SELECT INCOME REIT SIR Income Statement

Select income reit (SIR)

Income statement / TTM

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	Mar'11
REVENUES:
Rental income
397,268	394,070	394,696	392,285	389,523	386,925	386,499	387,015	387,262	385,970	381,521	364,139	315,081	268,859	225,158	189,743	183,729	176,375	166,616	159,011	148,620	133,895	118,943	105,559	0	0	0	0
Tenant reimbursements and other income
79,174	78,505	77,742	75,818	75,490	75,110	74,570	74,992	74,704	72,902	69,661	64,226	54,885	45,865	38,909	32,937	32,489	31,727	30,875	29,312	26,175	23,194	20,120	17,231	0	0	0	0
Total revenues
476,442	472,575	472,438	468,103	465,013	462,035	461,069	462,007	461,966	458,872	451,182	428,365	369,966	314,724	264,067	222,680	216,218	208,102	197,491	188,323	174,795	157,089	139,063	122,790	0	0	0	0
EXPENSES:
Real estate taxes
47,711	46,682	45,076	44,131	44,482	43,748	43,434	42,879	41,778	40,894	39,391	37,460	32,869	28,643	25,107	22,202	22,046	21,421	21,097	20,271	18,962	17,837	16,355	15,370	0	0	0	0
Other operating expenses
58,242	58,077	57,982	55,567	54,009	53,754	52,866	52,957	51,819	48,738	45,904	41,953	35,052	28,376	23,077	18,597	18,410	18,040	17,390	16,111	14,178	11,726	9,897	8,426	0	0	0	0
Depreciation and amortization
140,228	139,570	138,878	137,672	136,292	134,945	134,033	133,762	132,967	132,671	131,656	122,906	100,791	78,374	56,479	41,054	39,088	36,920	33,720	31,091	27,623	23,026	18,752	14,860	0	0	0	0
Acquisition and transaction related costs
0	-	-	-	0	-	-	306	338	727	1,506	21,987	23,329	28,292	27,649	7,348	6,262	1,687	1,707	2,002	2,062	1,947	0	-	0	0	-	-
General and administrative
77,474	63,751	53,858	54,818	31,396	37,341	36,527	28,602	28,274	27,049	26,043	25,859	23,246	20,667	16,497	14,881	14,662	14,121	14,880	12,423	11,423	10,841	9,518	8,203	0	0	0	0
Write-off of straight line rents receivable, net
10,626	10,626	0	12,517	12,517	12,517	12,517	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on asset impairment
0	0	0	4,047	4,047	4,047	4,047	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on impairment of real estate assets
0	0	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total expenses
348,858	319,781	297,098	310,056	288,691	292,313	289,156	263,990	255,176	250,079	244,500	250,165	215,287	184,352	148,809	104,082	100,468	92,189	88,794	81,898	74,877	65,914	57,525	49,329	0	0	0	0
Operating income
127,584	152,794	175,340	158,047	176,322	169,722	171,913	198,017	206,790	208,793	206,682	178,200	154,679	130,372	115,258	118,598	115,750	115,913	108,697	106,425	99,918	91,175	81,538	73,461	0	0	0	0
Dividend income
1,587	1,587	1,587	1,587	1,586	1,586	1,665	1,268	872	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized gain on equity securities
0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income
0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense (including net amortization of debt issuance costs, premiums and discounts of $1,746, $1,716, $5,245 and $4,688, respectively)
94,038	95,134	95,275	92,870	89,015	85,322	83,098	82,620	82,058	81,402	80,315	73,885	56,659	39,658	23,795	12,974	13,304	13,503	13,648	13,763	13,613	12,848	10,701	7,565	0	0	0	-
Loss on early extinguishment of debt
-1,192	-1,192	-1,192	0	0	0	0	-	-	-	-	-6,845	-6,845	-6,845	-6,845	243	0	0	0	-	-	-	-	-	-	-	-	-
Income before income tax expense, equity in earnings of an investee and gain on sale of real estate
87,814	89,043	97,857	66,764	88,932	86,006	90,493	116,665	103,553	105,815	104,316	75,419	91,175	83,869	84,618	105,867	102,689	102,653	95,292	92,662	0	0	0	-	-	-	-	-
Income before income tax expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-
Income tax expense
548	540	524	466	442	372	411	448	561	552	623	515	379	311	135	175	-108	-86	-65	-96	0	0	0	-	-	-	-	-
Equity in earnings of an investee
957	157	524	608	563	545	188	137	57	19	25	20	98	161	256	87	174	200	161	334	334	344	0	-	0	0	-	-
Income before gain on sale of real estate
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of real estate
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income before gain on sale of property
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-
Gain on sale of property
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-
Net income
92,298	88,660	97,857	66,906	89,053	86,179	90,270	116,354	103,049	105,282	103,718	74,924	87,749	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-
Net income allocated to noncontrolling interest
15,841	10,244	4,479	0	0	0	0	33	74	120	168	176	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributed to SIR
76,457	78,416	93,378	66,906	89,053	86,179	90,270	116,321	102,975	105,162	103,550	74,748	90,759	83,746	84,814	105,895	103,087	102,939	95,518	93,092	86,182	78,307	70,852	65,875	0	0	0	0
Net income
0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other comprehensive income:
Unrealized gain on investment in available for sale securities
12,615	16,899	15,551	31,419	21,279	28,056	38,861	39,814	37,339	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized gain on interest rate swap
614	638	463	313	1,052	1,337	1,126	93	-441	-1,584	-844	276	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in unrealized gain of an investee
255	198	246	461	273	237	222	152	246	94	-13	-20	-97	-58	28	2	25	72	-23	-50	-32	-47	0	-	0	0	-	-
Other comprehensive income
13,484	17,735	16,260	32,193	22,604	29,630	40,209	40,059	17,324	4,968	-3,856	-19,564	-278	592	246	2	25	72	-23	-50	-32	-47	0	-	0	0	-	-
Comprehensive income
105,782	106,395	114,117	99,099	111,657	115,809	130,479	156,413	120,373	110,250	99,862	55,360	87,444	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-
Comprehensive income allocated to noncontrolling interest
15,841	10,244	4,479	0	0	0	0	33	74	120	168	176	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Comprehensive income attributed to SIR
89,941	96,151	109,638	99,099	111,657	115,809	130,479	156,380	120,299	110,130	99,694	55,184	90,481	84,338	85,060	105,897	103,112	103,011	95,495	93,042	86,106	78,252	70,869	65,900	0	0	0	-
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	-	-	-	-	-	-	-	-	-	-	-