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Investor Presentaiton

Financial Information: FFO and FAD Reconciliation1 In thousands, except per share amounts; dollars in USD; totals may not add due to rounding Note: Nareit FFO excluding the following income and expense items (which may be recurring in nature): (i) Deal Costs; (ii) the impact of any expenses related to asset impairment and valuation allowances, the write-off of unamortized deferred financing fees, or additional costs, expenses, discounts, make whole payments, penalties or premiums incurred as a result of early retirement or payment of the Company's debt; (iii) the non-cash effect of income tax benefits or expenses, the non-cash impact of changes to the Company's executive equity compensation plan, derivative transactions that have non-cash mark to market impacts on the Company's income statement and non-cash charges related to leases; (iv) the financial impact of contingent consideration, severance- related costs and charitable donations to the Ventas Charitable Foundation; (v) gains and losses for non- operational foreign currency hedge agreements and changes in the fair value of financial instruments; (vi) gains and losses on non-real estate dispositions and other unusual items related to unconsolidated entities; (vii) net expenses or recoveries related to natural disasters; and (viii) any other incremental items set forth in the Normalized FFO reconciliation included herein." (1) (2) Per share quarterly amounts may not add to annual per share amounts due to material changes in the Company's weighted average diluted share count, if any. Potential common shares are not included in the computation of diluted earnings per share when a loss from continuing operations exists as the effect would be an antidilutive per share amount. Net income (loss) attributable to common stockholders Net income (loss) attributable to common stockholders per share 2 Adjustments: Depreciation and amortization on real estate assets Depreciation on real estate assets related to noncontrolling interests Depreciation on real estate assets related to unconsolidated entities Gain on real estate dispositions (Loss) gain on real estate dispositions related to noncontrolling interests Gain on real estate dispositions related to unconsolidated entities Subtotal: FFO adjustments Subtotal: FFO adjustments per share FFO (Nareit) attributable to common stockholders FFO (Nareit) attributable to common stockholders per share Adjustments: Change in fair value of financial instruments Non-cash income tax (benefit) expense Loss on extinguishment of debt, net Loss on transactions related to unconsolidated entities Transaction expenses, deal costs and re-audit costs Amortization of other intangibles Other items related to unconsolidated entities Non-cash impact of changes to equity plan Natural disaster (recoveries) expenses, net Allowance on loan investments and impairment of unconsolidated entities, net of noncontrolling interests Subtotal: Normalized FFO adjustments Subtotal: Normalized FFO adjustments per share Normalized FFO attributable to common stockholders Normalized FFO attributable to common stockholders per share Weighted average diluted shares A VENTASⓇ 2016 Q1 2019 Q4 $ $ 148,980 0.44 $ 11,443 $ $ 0.03 2021 Q4 (40,854) $ (0.10) 234,726 (2,075) 1,989 347,371 (3,682) 311 317,936 (4,561) 4,781 (26,184) (1,389) (24,705) (536) (11) (395) 77 207,920 342,205 293,528 $ 0.61 $ 0.91 $ 0.73 $ 356,900 $ 353,648 $ 252,674 $ 1.05 $ 0.94 $ 0.63 (79) (22) 19,975 (9,157) 314 1,330 (5,880) 39 2,888 19 2,511 3,254 5,089 22,214 438 121 226 374 348 1,165 (2,288) (10,704) 340 (59) $ 696969 $ (5,230) (0.02) $ 351,670 $ (2,589) 40,275 (0.01) $ 0.10 351,059 $ 292,949 $ 1.04 $ 0.93 $ 0.73 339,202 376,453 403,108 46
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