Company: FRT-PC
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000034903-25-000016
Chunk: 78

Company: FEDERAL REALTY INVESTMENT TRUST
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 78
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 Net income attributable to noncontrolling interests(9,126)(10,232)(10,170)Gain on deconsolidation of a VIE— — (70,374)Gain on sale of real estate (54,040)(9,881)(93,483)Depreciation and amortization of real estate assets302,455 285,689 266,741 Amortization of initial direct costs of leases33,377 31,208 27,268 Funds from operations577,000 544,001 515,643 Dividends on preferred shares (1)(7,500)(7,500)(7,500)Income attributable to downREIT operating partnership units2,743 2,767 2,810 Income attributable to unvested shares(2,004)(1,955)(1,797)Funds from operations available for common shareholders$570,239 $537,313 $509,156 Weighted average number of common shares, diluted (1)(2)84,286 82,044 80,603 Funds from operations available for common shareholders, per diluted share$6.77 $6.55 $6.32 

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46

(1)For the years ended December 31, 2024, 2023 and 2022, dividends on our Series 1 preferred stock were not deducted in the calculation of FFO available to common shareholders, as the related shares were dilutive and included in "weighted average number of common shares, diluted."

(2)The weighted average common shares used to compute FFO per diluted common share includes downREIT operating partnership units that were excluded from the computation of diluted EPS. Conversion of these operating partnership units is dilutive in the computation of FFO per diluted common share but is anti-dilutive for the computation of diluted EPS for 2024 and 2023.