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CORPORATE PROPERTY ASSOCIATES 14 INC

Income Statement Business | Geographic

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-10Dec-31-09Dec-31-08Dec-31-07Dec-31-06Dec-31-05Dec-31-04Dec-31-03
   10-K10-K10-K10-K10-K10-K10-K10-K
Revenues:  
    Rental income  133.8137.0129.0138.6115.2113.4110.8108.3
    Interest income from direct financing leases  13.714.415.416.514.414.113.413.0
    Other  9.85.35.55.43.84.43.66.1
Total revenues  157.3156.6149.9160.5133.4131.9127.8127.4
            Revenue growth   [+]0.4%4.5%-6.7%20.4%1.1%3.2%0.3% 
Cost of goods sold  0.0159.30.00.00.00.0119.0128.0
Gross profit  157.3-2.7149.9160.5133.4131.98.8-0.6
            Gross margin  100.0%-1.7%100.0%100.0%100.0%100.0%6.9%-0.5%
Selling, general and administrative   [+]8.16.78.38.06.76.06.28.4
Equity in earnings         13.0
EBITDA   [+]88.7101.673.5107.780.776.214.973.7
            EBITDA margin  56.4%64.8%49.0%67.1%60.5%57.8%11.7%57.8%
Depreciation and amortization  -30.1-32.6-29.6-32.6-27.5-23.1-23.024.0
EBIT   [+]118.8134.2103.0140.3108.299.338.049.7
            EBIT margin  75.5%85.7%68.7%87.4%81.1%75.3%29.7%39.0%
Non-recurring items   [+]10.140.31.18.1   3.1
Interest expense  51.056.256.463.350.752.652.852.7
Other income (expense), net   [+]-8.8-1.4-3.3-11.0  53.839.9
Pre-tax income  48.936.242.257.957.546.738.933.8
Income taxes  -3.1-3.3-2.2-1.90.10.40.00.0
            Tax rate      0.1%0.9%0.0%0.0%
Minority interest  -2.8-1.7-2.0-1.6-2.0-2.2-1.8-1.5
Earnings from continuing ops  42.931.438.054.457.446.338.933.8
Earnings from discontinued ops  69.77.047.266.069.647.238.933.8
Net income  112.738.485.2120.4127.093.638.933.8
            Net margin  71.6%24.5%56.8%75.0%95.2%70.9%30.5%26.5%
   
Basic EPS   [+]$0.00$0.00$0.00$0.00$0.00$0.00$0.58$0.51
Diluted EPS   [+]$0.00$0.00$0.00$0.00$0.00$0.00$0.58$0.51
   
Shares outstanding (basic)   [+]86,757.587,078.588,174.987,860.170,421.468,208.267.466.6
Shares outstanding (diluted)   [+]86,757.587,078.588,174.987,860.170,421.468,208.267.466.6
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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