$ADC
AGREE REALTY CORP

2021 Form 10-K Financial Statement

#000155837022001606 Filed on February 22, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $339.3M $71.42M $248.6M
YoY Change 36.51% 36.99% 32.59%
Cost Of Revenue $39.51M $9.090M $30.50M
YoY Change 29.54% 41.59% 36.77%
Gross Profit $299.8M $62.33M $218.1M
YoY Change 37.47% 36.33% 32.02%
Gross Profit Margin 88.36% 87.27% 87.74%
Selling, General & Admin $27.01M $7.120M $22.10M
YoY Change 22.21% 71.98% 31.55%
% of Gross Profit 9.01% 11.42% 10.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $95.73M $19.70M $66.80M
YoY Change 43.31% 17.96% 12.84%
% of Gross Profit 31.93% 31.61% 30.63%
Operating Expenses $122.7M $26.81M $88.80M
YoY Change 38.22% 55.42% 42.08%
Operating Profit $190.3M $35.52M $133.1M
YoY Change 42.92% 24.76% 16.38%
Interest Expense $50.38M -$11.79M $40.10M
YoY Change 25.64% 21.17% 21.16%
% of Operating Profit 26.48% -33.19% 30.12%
Other Income/Expense, Net $0.00 $0.00 $23.00K
YoY Change -100.0%
Pretax Income $125.3M $24.02M $93.10M
YoY Change 34.56% 4.12% 14.51%
Income Tax $2.400M $260.0K $1.100M
% Of Pretax Income 1.92% 1.08% 1.18%
Net Earnings $122.3M $23.62M $91.38M
YoY Change 33.81% 4.7% 14.11%
Net Earnings / Revenue 36.03% 33.07% 36.76%
Basic Earnings Per Share $1.79 $1.76
Diluted Earnings Per Share $1.78 $420.8K $1.74
COMMON SHARES
Basic Shares Outstanding 66.80M 55.37M 51.84M
Diluted Shares Outstanding 67.14M 52.40M

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.25M $6.100M $6.100M
YoY Change 609.05% -60.9% -60.9%
Cash & Equivalents $43.25M $6.137M $6.100M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $5.676M $1.200M $1.200M
Prepaid Expenses
Receivables $53.44M $37.80M $37.80M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $102.4M $45.10M $45.10M
YoY Change 126.98% -2.38% -2.38%
LONG-TERM ASSETS
Property, Plant & Equipment $4.428B $3.349B $3.349B
YoY Change 32.24% 50.94% 49.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.998M $1.800M $1.800M
YoY Change 11.0% -93.23% -93.23%
Total Long-Term Assets $5.125B $3.841B $3.841B
YoY Change 33.41% 46.7% 46.7%
TOTAL ASSETS
Total Short-Term Assets $102.4M $45.10M $45.10M
Total Long-Term Assets $5.125B $3.841B $3.841B
Total Assets $5.227B $3.886B $3.886B
YoY Change 34.5% 45.85% 45.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $38.80M $54.10M $54.10M
YoY Change -28.29% 10.41% 64.94%
Accrued Expenses $25.00M $17.30M $17.30M
YoY Change 44.51% 6.79%
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 $105.9M $105.9M
YoY Change -23.82% 43.11% 43.11%
LONG-TERM LIABILITIES
Long-Term Debt $1.694B $1.218B $1.218B
YoY Change 39.03% 39.67% 39.67%
Other Long-Term Liabilities $33.08M $35.70M $35.70M
YoY Change -7.35% 33.71% 33.71%
Total Long-Term Liabilities $1.727B $1.254B $1.254B
YoY Change 37.71% 39.49% 39.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $80.68M $105.9M $105.9M
Total Long-Term Liabilities $1.727B $1.254B $1.254B
Total Liabilities $1.809B $1.360B $1.362B
YoY Change 32.86% 39.77% 39.63%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $6.000K
YoY Change 20.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.418B $2.524B $2.525B
YoY Change
Total Liabilities & Shareholders Equity $5.227B $3.886B $3.886B
YoY Change 34.5% 45.85% 45.85%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income $122.3M $23.62M $91.38M
YoY Change 33.81% 4.7% 14.11%
Depreciation, Depletion And Amortization $95.73M $19.70M $66.80M
YoY Change 43.31% 17.96% 12.84%
Cash From Operating Activities $246.3M $52.10M $143.0M
YoY Change 72.3% 36.39% 12.82%
INVESTING ACTIVITIES
Capital Expenditures $1.390B -$367.0M $1.310B
YoY Change 6.11% 144.34% 86.37%
Acquisitions
YoY Change
Other Investing Activities $55.53M $900.0K $46.50M
YoY Change 19.43% -97.09% -28.57%
Cash From Investing Activities -$1.387B -$366.1M -$1.300B
YoY Change 6.68% 206.87% 94.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$743.0M -$894.5M
YoY Change -16.93% 89.77%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.178B 305.8M 1.123B
YoY Change 4.89% 171.82% 112.23%
NET CHANGE
Cash From Operating Activities 246.3M 52.10M 143.0M
Cash From Investing Activities -1.387B -366.1M -1.300B
Cash From Financing Activities 1.178B 305.8M 1.123B
Net Change In Cash 37.30M -8.200M -34.20M
YoY Change -209.04% -126.11% 189.41%
FREE CASH FLOW
Cash From Operating Activities $246.3M $52.10M $143.0M
Capital Expenditures $1.390B -$367.0M $1.310B
Free Cash Flow -$1.144B $419.1M -$1.167B
YoY Change -2.0% 122.45% 102.54%

Facts In Submission

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CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51838219
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40577346
CY2021 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
118460
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
95103
CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
98740
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67139079
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52396734
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41223614
CY2021 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;text-decoration-line:underline;text-decoration-style:solid;">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>
CY2021 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;text-decoration-line:underline;text-decoration-style:solid;">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 U.S. generally accepted accounting principles (“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>
CY2021 adc Percentage Of Portfolio Leased
PercentageOfPortfolioLeased
0.00995
CY2021Q4 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P9Y3M18D
CY2021 adc Percentage Of Annualized Base Rent Derived
PercentageOfAnnualizedBaseRentDerived
0.00670
CY2021 us-gaap Lessor Operating Lease Existence Of Option To Extend
LessorOperatingLeaseExistenceOfOptionToExtend
true
CY2021 us-gaap Lease Practical Expedients Package
LeasePracticalExpedientsPackage
true
CY2021 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
352797000
CY2020 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
257390000
CY2019 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
193843000
CY2021 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
36929000
CY2020 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
28248000
CY2019 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
21137000
CY2021 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
315868000
CY2020 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
229142000
CY2019 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
172706000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
357888000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
351828000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
340612000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
328784000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
310965000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
1744997000
CY2021Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
3435074000
CY2021Q4 us-gaap Deferred Revenue
DeferredRevenue
13500000
CY2020Q4 us-gaap Deferred Revenue
DeferredRevenue
6100000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
61100000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
44500000
CY2021Q4 adc Operating Lease Liability Before Depreciation
OperatingLeaseLiabilityBeforeDepreciation
25000000.0
CY2020Q4 adc Operating Lease Liability Before Depreciation
OperatingLeaseLiabilityBeforeDepreciation
17300000
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
1600000
CY2020 us-gaap Operating Lease Expense
OperatingLeaseExpense
1300000
CY2019 us-gaap Operating Lease Expense
OperatingLeaseExpense
1200000
CY2021 adc Finance Lease Right Of Use Asset Amortization And Interest Expense
FinanceLeaseRightOfUseAssetAmortizationAndInterestExpense
200000
CY2019 adc Finance Lease Right Of Use Asset Amortization And Interest Expense
FinanceLeaseRightOfUseAssetAmortizationAndInterestExpense
0
CY2020 adc Finance Lease Right Of Use Asset Amortization And Interest Expense
FinanceLeaseRightOfUseAssetAmortizationAndInterestExpense
0
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
1112000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
1069000
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
1073000
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P33Y9M18D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P38Y3M18D
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P38Y2M12D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0413
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0413
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0413
CY2021 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
215000
CY2020 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
0
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
93000
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
0
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y9M18D
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0413
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6302000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1064000
CY2021Q4 adc Lessee Operating Lease Liability Undiscounted Excess Amount Next Twelve Months
LesseeOperatingLeaseLiabilityUndiscountedExcessAmountNextTwelveMonths
730000
CY2021Q4 adc Lessee Operating Lease Liability Undiscounted Excess Amount Year Two
LesseeOperatingLeaseLiabilityUndiscountedExcessAmountYearTwo
711000
CY2021Q4 adc Lessee Operating Lease Liability Undiscounted Excess Amount Year Three
LesseeOperatingLeaseLiabilityUndiscountedExcessAmountYearThree
690000
CY2021Q4 adc Lessee Operating Lease Liability Undiscounted Excess Amount Year Four
LesseeOperatingLeaseLiabilityUndiscountedExcessAmountYearFour
669000
CY2021Q4 adc Lessee Operating Lease Liability Undiscounted Excess Amount Year Five
LesseeOperatingLeaseLiabilityUndiscountedExcessAmountYearFive
647000
CY2021Q4 adc Lessee Operating Lease Liability Undiscounted Excess Amount After Year Five
LesseeOperatingLeaseLiabilityUndiscountedExcessAmountAfterYearFive
14491000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
17938000
CY2021Q4 adc Net Lessee Operating Lease Liability Payments Next Twelve Months
NetLesseeOperatingLeaseLiabilityPaymentsNextTwelveMonths
467000
CY2021Q4 adc Net Lessee Operating Lease Liability Payments Year Two
NetLesseeOperatingLeaseLiabilityPaymentsYearTwo
486000
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
19672000
CY2021 adc Right Of Use Asset Removed In Exchange For Real Property
RightOfUseAssetRemovedInExchangeForRealProperty
0
CY2020 adc Right Of Use Asset Removed In Exchange For Real Property
RightOfUseAssetRemovedInExchangeForRealProperty
0
CY2019 adc Right Of Use Asset Removed In Exchange For Real Property
RightOfUseAssetRemovedInExchangeForRealProperty
3025000
CY2021 adc Right Of Use Asset Net
RightOfUseAssetNet
6302000
CY2020 adc Right Of Use Asset Net
RightOfUseAssetNet
0
CY2019 adc Right Of Use Asset Net
RightOfUseAssetNet
16647000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1197000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1197000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1197000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1197000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1195000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
29850000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
35833000
CY2021Q4 adc Net Lessee Operating Lease Liability Payments Year Three
NetLesseeOperatingLeaseLiabilityPaymentsYearThree
507000
CY2021Q4 adc Net Lessee Operating Lease Liability Payments Year Four
NetLesseeOperatingLeaseLiabilityPaymentsYearFour
528000
CY2021Q4 adc Net Lessee Operating Lease Liability Payments Year Five
NetLesseeOperatingLeaseLiabilityPaymentsYearFive
548000
CY2021Q4 adc Net Lessee Operating Lease Liability Payments After Year Five
NetLesseeOperatingLeaseLiabilityPaymentsAfterYearFive
15359000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
17895000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
336000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
336000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
6252000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0
CY2021Q4 adc Finance Lease Liability To Be Paid Year Five And After Year Five
FinanceLeaseLiabilityToBePaidYearFiveAndAfterYearFive
0
CY2021Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
6924000
CY2021Q4 adc Finance Lease Liability Undiscounted Excess Amount Next Twelve Months
FinanceLeaseLiabilityUndiscountedExcessAmountNextTwelveMonths
255000
CY2021Q4 adc Finance Lease Liability Undiscounted Excess Amount Year Two
FinanceLeaseLiabilityUndiscountedExcessAmountYearTwo
252000
CY2021Q4 adc Finance Lease Liability Undiscounted Excess Amount Year Three
FinanceLeaseLiabilityUndiscountedExcessAmountYearThree
207000
CY2021Q4 adc Finance Lease Liability Undiscounted Excess Amount Year Four
FinanceLeaseLiabilityUndiscountedExcessAmountYearFour
0
CY2021Q4 adc Finance Lease Liability Undiscounted Excess Amount Year Five
FinanceLeaseLiabilityUndiscountedExcessAmountYearFive
0
CY2021Q4 adc Finance Lease Liability Undiscounted Excess Amount Year Five And After Year Five
FinanceLeaseLiabilityUndiscountedExcessAmountYearFiveAndAfterYearFive
0
CY2021Q4 adc Finance Leases Liability Undiscounted Excess Amount
FinanceLeasesLiabilityUndiscountedExcessAmount
714000
CY2021Q4 adc Net Finance Lease Liability Payments Next Twelve Months
NetFinanceLeaseLiabilityPaymentsNextTwelveMonths
81000
CY2021Q4 adc Net Finance Lease Liability Payments Year Two
NetFinanceLeaseLiabilityPaymentsYearTwo
84000
CY2021Q4 adc Net Finance Lease Liability Payments Year Three
NetFinanceLeaseLiabilityPaymentsYearThree
6045000
CY2021Q4 adc Net Finance Lease Liability Payments Year Four
NetFinanceLeaseLiabilityPaymentsYearFour
0
CY2021Q4 adc Net Finance Lease Liability Payments Year Five
NetFinanceLeaseLiabilityPaymentsYearFive
0
CY2021Q4 adc Net Finance Lease Liability Payments Year Five And After Year Five
NetFinanceLeaseLiabilityPaymentsYearFiveAndAfterYearFive
0
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
6210000
CY2021Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
1404
CY2021Q4 us-gaap Land Subject To Ground Leases
LandSubjectToGroundLeases
29100000
CY2021Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
4370000000
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
CY2021 adc Retail Net Lease Assets Purchased
RetailNetLeaseAssetsPurchased
290
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1390000000
CY2021 adc Number Of States Properties Located
NumberOfStatesPropertiesLocated
43
CY2021 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P11Y6M
CY2021 us-gaap Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
476800000
CY2021 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
654300000
CY2021 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
250700000
CY2021 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
8800000
CY2020 adc Retail Net Lease Assets Purchased
RetailNetLeaseAssetsPurchased
317
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1310000000
CY2020 adc Number Of States Properties Located
NumberOfStatesPropertiesLocated
39
CY2020 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P11Y3M18D
CY2020 us-gaap Payments To Acquire Land Held For Use
PaymentsToAcquireLandHeldForUse
386900000
CY2020 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
768200000
CY2020 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
158100000
CY2021 adc Number Of Development And Partner Capital Solutions Projects Completed
NumberOfDevelopmentAndPartnerCapitalSolutionsProjectsCompleted
4
CY2020 adc Number Of Development And Partner Capital Solutions Projects Completed
NumberOfDevelopmentAndPartnerCapitalSolutionsProjectsCompleted
9
CY2021 adc Number Of Development And Partner Capital Solutions Projects Construction
NumberOfDevelopmentAndPartnerCapitalSolutionsProjectsConstruction
3
CY2021 us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
56000000.0
CY2021 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
14900000
CY2020 us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
47700000
CY2020 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
8000000.0
CY2019 us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
65500000
CY2019 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
13300000
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
1900000
CY2020 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
4100000
CY2019 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
1600000
CY2020Q4 adc Impaired Real Estate Estate Fair Value
ImpairedRealEstateEstateFairValue
11900000
CY2019Q4 adc Impaired Real Estate Estate Fair Value
ImpairedRealEstateEstateFairValue
3000000.0
CY2021Q4 adc Impaired Real Estate Estate Fair Value
ImpairedRealEstateEstateFairValue
1000000.0
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1700000000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
850000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
29167000
CY2021Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
2.604
CY2020Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
2.405
CY2019Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
2.280
CY2021Q4 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
0.08854
CY2019Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
2.280
CY2021Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
2.604
CY2020Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
2.405
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
963000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
51026000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
160629000
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1460000000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1702635000
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
8923000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
1693712000
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
90000000
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
180000000
CY2018Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
500000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2400000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1100000
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
500000
CY2021 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
500000
CY2021 us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimated Net Amount To Be Transferred
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred
400000
CY2021 us-gaap Reclassification From Aoci Current Period Before Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodBeforeTaxAttributableToParent
13400000
CY2021Q4 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
1700000
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
1868000
CY2021Q4 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
0
CY2021Q4 us-gaap Derivative Assets
DerivativeAssets
1868000
CY2021Q4 us-gaap Derivative Asset Not Offset Policy Election Deduction
DerivativeAssetNotOffsetPolicyElectionDeduction
1679000
CY2021Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0
CY2021Q4 us-gaap Derivative Asset Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeAssetFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
189000
CY2021Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
3335000
CY2021Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
0
CY2021Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
3335000
CY2021Q4 us-gaap Derivative Liability Not Offset Policy Election Deduction
DerivativeLiabilityNotOffsetPolicyElectionDeduction
1679000
CY2021Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0
CY2021Q4 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
DerivativeLiabilityFairValueOffsetAgainstCollateralNetOfNotSubjectToMasterNettingArrangementPolicyElection
1656000
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
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
0

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