EQUITY COMMONWEALTH EQC Income Statement

Equity commonwealth (EQC)

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 revenue
116,869	184,368	324,415	409,071	570,382	691,699	763,262	774,600	601,632	-	-	-
Total revenues
127,850	197,022	340,571	500,680	144,509	170,158	189,767	186,487	139,712	-	-	-
Expenses:
Operating expenses
46,418	79,916	141,425	200,706	324,948	387,982	410,045	397,673	297,408	302,901	324,050	314,109
Depreciation and amortization
28,122	49,041	90,708	131,806	194,001	227,532	234,402	230,284	171,662	187,680	178,034	167,298
General and administrative
38,442	44,439	47,760	50,256	57,457	113,155	80,504	49,312	38,221	36,672	36,603	33,891
Loss on asset impairment
0	12,100	19,700	58,476	17,162	185,067	124,253	0	3,036	29,949	15,179	2,283
Acquisition related costs
-	-	-	-	-	5	318	5,648	9,731	21,553	4,082	-
Total expenses
112,982	185,483	299,607	441,244	593,568	913,741	849,522	682,917	520,058	578,755	557,948	515,298
Operating income
-	-	-	59,436	121,323	-51,884	103,507	278,170	221,286	141,992	206,513	236,812
Interest and other income, net
72,392	46,815	26,380	10,331	5,989	1,561	1,229	1,410	1,662	2,171	1,195	1,442
Interest expense (including net amortization of debt discounts, premiums and deferred financing fees of $(56) and $165, respectively)
8,908	26,585	52,183	84,329	107,316	143,230	173,011	202,055	191,876	179,642	166,855	173,467
Loss on early extinguishment of debt
-6,374	-7,122	-493	-2,680	6,661	4,909	-60,052	-287	-35	-796	20,686	-
Gain on sale of equity investment
-	-	-	-	-	171,561	66,293	0	-	-	-	-
Gain on issuance of shares by an equity investee
-	-	-	-	-	17,020	0	7,246	11,177	34,808	-	-
Foreign Currency Transaction Gain (Loss), before Tax
-	-	-	-5	-8,857	0	0	-	-	-	-	-
Income (loss) before gain on sale of properties
-	-	-	-	-	-	-	-79,845	109,984	101,073	164,674	-
Gain on sale of properties, net
422,172	251,417	15,498	250,886	84,421	0	1,596	0	-	34,336	-	-
Income before income taxes
494,150	276,064	30,166	233,639	102,221	-63	-60,438	84,484	42,214	27,389	68,085	62,504
Gain on asset acquisition
-	-	-	-	-	-	-	-	-	20,392	-	-
Income tax expense
1,284	3,156	500	745	2,364	3,191	2,634	3,207	1,347	550	735	773
Net income
492,866	272,908	29,666	232,894	99,857	-	-177,060	-79,845	109,984	135,409	-	244,645
Net loss on sale of properties from discontinued operations
-	-	-	-	-	-	-22,162	2,039	42,752	137,768	79,133	137,174
Net income attributable to noncontrolling interest
186	95	10	0	0	-	20,093	15,576	-	-	-	-
Equity in earnings of investees
-	-	-	-	-	24,460	25,754	11,420	11,377	8,464	6,546	-
Income from continuing operations
-	-	-	-	-	21,206	-37,318	20,584	5,259	7,521	67,350	-
Discontinued operations:
Income from discontinued operations
-	-	-	-	-	8,389	6,393	-4,341	22,307	36,029	34,894	45,740
Loss on asset impairment from discontinued operations
-	-	-	-	-	2,238	102,869	168,632	7,319	99,315	16,703	-
Loss on early extinguishment of debt from discontinued operations
-	-	-	-	-	3,345	1,011	1,608	-	248	-	-
Net income attributable to Equity Commonwealth
492,680	272,813	29,656	232,894	99,857	24,012	-156,967	-95,421	109,984	135,409	164,674	-
Preferred distributions
7,988	7,988	7,988	17,956	27,924	32,095	44,604	51,552	46,985	47,733	50,668	50,668
Preferred Stock Redemption Premium
-	-	-	9,609	0	0	-	4,985	-	5,921	-	-
Excess fair value of consideration over carrying value of preferred shares
-	-	-	-	-	16,205	0	-	-	-	-	-
Net income attributable to Equity Commonwealth common shareholders
484,692	264,825	21,668	205,329	71,933	-24,288	-221,664	-151,958	62,999	81,755	114,006	193,977
Amounts attributable to Equity Commonwealth common shareholders:
Income (loss) from continuing operations
-	-	-	-	-	-27,094	-102,015	92,697	52,244	26,839	-	61,731
Income from discontinued operations
-	-	-	-	-	8,389	6,393	-4,341	22,307	36,029	34,894	45,740
Loss on asset impairment from discontinued operations
-	-	-	-	-	2,238	102,869	168,632	7,319	99,315	16,703	-
Loss on early extinguishment of debt from discontinued operations
-	-	-	-	-	3,345	1,011	1,608	-	248	-	-
Net income (loss)
-	-	-	-	-	-24,288	-	-	-	-	-	-
Net (loss) gain on sale of properties from discontinued operations
-	-	-	-	-	-	-	2,039	42,752	137,768	79,133	137,174
Numerator for net income (loss) per share - basic
484,692	264,825	21,668	205,329	71,933	-	-221,664	-151,958	62,999	81,755	114,006	193,977
Weighted average common shares outstanding — basic (in shares)
122,091	122,314	124,125	125,474	128,621	125,163	112,378	-	-	-	56,055	56,617
Weighted average common shares outstanding — diluted (in shares)
126,260	123,385	125,129	126,768	129,437	125,163	112,378	-	-	-	63,353	63,915
Earnings per common share attributable to Equity Commonwealth common shareholders:
Earnings per common share attributable to Equity Commonwealth common shareholders:
Basic (in dollars per share)
3.97	2.17	0.17	1.64	0.56	-0.21	-0.91	-	-	-	-	0.20
Income from discontinued operations (in dollars per share)
-	-	-	-	-	0.02	-1.06	-	-	-	-	3.23
Net income (loss) (in dollars per share)
-	-	-	-	-	-0.19	-1.97	-	-	-	-	3.43
Diluted (in dollars per share)
3.90	2.15	0.17	1.62	0.56	-0.21	-0.91	-	-	-	-	0.20
Income from discontinued operations (in dollars per share)
-	-	-	-	-	0.02	-1.06	-2.06	0.75	1.15	1.74	3.23
Net income (loss) (in dollars per share)
-	-	-	-	-	-0.19	-1.97	-1.81	0.81	1.26	2.03	3.43
Weighted average number of common shares outstanding - basic and diluted
-	-	-	-	-	-	-	83,750	77,428	64,703	-	-
Income (loss) from continuing operations (in dollars per share)
-	-	-	-	-	-	-	0.25	0.07	0.12	0.30	-
Other revenue
Other revenue
10,981	12,654	16,156	-	714,891	861,857	953,029	961,087	741,344	720,747	764,461	752,110
Tenant reimbursements and other income
Revenues
-	-	-	91,609	-	-	-	-	-	-	-	-