Exhibit 99.3
SELECTED QUARTERLY FINANCIAL INFORMATION
(Unaudited)
Selected quarterly information for the years ended December 31, 2002 and 2001 is as follows (in thousands, except per share amounts):
|
| Quarter Ended |
| ||||||||||
2002 |
| December 31 |
| September 30 |
| June 30 |
| March 31 |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Revenues from Rental Operations |
| $ | 176,328 |
| $ | 181,185 |
| $ | 179,506 |
| $ | 174,472 |
|
Revenues from Service Operations |
| 11,641 |
| 11,824 |
| 15,604 |
| 29,511 |
| ||||
Net income available for common shares |
| 28,294 |
| 39,172 |
| 48,528 |
| 45,278 |
| ||||
Basic income per common share |
| $ | 0.21 |
| $ | 0.29 |
| $ | 0.36 |
| $ | 0.34 |
|
Diluted income per common share |
| $ | 0.21 |
| $ | 0.29 |
| $ | 0.36 |
| $ | 0.34 |
|
Weighted average common shares |
| 134,935 |
| 134,818 |
| 134,196 |
| 131,932 |
| ||||
Weighted average common and dilutive potential common shares |
| 150,692 |
| 151,256 |
| 151,092 |
| 150,270 |
| ||||
Funds From Operations (1) |
| $ | 84,520 |
| $ | 80,649 |
| $ | 88,754 |
| $ | 87,279 |
|
Cash flow provided by (used by): |
|
|
|
|
|
|
|
|
| ||||
Operating activities |
| $ | 91,778 |
| $ | 103,623 |
| $ | 165,793 |
| $ | 208,402 |
|
Investing activities |
| (129,840 | ) | (58,260 | ) | (104,517 | ) | (45,355 | ) | ||||
Financing activities |
| 12,439 |
| (4,831 | ) | (72,281 | ) | (159,020 | ) | ||||
2001 |
|
|
|
|
|
|
|
|
| ||||
|
|
|
|
|
|
|
|
|
| ||||
Revenues from Rental Operations |
| $ | 177,188 |
| $ | 176,003 |
| $ | 179,627 |
| $ | 181,921 |
|
Revenues from Service Operations |
| 12,835 |
| 21,676 |
| 23,627 |
| 22,321 |
| ||||
Net income available for common shares |
| 44,420 |
| 77,102 |
| 49,675 |
| 58,770 |
| ||||
Basic income per common share |
| $ | 0.34 |
| $ | 0.59 |
| $ | 0.39 |
| $ | 0.46 |
|
Diluted income per common share |
| $ | 0.34 |
| $ | 0.58 |
| $ | 0.38 |
| $ | 0.45 |
|
Weighted average common shares |
| 130,970 |
| 130,104 |
| 129,131 |
| 128,399 |
| ||||
Weighted average common and dilutive potential common shares |
| 149,842 |
| 158,594 |
| 149,572 |
| 151,031 |
| ||||
Funds From Operations (1) |
| $ | 84,520 |
| $ | 88,881 |
| $ | 88,754 |
| $ | 84,592 |
|
Cash flow provided by (used by): |
|
|
|
|
|
|
|
|
| ||||
Operating activities |
| $ | 66,084 |
| $ | 168,433 |
| $ | 22,158 |
| $ | 77,507 |
|
Investing activities |
| (27,948 | ) | 34,670 |
| 127,918 |
| (27,615 | ) | ||||
Financing activities |
| (38,157 | ) | (296,626 | ) | (85,940 | ) | (50,192 | ) | ||||
(1) Funds From Operations is defined by the National Association of Real Estate Investment Trusts as net income or loss, excluding gains or losses from sales of depreciated property, plus operating property depreciation and amortization and adjustments for minority interest and unconsolidated companies on the same basis. Funds From Operations does not represent cash flow from operations as defined by generally accepted accounting principles, should not be considered as an alternative to net income as an indicator of the Company’s operating performance, and is not indicative of cash available to fund all cash flow needs.