$ALX
ALEXANDERS INC

2021 Q1 Form 10-Q Financial Statement

#000000349921000009 Filed on May 03, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $56.15M $54.11M
YoY Change 3.78% -4.7%
Cost Of Revenue $25.40M $23.10M
YoY Change 9.96% 3.59%
Gross Profit $30.80M $31.00M
YoY Change -0.65% -10.14%
Gross Profit Margin 54.85% 57.29%
Selling, General & Admin $100.0K
YoY Change -87.5%
% of Gross Profit 0.32%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.958M $9.202M
YoY Change -2.65% 0.92%
% of Gross Profit 29.08% 29.68%
Operating Expenses $33.89M $31.11M
YoY Change 8.91% 0.62%
Operating Profit -$3.085M -$113.0K
YoY Change 2630.09% -103.16%
Interest Expense -$4.400M -$18.40M
YoY Change -76.09% 130.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $17.90M $4.600M
YoY Change 289.13% -74.3%
Income Tax
% Of Pretax Income
Net Earnings $17.88M $4.572M
YoY Change 291.12% -74.41%
Net Earnings / Revenue 31.85% 8.45%
Basic Earnings Per Share $3.49
Diluted Earnings Per Share $3.49 $902.0K
COMMON SHARES
Basic Shares Outstanding 5.122M shares 5.107M shares
Diluted Shares Outstanding 5.122M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $466.0M $441.4M
YoY Change 5.58% 35.32%
Cash & Equivalents $459.4M $438.3M
Short-Term Investments $6.606M $3.014M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $6.800M $4.900M
Other Receivables $142.7M $164.4M
Total Short-Term Assets $608.9M $607.6M
YoY Change 0.21% 27.59%
LONG-TERM ASSETS
Property, Plant & Equipment $715.4M $717.0M
YoY Change -0.22% -2.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $6.600M $3.000M
YoY Change 120.0% -87.07%
Other Assets $56.70M $56.40M
YoY Change 0.53% 12.57%
Total Long-Term Assets $802.3M $795.8M
YoY Change 0.82% -2.89%
TOTAL ASSETS
Total Short-Term Assets $608.9M $607.6M
Total Long-Term Assets $802.3M $795.8M
Total Assets $1.411B $1.403B
YoY Change 0.56% 8.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $43.00M $41.80M
YoY Change 2.87% 7.46%
Accrued Expenses
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 $44.40M $42.80M
YoY Change 3.74% -6.14%
LONG-TERM LIABILITIES
Long-Term Debt $1.157B $1.118B
YoY Change 3.45% 15.59%
Other Long-Term Liabilities $7.100M $7.700M
YoY Change -7.79% 156.67%
Total Long-Term Liabilities $1.164B $1.126B
YoY Change 3.38% 16.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.40M $42.80M
Total Long-Term Liabilities $1.164B $1.126B
Total Liabilities $1.208B $1.168B
YoY Change 3.39% 15.02%
SHAREHOLDERS EQUITY
Retained Earnings $161.0M $197.9M
YoY Change -18.66% -18.64%
Common Stock $5.173M $5.173M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $368.0K $368.0K
YoY Change 0.0% 0.0%
Treasury Stock Shares 66.16K shares 66.16K shares
Shareholders Equity $203.3M $235.1M
YoY Change
Total Liabilities & Shareholders Equity $1.411B $1.403B
YoY Change 0.56% 8.31%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $17.88M $4.572M
YoY Change 291.12% -74.41%
Depreciation, Depletion And Amortization $8.958M $9.202M
YoY Change -2.65% 0.92%
Cash From Operating Activities $53.97M $25.04M
YoY Change 115.56% -47.93%
INVESTING ACTIVITIES
Capital Expenditures -$3.800M -$7.000M
YoY Change -45.71% 288.89%
Acquisitions
YoY Change
Other Investing Activities $3.600M
YoY Change
Cash From Investing Activities -$242.0K -$6.961M
YoY Change -96.52% 283.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$23.09M $122.6M
YoY Change -118.83% -632.37%
NET CHANGE
Cash From Operating Activities $53.97M $25.04M
Cash From Investing Activities -$242.0K -$6.961M
Cash From Financing Activities -$23.09M $122.6M
Net Change In Cash $30.64M $140.7M
YoY Change -78.22% 505.31%
FREE CASH FLOW
Cash From Operating Activities $53.97M $25.04M
Capital Expenditures -$3.800M -$7.000M
Free Cash Flow $57.77M $32.04M
YoY Change 80.32% -35.78%

Facts In Submission

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CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
298063000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
21167000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
15914000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
449877000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
313977000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
459384000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
438342000 USD
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
21132000 USD
CY2020Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
16304000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
480516000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
454646000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
4565000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
7805000 USD
CY2021Q1 alx Non Cash Additions To Real Estate
NonCashAdditionsToRealEstate
2913000 USD
CY2020Q1 alx Non Cash Additions To Real Estate
NonCashAdditionsToRealEstate
3209000 USD
CY2021Q1 alx Write Off Of Fully Amortized And Depreciated Assets
WriteOffOfFullyAmortizedAndDepreciatedAssets
5628000 USD
CY2020Q1 alx Write Off Of Fully Amortized And Depreciated Assets
WriteOffOfFullyAmortizedAndDepreciatedAssets
367000 USD
CY2021Q1 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.
CY2021Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
7 property
CY2021Q1 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 and 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 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, 2020, 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 months ended March 31, 2021 are not necessarily indicative of the operating results for the full year.</span></div>We operate in one reportable segment.
CY2021Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2021Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
54411000 USD
CY2020Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
51986000 USD
CY2021Q1 us-gaap Revenues
Revenues
56153000 USD
CY2020Q1 us-gaap Revenues
Revenues
54110000 USD
CY2021Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
33810000 USD
CY2020Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
34149000 USD
CY2021Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
20601000 USD
CY2020Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
17837000 USD
CY2021Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
54411000 USD
CY2020Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
51986000 USD
CY2021Q1 us-gaap Marketable Securities
MarketableSecurities
6606000 USD
CY2020Q4 us-gaap Marketable Securities
MarketableSecurities
6024000 USD
CY2021Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
960000 USD
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
17882000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
4572000 USD
CY2021Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5122206 shares
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
5118698 shares
CY2021Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
3.49
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.89

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