FFO definition

FFO means “funds from operations,” defined to mean, without duplication for any period, Income from Operations, plus (i) Borrower’s Share of Income from Operations of any Investment Affiliate (plus Borrower’s Share of real estate depreciation and amortization expenses of Investment Affiliates), plus (ii) real estate depreciation and amortization expense for such period.

FFO means “funds from operations,” defined to mean net income (or loss) (computed in accordance with GAAP), excluding gains (or losses) from debt restructurings and sales of properties, plus depreciation and amortization, after adjustments for Minority Holdings. Adjustments for Minority Holdings will be calculated to reflect FFO on the same basis as above.

FFO means profit for the period, excluding: (i) gain on sale of investment property and (ii) gain on revaluation of investment property.

Examples of FFO in a sentence

• In calculating the amounts as defined in each of the terms “Excess” and “Shortfall”, each of subsections (ii), (iii), (iv), and (v) in the respective definition of such terms, shall be a positive number if it was a deduction in calculating the Corporation’s FFO, and conversely shall be a negative number if it was an addition in calculating the Corporation’s FFO.

• For example, if straight-line rent and amortization of above/below-market leases was an addition in calculating the Corporation’s FFO, then it would be a negative number in calculating “Excess” and “Shortfall” above.

• If, upon the applicable Absolute FFO Growth Measurement Date, Absolute FFO Growth as of such date falls below the threshold level, as set forth in the Performance Matrix, no LTIP Units shall become Vested.

• Any Unreleased Shares which do not vest pursuant to Section 1 above (or which are no longer eligible to vest pursuant to this Exhibit C for any future TSR Performance Period after the completion of the FFO Performance Period or a TSR Performance Period) shall automatically and without further action be cancelled and forfeited by Participant, and Participant shall have no further right or interest in or with respect to such Unreleased Shares.

• The “FFO Performance Multiplier” means, for the FFO Performance Period, the performance multiplier determined pursuant to the chart below based on the Company’s FFO Per Share performance for such FFO Performance Period.

More Definitions of FFO

FFO means funds from operations.

FFO shall have the same meaning ascribed to that term in IRC’s annual report on Form 10-K as filed with the SEC for the year in which the bonus is to be calculated. “Total Shareholder Return” shall mean the sum of : 1) the change in the IRC stock price from January 1, 2010 to December 31, 2010 (as expressed as a percentage), plus 2) the dividend yield paid during 2010 (as expressed as a percentage by dividing dividends paid in 2010 divided by the IRC stock price as of January 1, 2010). Subject to Section II. below, if IRC achieves a Target level of performance in each of the two named criteria, the Executive’s Company performance related ACIB will equal a total of 10% of Executive’s Base Salary for the applicable year (or 5% for each of the criteria achieved).. If IRC achieves a High level of performance in each of the two named criteria, the Executive’s company performance related ACIB will equal a total of 20% of Executive’s Base Salary for the applicable year (or 10% for each of the criteria achieved). It is recognized that of the two criteria, both may not fall into the same level of performance, but rather one may be at a Target level and the other at a High level (or not achieve either level). Executive is entitled to an award for each of the three (3) performance level metric that may be achieved.

FFO shall have the same meaning ascribed to that term in IRC’s annual report on Form 10-K as filed with the SEC for the year in which the LTRS is to be calculated. . “Total Shareholder Return” shall mean the sum of : 1) the change of the IRC stock price from January 1, 2010 to December 31, 2010 (as expressed as a percentage), plus 2) the dividend yield paid during 2010 (as expressed as a percentage of dividends paid in 2010 divided by the IRC stock price as of January 1, 2010). Subject to Section II. below, if IRC achieves a Target level of performance in each of the two named criteria, the Executive’s LTRS grant will equal the number of shares equal to the quotient of (1) 14% (or 7% for each of the criteria achieved) of the Executive’s Base Salary for the applicable year, divided by (2) the average of the high and low trading price as reported by the New York Stock Exchange on the date of grant. If IRC achieves a High level of performance in each of the two named criteria, the Executive’s LTRS grant will equal the number of shares equal to the quotient of (1) 24% (or 12% for each of the criteria achieved) of the Executive’s Base Salary for the applicable year, divided by (2) the average of the high and low trading price as reported by the New York Stock Exchange on the date of grant. It is recognized that of the two criteria, both may not fall into the same level of performance, but rather one may be at a Target level and the other at a High level (or not achieve either level). Executive is entitled to an award for each of the three (3) performance level metric that may be achieved.

FFO means net income (computed in accordance with generally accepted accounting principles) excluding gains or losses from debt restructuring and sales of property, plus depreciation and amortization on real estate assets and after adjustments for unconsolidated partnerships and joint ventures.

FFO means, as of any date of determination, Net Income plus depreciation and amortization of real and personal property assets to the extent deducted in the determination of Net Income, less any amount added pursuant to clause (b) of the definition of Net Income except to the extent such amount relates to operating partnership units and is attributable to Highwoods Realty by virtue of the line item “non-controlling interests,” as shown on the consolidated income statements of the Consolidated Parties.

FFO means net income (loss) calculated in accordance with IFRS, excluding: (i) depreciation of depreciable real estate assets and amortization of customer relationships and intangible assets arising from a business combination; (ii) gains (or losses) from sales of hotel properties and equipment; (iii) deferred income tax expense (recovery); (iv) impairment losses or reversals recognized on land and depreciable real estate properties; (v) transaction costs expensed as a result of the purchase of a hotel property being accounted for as a business combination; and (vi) adjustments to certain financial instruments. FFO has been prepared consistently with the definition presented in the White Paper on funds from operations prepared by the Real Property Association of Canada for all periods presented.

FFO funds from operations, as calculated based upon the NAREIT definition in effect on the date of said calculation or in a manner consistent with Kimco’s prior reporting (with any variation from the NAREIT definition being specified in Schedule 1.1B).