$ALX
ALEXANDERS INC

2023 Q1 Form 10-Q Financial Statement

#000000349923000015 Filed on May 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q1
Revenue $52.94M $49.22M
YoY Change 7.57% -12.36%
Cost Of Revenue $25.55M $22.92M
YoY Change 11.49% -9.76%
Gross Profit $27.39M $26.30M
YoY Change 4.15% -14.63%
Gross Profit Margin 51.73% 53.43%
Selling, General & Admin $749.0K $91.00K
YoY Change 723.08%
% of Gross Profit 2.73% 0.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.899M $7.762M
YoY Change 1.77% -13.35%
% of Gross Profit 28.84% 29.52%
Operating Expenses $33.78M $30.36M
YoY Change 11.26% -10.4%
Operating Profit -$6.394M -$4.067M
YoY Change 57.22% 31.83%
Interest Expense -$7.934M -$4.321M
YoY Change 83.61% -1.8%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $11.23M $14.53M
YoY Change -22.75% -18.82%
Income Tax
% Of Pretax Income
Net Earnings $11.23M $14.53M
YoY Change -22.75% -18.73%
Net Earnings / Revenue 21.2% 29.53%
Basic Earnings Per Share $2.19 $2.84
Diluted Earnings Per Share $2.19 $2.84
COMMON SHARES
Basic Shares Outstanding 5.107M shares 5.124M shares
Diluted Shares Outstanding 5.127M shares 5.124M shares

Balance Sheet

Concept 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $356.5M $472.5M
YoY Change -24.55% 1.39%
Cash & Equivalents $356.5M $472.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $5.664M $5.775M
Other Receivables $125.4M $133.3M
Total Short-Term Assets $487.6M $611.6M
YoY Change -20.27% 0.44%
LONG-TERM ASSETS
Property, Plant & Equipment $669.4M $693.6M
YoY Change -3.49% -3.05%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $99.78M
YoY Change
Other Assets $61.60M $50.60M
YoY Change 21.75% -10.76%
Total Long-Term Assets $890.2M $797.2M
YoY Change 11.66% -0.64%
TOTAL ASSETS
Total Short-Term Assets $487.6M $611.6M
Total Long-Term Assets $890.2M $797.2M
Total Assets $1.378B $1.409B
YoY Change -2.2% -0.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $43.91M $39.08M
YoY Change 12.34% -9.11%
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 $44.58M $41.16M
YoY Change 8.31% -7.29%
LONG-TERM LIABILITIES
Long-Term Debt $1.091B $1.090B
YoY Change 0.13% -5.75%
Other Long-Term Liabilities $20.73M $21.83M
YoY Change -5.03% 207.42%
Total Long-Term Liabilities $1.112B $1.112B
YoY Change 0.03% -4.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.58M $41.16M
Total Long-Term Liabilities $1.112B $1.112B
Total Liabilities $1.157B $1.153B
YoY Change 0.33% -4.55%
SHAREHOLDERS EQUITY
Retained Earnings $160.4M $198.3M
YoY Change -19.13% 23.2%
Common Stock $5.173M $5.173M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $368.0K
YoY Change 0.0%
Treasury Stock Shares 66.16K shares
Shareholders Equity $221.0M $255.8M
YoY Change
Total Liabilities & Shareholders Equity $1.378B $1.409B
YoY Change -2.2% -0.17%

Cashflow Statement

Concept 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $11.23M $14.53M
YoY Change -22.75% -18.73%
Depreciation, Depletion And Amortization $7.899M $7.762M
YoY Change 1.77% -13.35%
Cash From Operating Activities $20.74M $32.19M
YoY Change -35.57% -40.36%
INVESTING ACTIVITIES
Capital Expenditures $2.060M -$1.158M
YoY Change -277.89% -69.53%
Acquisitions
YoY Change
Other Investing Activities $166.8M $0.00
YoY Change -100.0%
Cash From Investing Activities $164.8M -$1.158M
YoY Change -14329.02% 378.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$23.11M -$23.06M
YoY Change 0.22% -0.11%
NET CHANGE
Cash From Operating Activities $20.74M $32.19M
Cash From Investing Activities $164.8M -$1.158M
Cash From Financing Activities -$23.11M -$23.06M
Net Change In Cash $162.4M $7.967M
YoY Change 1938.38% -74.0%
FREE CASH FLOW
Cash From Operating Activities $20.74M $32.19M
Capital Expenditures $2.060M -$1.158M
Free Cash Flow $18.68M $33.34M
YoY Change -43.99% -42.28%

Facts In Submission

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7967000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
214478000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
483505000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
376876000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
491472000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
194933000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
463539000 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
19545000 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
19966000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
214478000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
483505000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
356507000 usd
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
472484000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
20369000 usd
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
18988000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
376876000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
491472000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
11476000 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
3728000 usd
CY2023Q1 alx Non Cash Additions To Real Estate
NonCashAdditionsToRealEstate
1481000 usd
CY2022Q1 alx Non Cash Additions To Real Estate
NonCashAdditionsToRealEstate
1232000 usd
CY2023Q1 alx Write Off Of Fully Amortized And Depreciated Assets
WriteOffOfFullyAmortizedAndDepreciatedAssets
4044000 usd
CY2022Q1 alx Write Off Of Fully Amortized And Depreciated Assets
WriteOffOfFullyAmortizedAndDepreciatedAssets
0 usd
CY2023Q1 alx Noncash Or Part Noncash Reclassification Asset Held For Sale
NoncashOrPartNoncashReclassificationAssetHeldForSale
13794000 usd
CY2022Q1 alx Noncash Or Part Noncash Reclassification Asset Held For Sale
NoncashOrPartNoncashReclassificationAssetHeldForSale
0 usd
CY2023Q1 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 New York City.
CY2023Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
6 property
CY2023Q1 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: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, 2022, 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, 2023 are not necessarily indicative of the operating results for the full year.</span></div>We operate in one reportable segment.
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
51036000 usd
CY2022Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
46808000 usd
CY2023Q1 us-gaap Revenues
Revenues
52941000 usd
CY2022Q1 us-gaap Revenues
Revenues
49215000 usd
CY2023Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
34724000 usd
CY2022Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
32203000 usd
CY2023Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
16312000 usd
CY2022Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
14605000 usd
CY2023Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
51036000 usd
CY2022Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
46808000 usd
CY2023Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
24657000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
29351000 usd
CY2023Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
900000 usd
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2023Q1 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
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
11226000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
14532000 usd
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5127086 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5127086 shares
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
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.19
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.19
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.84
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.84

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