EX-99.3 10 j8376_ex99d3.htm EX-99.3

Exhibit 99.3

 

SELECTED QUARTERLY FINANCIAL INFORMATION

(Unaudited)

 

Selected quarterly information for the years ended December 31, 2002 and 2001 is as follows (in thousands, except per unit amounts):

 

 

 

Quarter Ended

 

 

 

December 31

 

September 30

 

June 30

 

March 31

 

 

 

 

 

 

 

 

 

 

 

2002

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from Rental Operations

 

$

176,341

 

$

181,188

 

$

179,525

 

$

174,472

 

Revenues from Service Operations

 

11,401

 

11,584

 

15,364

 

29,271

 

Net income available for common units

 

31,236

 

43,452

 

54,015

 

51,043

 

Basic income per common unit

 

$

0.21

 

$

0.29

 

$

0.36

 

$

0.34

 

Diluted income per common unit

 

$

0.21

 

$

0.29

 

$

0.36

 

$

0.34

 

Weighted average common units

 

149,884

 

149,810

 

149,310

 

148,670

 

Weighted average common and dilutive potential common units

 

150,692

 

151,256

 

151,092

 

150,270

 

Funds From Operations(1)

 

$

89,704

 

$

89,536

 

$

98,841

 

$

98,373

 

Cash flow provided by (used by):

 

 

 

 

 

 

 

 

 

Operating activities

 

$

91,608

 

$

102,277

 

$

163,822

 

$

211,266

 

Investing activities

 

(129,022

)

(55,738

)

(103,058

)

(49,429

)

Financing activities

 

11,409

 

(4,840

)

(72,583

)

(159,036

)

 

 

 

 

 

 

 

 

 

 

2001

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues from Rental Operations

 

$

177,188

 

$

176,003

 

$

179,627

 

$

181,921

 

Revenues from Service Operations

 

12,835

 

21,676

 

23,627

 

22,321

 

Net income available for common units

 

50,130

 

88,018

 

56,877

 

67,405

 

Basic income per common unit

 

$

0.34

 

$

0.59

 

$

0.39

 

$

0.46

 

Diluted income per common unit

 

$

0.34

 

$

0.58

 

$

0.38

 

$

0.45

 

Weighted average common units

 

147,961

 

148,396

 

147,899

 

147,240

 

Weighted average common and dilutive potential common units

 

149,842

 

158,594

 

149,572

 

151,031

 

Funds From Operations(1)

 

$

95,657

 

$

101,375

 

$

101,645

 

$

97,016

 

Cash flow provided by (used by):

 

 

 

 

 

 

 

 

 

Operating activities

 

$

81,708

 

$

167,802

 

$

21,545

 

$

77,625

 

Investing activities

 

(43,061

)

38,918

 

125,192

 

(27,561

)

Financing activities

 

(38,160

)

(296,623

)

(85,940

)

(50,192

)

 

(1)               Funds From Operations is defined by the National Association of Real Estate Investment Trusts as net income or loss, excluding gains or losses sales of depreciated property, plus operating property depreciation and amortization and adjustments for minority interest and unconsolidated companies on the same basis. Funds From Operations does not represent cash flow from operations as defined by generally accepted accounting principles, should not be considered as an alternative to net income as an indicator of the Partnership’s operating performance, and is not indicative of cash available to fund all cash flow needs.