$AAT
American Assets Trust, Inc.

2023 Q4 Form 10-Q Financial Statement

#000150021723000071 Filed on October 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $112.5M $111.2M
YoY Change 6.12% 0.16%
Cost Of Revenue $43.71M $41.30M
YoY Change 9.82% 3.47%
Gross Profit $68.78M $69.89M
YoY Change 3.9% -1.72%
Gross Profit Margin 61.14% 62.85%
Selling, General & Admin $9.472M $9.371M
YoY Change 5.09% 5.71%
% of Gross Profit 13.77% 13.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $29.91M $29.90M
YoY Change -0.67% -5.76%
% of Gross Profit 43.48% 42.78%
Operating Expenses $39.38M $9.371M
YoY Change 0.66% 5.71%
Operating Profit $29.40M $31.14M
YoY Change 8.59% 0.44%
Interest Expense -$16.28M -$16.33M
YoY Change 12.64% -212.94%
% of Operating Profit -55.39% -52.43%
Other Income/Expense, Net $377.0K $321.0K
YoY Change -279.52% -278.33%
Pretax Income $13.49M $15.10M
YoY Change 8.75% -7.75%
Income Tax $293.0K
% Of Pretax Income 1.94%
Net Earnings $10.48M $15.14M
YoY Change 8.85% -7.54%
Net Earnings / Revenue 9.32% 13.61%
Basic Earnings Per Share $0.17 $0.20
Diluted Earnings Per Share $0.14 $0.20
COMMON SHARES
Basic Shares Outstanding 60.72M shares 60.72M shares
Diluted Shares Outstanding 76.33M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $82.89M $90.00M
YoY Change 67.21% 41.89%
Cash & Equivalents $82.89M $89.97M
Short-Term Investments
Other Short-Term Assets $10.46M $11.00M
YoY Change 12.72% 14.19%
Inventory
Prepaid Expenses
Receivables $7.624M $7.900M
Other Receivables $0.00 $0.00
Total Short-Term Assets $90.51M $108.9M
YoY Change 35.71% 33.41%
LONG-TERM ASSETS
Property, Plant & Equipment $2.705B $2.737B
YoY Change -1.93% 0.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.295M $1.500M
YoY Change
Total Long-Term Assets $2.894B $2.902B
YoY Change -0.92% -0.86%
TOTAL ASSETS
Total Short-Term Assets $90.51M $108.9M
Total Long-Term Assets $2.894B $2.902B
Total Assets $2.985B $3.011B
YoY Change -0.11% 0.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $61.31M $71.00M
YoY Change -7.09% -1.87%
Accrued Expenses $23.25M $23.90M
YoY Change -9.43% -8.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $70.19M $103.9M
YoY Change -30.06% -3.29%
LONG-TERM LIABILITIES
Long-Term Debt $1.690B $1.689B
YoY Change 2.52% 2.52%
Other Long-Term Liabilities $71.19M $48.50M
YoY Change 34.19% -41.03%
Total Long-Term Liabilities $1.761B $1.738B
YoY Change 3.51% 0.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.19M $103.9M
Total Long-Term Liabilities $1.761B $1.738B
Total Liabilities $1.787B $1.842B
YoY Change -0.86% 1.72%
SHAREHOLDERS EQUITY
Retained Earnings -$280.2M -$270.8M
YoY Change 11.57% 12.12%
Common Stock $1.470B $1.468B
YoY Change 0.55% 0.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.198B $1.209B
YoY Change
Total Liabilities & Shareholders Equity $2.985B $3.011B
YoY Change -0.11% 0.07%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $10.48M $15.14M
YoY Change 8.85% -7.54%
Depreciation, Depletion And Amortization $29.91M $29.90M
YoY Change -0.67% -5.76%
Cash From Operating Activities $38.85M $51.80M
YoY Change 1.76% -5.53%
INVESTING ACTIVITIES
Capital Expenditures $18.78M $19.80M
YoY Change -26.25% -178.4%
Acquisitions
YoY Change
Other Investing Activities -$907.0K -$1.300M
YoY Change -25.72% -31.61%
Cash From Investing Activities -$19.69M -$21.10M
YoY Change -26.23% -22.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -26.25M -25.40M
YoY Change 3.53% 1.6%
NET CHANGE
Cash From Operating Activities 38.85M 51.80M
Cash From Investing Activities -19.69M -21.10M
Cash From Financing Activities -26.25M -25.40M
Net Change In Cash -7.083M 5.300M
YoY Change -48.9% 97.69%
FREE CASH FLOW
Cash From Operating Activities $38.85M $51.80M
Capital Expenditures $18.78M $19.80M
Free Cash Flow $20.07M $32.00M
YoY Change 57.87% -60.04%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Use Of Estimates
UseOfEstimates
The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that in certain circumstances affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenues and expenses. These estimates are prepared using our best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates.
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us-gaap Revenue Recognition Leases
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<div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Revenue Recognition and Accounts Receivable</span></div><div style="margin-top:4.5pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our leases with tenants are classified as operating leases. Substantially all such leases contain fixed rent escalations which occur at specified times during the term of the lease. Base rents are recognized on a straight-line basis from when the tenant controls the space through the term of the related lease, net of valuation adjustments, based on management's assessment of credit, collection and other business risks.</span></div><div style="margin-top:4.5pt;text-indent:24.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We make estimates of the collectability of our current accounts receivable and straight-line rents receivable which require significant judgment by management. The collectability of receivables is affected by numerous different factors including current economic conditions, the impact of tenant bankruptcies, the status of collectability of current cash rents receivable, tenants' recent and historical financial and operating results, changes in our tenants' credit ratings, communications between our operating personnel and tenants, the extent of security deposits and letters of credit held with respect to tenants, and the ability of tenants to perform under the terms of their lease agreement. The provision for doubtful accounts at September 30, 2023 and December 31, 2022 was approximately $1.3 million and $2.1 million, respectively.</span></div><div style="margin-top:14pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Rent Concessions – COVID-19</span></div>Due to the impacts of COVID-19, from 2020 through 2022 we provided lease concessions to certain tenants, primarily within the retail segment, in the form of rent deferrals and abatements. We assess each lease concession and determine whether it represents a lease modification under Accounting Standards Codification Topic 842, Leases ("ASC 842").
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CY2023Q3 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
19765000 usd
CY2022Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
23526000 usd
CY2023Q3 aat Lease Incentive Accumulated Amortization
LeaseIncentiveAccumulatedAmortization
1177000 usd
CY2022Q4 aat Lease Incentive Accumulated Amortization
LeaseIncentiveAccumulatedAmortization
1012000 usd
CY2023Q3 us-gaap Incentive To Lessee
IncentiveToLessee
1430000 usd
CY2023Q3 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
52417000 usd
CY2022Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
52832000 usd
CY2023Q3 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
35121000 usd
CY2022Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
33168000 usd
CY2023Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
17296000 usd
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
19664000 usd
CY2022Q4 us-gaap Incentive To Lessee
IncentiveToLessee
1296000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1803000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1549000 usd
CY2023Q3 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
1896000 usd
CY2022Q4 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
2165000 usd
CY2023Q3 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
1134000 usd
CY2022Q4 us-gaap Accumulated Amortization Deferred Finance Costs
AccumulatedAmortizationDeferredFinanceCosts
0 usd
CY2023Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1457000 usd
us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
The effective portion of changes in the fair value of the derivatives that are designated as cash flow hedges are being recorded in accumulated other comprehensive income and will be subsequently reclassified into earnings during the period in which the hedged forecasted transaction affects earnings for as long as hedged cash flows remain probable. During the next twelve months, we estimate the cash flow hedges in place will reduce interest expense by approximately $0.4 million.The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of the derivative.  This analysis reflects the contractual terms of the derivative, including the period to maturity, and counterparty credit risk and uses observable market-based inputs, including interest rate curves, and implied volatilities.  The fair value of the interest rate swap is determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts).  The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves.
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
400000 usd
CY2023Q3 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
48181000 usd
CY2022Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
43078000 usd
CY2023Q3 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
38168000 usd
CY2022Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
38436000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
0 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
22116000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
23921000 usd
CY2023Q3 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
11028000 usd
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
9277000 usd
CY2023Q3 us-gaap Other Assets
OtherAssets
108584000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
108714000 usd
CY2023Q3 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
17296000 usd
CY2022Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
19664000 usd
CY2023Q3 us-gaap Deferred Revenue
DeferredRevenue
17778000 usd
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
17971000 usd
CY2023Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
0 usd
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
196000 usd
CY2023Q3 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
2501000 usd
CY2022Q4 us-gaap Deferred Compensation Liability Current And Noncurrent
DeferredCompensationLiabilityCurrentAndNoncurrent
2411000 usd
CY2023Q3 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
842000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
852000 usd
CY2023Q3 aat Deferred Rent Credits
DeferredRentCredits
10840000 usd
CY2022Q4 aat Deferred Rent Credits
DeferredRentCredits
12746000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
23880000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
25676000 usd
CY2023Q3 us-gaap Other Liabilities
OtherLiabilities
57000 usd
CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
61000 usd
CY2023Q3 us-gaap Deferred Credits And Other Liabilities
DeferredCreditsAndOtherLiabilities
73194000 usd
CY2022Q4 us-gaap Deferred Credits And Other Liabilities
DeferredCreditsAndOtherLiabilities
79577000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
33877000 usd
CY2023Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
11778000 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
12772000 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
39897000 usd
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
33877000 usd
CY2023Q3 aat Minority Interest In Continuing Operations Income Loss Operating Partnerships Diluted
MinorityInterestInContinuingOperationsIncomeLossOperatingPartnershipsDiluted
3168000 usd
CY2022Q3 aat Minority Interest In Continuing Operations Income Loss Operating Partnerships Diluted
MinorityInterestInContinuingOperationsIncomeLossOperatingPartnershipsDiluted
3442000 usd
CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.33
CY2023Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.33
CY2023Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.33
CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2100000 usd
CY2022Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2000000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
6300000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
5500000 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
5800000 usd
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
573949 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
483110 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
573070 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
483895 shares
CY2023Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
15135000 usd
CY2022Q3 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
16369000 usd
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
51198000 usd
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
43471000 usd
CY2023Q3 aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
189000 usd
CY2022Q3 aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
155000 usd
aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
568000 usd
aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
464000 usd
CY2023Q3 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
3168000 usd
CY2022Q3 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
3442000 usd
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
10733000 usd
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
9130000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
11778000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
12772000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
39897000 usd
aat Minority Interest In Continuing Operations Income Loss Operating Partnerships Diluted
MinorityInterestInContinuingOperationsIncomeLossOperatingPartnershipsDiluted
10733000 usd
aat Minority Interest In Continuing Operations Income Loss Operating Partnerships Diluted
MinorityInterestInContinuingOperationsIncomeLossOperatingPartnershipsDiluted
9130000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
14946000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
16214000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
50630000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
43007000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60150681 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60044117 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60147189 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60041034 shares
CY2023Q3 aat Incremental Common Shares Attributable To Conversion Of Operating Partnership Units
IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits
16181537 shares
CY2022Q3 aat Incremental Common Shares Attributable To Conversion Of Operating Partnership Units
IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits
16181537 shares
aat Incremental Common Shares Attributable To Conversion Of Operating Partnership Units
IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits
16181537 shares
aat Incremental Common Shares Attributable To Conversion Of Operating Partnership Units
IncrementalCommonSharesAttributableToConversionOfOperatingPartnershipUnits
16181537 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76332218 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76225654 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76328726 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76222571 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.21
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.66
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.56
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.66
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.56
CY2023Q3 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
700000 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
700000 usd
CY2023Q3 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
800000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
900000 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
800000 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
600000 usd
us-gaap Loss On Contract Termination For Default
LossOnContractTerminationForDefault
7400000 usd
aat Number Of Consolidated Properties
NumberOfConsolidatedProperties
15 property
aat Lease Income Cost
LeaseIncomeCost
142000 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y9M
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0319
us-gaap Operating Lease Payments
OperatingLeasePayments
2484000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
2412000 usd
us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
16298000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
59230000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
245168000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
230418000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
213389000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
187633000 usd
CY2023Q3 aat Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
367831000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1303669000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
844000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3428000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3531000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3584000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3584000 usd
CY2023Q3 aat Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
12543000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
27514000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3634000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
23880000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
932000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
844000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
2786000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
2533000 usd
CY2023Q3 us-gaap Sublease Income
SubleaseIncome
978000 usd
CY2022Q3 us-gaap Sublease Income
SubleaseIncome
968000 usd
us-gaap Sublease Income
SubleaseIncome
2648000 usd
us-gaap Sublease Income
SubleaseIncome
2675000 usd
CY2023Q3 aat Lease Income Cost
LeaseIncomeCost
46000 usd
CY2022Q3 aat Lease Income Cost
LeaseIncomeCost
124000 usd
aat Lease Income Cost
LeaseIncomeCost
-138000 usd
CY2023Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
905000 usd
CY2022Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
978000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
2065000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
2216000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11893000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
11379000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
32402000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
28848000 usd
CY2023Q3 aat Other Real Estate Rental Revenue
OtherRealEstateRentalRevenue
657000 usd
CY2022Q3 aat Other Real Estate Rental Revenue
OtherRealEstateRentalRevenue
665000 usd
aat Other Real Estate Rental Revenue
OtherRealEstateRentalRevenue
1982000 usd
aat Other Real Estate Rental Revenue
OtherRealEstateRentalRevenue
1937000 usd
CY2023Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
105494000 usd
CY2022Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
105468000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
312105000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
301470000 usd
CY2023Q3 us-gaap Straight Line Rent
StraightLineRent
400000 usd
CY2022Q3 us-gaap Straight Line Rent
StraightLineRent
2500000 usd
us-gaap Straight Line Rent
StraightLineRent
3600000 usd
us-gaap Straight Line Rent
StraightLineRent
6300000 usd
CY2023Q3 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
800000 usd
CY2022Q3 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
800000 usd
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
2300000 usd
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
2500000 usd
CY2023Q3 aat Direct Costs Of Leased Property Lessor Expense
DirectCostsOfLeasedPropertyLessorExpense
13428000 usd
CY2022Q3 aat Direct Costs Of Leased Property Lessor Expense
DirectCostsOfLeasedPropertyLessorExpense
12272000 usd
aat Direct Costs Of Leased Property Lessor Expense
DirectCostsOfLeasedPropertyLessorExpense
38779000 usd
aat Direct Costs Of Leased Property Lessor Expense
DirectCostsOfLeasedPropertyLessorExpense
34795000 usd
CY2023Q3 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
7675000 usd
CY2022Q3 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
7230000 usd
us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
21935000 usd
us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
19352000 usd
CY2023Q3 us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
5652000 usd
CY2022Q3 us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
5799000 usd
us-gaap Cost Of Property Repairs And Maintenance
CostOfPropertyRepairsAndMaintenance
15868000 usd
CY2023Q3 us-gaap Marketing Expense
MarketingExpense
491000 usd
CY2022Q3 us-gaap Marketing Expense
MarketingExpense
489000 usd
us-gaap Marketing Expense
MarketingExpense
1568000 usd
us-gaap Marketing Expense
MarketingExpense
1477000 usd
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
885000 usd
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
815000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
2651000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
2405000 usd
CY2023Q3 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
1147000 usd
CY2022Q3 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
1231000 usd
us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
3134000 usd
us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
2963000 usd
CY2023Q3 us-gaap Management Fee Expense
ManagementFeeExpense
634000 usd
CY2022Q3 us-gaap Management Fee Expense
ManagementFeeExpense
602000 usd
us-gaap Management Fee Expense
ManagementFeeExpense
1763000 usd
us-gaap Management Fee Expense
ManagementFeeExpense
1576000 usd
CY2023Q3 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
29912000 usd
CY2022Q3 us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
28438000 usd
us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
86128000 usd
us-gaap Cost Of Other Property Operating Expense
CostOfOtherPropertyOperatingExpense
78436000 usd
CY2023Q3 us-gaap Interest And Other Income
InterestAndOtherIncome
614000 usd
CY2022Q3 us-gaap Interest And Other Income
InterestAndOtherIncome
60000 usd
us-gaap Interest And Other Income
InterestAndOtherIncome
1507000 usd
us-gaap Interest And Other Income
InterestAndOtherIncome
117000 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
293000 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
240000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
750000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
640000 usd
CY2023Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
0 usd
CY2022Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
0 usd
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
6515000 usd
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
0 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-523000 usd
CY2023Q3 aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
189000 usd
CY2022Q3 aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
155000 usd
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4 segment
CY2023Q3 aat Number Of Rooms In Mixed Use Segment All Suite Hotel
NumberOfRoomsInMixedUseSegmentAllSuiteHotel
369 room
CY2023Q3 us-gaap Gross Profit
GrossProfit
69887000 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
71108000 usd
us-gaap Gross Profit
GrossProfit
208428000 usd
us-gaap Gross Profit
GrossProfit
204019000 usd
CY2023Q3 us-gaap Gross Profit
GrossProfit
69887000 usd
CY2022Q3 us-gaap Gross Profit
GrossProfit
71108000 usd
us-gaap Gross Profit
GrossProfit
208428000 usd
us-gaap Gross Profit
GrossProfit
204019000 usd
CY2023Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
8880000 usd
CY2022Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
8376000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
26488000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
23130000 usd
CY2023Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
29868000 usd
CY2022Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
31729000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
89592000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
93228000 usd
CY2023Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-16325000 usd
CY2022Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-14454000 usd
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-48422000 usd
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-43667000 usd
CY2023Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
321000 usd
CY2022Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-180000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
7272000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-523000 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
15135000 usd
CY2022Q3 us-gaap Profit Loss
ProfitLoss
16369000 usd
us-gaap Profit Loss
ProfitLoss
51198000 usd
us-gaap Profit Loss
ProfitLoss
43471000 usd
aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
568000 usd
aat Net Income Attributable To Restricted Share
NetIncomeAttributableToRestrictedShare
464000 usd
CY2023Q3 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
3168000 usd
CY2022Q3 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
3442000 usd
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
10733000 usd
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
9130000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
11778000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
12772000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
39897000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
33877000 usd
CY2023Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2715269000 usd
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2734556000 usd
CY2023Q3 us-gaap Notes Payable
NotesPayable
75000000 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
75000000 usd
CY2023Q3 aat Capital Expenditures And Leasing Commissions
CapitalExpendituresAndLeasingCommissions
21142000 usd
CY2022Q3 aat Capital Expenditures And Leasing Commissions
CapitalExpendituresAndLeasingCommissions
27155000 usd
aat Capital Expenditures And Leasing Commissions
CapitalExpendituresAndLeasingCommissions
70228000 usd
aat Capital Expenditures And Leasing Commissions
CapitalExpendituresAndLeasingCommissions
94467000 usd
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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aat-20230930_cal.xml Edgar Link unprocessable