Earnings Estimates

Funds Available for Distribution (FAD) represents Funds from Operations (FFO) adjusted for non-real estate depreciation and the effect of straight-line rent, less capital investments in property.

Funds From Operations (FFO) – REIT represents, according to the National Association of Real Estate Investment Trusts, Inc. (NAREIT), net income computed in accordance with Generally Accepted Accounting Principals (GAAP), excluding gains (or losses) from debt restructuring and sales of property, plus depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. Funds From Operations – REIT is always found in the notes.

Gain (Loss) on Sale of Assets represents gains/losses on sale of fixed assets that have been used for operations. Gain (Loss) on Sale of Assets also represents the gains/losses on a large stake of holdings in an investee as long-term investment.

GARP (Growth at a Reasonable Price) investors try and build their portfolios with two types of securities: 1) those that are trading at a discount to the market or their peers yet are expected to grow at higher than the market average or their peers, and 2) those whose forward PE ratio is less than, equal to, or only slightly above the long term projected growth of the company. Stated another common way, GARP investors will often say they are either looking at large cap stocks whose PEG ratio (forward PE divided by 5 year projected Growth) is less than the S&P 500 or at any sized company whose PEG ratio is less than 1. This is a more conservative investment style in comparison to an outright growth-oriented strategy. In addition, dividend yield is generally not a concern of most GARP investors.

Gas in Storage – Inventory represents gas in storage as inventory for gas utility companies. Gas in storage may also include gas in transit, when gas is transported either through a gas pipeline or by gas tankers.

Gas Liquids Production (Barrels) represents the total production of gas liquids in barrels.

Gas Liquids, Average Production (Barrels/Day) represents the average production of gas liquids on daily basis, in barrels.

Gas Liquids, Average Sales Price per Barrel, Total represents the Company level Average Sales Price of Gas Liquids per barrel, as reported by the company.

Gas Operations includes revenue from the sale of gas through local distribution establishments, which is regulated by local authorities. It also includes service charges related to gas distribution.

General & Administration Ratio, Total - % represents the Company level General & Administration Ratio, as reported by the company. It is obtained using the total General and Administration costs incurred by the company, divided by the total revenues earned. It shows the percentage of total revenues that are used to administer the health plan, and is a measure of the efficiency of the company.