EQUITY LIFESTYLE PROPERTIES, INC. ELS Income Statement

Equity lifestyle properties, inc. (ELS)

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	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenues:
Rental income
895,415	879,635	864,553	850,539	837,687	821,114	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Community base rental income
-	-	-	-	-	-	-	-	-	-	483,953	477,940	471,361	464,745	458,420	452,164	446,852	442,046	437,623	433,682	430,111	426,886	423,914	420,104	415,070	409,801	399,965	395,560	392,428	394,606	389,532	377,929	346,001	309,230	285,025	262,919	261,112	259,351	257,455	255,730	0	0	0
Rental home income
-	-	-	-	-	-	-	-	-	-	115,666	60,679	14,167	14,107	52,495	98,776	136,660	184,760	180,617	175,203	170,664	163,968	159,554	155,135	151,444	147,234	143,692	140,276	137,487	134,327	133,134	132,757	131,600	130,489	129,899	129,751	129,004	129,481	136,001	127,757	0	0	0
Resort base rental income
-	-	-	-	-	-	-	-	-	-	115,173	166,067	207,167	201,533	158,138	107,065	65,892	14,012	14,166	14,437	14,624	14,827	14,878	14,778	14,630	14,267	13,341	12,812	12,000	11,649	10,867	10,123	8,858	7,245	0	0	0	-	-	-	-	-	-
Other income
43,752	43,063	44,842	46,998	49,269	51,935	82,672	71,305	59,878	47,599	4,654	5,183	6,344	7,310	8,814	8,055	7,963	7,359	6,074	6,121	6,571	7,053	7,624	7,640	6,636	7,515	7,078	7,844	7,787	6,795	5,916	7,659	7,241	6,452	6,738	4,927	5,262	5,740	7,583	6,866	0	0	0
Utility and other income
-	-	-	-	-	-	-	-	-	-	89,008	83,887	82,760	81,427	79,633	78,486	77,864	76,153	75,148	73,702	71,720	70,209	68,177	65,820	64,688	63,800	62,165	61,440	62,750	62,470	62,071	61,070	56,457	53,116	51,104	49,096	48,530	48,357	49,628	48,858	0	0	0
Ancillary services revenues, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	3,799	2,955	0	0	0
Interest income
7,263	7,207	7,252	7,267	7,326	7,525	7,696	7,824	7,760	7,580	7,335	7,128	6,955	6,845	6,768	6,759	6,870	7,030	7,184	7,328	7,470	8,347	8,563	8,861	9,059	8,260	7,651	7,571	7,403	8,135	8,203	8,411	7,515	5,924	5,561	4,281	4,266	4,419	4,414	4,589	0	0	0
Income from other investments, net
9,185	9,528	9,962	8,354	10,888	10,842	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total revenues
1,058,642	1,037,256	1,022,067	1,007,582	999,718	986,653	973,188	958,138	938,948	925,312	909,368	893,908	882,677	870,435	858,009	841,988	833,387	821,654	810,299	800,933	788,478	776,809	767,102	754,290	742,018	729,048	708,054	695,152	686,782	684,298	674,870	663,850	623,157	577,009	553,988	524,139	520,294	517,299	521,173	508,506	0	0	0
Expenses:
Property operating and maintenance
339,206	333,520	329,019	324,603	321,455	319,839	324,011	317,826	309,007	300,729	286,357	279,603	273,349	268,249	263,157	258,974	256,505	254,668	252,418	249,296	246,335	243,914	240,733	236,410	233,538	229,897	225,687	222,491	221,028	220,415	219,274	217,139	207,912	197,781	192,256	187,300	186,643	185,786	192,356	186,426	0	0	0
Rental home operating and maintenance
-	-	-	-	-	-	-	-	-	-	6,921	6,985	6,909	6,883	6,809	6,915	7,023	7,167	7,297	7,252	7,202	7,441	7,543	7,664	7,512	7,474	7,077	6,840	6,634	6,369	6,008	5,712	5,269	4,493	0	0	0	-	-	-	-	-	-
Real estate taxes
63,856	62,338	60,673	58,747	57,080	55,892	53,839	54,605	55,108	55,010	55,488	54,949	53,875	53,036	52,327	51,783	51,566	50,962	49,978	49,318	48,823	48,714	49,312	48,633	48,364	48,279	46,068	45,846	45,468	45,590	45,400	44,342	40,993	36,528	34,054	31,688	31,853	32,110	32,533	32,830	0	0	0
Sales and marketing, gross
16,152	15,583	14,543	14,048	13,139	12,542	12,262	11,971	11,560	11,438	11,393	11,216	11,253	11,056	11,136	11,141	11,722	11,751	12,883	13,020	12,377	12,418	12,647	13,247	13,711	13,509	13,125	12,856	12,155	11,437	10,777	10,154	10,605	11,218	10,995	11,097	11,599	12,606	13,322	13,942	0	0	0
Membership sales commissions, deferred, net
-1,244	-1,219	-962	-1,107	-980	-813	-726	-444	-294	-354	-383	-407	-411	-223	-297	-561	-1,209	-1,556	-2,066	-2,359	-2,305	-2,617	-2,608	-2,557	-2,502	-2,410	-2,805	-3,376	-3,376	-3,155	-3,468	-3,339	-4,031	-4,789	-4,677	-4,803	-5,113	-5,525	-5,753	-6,111	0	0	0
Depreciation, Amortization and Accretion, Net
153,157	152,110	148,295	146,243	142,812	137,209	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,197	23,362	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Home selling expenses
4,531	4,401	4,164	4,232	4,103	4,095	4,034	4,380	4,336	4,186	4,328	3,790	3,666	3,575	3,353	3,305	3,220	3,191	3,018	2,670	2,578	2,342	2,251	2,301	2,127	2,085	1,878	1,640	1,585	1,391	1,409	1,440	1,447	1,591	1,929	2,029	2,078	2,078	1,666	1,850	0	0	0
Real Estate Depreciation Expense and Rental Homes
-	-	-	-	-	-	-	-	-	-	121,046	120,071	118,853	117,400	115,951	114,843	114,149	113,609	112,691	112,112	111,539	111,065	109,671	108,300	109,851	108,229	106,675	105,794	102,004	102,083	100,126	0	0	-	0	-	-	-	-	-	-	-	-
Depreciation on real estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	68,359	68,406	0	0	0
Amortization of in-place leases
-	-	-	-	-	-	-	-	-	-	3,362	4,600	4,070	3,373	2,547	1,787	2,028	2,358	2,158	2,617	3,349	3,999	0	0	0	-	-	-	-	-	-	-	0	-	0	-	-	-	-	-	-	-	-
General and Administrative Expense
36,625	35,679	39,005	39,111	39,555	37,684	34,921	33,610	32,402	31,737	31,028	31,176	30,970	31,004	31,787	31,359	30,645	30,644	29,405	29,803	29,056	27,410	27,125	27,108	27,260	28,211	28,207	27,003	26,867	26,388	43,420	43,430	42,631	42,046	23,587	22,993	22,530	22,559	22,323	22,721	0	0	0
Other Expenses
3,026	2,865	2,814	1,740	1,567	1,483	1,430	1,368	1,272	1,148	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments of Debt Extinguishment Costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-
Rent Control Initiatives Expenses and Other
-	-	-	-	-	-	-	-	-	-	-	-	-	4,986	3,088	2,920	3,087	2,986	2,794	2,858	3,165	2,923	2,457	2,227	2,850	2,771	2,766	2,466	1,209	1,456	1,801	2,047	2,410	2,043	2,390	2,029	1,598	2,200	1,212	1,275	0	0	0
Extinguishment of Debt, Amount
2,545	1,491	1,491	1,491	0	-	0	0	-	-	-	-	-	-	-	-	-	16,913	17,060	22,147	22,078	5,087	41,617	37,911	0	-	0	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Transaction costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-
Depreciation on corporate assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	1,293	1,281	0	0	0
Interest Expense, Debt
103,903	104,223	104,479	105,422	105,683	104,993	104,320	102,857	101,394	100,570	100,123	100,536	101,275	102,030	102,718	103,505	104,089	105,731	107,766	109,403	111,523	112,295	112,993	114,335	116,447	118,522	120,529	122,831	123,159	123,992	123,727	118,303	109,056	99,489	90,861	87,242	88,773	91,151	93,713	96,274	0	0	0
Total expenses
819,960	802,596	793,018	784,319	774,758	765,206	756,693	746,336	731,279	718,700	707,923	700,381	692,534	685,908	676,116	666,132	661,584	675,231	670,236	672,984	667,119	644,376	639,192	661,561	660,673	653,840	640,258	601,769	605,958	622,450	631,061	637,459	591,106	537,000	506,646	460,902	457,708	458,698	460,815	458,258	0	0	0
Gains (Losses) on Sales of Investment Real Estate
0	52,507	52,507	52,507	52,507	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income before equity in income of unconsolidated joint ventures
238,682	287,167	281,556	275,770	277,467	221,447	216,495	211,802	207,669	206,612	201,445	193,527	190,143	184,527	181,893	175,856	171,803	146,423	140,063	127,949	121,359	132,433	127,910	92,729	81,345	75,208	67,796	93,383	80,824	61,848	43,809	26,391	32,051	40,009	47,342	63,237	62,586	58,601	60,358	50,248	0	0	0
Income (Loss) from Equity Method Investments
7,474	8,800	9,581	6,851	5,238	4,900	4,520	4,418	3,845	3,800	3,334	3,144	2,869	2,600	2,625	4,011	4,086	4,089	4,416	3,771	3,575	4,578	4,183	3,385	3,350	2,039	1,999	1,829	1,712	1,899	1,890	1,878	1,927	1,948	1,895	1,952	1,970	2,027	1,943	2,104	0	0	0
Gain on sale of property
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Consolidated income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	77,247	67,216	79,793	0	-	0	0	-	-	-	-	-	-	62,301	52,352	0	0	0
Income from discontinued operations before gain on sale of property
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,133	9,922	9,293	0	-	0	0	-	-	-	-	-	-	-	-	0	0	0
Gain on sale of property, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	41,525	46,140	5,554	5,554	4,596	0	0	0	-	-	-	-	-	-	-	0	0	-
Consolidated income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	48,658	51,466	10,251	0	-	0	0	-	-	-	-	-	-	4,459	4,546	0	0	0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
246,111	295,922	291,176	282,660	282,744	226,386	220,980	216,185	211,479	210,377	204,784	196,676	193,017	187,132	184,518	179,867	175,889	150,512	145,007	133,177	126,391	138,468	132,921	137,581	129,327	125,905	126,206	112,762	97,274	74,459	49,306	29,169	34,525	42,504	49,237	65,189	64,502	60,397	66,760	56,898	0	0	0
Income allocated to non-controlling interests – Common OP Units
13,406	16,783	16,822	16,697	17,045	13,774	13,532	13,228	12,853	12,788	12,924	13,100	13,449	13,869	13,720	13,394	13,120	11,141	10,725	9,808	9,313	10,463	10,152	10,686	10,054	9,706	9,659	8,409	7,009	5,067	2,875	1,083	1,675	3,105	3,942	5,953	6,092	5,903	6,879	5,658	0	0	0
Redeemable perpetual preferred stock dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	0	0	-	-	-	0	-	-
Income allocated to non-controlling interests - Perpetual Preferred OP Units
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	16,132	16,141	0	0	0
Net Income (Loss) Available to Common Stockholders, Basic
232,689	279,123	274,338	265,947	265,683	212,596	207,422	199,877	193,238	189,904	181,877	174,350	170,342	164,037	161,572	157,247	153,543	130,145	125,047	114,120	107,817	118,731	0	0	0	-	107,032	93,169	77,372	54,779	30,344	11,482	16,246	22,775	0	0	0	-	-	-	-	-	-
Other comprehensive income (loss):
Adjustment for fair market value of swap
-3,081	-2,679	-4,458	-3,821	-1,447	1,357	3,960	3,550	2,816	1,169	645	1,226	1,160	326	966	-163	77	-172	-1,754	-1,035	-756	546	1,499	1,719	1,666	1,663	1,656	1,241	777	-43	-3,023	-3,305	0	-	0	0	-	-	-	-	-	-	-
Consolidated comprehensive income
243,030	293,243	286,718	278,839	281,297	227,743	224,940	219,735	214,295	211,546	205,429	197,902	194,177	187,458	185,484	179,704	175,966	150,340	143,253	132,142	125,635	139,014	134,420	139,300	130,993	127,568	127,862	114,003	98,051	74,416	49,186	26,546	31,600	39,957	0	0	0	-	-	-	-	-	-
Comprehensive income allocated to non-controlling interests – Common OP Units
13,239	16,633	16,567	16,479	16,961	13,861	13,775	13,399	12,979	12,813	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Redeemable Preferred Stock Dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	0	0	-	-	-	0	-	-
Comprehensive income attributable to Common Stockholders
229,775	276,594	270,135	262,344	264,320	213,866	211,139	203,256	195,928	191,048	182,523	175,485	171,416	164,339	162,463	157,098	153,615	129,988	123,435	113,170	107,123	119,234	114,866	119,193	111,520	108,443	108,552	94,309	78,086	54,742	30,232	9,098	13,593	20,467	0	0	0	-	-	-	-	-	-
Net income available for Common Shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	44,257	43,749	35,099	0	0	0
Net income available for Common Stockholders (usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.29	-0.10	0.18	0.38	-	0.16	0.02	-	-	-	-	-	-	0.38	0.20	0.50	0.24	0.12
Income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.46	0.04	0.04	-	0.03	0.01	-	-	-	-	-	-	0.00	-0.01	0.00	0.13	0.00
Earnings per common share – basic (usd per share)
0.37	0.05	0.35	0.51	0.63	-0.32	0.31	0.52	0.68	-0.59	0.56	0.46	0.66	0.43	0.48	0.42	0.60	-	0.44	0.38	0.32	-	0.31	0.31	0.46	0.29	0.36	0.22	0.42	0.15	0.19	0.03	0.30	-0.43	-0.07	0.21	0.61	0.18	0.38	0.20	0.50	0.37	0.12
Net income available for Common Stockholders (usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.29	-0.10	0.18	0.38	-	0.16	0.02	-	-	-	-	-	-	0.37	0.20	0.49	0.24	0.11
Income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.46	0.03	0.04	-	0.03	0.00	-	-	-	-	-	-	0.00	-0.01	0.00	0.13	0.00
Earnings per common share – fully diluted (usd per share)
0.37	0.05	0.35	0.51	0.63	-0.32	0.31	0.52	0.68	-0.58	0.56	0.45	0.65	0.42	0.48	0.42	0.60	-	0.43	0.38	0.32	-	0.31	0.30	0.46	0.29	0.36	0.21	0.42	0.15	0.19	0.02	0.30	-0.42	-0.07	0.20	0.61	0.19	0.37	0.20	0.49	0.37	0.11
Distributions declared per Common Share outstanding (usd per share)
-	-	-	-	-	-	-	-	-	-	-	0.48	0.48	-	0.42	0.42	0.42	-	0.37	0.37	0.37	-	0.32	0.32	0.32	-	0.25	0.25	0.25	-	0.21	0.21	0.43	-	0.37	0.37	0.37	0.30	0.30	0.30	0.30	0.30	0.25
Weighted average common shares outstanding – basic (in shares)
181,729	271,855	181,649	90,156	179,560	356,239	178,400	88,549	88,524	436,128	87,037	86,763	86,048	85,170	85,105	84,516	84,321	84,075	84,057	84,031	83,961	83,567	83,531	83,234	83,116	83,004	83,021	83,021	83,026	123,662	82,380	82,262	41,088	182,757	38,346	32,629	30,996	61,005	30,620	30,412	30	29	25,163
Weighted Average Number of Shares Outstanding, Diluted
192,564	288,402	192,400	95,930	191,248	380,714	190,526	94,623	94,577	468,002	93,324	93,063	93,011	93,061	92,910	92,264	92,041	92,060	91,940	91,851	91,777	91,743	91,528	91,420	91,353	91,337	91,259	91,128	91,060	136,405	90,894	90,780	45,369	206,167	43,602	37,262	35,609	71,000	35,530	35,506	35	35	30,693
Right-to-use Annual Payment [Member]
Revenue from Contract with Customer, Excluding Assessed Tax
51,772	51,015	50,214	49,270	48,575	47,778	47,281	46,606	46,065	45,798	45,578	45,396	45,233	45,035	44,773	44,758	44,516	44,443	44,261	44,331	44,627	44,860	45,937	46,856	47,658	47,967	47,464	47,256	47,434	47,662	48,190	48,519	48,861	49,122	49,222	49,332	49,658	49,831	50,424	50,572	0	0	0
Membership upgrade sales current period, gross
Revenue from Contract with Customer, Excluding Assessed Tax
20,116	19,111	17,831	16,964	15,867	15,191	14,889	14,234	14,088	14,132	14,249	13,713	13,001	12,327	11,809	12,026	12,518	12,783	13,644	13,923	13,608	13,892	14,428	13,967	14,065	13,815	14,244	15,031	14,612	14,025	14,440	14,332	16,247	17,856	17,422	17,588	18,412	19,496	20,250	21,567	0	0	0
Right-to-use Contract, Upfront Payment [Member]
Revenue from Contract with Customer, Excluding Assessed Tax
-11,222	-10,451	-9,404	-8,757	-7,866	-7,380	-6,531	-5,318	-4,618	-4,108	0	0	-3,552	-	-2,729	-3,103	-3,760	-4,231	-5,126	-5,414	-5,127	-5,501	-5,552	-5,419	-5,801	-5,694	-6,460	-7,392	-7,127	-6,694	-7,848	-7,918	-10,047	-11,936	-20,897	-21,369	-13,404	-14,856	-7,054	-8,995	0	0	0
Gross revenues from home sales
Revenue from Contract with Customer, Excluding Assessed Tax
39,489	34,655	32,049	32,950	34,230	36,064	38,183	38,856	37,584	36,302	33,824	34,707	36,004	37,191	37,048	34,031	34,427	33,150	32,304	33,143	30,177	28,418	25,998	22,696	20,353	17,871	14,917	11,162	8,866	8,230	7,388	7,364	6,731	6,028	5,642	5,771	6,430	6,120	6,886	6,858	0	0	0
Cost of Goods and Services Sold
40,375	35,096	32,757	34,065	35,533	37,475	39,070	39,705	37,968	36,513	34,340	34,708	36,294	37,456	37,101	34,224	33,836	32,279	30,753	31,041	28,103	26,747	25,138	22,119	19,883	17,296	14,321	10,988	9,583	9,018	8,129	7,877	6,412	5,615	5,098	4,977	5,656	5,396	6,160	6,376	0	0	0
Brokered resale and ancillary services revenues, net
Revenue from Contract with Customer, Excluding Assessed Tax
2,872	3,493	4,768	3,997	3,742	3,584	3,090	3,711	3,538	3,798	4,346	3,283	3,237	2,994	2,840	2,971	3,585	4,149	4,404	4,477	4,033	3,850	3,581	3,852	4,216	4,212	3,997	3,592	3,142	3,093	4,260	4,887	4,976	3,483	6,131	4,751	4,422	4,408	889	851	0	0	0
Property management
Cost of Goods and Services Sold
57,828	56,509	55,669	54,653	53,740	53,736	53,251	52,822	52,373	51,252	50,156	48,859	47,880	47,083	46,448	45,946	45,001	44,528	44,219	43,944	43,296	42,638	41,982	40,973	40,692	40,193	39,958	39,239	38,381	37,999	37,410	37,253	36,134	34,846	33,590	32,762	32,362	32,639	33,631	32,988	0	0	0
Redeemable Perpetual Preferred Stock
Redeemable perpetual preferred stock dividends
-	-	0	0	-	-	0	0	-	7,685	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Redeemable Preferred Stock Dividends
-	-	0	0	-	-	0	0	-	7,685	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-