Company: LXP
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000910108-25-000020
Chunk: 101

Company: LXP Industrial Trust
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 2
Chunk 101
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 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.

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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 months ended March 31, 2025 and 2024 (unaudited and dollars in thousands, except share and per share amounts): 

Three Months Ended March 31,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 

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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