Company: LXP
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000910108-25-000041
Chunk: 56

Company: LXP Industrial Trust
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 1
Chunk 56
---
 or loss.

Because of the differences between FFO, Adjusted Company FFO, NOI and GAAP net income or loss, FFO, Adjusted Company FFO and NOI may not be accurate indicators of our operating performance, especially during periods in which we are acquiring and selling properties. In addition, FFO, Adjusted Company FFO and NOI are not necessarily indicative of cash flow available to fund cash needs and investors should not consider FFO, Adjusted Company FFO or NOI as alternatives to cash flows from operations, as an indication of our liquidity or as indicative of funds available to fund our cash needs, including our ability to make distributions to our shareholders.

Neither the SEC nor any other regulatory body has passed judgment on the acceptability of the adjustments that we use to calculate FFO, Adjusted Company FFO and NOI. Also, because not all companies calculate FFO, Adjusted Company FFO and NOI the same way, comparisons with other companies’ measures with similar titles may not be meaningful.

32

The following presents a reconciliation of net income attributable to common shareholders to FFO available to common shareholders and Adjusted Company FFO available to all equityholders for the three and six months ended June 30, 2025 and 2024 (unaudited and dollars in thousands, except share and per share amounts): 

Three Months Ended June 30,Six Months Ended June 30,FUNDS FROM OPERATIONS:2025202420252024Basic and Diluted:Net income attributable to common shareholders$27,450 $3,775 $44,729 $1,844 Adjustments:Depreciation and amortization - real estate47,725 46,937 96,547 93,145 Amortization of leasing commissions1,637 1,410 3,327 2,711 Joint venture and noncontrolling interest adjustment1,206 1,540 2,412 3,103 Gain on sale or disposal of, and recovery on, real estate, net(31,320)(8,635)(55,955)(8,635)Gain on change in control of a subsidiary— (209)— (209)FFO available to common shareholders - basic46,698 44,818 91,060 91,959 Preferred dividends1,573 1,573 3,145 3,145 Amount allocated to participating securities109 78 236 168 FFO available to all equityholders