Company: LXP
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000910108-25-000020
Chunk: 40

Company: LXP Industrial Trust
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 40
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,FUNDS FROM OPERATIONS:20252024Basic and Diluted:Net income (loss) attributable to common shareholders$17,279 $(1,931)Adjustments:Depreciation and amortization - real estate48,822 46,208 Amortization of leasing commissions1,690 1,301 Joint venture and noncontrolling interest adjustment1,207 1,563 Gain on sale of real estate(24,635)— FFO available to common shareholders - basic44,363 47,141 Preferred dividends1,572 1,572 Amount allocated to participating securities127 90 FFO available to all equityholders - diluted46,062 48,803 Allowance for credit losses— (5)Loss on debt satisfaction350 — Adjusted Company FFO available to all equityholders - diluted$46,412 $48,798 

Per Common Share AmountsBasic:FFO$0.15 $0.16 Diluted:    FFO$0.16 $0.16 Adjusted Company FFO$0.16 $0.16 

Weighted-Average Common Shares:Basic:Weighted-average common shares outstanding - basic EPS291,706,064 291,288,383 Diluted:Weighted-average common shares outstanding - diluted EPS292,298,271 291,288,383 Preferred shares - Series C4,710,570 4,710,570 Weighted-average common shares outstanding - diluted FFO297,008,841 295,998,953 

31

Off-Balance Sheet Arrangements

As of March 31, 2025, we had investments in various real estate entities with varying structures. The real estate investments owned by our institutional joint ventures are generally financed with non-recourse debt. Non-recourse debt is generally defined as debt whereby the lenders' sole recourse with respect to borrower defaults is limited to the value of the assets collateralized by the debt. The lender generally does not have recourse against any other assets owned by the borrower or any of the members or partners of the borrower, except for certain specified exceptions listed in the particular loan documents. These exceptions generally relate to “bad boy” acts, including fraud, prohibited transfers and breaches of material representations, and environmental matters. We have guaranteed such obligations for certain of our non-consolidated entities with respect to $432.3 million of such non-recourse debt