FRA:2GL Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Rental Revenue	1,368	1,331	1,286	1,173	1,107
Other Revenue	-	-	-	-	109.69
Total Revenue	1,595	1,532	1,440	1,312	1,216
Revenue Growth (YoY	4.13%	6.33%	9.81%	7.84%	5.48%
Property Expenses	55.41	47.67	48.12	49.05	90.43
Selling, General & Administrative	63.49	59.57	56.45	51.32	61.25
Depreciation & Amortization	265.86	260.15	262.87	238.69	236.43
Provision for Loan Losses	-8.66	-37.25	-6.46	-6.9	-8.23
Total Operating Expenses	393.42	404.65	373.9	345.95	396.33
Operating Income	1,201	1,127	1,066	965.73	820.02
Interest Expense	-373.88	-366.9	-323.39	-309.29	-283.04
Interest & Investment Income	28.8	45.99	12.61	1.91	0.2
Other Non-Operating Income	-	-	2.19	-3.3	-
EBT Excluding Unusual Items	856.24	805.99	757.9	655.05	537.18
Gain (Loss) on Sale of Assets	0.13	3.79	0.02	67.48	21.75
Total Insurance Settlements	-	-	-	-	3.5
Other Unusual Items	-3.78	-	-0.56	-2.19	-
Pretax Income	852.59	809.78	757.37	720.34	562.43
Income Tax Expense	2.23	2.13	2	17.06	28.34
Earnings From Continuing Operations	850.36	807.65	755.37	703.29	534.09
Minority Interest in Earnings	-25.25	-23.03	-21.09	-18.63	-0.04
Net Income	825.11	784.62	734.28	684.65	534.05
Preferred Dividends & Other Adjustments	0.74	0.46	0.43	0.43	0.35
Net Income to Common	824.37	784.16	733.85	684.22	533.7
Net Income Growth	5.16%	6.86%	7.25%	28.20%	5.60%
Basic Shares Outstanding	280	273	264	253	235
Diluted Shares Outstanding	280	274	265	254	236
Shares Change (YoY)	2.33%	3.22%	4.39%	7.46%	7.49%
EPS (Basic)	2.95	2.87	2.78	2.71	2.27
EPS (Diluted)	2.95	2.87	2.77	2.70	2.26
EPS Growth	2.76%	3.52%	2.74%	19.30%	-1.75%
Dividend Per Share	3.100	3.040	2.900	2.805	2.660
Dividend Growth	1.97%	4.83%	3.39%	5.45%	6.40%
Operating Margin	75.33%	73.58%	74.04%	73.63%	67.42%
Profit Margin	51.69%	51.20%	50.95%	52.16%	43.88%
EBITDA	1,484	1,400	1,343	1,220	1,072
EBITDA Margin	93.07%	91.43%	93.23%	93.03%	88.14%
D&A For Ebitda	282.94	273.42	276.42	254.55	252.05
EBIT	1,201	1,127	1,066	965.73	820.02
EBIT Margin	75.33%	73.58%	74.04%	73.63%	67.42%
Funds From Operations (FFO)	1,114	1,062	-	-	-
FFO Per Share	3.86	3.77	-	-	-
Adjusted Funds From Operations (AFFO)	1,120	1,061	-	-	-
AFFO Per Share	3.88	3.77	-	-	-
FFO Payout Ratio	78.25%	78.22%	-	-	-
Effective Tax Rate	0.26%	0.26%	0.26%	2.37%	5.04%
Revenue as Reported	1,595	1,532	1,440	1,312	1,216

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.