Item 6. Selected Financial Data
The following sets forth our selected consolidated financial data as of and for each of the years in the five-year period ended December 31, 2011. The selected consolidated financial data should be read in conjunction with the Consolidated Financial Statements and the related notes appearing elsewhere in this Annual Report. ($000's, except per share data)
|
| | | | | | | | | | | | | | | | | | | |
| | 2011 | | 2010 | | 2009 | | 2008 | | 2007 |
| Total gross revenues | $ | 318,224 |
| | $ | 309,382 |
| | $ | 322,509 |
| | $ | 337,223 |
| | $ | 344,228 |
|
| Expenses applicable to revenues | (216,661 | ) | | (210,404 | ) | | (212,037 | ) | | (249,494 | ) | | (217,982 | ) |
| Interest and amortization expense | (107,470 | ) | | (117,598 | ) | | (121,160 | ) | | (140,434 | ) | | (147,386 | ) |
| Income (loss) from continuing operations | (23,160 | ) | | (6,838 | ) | | (131,528 | ) | | (15,860 | ) | | 11,138 |
|
| Total discontinued operations | (66,618 | ) | | (30,572 | ) | | (79,744 | ) | | 12,392 |
| | 80,791 |
|
| Net income (loss) | (89,778 | ) | | (37,410 | ) | | (211,272 | ) | | (3,468 | ) | | 91,929 |
|
| Net income (loss) attributable to Lexington Realty Trust | (79,584 | ) | | (32,960 | ) | | (210,152 | ) | | 2,754 |
| | 75,249 |
|
| Net income (loss) attributable to common shareholders | (103,721 | ) | | (58,096 | ) | | (242,876 | ) | | (18,974 | ) | | 47,155 |
|
| Loss from continuing operations per common share - basic and diluted | (0.32 | ) | | (0.27 | ) | | (1.51 | ) | | (0.33 | ) | | (0.34 | ) |
| Income (loss) from discontinued operations - basic and diluted | (0.36 | ) | | (0.17 | ) | | (0.71 | ) | | 0.05 |
| | 1.07 |
|
| Net income (loss) per common share - basic and diluted | (0.68 | ) | | (0.44 | ) | | (2.22 | ) | | (0.28 | ) | | 0.73 |
|
| Cash dividends declared per common share | 0.47 |
| | 0.415 |
| | 0.64 |
| | 1.17 |
| | 3.60 |
|
| Net cash provided by operating activities | 180,137 |
| | 164,751 |
| | 159,307 |
| | 230,201 |
| | 287,651 |
|
| Net cash provided by (used in) investing activities | (24,813 | ) | | (24,783 | ) | | 111,967 |
| | 230,128 |
| | (31,490 | ) |
| Net cash provided by (used in) financing activities | (144,257 | ) | | (141,189 | ) | | (285,207 | ) | | (804,637 | ) | | 38,973 |
|
| Ratio of earnings to combined fixed charges and preferred dividends | N/A |
| | N/A |
| | N/A |
| | N/A |
| | N/A |
|
| Real estate assets, net | 2,566,707 |
| | 2,773,605 |
| | 3,015,400 |
| | 3,294,527 |
| | 3,729,266 |
|
| Investments in and advances to non-consolidated entities | 90,558 |
| | 72,480 |
| | 55,985 |
| | 179,133 |
| | 226,476 |
|
| Total assets | 3,078,048 |
| | 3,334,996 |
| | 3,579,845 |
| | 4,105,725 |
| | 5,264,705 |
|
| Mortgages, notes payable and credit facility, including discontinued operations | 1,662,375 |
| | 1,778,077 |
| | 2,072,738 |
| | 2,372,323 |
| | 3,028,088 |
|
| Shareholders' equity | 1,163,074 |
| | 1,280,156 |
| | 1,208,669 |
| | 1,406,075 |
| | 960,601 |
|
| Total equity | 1,221,431 |
| | 1,356,129 |
| | 1,297,236 |
| | 1,501,071 |
| | 1,739,565 |
|
| Preferred share liquidation preference | 322,032 |
| | 338,760 |
| | 338,760 |
| | 363,915 |
| | 389,000 |
|
|
|
| N/A - Ratio is below 1.0, deficit of $68,930, $48,105, $11,096, $594 and $59,532 exists at December 31, 2011, 2010, 2009, 2008 and 2007, respectively. |
All years have also been adjusted to reflect the impact of operating properties sold during the six months ended June 30, 2012 and years ended December 31, 2011, 2010, 2009, 2008 and 2007, which are reflected in discontinued operations in the Consolidated Statements of Operations.
