547	0	-	-
Consolidated comprehensive income
293,243	227,743	211,546	187,458	150,340	139,014	127,568	74,416	39,957	60,397	-	-
Comprehensive income allocated to non-controlling interests – Common OP Units
16,633	13,861	12,813	13,893	11,126	10,506	-	-	-	-	-	-
Redeemable Preferred Stock Dividends
-	-	-	9,226	9,226	9,274	9,280	14,613	13,823	-	-	-
Comprehensive income attributable to Common Stockholders
276,594	213,866	191,048	164,339	129,988	119,234	108,443	54,742	20,467	38,354	-	-
Net income available for Common Shares
-	-	-	-	-	-	-	59,846	26,346	44,257	34,005	18,303
Net income available for Common Stockholders (usd per share)
-	-	-	-	1.55	1.42	0.75	0.55	0.31	-	1.08	0.74
Income from discontinued operations
-	-	-	-	-	-	0.54	0.12	0.01	-	0.15	0.01
Earnings per common share – basic (usd per share)
1.54	1.19	1.09	1.93	-	-	1.29	0.67	0.32	1.26	1.23	0.75
Net income available for Common Stockholders (usd per share)
-	-	-	-	1.54	1.41	0.75	0.54	0.31	-	1.07	0.74
Income from discontinued operations
-	-	-	-	-	-	0.53	0.12	0.01	-	0.15	0.01
Earnings per common share – fully diluted (usd per share)
1.54	1.19	1.08	1.92	-	-	1.28	0.66	0.32	1.25	1.22	0.75
Distributions declared per Common Share outstanding (usd per share)
-	-	-	-	-	-	-	-	-	1.20	-	-
Weighted average common shares outstanding – basic (in shares)
180,805	177,928	173,994	84,778	84,031	83,362	83,018	82,348	71,182	30,517	27,582	24
Weighted Average Number of Shares Outstanding, Diluted
191,995	190,110	186,850	92,569	91,907	91,511	91,196	90,862	80,660	35,518	32,944	30
Right-to-use Annual Payment [Member]
Revenue from Contract with Customer, Excluding Assessed Tax
51,015	47,778	45,798	45,035	44,443	44,860	47,967	47,662	49,122	49,831	50,765	19,667
Membership upgrade sales current period, gross
Revenue from Contract with Customer, Excluding Assessed Tax
19,111	15,191	14,132	12,327	12,783	13,892	13,815	14,025	17,856	19,496	21,526	10,951
Right-to-use Contract, Upfront Payment [Member]
Revenue from Contract with Customer, Excluding Assessed Tax
-10,451	-7,380	-4,108	-	-4,231	-5,501	-5,694	-6,694	-11,936	-14,856	-18,882	-10,611
Gross revenues from home sales
Revenue from Contract with Customer, Excluding Assessed Tax
34,655	36,064	36,302	37,191	33,150	28,418	17,871	8,230	6,028	6,120	7,136	21,845
Cost of Goods and Services Sold
35,096	37,475	36,513	37,456	32,279	26,747	17,296	9,018	5,615	5,396	7,471	24,069
Brokered resale and ancillary services revenues, net
Revenue from Contract with Customer, Excluding Assessed Tax
3,493	3,584	3,798	2,994	4,149	3,850	4,212	3,093	3,483	4,408	758	1,094
Right-to-use contract upfront payments, deferred, net
Right-to-use contract upfront payments, deferred, net
-	-	-	-3,079	-	-	-	-	-	-	-	-
Property management
Cost of Goods and Services Sold
56,509	53,736	51,252	47,083	44,528	42,638	40,193	37,999	34,846	32,639	33,383	25,451
Redeemable Perpetual Preferred Stock
Redeemable perpetual preferred stock dividends
16	16	7,685	9,226	-	-	-	-	-	-	-	-
Redeemable Preferred Stock Dividends
16	16	7,685	9,226	-	-	-	-	-	-	-	-