The importance of CDFS
is that it will finally create one voice for the digital forensic profession," said Toby Finnie, a CDFS
Board member and Director of the High Tech Crime Consortium, an 1,800-member non-profit association that is a CDFS
Fitch defines fixed charge coverage as recurring operating EBITDA excluding CDFS
gains plus cash distributions from unconsolidated investees less recurring capital expenditures and straight-line rent adjustments, divided by cash interest expense, capitalized interest, and preferred dividends.
As a result, as of December 31, 2008, we have two operating segments- Direct Owned and Investment Management, and we no longer include any assets in the CDFS
6 million square feet, was new CDFS
leases, including those for build-to-suit projects under development.
However, Fitch believes that PLD's stabilized property leased percentages remain solid for the rating category, and that PLD's lease expiration schedule remains relatively balanced in the company's directly-owned portfolio as well as in PLD's property funds and CDFS
industrial joint ventures (JVs).
35 per share, or roughly flat compared with 2008, driven by continued growth in income from the company's Investment Management business and a slightly higher level of income from the company's Property Operations segment, offset by a lower level of CDFS
income from dispositions.
In addition, the company stated that it slightly exceeded its prior expectations for first half 2008 profitability primarily due to the recognition of certain CDFS
gains, which had originally been anticipated in the third quarter, as well as lower losses related to the company's share of remeasurement and settlement losses on interest rate derivative contracts entered into by ProLogis' unconsolidated property funds.
2 million square feet of new CDFS
leases, including those with repeat customers such as: Hitachi Transport in Fukuoka, Japan; DHL in Venlo, The Netherlands and GE Commercial in Monterrey, Mexico.
8 million square feet of new CDFS
leases, including those with repeat customers such as: Black & Decker in Reynosa, Mexico; Nokia in Suzhou, China; Wincanton in Warsaw, Poland and Electrolux in both Pennsylvania and Southern California's Inland Empire.
The related increases in property valuations supported record gains in our development, or CDFS
, business and exceptionally strong margins during the quarter," he said.
Development Profits, Improving Operating Fundamentals and Higher FFO From Funds and Joint Ventures Drive Growth -
5% increase in CDFS
disposition gains over the prior year.