Select income reit (SIR)
Income statement / Quarterly
Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Mar'11
REVENUES:
Rental income

101,833

96,415

99,755

99,265

98,635

97,041

97,344

96,503

96,037

96,615

97,860

96,750

94,745

92,166

80,478

47,692

48,523

48,465

45,063

41,678

41,169

38,706

37,458

31,287

26,444

23,754

24,074

23,737

Tenant reimbursements and other income

20,048

19,592

20,874

18,660

19,379

18,829

18,950

18,332

18,999

18,289

19,372

18,044

17,197

15,048

13,937

8,703

8,177

8,092

7,965

8,255

7,415

7,240

6,402

5,118

4,434

4,166

3,513

4,043

Total revenues

121,881

116,007

120,629

117,925

118,014

115,870

116,294

114,835

115,036

114,904

117,232

114,794

111,942

107,214

94,415

56,395

56,700

56,557

53,028

49,933

48,584

45,946

43,860

36,405

30,878

27,920

27,587

27,780

EXPENSES:
Real estate taxes

12,518

12,442

11,788

10,963

11,489

10,836

10,843

11,314

10,755

10,522

10,288

10,213

9,871

9,019

8,357

5,622

5,645

5,483

5,452

5,466

5,020

5,159

4,626

4,157

3,895

3,677

3,641

3,603

Other operating expenses

14,814

13,618

15,282

14,528

14,649

13,523

12,867

12,970

14,394

12,635

12,958

11,832

11,313

9,801

9,007

4,931

4,637

4,502

4,527

4,744

4,267

3,852

3,248

2,811

1,815

2,023

1,777

2,532

Depreciation and amortization

35,371

35,009

34,946

34,902

34,713

34,317

33,740

33,522

33,366

33,405

33,469

32,727

33,070

32,390

24,719

10,612

10,653

10,495

9,294

8,646

8,485

7,295

6,665

5,178

3,888

3,021

2,773

2,712

Acquisition and transaction related costs

3,796

-

-

-

0

-

-

235

13

0

58

267

402

779

20,539

1,609

5,365

136

238

523

790

156

533

-

583

675

-

-

General and administrative

15,331

18,081

13,941

30,121

1,608

8,188

14,901

6,699

7,553

7,374

6,976

6,371

6,328

6,368

6,792

3,758

3,749

2,198

5,176

3,539

3,208

2,957

2,719

2,539

2,626

1,634

1,404

1,456

Write-off of straight line rents receivable, net

0

10,626

0

0

0

0

12,517

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on asset impairment

0

0

0

0

0

0

4,047

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on impairment of real estate assets

9,706

0

-

-

0

229

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total expenses

91,536

89,776

75,957

91,589

62,459

67,093

88,915

70,224

66,081

63,936

63,749

61,410

60,984

58,357

69,414

26,532

30,049

22,814

24,687

22,918

21,770

19,419

17,791

15,897

12,807

11,030

9,595

10,303

Operating income

30,345

26,231

44,672

26,336

55,555

48,777

27,379

44,611

48,955

50,968

53,483

53,384

50,958

48,857

25,001

29,863

26,651

33,743

28,341

27,015

26,814

26,527

26,069

20,508

18,071

16,890

17,992

17,477

Dividend income

397

396

397

397

397

396

397

396

397

475

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized gain on equity securities

22,771

13,488

16,900

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest income

133

110

510

-

19

7

13

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest expense (including net amortization of debt issuance costs, premiums and discounts of $1,746, $1,716, $5,245 and $4,688, respectively)

23,287

22,667

23,492

24,592

24,383

22,808

21,087

20,737

20,690

20,584

20,609

20,175

20,034

19,497

14,179

2,949

3,033

3,634

3,358

3,279

3,232

3,779

3,473

3,129

2,467

1,632

337

-

Loss on early extinguishment of debt

0

0

-1,192

0

0

0

0

-

-

-

-

0

0

0

-6,845

0

0

0

243

-

-

-

-

-

-

-

-

-

Income before income tax expense, equity in earnings of an investee and gain on sale of real estate

30,359

17,558

37,795

2,102

31,588

26,372

6,702

24,270

28,662

30,859

32,874

11,158

30,924

29,360

3,977

26,914

23,618

30,109

25,226

23,736

23,582

22,748

22,596

-

-

-

-

-

Income before income tax expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,719

15,332

17,655

-

Income tax expense

185

101

160

102

177

85

102

78

107

124

139

191

98

195

31

55

30

19

71

-228

52

40

40

-

-

-

-

-

Equity in earnings of an investee

831

7

44

75

31

374

128

30

13

17

77

-50

-25

23

72

28

38

118

-97

115

64

79

76

-

115

74

-

-

Income before gain on sale of real estate

31,005

-

-

-

31,442

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on sale of real estate

4,075

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income before gain on sale of property

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

23,626

-

-

-

23,594

-

-

-

-

-

-

-

Gain on sale of property

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

116

-

-

-

-

-

-

-

-

-

-

-

Net income

35,080

17,464

37,679

2,075

31,442

26,661

6,728

24,222

28,568

30,752

32,812

10,917

30,801

29,188

4,018

-

23,742

-

-

-

-

-

-

-

-

-

-

-

Net income allocated to noncontrolling interest

5,597

5,765

4,479

0

0

0

0

0

0

0

33

41

46

48

41

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income attributed to SIR

29,483

11,699

33,200

2,075

31,442

26,661

6,728

24,222

28,568

30,752

32,779

10,876

30,755

29,140

3,977

26,887

23,742

30,208

25,058

24,079

23,594

22,787

22,632

17,169

15,719

15,332

17,655

17,477

Net income

35,080

17,464

37,679

-

31,442

26,661

6,728

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other comprehensive income:
Unrealized gain on investment in available for sale securities

0

0

0

12,615

4,284

-1,348

15,868

2,475

11,061

9,457

16,821

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized gain on interest rate swap

3

78

281

252

27

-97

131

991

312

-308

-902

457

-831

432

218

-

-

-

-

-

-

-

-

-

-

-

-

-

Equity in unrealized gain of an investee

173

10

-93

165

116

58

122

-23

80

43

52

71

-72

-64

45

-6

-33

22

19

17

14

-73

-8

-

35

-1

-

-

Other comprehensive income

176

88

188

13,032

4,427

-1,387

16,121

3,443

11,453

9,192

15,971

-19,292

-903

368

263

-6

-33

22

19

17

14

-73

-8

-

35

-1

-

-

Comprehensive income

35,256

17,552

37,867

15,107

35,869

25,274

22,849

27,665

40,021

39,944

48,783

-8,375

29,898

29,556

4,281

-

23,709

-

-

-

-

-

-

-

-

-

-

-

Comprehensive income allocated to noncontrolling interest

5,597

5,765

4,479

0

0

0

0

0

0

0

33

41

46

48

41

-

-

-

-

-

-

-

-

-

-

-

-

-

Comprehensive income attributed to SIR

29,659

11,787

33,388

15,107

35,869

25,274

22,849

27,665

40,021

39,944

48,750

-8,416

29,852

29,508

4,240

26,881

23,709

30,230

25,077

24,096

23,608

22,714

22,624

17,160

15,754

15,331

17,655

-

Weighted average common shares outstanding - basic (in shares)

89,410

89,393

89,382

89,380

89,355

89,338

89,331

89,330

89,308

89,292

89,286

89,423

89,267

88,617

79,489

59,980

59,857

54,178

49,841

49,899

49,686

39,288

39,283

32,877

31,206

31,200

13,205

-

Weighted average common shares outstanding - diluted (in shares)

89,437

89,416

89,390

89,391

89,379

89,362

89,348

89,352

89,334

89,315

89,295

89,429

89,274

88,631

79,498

-

59,910

-

-

-

-

-

-

-

-

-

-

-

Net income attributed to SIR per common share - basic and diluted (in USD per share)

0.33

0.13

0.37

0.02

0.35

0.30

0.08

0.27

0.32

0.34

0.37

0.14

0.34

0.33

0.05

-

-

-

-

-

-

-

-

-

-

-

-

-

Basic net income attributed to SIR per common share (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.40

0.56

0.50

-

0.47

0.58

0.58

0.10

0.50

0.49

1.34

-

Diluted net income attributed to SIR per common share (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.40

-

-

-

-

-

-

-

-

-

-

-