Company FFO (CFFO) was $161 million for the quarter ended September 30, 2020, compared to $324 million in the prior-year period. CFFO was impacted this quarter by residual effects of the global economic shutdown earlier in the year. In the prior-year period, CFFO also benefited from the recognition of $41 million in transaction income.
Net income for the quarter ended September 30, 2020 was a loss of $135 million ($(0.24) per LP unit) versus a gain of $870 million ($0.46 per LP unit) for the same period in 2019. The decrease in net income over the prior year period is primarily attributable to a non-cash and unrealized reduction of asset values of certain assets within the portfolio.