GRAMERCY PROPERTY TRUST GPT Income Statement

Gramercy property trust (GPT)

Income statement / TTM

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	Sep'10	Jun'10
Operating expense reimbursements
Third-party management fees
GPT Operating Partnership LP
Revenues
Rental revenue
474,073	463,157	444,194	417,290	407,963	398,219	387,032	343,455	289,843	230,891	169,986	137,911	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating expense reimbursements
-	86,861	-	82,540	-	84,664	86,878	78,419	68,425	56,258	41,814	38,073	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Third-party management fees
-	8,954	-	13,525	-	35,312	35,766	35,228	33,209	19,131	22,271	22,419	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment income
-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income
5,594	5,734	6,351	9,061	9,663	8,518	7,588	5,145	4,446	3,840	3,201	1,493	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total revenues
578,936	564,706	545,220	522,416	518,653	526,713	517,264	461,039	395,160	309,882	237,272	201,596	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Rental
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	142,175	136,671	129,708	119,081	103,666	85,824	0	0	0
Tenant Reimbursements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	31,977	30,123	29,237	26,735	23,534	19,038	0	0	0
Other Property Income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-
Total Revenues
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	174,152	166,794	158,945	145,816	127,200	104,862	0	0	0
Operating expenses
Acquisition Expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-
Acquisition Expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,737	18,534	0	0	0
Depreciation and amortization
279,268	272,965	263,666	251,032	247,134	245,496	241,527	210,769	173,026	137,204	97,654	38,272	25,458	27,868	36,408	-2,457	11,672	11,117	5,675	20,310	12,662	4,076	256	71,199	69,068	66,055	60,353	51,843	41,904	0	0	0
Property operating expenses
103,682	100,883	96,981	94,008	91,849	92,140	93,123	83,434	71,800	57,862	42,076	32,299	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property Operating
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	0	0	-	-	-	-	-	-	-
Operating and Maintenance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	13,993	11,093	0	0	0
Real Estate Taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	21,829	19,701	18,950	17,650	16,023	13,950	0	0	0
General and administrative expenses
37,579	37,817	36,887	36,839	35,366	34,271	33,237	29,387	25,970	22,743	19,794	15,079	15,150	16,325	18,416	18,138	18,833	20,114	18,210	31,446	33,094	28,129	25,335	12,339	6,651	5,757	5,132	5,956	6,321	0	0	0
Property management expenses
10,587	10,406	10,948	13,967	15,525	18,681	20,118	19,811	19,781	18,801	19,446	23,795	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property Management Fee to Related Party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	1,340	1,005	0	0	0
Investment Management Fee
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	23,079	23,527	22,612	20,908	18,033	15,113	0	0	0
Merger-related expenses
0	-	-	3,564	0	-	9,558	53,826	59,101	58,244	61,340	18,066	12,842	9,387	6,171	2,243	1,095	1,257	2,808	3,277	3,133	0	-	0	0	-	-	-	-	-	-	-
Total operating expenses
433,061	422,071	408,482	399,410	394,710	399,736	397,563	397,227	349,678	294,854	240,310	176,560	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating income
145,875	142,635	136,738	123,006	123,943	126,977	119,701	63,812	45,482	15,028	-3,038	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transition and Listing
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	-	-	-	-	-	-	-	-
Transition Costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	-	-	-
Listing
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-
Total Expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	155,899	149,132	148,174	137,698	150,548	130,452	0	0	0
Income Before Other (Expenses) Income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other expenses:
Interest and Other Income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	2,111	2,342	2,292	1,607	1,516	1,147	0	0	0
Interest expense
101,646	99,288	96,852	88,724	82,867	76,537	75,434	68,709	59,527	50,346	34,663	6,909	2,616	8,795	16,586	2,178	10,146	6,606	1,732	0	0	0	-	-	35,332	36,006	33,261	28,623	22,532	0	0	0
Total property operating expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other-than-temporary impairment
0	0	4,081	4,081	4,081	4,081	0	0	0	0	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Portion of impairment recognized in other comprehensive loss
0	0	809	809	809	809	0	0	0	0	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net impairment recognized in earnings
0	0	4,890	4,890	4,890	4,890	0	0	0	0	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on derivative instruments
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net impairment recognized in earnings
0	0	4,890	4,890	0	0	-	0	0	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in net income (loss) of unconsolidated equity investments
45,330	47,416	48,248	55,354	5,486	5,070	2,409	-4,194	-4,152	-3,861	-1,107	-6,556	-5,357	-868	1,959	-8,384	-5,163	-7,200	-5,662	4,803	2,406	918	-2,904	1,986	1,668	922	3,590	6,699	8,199	0	0	0
Gain on dissolution of previously held U.S. unconsolidated equity investment interests
-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) from continuing operations before gain on remeasurement of previously held joint venture, loss on extinguishment of debt, provision for taxes, and discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on remeasurement of previously held unconsolidated equity investment interests
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest Expense and Net Change in Fair Value of Non-Qualifying Derivative Financial Instruments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,181	622	638	303	-384	-792	0	0	0
Gain on Interest Rate Swaps
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	441	294	0	0	0
Gain on extinguishment of debt
-6,679	-6,494	-6,702	-6,691	-13,717	-15,341	-20,890	-30,362	-16,585	-15,229	-9,472	0	0	0	-	-	-	-	-	0	-	-	-	0	-	-	-	0	-	-	0	0
Impairment losses
24,072	25,051	37,822	22,468	0	0	-	0	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) from continuing operations before provision for taxes
73,778	59,218	38,720	39,793	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest Expense and Net Change in Fair Value of Non-Qualifying Derivative Financial Instruments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-
Gain on Sale of Real Estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Gain on Conversion of Equity Interest to Controlling Interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	-	-	-	-	-	-	-	-
Loss on Note Payable at Fair Value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	-	-	-	-
Loss on Swap Termination
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Loss on Note Payable at Fair Value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0
Total Other Expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	-41,674	-31,225	-31,504	-32,065	876	228	0	0	0
Income (loss) from continuing operations before provision for taxes
-	-	-	-	-	-	-	-	-27,553	-54,408	-	60,076	55,077	56,589	56,002	-71,686	-71,856	-78,932	-1,779	75,280	64,569	68,312	-12,107	-23,421	-13,563	-20,733	-23,947	-22,472	-25,362	0	0	0
Benefit (provision) for taxes
-36	173	-644	-1,221	-292	2,261	3,160	3,771	4,425	1,742	2,153	2,321	1,501	1,865	809	6,723	6,612	6,382	6,393	3,387	3,408	3,417	3,330	289	299	369	456	547	532	0	0	0
Income (loss) from continuing operations
73,814	59,045	39,364	47,807	-1,211	16,369	18,748	-37,048	-31,978	-56,150	-50,433	-1,341	0	0	-	0	-	-	-8,172	66,630	0	0	-	0	-	-	-	-	-	-	-	-
Income (loss) from discontinued operations before gain on extinguishment of debt and net gain on disposals
-	-	-	-43	-	-	3,148	3,973	3,585	3,647	875	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on extinguishment of debt
-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (loss) from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-
Income (Loss) from Discontinued Operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	377	395	0	0	0
Gain on extinguishment of debt
-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-
(Loss) Gain On Conversion Of Equity Interest To Controlling Interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-
NET (LOSS) INCOME FROM CONTINUING OPERATIONS
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-16,320	-17,695	0	0	0
Gain (Loss) on Sale of Real Estate
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	0	-	-	-
Realized Gain from Sales
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-
Realized Loss from Sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Loss from discontinued operations
-37	-65	-89	278	649	735	5,399	5,903	5,515	5,577	875	-24	0	0	-	0	-	-	392,999	295	-234	0	-	0	0	-	1,528	677	269	0	0	0
Net income (loss) before net gain on disposals
73,777	58,980	39,275	48,085	-562	17,104	24,147	21,124	23,701	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of European unconsolidated equity investment interests held with a related party
-	-	-	0	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on disposals
48,207	45,686	46,808	25,799	23,256	21,254	3,877	2,728	593	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of European unconsolidated equity investment interests held with a related party
-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income
121,984	104,666	86,083	73,884	22,694	43,699	33,365	-23,222	-20,484	-49,734	-48,719	50,341	45,873	51,312	54,669	311,532	314,849	306,056	384,827	-75,801	-89,044	-87,303	-171,548	-21,288	-11,350	-18,827	-19,285	-15,643	-17,426	0	0	0
Net (income) loss attributable to noncontrolling interest
2,426	1,468	820	229	117	281	7	-596	-797	-869	-791	-147	0	0	-	0	-	-	0	89	81	85	0	-12	-11	-24	-26	-23	-27	0	0	0
Net income attributable to Gramercy Property Trust
119,558	103,198	85,263	73,655	22,577	43,418	33,358	-22,626	-19,687	-48,865	-47,928	-625	0	0	-	0	-	-	384,827	-75,890	-89,125	-87,388	-171,548	-21,276	-11,339	-18,803	-19,259	-15,620	-17,399	0	0	0
Preferred share dividends
6,234	6,234	6,234	6,235	0	0	-	0	0	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred share dividends
-	-	-	-	-	-	-	-	-	6,234	-	6,868	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income available to common shareholders
113,324	96,964	79,029	67,421	16,343	37,184	27,124	-28,860	-25,921	-55,099	-54,162	-10,405	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic earnings per share:
Net income from continuing operations, after preferred dividends (in usd per share)
0.14	0.16	0.11	0.32	0.04	0.05	0.03	-0.02	0.19	-0.05	-0.88	0.00	-0.01	-0.01	-	-0.25	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) from discontinued operations (in usd per share)
0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.00	0.00	0.03	0.01	0.00	0.00	0.00	-	0.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income available to common stockholders (in usd per share)
0.14	0.16	0.11	0.32	0.04	0.05	0.04	-0.02	0.19	-0.02	-0.87	0.00	-0.01	-0.01	-	-0.25	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted earnings per share:
Net income from continuing operations, after preferred dividends (in usd per share)
0.14	0.16	0.11	0.32	0.04	0.05	0.03	-0.02	0.19	-0.05	-0.88	0.00	-0.01	-0.01	-	-0.25	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) from discontinued operations (in usd per share)
0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.00	0.00	0.03	0.01	0.00	0.00	0.00	-	0.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income available to common stockholders (in usd per share)
0.14	0.16	0.11	0.32	0.04	0.05	0.04	-0.02	0.19	-0.02	-0.87	0.00	-0.01	-0.01	-	-0.25	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic and Diluted Net Income (Loss) Per Share from Continuing Operations Attributable to Common Shareholders (in usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	-0.02	0.33	-	-0.05	-0.01	-	-	-0.01	-	-	-	-
Basic and Diluted Net Loss Per Share from Discontinued Operations Attributable to Common Shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	-	-	0.00	0.00	0.00	0.00	0.00
Net Income per Share (in usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.02	0.01	-	0.00	-0.02	0.33	-	-0.05	-0.01	-0.01	-0.02	-0.01	-0.05	-0.02	-0.01	-0.03
Basic weighted average common shares outstanding (in shares)
160,420	160,408	160,574	152,619	148,542	140,907	139,674	140,257	140,776	140,060	-267,659	183,945	177,393	149,115	-391,622	29,481	237,000	236,583	-537,075	236,548	248,224	248,477	-	249,173	-	-	-	-	-	-	-	-
Diluted weighted average common shares and common share equivalents outstanding (in shares)
160,433	160,416	153,422	157,507	149,914	141,875	141,203	140,257	142,514	140,060	-271,397	187,683	177,393	149,115	-388,498	29,481	237,000	236,583	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted earnings per unit:
Weighted Average Common Shares Outstanding-Basic and Diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	249,117	244,849	-	199,398	180,834	-	-	-
Weighted Average Common Shares Outstanding-Basic and Diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	168,726	144,158	128,444
Dividends declared per Common Share (in usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.12	0.12	-	-	-	-	-	-	0.15	0.15	-	0.15	0.15	0.15	0.15	0.15