Jones Lang LaSalle Income Property Trust, Inc. | ||||||||
FFO Calculation | ||||||||
September 30, 2015 | ||||||||
($ in thousands, except share and per share amounts) | ||||||||
RECONCILIATION OF GAAP NET INCOME TO FUNDS FROM OPERATIONS | Three months ended September 30, 2015 | Nine months ended September 30, 2015 | ||||||
Net (loss) income attributable to JLLIPT | $ | (3,289 | ) | $ | 19,871 | |||
Adjustments: | ||||||||
Depreciation of real estate assets | 9,585 | 23,509 | ||||||
Gain on disposal of real estate assets | — | (23,754 | ) | |||||
Funds From Operations (FFO) | $ | 6,296 | $ | 19,626 | ||||
Weighted Average Shares Outstanding | 63,528,103 | 55,849,531 | ||||||
FFO per Share | $ | 0.10 | $ | 0.35 | ||||
FFO to Gross Dividends Coverage Ratio | 73 | % | 90 | % | ||||
ADJUSTED FUNDS FROM OPERATIONS | ||||||||
Funds From Operations (FFO) | $ | 6,296 | $ | 19,626 | ||||
Adjustments: | ||||||||
Straight-line rental income | (104 | ) | (663 | ) | ||||
Amortization of above- and below-market leases | (590 | ) | (1,216 | ) | ||||
Amortization of net discount on assumed debt | (81 | ) | (240 | ) | ||||
Loss on derivative instruments and extinguishment of debt | 99 | 1,286 | ||||||
Performance fee | 895 | 895 | ||||||
Acquisition expense | 482 | 1,120 | ||||||
Adjusted Funds From Operations (AFFO) | $ | 6,997 | $ | 20,808 | ||||
AFFO per Share | $ | 0.11 | $ | 0.37 | ||||
AFFO to Gross Dividends Coverage Ratio | 81 | % | 96 | % |