SEC Filings

8-K
SUN COMMUNITIES INC filed this Form 8-K on 06/03/2019
Entire Document
 
 
NET INCOME TO NOI RECONCILIATION (amounts in thousands) 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 Other revenues (8,480) (6,276) (27,057) (24,874) (21,150) Home selling expenses 3,324 3,290 15,722 12,457 9,744 General and administrative 21,887 19,757 81,429 83,973 95,525 Depreciation and amortization 76,556 66,437 287,262 261,536 221,770 Loss on extinguishment of debt 653 196 2,657 6,019 1,127 Interest expense 35,108 31,757 132,783 130,242 122,315 Catastrophic weather related charges, net 782 (2,213) 92 8,352 1,172 Other (income) / expense, net (1,898) 2,617 6,453 (8,982) 4,676 Remeasurement of marketable securities (267) - 3,639 - - Current tax expense 214 174 595 446 683 Deferred tax benefit (217) (347) (507) (582) (400) (Income) / loss from nonconsolidated affiliates (344) 59 (646) - (500) Preferred return to preferred OP units 1,323 1,080 4,486 4,581 5,006 Amounts attributable to noncontrolling interests 1,041 2,094 8,443 5,055 150 Preferred stock distributions 432 441 1,736 7,162 8,946 NOI/Gross Profit $ 164,445 $ 149,052 $ 622,580 $ 550,406 $ 466,433 Three Months Ended March 31, Year Ended December 31, 2019 2018 2018 2017 2016 Real Property NOI $ 143,540 $ 131,745 $ 533,321 $ 479,662 $ 403,337 Rental Program NOI 26,061 24,102 96,112 92,222 84,968 Home Sales NOI / Gross Profit 10,341 8,329 42,698 32,294 30,087 Ancillary NOI / Gross Profit 1,381 1,185 16,064 10,061 9,641 Site rent from Rental Program (included in Real Property NOI) (16,878) (16,309) (65,615) (63,833) (61,600) NOI / Gross Profit $ 164,445 $ 149,052 $ 622,580 $ 550,406 $ 466,433 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.