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 five year period ended December 31, 2019 are derived from our audited consolidated financial statements. Our consolidated balance sheets as of December 31, 2019 and 2018 and consolidated statements of operations for each of the years in the three year period ended December 31, 2019 are included in Part IV. Item 15. “Exhibits and Financial Statement Schedules.”
On November 16, 2017, we added 34,670 homes to our portfolio and issued 207,448,958 shares of common stock in connection with the Mergers. As a result, the Mergers have contributed to growth in results of operations and increases in total assets and total liabilities and equity. 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: | 2019 | 2018 | 2017 | 2016 | 2015 | |||||||||||||||
| Rental revenues and other property income | $ | 1,764,685 | $ | 1,722,962 | $ | 1,054,456 | $ | 922,587 | $ | 836,049 | ||||||||||
| Total expenses | 1,725,510 | 1,784,615 | 1,193,219 | 1,017,858 | 995,408 | |||||||||||||||
| Other, net | 11,600 | 6,958 | (959 | ) | (1,558 | ) | (3,121 | ) | ||||||||||||
| Gain on sale of property, net of tax | 96,336 | 49,682 | 33,896 | 18,590 | 2,272 | |||||||||||||||
| Net income (loss) | 147,111 | (5,013 | ) | (105,826 | ) | (78,239 | ) | (160,208 | ) | |||||||||||
| Net (income) loss attributable to non-controlling interests | (1,648 | ) | 86 | 489 | — | — | ||||||||||||||
| Net income (loss) attributable to common stockholders | $ | 145,463 | $ | (4,927 | ) | $ | (105,337 | ) | $ | (78,239 | ) | $ | (160,208 | ) | ||||||
| For the Year Ended December 31, 2019 | For the Year Ended December 31, 2018 | February 1, 2017 through December 31, 2017**(1)** | ||||||||||||||||||
| Net income (loss) available to common stockholders — basic and diluted | $ | 145,068 | $ | (5,744 | ) | $ | (89,073 | ) | ||||||||||||
| Weighted average common shares outstanding — basic | 531,235,962 | 520,376,929 | 339,423,442 | |||||||||||||||||
| Weighted average common shares outstanding — diluted | 532,499,787 | 520,376,929 | 339,423,442 | |||||||||||||||||
| Net income (loss) per common share — basic | $ | 0.27 | $ | (0.01 | ) | $ | (0.26 | ) | ||||||||||||
| Net income (loss) per common share — diluted | $ | 0.27 | $ | (0.01 | ) | $ | (0.26 | ) | ||||||||||||
| Dividends declared per common share | $ | 0.52 | $ | 0.44 | $ | 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: | 2019 | 2018 | 2017 | 2016 | 2015 | |||||||||||||||
| Investments in single-family residential properties, net | $ | 16,243,192 | $ | 16,686,060 | $ | 17,312,264 | $ | 9,002,515 | $ | 9,052,701 | ||||||||||
| Cash and cash equivalents | 92,258 | 144,940 | 179,878 | 198,119 | 274,818 | |||||||||||||||
| Other assets, net | 1,057,460 | 1,232,428 | 1,191,496 | 531,717 | 469,459 | |||||||||||||||
| Total assets | $ | 17,392,910 | $ | 18,063,428 | $ | 18,683,638 | $ | 9,732,351 | $ | 9,796,978 | ||||||||||
| Total debt | $ | 8,467,485 | $ | 9,249,815 | $ | 9,651,662 | $ | 7,570,279 | $ | 7,725,957 | ||||||||||
| Other liabilities | 659,347 | 444,427 | 382,101 | 204,649 | 183,990 | |||||||||||||||
| Total liabilities | 9,126,832 | 9,694,242 | 10,033,763 | 7,774,928 | 7,909,947 | |||||||||||||||
| Total equity | 8,266,078 | 8,369,186 | 8,649,875 | 1,957,423 | 1,887,031 | |||||||||||||||
| Total liabilities and equity | $ | 17,392,910 | $ | 18,063,428 | $ | 18,683,638 | $ | 9,732,351 | $ | 9,796,978 |
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