$ALX
ALEXANDERS INC

2020 Q4 Form 10-Q Financial Statement

#000000349920000034 Filed on November 02, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $56.10M $43.50M $57.76M
YoY Change 0.39% -24.69% -2.31%
Cost Of Revenue $26.10M $23.60M $23.80M
YoY Change 12.5% -0.84% -11.85%
Gross Profit $30.00M $19.90M $34.00M
YoY Change -7.98% -41.47% 5.92%
Gross Profit Margin 53.48% 45.75% 58.86%
Selling, General & Admin $200.0K $900.0K
YoY Change -77.78% 80.0%
% of Gross Profit 1.01% 2.65%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.500M $7.800M $9.100M
YoY Change 4.4% -14.29% -5.21%
% of Gross Profit 31.67% 39.2% 26.76%
Operating Expenses $8.900M $31.42M $32.55M
YoY Change 1.14% -3.48% -8.99%
Operating Profit $21.10M -$11.52M $1.447M
YoY Change -11.34% -896.2% -93.8%
Interest Expense -$2.600M -$5.500M -$8.700M
YoY Change -72.63% -36.78% 3.57%
% of Operating Profit -12.32% -601.24%
Other Income/Expense, Net
YoY Change
Pretax Income $18.40M $6.600M $16.50M
YoY Change 27.78% -60.0% 9.97%
Income Tax
% Of Pretax Income
Net Earnings $18.40M $6.604M $16.49M
YoY Change 27.48% -59.96% 9.93%
Net Earnings / Revenue 32.8% 15.18% 28.55%
Basic Earnings Per Share $1.29 $3.22
Diluted Earnings Per Share $3.608M $1.29 $3.22
COMMON SHARES
Basic Shares Outstanding 5.107M shares 5.122M shares 5.107M shares
Diluted Shares Outstanding 5.122M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $434.7M $359.5M $321.1M
YoY Change 39.13% 11.96% -3.65%
Cash & Equivalents $428.7M $355.7M $304.2M
Short-Term Investments $6.024M $3.834M $16.91M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $8.100M $6.900M $5.600M
Other Receivables $145.3M $148.0M $166.9M
Total Short-Term Assets $582.1M $510.6M $476.7M
YoY Change 23.69% 7.11% 0.04%
LONG-TERM ASSETS
Property, Plant & Equipment $720.9M $721.0M $722.4M
YoY Change -0.07% -0.19% -1.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $6.000M $3.800M $16.90M
YoY Change -58.33% -77.51% -92.52%
Other Assets $57.70M $52.20M $51.10M
YoY Change 1.23% 2.15% 8.03%
Total Long-Term Assets $822.0M $817.3M $806.7M
YoY Change 3.41% 1.32% -21.25%
TOTAL ASSETS
Total Short-Term Assets $582.1M $510.6M $476.7M
Total Long-Term Assets $822.0M $817.3M $806.7M
Total Assets $1.404B $1.328B $1.283B
YoY Change 10.95% 3.47% -14.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $35.30M $44.40M $39.00M
YoY Change 11.01% 13.85% 7.44%
Accrued Expenses $5.000M
YoY Change
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 $36.80M $45.60M $48.60M
YoY Change -3.16% -6.17% 32.43%
LONG-TERM LIABILITIES
Long-Term Debt $1.156B $1.066B $969.7M
YoY Change 19.07% 9.97% -16.61%
Other Long-Term Liabilities $7.900M $7.400M $3.000M
YoY Change 163.33% 146.67% 0.0%
Total Long-Term Liabilities $1.164B $1.074B $972.7M
YoY Change 19.52% 10.39% -16.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $36.80M $45.60M $48.60M
Total Long-Term Liabilities $1.164B $1.074B $972.7M
Total Liabilities $1.201B $1.119B $1.021B
YoY Change 18.67% 9.61% -15.09%
SHAREHOLDERS EQUITY
Retained Earnings $166.2M $170.8M $225.0M
YoY Change -23.21% -24.09% -13.96%
Common Stock $5.173M $5.173M $5.173M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $368.0K $368.0K $368.0K
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 66.16K shares 66.16K shares 66.16K shares
Shareholders Equity $203.2M $208.5M $262.1M
YoY Change
Total Liabilities & Shareholders Equity $1.404B $1.328B $1.283B
YoY Change 10.95% 3.47% -14.49%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $18.40M $6.604M $16.49M
YoY Change 27.48% -59.96% 9.93%
Depreciation, Depletion And Amortization $9.500M $7.800M $9.100M
YoY Change 4.4% -14.29% -5.21%
Cash From Operating Activities $22.60M $2.700M $49.20M
YoY Change -13.41% -94.51% 48.19%
INVESTING ACTIVITIES
Capital Expenditures -$8.900M -$10.60M -$1.700M
YoY Change 217.86% 523.53% 142.86%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$8.900M -$10.60M -$1.700M
YoY Change 217.86% 523.53% -1800.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 66.40M -75.60M -23.00M
YoY Change -388.7% 228.7% -4.56%
NET CHANGE
Cash From Operating Activities 22.60M 2.700M 49.20M
Cash From Investing Activities -8.900M -10.60M -1.700M
Cash From Financing Activities 66.40M -75.60M -23.00M
Net Change In Cash 80.10M -83.50M 24.50M
YoY Change 26600.0% -440.82% 166.3%
FREE CASH FLOW
Cash From Operating Activities $22.60M $2.700M $49.20M
Capital Expenditures -$8.900M -$10.60M -$1.700M
Free Cash Flow $31.50M $13.30M $50.90M
YoY Change 9.0% -73.87% 50.15%

Facts In Submission

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dei Document Fiscal Year Focus
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2020
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dei Current Fiscal Year End Date
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--12-31
dei Document Quarterly Report
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dei Document Period End Date
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dei Entity File Number
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dei Entity Registrant Name
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ALEXANDERS INC
dei Entity Incorporation State Country Code
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DE
dei Entity Tax Identification Number
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210 Route 4 East,
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dei Security12b Title
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
25554000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
27401000 USD
us-gaap Straight Line Rent
StraightLineRent
-18306000 USD
us-gaap Straight Line Rent
StraightLineRent
-1950000 USD
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
4122000 USD
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0 USD
us-gaap Share Based Compensation
ShareBasedCompensation
600000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
394000 USD
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-10789000 USD
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-6257000 USD
us-gaap Investment Income Dividend
InvestmentIncomeDividend
214000 USD
us-gaap Investment Income Dividend
InvestmentIncomeDividend
0 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4886000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1549000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
33731000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-7957000 USD
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-697000 USD
us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
3981000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
12646000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
8375000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-475000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-454000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
55521000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
99953000 USD
alx Payments For Capital Improvements And Construction In Process
PaymentsForCapitalImprovementsAndConstructionInProcess
23630000 USD
alx Payments For Capital Improvements And Construction In Process
PaymentsForCapitalImprovementsAndConstructionInProcess
6566000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-23630000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6566000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
69118000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
69090000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2680000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
15000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
145708000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
50000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
23910000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-69105000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
55801000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
24282000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
313977000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
289495000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
369778000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
313777000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
298063000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
283056000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
15914000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
6439000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
313977000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
289495000 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
355712000 USD
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
304229000 USD
CY2020Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
14066000 USD
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
9548000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
369778000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
313777000 USD
us-gaap Interest Paid Net
InterestPaidNet
17959000 USD
us-gaap Interest Paid Net
InterestPaidNet
26898000 USD
alx Non Cash Additions To Real Estate
NonCashAdditionsToRealEstate
3622000 USD
alx Non Cash Additions To Real Estate
NonCashAdditionsToRealEstate
233000 USD
alx Write Off Of Fully Amortized And Depreciated Assets
WriteOffOfFullyAmortizedAndDepreciatedAssets
457000 USD
alx Write Off Of Fully Amortized And Depreciated Assets
WriteOffOfFullyAmortizedAndDepreciatedAssets
0 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5428000 USD
alx Reclassificationof Prepaid Real Estate Taxesto Constructionin Progress
ReclassificationofPrepaidRealEstateTaxestoConstructioninProgress
0 USD
alx Reclassificationof Prepaid Real Estate Taxesto Constructionin Progress
ReclassificationofPrepaidRealEstateTaxestoConstructioninProgress
1466000 USD
us-gaap Nature Of Operations
NatureOfOperations
OrganizationAlexander’s, Inc. (NYSE: ALX) is a real estate investment trust (“REIT”), incorporated in Delaware, engaged in leasing, managing, developing and redeveloping its properties. All references to “we,” “us,” “our,” “Company” and “Alexander’s” refer to Alexander’s, Inc. and its consolidated subsidiaries. We are managed by, and our properties are leased and developed by, Vornado Realty Trust (“Vornado”) (NYSE: VNO). We have seven properties in the greater New York City metropolitan area.
CY2020Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
7 property
us-gaap Basis Of Accounting
BasisOfAccounting
Basis of Presentation<div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying consolidated financial statements are unaudited and include the accounts of Alexander’s and its consolidated subsidiaries. All intercompany amounts have been eliminated. In our opinion, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and changes in cash flows have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted. These condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q of the Securities and Exchange Commission (the “SEC”) and should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the SEC.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have made estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. The results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of the operating results for the full year.</span></div>We operate in one reportable segment.
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2020Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
41394000 USD
CY2019Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
55267000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
137479000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
163597000 USD
CY2020Q3 us-gaap Revenues
Revenues
43499000 USD
CY2019Q3 us-gaap Revenues
Revenues
57760000 USD
us-gaap Revenues
Revenues
143087000 USD
us-gaap Revenues
Revenues
170470000 USD
CY2020Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
33609000 USD
CY2019Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
36025000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
101348000 USD
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
107657000 USD
CY2020Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
7785000 USD
CY2019Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
19242000 USD
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
36131000 USD
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
55940000 USD
CY2020Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
41394000 USD
CY2019Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
55267000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
137479000 USD
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
163597000 USD
CY2020Q3 us-gaap Marketable Securities
MarketableSecurities
3834000 USD
CY2019Q4 us-gaap Marketable Securities
MarketableSecurities
14409000 USD
CY2018Q2 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
23797000 USD
CY2018Q2 alx Additional Real Estate Transfer Tax
AdditionalRealEstateTransferTax
15874000 USD
CY2018Q2 alx Real Estate Tax Expense Interest
RealEstateTaxExpenseInterest
7923000 USD
CY2020Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
1030000 USD
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
6604000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
16493000 USD
us-gaap Net Income Loss
NetIncomeLoss
23507000 USD
us-gaap Net Income Loss
NetIncomeLoss
45641000 USD
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5122206 shares
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5118698 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5120490 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5118030 shares
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
1.29
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
3.22
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
4.59
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
8.92

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