Real Estate
AFFO and GAAP income are different lenses: AMT
A REIT cash-oriented performance measure is not interchangeable with GAAP earnings.
A REIT cash-oriented performance measure is not interchangeable with GAAP earnings. Depreciation, disposals and other adjustments can affect the gap. For comparisons, keep the detailed operating statement, the definition of AFFO and the reconciliation together rather than presenting AFFO as an unqualified profit figure. Source context American Tower reports property and services revenues from communications infrastructure and related operations. The selected GAAP table uses the detailed statement precision. AFFO is a separately labelled non-GAAP measure, not net income. How to use the observation Read the source captions and dates next to the selected financial metrics. Preserve the distinction between a reported figure, a company-adjusted measure and a new calculation. A relationship between totals identifies a question for further research; it does not by itself establish causation or predict the stock price. Scope This is editorial interpretation of the linked historical disclosure. It does not represent company guidance, personalized advice or a current trading signal.