FFO (Funds From Operations) is a non-GAAP measure of performance commonly used by publicly traded real estate companies, including the majority of the company¹s peers, and is defined by the National Association of Real Estate Investment Trusts (NAREIT). FFO provides supplemental information about the company's operations. Although not presented in accordance with GAAP, the company believes it is important
to understand its business and operating results, along with net earnings, the most comparable GAAP measure, and to effectively evaluate the company¹s results relative to peers.
For more information on FFO and for a reconciliation of FFO to net earnings, the most comparable GAAP measure, please see the Supplemental Packages available in the Financial Reports section of this Web site.