2022 Q1 Form 10-Q Financial Statement

#000003490322000043 Filed on May 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $256.8M $218.2M
YoY Change 17.7% -5.79%
Cost Of Revenue $86.77M $78.70M
YoY Change 10.26% 7.22%
Gross Profit $170.0M $139.5M
YoY Change 21.86% -11.82%
Gross Profit Margin 66.21% 63.94%
Selling, General & Admin $12.34M $10.30M
YoY Change 19.83% 0.0%
% of Gross Profit 7.26% 7.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $71.67M $63.90M
YoY Change 12.17% 2.73%
% of Gross Profit 42.16% 45.81%
Operating Expenses $170.8M $152.8M
YoY Change 11.78% 4.78%
Operating Profit $85.98M $82.80M
YoY Change 3.85% -3.43%
Interest Expense $31.57M $32.09M
YoY Change -1.6% 12.8%
% of Operating Profit 36.72% 38.75%
Other Income/Expense, Net
YoY Change
Pretax Income $54.73M $49.70M
YoY Change 10.12% -11.88%
Income Tax
% Of Pretax Income
Net Earnings $51.98M $48.24M
YoY Change 7.77% -11.92%
Net Earnings / Revenue 20.25% 22.11%
Basic Earnings Per Share $0.63 $0.60
Diluted Earnings Per Share $0.63 $0.60
COMMON SHARES
Basic Shares Outstanding 78.45M shares 76.84M shares
Diluted Shares Outstanding 78.54M shares 76.84M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $157.9M $779.9M
YoY Change -79.75% -21.59%
Cash & Equivalents $157.9M $779.9M
Short-Term Investments
Other Short-Term Assets $225.3M $198.9M
YoY Change 13.29% 3.59%
Inventory
Prepaid Expenses
Receivables $183.5M $161.2M
Other Receivables $9.519M $39.90M
Total Short-Term Assets $576.3M $1.180B
YoY Change -51.16% -13.89%
LONG-TERM ASSETS
Property, Plant & Equipment $7.059B $6.449B
YoY Change 9.45% 1.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $13.18M $12.10M
YoY Change 8.95% -53.46%
Other Assets $20.25M $28.50M
YoY Change -28.96% -6.56%
Total Long-Term Assets $7.092B $6.490B
YoY Change 9.28% 1.57%
TOTAL ASSETS
Total Short-Term Assets $576.3M $1.180B
Total Long-Term Assets $7.092B $6.490B
Total Assets $7.668B $7.670B
YoY Change -0.02% -1.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $233.8M $254.5M
YoY Change -8.14% 3.46%
Accrued Expenses $72.32M $63.00M
YoY Change 14.79% -14.98%
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 $423.2M
YoY Change -1.04% -0.17%
LONG-TERM LIABILITIES
Long-Term Debt $4.119B $4.347B
YoY Change -5.24% -1.8%
Other Long-Term Liabilities $201.7M $156.2M
YoY Change 29.12% 3.86%
Total Long-Term Liabilities $4.321B $4.503B
YoY Change -4.05% -1.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $418.8M $423.2M
Total Long-Term Liabilities $4.321B $4.503B
Total Liabilities $4.740B $4.926B
YoY Change -3.79% -1.49%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.573B $3.388B
YoY Change 5.48% 6.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.634B $2.521B
YoY Change
Total Liabilities & Shareholders Equity $7.668B $7.670B
YoY Change -0.02% -1.16%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $51.98M $48.24M
YoY Change 7.77% -11.92%
Depreciation, Depletion And Amortization $71.67M $63.90M
YoY Change 12.17% 2.73%
Cash From Operating Activities $103.1M $115.1M
YoY Change -10.46% -3.07%
INVESTING ACTIVITIES
Capital Expenditures -$85.02M -$89.40M
YoY Change -4.9% -30.97%
Acquisitions
YoY Change
Other Investing Activities -$3.175M $14.60M
YoY Change -121.75% -165.18%
Cash From Investing Activities -$88.19M -$74.84M
YoY Change 17.84% -50.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $82.82M $87.33M
YoY Change -5.16% 459526.32%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$11.85M -$48.72M
YoY Change -75.68% -105.42%
NET CHANGE
Cash From Operating Activities $103.1M $115.1M
Cash From Investing Activities -$88.19M -$74.84M
Cash From Financing Activities -$11.85M -$48.72M
Net Change In Cash $3.026M -$8.454M
YoY Change -135.79% -100.98%
FREE CASH FLOW
Cash From Operating Activities $103.1M $115.1M
Capital Expenditures -$85.02M -$89.40M
Free Cash Flow $188.1M $204.5M
YoY Change -8.03% -17.62%

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DividendsPreferredStockCash
2010000 USD
CY2021Q1 frt Redeemable Noncontrolling Interest Decrease From Distributions To Redeemable Noncontrolling Interest Holders
RedeemableNoncontrollingInterestDecreaseFromDistributionsToRedeemableNoncontrollingInterestHolders
696000 USD
CY2021Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
784000 USD
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
87214000 USD
CY2021Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
545000 USD
CY2021Q1 frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
4149000 USD
CY2021Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
2805000 USD
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2604960000 USD
CY2022Q1 us-gaap Profit Loss
ProfitLoss
54728000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
49739000 USD
CY2022Q1 frt Adjustment Depreciation And Amortization
AdjustmentDepreciationAndAmortization
71674000 USD
CY2021Q1 frt Adjustment Depreciation And Amortization
AdjustmentDepreciationAndAmortization
63874000 USD
CY2022Q1 frt Gain On Sale Of Real Estate And Change In Control Of Interest
GainOnSaleOfRealEstateAndChangeInControlOfInterest
0 USD
CY2021Q1 frt Gain On Sale Of Real Estate And Change In Control Of Interest
GainOnSaleOfRealEstateAndChangeInControlOfInterest
17428000 USD
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
197000 USD
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1338000 USD
CY2022Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
1636000 USD
CY2021Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1245000 USD
CY2022Q1 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
11257000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-883000 USD
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4577000 USD
CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-3169000 USD
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-5419000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
7987000 USD
CY2022Q1 frt Increase Decrease In Security Deposits And Other Liabilities
IncreaseDecreaseInSecurityDepositsAndOtherLiabilities
-247000 USD
CY2021Q1 frt Increase Decrease In Security Deposits And Other Liabilities
IncreaseDecreaseInSecurityDepositsAndOtherLiabilities
4299000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
103069000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
115106000 USD
CY2022Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
0 USD
CY2021Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
5694000 USD
CY2022Q1 frt Capital Expenditures Development Redevelopment
CapitalExpendituresDevelopmentRedevelopment
66610000 USD
CY2021Q1 frt Capital Expenditures Development Redevelopment
CapitalExpendituresDevelopmentRedevelopment
68527000 USD
CY2022Q1 frt Capital Expenditures Other
CapitalExpendituresOther
18409000 USD
CY2021Q1 frt Capital Expenditures Other
CapitalExpendituresOther
15189000 USD
CY2022Q1 us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
874000 USD
CY2021Q1 us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
19896000 USD
CY2022Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
0 USD
CY2021Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
2657000 USD
CY2022Q1 us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
517000 USD
CY2021Q1 us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
285000 USD
CY2022Q1 us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
4577000 USD
CY2021Q1 us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
2955000 USD
CY2022Q1 frt Issuance And Repayments Of Mortgage And Other Notes Receivable Net
IssuanceAndRepaymentsOfMortgageAndOtherNotesReceivableNet
-11000 USD
CY2021Q1 frt Issuance And Repayments Of Mortgage And Other Notes Receivable Net
IssuanceAndRepaymentsOfMortgageAndOtherNotesReceivableNet
0 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-88194000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-74841000 USD
CY2022Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
869000 USD
CY2021Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
48845000 USD
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
82819000 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
87329000 USD
CY2022Q1 frt Dividends Paid To Common And Preferred Shareholders
DividendsPaidToCommonAndPreferredShareholders
85684000 USD
CY2021Q1 frt Dividends Paid To Common And Preferred Shareholders
DividendsPaidToCommonAndPreferredShareholders
82913000 USD
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4601000 USD
CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2805000 USD
CY2022Q1 frt Paymentsofdividendsandredemptionsminorityinterest
Paymentsofdividendsandredemptionsminorityinterest
3514000 USD
CY2021Q1 frt Paymentsofdividendsandredemptionsminorityinterest
Paymentsofdividendsandredemptionsminorityinterest
1485000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-11849000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-48719000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3026000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8454000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
175163000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
816896000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
178189000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
808442000 USD
CY2022Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
256507000 USD
CY2021Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
217135000 USD
CY2022Q1 frt Revenue Mortgage Interest
RevenueMortgageInterest
264000 USD
CY2021Q1 frt Revenue Mortgage Interest
RevenueMortgageInterest
1026000 USD
CY2022Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
56211000 USD
CY2021Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
49238000 USD
CY2022Q1 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
30560000 USD
CY2021Q1 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
29420000 USD
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
12342000 USD
CY2021Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10258000 USD
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
71674000 USD
CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
63874000 USD
CY2022Q1 frt Gain On Sale Of Real Estate And Change In Control Of Interest
GainOnSaleOfRealEstateAndChangeInControlOfInterest
0 USD
CY2021Q1 frt Gain On Sale Of Real Estate And Change In Control Of Interest
GainOnSaleOfRealEstateAndChangeInControlOfInterest
17428000 USD
CY2022Q1 us-gaap Interest Income Other
InterestIncomeOther
120000 USD
CY2021Q1 us-gaap Interest Income Other
InterestIncomeOther
363000 USD
CY2022Q1 us-gaap Interest Expense
InterestExpense
31573000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
32085000 USD
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
197000 USD
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1338000 USD
CY2022Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2744000 USD
CY2021Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1503000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78446000 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76842000 shares
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.63
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.60
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78543000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76842000 shares
CY2022Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
58644000 USD
CY2021Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
53433000 USD
CY2022Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
55556000 USD
CY2021Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
51580000 USD
CY2022Q1 us-gaap Profit Loss
ProfitLoss
54728000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
49739000 USD
CY2022Q1 frt Adjustment Depreciation And Amortization
AdjustmentDepreciationAndAmortization
71674000 USD
CY2021Q1 frt Adjustment Depreciation And Amortization
AdjustmentDepreciationAndAmortization
63874000 USD
CY2022Q1 frt Gain On Sale Of Real Estate And Change In Control Of Interest
GainOnSaleOfRealEstateAndChangeInControlOfInterest
0 USD
CY2021Q1 frt Gain On Sale Of Real Estate And Change In Control Of Interest
GainOnSaleOfRealEstateAndChangeInControlOfInterest
17428000 USD
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
197000 USD
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1338000 USD
CY2022Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
1636000 USD
CY2021Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1245000 USD
CY2022Q1 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
11257000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-883000 USD
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4577000 USD
CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-3169000 USD
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-5419000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
7987000 USD
CY2022Q1 frt Increase Decrease In Security Deposits And Other Liabilities
IncreaseDecreaseInSecurityDepositsAndOtherLiabilities
-247000 USD
CY2021Q1 frt Increase Decrease In Security Deposits And Other Liabilities
IncreaseDecreaseInSecurityDepositsAndOtherLiabilities
4299000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
103069000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
115106000 USD
CY2022Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
0 USD
CY2021Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
5694000 USD
CY2022Q1 frt Capital Expenditures Development Redevelopment
CapitalExpendituresDevelopmentRedevelopment
66610000 USD
CY2021Q1 frt Capital Expenditures Development Redevelopment
CapitalExpendituresDevelopmentRedevelopment
68527000 USD
CY2022Q1 frt Capital Expenditures Other
CapitalExpendituresOther
18409000 USD
CY2021Q1 frt Capital Expenditures Other
CapitalExpendituresOther
15189000 USD
CY2022Q1 us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
874000 USD
CY2021Q1 us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
19896000 USD
CY2022Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
0 USD
CY2021Q1 us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
2657000 USD
CY2022Q1 us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
517000 USD
CY2021Q1 us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
285000 USD
CY2022Q1 us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
4577000 USD
CY2021Q1 us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
2955000 USD
CY2022Q1 frt Issuance And Repayments Of Mortgage And Other Notes Receivable Net
IssuanceAndRepaymentsOfMortgageAndOtherNotesReceivableNet
-11000 USD
CY2021Q1 frt Issuance And Repayments Of Mortgage And Other Notes Receivable Net
IssuanceAndRepaymentsOfMortgageAndOtherNotesReceivableNet
0 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-88194000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-74841000 USD
CY2022Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
869000 USD
CY2021Q1 us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
48845000 USD
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
82819000 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
87329000 USD
CY2022Q1 frt Dividends Paid To Common And Preferred Shareholders
DividendsPaidToCommonAndPreferredShareholders
85684000 USD
CY2021Q1 frt Dividends Paid To Common And Preferred Shareholders
DividendsPaidToCommonAndPreferredShareholders
82913000 USD
CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4601000 USD
CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2805000 USD
CY2022Q1 frt Paymentsofdividendsandredemptionsminorityinterest
Paymentsofdividendsandredemptionsminorityinterest
3514000 USD
CY2021Q1 frt Paymentsofdividendsandredemptionsminorityinterest
Paymentsofdividendsandredemptionsminorityinterest
1485000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-11849000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-48719000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3026000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8454000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
175163000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
816896000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
178189000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
808442000 USD
CY2022Q1 us-gaap Nature Of Operations
NatureOfOperations
BUSINESS AND ORGANIZATION<div style="margin-top:5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Federal Realty Investment Trust (the "Parent Company" and the “Trust”) is an equity real estate investment trust (“REIT”). Federal Realty OP LP (the "Operating Partnership") is the entity through which the Parent Company conducts substantially all of its operations and owns all of its assets. The Parent Company owns 100% of the limited liability company interests of, is sole member of and exercises exclusive control over Federal Realty GP LLC ("the General Partner"), which in turn, is the sole general partner of the Operating Partnership. The Parent Company specializes in the ownership, management, and redevelopment of retail and mixed-use properties through the Operating Partnership, and has no other substantial assets or liabilities other than through its investment in the Operating Partnership. Our properties are located primarily in communities where we believe retail demand exceeds supply, in strategically selected metropolitan markets in the Mid-Atlantic and Northeast regions of the United States, California, and South Florida. As of March 31, 2022, we owned or had a majority interest in community and neighborhood shopping centers and mixed-use properties which are operated as 104 predominantly retail real estate projects.</span></div><div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We operate in a manner intended to enable the Trust to qualify as a REIT for federal income tax purposes. A REIT that distributes at least 90% 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>
CY2022Q1 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
104 project
CY2022Q1 frt Minimum Percentage Of Taxable Income Distributed To Shareholders
MinimumPercentageOfTaxableIncomeDistributedToShareholders
0.90
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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>
CY2021Q1 frt Collectibilityadjustment
Collectibilityadjustment
14800000 USD
CY2022Q1 frt Tenantswithrevenuerecognizedonacashbasismethod
Tenantswithrevenuerecognizedonacashbasismethod
0.33
CY2022Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
36188000 USD
CY2021Q1 us-gaap Interest Costs Incurred
InterestCostsIncurred
38626000 USD
CY2022Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
4615000 USD
CY2021Q1 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
6541000 USD
CY2022Q1 us-gaap Interest Expense
InterestExpense
31573000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
32085000 USD
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
30436000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
29973000 USD
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
4000 USD
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 USD
CY2022Q1 frt Redemptionofdown Rei Toperatingpartnershipunitsforcommonshares
RedemptionofdownREIToperatingpartnershipunitsforcommonshares
977000 USD
CY2021Q1 frt Redemptionofdown Rei Toperatingpartnershipunitsforcommonshares
RedemptionofdownREIToperatingpartnershipunitsforcommonshares
519000 USD
CY2022Q1 frt Dividends Reinvested In Noncash Financing Transaction
DividendsReinvestedInNoncashFinancingTransaction
432000 USD
CY2021Q1 frt Dividends Reinvested In Noncash Financing Transaction
DividendsReinvestedInNoncashFinancingTransaction
430000 USD
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
157944000 USD
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
162132000 USD
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
20245000 USD
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
13031000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
178189000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
175163000 USD
CY2022Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
200000 USD
CY2022Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.070
CY2022Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.070
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.060
CY2021Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.060
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4179000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4149000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
359000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
398000 USD
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3820000 USD
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3751000 USD
CY2022Q1 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
300000 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
300000 shares
CY2022Q1 us-gaap Profit Loss
ProfitLoss
54728000 USD
CY2021Q1 us-gaap Profit Loss
ProfitLoss
49739000 USD
CY2022Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2010000 USD
CY2021Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2010000 USD
CY2022Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2744000 USD
CY2021Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1503000 USD
CY2022Q1 frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
307000 USD
CY2021Q1 frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
294000 USD
CY2022Q1 frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
49667000 USD
CY2021Q1 frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
45932000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78446000 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76842000 shares
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
97000 shares
CY2021Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78543000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76842000 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.63
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.60

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