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Financial Information

As Reported Financials

Source Document Currency Code (in thousands) 2016 Q3 YTD 9/30/2016 USD 2015 Y 12/31/2015 USD 2014 Y 12/31/2015 USD 2013 Y 12/31/2015 USD 2012 Y 12/31/2014 USD
Source Document Currency Code 2016 Q3 YTD 9/30/2016 USD 2015 Y 12/31/2015 USD 2014 Y 12/31/2015 USD 2013 Y 12/31/2015 USD 2012 Y 12/31/2014 USD

Revenues

Wholly-owned properties 546,078 704,909 690,582 618,503 422,417
On-campus participating properties 23,018 31,586 28,534 26,348 26,166
Third-party development services 3,929 4,964 4,018 2,483 8,574
Third-party management services 7,039 8,813 7,669 7,514 6,893
Resident services 2,325 3,109 3,112 2,614 1,605
Total revenues 582,389 753,381 733,915 657,462 465,655

Operating expenses

Wholly-owned properties 257,175 331,836 329,615 296,794 200,126
On-campus participating properties 10,125 12,437 11,290 11,049 11,073
Third-party development and management services 10,638 14,346 12,008 10,935 10,898
General and administrative 16,810 20,838 18,681 16,541 22,965
Depreciation and amortization 159,486 208,788 197,495 184,988 110,499
Ground/facility leases 6,736 8,232 7,397 5,402 4,248
Provision for real estate impairment NA 0 2,443 0 0
Total operating expenses 460,970 596,477 578,929 525,709 359,809
Operating income 121,419 156,904 154,986 131,753 105,846

Nonoperating income and (expenses)

Interest income 4,026 4,421 4,168 3,005 1,756
Interest expense (61,762) (87,789) (90,362) (78,028) (54,518)
Amortization of deferred financing costs (5,238) (5,550) (5,918) (5,608) (4,425)
Gain from disposition of real estate 17,409 52,699 (368) 0 0
Income from unconsolidated joint ventures NA NA NA NA 444
Loss from early extinguishment of debt 0 (1,770) 0 0 NA
Other nonoperating income 0 388 186 (2,666) 411
Total nonoperating expense (45,565) (37,601) (92,294) (83,297) (56,332)
Income before income taxes 75,854 119,303 62,692 48,456 49,514
Income tax provision (1,035) (1,242) (1,308) (1,020) (725)
Income from continuing operations NA 118,061 61,384 47,436 48,789

Discontinued operations

(Loss) income attributable to discontinued operations NA 0 (123) 4,824 8,728
Loss from early extinguishment of debt NA 0 0 (332) (1,591)
Gain from disposition of real estate NA 0 2,843 55,263 4,312
Total discontinued operations NA 0 2,720 59,755 11,449
Net income 74,819 118,061 64,104 107,191 60,238

Net income attributable to noncontrolling interests

Redeemable noncontrolling interests (865) (1,458) (913) (1,359) (847)
Partially owned properties (285) (612) (352) (1,188) (2,755)
Net income attributable to noncontrolling interests (1,150) (2,070) (1,265) (2,547) (3,602)
Net income attributable to ACC, Inc. and Subsidiaries common stockholders 73,669 115,991 62,839 104,644 56,636

Other comprehensive income (loss)

Change in fair value of interest rate swaps and other (162) 464 (4,859) 5,226 (3,301)
Comprehensive income 73,507 116,455 57,980 109,870 53,335

Income per share attributable to ACC, Inc. and Subsidiaries common stockholders - basic

Income from continuing operations per share NA 1.03 0.56 0.43 0.53

Net income per share attributable to ACC, Inc. and Subsidiaries common stockholders

Basic 0.57 1.03 0.59 0.99 0.66
Diluted 0.56 1.02 0.58 0.98 0.65

Income per share attributable to ACC, Inc. and Subsidiaries common stockholders - diluted

Income from continuing operations per share NA 1.02 0.56 0.42 0.52

Weighted-average common shares outstanding

Basic 128,239,294 111,987,361 105,032,155 104,760,502 84,711,584
Diluted 129,034,401 114,032,222 105,711,420 105,382,320 85,309,451
Distributions declared per common share 1.24 1.58 1.50 1.42 NA
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.