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How do I calculate Average Operating Assets? Please see below the balance sheet and Statement of Income. Consolidated Balance Sheets - USD ($) $ in
How do I calculate "Average Operating Assets"? Please see below the balance sheet and Statement of Income.
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | ||
ASSETS | |||||
Cash and cash equivalents | $ 188,912 | $ 152,467 | $31,481 | ||
Real estate facilities, at cost: | |||||
Land | 793,569 | 793,569 | 781,541 | ||
Buildings and improvements | 2,215,515 | 2,182,993 | 2,152,178 | ||
Gross real estate investment property | 3,009,084 | 2,976,562 | 2,933,719 | ||
Accumulated depreciation | (1,082,603) | (991,497) | (918,202) | ||
Net real estate investment property | 1,926,481 | 1,985,065 | 2,015,517 | ||
Properties held for disposition, net | 25,937 | 124,883 | |||
Land and building held for development | 6,081 | 24,442 | 22,253 | ||
Total real estate investments | 1,932,562 | 2,035,444 | 2,162,653 | ||
Investment in unconsolidated joint venture | 26,736 | 0 | 0 | ||
Rent receivable, net | 2,234 | 2,838 | 5,248 | ||
Deferred rent receivable, net | 28,327 | 26,050 | 25,903 | ||
Other assets | 7,887 | 10,315 | 13,274 | ||
Total assets | 2,186,658 | 2,227,114 | 2,238,559 | ||
LIABILITIES AND EQUITY | |||||
Accrued and other liabilities | 76,059 | 68,905 | 73,919 | ||
Mortgage note payable | 250,000 | 250,000 | 250,000 | ||
Total liabilities | $ 326,059 | $ 318,905 | 323,919 | ||
Commitments and contingencies | |||||
PS Business Parks, Inc.'s shareholders' equity: | |||||
Preferred stock, $0.01 par value, 50,000,000 shares authorized, 36,800 and 39,800, 39,800 shares issued and outstanding at December 31, 2015, 2014, and 2013 respectively | $ 920,000 | $ 995,000 | $ 995,000 | ||
Common stock, $0.01 par value, 100,000,000 shares authorized, 27,034,073, 26,919,161, and 26,849,822 shares issued and outstanding at December 31, 2015, 2014, and 2013 respectively | 269 | 268 | 267 | ||
Paid-in capital | 722,009 | 709,008 | 699,314 | ||
Cumulative net income | 1,375,421 | 1,244,946 | 1,070,975 | ||
Cumulative distributions | (1,357,203) | (1,235,941) | -1,047,615 | ||
Total PS Business Parks, Inc.'s shareholders' equity | 1,660,496 | 1,713,281 | 1,717,941 | ||
Noncontrolling interests: | |||||
Common units | 200,103 | 194,928 | 196,699 | ||
Total noncontrolling interests | 200,103 | 194,928 | 196,699 | ||
Total equity | 1,860,599 | 1,908,209 | 1,914,640 | ||
Total liabilities and equity | $ 2,186,658 | $ 2,227,114 | $2,238,559 | ||
Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |||
Revenues: | |||||
Rental income | $ 373,135 | $ 376,255 | $ 359,246 | ||
Facility management fees | 540 | 660 | 639 | ||
Total operating revenues | 373,675 | 376,915 | 359,885 | ||
Expenses: | |||||
Cost of operations | 121,224 | 127,371.00 | 114,831 | ||
Depreciation and amortization | 105,394 | 110,357 | 108,917 | ||
General and administrative | 13,582 | 13,639 | 5,312 | ||
Total operating expenses | 240,200 | 251,367 | 229,060 | ||
Other income and (expense): | |||||
Interest and other income | 590 | 372 | 1,485 | ||
Interest and other expense | (13,330) | (13,593) | (16,166) | ||
Total other income and (expense) | (12,740) | (13,221) | (14,681) | ||
Gain on sale of real estate facilities | 28,235 | 92,373 | 0 | ||
Income Taxes *As a REIT, the Company is not subject to federal income tax | 0 | 0 | 0 | ||
Net income | 148,970 | 204,700 | 116,144 | ||
Net income allocable to noncontrolling interests: | |||||
Noncontrolling interests - common units | 18,495 | 30,729 | 12,952 | ||
Total net income allocable to noncontrolling interests | 18,495 | 30,729 | 12,952 | ||
Net income allocable to PS Business Parks, Inc.: | |||||
Preferred shareholders | 61,885 | 60,488 | 59,216 | ||
Restricted stock unit holders | 299 | 329 | 125 | ||
Common shareholders | 68,291 | 113,154 | 43,851 | ||
Total net income allocable to PS Business Parks, Inc. | 130,475 | 173,971 | 103,192 | ||
Net income | $ 148,970 | $ 204,700 | $ 116,144 | ||
Diluted Earnings per common share: | |||||
Basic | $ 2.53 | $ 4.21 | |||
Diluted | $ 2.52 | $ 4.19 | |||
Weighted average common shares outstanding: | |||||
Basic | 26,973 | 26,899 | |||
Diluted | 27,051 | 27,000 | |||
Distributions paid to preferred shareholders | $ 59,398 | 60,488 | |||
Market Price per share Common | $ 246.06 | $ 179.06 | |||
Dividends per common share | $ 6.50 | $ 5.60 | |||
2015 | 2014 | ||||
Net Profit Margin | 34.92% | 46.16% | 1 | 1 | |
Average Total Assets | 2206886 | 2232836.5 | 1 | 1 | |
Total Asset Turnover | 0.17 | 0.17 | 1 | 1 | |
Return on Assets | 5.91% | 7.79% | 1 | 1 | |
Dupont Return on Assets | 5.91% | 7.79% | 1 | 1 | |
Operating Income | 133,475 | 125,548 | 1 | 1 | |
Operataing Income Margin | 35.72% | 33.31% | 1 | 1 | |
Average Operating Assets | 0 | 0 | |||
Operating Asset Turnover | 0 | 0 | |||
Return on Operating Assets | 0 | 0 | |||
Average Longterm Liabilities | 0 | 0 | |||
Average Total Equity | 0 | 0 | |||
Return on Investment | 0 | 0 | |||
Return on Total Equity | 0 | 0 | |||
Chapter 9 | 2015 | 2014 | |||
Earnings Per Share | 0 | 0 | |||
Price/Earnings | 0 | 0 | |||
Dividend Payout | 0 | 0 | |||
Dividend Yield | 0 | 0 | |||
Book Value Per Share | 0 | 0 | |||
Total | 37% |
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