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 | Dec-31-14 |
| 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
Revenues: |
Property rentals | | | | | | 321.7 | 231.9 | 232.6 |
Tenant expense reimbursements | | | | | | | 84.6 | 81.9 |
Other | | | | | | 4.3 | 6.5 | 1.2 |
Total revenues [+] | 425.1 | 330.1 | 387.6 | 414.2 | 407.0 | 326.0 | 322.9 | 315.7 |
Tenant reimbursements | | | | | | | 84.6 | 81.9 |
Management fees | | | | | | | 2.3 | 0.5 |
Lease / rental | | | | | | 321.7 | 231.9 | 232.6 |
Other | | | | | | | 4.2 | 0.7 |
Revenue growth [+] | 28.8% | -14.8% | -6.4% | 1.7% | 24.9% | 0.9% | 2.3% | -13.0% |
Property rentals | | | | | | 38.8% | -0.3% | 1.9% |
Tenant expense reimbursements | | | | | | | 3.3% | 11.9% |
Cost of goods sold [+] | 132.4 | 116.2 | 124.2 | 445.8 | 124.9 | 106.8 | 134.0 | 120.7 |
Lease costs | | | | 11.4 | 10.8 | 10.0 | 10.1 | 10.3 |
Maintenance and operations costs | | | | 292.3 | | | | |
Real estate taxes and insurance | 63.8 | 60.0 | 60.2 | 63.7 | 59.7 | 51.4 | 49.3 | 49.8 |
Real estate or leased property costs | 68.5 | 56.1 | 64.1 | 78.4 | 54.3 | 45.3 | 50.6 | 52.0 |
Gross profit | 292.7 | 213.9 | 263.4 | -31.6 | 282.1 | 219.2 | 188.9 | 194.9 |
Gross margin | 68.9% | 64.8% | 68.0% | -7.6% | 69.3% | 67.3% | 58.5% | 61.8% |
Selling, general and administrative [+] | 39.2 | 48.7 | 38.2 | 35.0 | 30.7 | 28.8 | 32.0 | 17.8 |
General and administrative [+] | 39.2 | 48.7 | 38.2 | 35.0 | 30.7 | 28.8 | 32.0 | 17.8 |
General and administrative expenses | 39.2 | 48.7 | 38.2 | 35.0 | 30.7 | 28.8 | 32.0 | 17.8 |
Rent expense | | | | | | | | 10.3 |
Other selling, general and administrative | | | | | | | | |
Other operating expenses | -42.6 | -172.4 | -180.5 | -450.8 | 77.9 | -14.4 | 1.5 | 1.0 |
EBITDA [+] | 298.0 | 339.4 | 408.3 | 387.7 | 173.8 | 205.8 | 156.4 | 177.3 |
EBITDA growth | -12.2% | -16.9% | 5.3% | 123.1% | -15.6% | 31.6% | -11.8% | -26.6% |
EBITDA margin | 70.1% | 102.8% | 105.3% | 93.6% | 42.7% | 63.1% | 48.4% | 56.2% |
Depreciation | 85.5 | 87.6 | 87.8 | 87.8 | 73.2 | 55.2 | 56.8 | 53.3 |
EBITA | 212.4 | 251.8 | 320.4 | 299.9 | 100.6 | 150.6 | 99.6 | 124.0 |
EBITA margin | 50.0% | 76.3% | 82.7% | 72.4% | 24.7% | 46.2% | 30.8% | 39.3% |
Amortization of intangibles | 8.6 | 10.2 | 8.8 | 15.1 | 9.3 | 2.0 | 1.5 | 1.6 |
EBIT [+] | 203.8 | 241.6 | 311.6 | 284.8 | 91.3 | 148.6 | 98.1 | 122.4 |
EBIT growth | -15.6% | -22.5% | 9.4% | 211.9% | -38.6% | 51.6% | -19.9% | -34.2% |
EBIT margin | 48.0% | 73.2% | 80.4% | 68.8% | 22.4% | 45.6% | 30.4% | 38.8% |
Non-recurring items [+] | 37.3 | 79.6 | 137.3 | 105.3 | | 15.6 | | |
Loss (gain) on sale of assets | 18.6 | 39.8 | 68.6 | 52.6 | | | | |
Loss (gain) on disposal of assets | 18.6 | 39.8 | 68.6 | 52.6 | | 15.6 | | |
Interest expense, net [+] | 57.6 | 68.4 | 56.9 | 56.5 | 54.0 | 51.2 | 55.4 | 54.9 |
Interest expense | 57.9 | 71.0 | 66.6 | 64.9 | 56.2 | 51.9 | 55.6 | 55.0 |
Interest income | 0.4 | 2.6 | 9.8 | 8.3 | 2.2 | 0.7 | 0.2 | 0.0 |
Other income (expense), net [+] | | -34.9 | | -2.5 | 35.3 | 15.6 | | |
Gain (loss) on sale of assets | | | | | 0.2 | | | |
Gain (loss) on debt retirement | | 34.9 | | 2.5 | -35.3 | | | |
Pre-tax income | 109.0 | 58.8 | 117.5 | 120.5 | 72.7 | 97.4 | 42.6 | 67.5 |
Income taxes | 1.1 | -39.0 | 1.3 | 3.5 | -0.3 | 0.8 | 1.3 | 1.7 |
Tax rate | 1.0% | | 1.1% | 2.9% | | 0.8% | 3.0% | 2.5% |
Minority interest | -4.3 | -4.2 | -6.7 | -11.8 | -5.8 | -5.8 | -2.5 | |
Net income | 112.1 | 101.9 | 122.9 | 128.7 | 78.8 | 102.4 | 43.9 | 65.8 |
Net margin | 26.4% | 30.9% | 31.7% | 31.1% | 19.3% | 31.4% | 13.6% | 20.8% |
|
Basic EPS [+] | $0.96 | $0.87 | $1.03 | $1.13 | $0.74 | $1.03 | $0.44 | $0.66 |
Growth | 10.7% | -15.6% | -9.2% | 53.8% | -28.7% | 133.1% | -33.3% | -39.8% |
Diluted EPS [+] | $0.92 | $0.86 | $1.03 | $1.13 | $0.67 | $1.03 | $0.44 | $0.66 |
Growth | 6.8% | -15.7% | -9.2% | 69.7% | -35.2% | 132.2% | -33.3% | -39.8% |
|
Dividends per share [+] | $0.60 | $0.68 | $0.88 | $0.88 | $0.88 | $0.82 | $0.80 | |
Growth | -11.8% | -22.7% | 0.0% | 0.0% | 7.3% | 2.5% | | |
|
Shares outstanding (basic) [+] | 117.0 | 117.7 | 119.8 | 113.9 | 107.1 | 99.4 | 99.3 | 99.2 |
Growth | -0.6% | -1.7% | 5.2% | 6.3% | 7.8% | 0.1% | 0.0% | 0.0% |
Shares outstanding (diluted) [+] | 121.4 | 117.9 | 119.9 | 114.1 | 118.4 | 99.8 | 99.3 | 99.2 |
Growth | 3.0% | -1.7% | 5.1% | -3.7% | 18.6% | 0.5% | 0.0% | 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. |