The following is an analysis of the controlling and non-controlling interest from
December 31, 2013 to December 31, 2014:
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Controlling
Interest |
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|
Non-Controlling
Interest Holders |
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|
Total |
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(amounts in
million) |
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Total Equity by Interest Holders—
December 31, 2013
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$ |
146.5 |
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|
$ |
4.1 |
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|
$ |
150.6 |
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Net income attributable to interest holders
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|
9.6 |
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|
0.2 |
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|
9.8 |
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Issuance of common stock
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|
129.4 |
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|
— |
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|
129.4 |
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Redemption of OP units
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|
(0.6 |
) |
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|
(1.2 |
) |
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|
(1.8 |
) |
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Repurchase of common stock
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|
(0.2 |
) |
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|
— |
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(0.2 |
) |
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Equity-based
compensation
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|
5.1 |
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|
0.1 |
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5.2 |
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Distributions
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|
(20.8 |
) |
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|
(0.3 |
) |
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|
(21.1 |
) |
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Change in accumulated other comprehensive income
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|
0.3 |
|
|
|
— |
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|
0.3 |
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Tax basis difference on contributed asset
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|
1.8 |
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|
1.8 |
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Redemption value change for non-controlling interest redeemable for
cash
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|
(1.8 |
) |
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|
1.8 |
|
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|
— |
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Total Equity by Interest Holders— December 31,
2014
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|
$ |
269.3 |
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|
$ |
4.7 |
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|
$ |
274.0 |
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The following is an analysis of the controlling and non-controlling
interest from April 23, 2013, the date of our IPO, to
December 31, 2013:
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| |
|
Controlling
Interest |
|
|
Non-Controlling
Interest Holders |
|
|
Total |
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| |
|
(amounts in
millions) |
|
|
Equity immediately after IPO (1)
|
|
$ |
161.8 |
|
|
$ |
— |
|
|
$ |
161.8 |
|
|
Establishment of non-controlling interest during formation
transaction
|
|
|
(4.4 |
) |
|
|
4.4 |
|
|
|
— |
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|
Net loss attributable to interest holders
|
|
|
(10.5 |
) |
|
|
(0.3 |
) |
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|
(10.8 |
) |
|
Equity-based compensation
|
|
|
6.9 |
|
|
|
0.2 |
|
|
|
7.1 |
|
|
Distributions
|
|
|
(6.9 |
) |
|
|
(0.2 |
) |
|
|
(7.1 |
) |
|
Issuance (repurchase) of vested equity-based shares and other
adjustments post IPO
|
|
|
(0.4 |
) |
|
|
— |
|
|
|
(0.4 |
) |
|
Change in accumulated other comprehensive income
|
|
|
— |
|
|
|
— |
|
|
|
— |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Equity by Interest Holders— December 31,
2013
|
|
$ |
146.5 |
|
|
$ |
4.1 |
|
|
$ |
150.6 |
|
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| (1) |
Amount includes net proceeds of
approximately $9.5 million received by us upon the exercise by the
underwriters of their option to purchase an additional 818,356
shares of common stock on May 23, 2013. |
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