Attached files
| file | filename |
|---|---|
| EX-99.1 - EXHIBIT 99.1 - KIMCO REALTY CORP | ex_183303.htm |
| 8-K - FORM 8-K - KIMCO REALTY CORP | kim20200428_8k.htm |
Exhibit 99.2
|
Reconciliation of Non-GAAP Financial Measures |
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|
Net Income to EBITDA & Net Debt/EBITDA Calculations |
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|
Three Months Ended December 31, 2019 |
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|
(Dollars shown in thousands) |
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|
(unaudited) |
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Net income |
$ | 110,043 | ||
|
Interest |
45,757 | |||
|
Other interest |
- | |||
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Depreciation and amortization |
68,439 | |||
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Gain on sale of properties/change in control of interests |
(31,836 | ) | ||
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Gain on sale of JV properties |
(892 | ) | ||
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Impairment charges |
7,508 | |||
|
Impairment of JV properties |
3,995 | |||
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Provision/(benefit) for income taxes |
263 | |||
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Consolidated EBITDA |
203,277 | |||
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Transactional income, net |
(1,957 | ) | ||
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Consolidated EBITDA as adjusted |
$ | 201,320 | ||
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Consolidated EBITDA |
$ | 203,277 | ||
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Prorata share of interest expense - real estate JV's |
6,463 | |||
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Prorata share of depreciation and amortization - real estate JV's |
10,910 | |||
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EBITDA including prorata share - JV's |
220,650 | |||
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Transactional income, net |
(1,957 | ) | ||
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EBITDA as adjusted including prorata share - JV's |
$ | 218,693 | ||
|
Debt |
$ | 5,315,767 | ||
|
Cash |
123,947 | |||
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Net Debt |
$ | 5,191,820 | ||
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Net Debt / EBITDA Calculation Prorata (Including Preferreds) |
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|
Net Debt (Prorata Share with JV) |
$ | 5,779,926 | ||
|
Preferred Stock |
489,500 | |||
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Debt |
$ | 6,269,426 | ||
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Prorata EBITDA |
$ | 209,740 | ||
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JV Depreciation |
10,910 | |||
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EBITDA Adjustments |
(1,957 | ) | ||
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EBITDA |
$ | 218,693 | ||
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Net Debt and Preferred to Prorata EBITDA as adjusted (including preferreds) |
7.2x |
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