The National Association of Real Estate Investment Trusts («NAREIT») defines funds from operations («NAREIT FFO») as net income / (loss) attributable to common shareholders computed in accordance with generally accepted accounting principles in the United
States («GAAP»), excluding gains or losses from sales of operating real estate assets and change in control of interests, plus (i)
depreciation and amortization of operating properties and (ii) impairment of depreciable real estate and in substance real estate equity investments and (iii)
after adjustments for unconsolidated partnerships and joint ventures calculated to reflect NAREIT FFO on the same basis.
A
stated amount is the value submitted by the insured as representative of the current value of an insured vehicle,
after accounting for
depreciation and including the value of any special or permanently attached equipment.