Company: LXP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000910108-25-000041
Chunk: 54

Company: LXP Industrial Trust
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 1
Chunk 54
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 NOI for periods presented ($000's):

Three Months Ended June 30,Six Months Ended June 30,2025202420252024Net income$28,397 $4,801 $46,559 $4,246 Interest and amortization expense16,467 17,603 32,747 34,587 Provision for income taxes199 83 414 208 Depreciation and amortization49,362 48,347 99,874 95,856 General and administrative9,630 9,248 20,020 18,741 Transaction costs38 498 38 498 Non-operating/fee income(1,719)(3,752)(3,209)(8,565)Gain on sale or disposal of, and recovery on, real estate, net(31,320)(8,352)(55,955)(8,352)Gain on change in control of a subsidiary— (209)— (209)Gain on debt satisfaction, net(1,143)— (793)— Equity in losses of non-consolidated entities958 1,005 1,938 2,286 Lease termination income, net(123)— (123)— Straight-line adjustments(2,068)(1,674)(3,027)(4,376)Lease incentives453 330 899 468 Amortization of above/below market leases(756)(457)(1,871)(906)Sales-types lease adjustments— (596)— (1,193)NOI$68,375 $66,875 $137,511 $133,289 Less NOI:Acquisitions, expansions, developments, redevelopments and dispositions(4,896)(6,270)(10,875)(12,702)Same-Store NOI$63,479 $60,605 $126,636 $120,587 

31

Funds From Operations

We believe that Funds from Operations, or FFO, which is a non-GAAP measure, is a widely recognized and appropriate measure of the performance of an equity REIT. We believe FFO is frequently used by securities analysts, investors and other interested parties in the evaluation of REITs, many of which present FFO when reporting their results. FFO is intended to exclude GAAP historical cost depreciation and amortization of real estate and related assets, which assumes that the value of real