2023 Q2 Form 10-Q Financial Statement

#000156918723000046 Filed on May 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $165.9M $144.2M
YoY Change 65.12% 81.84%
Cost Of Revenue $118.4M $99.54M
YoY Change 91.12% 137.6%
Gross Profit $46.56M $43.35M
YoY Change 20.76% 15.95%
Gross Profit Margin 28.06% 30.07%
Selling, General & Admin $4.052M $5.448M
YoY Change 12.03% 15.72%
% of Gross Profit 8.7% 12.57%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.22M $14.11M
YoY Change 6.12% 3.49%
% of Gross Profit 43.44% 32.56%
Operating Expenses $24.28M $24.19M
YoY Change 7.07% 2.76%
Operating Profit $23.78M $20.34M
YoY Change -32.19% 47.48%
Interest Expense $13.63M $12.30M
YoY Change 45.44% 36.22%
% of Operating Profit 57.32% 60.49%
Other Income/Expense, Net $168.0K $93.00K
YoY Change 147.06% -59.39%
Pretax Income $15.22M $5.605M
YoY Change -50.5% -53.19%
Income Tax $336.0K $188.0K
% Of Pretax Income 2.21% 3.35%
Net Earnings $11.86M $4.709M
YoY Change -50.9% -52.88%
Net Earnings / Revenue 7.15% 3.27%
Basic Earnings Per Share $0.13 $0.03
Diluted Earnings Per Share $0.13 $0.03
COMMON SHARES
Basic Shares Outstanding 67.94M shares 67.71M shares
Diluted Shares Outstanding 67.90M shares 67.79M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $34.05M $33.82M
YoY Change -51.16% 2.76%
Cash & Equivalents $34.05M $33.82M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $41.43M $38.20M
Other Receivables $93.88M $66.44M
Total Short-Term Assets $169.4M $138.4M
YoY Change -31.37% -15.38%
LONG-TERM ASSETS
Property, Plant & Equipment $1.924B $1.688B
YoY Change 17.58% -3.27%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $102.4M $93.08M
YoY Change 92.21% 348.0%
Other Assets $2.043M $2.619M
YoY Change -69.42% -60.17%
Total Long-Term Assets $2.302B $2.094B
YoY Change 14.01% 0.25%
TOTAL ASSETS
Total Short-Term Assets $169.4M $138.4M
Total Long-Term Assets $2.302B $2.094B
Total Assets $2.471B $2.232B
YoY Change 9.07% -0.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.26M $19.05M
YoY Change 6.02% -20.08%
Accrued Expenses $31.61M $31.65M
YoY Change -0.11% -0.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.908M $7.366M
YoY Change -67.37% -59.0%
Total Short-Term Liabilities $163.2M $135.2M
YoY Change -18.85% -8.66%
LONG-TERM LIABILITIES
Long-Term Debt $1.353B $1.152B
YoY Change 21.67% -1.14%
Other Long-Term Liabilities $73.28M $70.55M
YoY Change 10.7% 0.78%
Total Long-Term Liabilities $1.426B $1.223B
YoY Change 21.06% -1.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $163.2M $135.2M
Total Long-Term Liabilities $1.426B $1.223B
Total Liabilities $1.589B $1.358B
YoY Change 15.24% -1.85%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $589.7M $589.4M
YoY Change 0.17% 0.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $632.1M $634.7M
YoY Change
Total Liabilities & Shareholders Equity $2.471B $2.232B
YoY Change 9.07% -0.89%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $11.86M $4.709M
YoY Change -50.9% -52.88%
Depreciation, Depletion And Amortization $20.22M $14.11M
YoY Change 6.12% 3.49%
Cash From Operating Activities $27.41M $13.06M
YoY Change 38.24% -57.31%
INVESTING ACTIVITIES
Capital Expenditures $26.67M $22.58M
YoY Change -281.49% -118.42%
Acquisitions
YoY Change
Other Investing Activities -$25.23M -$28.77M
YoY Change -138.59% 91.01%
Cash From Investing Activities -$51.90M -$51.34M
YoY Change -202.41% -62.69%
FINANCING ACTIVITIES
Cash Dividend Paid $19.67M
YoY Change 15.09%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 24.15M $22.86M
YoY Change -171.94% -78.45%
NET CHANGE
Cash From Operating Activities 27.41M $13.06M
Cash From Investing Activities -51.90M -$51.34M
Cash From Financing Activities 24.15M $22.86M
Net Change In Cash -339.0K -$15.43M
YoY Change -100.92% 1512.23%
FREE CASH FLOW
Cash From Operating Activities $27.41M $13.06M
Capital Expenditures $26.67M $22.58M
Free Cash Flow $738.0K -$9.523M
YoY Change -97.86% -106.22%

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ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
20785000 usd
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2169000 usd
CY2022Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
16502000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
904014000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
5417000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-426000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
2922000 usd
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
-149000 usd
CY2023Q1 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
979000 usd
CY2023Q1 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
12834000 usd
CY2023Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
506000 usd
CY2023Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
2887000 usd
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.19
CY2023Q1 us-gaap Dividends Common Stock
DividendsCommonStock
16824000 usd
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
873862000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
779823000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
12276000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
7722000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-787000 usd
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
65194000 usd
CY2022Q1 us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
23065000 usd
CY2022Q1 us-gaap Restricted Stock Value Shares Issued Net Of Tax Withholdings
RestrictedStockValueSharesIssuedNetOfTaxWithholdings
1064000 usd
CY2022Q1 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
3901000 usd
CY2022Q1 us-gaap Partners Capital Account Redemptions
PartnersCapitalAccountRedemptions
0 usd
CY2022Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
2887000 usd
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.17
CY2022Q1 us-gaap Dividends Common Stock
DividendsCommonStock
14939000 usd
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
868204000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
5417000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
12276000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
14114000 usd
CY2022Q1 us-gaap Depreciation
Depreciation
13638000 usd
CY2023Q1 ahh Amortization Of Leasing Costs And In Place Lease Intangibles
AmortizationOfLeasingCostsAndInPlaceLeaseIntangibles
4354000 usd
CY2022Q1 ahh Amortization Of Leasing Costs And In Place Lease Intangibles
AmortizationOfLeasingCostsAndInPlaceLeaseIntangibles
4919000 usd
CY2023Q1 us-gaap Straight Line Rent
StraightLineRent
1455000 usd
CY2022Q1 us-gaap Straight Line Rent
StraightLineRent
1492000 usd
CY2023Q1 ahh Amortization Of Lease Incentives And Above And Below Market Rents
AmortizationOfLeaseIncentivesAndAboveAndBelowMarketRents
-292000 usd
CY2022Q1 ahh Amortization Of Lease Incentives And Above And Below Market Rents
AmortizationOfLeaseIncentivesAndAboveAndBelowMarketRents
-264000 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
277000 usd
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
278000 usd
CY2023Q1 ahh Amortization Of Ground Leases
AmortizationOfGroundLeases
20000 usd
CY2022Q1 ahh Amortization Of Ground Leases
AmortizationOfGroundLeases
48000 usd
CY2023Q1 ahh Finance Receivable Allowance For Credit Loss And Off Balance Sheet Credit Loss Liability Expense Reversal
FinanceReceivableAllowanceForCreditLossAndOffBalanceSheetCreditLossLiabilityExpenseReversal
77000 usd
CY2022Q1 ahh Finance Receivable Allowance For Credit Loss And Off Balance Sheet Credit Loss Liability Expense Reversal
FinanceReceivableAllowanceForCreditLossAndOffBalanceSheetCreditLossLiabilityExpenseReversal
605000 usd
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
252000 usd
CY2022Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
241000 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1846000 usd
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1609000 usd
CY2023Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
102000 usd
CY2022Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
47000 usd
CY2023Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
2261000 usd
CY2022Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
909000 usd
CY2023Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 usd
CY2022Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-158000 usd
CY2023Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-3807000 usd
CY2022Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
4182000 usd
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-4167000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-69000 usd
CY2023Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-3817000 usd
CY2022Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-4781000 usd
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-2493000 usd
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
9779000 usd
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-16859000 usd
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
17067000 usd
CY2023Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
3709000 usd
CY2022Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
784000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
13055000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
30582000 usd
CY2023Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
15264000 usd
CY2022Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
28675000 usd
CY2023Q1 us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
7314000 usd
CY2022Q1 us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
727000 usd
CY2023Q1 us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
0 usd
CY2022Q1 us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
93162000 usd
CY2023Q1 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
6699000 usd
CY2022Q1 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
17651000 usd
CY2023Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0 usd
CY2022Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
11545000 usd
CY2023Q1 us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
950000 usd
CY2022Q1 us-gaap Payments For Leasing Costs
PaymentsForLeasingCosts
862000 usd
CY2023Q1 ahh Payments For Lease Incentives
PaymentsForLeaseIncentives
20000 usd
CY2022Q1 ahh Payments For Lease Incentives
PaymentsForLeaseIncentives
0 usd
CY2023Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
21097000 usd
CY2022Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
8092000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-51344000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-137624000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
-149000 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
65194000 usd
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1105000 usd
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
773000 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
46710000 usd
CY2022Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
284113000 usd
CY2023Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
2417000 usd
CY2022Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
218354000 usd
CY2023Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
CY2022Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
3100000 usd
CY2023Q1 ahh Payments To Acquire Noncontrolling Interests In Consolidated Investments
PaymentsToAcquireNoncontrollingInterestsInConsolidatedInvestments
0 usd
CY2022Q1 ahh Payments To Acquire Noncontrolling Interests In Consolidated Investments
PaymentsToAcquireNoncontrollingInterestsInConsolidatedInvestments
3901000 usd
CY2023Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
506000 usd
CY2022Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 usd
CY2023Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
19673000 usd
CY2022Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
17094000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
22860000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
106085000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-15429000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-957000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51865000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40443000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36436000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39486000 usd
CY2023Q1 ahh Change In Dividends Payable
ChangeInDividendsPayable
38000 usd
CY2022Q1 ahh Change In Dividends Payable
ChangeInDividendsPayable
732000 usd
CY2023Q1 ahh Change In Capital Expenditures Incurred But Not Yet Paid
ChangeInCapitalExpendituresIncurredButNotYetPaid
-3683000 usd
CY2022Q1 ahh Change In Capital Expenditures Incurred But Not Yet Paid
ChangeInCapitalExpendituresIncurredButNotYetPaid
-4664000 usd
CY2023Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
0 usd
CY2022Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
132000 usd
CY2023Q1 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
0 usd
CY2022Q1 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
156071000 usd
CY2023Q1 us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
12834000 usd
CY2022Q1 us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
23065000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
33817000 usd
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32910000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2619000 usd
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
6576000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36436000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39486000 usd
CY2023Q1 us-gaap Number Of Properties Subject To Ground Leases
NumberOfPropertiesSubjectToGroundLeases
7 property
CY2023Q1 ahh Number Of Operating Leases
NumberOfOperatingLeases
5 lease
CY2023Q1 ahh Number Of Finance Leases
NumberOfFinanceLeases
3 lease
CY2022Q4 ahh Percentage Of Ownership Interests In Operating Partnership
PercentageOfOwnershipInterestsInOperatingPartnership
0.767
CY2023Q1 ahh Percentage Of Ownership Interests In Operating Partnership
PercentageOfOwnershipInterestsInOperatingPartnership
0.767
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed. Such estimates are based on management’s historical experience and best judgment after considering past, current, and expected events and economic conditions. Actual results could differ significantly from management’s estimates.</span></div>
CY2023Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reclassifications</span></div><div><span><br/></span></div><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain items have been reclassified from their prior year classifications to conform to the current year presentation. Effective for the three months ended March 31, 2023, the Company has changed the presentation of its Consolidated Statements of Comprehensive Income. For the three months ended March 31, 2022, the Company reclassified interest income of $3.6 million from non-operating income to operating income. As a result, total revenues and operating income increased by $3.6 million compared to previous reporting. These reclassifications had no effect on net income or stockholder's equity as previously reported.</span></div>
CY2023Q1 ahh Lessor Operating Lease Option To Extend Number
LessorOperatingLeaseOptionToExtendNumber
1 renewal_options
CY2023Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
54471000 usd
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
5 segment
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
5 segment
CY2023Q1 us-gaap Gross Profit
GrossProfit
43353000 usd
CY2022Q1 us-gaap Gross Profit
GrossProfit
40025000 usd
CY2023Q1 ahh Number Of Ground Leases
NumberOfGroundLeases
8 lease
CY2022Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
52879000 usd
CY2023Q1 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
-1455000 usd
CY2022Q1 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
-1492000 usd
CY2023Q1 us-gaap Operating Lease Initial Direct Cost Expense Over Term
OperatingLeaseInitialDirectCostExpenseOverTerm
165000 usd
CY2022Q1 us-gaap Operating Lease Initial Direct Cost Expense Over Term
OperatingLeaseInitialDirectCostExpenseOverTerm
173000 usd
CY2023Q1 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-457000 usd
CY2022Q1 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-437000 usd
CY2023Q1 us-gaap Lease Income
LeaseIncome
56218000 usd
CY2022Q1 us-gaap Lease Income
LeaseIncome
54635000 usd
CY2023Q1 ahh Financing Receivable Guarantee Premium
FinancingReceivableGuaranteePremium
386000 usd
CY2022Q4 ahh Financing Receivable Guarantee Premium
FinancingReceivableGuaranteePremium
701000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1495000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1292000 usd
CY2023Q1 us-gaap Notes Receivable Net
NotesReceivableNet
133082000 usd
CY2022Q4 us-gaap Notes Receivable Net
NotesReceivableNet
136039000 usd
CY2023Q1 us-gaap Interest Income Operating
InterestIncomeOperating
3719000 usd
CY2022Q1 us-gaap Interest Income Operating
InterestIncomeOperating
3568000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Policy For Uncollectible Amounts
FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts
<div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Allowance for Loan Losses</span></div><div><span><br/></span></div><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is exposed to credit losses primarily through its mezzanine lending activities and preferred equity investments. As of March 31, 2023, the Company had three mezzanine loans (including the City Park 2 and Solis Gainesville II preferred equity investments that are accounted for as notes receivable), each of which are financing development projects in various stages of completion or lease-up. Each of these projects is subject to a loan that is senior to the Company’s mezzanine loan. Interest on these loans is paid in kind and is generally not expected to be paid until a sale of the project after completion of the development.</span></div><div style="padding-left:18pt"><span><br/></span></div><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's management performs a quarterly analysis of the loan portfolio to determine the risk of credit loss based on</span></div><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the progress of development activities, including leasing activities, projected development costs, and current and projected</span></div><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">mezzanine and senior construction loan balances. The Company estimates future losses on its notes receivable using risk</span></div><div style="padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ratings that correspond to probabilities of default and loss given default. The Company's risk ratings are as follows:</span></div><div style="padding-left:18pt"><span><br/></span></div><div style="padding-left:54pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Pass: loans in this category are adequately collateralized by a development project with conditions materially consistent with the Company's underwriting assumptions.</span></div><div style="padding-left:54pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Special Mention: loans in this category show signs that the economic performance of the project may suffer as a result of slower-than-expected leasing activity or an extended development or marketing timeline. Loans in this category warrant increased monitoring by management.</span></div><div style="padding-left:54pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Substandard: loans in this category may not be fully collected by the Company unless remediation actions are taken. Remediation actions may include obtaining additional collateral or assisting the borrower with asset management activities to prepare the project for sale. The Company will also consider placing the loan on non-accrual status if it does not believe that additional interest accruals will ultimately be collected.</span></div>
CY2023Q1 ahh Finance Receivable Allowance For Credit Loss And Off Balance Sheet Credit Loss Liability
FinanceReceivableAllowanceForCreditLossAndOffBalanceSheetCreditLossLiability
1700000 usd
CY2023Q1 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
200000 usd
CY2023Q1 us-gaap Notes Receivable Net
NotesReceivableNet
133100000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1500000 usd
CY2022Q4 us-gaap Notes Receivable Net
NotesReceivableNet
136000000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1300000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1292000 usd
CY2022Q4 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
338000 usd
CY2022Q4 ahh Finance Receivable Allowance For Credit Loss And Off Balance Sheet Credit Loss Liability
FinanceReceivableAllowanceForCreditLossAndOffBalanceSheetCreditLossLiability
1630000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
994000 usd
CY2021Q4 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
10000 usd
CY2021Q4 ahh Finance Receivable Allowance For Credit Loss And Off Balance Sheet Credit Loss Liability
FinanceReceivableAllowanceForCreditLossAndOffBalanceSheetCreditLossLiability
1004000 usd
CY2023Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
203000 usd
CY2023Q1 us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal
-140000 usd
CY2023Q1 ahh Finance Receivable Allowance For Credit Loss And Off Balance Sheet Credit Loss Liability Period Increase Decrease
FinanceReceivableAllowanceForCreditLossAndOffBalanceSheetCreditLossLiabilityPeriodIncreaseDecrease
63000 usd
CY2022Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
184000 usd
CY2022Q1 us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal
421000 usd
CY2022Q1 ahh Finance Receivable Allowance For Credit Loss And Off Balance Sheet Credit Loss Liability Period Increase Decrease
FinanceReceivableAllowanceForCreditLossAndOffBalanceSheetCreditLossLiabilityPeriodIncreaseDecrease
605000 usd
CY2023Q1 us-gaap Construction Contractor Receivable Retainage
ConstructionContractorReceivableRetainage
17500000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1495000 usd
CY2023Q1 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
198000 usd
CY2023Q1 ahh Finance Receivable Allowance For Credit Loss And Off Balance Sheet Credit Loss Liability
FinanceReceivableAllowanceForCreditLossAndOffBalanceSheetCreditLossLiability
1693000 usd
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1178000 usd
CY2022Q1 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
431000 usd
CY2022Q1 ahh Finance Receivable Allowance For Credit Loss And Off Balance Sheet Credit Loss Liability
FinanceReceivableAllowanceForCreditLossAndOffBalanceSheetCreditLossLiability
1609000 usd
CY2023Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
0 usd
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
342000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
17515000 usd
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
243000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4881000 usd
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
17515000 usd
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4881000 usd
CY2023Q1 ahh Contract With Customer Liability Increase From Billings
ContractWithCustomerLiabilityIncreaseFromBillings
17150000 usd
CY2022Q1 ahh Contract With Customer Liability Increase From Billings
ContractWithCustomerLiabilityIncreaseFromBillings
15055000 usd
CY2023Q1 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
347000 usd
CY2022Q1 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
266000 usd
CY2023Q1 ahh Contract With Customer Asset Costs And Earnings Not Billed
ContractWithCustomerAssetCostsAndEarningsNotBilled
1206000 usd
CY2022Q1 ahh Contract With Customer Asset Costs And Earnings Not Billed
ContractWithCustomerAssetCostsAndEarningsNotBilled
121000 usd
CY2023Q1 us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
5000 usd
CY2023Q1 us-gaap Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
414000 usd
CY2022Q1 us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
23000 usd
CY2022Q1 us-gaap Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
1000 usd
CY2023Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1206000 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
16736000 usd
CY2022Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
121000 usd
CY2022Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
15054000 usd
CY2022Q4 us-gaap Construction Contractor Receivable Retainage
ConstructionContractorReceivableRetainage
8300000 usd
CY2023Q1 ahh Costs On Uncompleted Contracts
CostsOnUncompletedContracts
400028000 usd
CY2022Q4 ahh Costs On Uncompleted Contracts
CostsOnUncompletedContracts
571465000 usd
CY2023Q1 ahh Estimated Earnings On Uncompleted Contracts
EstimatedEarningsOnUncompletedContracts
14280000 usd
CY2022Q4 ahh Estimated Earnings On Uncompleted Contracts
EstimatedEarningsOnUncompletedContracts
22162000 usd
CY2023Q1 ahh Billed Construction Contracts
BilledConstructionContracts
429838000 usd
CY2022Q4 ahh Billed Construction Contracts
BilledConstructionContracts
610800000 usd
CY2023Q1 ahh Uncompleted Contracts Net Assets
UncompletedContractsNetAssets
-15530000 usd
CY2022Q4 ahh Uncompleted Contracts Net Assets
UncompletedContractsNetAssets
-17173000 usd
CY2023Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1206000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
342000 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
16736000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
17515000 usd
CY2023Q1 ahh Uncompleted Contracts Net Assets
UncompletedContractsNetAssets
-15530000 usd
CY2022Q4 ahh Uncompleted Contracts Net Assets
UncompletedContractsNetAssets
-17173000 usd
CY2022Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
665564000 usd
CY2021Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
215518000 usd
CY2023Q1 ahh Revenue Remaining Performance Obligation New Or Modified Contracts
RevenueRemainingPerformanceObligationNewOrModifiedContracts
70792000 usd
CY2022Q1 ahh Revenue Remaining Performance Obligation New Or Modified Contracts
RevenueRemainingPerformanceObligationNewOrModifiedContracts
228603000 usd
CY2023Q1 ahh Revenue Remaining Performance Obligation Work Performed
RevenueRemainingPerformanceObligationWorkPerformed
84516000 usd
CY2022Q1 ahh Revenue Remaining Performance Obligation Work Performed
RevenueRemainingPerformanceObligationWorkPerformed
24682000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
651840000 usd
CY2022Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
419439000 usd
CY2023Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
10400000 usd
CY2023Q1 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
1203951000 usd
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
21338000 usd
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
990000 usd
CY2022Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
1288349000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
29115000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
0 usd
CY2023Q1 ahh Derivative Change In Fair Value Gain Loss
DerivativeChangeInFairValueGainLoss
-4230000 usd
CY2022Q1 ahh Derivative Change In Fair Value Gain Loss
DerivativeChangeInFairValueGainLoss
11939000 usd
CY2023Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
-3804000 usd
CY2022Q1 us-gaap Derivative Instruments Not Designated As Hedging Instruments Gain Loss Net
DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet
4217000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-426000 usd
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
1800000 usd
CY2022Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
7722000 usd
CY2023Q1 ahh Derivative Change In Fair Value Gain Loss
DerivativeChangeInFairValueGainLoss
-4230000 usd
CY2022Q1 ahh Derivative Change In Fair Value Gain Loss
DerivativeChangeInFairValueGainLoss
11939000 usd
CY2022Q4 ahh Percentage Of Ownership Interests In Operating Partnership
PercentageOfOwnershipInterestsInOperatingPartnership
0.767
CY2023Q1 ahh Percentage Of Ownership Interests In Operating Partnership
PercentageOfOwnershipInterestsInOperatingPartnership
0.767
CY2023Q1 us-gaap Preferred Stock Value
PreferredStockValue
171100000 usd
CY2022Q4 ahh Percentage Of Ownership Interests In Operating Partnership
PercentageOfOwnershipInterestsInOperatingPartnership
0.767
CY2023Q1 ahh Percentage Of Ownership Interests In Operating Partnership
PercentageOfOwnershipInterestsInOperatingPartnership
0.767
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
2100000 usd
CY2023Q1 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
10300000 usd
CY2022Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
11000000 usd
CY2022Q4 us-gaap Contractual Obligation
ContractualObligation
8500000 usd
CY2023Q1 us-gaap Contractual Obligation
ContractualObligation
8500000 usd
CY2023Q1 ahh Number Of Notes Receivable
NumberOfNotesReceivable
3 note_receivable
CY2023Q1 us-gaap Off Balance Sheet Credit Loss Liability
OffBalanceSheetCreditLossLiability
200000 usd

Files In Submission

Name View Source Status
ahh-20230331_pre.xml Edgar Link unprocessable
ahh-20230331_def.xml Edgar Link unprocessable
ahh-20230331_cal.xml Edgar Link unprocessable
ahh-20230331_lab.xml Edgar Link unprocessable
0001569187-23-000046-index-headers.html Edgar Link pending
0001569187-23-000046-index.html Edgar Link pending
0001569187-23-000046.txt Edgar Link pending
0001569187-23-000046-xbrl.zip Edgar Link pending
a2023q1ex311.htm Edgar Link pending
a2023q1ex312.htm Edgar Link pending
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ahh-20230331.htm Edgar Link pending
ahh-20230331.xsd Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
ahh-20230331_htm.xml Edgar Link completed
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