filings.toolsItem 6. SELECTED FINANCIAL DATA
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Item 6. SELECTED FINANCIAL DATA
The selected data set forth below under the captions “Selected Statement of Operations Data” and “Summary Balance Sheet Data” for or as of each of the years in the four year period ended December 31, 2017 are derived from our audited consolidated financial statements. Our consolidated balance sheets as of December 31, 2017 and 2016 and consolidated statements of operations for each of the years in the three year period ended December 31, 2017 are included in Part IV. Item 15. “Exhibits and Financial Statement Schedules" of this Annual Report on Form 10-K.
On November 16, 2017, we consummated the Mergers with SWH; and since the Merger Date, the results of operations from the Legacy SWH portfolio of homes have contributed to our growth. The selected consolidated financial data should be read in conjunction with Part II. Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our historical consolidated financial statements, including the related notes, included in this Annual Report on Form 10-K.
| ($ in thousands, except per share data) | For the Years Ended December 31, | |||||||||||||||
| Selected Statement of Operations Data: | 2017 | 2016 | 2015 | 2014 | ||||||||||||
| Total revenues | $ | 1,054,456 | $ | 922,587 | $ | 836,049 | $ | 658,722 | ||||||||
| Total operating expenses | 936,249 | 731,810 | 721,672 | 690,545 | ||||||||||||
| Operating income | 118,207 | 190,777 | 114,377 | (31,823 | ) | |||||||||||
| Total other expenses | (257,929 | ) | (287,606 | ) | (276,857 | ) | (237,803 | ) | ||||||||
| Loss from continuing operations | (139,722 | ) | (96,829 | ) | (162,480 | ) | (269,626 | ) | ||||||||
| Gain on sale of property, net of tax | 33,896 | 18,590 | 2,272 | (235 | ) | |||||||||||
| Net loss attributable to non-controlling interests | 489 | — | — | — | ||||||||||||
| Net loss attributable to common shareholders | $ | (105,337 | ) | $ | (78,239 | ) | $ | (160,208 | ) | $ | (269,861 | ) | ||||
| February 1, 2017 through December 31, 2017(1) | ||||||||||||||||
| Net loss available to common shareholders — basic and diluted | $ | (89,073 | ) | |||||||||||||
| Weighted average common shares outstanding — basic and diluted | 339,423,442 | |||||||||||||||
| Net loss per common share — basic and diluted | $ | (0.26 | ) | |||||||||||||
| Dividends declared per common share | $ | 0.22 |
| (1) | Prior to the IPO, our business was conducted through the IH Holding Entities, which did not have a common capital structure upon which to compute historical earnings per share. Accordingly, earnings per shares has not been presented for historical periods prior to the IPO. |
| ($ in thousands) | As of December 31, | |||||||||||||||
| Summary Balance Sheet Data: | 2017 | 2016 | 2015 | 2014 | ||||||||||||
| Investments in single-family residential properties, net | $ | 17,312,264 | $ | 9,002,515 | $ | 9,052,701 | $ | 8,488,553 | ||||||||
| Cash and cash equivalents | 179,878 | 198,119 | 274,818 | 285,596 | ||||||||||||
| Other assets, net | 1,191,496 | 531,717 | 469,459 | 425,504 | ||||||||||||
| Total assets | $ | 18,683,638 | $ | 9,732,351 | $ | 9,796,978 | $ | 9,199,653 | ||||||||
| Total debt | $ | 9,651,662 | $ | 7,570,279 | $ | 7,725,957 | $ | 6,564,643 | ||||||||
| Other liabilities | 382,101 | 204,649 | 183,990 | 178,409 | ||||||||||||
| Total liabilities | 10,033,763 | 7,774,928 | 7,909,947 | 6,743,052 | ||||||||||||
| Total equity | 8,649,875 | 1,957,423 | 1,887,031 | 2,456,601 | ||||||||||||
| Total liabilities and equity | $ | 18,683,638 | $ | 9,732,351 | $ | 9,796,978 | $ | 9,199,653 |
Previous: Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES · Next: Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS