$EQC
Equity Commonwealth

2023 Q4 Form 10-Q Financial Statement

#000080364923000082 Filed on October 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $15.15M $15.21M
YoY Change -4.06% 0.57%
Cost Of Revenue $6.542M $6.700M
YoY Change -6.36% 10.32%
Gross Profit $8.604M $8.500M
YoY Change -2.24% -6.11%
Gross Profit Margin 56.81% 55.88%
Selling, General & Admin $7.504M $7.100M
YoY Change 5.14% -6.49%
% of Gross Profit 87.22% 83.53%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.514M $4.436M
YoY Change -11.33% -0.34%
% of Gross Profit 40.84% 52.19%
Operating Expenses $11.69M $11.50M
YoY Change -0.71% -4.52%
Operating Profit -$3.084M -$3.000M
YoY Change 3.84% 0.3%
Interest Expense $29.67M $29.30M
YoY Change 22.28% 93.46%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $26.59M $26.26M
YoY Change 24.82% 114.49%
Income Tax -$40.00K $30.00K
% Of Pretax Income -0.15% 0.11%
Net Earnings $24.55M $26.15M
YoY Change 30.06% 114.49%
Net Earnings / Revenue 162.1% 171.88%
Basic Earnings Per Share
Diluted Earnings Per Share $0.23 $0.22
COMMON SHARES
Basic Shares Outstanding 106.7M shares 109.7M shares
Diluted Shares Outstanding 110.2M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.161B $2.128B
YoY Change -16.33% -20.97%
Cash & Equivalents $2.200B $2.100B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $15.74M $15.20M
Other Receivables $0.00 $0.00
Total Short-Term Assets $2.176B $2.143B
YoY Change -16.24% -20.88%
LONG-TERM ASSETS
Property, Plant & Equipment $231.4M $232.8M
YoY Change -3.03% -3.59%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $248.8M $250.8M
YoY Change -3.07% -3.52%
TOTAL ASSETS
Total Short-Term Assets $2.176B $2.143B
Total Long-Term Assets $248.8M $250.8M
Total Assets $2.425B $2.394B
YoY Change -15.06% -19.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $27.30M $23.00M
YoY Change 5.26% 5.97%
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 $32.94M $29.40M
YoY Change 14.38% -78.27%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.990M $2.100M
YoY Change -15.5% -20.36%
Total Long-Term Liabilities $1.990M $2.100M
YoY Change -15.5% -20.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.94M $29.40M
Total Long-Term Liabilities $1.990M $2.100M
Total Liabilities $34.93M $31.55M
YoY Change 12.12% -77.13%
SHAREHOLDERS EQUITY
Retained Earnings $3.927B $3.900B
YoY Change 2.38% 2.24%
Common Stock $3.937B $3.931B
YoY Change -1.1% -1.87%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.385B $2.354B
YoY Change
Total Liabilities & Shareholders Equity $2.425B $2.394B
YoY Change -15.06% -19.36%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $24.55M $26.15M
YoY Change 30.06% 114.49%
Depreciation, Depletion And Amortization $3.514M $4.436M
YoY Change -11.33% -0.34%
Cash From Operating Activities $35.87M $35.00M
YoY Change 9.83% 89.84%
INVESTING ACTIVITIES
Capital Expenditures $1.091M $1.500M
YoY Change 181.19% -326.59%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$1.091M -$1.500M
YoY Change 186.35% 162.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.964M -58.80M
YoY Change -98.62% 245.6%
NET CHANGE
Cash From Operating Activities 35.87M 35.00M
Cash From Investing Activities -1.091M -1.500M
Cash From Financing Activities -1.964M -58.80M
Net Change In Cash 32.81M -25.30M
YoY Change -129.79% -3072.97%
FREE CASH FLOW
Cash From Operating Activities $35.87M $35.00M
Capital Expenditures $1.091M $1.500M
Free Cash Flow $34.78M $33.50M
YoY Change 7.77% 75.4%

Facts In Submission

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CY2022Q3 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1816000 usd
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
30000 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
23000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1906000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
81000 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
1650000 shares
CY2023Q2 eqc Number Of Trustees In Board Of Trustees
NumberOfTrusteesInBoardOfTrustees
6 trustee
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
100000 usd
CY2023Q2 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
100000 usd
CY2022Q2 eqc Number Of Trustees In Board Of Trustees
NumberOfTrusteesInBoardOfTrustees
6 trustee
CY2022Q2 us-gaap Stock Issued During Period Value Share Based Compensation Gross
StockIssuedDuringPeriodValueShareBasedCompensationGross
100000 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
0 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
0 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
5200000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
400000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2073350 shares
CY2023Q3 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
0 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
26232000 usd
us-gaap Profit Loss
ProfitLoss
64819000 usd
us-gaap Profit Loss
ProfitLoss
16429000 usd
CY2023Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
86000 usd
CY2022Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
31000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
204000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
41000 usd
CY2023Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1997000 usd
CY2022Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
1997000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
5991000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
5991000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
24149000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
10193000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
58624000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
10397000 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
26232000 usd
CY2023Q3 us-gaap Dilutive Securities
DilutiveSecurities
-1997000 usd
CY2022Q3 us-gaap Dilutive Securities
DilutiveSecurities
-1997000 usd
us-gaap Dilutive Securities
DilutiveSecurities
-5991000 usd
us-gaap Dilutive Securities
DilutiveSecurities
-5991000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
24149000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
10193000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
58624000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
10397000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
108931000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
111305000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
109494000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
112341000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
110217000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
112596000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
110916000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
113383000 shares
CY2023Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.22
CY2022Q3 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.09
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.54
us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.09
CY2023Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.22
CY2022Q3 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.09
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.53
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.09
CY2023Q3 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0650
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0650
CY2022Q3 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0650
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.0650
CY2023Q3 eqc Weighted Average Number Of Shares Restricted Stock Units Unvested
WeightedAverageNumberOfSharesRestrictedStockUnitsUnvested
131000 shares
CY2022Q3 eqc Weighted Average Number Of Shares Restricted Stock Units Unvested
WeightedAverageNumberOfSharesRestrictedStockUnitsUnvested
86000 shares
eqc Weighted Average Number Of Shares Restricted Stock Units Unvested
WeightedAverageNumberOfSharesRestrictedStockUnitsUnvested
125000 shares
eqc Weighted Average Number Of Shares Restricted Stock Units Unvested
WeightedAverageNumberOfSharesRestrictedStockUnitsUnvested
111000 shares
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

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eqc-20230930_pre.xml Edgar Link unprocessable
eqc-20230930_def.xml Edgar Link unprocessable
0000803649-23-000082-index-headers.html Edgar Link pending
0000803649-23-000082-index.html Edgar Link pending
0000803649-23-000082.txt Edgar Link pending
0000803649-23-000082-xbrl.zip Edgar Link pending
eqc-20230930.htm Edgar Link pending
eqc-20230930.xsd Edgar Link pending
eqc93023exhibit311.htm Edgar Link pending
eqc93023exhibit312.htm Edgar Link pending
eqc93023exhibit321.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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eqc-20230930_cal.xml Edgar Link unprocessable
eqc-20230930_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
eqc-20230930_htm.xml Edgar Link completed
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