HOME PROPERTIES INC (HME) [Rocket]

In millions, except per share items	Dec-31-14	Dec-31-13	Dec-31-12	Dec-31-11	Dec-31-10	Dec-31-09	Dec-31-08	Dec-31-07
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Core properties	642.7	624.3	603.4	544.4	498.7	498.4	489.2	469.9
Non-core properties	28.9	14.4
Reconciling items	0.4	1.2	0.3	0.2			0.6	3.1
Other						0.8
Total revenues [+]	671.9	639.8	603.7	544.6	498.8	499.2	489.8	473.0
Lease / rental	616.2	587.1	554.5	500.3	457.8	457.7
Net interest income							0.2	2.0
Other							0.4	1.1
Other income	55.4	51.6	48.9	44.1
Revenue growth [+]	5.0%	6.0%	10.9%	9.2%	-0.1%	1.9%	3.6%	11.5%
Core properties	2.9%	3.5%	10.8%	9.2%	0.1%	1.9%	4.1%	12.2%
Non-core properties	101.2%
Reconciling items	-69.1%	279.1%	101.9%				-81.7%	-41.0%
Cost of goods sold	249.5	230.1	220.9	211.3	203.4	207.3	203.6	313.7
Gross profit	422.4	409.7	382.9	333.3	295.4	291.9	286.2	159.3
Gross margin	62.9%	64.0%	63.4%	61.2%	59.2%	58.5%	58.4%	33.7%
Selling, general and administrative [+]	26.7	28.5	34.2	29.1	25.1	24.5	25.5	23.4
General and administrative	26.7	28.5	34.2	29.1	25.1	24.5	25.5	23.4
Other operating expenses	-213.2	-195.9	-189.7	-165.6	-147.9		118.3
EBITDA [+]	614.0	587.6	555.4	481.9	427.6	272.0	147.8	145.6
EBITDA growth	4.5%	5.8%	15.3%	12.7%	57.2%	84.0%	1.5%	8.4%
EBITDA margin	91.4%	91.8%	92.0%	88.5%	85.7%	54.5%	30.2%	30.8%
Depreciation and amortization	186.2	177.9	172.6	148.6	132.2	123.1	115.6	113.4
EBIT [+]	427.8	409.7	382.9	333.3	295.4	148.8	32.3	32.2
EBIT growth	4.4%	7.0%	14.9%	12.8%	98.5%	361.5%	0.0%	4.0%
EBIT margin	63.7%	64.0%	63.4%	61.2%	59.2%	29.8%	6.6%	6.8%
Non-recurring items [+]	5.4
Asset impairment	5.4
Interest expense	99.6	110.1	119.9	125.3	120.7	121.8	118.3	117.6
Interest expense	99.6	110.1	119.9	125.3	120.7	121.8	118.3	117.6
Other income (expense), net [+]	-213.9	-196.2	-192.4	-168.9	-150.8		129.6	167.8
Gain (loss) on debt retirement							11.3
Pre-tax income	108.8	103.4	70.5	39.2	23.9	27.1	43.6	82.5
Income taxes	0.0	0.0	0.0	-0.5	3.3	-37.0	-57.7	0.0
Tax rate	0.0%	0.0%	0.0%		13.8%			0.0%
Minority interest	-28.5	-30.7	-28.3	-9.8	-6.2	-12.7	-27.1	-22.7
Earnings from continuing ops	-1.5	72.7	42.2	29.3	17.7	-9.9	-35.1	6.3
Earnings from discontinued ops	162.5	88.1	93.1	8.5	2.4	44.3	101.2	50.3
Net income	160.9	160.9	135.3	37.9	20.1	34.4	66.1	56.6
Net margin	24.0%	25.1%	22.4%	7.0%	4.0%	6.9%	13.5%	12.0%

Basic EPS [+]	($0.03)	$1.34	$0.85	$0.70	$0.48	($0.30)	($1.10)	$0.19
Growth	-102.0%	57.7%	21.1%	45.3%	-261.0%	-72.7%	-673.8%	-65.3%
Diluted EPS [+]	($0.03)	$1.33	$0.84	$0.69	$0.48	($0.30)	($1.09)	$0.19
Growth	-102.0%	58.3%	21.5%	44.9%	-259.5%	-72.5%	-679.2%	-65.3%

Dividends per share [+]	$3.44	$3.34	$3.20	$3.13	$3.06	$2.68	$2.65	$2,610.00
Growth	2.8%	4.4%	2.5%	2.2%	14.2%	1.1%	-99.9%	1.6%

Shares outstanding (basic) [+]	57.3	54.3	49.7	41.9	36.7	33.0	32.0	33.1
Growth	5.5%	9.2%	18.8%	14.1%	11.0%	3.3%	-3.4%	1.3%
Shares outstanding (diluted) [+]	57.8	54.8	50.4	42.5	37.2	33.2	32.3	33.8
Growth	5.5%	8.8%	18.4%	14.5%	12.1%	2.6%	-4.3%	1.4%

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