Investor Presentaiton
GROSS VS. NET GENERAL AND ADMINISTRATIVE EXPENSES
(in thousands) (unaudited)
General and administrative expenses
Q4'20
Q1'21
Q2'21
Q3'21
Q4'21
20,784
22,391
22,748
21,817
18,762
Less: other reimbursements (1)
6,645
5,480
5,061
4,865
2,889
Net general and administrative expenses
$
14,139
16,911
17,687
16,952
15,873
Sequential Change
7.2 %
19.6 %
4.6 %
(4.2)%
(6.4)%
Total management and operating revenues
$
52,981
$
50,460
46,758
42,922
39,991
Sequential Change
(3.6)%
(4.8)%
(7.3)%
(8.2)%
(6.8)%
Net G&A as a % of management and operating
26.7 %
33.5 %
37.8 %
39.5 %
39.7%
revenues
(1) Other reimbursements represent reimbursements that arise from certain centralized services we provide pursuant to our management agreements with DHC and are presented exclusive of restructuring
related reimbursements in connection with the Repositioning phase of the Strategic Plan. Specifically for Q2 2021, Q3 2021 and Q4 2021 reimbursements exclude $11,531, $813 and $966, respectively, of
restructuring related expenses which were reimbursed by DHC.
Appendix
15View entire presentation