ARES INDUSTRIAL REAL ESTATE INCOME TRUST Inc. / "Incentive" | Tables in SEC filings

ARIR ARES INDUSTRIAL REAL ESTATE INCOME TRUST Inc.

Quarterly report

The following unaudited table presents a reconciliation of GAAP net income (loss) to FFO and AFFO:




	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(in thousands, except per share data)	2024		2023		2024		2023
GAAP net loss	$	(32,052)	$	(41,852)	$	(92,164)	$	(157,920)
Weighted-average shares outstanding—diluted		320,913		309,329		313,803		316,344
GAAP net loss per common share—diluted	$	(0.10)	$	(0.14)		(0.29)		(0.50)
Adjustments to arrive at FFO:
Real estate-related depreciation and amortization		73,289		72,846		217,735		217,186
Our share of adjustment above from unconsolidated joint venture partnership		68		47		215		47
Net gain on sale of real estate property		(13,394)		—		(56,923)		—
FFO	$	27,911	$	31,041	$	68,863	$	59,313
FFO per common share—diluted	$	0.09	$	0.10	$	0.22	$	0.19
Adjustments to arrive at AFFO:
Performance-based incentive fee income		(2,500)		—		(2,500)		—
Unrealized (gain) loss on financial instruments (1)		(7,267)		3,253		(1,826)		6,123
Decrease in financing obligation liability appreciation		—		(9,273)		(6,664)		(1,859)
Forfeited investment deposit		—		—		—		7,689
AFFO	$	18,144	$	25,021	$	57,873	$	71,266

Plan Category	Number of securities to be issued upon exercise of outstanding options, warrants and rights		Weighted-average exercise price of outstanding options, warrants and rights		Number of securities remaining available for future issuance under equity incentive plans
Equity compensation plans approved by security holders		427,528		—		853,881
Equity compensation plans not approved by security holders		11,615		—		1,934,180
Total		439,193		—		2,788,061




	For the Year Ended December 31,
(in thousands, except per share data)	2023		2022		2021
GAAP net loss	$	(210,223)	$	(312,915)	$	(75,827)
Weighted-average shares outstanding—diluted		312,121		300,216		202,480
GAAP net loss per common share—diluted		(0.67)		(1.04)		(0.37)
Adjustments to arrive at FFO:
Real estate-related depreciation and amortization		294,111		265,970		112,201
Our share of adjustment above from unconsolidated joint venture partnerships		98		371		8,094
Our share of net gain on disposition of real estate properties of unconsolidated joint venture partnership		—		—		(7,666)
NAREIT FFO	$	83,986	$	(46,574)	$	36,802
NAREIT FFO per common share—diluted	$	0.27	$	(0.16)	$	0.18
Adjustments to arrive at AFFO:
Performance-based incentive fee expense, net		—		140,505		33,507
Unrealized loss (gain) on financial instruments (1)		13,498		(25,175)		177
(Decrease) increase in financing obligation liability appreciation		(12,303)		26,568		—
Forfeited investment deposit		7,689		245		—
AFFO	$	92,870	$	95,569	$	70,486

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