$FRT
FEDERAL REALTY INVESTMENT TRUST

2020 Q2 Form 10-Q Financial Statement

#000003490320000031 Filed on August 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $176.2M $230.5M
YoY Change -23.53% 2.47%
Cost Of Revenue $67.00M $66.60M
YoY Change 0.6% -2.35%
Gross Profit $109.2M $163.9M
YoY Change -33.37% 4.59%
Gross Profit Margin 61.97% 71.12%
Selling, General & Admin $9.800M $11.40M
YoY Change -14.04% 35.71%
% of Gross Profit 8.97% 6.96%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $62.80M $59.10M
YoY Change 6.26% 1.2%
% of Gross Profit 57.51% 36.06%
Operating Expenses $139.6M $137.1M
YoY Change 1.85% 1.54%
Operating Profit $48.30M $109.6M
YoY Change -55.93% 16.74%
Interest Expense $34.07M $27.48M
YoY Change 23.98% -1.02%
% of Operating Profit 70.55% 25.08%
Other Income/Expense, Net
YoY Change
Pretax Income $10.90M $82.70M
YoY Change -86.82% 26.26%
Income Tax
% Of Pretax Income
Net Earnings $10.51M $80.90M
YoY Change -87.01% 27.21%
Net Earnings / Revenue 5.96% 35.1%
Basic Earnings Per Share $0.11 $1.05
Diluted Earnings Per Share $0.11 $1.05
COMMON SHARES
Basic Shares Outstanding 75.39M shares 74.71M shares
Diluted Shares Outstanding 75.39M shares 74.71M shares

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $980.0M $105.9M
YoY Change 825.4% 88.77%
Cash & Equivalents $980.0M $105.9M
Short-Term Investments
Other Short-Term Assets $185.1M $169.1M
YoY Change 9.46% -37.07%
Inventory
Prepaid Expenses
Receivables $167.6M $138.9M
Other Receivables $30.40M $30.40M
Total Short-Term Assets $1.363B $444.3M
YoY Change 206.8% -12.04%
LONG-TERM ASSETS
Property, Plant & Equipment $6.382B $5.868B
YoY Change 8.75% 2.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $22.90M $30.80M
YoY Change -25.65% 36.28%
Other Assets $22.30M $40.30M
YoY Change -44.67% 44.96%
Total Long-Term Assets $6.427B $5.939B
YoY Change 8.21% 2.45%
TOTAL ASSETS
Total Short-Term Assets $1.363B $444.3M
Total Long-Term Assets $6.427B $5.939B
Total Assets $7.790B $6.384B
YoY Change 22.03% 1.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $244.5M $177.1M
YoY Change 38.06% -0.9%
Accrued Expenses $73.50M $74.50M
YoY Change -1.34%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $418.8M $351.0M
YoY Change 19.32% 29.23%
LONG-TERM LIABILITIES
Long-Term Debt $4.534B $3.230B
YoY Change 40.38% -2.73%
Other Long-Term Liabilities $146.4M $157.5M
YoY Change -7.05% -13.27%
Total Long-Term Liabilities $4.680B $3.387B
YoY Change 38.17% -3.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $418.8M $351.0M
Total Long-Term Liabilities $4.680B $3.387B
Total Liabilities $5.099B $3.738B
YoY Change 36.4% -0.94%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.171B $3.090B
YoY Change 2.64% 7.08%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.434B $2.407B
YoY Change
Total Liabilities & Shareholders Equity $7.790B $6.384B
YoY Change 22.03% 1.29%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income $10.51M $80.90M
YoY Change -87.01% 27.21%
Depreciation, Depletion And Amortization $62.80M $59.10M
YoY Change 6.26% 1.2%
Cash From Operating Activities $62.70M $137.4M
YoY Change -54.37% -1.08%
INVESTING ACTIVITIES
Capital Expenditures -$123.5M -$92.80M
YoY Change 33.08% -5.5%
Acquisitions
YoY Change
Other Investing Activities $18.20M $83.40M
YoY Change -78.18% 26.94%
Cash From Investing Activities -$105.4M -$9.400M
YoY Change 1021.28% -71.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 24.50M -70.00M
YoY Change -135.0% -1.69%
NET CHANGE
Cash From Operating Activities 62.70M 137.4M
Cash From Investing Activities -105.4M -9.400M
Cash From Financing Activities 24.50M -70.00M
Net Change In Cash -18.20M 58.00M
YoY Change -131.38% 64.77%
FREE CASH FLOW
Cash From Operating Activities $62.70M $137.4M
Capital Expenditures -$123.5M -$92.80M
Free Cash Flow $186.2M $230.2M
YoY Change -19.11% -2.91%

Facts In Submission

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NetIncomeLossAvailableToCommonStockholdersBasic
78891000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
61249000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
137025000 USD
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.11
CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
1.05
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.81
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
1.83
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
75394000 shares
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
74713000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
75377000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
74458000 shares
CY2020Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
10366000 USD
CY2019Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
82268000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
60355000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
143862000 USD
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
10014000 USD
CY2019Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
80503000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
58325000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
140438000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2636132000 USD
frt Adoptionofnewaccountingstandard
Adoptionofnewaccountingstandard
-510000 USD
frt Profit Loss Excluding Redeemable Noncontrolling Interests
ProfitLossExcludingRedeemableNoncontrollingInterests
66143000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-6945000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
158810000 USD
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
4021000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
1677000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
955000 USD
frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
7029000 USD
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3997000 USD
frt Conversion And Redemption Of Operating Partnership Units
ConversionAndRedemptionOfOperatingPartnershipUnits
3320000 USD
frt Contributionsfromnoncontrollinginterests
Contributionsfromnoncontrollinginterests
120000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2531101000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2599608000 USD
CY2020Q2 frt Profit Loss Excluding Redeemable Noncontrolling Interests
ProfitLossExcludingRedeemableNoncontrollingInterests
10717000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-493000 USD
CY2020Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
79407000 USD
CY2020Q2 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
2011000 USD
CY2020Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
894000 USD
CY2020Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
0 USD
CY2020Q2 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
509000 USD
CY2020Q2 frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
3087000 USD
CY2020Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
15000 USD
CY2020Q2 frt Conversion And Redemption Of Operating Partnership Units
ConversionAndRedemptionOfOperatingPartnershipUnits
0 USD
CY2020Q2 frt Contributionsfromnoncontrollinginterests
Contributionsfromnoncontrollinginterests
0 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2531101000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2467330000 USD
frt Adoptionofnewaccountingstandard
Adoptionofnewaccountingstandard
-7098000 USD
frt Profit Loss Excluding Redeemable Noncontrolling Interests
ProfitLossExcludingRedeemableNoncontrollingInterests
142687000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-608000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
152555000 USD
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
4021000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
7664000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
68304000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
1054000 USD
frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
6992000 USD
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
4442000 USD
frt Conversion And Redemption Of Operating Partnership Units
ConversionAndRedemptionOfOperatingPartnershipUnits
0 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
-667000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2510646000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2501563000 USD
CY2019Q2 frt Profit Loss Excluding Redeemable Noncontrolling Interests
ProfitLossExcludingRedeemableNoncontrollingInterests
81760000 USD
CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-399000 USD
CY2019Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
76449000 USD
CY2019Q2 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
2011000 USD
CY2019Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
6398000 USD
CY2019Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
8951000 USD
CY2019Q2 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
526000 USD
CY2019Q2 frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
3131000 USD
CY2019Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
28000 USD
CY2019Q2 frt Conversion And Redemption Of Operating Partnership Units
ConversionAndRedemptionOfOperatingPartnershipUnits
0 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2510646000 USD
us-gaap Profit Loss
ProfitLoss
67300000 USD
us-gaap Profit Loss
ProfitLoss
144470000 USD
frt Adjustment Depreciation And Amortization
AdjustmentDepreciationAndAmortization
124972000 USD
frt Adjustment Depreciation And Amortization
AdjustmentDepreciationAndAmortization
118679000 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
11682000 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
16197000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-5036000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1053000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-5240000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-2138000 USD
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
17128000 USD
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
5325000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-15887000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-7800000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
5756000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1493000 USD
frt Increase Decrease In Security Deposits And Other Liabilities
IncreaseDecreaseInSecurityDepositsAndOtherLiabilities
-13999000 USD
frt Increase Decrease In Security Deposits And Other Liabilities
IncreaseDecreaseInSecurityDepositsAndOtherLiabilities
-8838000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
181382000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
242287000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
9409000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
25176000 USD
frt Capital Expenditures Development Redevelopment
CapitalExpendituresDevelopmentRedevelopment
213181000 USD
frt Capital Expenditures Development Redevelopment
CapitalExpendituresDevelopmentRedevelopment
133570000 USD
frt Capital Expenditures Other
CapitalExpendituresOther
30388000 USD
frt Capital Expenditures Other
CapitalExpendituresOther
36669000 USD
frt Costsassociatedwithleasebuyoutforapropertysold
Costsassociatedwithleasebuyoutforapropertysold
12924000 USD
frt Costsassociatedwithleasebuyoutforapropertysold
Costsassociatedwithleasebuyoutforapropertysold
0 USD
us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
17015000 USD
us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
93025000 USD
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
917000 USD
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
907000 USD
us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
849000 USD
us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
1301000 USD
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
7923000 USD
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
11473000 USD
frt Issuance And Repayments Of Mortgage And Other Notes Receivable Net
IssuanceAndRepaymentsOfMortgageAndOtherNotesReceivableNet
320000 USD
frt Issuance And Repayments Of Mortgage And Other Notes Receivable Net
IssuanceAndRepaymentsOfMortgageAndOtherNotesReceivableNet
-101000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-257198000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-113368000 USD
frt Coststoamendlineofcreditfacility
Coststoamendlineofcreditfacility
638000 USD
frt Coststoamendlineofcreditfacility
Coststoamendlineofcreditfacility
0 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
700085000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
297076000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
398732000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
3264000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
298100000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
97000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
68461000 USD
frt Dividends Paid To Common And Preferred Shareholders
DividendsPaidToCommonAndPreferredShareholders
161874000 USD
frt Dividends Paid To Common And Preferred Shareholders
DividendsPaidToCommonAndPreferredShareholders
154965000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3997000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4442000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
161000 USD
frt Paymentsofdividendsandredemptionsminorityinterest
Paymentsofdividendsandredemptionsminorityinterest
5702000 USD
frt Paymentsofdividendsandredemptionsminorityinterest
Paymentsofdividendsandredemptionsminorityinterest
5173000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
923439000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-96982000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
847623000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
31937000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
153614000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
108332000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1001237000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
140269000 USD
us-gaap Nature Of Operations
NatureOfOperations
BUSINESS AND ORGANIZATION<div style="line-height:120%;padding-top:6px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Federal Realty Investment Trust (the “Trust”) is an equity real estate investment trust (“REIT”) specializing in the ownership, management, and redevelopment of retail and mixed-use properties. Our properties are located primarily in densely populated and affluent communities in strategically selected metropolitan markets in the Mid-Atlantic and Northeast regions of the United States, California, and South Florida. As of </span><span style="font-family:inherit;font-size:10pt;">June 30, 2020</span><span style="font-family:inherit;font-size:10pt;">, we owned or had a majority interest in community and neighborhood shopping centers and mixed-use properties which are operated as </span><span style="font-family:inherit;font-size:10pt;"><span>104</span></span><span style="font-family:inherit;font-size:10pt;"> predominantly retail real estate projects.</span></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We operate in a manner intended to enable us to qualify as a REIT for federal income tax purposes. A REIT that distributes at least </span><span style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"><span>90%</span></span><span style="font-family:inherit;font-size:10pt;"> of its taxable income to its shareholders each year and meets certain other conditions is not taxed on that portion of its taxable income which is distributed to its shareholders. Therefore, federal income taxes on our taxable income have been and are generally expected to be immaterial. We are obligated to pay state taxes, generally consisting of franchise or gross receipts taxes in certain states. Such state taxes also have not been material.</span></div><div style="line-height:120%;padding-top:12px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Impacts of COVID-19 Pandemic</span></div>In March 2020, the World Health Organization declared the outbreak of novel coronavirus disease (“COVID-19”) as a pandemic. While we currently expect the impact to our properties is temporary in nature, the extent of the future effects of COVID-19 on our business, results of operations, cash flows, and growth prospects is highly uncertain and will ultimately depend on future developments, none of which can be predicted with any certainty.
CY2020Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
104 project
frt Minimum Percentage Of Taxable Income Distributed To Shareholders
MinimumPercentageOfTaxableIncomeDistributedToShareholders
0.90
us-gaap Use Of Estimates
UseOfEstimates
<div style="line-height:120%;padding-top:6px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</span></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, referred to as “GAAP,” requires management to make estimates and assumptions that in certain circumstances affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenues and expenses. These estimates are prepared using management’s best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates.</span></div>
CY2020Q2 frt Collectibilityadjustment
Collectibilityadjustment
55200000 USD
CY2020Q2 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
9400000 USD
CY2020Q2 frt Tenantswithrevenuerecognizedonacashbasismethod
Tenantswithrevenuerecognizedonacashbasismethod
0.32
CY2020Q2 frt Straightlinerentreceivable
Straightlinerentreceivable
100700000 USD
CY2019Q4 frt Straightlinerentreceivable
Straightlinerentreceivable
100300000 USD
us-gaap Interest Costs Incurred
InterestCostsIncurred
73942000 USD
us-gaap Interest Costs Incurred
InterestCostsIncurred
64755000 USD
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
11424000 USD
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
9240000 USD
us-gaap Interest Expense
InterestExpense
62518000 USD
us-gaap Interest Expense
InterestExpense
55515000 USD
us-gaap Interest Paid Net
InterestPaidNet
52715000 USD
us-gaap Interest Paid Net
InterestPaidNet
53588000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
428000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
419000 USD
frt Valueofdown Reit Operating Partnership Units Issued With Acq.Of Noncontrolling Interest
ValueofdownREITOperatingPartnershipUnitsIssuedWithAcq.ofNoncontrollingInterest
18920000 USD
frt Valueofdown Reit Operating Partnership Units Issued With Acq.Of Noncontrolling Interest
ValueofdownREITOperatingPartnershipUnitsIssuedWithAcq.ofNoncontrollingInterest
0 USD
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
8903000 USD
us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
0 USD
frt Redemptionofoperatingpartnershipunitsforcommonshares
Redemptionofoperatingpartnershipunitsforcommonshares
0 USD
frt Redemptionofoperatingpartnershipunitsforcommonshares
Redemptionofoperatingpartnershipunitsforcommonshares
11935000 USD
frt Dividends Reinvested In Noncash Financing Transaction
DividendsReinvestedInNoncashFinancingTransaction
860000 USD
frt Dividends Reinvested In Noncash Financing Transaction
DividendsReinvestedInNoncashFinancingTransaction
897000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
980039000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
127432000 USD
CY2020Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
21198000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
26182000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1001237000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
153614000 USD
CY2020Q2 us-gaap Line Of Credit Facility Maximum Amount Outstanding During Period
LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod
990000000.0 USD
CY2020Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1000000000.0 USD
CY2020Q2 us-gaap Line Of Credit Facility Maximum Amount Outstanding During Period
LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod
990000000.0 USD
CY2020Q2 frt Lineofcreditfacilityweightedaverageinterestratebeforeamortizationofdebt Fees
LineofcreditfacilityweightedaverageinterestratebeforeamortizationofdebtFees
0.014
frt Lineofcreditfacilityweightedaverageinterestratebeforeamortizationofdebt Fees
LineofcreditfacilityweightedaverageinterestratebeforeamortizationofdebtFees
0.015
CY2020Q2 us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
413200000 USD
us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
278500000 USD
CY2020Q2 us-gaap Line Of Credit
LineOfCredit
0 USD
us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
-200000 USD
CY2020Q2 us-gaap Partners Capital Account Units
PartnersCapitalAccountUnits
744617 shares
CY2020Q2 frt Operating Partnership Units Fair Value
OperatingPartnershipUnitsFairValue
63400000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6992000 USD
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.100
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
2.100
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.040
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
2.040
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3087000 USD
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3131000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7029000 USD
CY2020Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
310000 USD
CY2019Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
201000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
642000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
472000 USD
CY2020Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2777000 USD
CY2019Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2930000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6387000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6520000 USD
CY2020Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
321000 USD
CY2019Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
321000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
642000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
642000 USD
CY2020Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1457000 USD
CY2019Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1455000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
2913000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
2911000 USD
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1552000 USD
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1493000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
3111000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
2997000 USD
CY2020Q2 us-gaap Variable Lease Cost
VariableLeaseCost
70000 USD
CY2019Q2 us-gaap Variable Lease Cost
VariableLeaseCost
129000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
157000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
220000 USD
CY2020Q2 us-gaap Lease Cost
LeaseCost
3400000 USD
CY2019Q2 us-gaap Lease Cost
LeaseCost
3398000 USD
us-gaap Lease Cost
LeaseCost
6823000 USD
us-gaap Lease Cost
LeaseCost
6770000 USD
CY2020Q2 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
1439000 USD
CY2019Q2 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
1433000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
2872000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
2893000 USD
CY2020Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
1261000 USD
CY2019Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
1268000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
2811000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
2779000 USD
CY2020Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
11000 USD
CY2019Q2 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
16000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
22000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
41000 USD
CY2020Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P17Y8M12D
CY2019Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P18Y7M6D
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P53Y2M12D
CY2019Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P53Y8M12D
CY2020Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.080
CY2019Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.080
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.044
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045
CY2020Q2 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
200000 shares
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
682 shares
CY2020Q2 us-gaap Profit Loss
ProfitLoss
10859000 USD
CY2019Q2 us-gaap Profit Loss
ProfitLoss
82667000 USD
us-gaap Profit Loss
ProfitLoss
67300000 USD
us-gaap Profit Loss
ProfitLoss
144470000 USD
CY2020Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2011000 USD
CY2019Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2011000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
4021000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
4021000 USD
CY2020Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
352000 USD
CY2019Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1765000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2030000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3424000 USD
CY2020Q2 frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
249000 USD
CY2019Q2 frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
226000 USD
frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
495000 USD
frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
439000 USD
CY2020Q2 frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
8247000 USD
CY2019Q2 frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
78665000 USD
frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
60754000 USD
frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
136586000 USD
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
75394000 shares
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
74713000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
75377000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
74458000 shares
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.11
CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
1.05
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.81
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
1.83

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