
Choice Properties Real Estate Investment Trust
TSX:CHP.UN

Income Statement
Earnings Waterfall
Choice Properties Real Estate Investment Trust
Revenue
|
1.4B
CAD
|
Cost of Revenue
|
-384.5m
CAD
|
Gross Profit
|
982.5m
CAD
|
Operating Expenses
|
-398.9m
CAD
|
Operating Income
|
583.6m
CAD
|
Other Expenses
|
-37.7m
CAD
|
Net Income
|
545.9m
CAD
|
Income Statement
Choice Properties Real Estate Investment Trust
Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense |
142
|
144
|
145
|
147
|
146
|
149
|
152
|
154
|
159
|
159
|
160
|
159
|
169
|
227
|
251
|
277
|
295
|
263
|
263
|
259
|
254
|
257
|
251
|
249
|
247
|
238
|
236
|
236
|
233
|
231
|
235
|
238
|
246
|
255
|
260
|
265
|
267
|
271
|
278
|
281
|
284
|
|
Revenue |
698
N/A
|
710
+2%
|
727
+2%
|
743
+2%
|
754
+1%
|
768
+2%
|
777
+1%
|
784
+1%
|
795
+1%
|
806
+1%
|
817
+1%
|
831
+2%
|
842
+1%
|
928
+10%
|
1 037
+12%
|
1 148
+11%
|
1 256
+9%
|
1 286
+2%
|
1 293
+1%
|
1 289
0%
|
1 291
+0%
|
1 281
-1%
|
1 267
-1%
|
1 271
+0%
|
1 272
+0%
|
1 281
+1%
|
1 288
+1%
|
1 292
+0%
|
1 294
+0%
|
1 283
-1%
|
1 276
-1%
|
1 265
-1%
|
1 261
0%
|
1 278
+1%
|
1 294
+1%
|
1 335
+3%
|
1 359
+2%
|
1 364
+0%
|
1 379
+1%
|
1 369
-1%
|
1 367
0%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(177)
|
(181)
|
(186)
|
(192)
|
(196)
|
(199)
|
(201)
|
(200)
|
(201)
|
(206)
|
(209)
|
(210)
|
(215)
|
(239)
|
(271)
|
(314)
|
(351)
|
(365)
|
(367)
|
(368)
|
(373)
|
(385)
|
(381)
|
(384)
|
(385)
|
(377)
|
(381)
|
(380)
|
(380)
|
(375)
|
(372)
|
(364)
|
(360)
|
(361)
|
(362)
|
(390)
|
(402)
|
(403)
|
(409)
|
(391)
|
(385)
|
|
Gross Profit |
521
N/A
|
529
+2%
|
542
+2%
|
551
+2%
|
558
+1%
|
569
+2%
|
576
+1%
|
583
+1%
|
594
+2%
|
601
+1%
|
608
+1%
|
621
+2%
|
627
+1%
|
689
+10%
|
766
+11%
|
834
+9%
|
905
+9%
|
921
+2%
|
927
+1%
|
920
-1%
|
917
0%
|
897
-2%
|
885
-1%
|
887
+0%
|
887
+0%
|
904
+2%
|
907
+0%
|
912
+1%
|
914
+0%
|
908
-1%
|
904
0%
|
901
0%
|
902
+0%
|
918
+2%
|
933
+2%
|
945
+1%
|
957
+1%
|
961
+0%
|
970
+1%
|
979
+1%
|
983
+0%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(24)
|
(24)
|
(23)
|
(23)
|
(23)
|
(29)
|
(28)
|
(29)
|
(29)
|
(24)
|
(23)
|
(23)
|
(18)
|
(21)
|
(26)
|
(27)
|
(35)
|
(35)
|
(34)
|
(38)
|
(37)
|
(45)
|
(45)
|
(41)
|
(41)
|
(34)
|
(34)
|
(1 199)
|
(38)
|
(40)
|
(42)
|
(175)
|
(48)
|
(51)
|
222
|
(40)
|
(371)
|
(78)
|
(1 344)
|
(133)
|
(399)
|
|
Selling, General & Administrative |
(27)
|
(28)
|
(29)
|
(31)
|
(32)
|
(39)
|
(38)
|
(40)
|
(40)
|
(35)
|
(34)
|
(35)
|
(31)
|
(37)
|
(46)
|
(50)
|
(61)
|
(62)
|
(61)
|
(62)
|
(64)
|
(72)
|
(71)
|
(67)
|
(70)
|
(62)
|
(62)
|
(61)
|
(62)
|
(61)
|
(60)
|
(62)
|
(65)
|
(67)
|
(72)
|
(75)
|
(72)
|
(72)
|
(72)
|
(79)
|
(68)
|
|
Depreciation & Amortization |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
|
Other Operating Expenses |
3
|
4
|
6
|
9
|
9
|
10
|
10
|
11
|
11
|
11
|
11
|
12
|
13
|
17
|
20
|
23
|
27
|
27
|
27
|
25
|
26
|
27
|
28
|
27
|
29
|
29
|
29
|
(1 137)
|
25
|
22
|
19
|
(112)
|
17
|
17
|
295
|
36
|
(299)
|
(5)
|
(1 271)
|
(53)
|
(330)
|
|
Operating Income |
496
N/A
|
506
+2%
|
518
+2%
|
528
+2%
|
535
+1%
|
540
+1%
|
548
+1%
|
554
+1%
|
565
+2%
|
577
+2%
|
585
+2%
|
598
+2%
|
609
+2%
|
668
+10%
|
740
+11%
|
807
+9%
|
871
+8%
|
887
+2%
|
893
+1%
|
883
-1%
|
880
0%
|
852
-3%
|
841
-1%
|
846
+1%
|
846
+0%
|
871
+3%
|
873
+0%
|
(287)
N/A
|
876
N/A
|
868
-1%
|
862
-1%
|
726
-16%
|
853
+18%
|
867
+2%
|
1 155
+33%
|
904
-22%
|
586
-35%
|
883
+51%
|
(374)
N/A
|
846
N/A
|
584
-31%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(499)
|
(319)
|
(627)
|
(684)
|
(612)
|
(1 365)
|
(986)
|
(777)
|
(632)
|
(42)
|
39
|
(193)
|
411
|
98
|
(204)
|
(16)
|
(1 616)
|
(1 178)
|
(1 467)
|
(1 457)
|
(222)
|
(530)
|
(212)
|
(395)
|
(792)
|
(636)
|
(572)
|
310
|
(400)
|
(488)
|
303
|
24
|
(225)
|
308
|
(491)
|
(108)
|
82
|
(276)
|
(118)
|
(101)
|
(39)
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(12)
|
(120)
|
(131)
|
(142)
|
(134)
|
(28)
|
(20)
|
(8)
|
(6)
|
(4)
|
(2)
|
(2)
|
0
|
0
|
0
|
0
|
(5)
|
(5)
|
(5)
|
(5)
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
39
|
39
|
39
|
0
|
|
Total Other Income |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Pre-Tax Income |
(3)
N/A
|
187
N/A
|
(109)
N/A
|
(155)
-43%
|
(77)
+50%
|
(825)
-972%
|
(438)
+47%
|
(223)
+49%
|
(66)
+70%
|
535
N/A
|
625
+17%
|
405
-35%
|
1 008
+149%
|
646
-36%
|
405
-37%
|
650
+60%
|
(879)
N/A
|
(319)
+64%
|
(594)
-86%
|
(582)
+2%
|
652
N/A
|
318
-51%
|
627
+97%
|
449
-28%
|
54
-88%
|
234
+334%
|
301
+28%
|
22
-93%
|
472
+2 012%
|
375
-20%
|
1 159
+209%
|
744
-36%
|
628
-16%
|
1 175
+87%
|
663
-44%
|
797
+20%
|
668
-16%
|
646
-3%
|
(453)
N/A
|
783
N/A
|
545
-30%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
1
|
1
|
1
|
2
|
0
|
2
|
2
|
2
|
2
|
1
|
1
|
1
|
1
|
0
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
1
|
1
|
|
Income from Continuing Operations |
(3)
|
187
|
(109)
|
(155)
|
(77)
|
(825)
|
(438)
|
(223)
|
(66)
|
535
|
625
|
405
|
1 008
|
646
|
405
|
650
|
(880)
|
(320)
|
(594)
|
(581)
|
654
|
319
|
627
|
451
|
56
|
236
|
303
|
23
|
472
|
376
|
1 160
|
744
|
628
|
1 176
|
663
|
797
|
668
|
646
|
(453)
|
784
|
546
|
|
Income to Minority Interest |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
(1)
|
(1)
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Net Income (Common) |
(3)
N/A
|
187
N/A
|
(109)
N/A
|
(155)
-43%
|
(77)
+50%
|
(825)
-972%
|
(438)
+47%
|
(223)
+49%
|
(66)
+70%
|
535
N/A
|
625
+17%
|
404
-35%
|
1 007
+149%
|
645
-36%
|
404
-37%
|
650
+61%
|
(880)
N/A
|
(320)
+64%
|
(594)
-85%
|
(581)
+2%
|
654
N/A
|
319
-51%
|
627
+96%
|
451
-28%
|
56
-88%
|
236
+323%
|
303
+28%
|
23
-92%
|
472
+1 952%
|
376
-20%
|
1 160
+209%
|
744
-36%
|
628
-16%
|
1 176
+87%
|
663
-44%
|
797
+20%
|
668
-16%
|
646
-3%
|
(453)
N/A
|
784
N/A
|
546
-30%
|
|
EPS (Diluted) |
0
N/A
|
0.47
N/A
|
-0.26
N/A
|
-0.39
-50%
|
-0.18
+54%
|
-2.04
-1 033%
|
-1.09
+47%
|
-0.55
+50%
|
-0.17
+69%
|
1.31
N/A
|
1.52
+16%
|
0.99
-35%
|
1.89
+91%
|
1.12
-41%
|
0.6
-46%
|
1.11
+85%
|
-1.31
N/A
|
-0.46
+65%
|
-0.84
-83%
|
-0.84
N/A
|
0.94
N/A
|
0.45
-52%
|
0.89
+98%
|
0.64
-28%
|
0.07
-89%
|
0.33
+371%
|
0.41
+24%
|
0.03
-93%
|
0.65
+2 067%
|
0.52
-20%
|
1.6
+208%
|
1.03
-36%
|
0.87
-16%
|
1.62
+86%
|
0.92
-43%
|
1.1
+20%
|
0.92
-16%
|
0.89
-3%
|
-0.63
N/A
|
1.08
N/A
|
0.75
-31%
|