Company: LXP
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000910108-25-000067
Chunk: 55

Company: LXP Industrial Trust
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 55
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 of net income to same-store NOI for periods presented ($000's):

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Net income$42,357 $5,613 $88,916 $9,859 Interest and amortization expense16,095 16,037 48,842 50,624 Provision for income taxes184 21 598 229 Depreciation and amortization49,120 48,387 148,994 144,243 General and administrative9,325 10,993 29,345 29,734 Transaction costs— — 38 498 Non-operating/fee income(1,696)(1,663)(4,905)(10,228)Gain on sale or disposal of, and recovery on, real estate, net(46,159)(11,050)(102,114)(19,402)Gain on change in control of a subsidiary— — — (209)Gain on debt satisfaction, net— — (793)— Equity in losses of non-consolidated entities1,239 1,158 3,177 3,444 Lease termination income, net(76)— (199)— Straight-line adjustments(1,463)(1,656)(4,490)(6,032)Lease incentives455 430 1,354 898 Amortization of above/below market leases(349)(694)(2,220)(1,600)Sales-types lease adjustments— (584)— (1,777)NOI$69,032 $66,992 $206,543 $200,281 Less NOI:Acquisitions, expansions, developments, redevelopments and dispositions(6,315)(5,530)(18,181)(19,080)Same-Store NOI$62,717 $61,462 $188,362 $181,201 

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