INDEPENDENCE REALTY TRUST, INC. (IRT) [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:
Tenant reimbursement income								4.4
Rental income							137.4	98.2
Other							16.0	7.0
Total revenues [+]	628.5	250.3	211.9	203.2	191.2	161.2	153.4	109.6
Tenant reimbursements								4.4
Lease / rental							137.4	98.2
Other real estate								7.0
Other income	1.1	0.8	0.7	0.6	0.5	0.7
Revenue growth [+]	151.2%	18.1%	4.3%	6.3%	18.6%	5.1%	40.0%	122.8%
Tenant reimbursement income								128.7%
Rental income							39.9%	119.1%
Cost of goods sold [+]	256.3	102.8	91.5	87.3	83.3	70.7	68.0	46.3
Maintenance and operations costs	24.0	9.5	8.5	7.7	7.0
Real estate or leased property costs	232.3	93.3	83.0	79.6	76.4	64.7	63.1
Gross profit	372.2	147.5	120.4	115.9	107.9	90.5	85.4	63.3
Gross margin	59.2%	58.9%	56.8%	57.0%	56.4%	56.1%	55.7%	57.8%
Selling, general and administrative [+]	26.3	18.6	15.1	12.7	10.8	9.5	10.9	7.8
General and administrative	26.3	18.6	15.1	12.7	10.8	9.5	10.9	7.8
Equity in earnings	-2.2
Other operating expenses	143.2	104.2	54.0	17.6	34.6	20.1	34.8	31.8
EBITDA [+]	453.4	101.5	112.1	138.4	107.7	95.0	74.5	51.8
EBITDA growth	346.6%	-9.4%	-19.0%	28.5%	13.3%	27.5%	43.8%	126.3%
EBITDA margin	72.1%	40.6%	52.9%	68.1%	56.3%	58.9%	48.6%	47.3%
Depreciation	198.8	71.8	60.1	51.2	41.8	32.7	31.1	20.9
EBITA	254.6	29.7	52.0	87.2	65.9	62.4	43.4	30.9
EBITA margin	40.5%	11.9%	24.5%	42.9%	34.5%	38.7%	28.3%	28.2%
Amortization of intangibles	54.0	5.1	0.6	1.6	3.4	1.5	3.7	7.2
EBIT [+]	200.6	24.6	51.4	85.6	62.5	60.8	39.7	23.7
EBIT growth	715.0%	-52.1%	-40.0%	37.0%	2.7%	53.2%	67.3%	128.6%
EBIT margin	31.9%	9.8%	24.2%	42.1%	32.7%	37.7%	25.9%	21.7%
Non-recurring items [+]	-5.5	-47.1				1.3	0.0	13.6
Restructuring charges	-5.5	-47.1				1.3	0.0	13.6
Interest expense	87.0	36.4	36.5	39.2	36.0	28.7	35.5	23.6
Interest expense	87.0	36.4	36.5	39.2	36.0	28.7	35.5	23.6
Other income (expense), net [+]	1.6	10.3			0.1	0.7	-13.7	43.5
Gain (loss) on sale of assets						18.8	31.8	6.4
Gain (loss) on debt retirement		-10.3				-0.6	-1.2
Gain (loss) on acquisitions / transactions							0.7	64.6
Other	1.6				0.1	0.1	0.0	0.0
Pre-tax income	120.7	45.5	14.9	46.4	26.6	31.4	-9.6	30.2
Income taxes	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Tax rate	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Minority interest	3.4	0.9	0.1	0.5	0.3	1.2	-0.2	-1.9
Net income	117.2	44.6	14.8	45.9	26.3	30.2	-9.8	28.2
Net margin	18.7%	17.8%	7.0%	22.6%	13.7%	18.7%	-6.4%	25.8%

Basic EPS [+]	$0.53	$0.41	$0.16	$0.51	$0.30	$0.41	($0.19)	$0.78
Growth	28.6%	160.5%	-69.1%	69.3%	-26.7%	-319.3%	-124.0%	466.4%
Diluted EPS [+]	$0.53	$0.41	$0.16	$0.51	$0.30	$0.41	($0.19)	$0.78
Growth	29.4%	160.3%	-69.3%	68.7%	-26.7%	-318.5%	-124.0%	472.0%

Dividends per share [+]	$0.54	$0.48	$0.54	$0.72	$0.72	$0.72	$0.70	$0.69
Growth	12.5%	-11.1%	-25.0%	0.0%	0.0%	2.7%	0.9%	-1.2%

Shares outstanding (basic) [+]	222.0	108.6	93.7	89.8	87.1	73.3	52.2	36.2
Growth	104.5%	15.9%	4.3%	3.1%	18.7%	40.5%	44.3%	69.6%
Shares outstanding (diluted) [+]	223.1	109.8	94.7	90.4	87.4	73.6	52.2	36.2
Growth	103.1%	16.0%	4.7%	3.5%	18.7%	41.0%	44.3%	67.9%

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