 |
|
|
|
For the 12 months ended December 31 |
| Reconciliation of Funds from Operations (unaudited) |
| 2005 |
| 2004 |
| 2003 |
 |
| $ in thousands, except share and per share amounts |
| |
| |
| |
| Net Income available to common stockholders |
$ | 201,012 |
$ | 96,489 |
$ | 198,527 |
Add/(deduct):
Gain on disposition of real estate, net |
| (145) |
| (7,358) |
| (11,351) |
|
Gain on disposition of discontinued real estate, net |
| (133,075) |
| (125,508) |
| (58,834) |
|
Gain on disposition of real estate from unconsolidated real estate joint ventures |
| — |
| (704) |
| (230) |
|
Depreciation and amortization (real estate-related) including share of unconsolidated real estate joint ventures and discontinued operations |
| 194,024 |
| 178,847 |
| 202,490 |
|
Cumulative effect of a change in accounting principle, net of minority interest |
| 4,871 |
| — |
| 3,845 |
|
|
|
Funds from operations available to common stockholders |
$ | 266,687 |
$ | 141,766 |
$ | 334,447 |
|
 |
|
For the 12 months ended December 31 |
| Reconciliation of Funds from Operations per Share, Basic (unaudited) |
| 2005 |
| 2004 |
| 2003 |
|
|
| $ in thousands, except share and per share amounts |
| |
| |
| |
| Net Income available to common stockholders |
$ | 1.30 |
$ | 0.64 |
$ | 1.32 |
Add/(deduct):
Gain on disposition of real estate, net |
| — |
| (0.05) |
| (0.08) |
|
Gain on disposition of discontinued real estate, net |
| (0.86) |
| (0.83) |
| (0.39) |
|
Gain on disposition of real estate from unconsolidated real estate joint ventures |
| — |
| — |
| — |
|
Depreciation and amortization (real estate-related) including share of unconsolidated real estate joint ventures and discontinued operations |
| 1.25 |
| 1.18 |
| 1.35 |
|
Cumulative effect of a change in accounting principle, net of minority interest |
| 0.03 |
| — |
| 0.03 |
|
|
|
Funds from operations available to common stockholders per weighted average common share outstanding-basic (a) |
$ | 1.72 |
$ | 0.94 |
$ | 2.23 |
|
|
|
Weighted average shares outstanding—basic |
154,847,663 |
151,596,514 |
150,005,663 |
|
|
|
(a) Funds from operations available to common stockholders per weighted average common share outstanding-basic may not total the sum of the per share components in the reconciliation due to rounding. |
|
For the 12 months ended December 31 |
| Reconciliation of Funds from Operations per Share, Diluted (unaudited) |
| 2005 |
| 2004 |
| 2003 |
|
|
| $ in thousands, except share and per share amounts |
| |
| |
| |
| Net Income available to common stockholders |
$ | 1.27 |
$ | 0.63 |
$ | 1.32 |
Add/(deduct):
Gain on disposition of real estate, net |
| — |
| (0.05) |
| (0.08) |
|
Gain on disposition of discontinued real estate, net |
| (0.84) |
| (0.82) |
| (0.39) |
|
Gain on disposition of real estate from unconsolidated real estate joint ventures |
| — |
| — |
| — |
|
Depreciation and amortization (real estate-related) including share of unconsolidated real estate joint ventures and discontinued operations |
| 1.23 |
| 1.17 |
| 1.35 |
|
Cumulative effect of a change in accounting principle, net of minority interest |
| 0.03 |
| — |
| 0.03 |
|
|
|
Funds from operations available to common stockholders per weighted average common share outstanding-diluted (a) |
$ | 1.69 |
$ | 0.93 |
$ | 2.22 |
|
|
|
Weighted average shares outstanding—diluted |
157,877,915 |
153,109,854 |
150,453,281 |
|
|
|
(a) Funds from operations available to common stockholders per weighted average common share outstanding-diluted may not total the sum of the per share components in the reconciliation due to rounding. |
|
|
