2022 Q4 Form 10-K Financial Statement

#000183767123000017 Filed on March 07, 2023

View on sec.gov

Income Statement

Concept 2022 Q4 2022
Revenue $25.89M $108.4M
YoY Change -31.27% -26.22%
Cost Of Revenue $1.616M $7.531M
YoY Change -27.7% -11.19%
Gross Profit $24.27M $100.9M
YoY Change -31.5% -27.14%
Gross Profit Margin 93.76% 93.05%
Selling, General & Admin $3.603M $15.07M
YoY Change -3.01% 8.24%
% of Gross Profit 14.85% 14.94%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.872M $20.69M
YoY Change -86.15% -41.19%
% of Gross Profit 20.07% 20.51%
Operating Expenses $8.475M $35.77M
YoY Change -29.56% -27.17%
Operating Profit $15.79M $65.10M
YoY Change -32.5% -27.13%
Interest Expense $4.137M
YoY Change
% of Operating Profit 6.36%
Other Income/Expense, Net $351.0K $22.41M
YoY Change
Pretax Income $29.82M $87.51M
YoY Change -66.83% -55.52%
Income Tax
% Of Pretax Income
Net Earnings $29.82M $87.51M
YoY Change -66.83% -55.52%
Net Earnings / Revenue 115.19% 80.73%
Basic Earnings Per Share $1.17
Diluted Earnings Per Share $0.40 $1.17
COMMON SHARES
Basic Shares Outstanding 0.000 shares 75.00M shares
Diluted Shares Outstanding 75.00M shares

Balance Sheet

Concept 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $48.92M $48.92M
YoY Change -92.2% -92.2%
Cash & Equivalents $48.92M $48.92M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $42.69M $42.69M
Other Receivables $0.00 $0.00
Total Short-Term Assets $91.61M $91.61M
YoY Change -86.45% -86.45%
LONG-TERM ASSETS
Property, Plant & Equipment $979.0M $979.0M
YoY Change -12.1% -12.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Assets $1.208B $1.208B
YoY Change -12.98% -12.98%
TOTAL ASSETS
Total Short-Term Assets $91.61M $91.61M
Total Long-Term Assets $1.208B $1.208B
Total Assets $1.300B $1.300B
YoY Change -37.04% -37.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.061M $1.061M
YoY Change -34.75% -34.75%
Accrued Expenses $37.68M $37.68M
YoY Change 0.32% 0.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $38.74M $38.74M
YoY Change -1.13% -1.13%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $110.5M $110.5M
YoY Change -19.98% -19.98%
Total Long-Term Liabilities $110.5M $110.5M
YoY Change -19.98% -19.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.74M $38.74M
Total Long-Term Liabilities $110.5M $110.5M
Total Liabilities $149.3M $149.3M
YoY Change -15.81% -15.81%
SHAREHOLDERS EQUITY
Retained Earnings -$801.5M
YoY Change 1137.77%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.151B $1.151B
YoY Change
Total Liabilities & Shareholders Equity $1.300B $1.300B
YoY Change -37.04% -37.04%

Cashflow Statement

Concept 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $29.82M $87.51M
YoY Change -66.83% -55.52%
Depreciation, Depletion And Amortization $4.872M $20.69M
YoY Change -86.15% -41.19%
Cash From Operating Activities $22.00M $89.45M
YoY Change -71.95% 14.05%
INVESTING ACTIVITIES
Capital Expenditures $89.00K $89.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $50.55M $156.3M
YoY Change -93.63% -80.31%
Cash From Investing Activities $50.46M $156.2M
YoY Change -93.64% -80.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -106.9M -$824.2M
YoY Change -60.43% 205.13%
NET CHANGE
Cash From Operating Activities 22.00M $89.45M
Cash From Investing Activities 50.46M $156.2M
Cash From Financing Activities -106.9M -$824.2M
Net Change In Cash -34.42M -$578.6M
YoY Change -105.72% -196.12%
FREE CASH FLOW
Cash From Operating Activities $22.00M $89.45M
Capital Expenditures $89.00K $89.00K
Free Cash Flow $21.91M $89.36M
YoY Change

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UnrecognizedTaxBenefits
0 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2021Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
37 state
CY2021Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
31821000 sqft
CY2021Q1 cpt Business Acquisition Assets Acquired And Liabilities Assumed Real Estate Investment Property
BusinessAcquisitionAssetsAcquiredAndLiabilitiesAssumedRealEstateInvestmentProperty
1935208000 usd
CY2021Q1 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P19Y10M24D
CY2022Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
36 state
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
12696000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
12696000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
12696000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
12696000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
12696000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
165049000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
228529000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Next Twelve Months
BelowMarketLeaseAmortizationIncomeNextTwelveMonths
5662000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Two
BelowMarketLeaseAmortizationIncomeYearTwo
5662000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Three
BelowMarketLeaseAmortizationIncomeYearThree
5662000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Four
BelowMarketLeaseAmortizationIncomeYearFour
5662000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Five
BelowMarketLeaseAmortizationIncomeYearFive
5662000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income After Year Five
BelowMarketLeaseAmortizationIncomeAfterYearFive
73610000 usd
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
101920000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Next Twelve Months
BelowMarketLeaseAmortizationIncomeNextTwelveMonths
5662000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Two
BelowMarketLeaseAmortizationIncomeYearTwo
5662000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Three
BelowMarketLeaseAmortizationIncomeYearThree
5662000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Four
BelowMarketLeaseAmortizationIncomeYearFour
5662000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income Year Five
BelowMarketLeaseAmortizationIncomeYearFive
5662000 usd
CY2022Q4 us-gaap Below Market Lease Amortization Income After Year Five
BelowMarketLeaseAmortizationIncomeAfterYearFive
73610000 usd
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
101920000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
24334000 usd
CY2022Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
10853000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
12283000 usd
CY2022Q4 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P20Y
CY2021Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
6116000 usd
CY2022 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P18Y
CY2021Q4 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P19Y
CY2022 us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
6284000 usd
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
7232000 usd
CY2022Q4 cpt Disposal Group Area Of Property
DisposalGroupAreaOfProperty
2100000 sqft
CY2022Q4 us-gaap Disposal Group Including Discontinued Operation Consideration
DisposalGroupIncludingDiscontinuedOperationConsideration
160910000 usd
CY2022 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
156252000 usd
CY2022 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
21726000 usd
CY2021Q4 cpt Disposal Group Area Of Property
DisposalGroupAreaOfProperty
12131000 sqft
CY2021Q4 us-gaap Disposal Group Including Discontinued Operation Consideration
DisposalGroupIncludingDiscontinuedOperationConsideration
812015000 usd
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
793647000 usd
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
109696000 usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
1951000 usd
CY2022 cpt Operating Lease Percent Rent Abatement In Year One
OperatingLeasePercentRentAbatementInYearOne
0.50
CY2022 cpt Consumer Price Index Increase Maximum
ConsumerPriceIndexIncreaseMaximum
0.02
CY2022 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
4015000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
3717000 usd
CY2022 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
747000 usd
us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
347000 usd
CY2022 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
108569000 usd
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
85575000 usd
CY2022 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
2498000 usd
us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
-58037000 usd
CY2022 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
4015000 usd
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
3717000 usd
CY2022 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
1691000 usd
us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
405000 usd
CY2022 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
108395000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
146924000 usd
CY2022 cpt Operating Lease Percent Rent Abatement In Year One
OperatingLeasePercentRentAbatementInYearOne
0.50
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
102661000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
102661000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
102661000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
102661000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
102661000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
1334595000 usd
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1847900000 usd
CY2022 cpt Lessor Operating Lease Weighted Average Remaining Lease Term
LessorOperatingLeaseWeightedAverageRemainingLeaseTerm
P18Y
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
6160000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
5782000 usd
CY2022 us-gaap Interest Expense
InterestExpense
4137000 usd
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1025000 usd
us-gaap Interest Expense
InterestExpense
3810000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
950000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4062000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4124000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4116000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4138000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
4197000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
220159000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
203120000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
37676000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P44Y4M24D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.110
CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0 usd
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
1951000 usd
CY2021 cpt Number Of Impaired Properties
NumberOfImpairedProperties
2 property
us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
1951000 usd
CY2022 cpt Termination Rights By Lessor Period Of Written Notice Required
TerminationRightsByLessorPeriodOfWrittenNoticeRequired
P24M
CY2022Q4 cpt Properties Subject To Termination Rights By Lessee
PropertiesSubjectToTerminationRightsByLessee
6 property
CY2022Q4 cpt Properties Subject To Termination Rights By Lessee Per Year
PropertiesSubjectToTerminationRightsByLesseePerYear
5 property
CY2022 cpt Go Dark Substitution Properties Allocated Base Rent As A Percentage Of Total Base Rent
GoDarkSubstitutionPropertiesAllocatedBaseRentAsAPercentageOfTotalBaseRent
0.15
CY2022Q4 cpt Number Of Properties Subject To Lockout Period
NumberOfPropertiesSubjectToLockoutPeriod
70 property
CY2022Q4 cpt Number Of Properties Subject To Lockout Period
NumberOfPropertiesSubjectToLockoutPeriod
70 property
CY2022Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
36 state
CY2022Q4 cpt Concentration Risk Number Of States
ConcentrationRiskNumberOfStates
2 state
CY2021Q4 cpt Concentration Risk Number Of States
ConcentrationRiskNumberOfStates
2 state
CY2022Q4 srt Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
0 usd
CY2022Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
422114000 usd
CY2022Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
497434000 usd
CY2022Q4 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Carrying Costs
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts
89000 usd
CY2022Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
422114000 usd
CY2022Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
497523000 usd
CY2022Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
919637000 usd
CY2022Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
27742000 usd
CY2022Q4 srt Real Estate Federal Income Tax Basis
RealEstateFederalIncomeTaxBasis
920000000 usd
CY2021Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
1045051000 usd
CY2022 us-gaap Sec Schedule Iii Real Estate Writedown Or Reserve Amount
SECScheduleIIIRealEstateWritedownOrReserveAmount
0 usd
CY2022 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
125503000 usd
CY2022 cpt Sec Schedule1228 Real Estate Companies Investment In Real Estate Held For Sale
SECSchedule1228RealEstateCompaniesInvestmentInRealEstateHeldForSale
0 usd
CY2022Q4 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Carrying Costs
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts
89000 usd
CY2022Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
919637000 usd
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
14808000 usd
CY2022 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
15465000 usd
CY2022 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
2531000 usd
CY2022 cpt Sec Schedule1228 Real Estate Companies Investment In Real Estate Accumulated Depreciation Investment In Real Estate Held For Sale
SECSchedule1228RealEstateCompaniesInvestmentInRealEstateAccumulatedDepreciationInvestmentInRealEstateHeldForSale
0 usd
CY2022Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
27742000 usd

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