In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
Revenues: |
Multifamily Segment | 0.4 | 0.3 | 0.4 | | | | |
Office | | | | | | | 347.2 |
Other | 0.2 | 0.2 | | | | | 29.7 |
Multifamily | | | | | | | 55.9 |
Other | 633.7 | 602.2 | 647.4 | | | | 37.9 |
Total revenues [+] | 634.4 | 602.7 | 647.8 | 644.2 | 543.0 | 478.5 | 470.6 |
Tenant reimbursements | | | | | | | 40.5 |
Management fees | | | | | | | 29.5 |
Lease / rental | | | | | 451.5 | 401.6 | 389.8 |
Other income | 20.8 | 29.8 | 33.6 | 32.0 | | 5.4 | 10.9 |
Revenue growth [+] | 5.2% | -7.0% | 0.6% | 18.6% | 13.5% | 1.7% | |
Multifamily Segment | 26.9% | -13.9% | | | | | |
Other | 2.9% | | | | | | |
Cost of goods sold [+] | 221.5 | 216.6 | 208.1 | 219.1 | 185.3 | 158.1 | 160.4 |
Real estate taxes and insurance | 70.8 | 71.0 | 70.5 | 71.1 | 66.4 | 57.8 | 58.9 |
Real estate or leased property costs | 150.6 | 145.6 | 137.6 | 148.1 | 118.8 | 100.3 | 101.5 |
Gross profit | 412.9 | 386.1 | 439.7 | 425.0 | 357.7 | 320.4 | 310.2 |
Gross margin | 65.1% | 64.1% | 67.9% | 66.0% | 65.9% | 67.0% | 65.9% |
Selling, general and administrative [+] | 53.8 | 46.6 | 46.8 | 33.7 | 39.4 | 48.8 | 44.4 |
General and administrative | 53.8 | 46.6 | 46.8 | 33.7 | 39.4 | 48.8 | 44.4 |
Equity in earnings | -2.1 | -20.3 | -1.4 | 39.4 | -4.1 | -0.9 | -4.3 |
Other operating expenses | 97.9 | 83.4 | 136.0 | 138.8 | 150.9 | -30.7 | 18.2 |
EBITDA [+] | 263.3 | 239.6 | 259.7 | 296.1 | 166.3 | 303.1 | 245.3 |
EBITDA growth | 9.9% | -7.7% | -12.3% | 78.1% | -45.1% | 23.6% | |
EBITDA margin | 41.5% | 39.7% | 40.1% | 46.0% | 30.6% | 63.3% | 52.1% |
Depreciation | 229.3 | 212.3 | 179.8 | 194.1 | 149.6 | 134.3 | 145.2 |
EBITA | 34.0 | 27.3 | 79.8 | 102.0 | 16.6 | 168.8 | 100.1 |
EBITA margin | 5.4% | 4.5% | 12.3% | 15.8% | 3.1% | 35.3% | 21.3% |
Amortization of intangibles | 11.1 | 13.3 | 16.0 | 21.6 | 15.0 | 0.7 | 1.8 |
EBIT [+] | 22.8 | 14.0 | 63.9 | 80.4 | 1.7 | 168.1 | 98.3 |
EBIT growth | 63.5% | -78.1% | -20.6% | 4663.0% | -99.0% | 70.9% | |
EBIT margin | 3.6% | 2.3% | 9.9% | 12.5% | 0.3% | 35.1% | 20.9% |
Non-recurring items [+] | -25.1 | -10.2 | | | | 6.5 | |
Asset impairment | -25.1 | -10.2 | | | | | |
Interest expense, net [+] | 59.1 | 61.7 | 47.3 | 59.3 | 56.4 | 48.8 | 48.3 |
Interest expense | 68.0 | 62.3 | 52.7 | 74.4 | 58.1 | 51.8 | 50.8 |
Interest income | 8.8 | 0.6 | 5.4 | 15.2 | 1.8 | 3.0 | 2.6 |
Other income (expense), net [+] | -75.1 | -34.0 | 56.3 | 24.7 | -34.3 | -49.7 | |
Gain (loss) on debt retirement | | -0.1 | -5.8 | -5.2 | -0.7 | | |
Pre-tax income | -86.2 | -71.5 | 72.8 | 45.9 | -89.0 | 63.1 | 50.0 |
Income taxes | 3.5 | -4.3 | -1.3 | -0.7 | -9.9 | 1.1 | 0.4 |
Tax rate | | 6.0% | | | 11.1% | 1.7% | 0.8% |
Net income | -89.7 | -67.3 | 74.1 | 46.6 | -79.1 | 62.0 | 49.6 |
Net margin | -14.1% | -11.2% | 11.4% | 7.2% | -14.6% | 13.0% | 10.5% |
|
Basic EPS [+] | ($0.69) | ($0.50) | $0.57 | $0.39 | ($0.75) | $0.62 | $0.49 |
Growth | 36.1% | -188.8% | 45.1% | -152.1% | -221.8% | 24.9% | |
Diluted EPS [+] | ($0.69) | ($0.50) | $0.57 | $0.39 | ($0.75) | $0.62 | $0.49 |
Growth | 36.1% | -188.8% | 45.1% | -152.1% | -221.8% | 24.9% | |
|
Dividends per share [+] | $0.90 | $0.90 | $0.90 | $1.00 | $0.45 | | |
Growth | 0.0% | 0.0% | -10.0% | 122.2% | | | |
|
Shares outstanding (basic) [+] | 130.8 | 133.5 | 130.7 | 119.2 | 105.4 | 100.6 | 100.6 |
Growth | -2.0% | 2.1% | 9.7% | 13.1% | 4.8% | 0.0% | |
Shares outstanding (diluted) [+] | 130.8 | 133.5 | 130.7 | 119.2 | 105.4 | 100.6 | 100.6 |
Growth | -2.0% | 2.1% | 9.7% | 13.1% | 4.8% | 0.0% | |
|
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |