Trump reports his golf income steady since taking office

Trump reports his golf income steady since taking office

(CNN) – Editor’s Note: This story has been corrected to address an inaccurate comparison of two different time periods in the original version. Trump’s financial disclosure report for 2016 also included the first three and a half months of 2017, a period of 15 ½ months. Trump’s financial disclosure for 2017, released Wednesday, covered a 12-month period. The original story’s comparison of two different time periods led to an unsupported assessment about the revenue of the Trump golf businesses.

The revenue streams to President Donald Trump from his golf courses have been roughly flat since his last financial disclosure report, according the new report released Wednesday.

On an estimated adjusted basis — necessary because the two reports span different lengths of time — Trump’s golf-related revenue was down about $2.5 million, or a little over 1%.

His new report, filed this week, discloses $214.7 million in revenue from his golf-related companies. The previous report, filed last June, reported $280.5 million.

However, the previous disclosure filing covered a period of 15.5 months, instead of a 12-month stretch like the new one. That makes it necessary to reconcile the two reports in order to compare, apples-to-apples, how the President’s golf courses are truly performing.

Assuming an even spread throughout the year of the golf courses’ revenue, a standard calculation to the previous $281 million shows that Trump’s properties, in all likelihood, made closer to $217 million — putting the difference at roughly $2.5 million.

While that represents an estimated loss in revenue, many businesses consider anything less than a 2% swing in either direction to be basically flat by comparison.

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