Statement of Income Information 2013 2012 2011 2010 2009
Net operating income $83,040 $80,444 $76,352 $70,460 $62,606
income from home sales $323 $469 $486 $403 $234
equity income $1,296 $758 $13  $ ‑   $ ‑ 
corporate income $746 $962 $94 $547 $424
Financing costs ($35,231) ($34,633) ($34,891) ($31,610) ($30,699)
Administration ($7,878) ($8,832) ($7,672) ($7,765) ($7,045)
Gain on debt settlement  $ ‑   $ ‑   $ ‑   $ ‑  $638
Depreciation and amortization ($2,232) ($2,145) ($1,711) ($2,114) ($28,831)
Fair value gains $13,070 $37,726 $52,070 $39,098  $ ‑ 
Loss on disposition ($1,401) ($1,286)  $ ‑   $ ‑   $ ‑ 
Future tax recovery $ ‑  $ ‑   $ ‑   $ ‑  $830
Current tax expense ($1,451)  $ ‑ $ ‑ $ ‑ $ ‑
Deferred tax expense ($9,350) ($19,234) ($17,920) ($14,611)  $ ‑ 
net income (loss) $40,932 $54,229 $66,821 $54,408 ($1,843)
Net income (loss) attributable to common shareholders $39,779 $51,727 $65,965 $53,786 ($1,843)
Net income (loss) per share ‑ basic $0.74 $1.03 $1.45 $1.24 ($0.05)
Net income (loss) per share ‑ diluted $0.69 $0.97 $1.34 $1.19 ($0.05)
Funds From Operations (FFO) (2)
FFo $38,770 $36,096 $31,757 $29,036 $24,283
FFo per share $0.72 $0.72 $0.70 $0.67 $0.67
Balance Sheet Information
total assets $1,532,431 $1,443,128 $1,329,531 $1,116,333 $739,373
Total liabilities  $928,371 $854,692 $816,988 $689,292 $562,171
total equity  $604,060 $588,436 $512,543 $427,041 $177,202
Statement of Cash Flow Information
Cash provided by operating activities $39,080 $46,027 $39,291 $34,280 $26,226
Cash provided by (used in) financing activities $49,238 $43,878 $92,813 $68,855 ($300)
Cash used in investing activities ($117,366) ($76,527) ($105,673) ($97,887) ($19,299)
Share Information 
Weighted average number of shares ‑ basic  54,143 50,227 45,523 43,393 36,247
Weighted average number of shares ‑ fully diluted 64,378 58,239 52,090 47,201 36,341
shares outstanding at December 31 54,459 53,802 49,291 44,972 38,519
share price at December 31 $10.48 $12.49 $11.57 $10.45 $8.80
(1) Financial results for 2010 to 2013 are based on iFrs.  results for 2009 are based on previous canadian GaaP . 
(2) Killam changed its definition of FFO with the adoption of IFRS in 2011.  FFO and FFO per share for 2009 and 2010 have  
been adjusted to reflect this definition. 
Five‑Year Summary(1)
In thousands (except per share data)
96 Killam ProPerties inc | 2013