$ADC
AGREE REALTY CORP

2021 Q4 Form 10-Q Financial Statement

#000155837021013910 Filed on November 01, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $91.41M $87.54M $63.81M
YoY Change 27.99% 37.18% 32.73%
Cost Of Revenue $10.75M $10.15M $7.620M
YoY Change 18.29% 33.15% 44.59%
Gross Profit $80.66M $77.39M $56.19M
YoY Change 29.41% 37.73% 31.29%
Gross Profit Margin 88.24% 88.41% 88.06%
Selling, General & Admin $7.067M $6.087M $5.080M
YoY Change -0.74% 19.82% 21.24%
% of Gross Profit 8.76% 7.87% 9.04%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $26.56M $24.49M $17.40M
YoY Change 34.85% 40.74% 13.73%
% of Gross Profit 32.93% 31.64% 30.97%
Operating Expenses $33.63M $30.57M $22.41M
YoY Change 25.45% 36.43% 39.28%
Operating Profit $47.03M $50.29M $31.88M
YoY Change 32.4% 57.74% 19.31%
Interest Expense -$13.11M $13.07M $10.16M
YoY Change 11.2% 28.63% 21.62%
% of Operating Profit -27.88% 25.98% 31.86%
Other Income/Expense, Net $67.00K $0.00 $0.00
YoY Change
Pretax Income $33.82M $37.22M $21.72M
YoY Change 40.81% 71.36% 3.58%
Income Tax $517.0K $400.0K $300.0K
% Of Pretax Income 1.53% 1.07% 1.38%
Net Earnings $33.15M $36.66M $21.28M
YoY Change 40.35% 72.29% 3.25%
Net Earnings / Revenue 36.26% 41.88% 33.35%
Basic Earnings Per Share $0.52 $0.39
Diluted Earnings Per Share $468.9K $0.52 $0.39
COMMON SHARES
Basic Shares Outstanding 69.78M 69.10M 53.72M
Diluted Shares Outstanding 69.59M 54.56M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.25M $91.88M $14.70M
YoY Change 609.05% 525.04% 56.38%
Cash & Equivalents $43.25M $91.88M $14.72M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $5.676M $5.571M
Prepaid Expenses
Receivables $53.44M $52.85M $39.30M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $102.4M $150.3M $54.00M
YoY Change 126.98% 178.34% 26.17%
LONG-TERM ASSETS
Property, Plant & Equipment $4.428B $4.175B $3.056B
YoY Change 32.24% 36.64% 44.21%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.998M $10.93M $1.500M
YoY Change 11.0% 628.47% 7.14%
Total Long-Term Assets $5.125B $4.847B $3.494B
YoY Change 33.41% 38.74% 40.84%
TOTAL ASSETS
Total Short-Term Assets $102.4M $150.3M $54.00M
Total Long-Term Assets $5.125B $4.847B $3.494B
Total Assets $5.227B $4.998B $3.548B
YoY Change 34.5% 40.87% 40.59%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $38.80M $56.32M $52.00M
YoY Change -28.29% 8.3% -1.14%
Accrued Expenses $25.00M $18.01M $15.90M
YoY Change 44.51% 13.24%
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 $80.68M $89.83M $100.4M
YoY Change -23.82% -10.53% 30.39%
LONG-TERM LIABILITIES
Long-Term Debt $1.694B $1.534B $1.146B
YoY Change 39.03% 33.78% 23.44%
Other Long-Term Liabilities $33.08M $32.54M $35.50M
YoY Change -7.35% -8.33% 30.04%
Total Long-Term Liabilities $1.727B $1.566B $1.182B
YoY Change 37.71% 32.52% 23.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $80.68M $89.83M $100.4M
Total Long-Term Liabilities $1.727B $1.566B $1.182B
Total Liabilities $1.808B $1.656B $1.282B
YoY Change 32.92% 29.14% 24.14%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $7.000K $7.000K $6.000K
YoY Change 16.67% 16.67% 50.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.418B $3.340B $2.264B
YoY Change
Total Liabilities & Shareholders Equity $5.227B $4.998B $3.548B
YoY Change 34.5% 40.87% 40.59%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $33.15M $36.66M $21.28M
YoY Change 40.35% 72.29% 3.25%
Depreciation, Depletion And Amortization $26.56M $24.49M $17.40M
YoY Change 34.85% 40.74% 13.73%
Cash From Operating Activities $60.35M $68.02M $23.10M
YoY Change 15.83% 194.46% -25.24%
INVESTING ACTIVITIES
Capital Expenditures -$326.6M $340.6M $458.8M
YoY Change -11.02% -25.76% -282.72%
Acquisitions
YoY Change
Other Investing Activities $9.141M $11.31M $3.400M
YoY Change 915.67% 232.71% -55.26%
Cash From Investing Activities -$317.4M -$334.2M -$464.6M
YoY Change -13.3% -28.07% 90.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 199.5M 180.6M 421.3M
YoY Change -34.76% -57.14% 109.71%
NET CHANGE
Cash From Operating Activities 60.35M 68.02M 23.10M
Cash From Investing Activities -317.4M -334.2M -464.6M
Cash From Financing Activities 199.5M 180.6M 421.3M
Net Change In Cash -57.56M -85.57M -20.20M
YoY Change 601.93% 323.63% 72.65%
FREE CASH FLOW
Cash From Operating Activities $60.35M $68.02M $23.10M
Capital Expenditures -$326.6M $340.6M $458.8M
Free Cash Flow $386.9M -$272.6M -$435.7M
YoY Change -7.68% -37.44% -254.5%

Facts In Submission

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us-gaap Costs And Expenses
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CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2021Q3 us-gaap Comprehensive Income Net Of Tax
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CY2020Q3 us-gaap Comprehensive Income Net Of Tax
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CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
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CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2020Q2 us-gaap Stock Issued During Period Value New Issues
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CY2020Q2 us-gaap Dividends
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us-gaap Gain Loss On Disposition Of Assets1
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CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Dividends Preferred Stock
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us-gaap Amortization Of Deferred Charges
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us-gaap Amortization Of Deferred Charges
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us-gaap Preferred Stock Dividends Income Statement Impact
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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us-gaap Net Income Loss Available To Common Stockholders Diluted
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CY2020Q3 us-gaap Weighted Average Number Of Shares Issued Basic
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us-gaap Weighted Average Number Of Shares Issued Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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110389
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
85380
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
101931
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
87111
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69591848
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54555672
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
65952113
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51151462
CY2021Q3 adc Net Finance Lease Liability Payments Year Four
NetFinanceLeaseLiabilityPaymentsYearFour
0
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;"><b style="font-style:normal;font-weight:bold;text-decoration:underline;">Reclassifications</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Certain reclassifications of prior period amounts have been made in the consolidated financial statements and footnotes in order to conform to the current presentation.  </p>
CY2021Q3 adc Operating Lease Liability Before Depreciation
OperatingLeaseLiabilityBeforeDepreciation
25000000.0
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;"><b style="font-style:normal;font-weight:bold;text-decoration:underline;">Use of Estimates</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of (1) assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, and (2) revenues and expenses during the reporting period. Actual results could differ from those estimates.</p>
us-gaap Lessor Operating Lease Existence Of Option To Extend
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true
us-gaap Lease Practical Expedients Package
LeasePracticalExpedientsPackage
true
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received
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CY2021Q3 us-gaap Deferred Revenue
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11100000
CY2020Q4 us-gaap Deferred Revenue
DeferredRevenue
6100000
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
61100000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
44500000
adc Percentage Of Portfolio Leased
PercentageOfPortfolioLeased
0.996
CY2021Q3 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P9Y6M
adc Percentage Of Annualized Base Rent Derived
PercentageOfAnnualizedBaseRentDerived
0.669
CY2021Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
91205000
CY2020Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
65762000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
256246000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
184144000
CY2021Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
9546000
CY2020Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
6897000
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
27090000
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
19981000
CY2021Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
81659000
CY2020Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
58865000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
229156000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
164163000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
85101000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
338867000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
332914000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
321677000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
310144000
CY2021Q3 adc Lessor Operating Lease Payment To Be Received Year Five And After Year Five
LessorOperatingLeasePaymentToBeReceivedYearFiveAndAfterYearFive
1936234000
CY2020Q4 adc Operating Lease Liability Before Depreciation
OperatingLeaseLiabilityBeforeDepreciation
17300000
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
400000
CY2020Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
300000
us-gaap Operating Lease Expense
OperatingLeaseExpense
1100000
us-gaap Operating Lease Expense
OperatingLeaseExpense
1000000.0
CY2021Q3 adc Finance Lease Right Of Use Asset Amortization And Interest Expense
FinanceLeaseRightOfUseAssetAmortizationAndInterestExpense
100000
CY2020Q3 adc Finance Lease Right Of Use Asset Amortization And Interest Expense
FinanceLeaseRightOfUseAssetAmortizationAndInterestExpense
0
adc Finance Lease Right Of Use Asset Amortization And Interest Expense
FinanceLeaseRightOfUseAssetAmortizationAndInterestExpense
200000
adc Finance Lease Right Of Use Asset Amortization And Interest Expense
FinanceLeaseRightOfUseAssetAmortizationAndInterestExpense
0
CY2021Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
282000
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
267000
us-gaap Operating Lease Payments
OperatingLeasePayments
816000
us-gaap Operating Lease Payments
OperatingLeasePayments
802000
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P33Y10M24D
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P38Y2M12D
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P33Y10M24D
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P38Y2M12D
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0413
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0413
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0413
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0413
CY2021Q3 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
64000
CY2020Q3 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
0
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
151000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
0
CY2021Q3 adc Net Finance Lease Liability Payments Year Five And After Year Five
NetFinanceLeaseLiabilityPaymentsYearFiveAndAfterYearFive
0
CY2021Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y
CY2021Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0413
CY2020Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0
CY2021Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0413
CY2020Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0
CY2021Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2020Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6302000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2021Q3 adc Right Of Use Asset Net
RightOfUseAssetNet
0
CY2020Q3 adc Right Of Use Asset Net
RightOfUseAssetNet
0
adc Right Of Use Asset Net
RightOfUseAssetNet
6302000
adc Right Of Use Asset Net
RightOfUseAssetNet
0
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
295000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1197000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1197000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1197000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1197000
CY2021Q3 adc Lessee Operating Lease Liability To Be Paid Year Five And After Year Five
LesseeOperatingLeaseLiabilityToBePaidYearFiveAndAfterYearFive
31045000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
36128000
CY2021Q3 adc Lessee Operating Lease Liability Undiscounted Excess Amount Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityUndiscountedExcessAmountRemainderOfFiscalYear
186000
CY2021Q3 adc Lessee Operating Lease Liability Undiscounted Excess Amount Next Twelve Months
LesseeOperatingLeaseLiabilityUndiscountedExcessAmountNextTwelveMonths
730000
CY2021Q3 adc Lessee Operating Lease Liability Undiscounted Excess Amount Year Two
LesseeOperatingLeaseLiabilityUndiscountedExcessAmountYearTwo
711000
CY2021Q3 adc Lessee Operating Lease Liability Undiscounted Excess Amount Year Three
LesseeOperatingLeaseLiabilityUndiscountedExcessAmountYearThree
690000
CY2021Q3 adc Lessee Operating Lease Liability Undiscounted Excess Amount Year Four
LesseeOperatingLeaseLiabilityUndiscountedExcessAmountYearFour
669000
CY2021Q3 adc Lessee Operating Lease Liability Undiscounted Excess Amount Year Five And After Year Five
LesseeOperatingLeaseLiabilityUndiscountedExcessAmountYearFiveAndAfterYearFive
15137000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
18123000
CY2021Q3 adc Net Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
NetLesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
109000
CY2021Q3 adc Net Lessee Operating Lease Liability Payments Next Twelve Months
NetLesseeOperatingLeaseLiabilityPaymentsNextTwelveMonths
467000
CY2021Q3 adc Net Lessee Operating Lease Liability Payments Year Two
NetLesseeOperatingLeaseLiabilityPaymentsYearTwo
486000
CY2021Q3 adc Net Lessee Operating Lease Liability Payments Year Three
NetLesseeOperatingLeaseLiabilityPaymentsYearThree
507000
CY2021Q3 adc Net Lessee Operating Lease Liability Payments Year Four
NetLesseeOperatingLeaseLiabilityPaymentsYearFour
528000
CY2021Q3 adc Net Lessee Operating Lease Liability Payments Year Five And After Year Five
NetLesseeOperatingLeaseLiabilityPaymentsYearFiveAndAfterYearFive
15908000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
18005000
CY2021Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
84000
CY2021Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
336000
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
336000
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
6196000
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0
CY2021Q3 adc Finance Lease Liability To Be Paid Year Five And After Year Five
FinanceLeaseLiabilityToBePaidYearFiveAndAfterYearFive
0
CY2021Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
6952000
CY2021Q3 adc Finance Lease Liability Undiscounted Excess Amount Remainder Of Fiscal Year
FinanceLeaseLiabilityUndiscountedExcessAmountRemainderOfFiscalYear
64000
CY2021Q3 adc Finance Lease Liability Undiscounted Excess Amount Next Twelve Months
FinanceLeaseLiabilityUndiscountedExcessAmountNextTwelveMonths
255000
CY2021Q3 adc Finance Lease Liability Undiscounted Excess Amount Year Two
FinanceLeaseLiabilityUndiscountedExcessAmountYearTwo
252000
CY2021Q3 adc Finance Lease Liability Undiscounted Excess Amount Year Three
FinanceLeaseLiabilityUndiscountedExcessAmountYearThree
207000
CY2021Q3 adc Finance Lease Liability Undiscounted Excess Amount Year Four
FinanceLeaseLiabilityUndiscountedExcessAmountYearFour
0
CY2021Q3 adc Finance Lease Liability Undiscounted Excess Amount Year Five And After Year Five
FinanceLeaseLiabilityUndiscountedExcessAmountYearFiveAndAfterYearFive
0
CY2021Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
6174000
adc Retail Net Lease Assets Purchased
RetailNetLeaseAssetsPurchased
219
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1075100000
CY2021Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
1338
CY2021Q3 us-gaap Land Subject To Ground Leases
LandSubjectToGroundLeases
27700000
CY2021Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
4110000000
CY2020Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
1129
CY2020Q4 us-gaap Land Subject To Ground Leases
LandSubjectToGroundLeases
22700000
CY2020Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
3300000000
CY2021Q3 adc Retail Net Lease Assets Purchased
RetailNetLeaseAssetsPurchased
80
CY2021Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
340600000
CY2021Q3 adc Number Of States Properties Located
NumberOfStatesPropertiesLocated
28
CY2021Q3 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P10Y8M12D
adc Number Of States Properties Located
NumberOfStatesPropertiesLocated
40
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P11Y10M24D
us-gaap Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
364600000
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
485800000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
215900000
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
8800000
CY2021Q3 adc Number Of Development And Partner Capital Solutions Projects Completed
NumberOfDevelopmentAndPartnerCapitalSolutionsProjectsCompleted
1
adc Number Of Development And Partner Capital Solutions Projects Construction
NumberOfDevelopmentAndPartnerCapitalSolutionsProjectsConstruction
3
adc Number Of Development And Partner Capital Solutions Projects Completed
NumberOfDevelopmentAndPartnerCapitalSolutionsProjectsCompleted
4
CY2021Q3 adc Number Of Properties Sold
NumberOfPropertiesSold
3
CY2021Q3 us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
11500000
CY2021Q3 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
3500000
adc Number Of Properties Sold
NumberOfPropertiesSold
13
us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
46800000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
13200000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2021Q3 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2020Q3 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
2900000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
4000000.0
CY2021Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1540000000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
204000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
850000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
29167000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
963000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
51026000
CY2021Q3 adc Long Term Debt Maturities Repayments Of Principal In Year Five And After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFiveAndAfterYearFive
1460629000
CY2021Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1542839000
CY2021Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
9198000
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
1533641000
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
90000000
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
180000000
us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
0
CY2020Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
0
us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
0
CY2021Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesExpense
0
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1900000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
800000
adc Additional Tax Expense Relating To True Up Expense
AdditionalTaxExpenseRelatingToTrueUpExpense
500000
us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimated Net Amount To Be Transferred
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred
300000
us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
13400000
CY2021Q3 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
1400000
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
2109000
CY2021Q3 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
0
CY2021Q3 us-gaap Derivative Assets
DerivativeAssets
2109000
CY2021Q3 us-gaap Derivative Asset Not Offset Policy Election Deduction
DerivativeAssetNotOffsetPolicyElectionDeduction
1451000
CY2021Q3 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0
CY2021Q3 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
658000
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
2880000
CY2021Q3 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
0
CY2021Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
2880000
CY2021Q3 us-gaap Derivative Liability Not Offset Policy Election Deduction
DerivativeLiabilityNotOffsetPolicyElectionDeduction
1451000
CY2021Q3 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0
CY2021Q3 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
1429000
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
2286000
CY2020Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
0
CY2020Q4 us-gaap Derivative Assets
DerivativeAssets
2286000
CY2020Q4 us-gaap Derivative Asset Not Offset Policy Election Deduction
DerivativeAssetNotOffsetPolicyElectionDeduction
1258000
CY2020Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0
CY2020Q4 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
1028000
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
16985000
CY2020Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
0
CY2020Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
16985000
CY2020Q4 us-gaap Derivative Liability Not Offset Policy Election Deduction
DerivativeLiabilityNotOffsetPolicyElectionDeduction
1258000
CY2020Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0
CY2020Q4 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
15727000

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