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AGREE REALTY CORP

2013 Q3 Form 10-Q Financial Statement

#000114420413058235 Filed on November 01, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2012 Q4 2012 Q3
Revenue $11.27M $9.267M $8.902M
YoY Change 26.62% 19.73% 19.17%
Cost Of Revenue $920.0K $580.0K $650.0K
YoY Change 41.54% -21.62% -16.67%
Gross Profit $10.35M $7.830M $8.540M
YoY Change 21.19% 11.7% 27.65%
Gross Profit Margin 91.82% 84.49% 95.93%
Selling, General & Admin $1.690M $1.630M $1.420M
YoY Change 19.01% -8.94% 11.81%
% of Gross Profit 16.33% 20.82% 16.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.300M $1.900M $1.900M
YoY Change 21.05% 0.0% 0.0%
% of Gross Profit 22.22% 24.27% 22.25%
Operating Expenses $3.810M $3.090M $3.060M
YoY Change 24.51% -2.22% 10.47%
Operating Profit $6.544M $4.740M $5.480M
YoY Change 19.4% 23.12% 39.81%
Interest Expense $1.634M -$1.510M $1.344M
YoY Change 21.56% 41.12% -238.58%
% of Operating Profit 24.97% -31.86% 24.53%
Other Income/Expense, Net
YoY Change
Pretax Income $4.910M $3.240M $4.140M
YoY Change 18.6% 16.97% -12.1%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0% 0.0% 0.0%
Net Earnings $4.528M $4.747M $3.907M
YoY Change 15.91% 52.64% -310.57%
Net Earnings / Revenue 40.17% 51.22% 43.89%
Basic Earnings Per Share $0.35 $0.35
Diluted Earnings Per Share $0.35 $0.40 $0.35
COMMON SHARES
Basic Shares Outstanding 12.98M shares 11.19M shares
Diluted Shares Outstanding 13.06M shares 11.24M shares

Balance Sheet

Concept 2013 Q3 2012 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.800M $1.300M $500.0K
YoY Change 1060.0% -35.0% -44.44%
Cash & Equivalents $5.824M $1.270M $543.0K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $0.00
Prepaid Expenses
Receivables $2.400M $2.200M $1.400M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.200M $3.500M $1.900M
YoY Change 331.58% 25.0% -47.22%
LONG-TERM ASSETS
Property, Plant & Equipment $402.0M $316.4M $301.0M
YoY Change 33.55% 17.24% 14.75%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $31.20M $24.90M $27.30M
YoY Change 14.29% 33.16% 78.43%
Total Long-Term Assets $435.4M $366.6M $330.8M
YoY Change 31.62% 25.91% 18.82%
TOTAL ASSETS
Total Short-Term Assets $8.200M $3.500M $1.900M
Total Long-Term Assets $435.4M $366.6M $330.8M
Total Assets $443.6M $370.1M $332.7M
YoY Change 33.33% 25.91% 17.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $300.0K $100.0K $0.00
YoY Change -75.0% -100.0%
Accrued Expenses $400.0K $300.0K $500.0K
YoY Change -20.0% -57.14% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.300M $7.100M $6.700M
YoY Change -5.97% -14.46% 39.58%
LONG-TERM LIABILITIES
Long-Term Debt $189.8M $160.9M $124.4M
YoY Change 52.57% 34.87% 14.02%
Other Long-Term Liabilities $2.300M $3.300M $3.400M
YoY Change -32.35% 10.0% 3.03%
Total Long-Term Liabilities $192.1M $164.2M $127.8M
YoY Change 50.31% 34.26% 13.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.300M $7.100M $6.700M
Total Long-Term Liabilities $192.1M $164.2M $127.8M
Total Liabilities $200.6M $172.1M $137.8M
YoY Change 45.57% 30.68% 12.86%
SHAREHOLDERS EQUITY
Retained Earnings -$23.26M -$21.17M
YoY Change 1.19%
Common Stock $1.324K $1.144K
YoY Change 16.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $240.4M $195.3M $194.9M
YoY Change
Total Liabilities & Shareholders Equity $443.6M $370.1M $332.7M
YoY Change 33.34% 25.91% 17.98%

Cashflow Statement

Concept 2013 Q3 2012 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income $4.528M $4.747M $3.907M
YoY Change 15.91% 52.64% -310.57%
Depreciation, Depletion And Amortization $2.300M $1.900M $1.900M
YoY Change 21.05% 0.0% 0.0%
Cash From Operating Activities $7.000M $6.900M $5.500M
YoY Change 27.27% -22.47% 3.77%
INVESTING ACTIVITIES
Capital Expenditures -$30.00M -$39.70M -$19.20M
YoY Change 56.25% 139.16% 17.79%
Acquisitions
YoY Change
Other Investing Activities $0.00 $3.300M $8.800M
YoY Change -100.0% 120.0% -8900.0%
Cash From Investing Activities -$30.10M -$36.50M -$10.50M
YoY Change 186.67% 141.72% -36.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 27.60M 30.30M 4.800M
YoY Change 475.0% 315.07% -57.14%
NET CHANGE
Cash From Operating Activities 7.000M 6.900M 5.500M
Cash From Investing Activities -30.10M -36.50M -10.50M
Cash From Financing Activities 27.60M 30.30M 4.800M
Net Change In Cash 4.500M 700.0K -200.0K
YoY Change -2350.0% -36.36% -21474836479998990.0%
FREE CASH FLOW
Cash From Operating Activities $7.000M $6.900M $5.500M
Capital Expenditures -$30.00M -$39.70M -$19.20M
Free Cash Flow $37.00M $46.60M $24.70M
YoY Change 49.8% 82.75% 14.35%

Facts In Submission

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1.03
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.97
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
-0.01
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.07
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.25
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.10
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.22
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.35
CY2012Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.36
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.03
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.96
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
-0.01
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.07
us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.25
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.10
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.21
adc Interest Capitalized For Rea Lestate Under Development
InterestCapitalizedForReaLestateUnderDevelopment
438843 USD
adc Interest Capitalized For Rea Lestate Under Development
InterestCapitalizedForReaLestateUnderDevelopment
104254 USD
us-gaap Depreciation
Depreciation
5130962 USD
us-gaap Depreciation
Depreciation
4323297 USD
us-gaap Adjustment For Amortization
AdjustmentForAmortization
1827470 USD
us-gaap Adjustment For Amortization
AdjustmentForAmortization
1313904 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1391785 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1236000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
201050 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
592064 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
450000 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
130958 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1463254 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-549019 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1978649 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-347535 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-347535 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
36485 USD
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-242269 USD
us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
-13090 USD
us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
-19814 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
21216239 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
14339725 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
79512790 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
44849100 USD
us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
8950 USD
us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
14241 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
5462280 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
15330481 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
0 USD
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
3280616 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-74059460 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-32813476 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
44802340 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
35042235 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
86894408 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
59062100 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
90424413 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
60665998 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
2586204 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
2328560 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
15430910 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
13089390 USD
us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
122080 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
311522 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
164851 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
57397524 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
17014074 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
424095 USD
us-gaap Payments Of Capital Distribution
PaymentsOfCapitalDistribution
417141 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
4554304 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1459677 USD
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2002663 USD
CY2012Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
542986 USD
us-gaap Interest Paid Net
InterestPaidNet
3412222 USD
us-gaap Stock Issued1
StockIssued1
2390208 USD
us-gaap Stock Issued1
StockIssued1
2175831 USD
adc Dividends Declared And Unpaid
DividendsDeclaredAndUnpaid
5571089 USD
adc Dividends Declared And Unpaid
DividendsDeclaredAndUnpaid
4711946 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
322719 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
35045 USD
us-gaap Debt Instrument Decrease Forgiveness
DebtInstrumentDecreaseForgiveness
0 USD
us-gaap Debt Instrument Decrease Forgiveness
DebtInstrumentDecreaseForgiveness
9173789 USD
adc Real Estate Acquisitions Financed With Debt Assumption
RealEstateAcquisitionsFinancedWithDebtAssumption
0 USD
adc Real Estate Acquisitions Financed With Debt Assumption
RealEstateAcquisitionsFinancedWithDebtAssumption
18220528 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
35000000 USD
us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
0 USD
CY2013Q3 us-gaap Line Of Credit Facility Amount Outstanding
LineOfCreditFacilityAmountOutstanding
40000000 USD
CY2013Q3 adc Line Of Credit Facility Weighted Average Interest Rate
LineOfCreditFacilityWeightedAverageInterestRate
0.0192 pure
CY2013Q3 adc Line Of Credit Facility Available For Borrowing Subject To Customary Condition
LineOfCreditFacilityAvailableForBorrowingSubjectToCustomaryCondition
45000000 USD
adc Extension Options
ExtensionOptions
two one-year terms
adc Line Of Credit Facility Extension Option Expiration Date
LineOfCreditFacilityExtensionOptionExpirationDate
October 2017
us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
interest at LIBOR plus a spread of 150 to 215 basis points depending on the Companys leverage ratio
adc Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStock
80415 shares
adc Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStock
49873 shares
CY2013Q3 adc Weighted Average Number Of Common Shares Outstanding Before Unvested Restricted Stock
WeightedAverageNumberOfCommonSharesOutstandingBeforeUnvestedRestrictedStock
13239947 shares
CY2012Q3 adc Weighted Average Number Of Common Shares Outstanding Before Unvested Restricted Stock
WeightedAverageNumberOfCommonSharesOutstandingBeforeUnvestedRestrictedStock
11436044 shares
CY2013Q3 adc Weighted Average Number Unvested Restricted Stock
WeightedAverageNumberUnvestedRestrictedStock
256173 shares
CY2012Q3 adc Weighted Average Number Unvested Restricted Stock
WeightedAverageNumberUnvestedRestrictedStock
250180 shares
CY2013Q3 adc Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStock
79414 shares
CY2012Q3 adc Incremental Common Shares Attributable To Dilutive Effect Of Restricted Stock
IncrementalCommonSharesAttributableToDilutiveEffectOfRestrictedStock
53066 shares
adc Weighted Average Number Of Common Shares Outstanding Before Unvested Restricted Stock
WeightedAverageNumberOfCommonSharesOutstandingBeforeUnvestedRestrictedStock
13128981 shares
adc Weighted Average Number Of Common Shares Outstanding Before Unvested Restricted Stock
WeightedAverageNumberOfCommonSharesOutstandingBeforeUnvestedRestrictedStock
11283037 shares
adc Weighted Average Number Unvested Restricted Stock
WeightedAverageNumberUnvestedRestrictedStock
256173 shares
adc Weighted Average Number Unvested Restricted Stock
WeightedAverageNumberUnvestedRestrictedStock
250180 shares
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <table style="clear:both;FONT-SIZE: 10pt; BORDER-COLLAPSE: collapse; WIDTH: 100%" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td style="BORDER-TOP: #ece9d8; BORDER-RIGHT: #ece9d8; BORDER-BOTTOM: #ece9d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: #ece9d8; PADDING-RIGHT: 0in; WIDTH: 4%; BACKGROUND-COLOR: transparent" valign="top" width="4%"> <div style="clear:both;MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman,serif"><strong> 4.</strong></font></div> </td> <td style="BORDER-TOP: #ece9d8; BORDER-RIGHT: #ece9d8; BORDER-BOTTOM: #ece9d8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 0in; BORDER-LEFT: #ece9d8; PADDING-RIGHT: 0in; WIDTH: 96%; BACKGROUND-COLOR: transparent" valign="top" width="96%"> <div style="clear:both;MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman,serif"><strong> Recent Accounting Pronouncements</strong></font></div> </td> </tr> </table> </div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">As of September 30 2013, the impact of recent accounting pronouncements is not considered to be material.</font></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2013Q3 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
85000000 USD
CY2013Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
135000000 USD
us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2015-10-26
CY2013Q3 us-gaap Real Estate Investments
RealEstateInvestments
146524119 USD
CY2013Q3 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.0439 pure
CY2013Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
12735342 USD
CY2013Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
43632216 USD
CY2013Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
12456396 USD
CY2013Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
22924073 USD
CY2013Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
27363950 USD
CY2013Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
70677961 USD
CY2013Q3 us-gaap Long Term Debt
LongTermDebt
189789938 USD
CY2013Q3 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.41
CY2004Q3 us-gaap Real Estate Investments Joint Ventures
RealEstateInvestmentsJointVentures
4000000 USD
adc Deferred Revenue Revenue Recognization Period
DeferredRevenueRevenueRecognizationPeriod
P3Y4M24D
CY2011Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
9200000 USD
CY2013Q3 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
0 USD
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
9301 USD
CY2012Q3 us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
390543 USD
us-gaap Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
2116663 USD
CY2013Q3 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
0 USD
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
2287 USD
CY2012Q3 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
180924 USD
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
1009303 USD
CY2013Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
0 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
24732 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
85296 USD
CY2012Q3 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Noncontrolling Interest
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToNoncontrollingInterest
-3266 USD
adc Payments To Acquire Retail Assets
PaymentsToAcquireRetailAssets
70000000 USD
adc Weighted Average Capitalization Rate For Acquired Assets
WeightedAverageCapitalizationRateForAcquiredAssets
0.0799 pure
adc Percentage Of Control Of Assets
PercentageOfControlOfAssets
1 pure
us-gaap Real Estate Revenue Net
RealEstateRevenueNet
1506000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
112000 USD
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P19Y9M18D
CY2013Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
16 Properties
us-gaap Acquisition Costs
AcquisitionCosts
270000 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
35104000 USD
us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
13926000 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
28872000 USD
us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
11074000 USD
CY2013Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1725000 shares
CY2013Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
27.25
CY2013Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
45000000 USD
CY2013Q3 adc Shares Authorized
SharesAuthorized
40000000 shares

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