Below is a reconciliation of FFO and MFFO to net income as reported in the Company's 10K and 10Q reports:
| (in thousands, except per share amounts) | 2012¹ | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 |
|---|---|---|---|---|---|---|---|---|
| Net income | $5,530 | $25,013 | $28,318 | $20,713 | $38,063 | $33,233 | $3,438 | $(53) |
| Depreciation of real estate owned | 8,565 | 34,160 | 33,174 | 32,425 | 28,434 | 16,990 | 3,073 | - |
| Funds from operations | $14,095 | $59,173 | $61,492 | $53,138 | $66,497 | $50,223 | $6,511 | $(53) |
| Gain from settlement of a contingency | - | - | (3,099) | - | - | - | - | - |
| Modified funds from operations | $14,095 | $59,173 | $58,393 | $53,138 | $66,497 | $50,223 | $6,511 | $(53) |
| Weighted-average common shares outstanding | 90,959 | 91,435 | 92,627 | 93,472 | 92,637 | 70,763 | 15,152 | - |
| Net income per share | $0.06 | $0.27 | $0.31 | $0.22 | $0.41 | $0.47 | $0.23 | - |
| FFO per share | $0.15 | $0.65 | $0.66 | $0.57 | $0.72 | $0.71 | $0.43 | - |
| MFFO per share | $0.15 | $0.65 | $0.63 | $0.57 | $0.72 | $0.71 | $0.43 | - |
¹Year-to-date through March 31, 2012