2013 Form 10-K Financial Statement

#000144530514001129 Filed on March 24, 2014

View on sec.gov

Income Statement

Concept 2013 2012 Q4 2012 Q3
Revenue $206.1M $83.63M $59.42M
YoY Change -20.83% -12.15% -13.64%
Cost Of Revenue $148.2M $30.30M $24.90M
YoY Change 40.21% -15.6% -30.45%
Gross Profit $185.4M $53.30M $34.50M
YoY Change 19.92% -10.27% 4.55%
Gross Profit Margin 89.97% 63.73% 58.07%
Selling, General & Admin $43.40M $7.200M $6.600M
YoY Change 107.03% 118.18% -1.49%
% of Gross Profit 23.41% 13.51% 19.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $66.30M $12.50M $12.20M
YoY Change 39.29% 16.82% 11.93%
% of Gross Profit 35.76% 23.45% 35.36%
Operating Expenses $109.7M $18.00M $17.70M
YoY Change -36.07% 38.46% 9.26%
Operating Profit $75.70M $35.30M $16.80M
YoY Change -14.65% -23.92% 0.0%
Interest Expense -$48.90M -$14.20M -$13.70M
YoY Change -189.9% 9.23% -13.84%
% of Operating Profit -64.6% -40.23% -81.55%
Other Income/Expense, Net
YoY Change
Pretax Income $156.2M $21.20M $3.100M
YoY Change 221.12% -36.53% 244.44%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income 0.0% 0.0% 0.0%
Net Earnings -$37.23M $22.04M $9.015M
YoY Change -176.54% -11.83% 73.37%
Net Earnings / Revenue -18.07% 26.36% 15.17%
Basic Earnings Per Share
Diluted Earnings Per Share $786.6K $242.3K $99.12K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2013 2012 Q4 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $60.70M $51.50M $93.20M
YoY Change 17.86% -40.32% -25.97%
Cash & Equivalents $60.70M $51.50M $93.20M
Short-Term Investments
Other Short-Term Assets $35.40M $12.50M $9.300M
YoY Change 183.2% 10.62% 6.9%
Inventory
Prepaid Expenses
Receivables $24.80M $8.700M $7.100M
Other Receivables $62.70M $49.80M $49.40M
Total Short-Term Assets $183.6M $122.5M $159.0M
YoY Change 49.88% -22.71% -18.21%
LONG-TERM ASSETS
Property, Plant & Equipment $1.354B $682.2M $675.1M
YoY Change 98.49% 7.93% 8.97%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $76.88M $100.8M
YoY Change -100.0% 5.86% 14.94%
Other Assets $134.6M $124.5M $118.4M
YoY Change 8.11% 21.46% 26.63%
Total Long-Term Assets $2.293B $853.2M $894.3M
YoY Change 146.48% 0.79% 11.68%
TOTAL ASSETS
Total Short-Term Assets $183.6M $122.5M $159.0M
Total Long-Term Assets $2.293B $853.2M $894.3M
Total Assets $2.476B $975.7M $1.053B
YoY Change 135.24% -2.92% 5.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.800M $12.40M $34.50M
YoY Change -85.48% -27.91% 49.35%
Accrued Expenses $4.100M $3.400M $3.100M
YoY Change 20.59% 17.24% 6.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $18.30M $18.50M
YoY Change -100.0% 0.0% 1.09%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $37.30M $51.00M $59.10M
YoY Change -43.05% -14.0% -2.48%
LONG-TERM LIABILITIES
Long-Term Debt $1.208B $978.2M $972.8M
YoY Change 23.5% 6.16% 5.85%
Other Long-Term Liabilities $151.5M $7.400M $6.700M
YoY Change 1947.3% 25.42% -16.25%
Total Long-Term Liabilities $1.360B $985.6M $979.5M
YoY Change 37.95% 6.29% 5.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.30M $51.00M $59.10M
Total Long-Term Liabilities $1.360B $985.6M $979.5M
Total Liabilities $2.091B $1.063B $1.073B
YoY Change 96.62% 5.95% 6.73%
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 $385.2M -$10.90M -$19.70M
YoY Change
Total Liabilities & Shareholders Equity $2.476B $1.053B $1.053B
YoY Change 135.24% 4.74% 5.84%

Cashflow Statement

Concept 2013 2012 Q4 2012 Q3
OPERATING ACTIVITIES
Net Income -$37.23M $22.04M $9.015M
YoY Change -176.54% -11.83% 73.37%
Depreciation, Depletion And Amortization $66.30M $12.50M $12.20M
YoY Change 39.29% 16.82% 11.93%
Cash From Operating Activities -$58.50M $8.800M $18.90M
YoY Change -161.97% -175.21% -34.83%
INVESTING ACTIVITIES
Capital Expenditures -$112.6M -$34.40M -$5.000M
YoY Change 28.69% 89.01% -81.2%
Acquisitions
YoY Change
Other Investing Activities -$564.2M -$4.100M -$1.600M
YoY Change 2612.5% 4000.0%
Cash From Investing Activities -$676.8M -$38.50M -$6.700M
YoY Change 524.93% 110.38% -74.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 744.5M -12.00M 17.20M
YoY Change -3662.2% 25.0% -53.39%
NET CHANGE
Cash From Operating Activities -58.50M 8.800M 18.90M
Cash From Investing Activities -676.8M -38.50M -6.700M
Cash From Financing Activities 744.5M -12.00M 17.20M
Net Change In Cash 9.200M -41.70M 29.40M
YoY Change -126.44% 5.3% -25.19%
FREE CASH FLOW
Cash From Operating Activities -$58.50M $8.800M $18.90M
Capital Expenditures -$112.6M -$34.40M -$5.000M
Free Cash Flow $54.10M $43.20M $23.90M
YoY Change -70.26% 564.62% -57.01%

Facts In Submission

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295351000 USD
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CY2013Q4 us-gaap Repayments Of Unsecured Debt
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7350000 USD
CY2013Q4 us-gaap Restricted Cash And Cash Equivalents
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CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
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67644000 USD
CY2013Q4 us-gaap Revenues
Revenues
127583000 USD
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Revenues
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Revenues
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Revenues
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Revenues
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Revenues
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Revenues
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Revenues
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Revenues
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Revenues
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CY2013Q3 us-gaap Revenues
Revenues
62278000 USD
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Revenues
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CY2011 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
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CY2013Q4 us-gaap Tenant Reimbursements
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CY2013Q4 us-gaap Security Deposit Liability
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31406000 USD
CY2013Q4 us-gaap Selling General And Administrative Expense
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CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1
P10Y
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
13.00
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
13.00
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
13.00
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
13.00
CY2013Q4 us-gaap Stock Issued1
StockIssued1
457493000 USD
CY2013Q4 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
373000 USD
CY2013Q4 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
2621000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
385158000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1003185000 USD
CY2013Q4 us-gaap Straight Line Rent
StraightLineRent
8932000 USD
CY2013 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Accounting Estimates </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the consolidated and combined financial statements in accordance with GAAP requires management to use estimates and assumptions that in certain circumstances affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Significant items subject to such estimates and assumptions include allocation of the purchase price of acquired real estate properties among tangible and intangible assets, determination of the useful life of real estate properties and other long-lived assets, valuation and impairment analysis of combined and uncombined commercial real estate properties and other long-lived assets, estimate of percentage of completion on construction contracts, valuation of the allowance for doubtful accounts, and valuation of equity based compensation. These estimates are prepared using management&#8217;s best judgment, after considering past, current, and expected events and economic conditions. Actual results could differ from those estimates. </font></div></div>
CY2013Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
95611000 shares
CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
95574000 shares
CY2013 dei Amendment Flag
AmendmentFlag
false
CY2013 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2013 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2013 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013 dei Document Period End Date
DocumentPeriodEndDate
2013-12-31
CY2013 dei Document Type
DocumentType
10-K
CY2013 dei Entity Central Index Key
EntityCentralIndexKey
0001541401
CY2013 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2013 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2013Q2 dei Entity Public Float
EntityPublicFloat
0 USD
CY2013 dei Entity Registrant Name
EntityRegistrantName
Empire State Realty Trust, Inc.
CY2013 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

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