$DEA
Easterly Government Properties Inc

2019 Q2 Form 10-Q Financial Statement

#000156459019028361 Filed on August 02, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $52.75M $36.97M
YoY Change 42.67% 20.81%
Cost Of Revenue $16.40M $7.223M
YoY Change 127.05% 23.75%
Gross Profit $36.35M $29.75M
YoY Change 22.19% 20.12%
Gross Profit Margin 68.91% 80.46%
Selling, General & Admin $4.670M $3.620M
YoY Change 29.01% 15.29%
% of Gross Profit 12.85% 12.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.90M $14.60M
YoY Change 56.85% 10.61%
% of Gross Profit 63.0% 49.08%
Operating Expenses $27.64M $18.21M
YoY Change 51.78% 10.97%
Operating Profit $8.710M $7.194M
YoY Change 21.07% 52.19%
Interest Expense -$8.020M -$5.475M
YoY Change 46.48% 47.42%
% of Operating Profit -92.08% -76.11%
Other Income/Expense, Net
YoY Change
Pretax Income $6.490M $1.720M
YoY Change 277.33% 43.33%
Income Tax
% Of Pretax Income
Net Earnings $5.642M $1.440M
YoY Change 291.81% 46.64%
Net Earnings / Revenue 10.7% 3.89%
Basic Earnings Per Share $0.08 $0.02
Diluted Earnings Per Share $0.08 $0.02
COMMON SHARES
Basic Shares Outstanding 68.25M 47.53M
Diluted Shares Outstanding 68.42M 49.12M

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.700M $147.5M
YoY Change -93.42% 2318.03%
Cash & Equivalents $14.92M $153.8M
Short-Term Investments
Other Short-Term Assets $14.80M $10.40M
YoY Change 42.31% 235.48%
Inventory
Prepaid Expenses
Receivables $13.40M $8.200M
Other Receivables $25.30M $14.10M
Total Short-Term Assets $63.20M $180.2M
YoY Change -64.93% 644.63%
LONG-TERM ASSETS
Property, Plant & Equipment $1.858B $1.254B
YoY Change 48.09% 12.3%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.300M $10.10M
YoY Change -27.72% 102.0%
Total Long-Term Assets $2.044B $1.419B
YoY Change 44.02% 13.23%
TOTAL ASSETS
Total Short-Term Assets $63.20M $180.2M
Total Long-Term Assets $2.044B $1.419B
Total Assets $2.107B $1.599B
YoY Change 31.75% 25.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $42.60M $25.30M
YoY Change 68.38% 74.48%
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 $42.60M $25.30M
YoY Change 68.38% 74.48%
LONG-TERM LIABILITIES
Long-Term Debt $892.2M $484.2M
YoY Change 84.26% -11.25%
Other Long-Term Liabilities $34.50M $33.90M
YoY Change 1.77% -11.26%
Total Long-Term Liabilities $926.7M $518.1M
YoY Change 78.87% -11.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.60M $25.30M
Total Long-Term Liabilities $926.7M $518.1M
Total Liabilities $1.111B $682.0M
YoY Change 62.84% -4.28%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $996.7M $917.4M
YoY Change
Total Liabilities & Shareholders Equity $2.107B $1.599B
YoY Change 31.75% 25.19%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income $5.642M $1.440M
YoY Change 291.81% 46.64%
Depreciation, Depletion And Amortization $22.90M $14.60M
YoY Change 56.85% 10.61%
Cash From Operating Activities $24.40M $16.50M
YoY Change 47.88% 19.57%
INVESTING ACTIVITIES
Capital Expenditures -$16.30M -$12.30M
YoY Change 32.52% 167.39%
Acquisitions
YoY Change
Other Investing Activities -$89.30M -$20.30M
YoY Change 339.9% -90.12%
Cash From Investing Activities -$105.6M -$32.50M
YoY Change 224.92% -84.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 82.80M 155.8M
YoY Change -46.85% -21.59%
NET CHANGE
Cash From Operating Activities 24.40M 16.50M
Cash From Investing Activities -105.6M -32.50M
Cash From Financing Activities 82.80M 155.8M
Net Change In Cash 1.600M 139.8M
YoY Change -98.86% 5725.0%
FREE CASH FLOW
Cash From Operating Activities $24.40M $16.50M
Capital Expenditures -$16.30M -$12.30M
Free Cash Flow $40.70M $28.80M
YoY Change 41.32% 56.52%

Facts In Submission

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us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
2521000
us-gaap Profit Loss
ProfitLoss
3534000
CY2019Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
5100000
dea Common Unit Dividend Rate Percentage
CommonUnitDividendRatePercentage
0.10
CY2017Q1 dea Aggregate Offering Price Of Shares Of Common Stock That Company May Issue And Sell
AggregateOfferingPriceOfSharesOfCommonStockThatCompanyMayIssueAndSell
100000000.0
CY2019Q2 us-gaap Profit Loss
ProfitLoss
6491000
dea Leased Property Average Age
LeasedPropertyAverageAge
P16Y1M6D
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1365104000
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
158378000
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
136736000
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
119423000
CY2019Q2 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
111137000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1251546000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
151152000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
139315000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
116827000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
99822000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
92392000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
652038000
dea Number Of Lease Agreement
NumberOfLeaseAgreement
2
CY2019Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1200000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1200000
us-gaap Operating Lease Cost
OperatingLeaseCost
231000
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0384
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0384

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