2014 Q4 Form 10-Q Financial Statement

#000091061214000059 Filed on November 10, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q4
Revenue $283.8M $258.7M $282.0M
YoY Change 0.65% 0.45% 4.35%
Cost Of Revenue $74.70M $71.50M $77.80M
YoY Change -3.98% -3.9% 14.92%
Gross Profit $209.2M $187.2M $204.2M
YoY Change 2.45% 2.18% 0.84%
Gross Profit Margin 73.7% 72.36% 72.41%
Selling, General & Admin $14.70M $9.500M $12.40M
YoY Change 18.55% -6.86% -18.95%
% of Gross Profit 7.03% 5.07% 6.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $79.10M $72.49M $72.70M
YoY Change 8.8% 5.14% 4.01%
% of Gross Profit 37.81% 38.72% 35.6%
Operating Expenses $104.7M $161.3M $92.80M
YoY Change 12.82% 0.93% 5.33%
Operating Profit $104.3M $97.39M $62.37M
YoY Change 67.29% -0.33% -33.66%
Interest Expense -$45.50M $60.21M -$53.90M
YoY Change -15.58% 6.87% -5.6%
% of Operating Profit -43.61% 61.83% -86.42%
Other Income/Expense, Net
YoY Change
Pretax Income $87.60M $60.30M $9.400M
YoY Change 831.91% 14.86% -88.62%
Income Tax $200.0K $3.083M $500.0K
% Of Pretax Income 0.23% 5.11% 5.32%
Net Earnings $76.56M $49.34M $8.843M
YoY Change 765.72% 43.75% -87.01%
Net Earnings / Revenue 26.97% 19.07% 3.14%
Basic Earnings Per Share $0.38 $0.22 -$0.01
Diluted Earnings Per Share $0.38 $0.22 -$0.01
COMMON SHARES
Basic Shares Outstanding 170.3M shares 170.3M shares 169.9M shares
Diluted Shares Outstanding 170.3M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.90M $45.10M $65.50M
YoY Change -42.14% -39.54% -16.24%
Cash & Equivalents $37.94M $45.07M $65.50M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $81.30M $80.00M $79.90M
Other Receivables $22.60M $24.40M $23.30M
Total Short-Term Assets $141.8M $149.5M $168.7M
YoY Change -15.95% -13.68% 1.87%
LONG-TERM ASSETS
Property, Plant & Equipment $5.947B $5.955B $6.067B
YoY Change -1.98% -2.81% -3.69%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $281.4M $270.0M $277.1M
YoY Change 1.55% -3.47% 6.67%
Other Assets $0.00
YoY Change -100.0%
Total Long-Term Assets $6.457B $6.483B $6.601B
YoY Change -2.18% -3.14% -4.67%
TOTAL ASSETS
Total Short-Term Assets $141.8M $149.5M $168.7M
Total Long-Term Assets $6.457B $6.483B $6.601B
Total Assets $6.599B $6.633B $6.770B
YoY Change -2.52% -3.41% -4.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $328.4M $347.4M $333.9M
YoY Change -1.65% -0.23% -6.97%
Accrued Expenses
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 $328.4M $347.4M $333.9M
YoY Change -1.65% -0.23% -6.97%
LONG-TERM LIABILITIES
Long-Term Debt $4.701B $4.711B $4.858B
YoY Change -3.23% -3.21% 2.36%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $4.701B $4.711B $4.858B
YoY Change -3.23% -3.21% 2.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $328.4M $347.4M $333.9M
Total Long-Term Liabilities $4.701B $4.711B $4.858B
Total Liabilities $5.029B $5.059B $5.191B
YoY Change -3.13% -3.01% 1.7%
SHAREHOLDERS EQUITY
Retained Earnings -$566.8M -$587.0M -$570.8M
YoY Change -0.7% 11.44% 25.84%
Common Stock $1.703M $1.703M $1.700M
YoY Change 0.18% 0.24% 5.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.407B $1.390B $1.405B
YoY Change
Total Liabilities & Shareholders Equity $6.616B $6.633B $6.786B
YoY Change -2.5% -3.41% -4.28%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q4
OPERATING ACTIVITIES
Net Income $76.56M $49.34M $8.843M
YoY Change 765.72% 43.75% -87.01%
Depreciation, Depletion And Amortization $79.10M $72.49M $72.70M
YoY Change 8.8% 5.14% 4.01%
Cash From Operating Activities $138.8M $123.2M $128.8M
YoY Change 7.76% -15.79% -20.44%
INVESTING ACTIVITIES
Capital Expenditures -$82.20M -$80.90M -$96.10M
YoY Change -14.46% -5.71% -9.68%
Acquisitions
YoY Change
Other Investing Activities -$9.200M $34.70M $33.80M
YoY Change -127.22% -79.75% 44.44%
Cash From Investing Activities -$91.50M -$46.20M -$62.30M
YoY Change 46.87% -154.04% -24.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -54.40M -95.50M -75.50M
YoY Change -27.95% -56.92% 12.69%
NET CHANGE
Cash From Operating Activities 138.8M 123.2M 128.8M
Cash From Investing Activities -91.50M -46.20M -62.30M
Cash From Financing Activities -54.40M -95.50M -75.50M
Net Change In Cash -7.100M -18.50M -9.000M
YoY Change -21.11% -283.17% -175.63%
FREE CASH FLOW
Cash From Operating Activities $138.8M $123.2M $128.8M
Capital Expenditures -$82.20M -$80.90M -$96.10M
Free Cash Flow $221.0M $204.1M $224.9M
YoY Change -1.73% -12.06% -16.18%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2014Q3 us-gaap Number Of Real Estate Properties
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CY2014Q3 us-gaap Number Of States In Which Entity Operates
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us-gaap Prior Period Reclassification Adjustment Description
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain historical amounts have been reclassified to conform to the current year's presentation. The financial results of certain properties that met the criteria for classification as discontinued operations, prior to the adoption of Accounting Standards Update ("ASU") 2014-08, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reporting Discontinued Operations and Disclosures of Components of an Entity </font><font style="font-family:inherit;font-size:10pt;">("ASU 2014-08") in the first quarter of 2014, have been classified as discontinued operations in the condensed consolidated financial statements for all periods presented herein. Except where noted, the information presented in the Notes to Unaudited Condensed Consolidated Financial Statements excludes discontinued operations.</font></div></div>
us-gaap Proceeds From Contributions From Affiliates
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us-gaap Profit Loss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Revenues
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Revenues
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us-gaap Revenues
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
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CY2013Q4 us-gaap Stockholders Equity
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CY2014Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2013Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Temporary Equity Accretion To Redemption Value
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us-gaap Temporary Equity Accretion To Redemption Value
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CY2014Q3 us-gaap Tenant Reimbursements
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us-gaap Tenant Reimbursements
TenantReimbursements
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us-gaap Tenant Reimbursements
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CY2013Q3 us-gaap Tenant Reimbursements
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2013Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000910612
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
170262878 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
CBL & ASSOCIATES PROPERTIES INC

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