Slate Office REIT
TSX:SOT.UN
Income Statement
Earnings Waterfall
Slate Office REIT
Revenue
|
197.6m
CAD
|
Cost of Revenue
|
-110m
CAD
|
Gross Profit
|
87.6m
CAD
|
Operating Expenses
|
-15.1m
CAD
|
Operating Income
|
72.5m
CAD
|
Other Expenses
|
-185.6m
CAD
|
Net Income
|
-113.1m
CAD
|
Income Statement
Slate Office REIT
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | 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 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
28
N/A
|
31
+7%
|
32
+4%
|
32
+1%
|
33
+2%
|
39
+18%
|
45
+16%
|
67
+47%
|
88
+32%
|
101
+15%
|
115
+14%
|
117
+2%
|
122
+4%
|
127
+4%
|
135
+6%
|
145
+7%
|
152
+5%
|
164
+8%
|
180
+10%
|
193
+7%
|
210
+9%
|
223
+6%
|
225
+1%
|
223
-1%
|
216
-3%
|
208
-3%
|
198
-5%
|
191
-3%
|
184
-4%
|
177
-4%
|
174
-2%
|
172
-1%
|
173
+1%
|
177
+3%
|
185
+4%
|
192
+4%
|
197
+2%
|
198
+1%
|
197
0%
|
197
+0%
|
198
+0%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(11)
|
(12)
|
(13)
|
(13)
|
(14)
|
(17)
|
(20)
|
(32)
|
(45)
|
(54)
|
(62)
|
(64)
|
(66)
|
(68)
|
(72)
|
(78)
|
(82)
|
(88)
|
(95)
|
(101)
|
(106)
|
(120)
|
(120)
|
(119)
|
(115)
|
(112)
|
(106)
|
(102)
|
(98)
|
(94)
|
(92)
|
(92)
|
(94)
|
(98)
|
(101)
|
(104)
|
(104)
|
(107)
|
(108)
|
(109)
|
(110)
|
|
Gross Profit |
18
N/A
|
18
+5%
|
19
+4%
|
19
+1%
|
19
0%
|
22
+15%
|
25
+14%
|
35
+38%
|
43
+23%
|
47
+11%
|
52
+11%
|
53
+1%
|
56
+6%
|
58
+4%
|
63
+7%
|
67
+7%
|
70
+4%
|
76
+9%
|
85
+11%
|
93
+10%
|
104
+12%
|
103
-1%
|
105
+2%
|
105
0%
|
101
-4%
|
96
-5%
|
92
-4%
|
90
-3%
|
86
-4%
|
83
-3%
|
82
-2%
|
80
-2%
|
79
-2%
|
79
+1%
|
83
+5%
|
88
+5%
|
92
+5%
|
91
-2%
|
89
-2%
|
88
-1%
|
88
-1%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(6)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(8)
|
(8)
|
(8)
|
(9)
|
(9)
|
(8)
|
(9)
|
(9)
|
(9)
|
(10)
|
(10)
|
(11)
|
(11)
|
(12)
|
(12)
|
(11)
|
(11)
|
(10)
|
(10)
|
(10)
|
(10)
|
(10)
|
(10)
|
(10)
|
(10)
|
(10)
|
(11)
|
(11)
|
(12)
|
(13)
|
(17)
|
(18)
|
(17)
|
(15)
|
|
Selling, General & Administrative |
(2)
|
(2)
|
(2)
|
(2)
|
(4)
|
(4)
|
(4)
|
(5)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(4)
|
(4)
|
(4)
|
(5)
|
(5)
|
(6)
|
(6)
|
(7)
|
(7)
|
(7)
|
(7)
|
(6)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(8)
|
(10)
|
(12)
|
(13)
|
(14)
|
(12)
|
|
Other Operating Expenses |
(4)
|
(4)
|
(5)
|
(6)
|
(3)
|
(3)
|
(3)
|
(3)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(4)
|
(4)
|
(4)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(4)
|
(4)
|
(4)
|
(3)
|
(3)
|
|
Operating Income |
12
N/A
|
12
+1%
|
12
+3%
|
12
0%
|
13
+6%
|
15
+21%
|
18
+18%
|
27
+48%
|
35
+30%
|
39
+12%
|
44
+13%
|
45
+2%
|
48
+7%
|
50
+4%
|
54
+8%
|
58
+8%
|
60
+4%
|
66
+10%
|
74
+11%
|
81
+11%
|
92
+13%
|
91
-1%
|
94
+3%
|
94
+0%
|
91
-4%
|
86
-5%
|
82
-4%
|
80
-3%
|
76
-5%
|
73
-4%
|
71
-2%
|
70
-3%
|
68
-2%
|
68
0%
|
72
+6%
|
76
+6%
|
79
+4%
|
73
-7%
|
71
-3%
|
71
+0%
|
73
+2%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(0)
|
(8)
|
(15)
|
(11)
|
(10)
|
(16)
|
(11)
|
(18)
|
(8)
|
(9)
|
(4)
|
(7)
|
(12)
|
(9)
|
(24)
|
(8)
|
(10)
|
(16)
|
(4)
|
(17)
|
(12)
|
(14)
|
(23)
|
(11)
|
(15)
|
(32)
|
(38)
|
(50)
|
(61)
|
(25)
|
(23)
|
(28)
|
(18)
|
(4)
|
10
|
18
|
(94)
|
(126)
|
(168)
|
(222)
|
(185)
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(1)
|
0
|
0
|
0
|
1
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(2)
|
(3)
|
(10)
|
(12)
|
(12)
|
(12)
|
(6)
|
(2)
|
(2)
|
(2)
|
(0)
|
(0)
|
(1)
|
0
|
0
|
(2)
|
(1)
|
0
|
0
|
(0)
|
0
|
|
Gain/Loss on Disposition of Assets |
(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
|
|
Total Other Income |
3
|
3
|
3
|
3
|
0
|
2
|
7
|
7
|
0
|
2
|
(3)
|
(3)
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(2)
|
(1)
|
(1)
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
(1)
|
(1)
|
(2)
|
(1)
|
(1)
|
(1)
|
0
|
0
|
|
Pre-Tax Income |
14
N/A
|
7
-52%
|
1
-88%
|
4
+407%
|
3
-32%
|
2
-31%
|
14
+621%
|
15
+1%
|
27
+88%
|
32
+18%
|
37
+15%
|
35
-5%
|
36
+4%
|
41
+13%
|
29
-29%
|
50
+70%
|
50
-1%
|
48
-3%
|
69
+42%
|
62
-9%
|
76
+22%
|
75
-1%
|
61
-20%
|
71
+17%
|
63
-11%
|
42
-33%
|
39
-8%
|
28
-29%
|
14
-51%
|
47
+249%
|
48
+1%
|
41
-14%
|
49
+19%
|
63
+28%
|
81
+28%
|
90
+12%
|
(17)
N/A
|
(54)
-210%
|
(98)
-81%
|
(151)
-54%
|
(112)
+26%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
0
|
1
|
1
|
(0)
|
0
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
0
|
(0)
|
(1)
|
(2)
|
(3)
|
(6)
|
(7)
|
(6)
|
1
|
4
|
6
|
5
|
(1)
|
|
Income from Continuing Operations |
14
|
7
|
1
|
4
|
3
|
2
|
14
|
15
|
27
|
32
|
37
|
35
|
36
|
41
|
29
|
50
|
50
|
49
|
69
|
63
|
77
|
75
|
61
|
71
|
62
|
42
|
38
|
27
|
14
|
47
|
47
|
40
|
47
|
57
|
74
|
84
|
(17)
|
(50)
|
(92)
|
(145)
|
(113)
|
|
Income to Minority Interest |
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
|
|
Net Income (Common) |
14
N/A
|
7
-52%
|
1
-88%
|
4
+407%
|
3
-32%
|
2
-31%
|
14
+621%
|
14
+1%
|
27
+88%
|
32
+18%
|
37
+15%
|
35
-5%
|
36
+4%
|
41
+13%
|
29
-29%
|
50
+70%
|
50
-1%
|
49
-1%
|
69
+41%
|
63
-9%
|
77
+22%
|
75
-3%
|
61
-19%
|
71
+16%
|
62
-12%
|
42
-33%
|
38
-9%
|
27
-29%
|
14
-49%
|
47
+247%
|
47
0%
|
40
-16%
|
47
+18%
|
57
+22%
|
74
+30%
|
84
+13%
|
(17)
N/A
|
(50)
-200%
|
(92)
-85%
|
(145)
-58%
|
(113)
+22%
|
|
EPS (Diluted) |
1.02
N/A
|
0.75
-26%
|
0.07
-91%
|
0.35
+400%
|
0.17
-51%
|
0.13
-24%
|
0.46
+254%
|
0.47
+2%
|
0.98
+109%
|
0.9
-8%
|
1.03
+14%
|
0.84
-18%
|
0.92
+10%
|
0.89
-3%
|
0.51
-43%
|
0.8
+57%
|
0.87
+9%
|
0.8
-8%
|
0.92
+15%
|
0.84
-9%
|
1.07
+27%
|
1
-7%
|
0.82
-18%
|
0.95
+16%
|
0.84
-12%
|
0.61
-27%
|
0.55
-10%
|
0.39
-29%
|
0.19
-51%
|
0.64
+237%
|
0.69
+8%
|
0.58
-16%
|
0.64
+10%
|
0.72
+13%
|
0.86
+19%
|
0.99
+15%
|
-0.21
N/A
|
-0.62
-195%
|
-1.17
-89%
|
-1.81
-55%
|
-1.41
+22%
|