POST PROPERTIES INC (PPS) [Rocket]

In millions, except per share items	Dec-31-15	Dec-31-14	Dec-31-13	Dec-31-12	Dec-31-11	Dec-31-10	Dec-31-09	Dec-31-08
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Fully Stabilized Communities	338.1	329.0	315.5	284.5	278.2	263.4	248.7	146.3
Other Property Segments, Including Corporate Management Expenses	22.2	20.6	20.7	20.9	21.9	20.7
Newly Stabilized Communities	17.2	11.3	2.6
Lease Up Communities	5.3	1.7
Other	1.2	15.2	23.9	24.9	0.9	1.0	27.6	135.6
Total revenues [+]	384.0	377.8	362.7	330.3	301.0	285.1	276.3	281.9
Lease / rental	360.6	355.6	341.9	311.0	282.6	268.1	260.0	266.2
Other income	1.2	1.0	0.9	0.9	0.9	1.0	1.1	1.0
Revenue growth [+]	1.6%	4.2%	9.8%	9.7%	5.6%	3.2%	-2.0%	1.7%
Fully Stabilized Communities	2.8%	4.3%	10.9%	2.3%	5.6%	5.9%	70.0%	7.0%
Other Property Segments, Including Corporate Management Expenses	7.7%	-0.6%	-0.8%	-4.6%	5.6%
Newly Stabilized Communities	52.6%	335.5%
Lease Up Communities	202.8%
Held For Sale And Sold Communities		-38.5%
Cost of goods sold [+]	252.8	247.7	240.9	221.1	204.6	131.4	131.7	135.3
Maintenance and operations costs	165.4	163.0	155.3	141.8	130.1
Depreciation	87.5	84.8	85.6	79.4	74.5
Gross profit	131.2	130.1	121.9	109.2	96.4	153.8	144.7	146.7
Gross margin	34.2%	34.4%	33.6%	33.1%	32.0%	53.9%	52.4%	52.0%
Selling, general and administrative [+]	18.6	17.9	17.2	16.3	16.1	16.4	16.3	16.8
General and administrative	18.6	17.9	17.2	16.3	16.1	16.4	16.3	16.8
Equity in earnings	2.2	1.8	2.1	8.0	1.0	18.7	-74.4	1.2
Other operating expenses	1.1	3.1	3.1	2.7	2.6	79.3	80.7	78.2
EBITDA [+]	201.2	195.6	189.8				47.7	118.5
EBITDA growth	2.8%	3.1%	93.4%	24.7%	2.6%	60.8%	-59.8%	-48.7%
EBITDA margin	52.4%	51.8%	52.3%	29.7%	26.1%	26.9%	17.3%	42.0%
Depreciation and amortization	87.5	84.8	86.1				74.4	65.6
EBIT [+]	113.7	110.9	103.6	98.1	78.7	76.7	-26.7	52.9
EBIT growth	2.6%	7.0%	5.6%	24.7%	2.6%	-386.9%	-150.6%	-67.7%
EBIT margin	29.6%	29.3%	28.6%	29.7%	26.1%	26.9%	-9.7%	18.8%
Non-recurring items [+]		2.3	2.4			35.1	13.5	98.9
Asset impairment		2.3	2.4			35.1	13.5	98.9
Interest expense, net [+]	31.4	40.2	44.6	45.6	55.4	53.8	52.1	48.2
Interest expense	31.6	40.3	44.7	46.0	56.4	54.6	52.4	48.9
Interest income	0.2	0.1	0.1	0.4	1.0	0.8	0.2	0.7
Other income (expense), net [+]	-1.3	169.0	24.5	30.3	0.9	5.6	-3.1	-2.0
Gain (loss) on debt retirement	-0.2	-18.4		-4.3	-6.9	2.8	-3.3
Other	-1.0	0.0	-0.8	0.6	1.7	1.1	-0.4	-1.2
Pre-tax income	81.0	237.4	81.1	82.8	24.2	-6.5	-95.5	-96.1
Income taxes	0.2	-0.8	0.0	-1.2	-0.5	0.5	0.2	-87.5
Tax rate	0.2%		0.0%					91.0%
Minority interest				-0.1	-0.1	0.0	8.2	-0.4
Earnings from continuing ops	76.9	211.4	77.0	78.7	18.4	-14.5	-95.1	-104.1
Earnings from discontinued ops			29.8	1.5	0.9		84.2	87.8
Net income	76.9	211.4	106.8	80.3	19.3	-14.5	-10.9	-16.3
Net margin	20.0%	56.0%	29.5%	24.3%	6.4%	-5.1%	-3.9%	-5.8%

Basic EPS [+]	$1.42	$3.90	$1.42	$1.46	$0.36	($0.30)	($2.10)	($2.36)
Growth	-63.6%	174.8%	-3.1%	301.4%	-221.8%	-85.8%	-11.0%	-42.4%
Diluted EPS [+]	$1.42	$3.89	$1.41	$1.45	$0.36	($0.30)	($2.10)	($2.36)
Growth	-63.6%	175.2%	-2.8%	302.2%	-220.9%	-85.8%	-11.0%	-41.7%

Dividends per share [+]	$1.68	$1.49	$1.16	$0.94	$0.82	$0.80	$0.80	$1.80
Growth	12.9%	28.4%	23.7%	15.0%	1.9%	-0.1%	-55.4%	-0.2%

Shares outstanding (basic) [+]	54.3	54.3	54.3	53.8	50.4	48.5	45.2	44.0
Growth	0.1%	-0.1%	1.0%	6.7%	4.0%	7.3%	2.7%	1.2%
Shares outstanding (diluted) [+]	54.3	54.4	54.5	54.1	50.8	48.5	45.2	44.0
Growth	-0.1%	-0.3%	0.7%	6.5%	4.8%	7.3%	2.7%	-0.1%

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