2020 Q1 Form 10-Q Financial Statement

#000080364920000056 Filed on May 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $18.82M $41.75M
YoY Change -54.92% -28.74%
Cost Of Revenue $8.800M $15.80M
YoY Change -44.3% -35.77%
Gross Profit $10.10M $26.00M
YoY Change -61.15% -23.53%
Gross Profit Margin 53.67% 62.27%
Selling, General & Admin $10.60M $12.10M
YoY Change -12.4% -9.02%
% of Gross Profit 104.95% 46.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.114M $8.585M
YoY Change -40.43% -38.25%
% of Gross Profit 50.63% 33.02%
Operating Expenses $15.70M $15.78M
YoY Change -0.51% -35.85%
Operating Profit -$5.600M $10.22M
YoY Change -154.79% -291.39%
Interest Expense $309.0K $4.206M
YoY Change -92.65% -58.42%
% of Operating Profit 41.15%
Other Income/Expense, Net
YoY Change
Pretax Income $425.5M $211.9M
YoY Change 100.83% 11.13%
Income Tax $40.00K $1.300M
% Of Pretax Income 0.01% 0.61%
Net Earnings $424.8M $210.5M
YoY Change 101.77% 12.22%
Net Earnings / Revenue 2256.96% 504.21%
Basic Earnings Per Share $1.71
Diluted Earnings Per Share $3.355M $1.67
COMMON SHARES
Basic Shares Outstanding 122.1M shares 122.0M shares
Diluted Shares Outstanding 126.6M shares 125.8M shares

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.348B $3.070B
YoY Change 9.08% 8.17%
Cash & Equivalents $3.348B $3.070B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $15.00M $31.20M
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.363B $3.101B
YoY Change 8.47% 7.16%
LONG-TERM ASSETS
Property, Plant & Equipment $259.1M $569.0M
YoY Change -54.46% -34.4%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $59.10M $1.800M
YoY Change 3183.33% -96.08%
Total Long-Term Assets $340.8M $613.2M
YoY Change -44.43% -50.69%
TOTAL ASSETS
Total Short-Term Assets $3.363B $3.101B
Total Long-Term Assets $340.8M $613.2M
Total Assets $3.704B $3.714B
YoY Change -0.27% -10.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $26.00M $42.30M
YoY Change -38.53% 0.71%
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 $31.80M $42.30M
YoY Change -24.82% -8.84%
LONG-TERM LIABILITIES
Long-Term Debt $25.50M $275.0M
YoY Change -90.73% -59.47%
Other Long-Term Liabilities $2.200M $5.100M
YoY Change -56.86% -53.21%
Total Long-Term Liabilities $27.70M $280.1M
YoY Change -90.11% -59.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.80M $42.30M
Total Long-Term Liabilities $27.70M $280.1M
Total Liabilities $59.44M $322.4M
YoY Change -81.56% -56.19%
SHAREHOLDERS EQUITY
Retained Earnings $3.788B $3.081B
YoY Change 22.94% 10.62%
Common Stock $4.286B $4.306B
YoY Change -0.45% 0.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.638B $3.390B
YoY Change
Total Liabilities & Shareholders Equity $3.704B $3.714B
YoY Change -0.27% -10.23%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $424.8M $210.5M
YoY Change 101.77% 12.22%
Depreciation, Depletion And Amortization $5.114M $8.585M
YoY Change -40.43% -38.25%
Cash From Operating Activities $11.78M $12.77M
YoY Change -7.77% -3542.05%
INVESTING ACTIVITIES
Capital Expenditures -$1.500M
YoY Change
Acquisitions
YoY Change
Other Investing Activities $572.6M $663.0M
YoY Change -13.63% -11.79%
Cash From Investing Activities $571.1M $663.0M
YoY Change -13.87% -11.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $26.88M $5.342M
YoY Change 403.2% -94.06%
Debt Paid & Issued, Net $148.0K $143.0K
YoY Change 3.5% -99.92%
Cash From Financing Activities -$31.96M -$8.642M
YoY Change 269.81% -96.77%
NET CHANGE
Cash From Operating Activities $11.78M $12.77M
Cash From Investing Activities $571.1M $663.0M
Cash From Financing Activities -$31.96M -$8.642M
Net Change In Cash $550.9M $667.2M
YoY Change -17.43% 37.82%
FREE CASH FLOW
Cash From Operating Activities $11.78M $12.77M
Capital Expenditures -$1.500M
Free Cash Flow $13.28M
YoY Change

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RepaymentsOfLongTermDebt
143000 USD
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1936000 USD
CY2019Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
1160000 USD
CY2020Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
1997000 USD
CY2019Q1 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
1997000 USD
CY2020Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
997000 USD
CY2019Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
0 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-31959000 USD
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-8642000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
550878000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
667167000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2800645000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2404101000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3351523000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3071268000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
366000 USD
CY2019Q1 us-gaap Interest Paid Net
InterestPaidNet
7714000 USD
CY2020Q1 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
2045000 USD
CY2019Q1 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
2000 USD
CY2020Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
CY2019Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1503000 USD
CY2020Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1071000 USD
CY2019Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2907000 USD
CY2020Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
5791000 USD
CY2019Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
2872000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3348349000 USD
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3069501000 USD
CY2020Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3174000 USD
CY2019Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
1767000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3351523000 USD
CY2019Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3071268000 USD
CY2020Q1 eqc Number Of Real Estate Properties Held For Sale
NumberOfRealEstatePropertiesHeldForSale
1 property
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3300000000 USD
CY2020Q1 us-gaap Real Estate Improvements
RealEstateImprovements
1200000 USD
CY2019Q1 us-gaap Real Estate Improvements
RealEstateImprovements
3700000 USD
CY2020Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
11770000 USD
CY2019Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
27905000 USD
CY2020Q1 us-gaap Variable Lease Income
VariableLeaseIncome
5373000 USD
CY2019Q1 us-gaap Variable Lease Income
VariableLeaseIncome
10985000 USD
CY2020Q1 us-gaap Lease Income
LeaseIncome
17143000 USD
CY2019Q1 us-gaap Lease Income
LeaseIncome
38890000 USD
CY2019Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
3.50
CY2019Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
427700000 USD
CY2020Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
3.50
CY2020Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
2900000 USD
CY2020Q1 eqc Common Stock Conversion Term
CommonStockConversionTerm
P6M
CY2020Q1 eqc Common Stock Conversion Basis Shares
CommonStockConversionBasisShares
1 shares
CY2020Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
40000 USD
CY2019Q1 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
300000 USD
CY2020Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
0 USD
CY2019Q1 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
1000000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
40000 USD
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1300000 USD
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
25000 USD
CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
500000 USD
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2286319 shares
CY2020Q1 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
0 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
425507000 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
210597000 USD
CY2020Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
748000 USD
CY2019Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
79000 USD
CY2020Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1997000 USD
CY2019Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1997000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
422762000 USD
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
208521000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
425507000 USD
CY2019Q1 us-gaap Profit Loss
ProfitLoss
210597000 USD
CY2020Q1 eqc Net Income Loss Attributable To Noncontrolling Interest Diluted
NetIncomeLossAttributableToNoncontrollingInterestDiluted
748000 USD
CY2019Q1 eqc Net Income Loss Attributable To Noncontrolling Interest Diluted
NetIncomeLossAttributableToNoncontrollingInterestDiluted
79000 USD
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
424759000 USD
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
210518000 USD
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
122148000 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
121960000 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126605000 shares
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
125822000 shares
CY2020Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
3.46
CY2019Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
1.71
CY2020Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
3.35
CY2019Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
1.67
CY2020Q1 eqc Weighted Average Number Of Shares Restricted Stock Units Unvested
WeightedAverageNumberOfSharesRestrictedStockUnitsUnvested
177000 shares
CY2019Q1 eqc Weighted Average Number Of Shares Restricted Stock Units Unvested
WeightedAverageNumberOfSharesRestrictedStockUnitsUnvested
187000 shares
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2020Q1 eqc Percentage Of Real Estate Properties Considered As Office Properties
PercentageOfRealEstatePropertiesConsideredAsOfficeProperties
1

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