Company: SLG-PI
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001040971-25-000031
Chunk: 148

Company: SL GREEN REALTY CORP
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 148
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FFO for the three and six months ended June 30, 2025 and 2024 are as follows (in thousands):

Three Months Ended June 30,Six Months Ended June 30,2025202420252024Net (loss) income attributable to SL Green common stockholders$(11,092)$(2,160)$(32,167)$10,981 Add:Depreciation and amortization60,160 52,247 124,658 100,831 Joint venture depreciation and noncontrolling interest adjustments68,003 72,238 121,364 146,496 Net loss attributable to noncontrolling interests(1,615)(2,024)(7,977)(2,417)Less:Equity in net (loss) gain on sale of interest in unconsolidated joint venture/real estate(1,946)(8,129)(1,946)18,635 Purchase price and other fair value adjustments(8,399)(50)(14,943)(55,702)Loss on sale of real estate, net(167)(2,741)(649)(2,741)Depreciable real estate reserves and impairment— (13,721)(8,546)(65,839)Depreciable real estate reserves in unconsolidated joint venture— — (1,780)— Depreciation on non-rental real estate assets1,421 1,000 2,684 2,153 Funds from Operations attributable to SL Green common stockholders and unit holders$124,547 $143,942 $231,058 $359,385 

Seasonality

Our business at SUMMIT is subject to tourism trends and weather conditions, resulting in seasonal fluctuation. In 2024, approximately 19.0% of our annual SUMMIT revenue was realized in the first quarter, 26.0% was realized in the second quarter, 28.0% was realized in the third quarter, and 27.0% was realized in the fourth quarter. We do not consider any other components of our business to be subject to material seasonal fluctuations.

Accounting Standards Updates

The Accounting Standards Updates are discussed in Note 2, "Significant Accounting Policies Accounting Standards Updates" in the accompanying consolidated financial statements.

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Forward-Looking Information

This report includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Lit