Financial Fundamentals

About Us

Financial Fundamentals

Financial Fundamentals

Balance Sheet

  Year Ending Dec 2023 (Update) Year Ending Dec 2022 (Update) Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update)
Cash & Equivalents 58.32 17.55 27.46 46.34 90.50
Cash and Short Term Investments 58.32 17.55 27.46 46.34 90.50
Accounts Receivable - Trade, Gross 198.69 194.72 183.22 173.99 198.48
Provision for Doubtful Accounts 0.00 -3.95 -4.13 -5.09 -7.98
Accounts Receivable - Trade, Net 198.69 190.77 179.09 168.91 190.51
Total Receivables, Net 198.69 190.77 179.09 168.91 190.51
Other Property/Plant/Equipment - Gross 3,788.03 3,948.18 3,892.21 3,841.59 4,322.89
Property/Plant/Equipment, Total - Gross 3,788.03 3,948.18 3,892.21 3,841.59 4,322.89
Accumulated Depreciation, Total -1,131.79 -1,063.06 -957.45 -896.56 -973.32
Property/Plant/Equipment, Total - Net 2,675.27 2,904.79 2,955.07 2,966.01 3,371.23
Intangibles - Gross 0.00 56.21 73.03 94.17 177.58
Accumulated Intangible Amortization 0.00 -37.76 -44.47 -45.60 -92.73
Intangibles, Net 7.69 18.45 28.56 48.57 84.85
LT Investment - Affiliate Companies 601.23 567.64 435.51 401.33 120.29
Long Term Investments 601.23 567.64 435.51 401.33 120.29
Note Receivable - Long Term 0.00 0.00 0.00 0.00 0.00
Deferred Charges 95.98 96.64 86.86 84.86 95.56
Discontinued Operations - Long Term Asset 0.00 0.00 0.56 7.35 7.35
Restricted Cash - Long Term 9.22 0.00 0.00 0.00 0.00
Other Long Term Assets, Total 105.20 96.64 87.42 92.21 102.91
Other Assets 86.05 78.67 133.09 176.75 115.68
Other Assets, Total 86.05 78.67 133.09 176.75 115.68
Total Assets 3,732.45 3,874.51 3,846.20 3,900.11 4,075.97
Payable/Accrued 123.83 132.44 150.15 121.98 113.35
Accrued Expenses 23.37 23.17 22.96 22.76 22.55
Notes Payable/Short Term Debt 0.00 0.00 0.00 0.00 0.00
Dividends Payable 26.02 32.79 32.77 32.71 33.82
Other Current liabilities, Total 26.02 32.79 32.77 32.71 33.82
Long Term Debt 2,138.83 1,965.04 1,853.59 1,830.60 2,144.42
Total Long Term Debt 0.00 1,965.04 1,853.59 1,830.60 2,144.42
Total Debt 2,138.83 1,965.04 1,853.59 1,830.60 2,144.42
Minority Interest 6.77 7.70 10.95 10.51 10.43
Discontinued Operations - Liabilities 0.00 0.00 0.00 0.00 0.00
Other Liabilities 96.25 87.74 85.51 87.42 73.53
Other Liabilities, Total 96.25 87.74 85.51 87.42 73.53
Total Liabilities 2,415.06 2,248.87 2,155.93 2,105.96 2,398.09
Convertible Preferred Stock – Non-Redeemable 0.00 0.00 0.00 0.00 0.00
Preferred Stock - Non Redeemable, Net 0.00 0.00 0.00 0.00 0.00
Common Stock 1.72 1.72 1.71 1.71 1.77
Common Stock, Total 1.72 1.72 1.71 1.71 1.77
Additional Paid-In Capital 3,163.95 3,153.23 3,146.79 3,138.15 3,192.16
Retained Earnings (Accumulated Deficit) -1,847.62 -1,533.21 -1,456.21 -1,338.16 -1,513.68
Treasury Stock - Common -19.97 -19.60 -18.49 -17.52 -16.22
Other Comprehensive Income 19.30 23.50 16.47 9.96 13.85
Other Equity, Total 19.30 23.50 16.47 9.96 13.85
Total Equity 1,317.38 1,625.63 1,690.27 1,794.14 1,677.88
Total Liabilities & Shareholders' Equity 3,732.45 3,874.51 3,846.20 3,900.11 4,075.97
Shares Outstanding – Common Stock Primary Issue 0.00 171.57 171.13 170.57 176.48
Total Common Shares Outstanding 172.10 171.57 171.13 170.57 176.48
Treasury Shares – Common Primary Issue 0.00 0.00 0.00 0.00 0.00
Shares Outstanding - Preferred Issue 5 0.00 0.00 0.00 0.00 0.00
Total Preferred Shares Outstanding 0.00 0.00 0.00 0.00 0.00
Treasury Shares - Preferred Issue 5 0.00 0.00 0.00 0.00 0.00
Employees 0.00 328.00 324.00 341.00 337.00
Part-Time Employees 0.00 6.00 3.00 0.00 0.00
Number of Common Shareholders 0.00 559.00 564.00 563.00 570.00
Accumulated Intangible Amortization 0.00 37.76 44.47 45.60 92.73
Deferred Revenue - Long Term 24.25 25.08 23.85 21.40 35.28
Net Debt 0.00 1,955.19 1,837.08 1,794.76 2,064.35
Tangible Book Value 0.00 1,607.18 1,661.71 1,745.57 1,593.03
Tangible Book Value per Share 0.00 9.37 9.71 10.23 9.03
Total Long Term Debt, Supplemental 0.00 1,971.41 1,851.61 1,828.61 2,144.05
Long Term Debt Maturing within 1 Year 0.00 54.30 273.00 0.00 87.23
Long Term Debt Maturing in Year 2 0.00 350.00 350.00 250.00 15.14
Long Term Debt Maturing in Year 3 0.00 0.00 350.00 350.00 256.33
Long Term Debt Maturing in Year 4 0.00 88.50 0.00 350.00 556.74
Long Term Debt Maturing in Year 5 0.00 700.00 0.00 0.00 350.00
Long Term Debt Maturing in 2-3 Years 0.00 350.00 700.00 600.00 271.48
Long Term Debt Maturing in 4-5 Years 0.00 788.50 0.00 350.00 906.74
Long Term Debt Maturing in Year 6 & Beyond 0.00 778.61 878.61 878.61 878.61
Total Operating Leases 0.00 23.17 22.96 22.76 22.55
Operating Lease Payments Due in Year 1 0.00 1.26 1.25 1.23 1.22
Operating Lease Payments Due in Year 2 0.00 1.31 1.26 1.25 1.23
Operating Lease Payments Due in Year 3 0.00 1.32 1.31 1.26 1.25
Operating Lease Payments Due in Year 4 0.00 1.34 1.32 1.31 1.26
Operating Lease Payments Due in Year 5 0.00 1.36 1.34 1.32 1.31
Operating Lease Payments Due in 2-3 Years 0.00 2.63 2.57 2.51 2.48
Operating Lease Payments Due in 4-5 Years 0.00 2.69 2.66 2.63 2.57
Standardized Operating Lease Payments Due in Year 6 and Beyond 0.00 16.58 16.49 16.39 16.29
Number of Operating Partnership Units 0.00 0.00 823,983.00 0.00 981,634.00
Net Asset Value (NAV) 1,317.38 1,625.63 1,690.27 1,794.14 1,677.88
Number of Units or Properties 69.00 72.00 77.00 78.00 90.00
Total Square Meters Available for Lease 1,179,830.00 1,189,120.00 1,211,382.00 1,246,029.70 1,496,622.90
Average Square Meters Leased 17,098.99 16,515.56 15,732.23 15,974.74 16,629.14

Income Statement

  Year Ending Dec 2023 (Update) Year Ending Dec 2022 (Update) Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update)
Net Sales 514.65 506.10 486.82 534.85 580.42
Revenue 514.65 506.10 486.82 534.85 580.42
Total Revenue 514.65 506.10 486.82 534.85 580.42
Cost of Revenue 189.95 192.23 186.17 203.31 223.69
Cost of Revenue, Total 189.95 192.23 186.17 203.31 223.69
Gross Profit -- 313.87 300.65 331.54 356.73
Selling/General/Administrative Expense 34.86 37.17 32.30 32.43 34.31
Selling/General/Administrative Expenses, Total 34.86 37.17 32.30 32.43 34.31
Depreciation 188.80 177.98 178.11 188.28 210.01
Depreciation/Amortization 188.80 177.98 178.11 188.28 210.01
Impairment-Assets Held for Use 131.57 4.66 0.70 -- 0.00
Other Unusual Expense (Income) -0.14 0.44 -- -- 0.00
Unusual Expense (Income) 131.44 5.10 0.70 -- 0.00
Total Operating Expense 545.18 412.49 397.27 424.03 468.01
Operating Income -30.53 93.61 89.55 110.83 112.41
Interest Expense - Non-Operating -99.83 -82.37 -74.14 -81.47 -84.28
Interest Capitalized - Non-Operating -- 10.52 8.69 4.65 --
Interest Expense, Net Non-Operating -99.83 -71.86 -65.45 -76.82 -84.28
Interest Income, Non-Operating 1.67 1.91 8.30 1.94 2.32
Investment Income, Non-Operating -77.92 -22.02 -26.00 -18.58 -9.92
Interest/Investment Income, Non-Operating -76.24 -20.11 -17.71 -16.65 -7.60
Interest Income (Expense), Net-Non-Operating, Total -176.07 -91.97 -83.16 -93.46 -91.88
Gain (Loss) on Sale of Assets 10.16 52.40 6.02 289.74 14.02
Other Non-Operating Income (Expense) -- -- -- -- --
Other, Net -- -- -- -- --
Net Income Before Taxes -197.33 54.05 12.41 307.10 34.54
Income Tax – Total 0.07 0.06 0.05 -0.22 0.01
Income After Tax -- 53.99 12.37 307.33 34.53
Minority Interest 0.61 -0.17 -0.08 -1.80 -0.26
Net Income Before Extraordinary Items -- 53.82 12.29 305.53 34.27
Discontinued Operations -- -- -- -- --
Total Extraordinary Items -- -- -- -- --
Net Income -196.79 53.82 12.29 305.53 34.27
Preferred Dividends -- -- -- -- 0.00
Miscellaneous Earnings Adjustment -0.57 -0.46 -0.42 -0.41 -0.40
Total Adjustments to Net Income -0.57 -0.46 -0.42 -0.41 -0.40
Income Available to Common Excluding Extraordinary Items -197.36 53.37 11.87 305.12 33.87
Income Available to Common Stocks Including Extraordinary Items -197.36 53.37 11.87 305.12 33.87
Basic Weighted Average Shares 171.96 171.49 170.88 171.93 176.13
Basic EPS Excluding Extraordinary Items -1.15 0.31 0.07 1.77 0.19
Basic EPS Including Extraordinary Items -1.15 0.31 0.07 1.77 0.19
Dilution Adjustment -- -- -- -- --
Diluted Net Income -- 53.37 11.87 305.12 33.87
Diluted Weighted Average Shares 171.96 172.33 172.27 172.32 176.69
Diluted EPS Excluding Extraordinary Items -1.15 0.31 0.07 1.77 0.19
Diluted EPS Including Extraordinary Items -1.15 0.31 0.07 1.77 0.19
DPS - Common Stock Primary Issue 0.69 0.76 0.76 0.76 0.76
Gross Dividends - Common Stock -- 130.82 130.35 130.01 134.32
Total Special Items -- -47.30 -5.32 -289.74 -14.02
Normalized Income Before Taxes -- 6.74 7.09 17.37 20.53
Effect of Special Items on Income Taxes -- -0.05 -0.02 -101.41 0.00
Income Taxes Excluding Impact of Special Items -- 0.01 0.03 -101.63 0.01
Normalized Income After Taxes -- 6.74 7.06 119.00 20.52
Normalized Income Available to Common -- 6.11 6.57 116.79 19.86
Basic Normalized EPS -- 0.04 0.04 0.68 0.11
Diluted Normalized EPS -- 0.04 0.04 0.68 0.11
Funds From Operations - REIT -- 238.23 237.64 240.49 253.35
Depreciation, Supplemental 188.80 177.98 178.11 188.28 210.01
Interest Expense, Supplemental 99.83 71.86 65.45 76.82 82.03
Interest Capitalized, Supplemental -- -10.52 -8.69 -4.65 -2.25
Rental Expense, Supplemental -- 2.10 2.10 2.10 2.15
Stock-Based Compensation, Supplemental -- 7.72 6.35 6.24 10.03
Equity in Affiliates, Supplemental -77.92 -22.02 -26.00 -18.58 -9.92
Minority Interest, Supplemental 0.61 -0.17 -0.08 -1.80 -0.26
Audit-Related Fees, Supplemental -- 1.43 1.23 1.23 1.53
Audit-Related Fees -- 0.00 0.00 0.00 0.00
Tax Fees, Supplemental -- 0.00 0.00 0.00 0.00
All Other Fees Paid to Auditor, Supplemental -- 0.00 0.00 0.00 0.00
Gross Margin -- 62.02 61.76 61.99 61.46
Operating Margin -5.93 18.50 18.40 20.72 19.37
Pretax Margin -38.34 10.68 2.55 57.42 5.95
Effective Tax Rate -- 0.10 0.38 -0.07 0.03
Net Profit Margin -38.35 10.54 2.44 57.05 5.84
Normalized EBIT -- 98.71 90.25 110.83 112.41
Normalized EBITDA -- 276.69 268.36 299.11 322.42
Defined Contribution Expense - Domestic -- 0.40 0.40 0.50 0.40
Total Pension Expense -- 0.40 0.40 0.50 0.40
FFO per Share (Diluted) 1.15 1.38 1.37 1.39 1.43
Net Operating Income (NOI) 324.70 311.70 298.51 329.40 354.57

Cash Flow

  Year Ending Dec 2022 (Update) Year Ending Dec 2021 (Update) Year Ending Dec 2020 (Update) Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Reclassified)
Net Income/Starting Line 53.99 12.37 307.33 34.53 135.47
Depreciation – Supplemental 177.98 178.11 188.28 210.01 176.00
Depreciation/Depletion 177.98 178.11 188.28 210.01 176.00
Deferred Taxes 0.06 0.05 -0.22 0.01 0.42
Unusual Items -47.30 -6.02 -289.74 -14.02 -72.32
Equity in Net Earnings (Loss) 23.52 26.70 18.58 10.24 12.87
Other Non-Cash Items -8.62 -9.93 -8.14 -10.27 -32.79
Non-Cash Items -32.40 10.75 -279.30 -14.04 -92.23
Accounts Receivable 1.33 2.51 -2.03 -0.25 3.52
Other Assets -1.12 -19.33 -5.03 9.37 -14.33
Payable/Accrued 5.41 2.97 14.37 -5.60 12.58
Other Liabilities 4.07 3.45 2.41 0.20 5.92
Changes in Working Capital 9.68 -10.39 9.72 3.73 7.69
Cash from Operating Activities 209.31 190.87 225.81 234.23 227.35
Purchase of Fixed Assets -266.46 -135.12 -202.20 -198.30 -409.22
Capital Expenditures -266.46 -135.12 -202.20 -198.30 -409.22
Sale of Fixed Assets 64.21 10.30 278.11 51.53 384.44
Sale/Maturity of Investment 46.90 27.03 9.00 3.34 0.19
Purchase of Investments -47.43 -31.64 -0.72 -2.43 -176.08
Other Investing Cash Flow 12.19 29.12 -65.91 15.21 -13.83
Other Investing Cash Flow Items, Total 75.87 34.81 220.49 67.64 194.72
Cash from Investing Activities -190.59 -100.32 18.29 -130.66 -214.51
Other Financing Cash Flow -13.27 0.32 -2.09 -4.24 -6.07
Financing Cash Flow Items -13.27 0.32 -2.09 -4.24 -6.07
Cash Dividends Paid - Common -130.72 -130.26 -131.15 -134.14 -128.86
Total Cash Dividends Paid -130.72 -130.26 -131.15 -134.14 -128.86
Sale/Issuance of Common -- 0.42
Repurchase/Retirement of Common -- -60.00 -17.28 -21.84
Common Stock, Net -- -60.00 -17.28 -21.43
Sale/Issuance of Preferred
Repurchase/Retirement of Preferred -4.01 -2.33 -- -7.04
Preferred Stock, Net -4.01 -2.33 -- -7.04
Options Exercised -- -0.06 0.05 3.77 --
Issuance (Retirement) of Stock, Net -4.01 -2.40 -59.95 -13.51 -28.47
Long Term Debt Issued 828.00 154.00 318.00 564.87 455.50
Long Term Debt Reduction -708.63 -131.00 -412.99 -448.60 -485.18
Long Term Debt, Net 119.37 23.00 -94.99 116.28 -29.68
Issuance (Retirement) of Debt, Net 119.37 23.00 -94.99 116.28 -29.68
Cash from Financing Activities -28.63 -109.34 -288.19 -35.61 -193.07
Net Change in Cash -9.91 -18.78 -44.09 67.96 -180.23
Net Cash - Beginning Balance 28.30 47.08 91.17 23.21 203.44
Net Cash - Ending Balance 18.39 28.30 47.08 91.17 23.21
Cash Interest Paid 85.76 72.39 79.50 66.51 76.86
Cash Taxes Paid 0.90 0.79 0.69 1.39 0.41

In millions of USD (except for per share items)

Copyright Refinitiv