$DEA
Easterly Government Properties Inc

2015 Q4 Form 10-K Financial Statement

#000156459016013875 Filed on March 02, 2016

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2015
Revenue $22.17M $19.86M $71.38M
YoY Change 1189.19% 967.58% 1028.68%
Cost Of Revenue $6.500M $5.820M $20.30M
YoY Change
Gross Profit $15.67M $14.04M $51.10M
YoY Change
Gross Profit Margin 70.67% 70.71% 71.59%
Selling, General & Admin $2.710M $2.300M $8.900M
YoY Change -41.59% -33.72% -10.1%
% of Gross Profit 17.29% 16.38% 17.42%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.20M $9.300M $32.90M
YoY Change
% of Gross Profit 65.09% 66.24% 64.38%
Operating Expenses $12.87M $11.64M $67.33M
YoY Change 177.37% 235.45% 577.63%
Operating Profit $2.800M $2.159M $4.723M
YoY Change -230.76%
Interest Expense -$1.610M -$1.341M -$4.972M
YoY Change 242.55% -105.44% -106.96%
% of Operating Profit -57.5% -62.11% -105.27%
Other Income/Expense, Net
YoY Change
Pretax Income $170.0K $820.0K -$5.400M
YoY Change -105.03% -96.44% -107.96%
Income Tax
% Of Pretax Income
Net Earnings $105.0K $498.0K -$1.694M
YoY Change -98.51% -115.05% -170.7%
Net Earnings / Revenue 0.47% 2.51% -2.37%
Basic Earnings Per Share $0.02 -$0.08
Diluted Earnings Per Share $4.551K $0.02 -$0.06
COMMON SHARES
Basic Shares Outstanding 24.14M 21.43M
Diluted Shares Outstanding 25.22M 21.43M

Balance Sheet

Concept 2015 Q4 2015 Q3 2015
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.200M $4.500M $8.200M
YoY Change -73.89% -86.4% -73.89%
Cash & Equivalents $8.176M $4.466M $8.200M
Short-Term Investments
Other Short-Term Assets $1.500M $2.900M $1.500M
YoY Change 7.14% 7.14%
Inventory
Prepaid Expenses
Receivables $2.900M $2.900M $2.900M
Other Receivables $6.400M $5.600M $6.400M
Total Short-Term Assets $19.00M $15.90M $19.00M
YoY Change -42.07% -51.96% -42.07%
LONG-TERM ASSETS
Property, Plant & Equipment $772.0M $668.0M $772.0M
YoY Change 188.38% 146.13% 188.38%
Goodwill
YoY Change
Intangibles $116.6M
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.500M $4.700M $4.500M
YoY Change 1466.67%
Total Long-Term Assets $893.0M $777.3M $893.0M
YoY Change 233.59% 185.56% 233.58%
TOTAL ASSETS
Total Short-Term Assets $19.00M $15.90M $19.00M
Total Long-Term Assets $893.0M $777.3M $893.0M
Total Assets $912.0M $793.2M $912.0M
YoY Change 203.5% 159.81% 203.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.300M $7.000M $9.300M
YoY Change 181.82% 141.38% 181.82%
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 $9.300M $7.000M $9.300M
YoY Change 181.82% 141.38% 181.82%
LONG-TERM LIABILITIES
Long-Term Debt $238.2M $118.9M $238.2M
YoY Change
Other Long-Term Liabilities $44.60M $39.70M $44.60M
YoY Change
Total Long-Term Liabilities $282.8M $158.6M $282.8M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $9.300M $7.000M $9.300M
Total Long-Term Liabilities $282.8M $158.6M $282.8M
Total Liabilities $292.2M $411.1M $534.8M
YoY Change 8697.14% 36.71% 86.21%
SHAREHOLDERS EQUITY
Retained Earnings -$1.694M
YoY Change
Common Stock $392.0M
YoY Change 39200700.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $377.3M $382.1M $377.3M
YoY Change
Total Liabilities & Shareholders Equity $912.0M $793.2M $912.0M
YoY Change 203.5% 159.81% 203.49%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2015
OPERATING ACTIVITIES
Net Income $105.0K $498.0K -$1.694M
YoY Change -98.51% -115.05% -170.7%
Depreciation, Depletion And Amortization $10.20M $9.300M $32.90M
YoY Change
Cash From Operating Activities $11.20M $11.80M $30.00M
YoY Change 348.0% 391.67% -233.93%
INVESTING ACTIVITIES
Capital Expenditures -$200.0K -$200.0K -$500.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$117.7M -$18.40M -$164.1M
YoY Change
Cash From Investing Activities -$117.9M -$18.50M -$164.6M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $193.5M
YoY Change 19354400.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 110.4M 7.800M 111.3M
YoY Change -2792.68% -73.56% 120.4%
NET CHANGE
Cash From Operating Activities 11.20M 11.80M 30.00M
Cash From Investing Activities -117.9M -18.50M -164.6M
Cash From Financing Activities 110.4M 7.800M 111.3M
Net Change In Cash 3.700M 1.100M -23.30M
YoY Change -331.25% -96.55% -182.92%
FREE CASH FLOW
Cash From Operating Activities $11.20M $11.80M $30.00M
Capital Expenditures -$200.0K -$200.0K -$500.0K
Free Cash Flow $11.40M $12.00M $30.50M
YoY Change

Facts In Submission

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DebtInstrumentCarryingAmount
237656000
CY2015Q4 us-gaap Debt Instrument Unamortized Discount Premium Net
DebtInstrumentUnamortizedDiscountPremiumNet
-546000
CY2013Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
173099000
CY2014 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
30316000
CY2014 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetIssues
508000
CY2014 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
7637000
CY2014 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
40000
CY2014 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
71357000
CY2014Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
267683000
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2273959
CY2015 us-gaap Employee Service Share Based Compensation Cash Flow Effect Cash Used To Settle Awards
EmployeeServiceShareBasedCompensationCashFlowEffectCashUsedToSettleAwards
5000000
CY2015Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
6300000
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
0
CY2015 dea Operating Partnership Dividend Rate Percentage
OperatingPartnershipDividendRatePercentage
0.10
CY2015 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2015-06-03
CY2015Q3 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2015-08-04
CY2015Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.21
CY2015Q3 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2015-08-18
CY2015Q3 dea Operating Partnership Dividend Rate Percentage
OperatingPartnershipDividendRatePercentage
0.10
CY2015Q3 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2015-09-03
CY2015Q4 us-gaap Dividends Payable Date Declared Day Month And Year
DividendsPayableDateDeclaredDayMonthAndYear
2015-11-03
CY2015Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.22
CY2015Q4 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2015-11-17
CY2015Q4 dea Operating Partnership Dividend Rate Percentage
OperatingPartnershipDividendRatePercentage
0.10
CY2015Q4 us-gaap Dividend Payable Date To Be Paid Day Month And Year
DividendPayableDateToBePaidDayMonthAndYear
2015-12-03
CY2015 dea Dividends On Participating Securities
DividendsOnParticipatingSecurities
63000
CY2015 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1757000
CY2015 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
21430016
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
475607000
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
61643000
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
60552000
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
58026000
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
52189000
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
46451000
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
196746000
CY2015Q4 dea Percent Of Consolidated Properties Occupied
PercentOfConsolidatedPropertiesOccupied
1.00
CY2015 us-gaap Operating Leases Income Statement Minimum Lease Revenue
OperatingLeasesIncomeStatementMinimumLeaseRevenue
59900000
CY2015Q4 dea Number Of Tenants Occupied Leased Property
NumberOfTenantsOccupiedLeasedProperty
19
CY2015 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
200000
CY2015 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
-4900000
CY2015Q4 dea Tax Protection Agreement Period
TaxProtectionAgreementPeriod
P8Y
CY2015Q4 dea Property Acquisition Tax Protection Committed Amount
PropertyAcquisitionTaxProtectionCommittedAmount
15700000
CY2015Q4 dea Property Acquisition Tax Protection Committed Amount Thereafter
PropertyAcquisitionTaxProtectionCommittedAmountThereafter
7200000
CY2015Q2 us-gaap Revenues
Revenues
19256000
CY2015Q3 us-gaap Revenues
Revenues
19857000
CY2015Q4 us-gaap Revenues
Revenues
22174000
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-2885000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
588000
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
498000
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
105000
CY2015Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.22
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.02
CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.02
CY2015Q4 us-gaap Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
83785000
CY2015Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
97899000
CY2015Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
690219000
CY2015Q4 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Carrying Costs
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts
479000
CY2015Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
97899000
CY2015Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
690698000
CY2015Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
788597000
CY2015Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
16590000
CY2015 us-gaap Real Estate Improvements
RealEstateImprovements
788597000
CY2015 us-gaap Real Estate Accumulated Depreciation Other Additions
RealEstateAccumulatedDepreciationOtherAdditions
16590000

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