RETAIL PROPERTIES OF AMERICA, INC. (RPAI) [Rocket]

In millions, except per share items	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14	Dec-31-13
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Rental income					455.7	472.3	474.7	433.6
Tenant recovery income						119.5	115.7	102.0
Other					127.5	12.1	10.2	16.0
Total revenues [+]	0.0	0.0	0.0	0.0	583.1	604.0	600.6	551.5
Tenant reimbursements						119.5	115.7	102.0
Lease / rental					455.7	472.3	474.7	433.6
Other real estate						12.1	10.2	16.0
Revenue growth [+]				-100.0%	-3.4%	0.6%	8.9%	3.8%
Rental income					-3.5%	-0.5%	9.5%	2.7%
Tenant recovery income						3.3%	13.5%	1.4%
Cost of goods sold [+]	136.9	141.6	148.6	167.3	167.7	177.6	175.6	160.3
Maintenance and operations costs	64.0	68.4	74.9	84.6	85.9
Real estate taxes and insurance	72.9	73.2	73.7	82.8	81.8	82.8	78.8	71.2
Real estate or leased property costs						94.8	96.8	89.1
Gross profit	-136.9	-141.6	-148.6	-167.3	415.5	426.4	425.0	391.3
Gross margin					71.2%	70.6%	70.8%	70.9%
Selling, general and administrative [+]	38.7	40.5	42.4	40.7	44.5	50.7	34.2	31.5
General and administrative	38.7	40.5	42.4	40.7	44.5	50.7	34.2	31.5
Equity in earnings							-2.1	-1.2
Other operating expenses	-437.5	-500.6	-519.7	-876.1	-164.0			59.5
EBITDA [+]	261.9	318.4	328.8	668.1	534.9	375.7	388.7	310.1
EBITDA growth	-17.8%	-3.1%	-50.8%	24.9%	42.4%	-3.3%	25.4%	-14.9%
EBITDA margin					91.7%	62.2%	64.7%	56.2%
Depreciation and amortization	166.0	194.6	176.0	203.9	224.4	214.7	216.0	233.8
EBIT [+]	95.9	123.9	152.8	464.2	310.5	161.0	172.8	76.3
EBIT growth	-22.6%	-18.9%	-67.1%	49.5%	92.9%	-6.8%	126.5%	-40.5%
EBIT margin					53.2%	26.7%	28.8%	13.8%
Non-recurring items [+]	2.6	12.3	2.1	67.0	20.4	19.9	72.2
Asset impairment	2.6	12.3	2.1	67.0	20.4	19.9	72.2
Interest expense	78.5	76.6	73.7	146.1	109.7	138.9	133.8	146.8
Interest expense	78.5	76.6	73.7	146.1	109.7	138.9	133.8	146.8
Other income (expense), net [+]	-0.2	-2.6	0.7	0.4	-13.6	1.7	33.9	27.9
Gain (loss) on sale of assets	1.4	18.9	37.2					17.5
Gain (loss) on debt retirement					13.7
Extraordinary gain							24.2	5.4
Other	-0.2	-2.6	0.7	0.4	0.1	1.7	5.5	4.7
Pre-tax income	14.6	32.4	77.6	251.5	166.8	3.8	0.6	-42.7
Income taxes	0.0	0.0	0.0	0.0	0.0	-121.3	-42.7	0.2
Tax rate	0.0%	0.0%	0.0%	0.0%	0.0%
Minority interest						0.5
Earnings from continuing ops	14.6	32.4	77.6	237.6	157.4	115.6	32.7	-46.5
Earnings from discontinued ops							1.2	50.7
Net income	14.6	32.4	77.6	237.6	157.4	115.6	33.9	4.2
Net margin					27.0%	19.1%	5.6%	0.8%

Basic EPS [+]	$0.07	$0.15	$0.36	$1.03	$0.66	$0.49	$0.14	($0.20)
Growth	-55.1%	-57.3%	-65.4%	54.9%	35.9%	253.5%	-169.7%	18.6%
Diluted EPS [+]	$0.07	$0.15	$0.36	$1.03	$0.66	$0.49	$0.14	($0.20)
Growth	-55.1%	-57.3%	-65.4%	54.9%	35.7%	253.5%	-169.7%	18.6%

Dividends per share [+]	$0.38	$0.66	$0.67	$0.71	$0.70	$0.70	$0.70	$0.70
Growth	-42.5%	-0.4%	-5.9%	0.7%	0.0%	0.1%	0.2%	20.6%

Shares outstanding (basic) [+]	213.3	212.9	217.8	230.7	236.7	236.4	236.2	234.1
Growth	0.2%	-2.2%	-5.6%	-2.5%	0.1%	0.1%	0.9%	6.2%
Shares outstanding (diluted) [+]	213.3	213.2	218.2	230.9	237.0	236.4	236.2	234.1
Growth	0.1%	-2.3%	-5.5%	-2.5%	0.2%	0.1%	0.9%	6.2%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.