.2
PARKWAY, INC.
UNAUDITED PRO FORMA COMBINED STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2015
(In thousands, except per share data)
(Unaudited)
| Revenues |
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| Income from office properties |
$ | 276,861 | ||
| Management company income |
9,891 | |||
| Sale of condominium units |
11,063 | |||
|
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|
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| Total revenues |
297,815 | |||
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|
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| Expenses |
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| Property operating expenses |
119,547 | |||
| Management company expenses |
9,362 | |||
| Cost of sales - condominium units |
11,120 | |||
| Depreciation and amortization |
93,253 | |||
| General and administrative |
12,664 | |||
|
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|
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| Total expenses |
245,946 | |||
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|
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| Operating income |
51,869 | |||
| Other income and expenses |
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| Interest and other income |
1 | |||
| Interest expense |
(31,861 | ) | ||
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|
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| Income (loss) before income taxes |
20,009 | |||
| Income tax expense |
(1,635 | ) | ||
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| Net income (loss) |
18,374 | |||
| Net (income) loss attributable to noncontrolling interests |
(344 | ) | ||
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|
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| Net income (loss) attributable to controlling interests |
18,030 | |||
| Dividends on non-voting preferred stock |
(300 | ) | ||
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| Net income (loss) attributable to common stockholders |
17,730 | |||
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|
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| Weighted average shares outstanding - Basic |
404,245 | |||
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|
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| Weighted average shares outstanding - Diluted |
412,114 | |||
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|
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| Basic and diluted earnings per share |
$ | 0.04 | ||
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