$AKR
ACADIA REALTY TRUST

2019 Q3 Form 10-Q Financial Statement

#000156459019037806 Filed on October 25, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3
Revenue $73.33M $65.53M
YoY Change 11.9% 4.55%
Cost Of Revenue $23.41M $21.65M
YoY Change 8.13% 18.7%
Gross Profit $49.92M $43.88M
YoY Change 13.76% -1.26%
Gross Profit Margin 68.08% 66.96%
Selling, General & Admin $8.220M $7.980M
YoY Change 3.01% 0.38%
% of Gross Profit 16.47% 18.19%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $32.20M $28.70M
YoY Change 12.2% 7.89%
% of Gross Profit 64.5% 65.41%
Operating Expenses $64.12M $58.58M
YoY Change 9.46% 2.89%
Operating Profit $21.27M $12.06M
YoY Change 76.4% 109.87%
Interest Expense -$16.06M -$14.19M
YoY Change 13.18% 185.51%
% of Operating Profit -75.52% -117.71%
Other Income/Expense, Net $5.030M $0.00
YoY Change
Pretax Income $10.24M -$2.133M
YoY Change -580.22% -374.16%
Income Tax $1.403M $464.0K
% Of Pretax Income 13.7%
Net Earnings $8.840M -$2.597M
YoY Change -440.39% -119.55%
Net Earnings / Revenue 12.06% -3.96%
Basic Earnings Per Share $0.12 $0.11
Diluted Earnings Per Share $0.12 $0.11
COMMON SHARES
Basic Shares Outstanding 84.89M 81.57M
Diluted Shares Outstanding 84.89M 81.57M

Balance Sheet

Concept 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $48.10M $9.500M
YoY Change 406.32% -80.33%
Cash & Equivalents $27.77M $9.525M
Short-Term Investments
Other Short-Term Assets $18.30M $17.90M
YoY Change 2.23% -1.65%
Inventory $250.3M $189.4M
Prepaid Expenses
Receivables $69.00M $73.90M
Other Receivables $14.00M $11.50M
Total Short-Term Assets $399.7M $302.2M
YoY Change 32.26% -21.49%
LONG-TERM ASSETS
Property, Plant & Equipment $3.288B $3.028B
YoY Change 8.61% 4.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $372.5M $301.7M
YoY Change 23.47% 11.66%
Other Assets $45.00M $40.60M
YoY Change 10.84% -72.46%
Total Long-Term Assets $3.930B $3.617B
YoY Change 8.66% -2.47%
TOTAL ASSETS
Total Short-Term Assets $399.7M $302.2M
Total Long-Term Assets $3.930B $3.617B
Total Assets $4.330B $3.919B
YoY Change 10.48% -4.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $71.70M $63.40M
YoY Change 13.09% 9.31%
Accrued Expenses $57.10M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $182.0M $113.1M
YoY Change 60.92% 3.19%
LONG-TERM LIABILITIES
Long-Term Debt $1.744B $1.553B
YoY Change 12.29% -7.21%
Other Long-Term Liabilities $174.6M $129.1M
YoY Change 35.24% -7.92%
Total Long-Term Liabilities $1.918B $1.682B
YoY Change 14.05% -7.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $182.0M $113.1M
Total Long-Term Liabilities $1.918B $1.682B
Total Liabilities $2.100B $1.795B
YoY Change 17.0% -6.67%
SHAREHOLDERS EQUITY
Retained Earnings -$129.0M -$73.99M
YoY Change 74.38% 143.99%
Common Stock $1.693B $1.546B
YoY Change 9.46% -3.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.520B $1.486B
YoY Change
Total Liabilities & Shareholders Equity $4.330B $3.919B
YoY Change 10.48% -4.26%

Cashflow Statement

Concept 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $8.840M -$2.597M
YoY Change -440.39% -119.55%
Depreciation, Depletion And Amortization $32.20M $28.70M
YoY Change 12.2% 7.89%
Cash From Operating Activities $33.00M $18.20M
YoY Change 81.32% 17.42%
INVESTING ACTIVITIES
Capital Expenditures -$139.7M -$83.00M
YoY Change 68.31% -16.08%
Acquisitions
YoY Change
Other Investing Activities $13.60M $29.20M
YoY Change -53.42% -47.58%
Cash From Investing Activities -$126.1M -$53.80M
YoY Change 134.39% 24.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 108.0M 26.60M
YoY Change 306.02% -14.19%
NET CHANGE
Cash From Operating Activities 33.00M 18.20M
Cash From Investing Activities -126.1M -53.80M
Cash From Financing Activities 108.0M 26.60M
Net Change In Cash 14.90M -9.000M
YoY Change -265.56% -372.73%
FREE CASH FLOW
Cash From Operating Activities $33.00M $18.20M
Capital Expenditures -$139.7M -$83.00M
Free Cash Flow $172.7M $101.2M
YoY Change 70.65% -11.54%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Use Of Estimates
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<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">GAAP requires the Company’s management to make estimates and assumptions that affect the amounts reported in the interim consolidated financial statements and accompanying notes. The most significant assumptions and estimates relate to the valuation of real estate, depreciable lives, revenue recognition and the collectability of notes receivable and rents receivable. Application of these estimates and assumptions requires the exercise of judgment as to future uncertainties and, as a result, actual results could differ from these estimates.</p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain prior period amounts with regard to gains on dispositions of properties and credit losses have been reclassified to conform to the current period presentation.</p>
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Land
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Land
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CY2019Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
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CY2019Q3 akr Distributions In Excess Of Income From And Investments In Unconsolidated Affiliates
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CY2018Q4 us-gaap Capital Lease Obligations
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CY2019Q3 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
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CY2018Q4 us-gaap Contractual Obligation
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CY2019Q3 us-gaap Letters Of Credit Outstanding Amount
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us-gaap Stock Repurchased During Period Value
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CY2019Q3 us-gaap Deferred Finance Costs Net
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us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
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CY2019Q3 us-gaap Contractual Obligation
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CY2018Q4 us-gaap Letters Of Credit Outstanding Amount
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CY2018 akr Stock Repurchase Program Fees
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us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
2294235

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