2022 Q3 Form 10-Q Financial Statement

#000003490322000056 Filed on August 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $273.5M $264.1M $254.2M
YoY Change 10.58% 14.02% 15.79%
Cost Of Revenue $91.61M $82.43M $86.87M
YoY Change 16.19% 14.11% 12.24%
Gross Profit $181.8M $181.7M $167.3M
YoY Change 7.96% 13.98% 17.72%
Gross Profit Margin 66.5% 68.79% 65.82%
Selling, General & Admin $13.10M $13.60M $14.50M
YoY Change 6.91% 5.9% 17.88%
% of Gross Profit 7.2% 7.49% 8.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $77.11M $74.46M $77.82M
YoY Change 9.2% 10.07% 20.83%
% of Gross Profit 42.41% 40.99% 46.52%
Operating Expenses $181.8M $170.5M $92.32M
YoY Change 12.44% 11.61% 20.2%
Operating Profit $191.7M $93.60M $74.97M
YoY Change 124.05% 18.69% 14.81%
Interest Expense $35.06M $32.07M -$30.75M
YoY Change 8.72% 2.88% -19.93%
% of Operating Profit 18.29% 34.27% -41.01%
Other Income/Expense, Net
YoY Change
Pretax Income $158.8M $64.47M $116.7M
YoY Change 191.11% 34.14% 14.23%
Income Tax
% Of Pretax Income
Net Earnings $156.1M $61.68M $114.9M
YoY Change 199.56% 33.49% 21.37%
Net Earnings / Revenue 57.1% 23.35% 45.22%
Basic Earnings Per Share $1.90 $0.75
Diluted Earnings Per Share $1.89 $0.75 $1.482M
COMMON SHARES
Basic Shares Outstanding 80.91M shares 79.20M shares 77.79M shares
Diluted Shares Outstanding 81.51M shares 79.20M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $146.2M $176.6M $162.1M
YoY Change -17.67% -41.97% -79.69%
Cash & Equivalents $146.2M $176.6M $162.1M
Short-Term Investments
Other Short-Term Assets $253.8M $208.6M $224.0M
YoY Change 9.38% -4.45% 11.8%
Inventory
Prepaid Expenses
Receivables $187.1M $187.4M $169.0M
Other Receivables $9.475M $9.499M $9.543M
Total Short-Term Assets $596.6M $582.0M $564.7M
YoY Change 3.05% -15.08% -52.88%
LONG-TERM ASSETS
Property, Plant & Equipment $7.485B $7.197B $7.032B
YoY Change 6.43% 3.27% 10.41%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $122.8M $13.52M $13.03M
YoY Change 916.82% 16.91% -41.05%
Other Assets $12.42M $18.00M $13.03M
YoY Change 20.44% 42.07% -29.94%
Total Long-Term Assets $7.620B $7.228B $7.058B
YoY Change 8.01% 3.36% 10.12%
TOTAL ASSETS
Total Short-Term Assets $596.6M $582.0M $564.7M
Total Long-Term Assets $7.620B $7.228B $7.058B
Total Assets $8.217B $7.810B $7.622B
YoY Change 7.63% 1.71% 0.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $245.6M $226.7M $235.2M
YoY Change 0.55% -10.44% 2.87%
Accrued Expenses $78.23M $71.83M $72.66M
YoY Change 6.28% -3.11% 0.36%
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 $442.0M $413.1M $419.7M
YoY Change 3.15% -5.14% 3.58%
LONG-TERM LIABILITIES
Long-Term Debt $4.365B $4.102B $4.120B
YoY Change 3.03% -3.36% -5.59%
Other Long-Term Liabilities $242.8M $209.2M $206.2M
YoY Change 15.38% -0.35% 35.29%
Total Long-Term Liabilities $4.607B $4.312B $4.326B
YoY Change 3.61% -3.22% -4.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $442.0M $413.1M $419.7M
Total Long-Term Liabilities $4.607B $4.312B $4.326B
Total Liabilities $5.049B $4.725B $4.745B
YoY Change 3.57% -3.39% -3.57%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.795B $3.759B $3.490B
YoY Change 11.63% 10.69% 5.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.901B $2.796B $2.581B
YoY Change
Total Liabilities & Shareholders Equity $8.217B $7.810B $7.622B
YoY Change 7.63% 1.71% 0.19%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income $156.1M $61.68M $114.9M
YoY Change 199.56% 33.49% 21.37%
Depreciation, Depletion And Amortization $77.11M $74.46M $77.82M
YoY Change 9.2% 10.07% 20.83%
Cash From Operating Activities $148.8M $157.5M $105.3M
YoY Change 25.2% 19.18% 3.76%
INVESTING ACTIVITIES
Capital Expenditures -$419.3M -$209.6M -$109.0M
YoY Change 183.71% -54.52% -28.63%
Acquisitions
YoY Change
Other Investing Activities $49.21M -$2.314M $110.7M
YoY Change -1307.09% -109.03% -29.88%
Cash From Investing Activities -$370.1M -$211.9M $1.724M
YoY Change 143.69% -51.31% -66.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 185.4M 70.78M -119.8M
YoY Change -293.14% -137.55% -32.82%
NET CHANGE
Cash From Operating Activities 148.8M 157.5M 105.3M
Cash From Investing Activities -370.1M -211.9M 1.724M
Cash From Financing Activities 185.4M 70.78M -119.8M
Net Change In Cash -35.92M 16.37M -12.74M
YoY Change -72.16% -103.33% -82.2%
FREE CASH FLOW
Cash From Operating Activities $148.8M $157.5M $105.3M
Capital Expenditures -$419.3M -$209.6M -$109.0M
Free Cash Flow $568.1M $367.0M $214.3M
YoY Change 113.07% -38.1% -15.69%

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0.75
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.57
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.38
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.16
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
79202000 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
77474000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78826000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
77160000 shares
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.75
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.57
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.38
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.16
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
79202000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77505000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78855000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77162000 shares
CY2022Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
66689000 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
47002000 usd
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
125333000 usd
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
100435000 usd
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
63701000 usd
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
45266000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
119257000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
96846000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2663148000 usd
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
3527000 usd
us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
115668000 usd
frt Other Comprehensive Income Loss Attributable To Redeemable Noncontrolling Interest
OtherComprehensiveIncomeLossAttributableToRedeemableNoncontrollingInterest
541000 usd
frt Other Comprehensive Income Loss Net Of Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfPortionAttributableToNoncontrollingInterest
5597000 usd
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.14
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
169173000 usd
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
4018000 usd
frt Redeemable Noncontrolling Interest Decrease From Distributions To Redeemable Noncontrolling Interest Holders
RedeemableNoncontrollingInterestDecreaseFromDistributionsToRedeemableNoncontrollingInterestHolders
4138000 usd
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
2625000 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
259452000 usd
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
1011000 usd
frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
7679000 usd
us-gaap Stockholders Equity Other
StockholdersEquityOther
4326000 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2876427000 usd
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2714577000 usd
CY2022Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
1792000 usd
CY2022Q2 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
62675000 usd
CY2022Q2 frt Other Comprehensive Income Loss Attributable To Redeemable Noncontrolling Interest
OtherComprehensiveIncomeLossAttributableToRedeemableNoncontrollingInterest
197000 usd
CY2022Q2 frt Other Comprehensive Income Loss Net Of Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfPortionAttributableToNoncontrollingInterest
2025000 usd
CY2022Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.07
CY2022Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
84977000 usd
CY2022Q2 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
2008000 usd
CY2022Q2 frt Redeemable Noncontrolling Interest Decrease From Distributions To Redeemable Noncontrolling Interest Holders
RedeemableNoncontrollingInterestDecreaseFromDistributionsToRedeemableNoncontrollingInterestHolders
2394000 usd
CY2022Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
866000 usd
CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
176703000 usd
CY2022Q2 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
509000 usd
CY2022Q2 frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
3500000 usd
CY2022Q2 frt Deferred Rent Receivables Collected
DeferredRentReceivablesCollected
32000000 usd
CY2022Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
37000 usd
CY2022Q2 us-gaap Stockholders Equity Other
StockholdersEquityOther
4326000 usd
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2876427000 usd
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2548747000 usd
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
1877000 usd
us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
95921000 usd
frt Other Comprehensive Income Loss Attributable To Redeemable Noncontrolling Interest
OtherComprehensiveIncomeLossAttributableToRedeemableNoncontrollingInterest
231000 usd
frt Other Comprehensive Income Loss Net Of Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfPortionAttributableToNoncontrollingInterest
2406000 usd
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.12
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
164788000 usd
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
4021000 usd
frt Redeemable Noncontrolling Interest Decrease From Distributions To Redeemable Noncontrolling Interest Holders
RedeemableNoncontrollingInterestDecreaseFromDistributionsToRedeemableNoncontrollingInterestHolders
1735000 usd
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
1727000 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
87133000 usd
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
1019000 usd
frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
7507000 usd
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
2813000 usd
frt Contributions From Redeemable Noncontrolling Interests
ContributionsFromRedeemableNoncontrollingInterests
74530000 usd
frt Contributionsfromnoncontrollinginterests
Contributionsfromnoncontrollinginterests
6554000 usd
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2575839000 usd
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2604960000 usd
CY2021Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
1069000 usd
CY2021Q2 us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
46990000 usd
CY2021Q2 frt Other Comprehensive Income Loss Attributable To Redeemable Noncontrolling Interest
OtherComprehensiveIncomeLossAttributableToRedeemableNoncontrollingInterest
-119000 usd
CY2021Q2 frt Other Comprehensive Income Loss Net Of Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfPortionAttributableToNoncontrollingInterest
-938000 usd
CY2021Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.06
CY2021Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
82417000 usd
CY2021Q2 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
2011000 usd
CY2021Q2 frt Redeemable Noncontrolling Interest Decrease From Distributions To Redeemable Noncontrolling Interest Holders
RedeemableNoncontrollingInterestDecreaseFromDistributionsToRedeemableNoncontrollingInterestHolders
1039000 usd
CY2021Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
943000 usd
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
-81000 usd
frt Collectibility Adjustment Increase Decrease To Revenue
CollectibilityAdjustmentIncreaseDecreaseToRevenue
21200000 usd
CY2021Q2 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
474000 usd
CY2021Q2 frt Share Based Compensation Expense Net Value
ShareBasedCompensationExpenseNetValue
3358000 usd
CY2021Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
8000 usd
CY2021Q2 frt Contributions From Redeemable Noncontrolling Interests
ContributionsFromRedeemableNoncontrollingInterests
74530000 usd
CY2021Q2 frt Contributionsfromnoncontrollinginterests
Contributionsfromnoncontrollinginterests
6554000 usd
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2575839000 usd
us-gaap Profit Loss
ProfitLoss
119195000 usd
us-gaap Profit Loss
ProfitLoss
97798000 usd
frt Adjustment Depreciation And Amortization
AdjustmentDepreciationAndAmortization
146135000 usd
frt Adjustment Depreciation And Amortization
AdjustmentDepreciationAndAmortization
131549000 usd
frt Gain On Sale Of Real Estate And Change In Control Of Interest
GainOnSaleOfRealEstateAndChangeInControlOfInterest
0 usd
frt Gain On Sale Of Real Estate And Change In Control Of Interest
GainOnSaleOfRealEstateAndChangeInControlOfInterest
17428000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3005000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1215000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
5261000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-8316000 usd
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
10252000 usd
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-4696000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-18115000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-11370000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-5578000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
2142000 usd
frt Increase Decrease In Security Deposits And Other Liabilities
IncreaseDecreaseInSecurityDepositsAndOtherLiabilities
1172000 usd
frt Increase Decrease In Security Deposits And Other Liabilities
IncreaseDecreaseInSecurityDepositsAndOtherLiabilities
7551000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
260521000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
247209000 usd
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
100022000 usd
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
332574000 usd
frt Capital Expenditures Development Redevelopment
CapitalExpendituresDevelopmentRedevelopment
150524000 usd
frt Capital Expenditures Development Redevelopment
CapitalExpendituresDevelopmentRedevelopment
182657000 usd
frt Capital Expenditures Other
CapitalExpendituresOther
44024000 usd
frt Capital Expenditures Other
CapitalExpendituresOther
34970000 usd
CY2022Q2 frt Tenantswithrevenuerecognizedonacashbasismethod
Tenantswithrevenuerecognizedonacashbasismethod
0.33
us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
874000 usd
us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
19896000 usd
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
417000 usd
us-gaap Payments To Acquire Interest In Subsidiaries And Affiliates
PaymentsToAcquireInterestInSubsidiariesAndAffiliates
2657000 usd
us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
3665000 usd
us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
1131000 usd
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
9629000 usd
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
9265000 usd
frt Issuance And Repayments Of Mortgage And Other Notes Receivable Net
IssuanceAndRepaymentsOfMortgageAndOtherNotesReceivableNet
-18000 usd
frt Issuance And Repayments Of Mortgage And Other Notes Receivable Net
IssuanceAndRepaymentsOfMortgageAndOtherNotesReceivableNet
-31122000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-300059000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-509974000 usd
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
17798000 usd
us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
151310000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
259597000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
87286000 usd
frt Dividends Paid To Common And Preferred Shareholders
DividendsPaidToCommonAndPreferredShareholders
171450000 usd
frt Dividends Paid To Common And Preferred Shareholders
DividendsPaidToCommonAndPreferredShareholders
166847000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4638000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2813000 usd
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 usd
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
104000 usd
frt Paymentsofdividendsandredemptionsminorityinterest
Paymentsofdividendsandredemptionsminorityinterest
6779000 usd
frt Paymentsofdividendsandredemptionsminorityinterest
Paymentsofdividendsandredemptionsminorityinterest
3615000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
58932000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-237195000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
19394000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-499960000 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
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
194557000 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
316936000 usd
frt Collectibility Adjustment Increase Decrease To Revenue
CollectibilityAdjustmentIncreaseDecreaseToRevenue
-2000000 usd
CY2021Q2 frt Collectibility Adjustment Increase Decrease To Revenue
CollectibilityAdjustmentIncreaseDecreaseToRevenue
6400000 usd
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 June 30, 2022, we owned or had a majority interest in community and neighborhood shopping centers and mixed-use properties which are operated as 105 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>
CY2022Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
105 project
frt Minimum Percentage Of Taxable Income Distributed To Shareholders
MinimumPercentageOfTaxableIncomeDistributedToShareholders
0.90
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>
CY2022Q2 frt Collectibility Adjustment Increase Decrease To Revenue
CollectibilityAdjustmentIncreaseDecreaseToRevenue
-1900000 usd
us-gaap Interest Costs Incurred
InterestCostsIncurred
72824000 usd
us-gaap Interest Costs Incurred
InterestCostsIncurred
76284000 usd
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
9177000 usd
us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
13022000 usd
us-gaap Interest Expense
InterestExpense
63647000 usd
us-gaap Interest Expense
InterestExpense
63262000 usd
us-gaap Interest Paid Net
InterestPaidNet
61973000 usd
us-gaap Interest Paid Net
InterestPaidNet
60782000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
607000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
320000 usd
frt Redemptionofdown Rei Toperatingpartnershipunitsforcommonshares
RedemptionofdownREIToperatingpartnershipunitsforcommonshares
1385000 usd
frt Redemptionofdown Rei Toperatingpartnershipunitsforcommonshares
RedemptionofdownREIToperatingpartnershipunitsforcommonshares
5121000 usd
frt Dividends Reinvested In Noncash Financing Transaction
DividendsReinvestedInNoncashFinancingTransaction
866000 usd
frt Dividends Reinvested In Noncash Financing Transaction
DividendsReinvestedInNoncashFinancingTransaction
866000 usd
frt Redemption Of Series1 Preferred Shares For Common Shares
RedemptionOfSeries1PreferredSharesForCommonShares
175000 usd
frt Redemption Of Series1 Preferred Shares For Common Shares
RedemptionOfSeries1PreferredSharesForCommonShares
0 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
176559000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
162132000 usd
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
17998000 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
13031000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
194557000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
175163000 usd
CY2022Q2 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
100000 usd
us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet
300000 usd
CY2021Q2 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
300000 shares
us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
300000 shares
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.140
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
2.140
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.120
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
2.120
CY2022Q2 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
300000 shares
us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
300000 shares
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3500000 usd
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3358000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7679000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7507000 usd
CY2022Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
300000 usd
CY2021Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
360000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
659000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
758000 usd
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
3200000 usd
CY2021Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2998000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
7020000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
6749000 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
64467000 usd
CY2021Q2 us-gaap Profit Loss
ProfitLoss
48059000 usd
us-gaap Profit Loss
ProfitLoss
119195000 usd
us-gaap Profit Loss
ProfitLoss
97798000 usd
CY2022Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2008000 usd
CY2021Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2011000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
4018000 usd
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
4021000 usd
CY2022Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2791000 usd
CY2021Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1855000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
5535000 usd
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3358000 usd
CY2022Q2 frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
300000 usd
CY2021Q2 frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
298000 usd
frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
607000 usd
frt Earnings Allocated To Unvested Shares
EarningsAllocatedToUnvestedShares
592000 usd
CY2022Q2 frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
59368000 usd
CY2021Q2 frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
43895000 usd
frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
109035000 usd
frt Net Income Available For Common Shareholders Basic And Diluted
NetIncomeAvailableForCommonShareholdersBasicAndDiluted
89827000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
79202000 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
77474000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
78826000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
77160000 shares
CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2021Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
31000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
29000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2000 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
79202000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77505000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78855000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77162000 shares
CY2022Q2 frt Earnings Per Common Share Basic And Diluted
EarningsPerCommonShareBasicAndDiluted
0.75
CY2021Q2 frt Earnings Per Common Share Basic And Diluted
EarningsPerCommonShareBasicAndDiluted
0.57
frt Earnings Per Common Share Basic And Diluted
EarningsPerCommonShareBasicAndDiluted
1.38
frt Earnings Per Common Share Basic And Diluted
EarningsPerCommonShareBasicAndDiluted
1.16

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frt-06302022xex311.htm Edgar Link pending
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