Investor Presentaiton
NET INCOME TO NOI RECONCILIATION
Three Months Ended
Nine Months Ended
Year Ended
September 30,
September 30,
September 30,
September 30,
December 31,
December 31,
December 31,
Brokerage commissions and other revenues, net
Catastrophic event-related charges, net
(amounts in millions)
Net Income Attributable to SUI Common Shareholders
Interest income
General and administrative
Business combination expense
Depreciation and amortization
Asset impairments
2023
2022
2023
2022
2022
2021
2020
$
163.1
$
162.6
$
222.8
$
237.3
$
242.0
$
380.2
$
131.6
(15.2)
(11.2)
(40.6)
(25.3)
(35.2)
(12.2)
(10.1)
(26.0)
(10.8)
(45.3)
(27.4)
(34.9)
(30.2)
(17.2)
66.2
69.1
192.4
187.0
256.8
181.3
109.5
(3.1)
12.2
(2.2)
12.3
17.5
2.2
0.9
8.4
3.0
23.9
24.7
1.4
23.0
162.6
149.7
482.3
447.7
601.8
522.7
376.9
1.2
1.6
10.1
2.3
3.0
-
Loss on extinguishment of debt
4.0
4.4
4.4
8.1
5.2
Interest expense
84.1
61.7
239.9
162.2
229.8
158.6
129.1
Interest on mandatorily redeemable preferred OP units / equity
0.8
1.0
2.7
3.1
4.2
4.2
4.2
(Gain)/loss on remeasurement of marketable securities
(6.1)
7.2
8.0
74.0
53.4
(33.5)
(6.1)
(Gain) / loss on foreign currency exchanges
6.5
(14.9)
6.5
(21.7)
(5.4)
3.7
(7.7)
(Gain) / loss on disposition of properties
Other (income) / expense, net
(Gain) loss on remeasurement of notes receivable
Income from nonconsolidated affiliates
Current tax expense
0.7
0.8
2.9
(12.5)
(12.2)
(108.1)
(5.6)
3.7
(2.8)
5.5
(2.6)
2.1
12.1
5.2
1.3
0.1
3.1
(0.1)
0.8
(0.7)
3.3
(1.4)
(2.0)
(0.5)
(3.8)
(2.9)
(4.0)
(1.7)
(Gain) / loss on remeasurement of investment in nonconsolidated
0.4
4.5
(0.1)
2.7
0.2
1.6
4.6
7.3
13.9
12.5
10.3
1.2
0.8
Deferred tax expense / (benefit)
(2.3)
(3.6)
(14.6)
(3.9)
(4.2)
0.1
(1.6)
Add: Preferred return to preferred OP units / equity interests
3.3
2.5
9.0
8.6
11.0
12.1
6.9
Add: Income attributable to noncontrolling interests
ΝΟΙ
$
14.0
458.0 $
11.9
455.2
$
13.2
1,116.6
13.9
10.8
21.5
8.9
$
1,091.8
$
1,380.5
$
1,120.9
$
757.1
Three Months Ended
September 30,
2023
September 30,
2022
September 30,
2023
Nine Months Ended
September 30,
2022
December 31,
2022
Year Ended
December 31,
2021
December 31,
2020
Real Property NOI
$
Home Sales NOI
Service, retail dining and entertainment NOI
ΝΟΙ
$
394.0
37.3
26.7
458.0
$
$
371.6
54.3
29.3
455.2
$
966.3
101.8
$
$
48.5
1,116.6
909.2
122.9
59.7
$
1,167.0
154.6
58.9
$
1,002.6
$
721.3
74.4
28.6
43.9
7.2
$
1,091.8
$
1,380.5
$
1,120.9
$
757.1
SUN
SUN COMMUNITIES, INC.
Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended September 30, 2023, as well as Press Releases and SEC Filings after September 30, 2023, for additional information.
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