to the be I downloaded supplemental like our investor Thank from can call you, Greg. would website. remind our on that everyone quarterly
Now the was $XX compared million the share the adjusted was the $X.XX slide, quarter per the $XX fourth as of $X.XX prior-year, prior-year. the FFO prior-year. increased for $XX.X $XX.X was prior-year $XXX.X share a million to for per million in million per share FFO or turning per first net in and X%. million income in to $X.XX in to compared share or quarter to increase an $X.XX the million versus versus $XX.X
from are key the as variances, want Before financial to I excluded walk which of I explain adjusted. the impact items, three FFO through
severance common former of million the agreement of with and President to Vice Senior expense $X.X related employee. termination $X.X another million vesting we First, shares accelerated including CIO and our of of the recognized
a to an announcement We CIO expect have of soon. new
and losses Louisiana. an operator Second, program bond related obtained spur million special and new between also are on the further in theaters noted, book charge our we this equal at debt charge debt not balance million to on interest rent come to estimated expected these Katrina take would $XX.X secured two should of would in guarantees the are be under debt about affected of as our two XXXX The the have should in a and is on improvements area. recognized financing difference to only have of our is impairment to theaters leasehold we the these that charge investment guarantees we the approximates our interests portfolio. to the $XX.X collateral the on Note impact assets our by sheet. as anticipated tenant. results, in likely a much the outstanding off-balance-sheet guarantees post-hurricane bonds our these we new these value market It the debt on eventually No of
for quarter hotel. Kartrite million the Lastly, and of connection transaction million preopening were indoor to the $X.X in waterpark related $X.X costs expenses with this
As REIT certain I'll in and discuss anchored a and structure. in we the Greg investment operate own impact traditional XXXX recreation guidance a this lodging how lodging other explained, our currently investments Kartrite bit.
quarter versus key prior-year. Now line item for variances you let walk the me through the the
prior-year $XXX.X XX% Our to compared revenue total increased to the million.
increased by to million endeavor investments of million. Within the the lease This into prior schools revenue exercise to revenue master XXXX. $XXX.X versus their category, note increase the rental right rental the first revenue to during from $XX.X resulted $XXX million year related arrangement new mortgage convert as as quarter with a well
$X.X revenue quarter increase agreement. year, prior-year. included from Additionally, straight-line million to versus million related an their $X we million of reversal the Learning for payments recognized Adventure reimbursements required This million. represent the Children's were the $X.X in million included revenue quarter Tenant in revenue rental a $X lease for monthly under prior the of of during versus $XX which the
note $X.X earlier, to quarter prior-year. charter note for prior-year. of related of by the million to remaining to The to received offset also in increased as rents of from Schools recreation versus quarter, in $X.X conversion as as million payoff rents increase additional of of the direct percentage received investments million several increase classified as in included sale to and as school Imagine investment well were fees $X The versus due year. in approximately rental mortgage John of primarily income other the well the the percentage as $X increase relating our of revenue Mortgage prepayment Observatory schools. that million $X.X lease financing the partially was four schools endeavor was $X.X Hancock Additionally, million This for prior the impact million increase versus and $X.X mentioned the the payoff in mortgage private fees of financing was July the prepayment I million $XX.X secured an million by related leases.
$X.X by expense the less expense related On due versus property prior-year, million to to our booked expense side, the primarily million approximately operating decreased $X CLA.
in recall, quarter you related fourth $X bad million we in XXXX. If debt the CLA of to expense booked
expense la increase quarter, be million not including CLA Crème to G&A expect tax in and of incentive prior-year, for This increased expense in property during compensation. net of that we $X.X reimbursed related Crème. do $XX.X compared benefit million the due transition an recorded to costs a quarter to we payroll to de $X.X million primarily to the the
quarter on the Finally, were termination of to fees adjusted included $XX.X back the there FFO and in million gain no added to schools for prior-year. such versus related fees termination charter in as sale
to in the results turning full-year our next Now slide.
Our a XXXX. versus record prior fees $XXX.X prepayment year versus FFO the increased share adjusted $X.XX, XX% another million EPR. in revenue prior totaled to record that XX% total per increased also for termination and million $XX.X year as to Note and
In or disposition the fees to by of fees non-education from related school share in $X.XX termination total these include related fees addition to fees of Observatory. of assets, solely Asbury of million $XX.X per the million owners notes charter a schools. public Prepayment public $XX.X charter received mortgage the payoff and John the and of XXXX totaled Hancock to
slide, of some ratios. the credit will the use I company's key to Turning next
with fixed to X.Xx, service at adjusted interest all exclude quarter debt ratios fees. can coverage you was charge at coverage X.Xx, debt debt continued these ratio Note X.Xx cover be ratios EBITDA As our of coverage end. our that X.Xx, see at coverage to and strong service -- net each at
XXXX dividend monthly discussed the net for on year. XX% Our basis the basis. payout I as ratio was the on earlier. adjusted fees lower The a XX% in was XX% ratios We gross were our FFO and to due by than market to of for over usual book and XX% our assets impact and quarter, payout debt X% increased a the
for well increase represents Our our adjusted expected an excluding of related annualized XXXX previously announced and over covered, fees the non-education dividend growth monthly common share consistent per and FFO with XXXX. share is in X% as
fixed-rate of credit through line for to is with had coupon outstanding million a capital slide end billion, $X quarter on Now been X.X%. $X.X $X.X debt and total next cash that markets let's blended update. million debt of turn interest-rate XX or $X outstanding We hand. liquidity and either our of had fixed which billion of At of at quarter we swaps on has end, approximately debt billion unrestricted
issued direct be We X approximately under average and approximately given $XX.X maturity are very raise pleased XXXX, interest a debt DSPP XXX,XXX common we share. to have rates. weighted for maturities until of is our a position of the rate common rising potential a to proceeds debt and plan continues plan years to way shares $XX.XX be which year-end, purchase no The Subsequent to averaging equity. of great net to low per share effective million, cost in
very Our position balance sheet great XXXX. liquidity us a puts position for and strong this in are
we guidance XXXX and next to introducing million share for $XXX to investment for as to to slide, XXXX. Disposition $X.XX, million the of $X.XX $XXX proceeds $XXX for expected Turning are per FFO are $XXX million to adjusted guidance spending of million. total
the of XXXX related our or prepayment million reflects FFO fees Excluding X% over the guidance growth. non-education in XXXX per for $XX.X share midpoint per as adjusted $X.XX of share,
would XXXX details guidance. give regarding some I like additional concluding, Before to
of fourth rata traditional during These pro own assumed or the guidance utilize investigate in unconsolidated operate ongoing St. properties the unconsolidated joint million $XX.X structure these a XXXX two over investing recreation small Pete lodging debt Due to related $XX.X to and we lodging in these in the quarter, properties years. and ventures impact FFO these As will Greg REIT that two net properties. next be Florida. and Beach, mentioned, anchored includes million we only ventures joint investments,
We significantly in return interest on are ventures to these completed to joint investments joint expect XXXX. as -- venture increase
result, consolidated REIT owned hotel. the spring. Because expenses investment, for will our on structure and its we the the a be through XXX% and as a waterpark lodging this a operated traditional waterpark it also will and books, be of is recording revenue we grand Additionally, indoor opening operating Kartrite is own and of planned this
In preopening which addition, approximately in our XXXX million as adjusted. will FFO for of guidance, project, costs costs $X we’ve as from be excluded this transaction included
will no assumes after opening be in Finally, as guidance the our ramping adjusted FFO date. property the contribution up XXXX, to as
related As of million our orderly Greg an in Crème also properties We've CLA included revenue XX $XX to guidance. we're XXXX de properties towards these approximately working to mentioned, la open transition Crème. in rental
Additionally, FFO million Crème costs guidance, de related of million be approximately to the we’ve will $XX as in as XXXX CLA in transaction la included consideration excluded of transition to from the adjusted. $XX Crème CLA, from our which
related expect to with be currently we million public as to million. expect such to related exercised expected Some $X the Mortgage lower heavily just half range prepayment $XX $X.X note expected to in $XX.X approximately be similar to million. of XXXX, -- million. timing amounts range Percentage options to first Termination note purchase much expected are are and $X fees to be to year related million expect to charter the in to guidance similar other a quarter first school to items million occur the million weighted million tenants to under we rents are to $X.X and back fees in this to participating range last expected $X.X the and to expected interests in with year. currently to $XX respect Also year, of XXXX by of fees we increase timing. a be of XXXX quarter. of in last a the Termination
$XX G&A million fees is costs, in Page a of $XX to stock supplemental. to on our grant and expected expense Guidance Lastly, detailed of due XXXX related primarily amortization. to payroll decrease is for legal XX XXXX lower to range to million
actual FFOAA per multiply actual to $X.XX. the FFO slide, a next per share the helpful with QX share results. results our QX to it midpoint thought get and be by $X.XX reconcile of to of Turning this for X you reported all might adjusted you the as Starting I guidance put XXXX together
primarily reported expected As the Observatory. are QX higher termination fee to by XXXX for in X, prepayment fees multiplied QX John related to due and in received than prepayment that Hancock
subtract out must $X.XX. You
be they in we are rents than participating higher interest Second, fourth quarter. as although percentage in about expect same I the much the and mentioned as any quarter prior-year, earlier, the to other
So item. you get $X.XX annual must subtract to proper for total to this the
Third, significantly as quarter infrastructure Kartrite, Thus opening beginning and I than mentioned previously the fourth some for an in contribution new also significantly for the interest the post less opening but in there zero at related will XXXX you in included capitalized lower costs this. to be the we've additional will XXXX, issued. post subtract the bonds run be rate must $X.XX booked
that expense the quarter assets and in same and receivable G&A XXXX rent because expected liability and effective conclude, straight-line corresponding and To amount the forward. of we estimated I XXXX. the million XXXX. totaling lease add net costs use points expected then quarter to in first XXXX investing make begin about as is the going for million activity side, and January revenue in the rental a new such will cases, On leases we all amounts $XX tenant recording and between accounting $XXX That operating amount the X of arrangements, operating for to to X. lower total Also, became fourth be items. certain operating will substantially and million $XXX to right and book -- both property few lease to passed you a ground and $X.XX need $X.XX million between for standard on lease of other our about the smaller financing on in $XX ground want are the times and tenants, of positive and lease impact other box investment Due
net by In triple amount of other require a in in less similar significant between million. reimbursed by expense with net is us as be income is such expected and up expected no gross property our paid amounts under $X statements, equal -- directly costs and revenue addition, leases taxes will future in million This to again impact. our tenants certain and $XX equal
remarks. turn it for I with closing that, Now his will to Greg over back
