SEC Filings

8-K
SUN COMMUNITIES INC filed this Form 8-K on 06/03/2019
Entire Document
 
 
NET INCOME TO FFO RECONCILIATION (amounts in thousands except per share data) Three Months Ended March 31, Year Ended December 31, 2019 2018 2018 2017 2016 Net income attributable to Sun Communities, Inc. common stockholders $ 34,331 $ 29,986 $ 105,493 $ 65,021 $ 17,369 Adjustments: Depreciation and amortization 76,712 66,646 288,206 262,211 221,576 Remeasurement of marketable securities (267) - 3,639 - - Amounts attributable to noncontrolling interests 723 1,889 7,740 4,535 (41) Preferred return to preferred OP units 527 553 2,206 2,320 2,462 Preferred distribution to Series A-4 preferred stock 432 441 1,737 2,107 - Gain on disposition of assets, net (5,679) (4,539) (23,406) (16,075) (15,713) FFO attributable to Sun Communities, Inc. common stockholders and dilutive convertible securities 106,779 94,976 385,615 320,119 225,653 Adjustments: Other acquisition related costs 160 135 1,001 2,810 3,328 Income from nonconsolidated affiliates - - - - (500) Catastrophic weather related charges, net 782 (2,213) 92 8,352 1,172 Loss of earnings - catastrophic weather related - 325 (292) 292 - Loss on extinguishment of debt 653 196 2,657 6,019 1,127 Other (income) / expense, net (1,898) 2,617 6,453 (8,982) 4,676 Debt premium write-off - (782) (1,467) (1,343) (839) Ground lease intangible write-off - - 817 898 - Deferred tax (benefit) / expense (217) (347) (507) (582) (400) Core FFO attributable to Sun Communities, Inc. common stockholders and dilutive convertible securities 106,259 94,907 394,369 327,583 234,217 Weighted average common shares outstanding - basic 85,520 78,855 81,387 76,084 65,856 Weighted average common shares outstanding - fully diluted 90,105 83,598 86,141 80,996 70,165 FFO attributable to Sun Communities, Inc. common stockholders and dilutive convertible securities per share - fully diluted $ 1.19 $ 1.14 $ 4.48 $ 3.95 $ 3.22 Core FFO attributable to Sun Communities, Inc. common stockholders and dilutive convertible securities per share - fully diluted $ 1.18 $ 1.14 $ 4.58 $ 4.17 $ 3.79 Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended March 31, 2019 as well as Press Releases after March 31, 2019 for additional information.