SEC Filings

8-K
SUN COMMUNITIES INC filed this Form 8-K on 06/03/2019
Entire Document
 
 
NET INCOME TO RECURRING EBITDA 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 Adjustments: Interest expense 35,108 31,757 132,783 130,242 122,315 Loss on extinguishment of debt 653 196 2,657 6,019 1,127 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) Depreciation and amortization 76,556 66,437 287,262 261,536 221,770 Gain on disposition of assets, net (5,679) (4,539) (23,406) (16,075) (15,713) EBITDAre 140,622 123,723 $ 504,231 $ 446,607 $ 346,651 Adjustments: Reameasurement of marketable securities (267) - 3,639 - - Other (income) / expense, net (1,898) 2,617 6,453 (8,982) 4,676 Catastrophic weather related charges, net 782 (2,213) 92 8,352 1,172 Preferred return to preferred OP units / equity 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 Preferred stock redemption costs - - - - - Plus: Gain on dispositions of assets, net 5,679 4,539 23,406 16,075 15,713 Recurring EBITDA $ 147,714 $ 132,281 $ 552,486 $ 478,850 $ 382,314 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.