“As has been explained in the past, the reporting requirements dictated by our lenders differ from
those dictated by state and federal agencies. Just as there are various ways to report income (e.g.,
cash basis, accrual basis, etc.), there are also various ways to report square footage (e.g., usable,
rentable, etc. – which numbers can change at any point in time based on renovations and
alterations). And while certain reports provide a snapshot as of a specific moment in time, others
show performance over a period of time (e.g., quarterly, semi-annually, annually, etc.). So, in
other words, comparing the various reports is comparing apples to oranges.” Spokesperson, The
Trump Organization