2020 Q4 Form 10-Q Financial Statement

#000003490320000041 Filed on November 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $219.5M $208.2M $233.9M
YoY Change -8.22% -11.01% 1.83%
Cost Of Revenue $77.40M $72.40M $83.50M
YoY Change 0.91% -13.29% 17.61%
Gross Profit $142.1M $135.8M $150.4M
YoY Change -12.55% -9.71% -5.29%
Gross Profit Margin 64.74% 65.23% 64.29%
Selling, General & Admin $12.30M $9.300M $11.10M
YoY Change 14.95% -16.22% 46.05%
% of Gross Profit 8.66% 6.85% 7.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $64.40M $65.60M $59.60M
YoY Change 4.72% 10.07% -1.97%
% of Gross Profit 45.32% 48.31% 39.63%
Operating Expenses $76.80M $147.3M $154.2M
YoY Change 6.52% -4.49% 10.62%
Operating Profit $65.30M $3.688M $94.02M
YoY Change -62.94% -96.08% 0.59%
Interest Expense -$38.40M $36.23M $27.05M
YoY Change 40.66% 33.92% -3.96%
% of Operating Profit -58.81% 982.32% 28.77%
Other Income/Expense, Net
YoY Change
Pretax Income $102.2M -$33.60M $67.10M
YoY Change -31.41% -150.07% 4.52%
Income Tax
% Of Pretax Income
Net Earnings $94.70M -$28.29M $65.47M
YoY Change -35.73% -143.21% 4.65%
Net Earnings / Revenue 43.14% -13.59% 27.98%
Basic Earnings Per Share -$0.41 $0.84
Diluted Earnings Per Share $1.248M -$0.41 $0.84
COMMON SHARES
Basic Shares Outstanding 75.65M shares 75.40M shares 74.83M shares
Diluted Shares Outstanding 75.40M shares 74.83M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $798.3M $863.3M $162.5M
YoY Change 526.61% 431.26% 287.83%
Cash & Equivalents $798.3M $863.3M $162.5M
Short-Term Investments
Other Short-Term Assets $200.4M $203.9M $195.1M
YoY Change -0.25% 4.51% -33.21%
Inventory
Prepaid Expenses
Receivables $159.8M $164.9M $143.9M
Other Receivables $39.90M $39.90M $30.40M
Total Short-Term Assets $1.198B $1.272B $531.9M
YoY Change 134.38% 139.14% 3.12%
LONG-TERM ASSETS
Property, Plant & Equipment $6.369B $6.392B $5.951B
YoY Change 2.27% 7.4% 4.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $22.10M $22.10M $30.00M
YoY Change -22.73% -26.33% 8.7%
Other Assets $18.60M $25.20M $94.20M
YoY Change -33.33% -73.25% 328.18%
Total Long-Term Assets $6.409B $6.439B $6.076B
YoY Change 2.0% 5.98% 5.3%
TOTAL ASSETS
Total Short-Term Assets $1.198B $1.272B $531.9M
Total Long-Term Assets $6.409B $6.439B $6.076B
Total Assets $7.608B $7.711B $6.608B
YoY Change 11.96% 16.7% 5.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $228.6M $276.4M $221.8M
YoY Change -10.53% 24.62% 20.09%
Accrued Expenses $72.40M $72.90M $74.00M
YoY Change -1.63% -1.49%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $405.2M $451.7M $397.6M
YoY Change -6.31% 13.61% 41.9%
LONG-TERM LIABILITIES
Long-Term Debt $4.363B $4.533B $3.349B
YoY Change 27.26% 35.35% 2.84%
Other Long-Term Liabilities $152.4M $148.9M $165.5M
YoY Change -3.48% -10.03% -4.89%
Total Long-Term Liabilities $4.516B $4.682B $3.515B
YoY Change 25.91% 33.21% 2.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $405.2M $451.7M $397.6M
Total Long-Term Liabilities $4.516B $4.682B $3.515B
Total Liabilities $4.921B $5.133B $3.912B
YoY Change 22.44% 31.22% 5.43%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.298B $3.175B $3.168B
YoY Change 4.13% 0.21% 7.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.464B $2.328B $2.470B
YoY Change
Total Liabilities & Shareholders Equity $7.608B $7.711B $6.608B
YoY Change 11.96% 16.7% 5.12%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $94.70M -$28.29M $65.47M
YoY Change -35.73% -143.21% 4.65%
Depreciation, Depletion And Amortization $64.40M $65.60M $59.60M
YoY Change 4.72% 10.07% -1.97%
Cash From Operating Activities $101.5M $87.00M $102.0M
YoY Change -13.69% -14.71% 0.39%
INVESTING ACTIVITIES
Capital Expenditures -$152.7M -$105.8M -$129.8M
YoY Change -47.2% -18.49% 53.97%
Acquisitions
YoY Change
Other Investing Activities $157.9M -$10.60M $16.00M
YoY Change -21.01% -166.25% -68.75%
Cash From Investing Activities $5.200M -$116.4M -$113.9M
YoY Change -105.83% 2.19% 244.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -178.3M -83.40M 78.50M
YoY Change 118.5% -206.24% -195.04%
NET CHANGE
Cash From Operating Activities 101.5M 87.00M 102.0M
Cash From Investing Activities 5.200M -116.4M -113.9M
Cash From Financing Activities -178.3M -83.40M 78.50M
Net Change In Cash -71.60M -112.8M 66.60M
YoY Change 34.59% -269.37% -572.34%
FREE CASH FLOW
Cash From Operating Activities $101.5M $87.00M $102.0M
Capital Expenditures -$152.7M -$105.8M -$129.8M
Free Cash Flow $254.2M $192.8M $231.8M
YoY Change -37.51% -16.82% 24.69%

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-33623000 USD
CY2019Q3 us-gaap Profit Loss
ProfitLoss
67106000 USD
us-gaap Profit Loss
ProfitLoss
33677000 USD
us-gaap Profit Loss
ProfitLoss
211576000 USD
CY2020Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-5334000 USD
CY2019Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1641000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-3304000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
5065000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-28289000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
65465000 USD
us-gaap Net Income Loss
NetIncomeLoss
36981000 USD
us-gaap Net Income Loss
NetIncomeLoss
206511000 USD
CY2020Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2010000 USD
CY2019Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2010000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6031000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6031000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-30299000 USD
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.84
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
200480000 USD
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.41
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
63455000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
30950000 USD
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.40
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
2.68
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
75404000 shares
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
74832000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
75386000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
74584000 shares
CY2020Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-33165000 USD
CY2019Q3 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
66995000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
27190000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
210857000 USD
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-27831000 USD
CY2019Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
65354000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
30494000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
205792000 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
32050000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-6487000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
238980000 USD
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
6031000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
2465000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
5000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
1461000 USD
frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
10144000 USD
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
4035000 USD
frt Conversion And Redemption Of Operating Partnership Units
ConversionAndRedemptionOfOperatingPartnershipUnits
3320000 USD
frt Contributionsfromnoncontrollinginterests
Contributionsfromnoncontrollinginterests
120000 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2418084000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2531101000 USD
CY2020Q3 frt Profit Loss Excluding Redeemable Noncontrolling Interests
ProfitLossExcludingRedeemableNoncontrollingInterests
-34093000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
458000 USD
CY2020Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
80170000 USD
CY2020Q3 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
2010000 USD
CY2020Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
788000 USD
CY2020Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3000 USD
CY2020Q3 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
506000 USD
CY2020Q3 frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
3115000 USD
CY2020Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
38000 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2418084000 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
208972000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-719000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
231657000 USD
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
6031000 USD
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
8812000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
139499000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
1567000 USD
frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
10143000 USD
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
4615000 USD
frt Conversion And Redemption Of Operating Partnership Units
ConversionAndRedemptionOfOperatingPartnershipUnits
72000 USD
frt Contributionsfromnoncontrollinginterests
Contributionsfromnoncontrollinginterests
111000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
-4503000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2573121000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2510646000 USD
CY2019Q3 frt Profit Loss Excluding Redeemable Noncontrolling Interests
ProfitLossExcludingRedeemableNoncontrollingInterests
66285000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-111000 USD
CY2019Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
79102000 USD
CY2019Q3 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
2010000 USD
CY2019Q3 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
1148000 USD
CY2019Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
71195000 USD
CY2019Q3 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
513000 USD
CY2019Q3 frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
3151000 USD
CY2019Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
173000 USD
CY2019Q3 frt Conversion And Redemption Of Operating Partnership Units
ConversionAndRedemptionOfOperatingPartnershipUnits
72000 USD
CY2019Q3 frt Contributionsfromnoncontrollinginterests
Contributionsfromnoncontrollinginterests
111000 USD
CY2019Q3 us-gaap Stockholders Equity Other
StockholdersEquityOther
-3836000 USD
CY2019Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2573121000 USD
us-gaap Profit Loss
ProfitLoss
33677000 USD
us-gaap Profit Loss
ProfitLoss
211576000 USD
frt Adjustment Depreciation And Amortization
AdjustmentDepreciationAndAmortization
190603000 USD
frt Adjustment Depreciation And Amortization
AdjustmentDepreciationAndAmortization
178327000 USD
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
57218000 USD
us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
0 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
11682000 USD
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
30490000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-6657000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1302000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-5158000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
457000 USD
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
11537000 USD
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
8867000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
7672000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
12836000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
14708000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
6262000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
268422000 USD
frt Increase Decrease In Security Deposits And Other Liabilities
IncreaseDecreaseInSecurityDepositsAndOtherLiabilities
-8708000 USD
frt Increase Decrease In Security Deposits And Other Liabilities
IncreaseDecreaseInSecurityDepositsAndOtherLiabilities
-511000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
344306000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
9589000 USD
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
45122000 USD
frt Capital Expenditures Development Redevelopment
CapitalExpendituresDevelopmentRedevelopment
302666000 USD
frt Capital Expenditures Development Redevelopment
CapitalExpendituresDevelopmentRedevelopment
226232000 USD
frt Capital Expenditures Other
CapitalExpendituresOther
46530000 USD
frt Capital Expenditures Other
CapitalExpendituresOther
53890000 USD
frt Costsassociatedwithleasebuyoutforapropertysold
Costsassociatedwithleasebuyoutforapropertysold
12924000 USD
frt Costsassociatedwithleasebuyoutforapropertysold
Costsassociatedwithleasebuyoutforapropertysold
0 USD
us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
18096000 USD
us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
115781000 USD
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
1607000 USD
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
980000 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
1798000 USD
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
8668000 USD
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
18751000 USD
frt Issuance And Repayments Of Mortgage And Other Notes Receivable Net
IssuanceAndRepaymentsOfMortgageAndOtherNotesReceivableNet
10533000 USD
frt Issuance And Repayments Of Mortgage And Other Notes Receivable Net
IssuanceAndRepaymentsOfMortgageAndOtherNotesReceivableNet
-130000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-373572000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-227266000 USD
frt Coststoamendlineofcreditfacility
Coststoamendlineofcreditfacility
638000 USD
frt Coststoamendlineofcreditfacility
Coststoamendlineofcreditfacility
4012000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
700069000 USD
us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
400106000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
398742000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
4846000 USD
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
299485000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
170000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
139729000 USD
frt Dividends Paid To Common And Preferred Shareholders
DividendsPaidToCommonAndPreferredShareholders
242853000 USD
frt Dividends Paid To Common And Preferred Shareholders
DividendsPaidToCommonAndPreferredShareholders
232985000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4035000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4615000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
272000 USD
frt Paymentsofdividendsandredemptionsminorityinterest
Paymentsofdividendsandredemptionsminorityinterest
6634000 USD
frt Paymentsofdividendsandredemptionsminorityinterest
Paymentsofdividendsandredemptionsminorityinterest
17466000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
839975000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-18456000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
734825000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
98584000 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
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
888439000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
206916000 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;">September 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.
CY2020Q3 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>
CY2020Q3 frt Collectibilityadjustment
Collectibilityadjustment
29400000 USD
frt Collectibilityadjustment
Collectibilityadjustment
87600000 USD
CY2020Q3 us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
1700000 USD
us-gaap Straight Line Rent Adjustments
StraightLineRentAdjustments
11200000 USD
CY2020Q3 frt Tenantswithrevenuerecognizedonacashbasismethod
Tenantswithrevenuerecognizedonacashbasismethod
0.34
CY2020Q3 frt Straightlinerentreceivable
Straightlinerentreceivable
102900000 USD
CY2019Q4 frt Straightlinerentreceivable
Straightlinerentreceivable
100300000 USD
us-gaap Interest Costs Incurred
InterestCostsIncurred
116015000 USD
us-gaap Interest Costs Incurred
InterestCostsIncurred
97074000 USD
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
17269000 USD
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
14507000 USD
us-gaap Interest Expense
InterestExpense
98746000 USD
us-gaap Interest Expense
InterestExpense
82567000 USD
us-gaap Interest Paid Net
InterestPaidNet
89447000 USD
us-gaap Interest Paid Net
InterestPaidNet
82118000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
430000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
450000 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
16951000 USD
frt Redemptionofoperatingpartnershipunitsforcommonshares
Redemptionofoperatingpartnershipunitsforcommonshares
0 USD
frt Redemptionofoperatingpartnershipunitsforcommonshares
Redemptionofoperatingpartnershipunitsforcommonshares
11935000 USD
frt Dividends Reinvested In Noncash Financing Transaction
DividendsReinvestedInNoncashFinancingTransaction
1296000 USD
frt Dividends Reinvested In Noncash Financing Transaction
DividendsReinvestedInNoncashFinancingTransaction
1337000 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
863279000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
127432000 USD
CY2020Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
25160000 USD
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
26182000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
888439000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
153614000 USD
us-gaap Line Of Credit Facility Maximum Amount Outstanding During Period
LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod
990000000.0 USD
CY2020Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
1000000000.0 USD
CY2020Q3 us-gaap Line Of Credit Facility Maximum Amount Outstanding During Period
LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod
0 USD
us-gaap Line Of Credit Facility Maximum Amount Outstanding During Period
LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod
990000000.0 USD
frt Lineofcreditfacilityweightedaverageinterestratebeforeamortizationofdebt Fees
LineofcreditfacilityweightedaverageinterestratebeforeamortizationofdebtFees
0.015
us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
185000000.0 USD
CY2020Q3 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
-200000 USD
us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
-400000 USD
CY2020Q3 us-gaap Partners Capital Account Units
PartnersCapitalAccountUnits
744617 shares
CY2020Q3 frt Operating Partnership Units Fair Value
OperatingPartnershipUnitsFairValue
54700000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10143000 USD
CY2020Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
335000 USD
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
3.160
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
3.150
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
3.090
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
3.060
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3115000 USD
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3151000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10144000 USD
CY2019Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
274000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
977000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
746000 USD
CY2020Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2780000 USD
CY2019Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2877000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
9167000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
9397000 USD
CY2020Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
321000 USD
CY2019Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
321000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
963000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
963000 USD
CY2020Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1456000 USD
CY2019Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1455000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
4369000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
4366000 USD
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1443000 USD
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1524000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
4554000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
4521000 USD
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
89000 USD
CY2019Q3 us-gaap Variable Lease Cost
VariableLeaseCost
131000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
246000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
351000 USD
CY2020Q3 us-gaap Lease Cost
LeaseCost
3309000 USD
CY2019Q3 us-gaap Lease Cost
LeaseCost
3431000 USD
us-gaap Lease Cost
LeaseCost
10132000 USD
us-gaap Lease Cost
LeaseCost
10201000 USD
CY2020Q3 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
1432000 USD
CY2019Q3 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
1432000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
4304000 USD
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
4325000 USD
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
1421000 USD
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
1500000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
4232000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
4279000 USD
CY2020Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
11000 USD
CY2019Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
33000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
43000 USD
CY2020Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P17Y6M
CY2019Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P18Y4M24D
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P53Y4M24D
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P53Y8M12D
CY2020Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.080
CY2019Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.080
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.044
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045
CY2020Q3 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
200000 shares
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
682 shares
CY2020Q3 us-gaap Profit Loss
ProfitLoss
-33623000 USD
CY2019Q3 us-gaap Profit Loss
ProfitLoss
67106000 USD
us-gaap Profit Loss
ProfitLoss
33677000 USD
us-gaap Profit Loss
ProfitLoss
211576000 USD
CY2020Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2010000 USD
CY2019Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2010000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6031000 USD
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
6031000 USD
CY2020Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-5334000 USD
CY2019Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1641000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-3304000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
5065000 USD
CY2020Q3 frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
249000 USD
CY2019Q3 frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
232000 USD
frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
745000 USD
frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
671000 USD
CY2020Q3 frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
-30548000 USD
CY2019Q3 frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
63223000 USD
frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
30205000 USD
frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
199809000 USD
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
75404000 shares
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
74832000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
75386000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
74584000 shares
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.41
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.84
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.40
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
2.68

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