Company: INRE
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0000950170-25-033568
Chunk: 264

Company: Inland Real Estate Income Trust, Inc.
Filing Date: 2025-03-05
Form: 10-K
Item: Item 6
Chunk 264
---
 income: acquisition fees and expenses; amounts relating to straight-line rents and amortization of above and below market lease assets and liabilities, accretion of discounts and amortization of premiums on debt investments; mark-to-market adjustments included in net income; nonrecurring gains or losses included in net income from the extinguishment or sale of debt, hedges, foreign exchange, derivatives or securities holdings where trading of such holdings is not a fundamental attribute of the business plan, unrealized gains or losses resulting from consolidation from, or deconsolidation to, equity accounting, and after adjustments for consolidated and unconsolidated partnerships and joint ventures, with such adjustments calculated to reflect MFFO on the same basis.

Our presentation of FFO and MFFO may not be comparable to other similarly titled measures presented by other REITs. We believe that the use of FFO and MFFO provides a more complete understanding of our operating performance to stockholders and to management, and when compared year over year, reflects the impact on our operations from trends in occupancy rates, rental rates, operating costs, general and administrative expenses, and interest costs. Neither FFO nor MFFO is intended to be an alternative to “net income” or to “cash flows from operating activities” as determined by GAAP as a measure of our capacity to pay distributions. Management uses FFO and MFFO to compare our operating performance to that of other REITs and to assess our operating performance.

48

Our FFO and MFFO for the years ended December 31, 2024, 2023 and 2022 are calculated as follows (Dollar amounts in thousands):

    For the year ended December 31,

    2024
     
    2023
     
    2022

    Net loss
    $
    (14,978
    )
    $
    (15,123
    )
    $
    (12,618
    )

    Add:
     
    Depreciation and amortization related to investment properties
     
    60,809

    59,542

    55,319

    Funds from operations (FFO)
     
    45,831

    44,419

    42,701

    Less:
     
    Amortization of acquired lease intangibles, net
     
    72

    (2,323
    )
     
    (818
    )

    Straight-line income (expense), net