WELLTOWER INC.

WELL · XNYS

CIK 766704fmd_1CBDZE0F06QZ4BW0AYETCM86VTFinance, Insurance and Real Estate · Real Estate Investment TrustsTemplate: Real estate

Coverage: Jan 01, 2008 to Sep 30, 2026, 72 periods

Income Statement · Annual · Millions · USD
Line item	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Rental revenue	1,649	1,446	1,380	1,588	1,443	1,375	1,452	1,556	1,570	1,968
Total revenues	4,281	4,317	4,700	5,121	4,606	4,742	5,861	6,638	7,991	10,838
Cost of revenue	–	2,084	2,433	2,690	2,598	2,775	3,559	3,948	4,830	6,488
Provision for credit losses	10	63	0	19	94	7	10	10	10	(9)
Gross profit	–	2,233	2,267	2,431	2,008	1,968	2,302	2,690	3,161	4,350
Real estate taxes	–	–	–	–	–	–	254	277	311	345
Depreciation and amortization	901	922	950	1,027	1,038	1,038	1,310	1,401	1,632	2,085
Selling, general and administrative	155	122	126	127	128	127	150	179	235	1,748
Gain on sale of real estate	364	344	416	748	1,088	235	16	68	–	–
Impairment of real estate	37	124	–	–	–	–	–	–	–	–
Total operating expenses	3,572	4,017	4,277	–	–	–	–	–	–	–
Compensation and benefits	–	–	–	–	–	–	2,020	2,231	2,715	3,783
Funds from operations (NAREIT definition, derived)	1,656	1,243	1,365	1,609	989	1,177	1,455	1,691	2,605	3,047
Operating income	–	(1,784)	(2,010)	–	–	–	–	–	–	–
Interest expense	521	485	527	556	514	490	530	608	–	–
Other non-operating income (expense)	–	–	(113)	(53)	(70)	(42)	(102)	(108)	–	–
Income before taxes	709	300	423	543	(32)	171	173	350	524	–
Income tax expense	(19)	20	9	3	10	9	7	6	3	(7)
Net income from continuing operations	1,082	541	830	1,330	1,039	374	161	358	973	962
Net income	1,082	541	830	1,330	1,039	374	161	358	973	962
Net income to common shareholders	1,012	464	758	1,232	979	336	141	340	952	937