MACQUARIE INFRASTRUCTURE CORPORATION MIC Income Statement

Macquarie infrastructure corporation (MIC)

Income statement / Quarterly

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	Sep'10	Jun'10
Revenue
Revenue from Contract with Customer, Excluding Assessed Tax
416,000	424,000	405,000	416,000	482,000	437,000	421,000	436,000	467,000	325,492	453,061	438,990	451,457	287,542	420,524	397,579	396,387	401,354	415,709	423,689	398,498	405,142	388,638	280,943	276,195	260,527	263,719	252,567	264,206	251,421	259,253	258,516	264,856	250,155	251,578	247,187	239,871	213,298	204,692
Revenue from product sales - utility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	34,193	36,921	-	35,535	36,807	38,314	34,964	35,088	36,421	34,273	28,232	28,450
Financing and equipment lease income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	379	710	747	784	817	907	1,055	1,088	1,119	1,150	1,179	1,208	1,236	1,261	1,287	1,251	1,271
Costs and expenses
Cost of product sales - utility
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	29,464	31,489	-	31,001	31,324	32,172	29,571	29,205	30,772	26,865	22,467	23,151
Selling, general and administrative
96,000	89,000	81,000	84,000	80,000	87,000	78,000	82,000	80,000	61,183	84,898	82,967	76,952	55,446	77,468	72,430	72,284	79,244	73,901	81,064	70,653	75,457	77,497	56,836	55,464	55,062	53,669	52,120	49,209	56,071	51,571	50,467	55,263	51,801	50,706	48,309	51,670	50,486	49,522
Fees To Manager Related Party
7,000	9,000	8,000	7,000	8,000	9,000	12,000	11,000	13,000	16,390	17,954	18,433	18,223	18,916	18,382	16,392	14,796	17,009	18,118	154,559	165,273	14,192	130,501	14,495	8,994	8,455	15,242	32,493	29,177	50,119	29,353	4,760	4,995	4,222	3,465	4,156	3,632	2,380	2,268
Goodwill, Impairment Loss
-	-	0	-	-	-	3,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation
51,000	50,000	49,000	48,000	48,000	50,000	49,000	47,000	47,000	5,247	58,009	57,063	57,681	3,393	59,242	59,662	53,221	52,950	53,070	51,801	57,422	37,902	35,958	12,428	12,154	10,420	10,039	9,436	9,255	8,883	7,596	7,557	7,551	7,910	10,072	8,623	7,210	6,973	7,202
Amortization of Intangible Assets
14,000	15,000	14,000	15,000	15,000	15,000	20,000	17,000	16,000	13,080	17,329	15,898	17,693	11,080	15,417	16,713	17,787	17,779	17,783	17,902	47,971	13,105	11,369	9,456	8,765	8,785	8,618	8,620	8,628	8,709	8,800	8,546	8,546	8,707	8,637	16,044	8,719	8,743	8,740
Loss from customer contract termination
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,269	-	-	-	0	-1,626	-	-	0	0	-	-	-	-	-	-	-
(Gain) loss on disposal of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-545	-	-20	-866	0	0	-50	-3	-173	-	1,706	-327	-	-	-518	-1,225	-	-	-
Total operating expenses
355,000	369,000	349,000	361,000	359,000	390,000	368,000	378,000	391,000	285,719	367,077	361,724	372,480	252,943	344,866	321,072	307,611	340,824	342,260	498,990	514,408	342,413	462,905	260,175	248,570	240,775	243,318	255,429	255,858	278,131	253,336	232,485	240,569	225,053	225,938	235,045	215,575	186,517	184,088
Operating income
61,000	55,000	56,000	55,000	123,000	47,000	53,000	58,000	76,000	39,773	85,984	77,266	78,977	34,599	75,658	76,507	88,776	60,530	73,449	-75,301	-115,910	62,729	-74,267	20,768	27,625	19,752	20,401	-2,862	8,348	-26,710	5,917	26,031	24,287	25,102	25,640	12,142	24,296	26,781	20,604
Other income (expense)
Dividend income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	257	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Investment Income, Interest
0	1,000	2,000	1,000	3,000	1,000	0	0	0	-129	54	41	34	1	27	25	33	21	21	7	6	7	10	31	64	22	39	49	94	106	110	4	2	8	3	97	4	2	4
Interest expense
42,000	30,000	36,000	46,000	42,000	42,000	28,000	25,000	18,000	-3,129	29,291	35,356	25,482	-21,655	20,871	39,502	56,895	14,455	54,761	22,342	31,521	24,674	16,566	17,945	14,011	5,854	15,767	7,737	7,686	7,547	15,144	10,925	13,007	10,388	14,638	19,866	14,469	24,844	38,974
Loss on extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-90	-	-	-	0	-2,472	-	-	0	0	-	-	-	-	-	-	-
Equity in earnings and amortization charges of investee
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	312	993	10,799	14,287	8,788	8,576	11,289	10,462	9,032	6,989	6,805	9,501	8,695	2,436	3,270	8,362	7,804	5,774
Gain from acquisition/divestiture of businesses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,027,054	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Other income, net
1,000	-4,000	0	-2,000	4,000	8,000	-21,000	6,000	0	1,107	4,973	1,738	1,182	-2,624	16,689	271	3,429	-1,649	772	588	1,577	-5,385	821	1,576	681	167	829	-313	-2	840	249	48	-52	107	1,200	-46	-349	1,269	-496
Net income from continuing operations before income taxes
20,000	22,000	22,000	8,000	88,000	14,000	4,000	39,000	58,000	43,880	61,720	43,689	54,711	53,631	71,503	37,301	35,343	44,447	19,481	-97,048	-145,848	32,822	938,212	15,229	28,646	22,875	14,078	-2,046	11,216	-24,279	-1,879	21,963	20,731	23,524	14,641	-4,403	17,844	11,012	-13,088
Income Tax Expense (Benefit)
9,000	6,000	7,000	2,000	24,000	18,000	2,000	12,000	18,000	-295,284	25,547	17,664	22,073	8,904	29,022	16,220	15,167	12,564	11,139	-33,531	-55,333	14,117	-52,462	5,485	8,486	8,802	5,829	-1,090	4,502	-12,413	-1,758	9,935	6,521	11,083	5,137	-488	6,986	2,036	-13,488
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
11,000	16,000	15,000	6,000	64,000	-4,000	2,000	27,000	40,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,976	400
Discontinued Operations
Net income from discontinued operations before income taxes
0	-1,000	78,000	5,000	3,000	-9,000	26,000	9,000	6,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Benefit for income taxes
0	1,000	32,000	2,000	-2,000	-3,000	6,000	0	-1,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income from discontinued operations
0	-2,000	46,000	3,000	5,000	-6,000	20,000	9,000	7,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	85,212
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
11,000	14,000	61,000	9,000	69,000	-10,000	22,000	36,000	47,000	361,164	36,173	26,025	32,638	71,131	42,481	21,081	20,176	31,883	8,342	-63,517	-90,515	18,705	990,674	9,744	20,160	14,073	8,249	-956	6,714	-11,866	-121	12,028	14,210	12,441	9,504	-3,915	10,858	8,976	85,612
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
11,000	16,000	15,000	6,000	64,000	-4,000	2,000	27,000	40,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: net loss attributable to noncontrolling interests
-	-	-	-	-	-	-	-	-	7,294	-3,922	5	-3,377	-3,773	455	1,889	-2,179	-1,040	-2,296	-421	-1,513	-2,264	-319	44	-206	-1,751	-2,158	-108	843	-1,836	1,758	890	118	149	3,128	-1,425	-307	34	-238
Net income from continuing operations attributable to MIC
11,000	16,000	15,000	6,000	64,000	-1,000	2,000	27,000	40,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest
0	-2,000	46,000	3,000	5,000	-6,000	20,000	9,000	7,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: net loss attributable to noncontrolling interests
0	0	0	-2,000	-1,000	-7,000	0	-2,000	-30,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income from discontinued operations attributable to MIC
0	-2,000	46,000	5,000	6,000	1,000	20,000	11,000	37,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to MIC
11,000	14,000	61,000	11,000	70,000	0	22,000	38,000	77,000	348,870	40,095	26,020	36,015	72,808	42,026	19,192	22,355	32,923	10,638	-63,096	-89,002	20,969	990,993	9,700	20,366	15,824	10,407	-848	5,871	-10,030	-1,879	11,138	14,092	12,292	6,376	-2,490	11,165	8,942	85,850
Basic income per share from continuing operations attributable to MIC (in dollars per share)
0.13	0.17	0.18	0.07	0.75	-0.01	0.02	0.32	0.47	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.20	0.02
Basic income per share from discontinued operations attributable to MIC (in dollars per share)
0.00	-0.01	0.53	0.06	0.07	0.00	0.23	0.13	0.44	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.87
Basic income per share attributable to MIC (in dollars per share)
0.13	0.16	0.71	0.13	0.82	-0.01	0.25	0.45	0.91	4.18	0.48	0.32	0.44	0.89	0.52	0.24	0.28	0.50	0.13	-0.80	-1.22	1.44	14.57	0.17	0.36	0.31	0.20	-0.02	0.12	-0.21	-0.04	0.24	0.30	0.26	0.14	-0.05	0.24	0.20	1.89
Weighted average number of shares outstanding: basic (in shares)
86,686	86,491	86,276	86,073	85,872	85,654	85,378	85,082	84,821	84,604	83,644	82,430	82,138	81,867	81,220	80,369	80,113	79,969	79,625	79,246	73,150	71,026	68,005	56,559	56,369	54,007	53,043	50,889	47,584	46,967	46,684	46,532	46,356	46,259	46,088	45,901	45,730	45,715	45,467
Diluted income per share from continuing operations attributable to MIC (in dollars per share)
0.13	0.19	0.18	0.07	0.73	-0.01	0.02	0.32	0.47	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.20	0.02
Diluted income per share from discontinued operations attributable to MIC (in dollars per share)
0.00	0.00	0.53	0.06	0.06	0.00	0.23	0.13	0.44	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.86
Diluted income per share attributable to MIC (in dollars per share)
0.13	0.19	0.71	0.13	0.79	-0.01	0.25	0.45	0.91	3.89	0.48	0.32	0.44	0.82	0.51	0.24	0.28	0.50	0.13	-0.80	-1.22	1.70	13.87	0.17	0.36	0.31	0.20	-0.02	0.12	-0.21	-0.04	0.24	0.30	0.26	0.14	-0.05	0.24	0.20	1.88
Weighted average number of shares outstanding: diluted (in shares)
86,718	78,501	86,303	86,099	93,913	85,678	85,398	85,091	84,830	111,789	87,916	82,439	82,147	80,629	85,750	81,323	81,171	79,251	80,343	79,246	73,150	75,230	71,517	56,572	56,382	54,036	53,056	50,889	47,603	47,003	46,684	46,553	46,379	46,310	46,109	45,901	45,762	45,747	45,604
Cash dividends declared per share (in dollars per share)
0.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.44	1.42	1.38	1.32	1.31	1.29	1.25	1.20	1.15	1.13	1.11	1.07	1.02	0.98	0.95	0.93	0.91	0.87	0.87	0.68	0.68	0.68	0.62	0.20	0.20	0.20	0.20	0.20	-	-
Service [Member]
Revenue from Contract with Customer, Excluding Assessed Tax
356,000	364,000	347,000	355,000	418,000	375,000	361,000	376,000	403,000	378,931	358,220	345,045	363,804	346,125	323,975	306,221	312,241	314,863	319,827	327,809	326,002	339,059	317,915	205,269	202,439	469,175	198,784	50,286	52,115	608,564	56,214	51,430	52,409	48,942	55,420	47,923	51,247	54,598	49,794
Cost of services and product sales
145,000	169,000	154,000	162,000	168,000	178,000	167,000	180,000	187,000	168,962	153,218	147,114	154,706	152,591	134,512	120,857	116,463	130,842	138,353	148,417	133,417	159,682	158,476	115,497	112,954	300,096	111,074	12,073	10,934	407,504	15,044	13,784	12,661	12,040	15,860	12,690	12,154	16,625	13,318
Product [Member]
Revenue from Contract with Customer, Excluding Assessed Tax
60,000	60,000	58,000	61,000	64,000	62,000	60,000	60,000	64,000	-53,439	94,841	93,945	87,653	-58,583	96,549	91,358	84,146	86,491	95,882	95,880	72,496	66,083	70,344	74,964	73,009	-138,318	64,118	167,181	174,115	-247,575	166,385	169,129	172,954	165,041	159,834	161,582	153,064	129,217	125,177
Cost of services and product sales
42,000	37,000	43,000	45,000	40,000	51,000	39,000	41,000	48,000	20,857	35,669	40,249	47,225	11,517	39,845	35,018	33,060	43,545	41,035	45,247	39,127	44,230	47,815	50,597	50,239	-85,370	44,626	109,594	116,993	-158,679	111,677	115,720	119,381	111,023	107,475	113,226	105,325	78,843	79,887