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Item 6. Selected Financial Data

The following selected financial and operating information should be read in conjunction with Item 7 — “Management’s Discussion and Analysis of Financial Condition and Results of Operation,” and our financial statements, including the notes thereto, included elsewhere herein.


	As of and For the Year Ended December 31,
	2005		2004		2003		2002		2001
	(Dollars in thousands except per share data)
Operating Data:
Total revenues⁽¹⁾	$	107,372	$	82,194	$	60,739	$	51,920	$	39,680
Total costs and expenses⁽¹⁾		31,886		21,421		17,643		17,495		19,221
Net income before gain on sale of consolidated real estate interests, loss on sale of unconsolidated real estate interest, gain on sale of loan, and income from loan satisfaction		75,452		60,743		43,131		34,367		20,500
Net income from continuing operations		75,254		63,146		45,503		41,347		21,035
Net income available to common shareholders		67,951		60,878		47,164		43,505		26,914
Net income from continuing operations per common share basic		2.48		2.37		2.16		2.38		2.09
Net income per common share basic		2.59		2.49		2.24		2.50		2.68
Net income from continuing operations per common share diluted		2.46		2.36		2.15		2.36		2.07
Net income per common share diluted		2.57		2.48		2.23		2.48		2.65
Balance Sheet Data:
Total assets		1,024,585		729,498		534,555		438,851		333,166
Indebtedness secured by real estate⁽²⁾		131,032		117,165		131,839		115,166		109,559
Unsecured line of credit		240,000		—		—		—		—
Secured lines of credit		22,400		49,000		23,904		30,243		2,000
Shareholders’ equity		609,235		541,710		363,402		277,595		211,025
Other Data:
Dividends per share	$	2.43	$	2.40	$	2.46	$	2.39	$	2.12


⁽¹⁾		Presentation does not include revenues and costs for assets and liabilities which RAIT has classified as held for sale or as discontinued operations under Statement of Financial Accounting Standards No. 144, “Accounting for the Impairment or Disposal of Long-Lived Assets” or SFAS No. 144.

⁽²⁾		The sum of senior indebtedness relating to loans, long-term debt secured by consolidated real estate interests and liabilities underlying consolidated real estate interest held for sale.