COUSINS PROPERTIES INC (CUZ) [Rocket]

In millions, except per share items	Dec-31-22	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	10-K
Revenues:
Office	757.7	758.4	742.7	676.6	507.2	500.6	417.9	400.3
Mixed-Use					3.7	6.2	13.0	10.0
Other	4.6
Total revenues [+]	762.3	755.1	740.3	657.5	475.2	466.2	259.2	204.4
Reimbursements	2.0	2.5	1.6	4.0	3.8	3.5	3.3	3.4
Other								0.8
Revenue growth [+]	1.0%	2.0%	12.6%	38.4%	1.9%	79.8%	26.8%	15.1%
Office	-0.1%	2.1%	9.8%	33.4%	1.3%	19.8%	4.4%
Mixed-Use					-40.3%	-52.2%	30.8%
Other								-79.8%
Cost of goods sold	258.4	259.5	250.9	222.1	164.7	163.9	96.9	82.5
Gross profit	503.9	495.6	489.5	435.4	310.5	302.3	162.3	121.8
Gross margin	66.1%	65.6%	66.1%	66.2%	65.3%	64.8%	62.6%	59.6%
Selling, general and administrative [+]	28.3	29.3	27.0	37.0	22.0	27.5	25.6	16.9
General and administrative	28.3	29.3	27.0	37.0	22.0	27.5	25.6	16.9
Equity in earnings	7.7	6.8	7.9	12.7	12.2	47.1	10.6	8.3
Other operating expenses	-54.6	-163.2	-134.3	-106.8	-1.7	-134.0	24.2	11.7
EBITDA [+]	537.9	636.2	604.7	517.8	302.4	455.9	123.1	101.5
EBITDA growth	-15.5%	5.2%	16.8%	71.2%	-33.7%	270.4%	21.3%	1262.8%
EBITDA margin	70.6%	84.3%	81.7%	78.7%	63.6%	97.8%	47.5%	49.7%
Depreciation and amortization	295.6	288.1	288.6	257.1	181.4	196.7	97.9	71.6
EBIT [+]	242.3	348.2	316.1	260.6	121.0	259.2	25.1	29.9
EBIT growth	-30.4%	10.2%	21.3%	115.4%	-53.3%	930.9%	-15.8%	300.9%
EBIT margin	31.8%	46.1%	42.7%	39.6%	25.5%	55.6%	9.7%	14.6%
Non-recurring items [+]			15.3	52.9	0.2	1.7	24.5	0.3
Asset impairment			14.8
Interest expense	72.5	67.0	60.6	54.0	39.4	33.5	26.7	22.7
Interest expense	72.5	67.0	60.6	54.0	39.4	33.5	26.7	22.7
Other income (expense), net [+]	-2.3	-2.1	-2.1	-1.1	-0.6	-4.1	-0.7	-1.2
Gain (loss) on debt retirement	0.2				0.0	2.3	-5.2
Other non-ooperating expenses	2.1	2.1	2.1	1.1	0.6	1.8	5.9	1.2
Other	-2.1	-2.1	-2.1	-1.1	-0.6	-1.8	-5.9	-1.2
Pre-tax income	167.4	279.0	238.1	152.7	80.8	220.0	-26.7	5.6
Income taxes	0.7	0.4	0.8	0.0	0.0	0.0	-45.9	-25.7
Tax rate	0.4%	0.1%	0.4%	0.0%	0.0%	0.0%	171.7%
Minority interest	0.7	0.4	0.8	-2.3	-1.6	-3.7	-1.0	-0.1
Earnings from continuing ops	166.8	278.6	237.3	150.4	79.2	216.3	59.9	94.2
Earnings from discontinued ops							19.2	31.3
Net income	166.8	278.6	237.3	150.4	79.2	216.3	79.1	125.5
Net margin	21.9%	36.9%	32.0%	22.9%	16.7%	46.4%	30.5%	61.4%

Basic EPS [+]	$1.11	$1.87	$1.60	$1.17	$0.75	$2.08	$0.24	$0.44
Growth	-40.7%	17.1%	36.2%	55.9%	-63.8%	781.6%	-45.9%	1551.9%
Diluted EPS [+]	$1.11	$1.87	$1.60	$1.16	$0.74	$2.04	$0.23	$0.44
Growth	-40.7%	17.2%	37.8%	56.4%	-63.8%	772.9%	-46.3%	1552.7%

Dividends per share [+]	$1.28	$1.24	$1.20	$1.16	$1.04	$1.20	$0.24	$0.32
Growth	3.2%	3.3%	3.4%	11.5%	-13.3%	400.0%	-25.0%	6.7%

Shares outstanding (basic) [+]	150.1	148.7	148.3	128.1	105.1	103.9	253.9	215.8
Growth	1.0%	0.3%	15.8%	21.9%	1.1%	-59.1%	17.6%	5.7%
Shares outstanding (diluted) [+]	150.4	148.9	148.6	129.8	106.9	105.8	256.0	216.0
Growth	1.0%	0.2%	14.5%	21.5%	1.0%	-58.7%	18.5%	5.6%

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