FRA:2GL Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Rental Revenue	1,371	1,336	1,286	1,173	1,107	1,031
Other Revenue	-	-	-	-	109.69	103
Total Revenue	1,577	1,532	1,440	1,312	1,216	1,153
Revenue Growth (YoY	4.39%	6.33%	9.81%	7.84%	5.48%	-0.03%
Property Expenses	53.51	47.67	48.12	49.05	90.43	85.74
Selling, General & Administrative	65.53	59.57	56.45	51.32	61.25	68.57
Depreciation & Amortization	266.48	260.15	262.87	238.69	236.43	230.97
Provision for Loan Losses	-45.67	-37.25	-6.46	-6.9	-8.23	-
Total Operating Expenses	431.19	404.65	373.9	345.95	396.33	385.28
Operating Income	1,146	1,127	1,066	965.73	820.02	767.88
Interest Expense	-379.11	-366.9	-323.39	-309.29	-283.04	-282.14
Interest & Investment Income	37.47	45.99	12.61	1.91	0.2	0.57
Other Non-Operating Income	-	-	2.19	-3.3	-	-
EBT Excluding Unusual Items	804.5	805.99	757.9	655.05	537.18	486.31
Gain (Loss) on Sale of Assets	0.13	3.79	0.02	67.48	21.75	41.39
Total Insurance Settlements	-	-	-	-	3.5	-
Other Unusual Items	-3.78	-	-0.56	-2.19	-	-18.11
Pretax Income	800.84	809.78	757.37	720.34	562.43	509.59
Income Tax Expense	2.23	2.13	2	17.06	28.34	3.88
Earnings From Continuing Operations	798.61	807.65	755.37	703.29	534.09	505.71
Minority Interest in Earnings	-23.58	-23.03	-21.09	-18.63	-0.04	-
Net Income	775.03	784.62	734.28	684.65	534.05	505.71
Preferred Dividends & Other Adjustments	0.73	0.46	0.43	0.43	0.35	0.58
Net Income to Common	774.3	784.16	733.85	684.22	533.7	505.13
Net Income Growth	-0.47%	6.86%	7.25%	28.20%	5.60%	29.38%
Basic Shares Outstanding	277	273	264	253	235	219
Diluted Shares Outstanding	278	274	265	254	236	220
Shares Change (YoY)	2.15%	3.22%	4.39%	7.46%	7.49%	1.85%
EPS (Basic)	2.79	2.87	2.78	2.71	2.27	2.31
EPS (Diluted)	2.79	2.87	2.77	2.70	2.26	2.30
EPS Growth	-2.56%	3.52%	2.74%	19.30%	-1.75%	27.03%
Dividend Per Share	3.080	3.040	2.900	2.805	2.660	2.500
Dividend Growth	2.33%	4.83%	3.39%	5.45%	6.40%	-8.76%
Operating Margin	72.66%	73.58%	74.04%	73.63%	67.42%	66.59%
Profit Margin	49.09%	51.20%	50.95%	52.16%	43.88%	43.80%
EBITDA	1,429	1,400	1,343	1,220	1,072	1,011
EBITDA Margin	90.59%	91.43%	93.23%	93.03%	88.14%	87.66%
D&A For Ebitda	282.73	273.42	276.42	254.55	252.05	243
EBIT	1,146	1,127	1,066	965.73	820.02	767.88
EBIT Margin	72.66%	73.58%	74.04%	73.63%	67.42%	66.59%
Funds From Operations (FFO)	1,063	1,062	1,016	-	-	-
FFO Per Share	-	3.77	3.73	-	-	-
Adjusted Funds From Operations (AFFO)	-	1,061	1,007	-	-	-
AFFO Per Share	-	3.77	3.69	-	-	-
FFO Payout Ratio	80.87%	78.22%	75.64%	-	-	-
Effective Tax Rate	0.28%	0.26%	0.26%	2.37%	5.04%	0.76%
Revenue as Reported	1,577	1,532	1,440	1,312	1,216	1,153

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