{"component": "definition", "props": {"groups": [{"snippet": "means FFO plus acquisition and integration costs. Acquisition and integration costs are one time in nature to the specific assets purchased in the current period or pending and are expensed under IFRS. 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There is no industry standard definition of AFFO and practice is divergent across the industry. AFFO adjusts Core FFO to remove items such as equity-based compensation expense and the amortization of deferred financing costs incurred in connection with obtaining long-term debt financing, and to account for the ongoing maintenance requirements of our properties by reducing Core FFO for a capital expenditure reserve. We believe AFFO is useful to investors as a supplemental gauge of our operating performance and is useful in comparing our operating performance with other real estate investment trusts that are not as involved in the aforementioned activities.", "snippet_links": [{"key": "core-ffo", "type": "definition", "offset": [6, 14]}, {"key": "certain-adjustments", "type": "clause", "offset": [20, 39]}, {"key": "in-order-to", "type": "clause", "offset": [40, 51]}, {"key": "operating-performance", "type": "clause", "offset": [92, 113]}, {"key": "the-portfolio", "type": "clause", "offset": [117, 130]}, {"key": "definition-of", "type": "clause", "offset": [162, 175]}, {"key": "compensation-expense", "type": "definition", "offset": [287, 307]}, {"key": "costs-incurred", "type": "definition", "offset": [351, 365]}, {"key": "in-connection-with", "type": "clause", "offset": [366, 384]}, {"key": "debt-financing", "type": "definition", "offset": [405, 419]}, {"key": "account-for-the", "type": "clause", "offset": [428, 443]}, {"key": "maintenance-requirements", "type": "definition", "offset": [452, 476]}, {"key": "capital-expenditure-reserve", "type": "definition", "offset": [522, 549]}, {"key": "we-believe", "type": "clause", "offset": [551, 561]}, {"key": "real-estate-investment-trusts", "type": "clause", "offset": [707, 736]}], "samples": [{"hash": "7I35cjEhvFM", "uri": "https://s26.q4cdn.com/256909320/files/doc_financials/2021/q4/NHT-MDA-2021-V7.pdf", "label": "s26.q4cdn.com", "score": 15.0139408112, "published": false}, {"hash": "7yfsTBSzCKH", "uri": "https://s26.q4cdn.com/256909320/files/doc_financials/2023/q1/NHT-12-31-2022-MDA_Final.pdf", "label": "s26.q4cdn.com", "score": 9.6269674301, "published": false}, {"hash": "5aUq0xXjJPk", "uri": "https://s26.q4cdn.com/256909320/files/doc_financials/2022/q1/NHT-MDA-Q1-2022-v5.pdf", "label": "s26.q4cdn.com", "score": 9.1984939575, "published": false}], "size": 14, "hash": "9e5405a53825ef592426743da84e21ad", "id": 4}, {"snippet": "means cash provided by operating activities, subject to certain adjustments, which include: (i) adjustments for certain non-cash working capital items that are not considered indicative of sustainable economic cash flow available for distribution; (ii) adjustments for interest expense on the credit facilities and mortgages payable that is included in finance costs; (iii) adjustments for cash paid for interest; (iv) add backs for compensation expense related to the Corporation's deferred share incentive plan; (v) add backs for payments received under the Corporation's income support agreements and development lease arrangements; (vi) add backs for the write-off of deferred financing costs from refinancing; and (vii) other adjustments as determined by the Directors of the Corporation in their sole discretion.", "snippet_links": [{"key": "operating-activities", "type": "definition", "offset": [23, 43]}, {"key": "subject-to", "type": "definition", "offset": [45, 55]}, {"key": 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[616, 634]}, {"key": "deferred-financing-costs", "type": "clause", "offset": [672, 696]}, {"key": "other-adjustments", "type": "definition", "offset": [725, 742]}, {"key": "directors-of-the-corporation", "type": "clause", "offset": [764, 792]}, {"key": "sole-discretion", "type": "definition", "offset": [802, 817]}], "samples": [{"hash": "4BVDylAMAqe", "uri": "https://invesque.com/wp-content/uploads/2024/05/Invesque-MIC-2023-v1.pdf", "label": "Notice", "score": 14.1813821793, "published": false}, {"hash": "6Ujm6FSGwm1", "uri": "https://www.invesque.com/wp-content/uploads/2023/05/Invesque-MIC-2022-1.pdf", "label": "Notice", "score": 13.6858320236, "published": false}, {"hash": "jlNEPVQZ9Wx", "uri": "https://invesque.com/wp-content/uploads/2022/06/Invesque-MIC-2021-FINAL.pdf", "label": "Notice", "score": 13.2067079544, "published": false}], "size": 11, "hash": "d154cba2d57355ddcfd528cccf8123b1", "id": 5}, {"snippet": "means adjusted funds from operations as described under \u201cNon-Standard Measures\u201d in the REIT\u2019s MD&A for the year ended December 31, 2014, which is incorporated by reference.", "snippet_links": [{"key": "adjusted-funds-from-operations", "type": "definition", "offset": [6, 36]}, {"key": "the-reit", "type": "clause", "offset": [83, 91]}, {"key": "the-year", "type": "definition", "offset": [103, 111]}, {"key": "incorporated-by-reference", "type": "clause", "offset": [146, 171]}], "samples": [{"hash": "vJ8IrjgWRF", "uri": "https://melcorreit.ca/wp-content/uploads/2015-AIF.pdf", "label": "melcorreit.ca", "score": 8.0937709808, "published": false}, {"hash": "gLL84k9TAFd", "uri": "https://melcorreit.ca/wp-content/uploads/2014-AIF.pdf", "label": "melcorreit.ca", "score": 5.5817933083, "published": false}], "size": 10, "hash": "c392d489095d5ca65bdb43fc8c62d0b8", "id": 6}, {"snippet": "means adjusted funds from operations;", "snippet_links": [{"key": "adjusted-funds-from-operations", "type": "definition", "offset": [6, 36]}], "samples": 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Directors after discussion with the Advisor.", "snippet_links": [{"key": "net-income", "type": "definition", "offset": [6, 16]}, {"key": "holders-of-common-stock", "type": "clause", "offset": [37, 60]}, {"key": "in-accordance-with", "type": "clause", "offset": [72, 90]}, {"key": "depreciation-expense", "type": "clause", "offset": [113, 133]}, {"key": "recurring-capital-expenditures", "type": "definition", "offset": [170, 200]}, {"key": "assets-owned", "type": "clause", "offset": [220, 232]}, {"key": "sale-of-real-estate", "type": "clause", "offset": [258, 277]}, {"key": "by-the-company", "type": "clause", "offset": [278, 292]}, {"key": "the-operating-partnership", "type": "definition", "offset": [322, 347]}, {"key": "other-adjustments", "type": "definition", "offset": [365, 382]}, {"key": "without-limitation", "type": "clause", "offset": [395, 413]}, {"key": "adjustments-for", "type": "clause", "offset": [415, 430]}, {"key": "acquisition-costs", "type": "clause", "offset": [431, 448]}, {"key": "other-non", "type": "clause", "offset": [453, 462]}, {"key": "as-approved", "type": "definition", "offset": [480, 491]}, {"key": "in-good-faith", "type": "clause", "offset": [492, 505]}, {"key": "by-the-board-of-directors", "type": "clause", "offset": [506, 531]}, {"key": "a-majority", "type": "definition", "offset": [543, 553]}, {"key": "independent-directors", "type": "clause", "offset": [561, 582]}, {"key": "the-advisor", "type": "definition", "offset": [605, 616]}], "samples": [{"hash": "cQ6qQM1gwPy", "uri": "/contracts/cQ6qQM1gwPy#affo", "label": "Advisory Agreement (Parking REIT, Inc.)", "score": 29.7337436676, "published": true}, {"hash": "l8OXyCDMMXL", "uri": "/contracts/l8OXyCDMMXL#affo", "label": "Merger Agreement (MVP REIT, Inc.)", "score": 28.4113616943, "published": true}, {"hash": "ighhrS0GMX4", "uri": "/contracts/ighhrS0GMX4#affo", "label": "Advisory Agreement (MVP REIT II, Inc.)", "score": 28.4113616943, "published": true}], "size": 4, "hash": "db77a052bdb81dd7c3b4d6f1f84e3cf7", "id": 9}, {"snippet": "means adjusted funds from operations, as more particularly described under \u201cNon-IFRS and Other Financial Measures\u201d;", "snippet_links": [{"key": "adjusted-funds-from-operations", "type": "definition", "offset": [6, 36]}, {"key": "financial-measures", "type": "clause", "offset": [95, 113]}], "samples": [{"hash": "iVVnQ44es0W", "uri": "https://media.minto.com/doc/investor_relation_report_file/187_Annual%20Information%20Form%20for%20the%20Year%20Ended%20December%2031,%202023.pdf", "label": "media.minto.com", "score": 19.8337402344, "published": false}, {"hash": "dt5d7mCZnex", "uri": "https://assets.rentsync.com/minto_investor_services/documents/1692230373068_2022-12_Annual_Information_Form.pdf", "label": "assets.rentsync.com", "score": 18.0883922577, "published": false}, {"hash": "84hkwTeibni", "uri": 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Acquisition and integration costs are one time in nature to the specific assets purchased in the current period or pending and are expensed under IFRS. AFFO is a non-IFRS measure \u2013 see Accounting Policies Non-IFRS Measures;", "size": 198, "title": "AFFO", "id": "affo", "examples": ["The amount of any <strong>AFFO</strong> Surplus in a given month shall be applied first to pay to the Advisor Asset Management Fees currently due with respect to such month (including any that would otherwise have been deferred for that month in accordance with this Amendment), and then to pay Asset Management Fees previously deferred by the Advisor in accordance with this Amendment.", "In the event of a Distribution Shortfall for any calendar quarter during the Term, NRFC shall purchase Shares from the Company in an amount equal to the Distribution Shortfall; provided, however, that NRFC shall not be obligated to purchase Shares for any quarter in which <strong>AFFO</strong> for such quarter exceeds the Threshold Amount and further provided, that NRFC\u2019s obligation to purchase Shares pursuant to this Agreement shall be limited to an aggregate of $10,000,000 in purchase amount.", "Assume the following: \u2022 <strong>AFFO</strong> for the 12-month period equals $4,000,000; \u2022 3,000,000 shares of Common Stock are outstanding and the weighted average number of shares of Common Stock outstanding during the 12-month period is 3,000,000; \u2022 weighted average issue price per share of common stock is $10.00; and \u2022 Incentive Fees paid during the first three quarters of such 12-month period are $300,000.", "In the event that the Company\u2019s <strong>AFFO</strong> does not meet the Minimum performance level threshold set forth below, all of the OP Profits Units shall be automatically forfeited and none of the Company, any Subsidiary or the Partnership shall have any further obligations to the Participant under this Agreement.", "At the end of the Performance Period, the Committee shall determine and certify, in its sole discretion, the <strong>AFFO</strong> and the resulting achievement for such period.", "Achievement of awards under the 2008 RSU Award Program was based upon the company\u2019s ability to meet both financial (<strong>AFFO</strong> per share) and strategic (shifting from a mortgage to an equity REIT) performance goals during 2008, as well as on the individual employee\u2019s ability to meet performance goals.", "At the end of the Performance Period, the Committee shall determine and certify, in its sole discretion, the <strong>AFFO</strong> and resulting achievement for such period.", "In accordance with the terms of the Plan, the terms of this Incentive Award (including but not limited to the terms of the <strong>AFFO</strong> Component), shall be adjusted as the Committee determines is equitably required in the event the Company effects one or more stock dividends, stock split-ups, subdivisions or consolidations of shares or other similar changes in capitalization.", "With respect to the 2008-2010 performance periods, the performance goals relate to the company\u2019s ability to meet both financial (compound growth in <strong>AFFO</strong> per share) and share return goals (total shareholder return versus the company\u2019s healthcare equity and mortgage REIT peers).", "In the event of a Distribution Shortfall for any calendar quarter during the Term, LP shall purchase Shares from the Company in an amount no less than the Distribution Shortfall; provided, however, that LP shall not be obligated to purchase Shares for any quarter in which <strong>AFFO</strong> for such quarter exceeds the Threshold Amount and further provided, that LP\u2019s obligation to purchase Shares pursuant to this Agreement shall be limited to an aggregate of $1,000,000 in purchase amount."], "related": [["ffo", "FFO", "FFO"], ["cash-flow-from-operations", "Cash Flow from Operations", "Cash Flow from Operations"], ["cagr", "CAGR", "CAGR"], ["adjusted-operating-income", "Adjusted Operating Income", "Adjusted Operating Income"], ["adjusted-eps", "Adjusted EPS", "Adjusted EPS"]], "related_snippets": [], "updated": "2025-08-09T06:18:18+00:00"}, "json": true, "cursor": ""}}