Total Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2012

Total Comprehensive Income (Loss)

7. Total Comprehensive Income (Loss)

The following is a reconciliation of net income to comprehensive income attributable to Agree Realty Corporation for the three months ended March 31, 2012 and 2011.

	Three months ended March 31, 2012		Three months ended March 31, 2011
Net income	$	4,741,835	$	4,700,059
Other comprehensive income (loss)		52,791		121,801
Total comprehensive income before non-controlling interest		4,794,626		4,821,860
Less:  non-controlling interest		145,556		160,243
Total comprehensive income after non-controlling interest		4,649,070		4,661,617
Non-controlling interest of comprehensive income (loss)		1,621		4,153
Comprehensive income attributable to Agree Realty Corporation	$	4,647,449	$	4,657,464