$ALX
ALEXANDERS INC

2022 Q1 Form 10-Q Financial Statement

#000000349922000009 Filed on May 02, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $49.22M $56.15M
YoY Change -12.36% 3.78%
Cost Of Revenue $22.92M $25.40M
YoY Change -9.76% 9.96%
Gross Profit $26.30M $30.80M
YoY Change -14.63% -0.65%
Gross Profit Margin 53.43% 54.85%
Selling, General & Admin $91.00K
YoY Change
% of Gross Profit 0.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.762M $8.958M
YoY Change -13.35% -2.65%
% of Gross Profit 29.52% 29.08%
Operating Expenses $30.36M $33.89M
YoY Change -10.4% 8.91%
Operating Profit -$4.067M -$3.085M
YoY Change 31.83% 2630.09%
Interest Expense -$4.321M -$4.400M
YoY Change -1.8% -76.09%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $14.53M $17.90M
YoY Change -18.82% 289.13%
Income Tax
% Of Pretax Income
Net Earnings $14.53M $17.88M
YoY Change -18.73% 291.12%
Net Earnings / Revenue 29.53% 31.85%
Basic Earnings Per Share $2.84 $3.49
Diluted Earnings Per Share $2.84 $3.49
COMMON SHARES
Basic Shares Outstanding 5.124M shares 5.122M shares
Diluted Shares Outstanding 5.124M shares 5.122M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $472.5M $466.0M
YoY Change 1.39% 5.58%
Cash & Equivalents $472.5M $459.4M
Short-Term Investments $6.606M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $5.775M $6.800M
Other Receivables $133.3M $142.7M
Total Short-Term Assets $611.6M $608.9M
YoY Change 0.44% 0.21%
LONG-TERM ASSETS
Property, Plant & Equipment $693.6M $715.4M
YoY Change -3.05% -0.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $6.600M
YoY Change 120.0%
Other Assets $50.60M $56.70M
YoY Change -10.76% 0.53%
Total Long-Term Assets $797.2M $802.3M
YoY Change -0.64% 0.82%
TOTAL ASSETS
Total Short-Term Assets $611.6M $608.9M
Total Long-Term Assets $797.2M $802.3M
Total Assets $1.409B $1.411B
YoY Change -0.17% 0.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $39.08M $43.00M
YoY Change -9.11% 2.87%
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 $41.16M $44.40M
YoY Change -7.29% 3.74%
LONG-TERM LIABILITIES
Long-Term Debt $1.090B $1.157B
YoY Change -5.75% 3.45%
Other Long-Term Liabilities $21.83M $7.100M
YoY Change 207.42% -7.79%
Total Long-Term Liabilities $1.112B $1.164B
YoY Change -4.45% 3.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $41.16M $44.40M
Total Long-Term Liabilities $1.112B $1.164B
Total Liabilities $1.153B $1.208B
YoY Change -4.55% 3.39%
SHAREHOLDERS EQUITY
Retained Earnings $198.3M $161.0M
YoY Change 23.2% -18.66%
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 $255.8M $203.3M
YoY Change
Total Liabilities & Shareholders Equity $1.409B $1.411B
YoY Change -0.17% 0.56%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $14.53M $17.88M
YoY Change -18.73% 291.12%
Depreciation, Depletion And Amortization $7.762M $8.958M
YoY Change -13.35% -2.65%
Cash From Operating Activities $32.19M $53.97M
YoY Change -40.36% 115.56%
INVESTING ACTIVITIES
Capital Expenditures -$1.158M -$3.800M
YoY Change -69.53% -45.71%
Acquisitions
YoY Change
Other Investing Activities $0.00 $3.600M
YoY Change -100.0%
Cash From Investing Activities -$1.158M -$242.0K
YoY Change 378.51% -96.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$23.06M -$23.09M
YoY Change -0.11% -118.83%
NET CHANGE
Cash From Operating Activities $32.19M $53.97M
Cash From Investing Activities -$1.158M -$242.0K
Cash From Financing Activities -$23.06M -$23.09M
Net Change In Cash $7.967M $30.64M
YoY Change -74.0% -78.22%
FREE CASH FLOW
Cash From Operating Activities $32.19M $53.97M
Capital Expenditures -$1.158M -$3.800M
Free Cash Flow $33.34M $57.77M
YoY Change -42.28% 80.32%

Facts In Submission

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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
480516000 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
463539000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
428710000 USD
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
19966000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
21167000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
483505000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
449877000 USD
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
472484000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
459384000 USD
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
18988000 USD
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
21132000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
491472000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
480516000 USD
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
3728000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
4565000 USD
CY2022Q1 alx Non Cash Additions To Real Estate
NonCashAdditionsToRealEstate
1232000 USD
CY2021Q1 alx Non Cash Additions To Real Estate
NonCashAdditionsToRealEstate
2913000 USD
CY2022Q1 alx Write Off Of Fully Amortized And Depreciated Assets
WriteOffOfFullyAmortizedAndDepreciatedAssets
0 USD
CY2021Q1 alx Write Off Of Fully Amortized And Depreciated Assets
WriteOffOfFullyAmortizedAndDepreciatedAssets
5628000 USD
CY2022Q1 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 six properties in the New York City metropolitan area.
CY2022Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
6 property
CY2022Q1 us-gaap Basis Of Accounting
BasisOfAccounting
Basis of Presentation<div style="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:112%">The accompanying consolidated financial statements are unaudited and include the accounts of Alexander’s and its consolidated subsidiaries. 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, 2021, 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, 2022 are not necessarily indicative of the operating results for the full year.</span></div>We operate in one reportable segment.
CY2022Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2022Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
46808000 USD
CY2021Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
54411000 USD
CY2022Q1 us-gaap Revenues
Revenues
49215000 USD
CY2021Q1 us-gaap Revenues
Revenues
56153000 USD
CY2022Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
32203000 USD
CY2021Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
33810000 USD
CY2022Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
14605000 USD
CY2021Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
20601000 USD
CY2022Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
46808000 USD
CY2021Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
54411000 USD
CY2022Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
900000 USD
CY2022Q1 alx Lessee Operating Lease Number Of Extension Options
LesseeOperatingLeaseNumberOfExtensionOptions
1 extension
CY2022Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P10Y
CY2022Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P10Y
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
17000000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
17000000 USD
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.84
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.49
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.49
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
14532000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
17882000 USD
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5124478 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5124478 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5122206 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5122206 shares
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.84

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