$ALX
ALEXANDERS INC

2024 Q3 Form 10-Q Financial Statement

#000000349924000041 Filed on November 04, 2024

View on sec.gov

Income Statement

Concept 2024 Q3
Revenue $55.68M
YoY Change 0.47%
Cost Of Revenue $27.06M
YoY Change 3.27%
Gross Profit $28.62M
YoY Change -1.99%
Gross Profit Margin 51.4%
Selling, General & Admin $813.0K
YoY Change -18.7%
% of Gross Profit 2.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.352M
YoY Change 11.33%
% of Gross Profit 32.68%
Operating Expenses $35.84M
YoY Change 2.09%
Operating Profit -$7.222M
YoY Change 22.28%
Interest Expense -$13.16M
YoY Change 37.04%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $6.678M
YoY Change -38.17%
Income Tax
% Of Pretax Income
Net Earnings $6.678M
YoY Change -37.9%
Net Earnings / Revenue 11.99%
Basic Earnings Per Share $1.30
Diluted Earnings Per Share $1.30
COMMON SHARES
Basic Shares Outstanding 5.134M shares
Diluted Shares Outstanding 5.134M shares

Balance Sheet

Concept 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $354.8M
YoY Change -30.14%
Cash & Equivalents $354.8M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $4.748M
Other Receivables $113.0M
Total Short-Term Assets $472.6M
YoY Change -25.69%
LONG-TERM ASSETS
Property, Plant & Equipment $642.3M
YoY Change -2.16%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $206.2M
YoY Change 334.15%
Total Long-Term Assets $892.4M
YoY Change 15.15%
TOTAL ASSETS
Total Short-Term Assets $472.6M
Total Long-Term Assets $892.4M
Total Assets $1.365B
YoY Change -3.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $50.44M
YoY Change 13.36%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $51.39M
YoY Change 11.71%
LONG-TERM LIABILITIES
Long-Term Debt $988.0M
YoY Change -9.53%
Other Long-Term Liabilities $134.9M
YoY Change 545.53%
Total Long-Term Liabilities $1.123B
YoY Change 0.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $51.39M
Total Long-Term Liabilities $1.123B
Total Liabilities $1.174B
YoY Change 1.31%
SHAREHOLDERS EQUITY
Retained Earnings $144.2M
YoY Change -23.75%
Common Stock $5.173M
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $190.7M
YoY Change
Total Liabilities & Shareholders Equity $1.365B
YoY Change -3.26%

Cashflow Statement

Concept 2024 Q3
OPERATING ACTIVITIES
Net Income $6.678M
YoY Change -37.9%
Depreciation, Depletion And Amortization $9.352M
YoY Change 11.33%
Cash From Operating Activities -$5.031M
YoY Change 235.4%
INVESTING ACTIVITIES
Capital Expenditures $3.654M
YoY Change 306.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$3.654M
YoY Change -506.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -118.5M
YoY Change 413.06%
NET CHANGE
Cash From Operating Activities -5.031M
Cash From Investing Activities -3.654M
Cash From Financing Activities -118.5M
Net Change In Cash -127.2M
YoY Change 436.71%
FREE CASH FLOW
Cash From Operating Activities -$5.031M
Capital Expenditures $3.654M
Free Cash Flow -$8.685M
YoY Change 261.88%

Facts In Submission

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dei Document Transition Report
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dei Entity Registrant Name
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ALEXANDERS INC
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210 Route 4 East,
dei Entity Address City Or Town
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Paramus,
dei Entity Address State Or Province
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NJ
dei Entity Address Postal Zip Code
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dei City Area Code
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dei Local Phone Number
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587-8541
dei Security12b Title
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Common Stock, $1 par value per share
dei Trading Symbol
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alx Increase Decrease In Incentive From Lessor
IncreaseDecreaseInIncentiveFromLessor
113618000 usd
alx Increase Decrease In Incentive From Lessor
IncreaseDecreaseInIncentiveFromLessor
0 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-14000 usd
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-14000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
23296000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
64367000 usd
alx Payments For Capital Improvements And Construction In Process And Other
PaymentsForCapitalImprovementsAndConstructionInProcessAndOther
9836000 usd
alx Payments For Capital Improvements And Construction In Process And Other
PaymentsForCapitalImprovementsAndConstructionInProcessAndOther
3796000 usd
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
0 usd
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
264881000 usd
us-gaap Proceeds From Sale Of Land Heldforinvestment
ProceedsFromSaleOfLandHeldforinvestment
0 usd
us-gaap Proceeds From Sale Of Land Heldforinvestment
ProceedsFromSaleOfLandHeldforinvestment
67821000 usd
us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
6563000 usd
us-gaap Proceeds From Derivative Instrument Investing Activities
ProceedsFromDerivativeInstrumentInvestingActivities
1889000 usd
us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
0 usd
us-gaap Payments For Derivative Instrument Investing Activities
PaymentsForDerivativeInstrumentInvestingActivities
11258000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-3273000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
500000000 usd
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
400000000 usd
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
69277000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
69232000 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
69000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-175824000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-69301000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-155801000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
314603000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
552977000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
214478000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
397176000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
529081000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
531855000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
194933000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
21122000 usd
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
19545000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
214478000 usd
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
354817000 usd
CY2024Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
42359000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
397176000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
529081000 usd
us-gaap Interest Paid Net
InterestPaidNet
51426000 usd
us-gaap Interest Paid Net
InterestPaidNet
38399000 usd
alx Non Cash Additions To Real Estate
NonCashAdditionsToRealEstate
6143000 usd
alx Non Cash Additions To Real Estate
NonCashAdditionsToRealEstate
652000 usd
alx Write Off Of Fully Amortized And Depreciated Assets
WriteOffOfFullyAmortizedAndDepreciatedAssets
1760000 usd
alx Write Off Of Fully Amortized And Depreciated Assets
WriteOffOfFullyAmortizedAndDepreciatedAssets
5964000 usd
us-gaap Nature Of Operations
NatureOfOperations
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:28.5pt">Organization</span><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%">Alexander’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 five properties in New York City.</span></div>
CY2024Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
5 property
us-gaap Basis Of Accounting
BasisOfAccounting
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%;padding-left:28.5pt">Basis of Presentation</span><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, 2023, 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, 2024 are not necessarily indicative of the operating results for the full year.</span></div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We operate in one reportable segment.</span>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2024Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
53244000 usd
CY2023Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
52954000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
163878000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
155502000 usd
CY2024Q3 us-gaap Revenues
Revenues
55675000 usd
CY2023Q3 us-gaap Revenues
Revenues
55413000 usd
us-gaap Revenues
Revenues
170464000 usd
us-gaap Revenues
Revenues
162027000 usd
CY2024Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
35608000 usd
CY2023Q3 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
34926000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
112542000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
104489000 usd
CY2024Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
17636000 usd
CY2023Q3 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
18028000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
51336000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
51013000 usd
CY2024Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
53244000 usd
CY2023Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
52954000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
163878000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
155502000 usd
CY2024Q3 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
2580000 usd
CY2023Q3 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
3116000 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
12510000 usd
us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
8356000 usd
CY2024Q3 us-gaap Notes Payable
NotesPayable
987978000 usd
CY2023Q4 us-gaap Notes Payable
NotesPayable
1092551000 usd
CY2024Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
7087000 usd
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
22608000 usd
CY2024Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
900000 usd
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2023Q3 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
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5133534 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5133534 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5130678 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5130678 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5130678 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5130678 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5132043 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5132043 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5128875 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5128875 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5128875 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5128875 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.30
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.30
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.10
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.10
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.10
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.10
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
16.79
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
16.79
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
16.79
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
16.79

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