2018 Q2 Form 10-Q Financial Statement

#000168979618000016 Filed on August 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $159.4M $118.0M
YoY Change 35.1% 1.44%
Cost Of Revenue $69.10M $44.30M
YoY Change 55.98% 6.75%
Gross Profit $90.30M $73.70M
YoY Change 22.52% -1.47%
Gross Profit Margin 56.63% 62.45%
Selling, General & Admin $21.70M $11.30M
YoY Change 92.04% -5.04%
% of Gross Profit 24.03% 15.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $49.10M $32.40M
YoY Change 51.54% -2.11%
% of Gross Profit 54.37% 43.96%
Operating Expenses $142.8M $92.81M
YoY Change 53.83% 7.82%
Operating Profit $16.68M $25.22M
YoY Change -33.84% -16.68%
Interest Expense $18.03M $14.59M
YoY Change 23.59% 7.65%
% of Operating Profit 108.07% 57.85%
Other Income/Expense, Net $7.655M
YoY Change
Pretax Income $24.34M $11.70M
YoY Change 107.93% -31.56%
Income Tax $313.0K $363.0K
% Of Pretax Income 1.29% 3.1%
Net Earnings $20.57M $11.34M
YoY Change 81.41% -32.43%
Net Earnings / Revenue 12.9% 9.61%
Basic Earnings Per Share $0.17 $0.11
Diluted Earnings Per Share $0.17 $0.11
COMMON SHARES
Basic Shares Outstanding 118.0M shares
Diluted Shares Outstanding 118.0M shares 100.6M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $239.4M $280.6M
YoY Change -14.68%
Cash & Equivalents $239.4M $280.6M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $182.7M $248.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $422.1M $529.0M
YoY Change -20.21%
LONG-TERM ASSETS
Property, Plant & Equipment $4.826B $3.212B
YoY Change 50.26%
Goodwill
YoY Change
Intangibles $104.1M $2.739M
YoY Change 3699.67%
Long-Term Investments $368.3M $45.50M
YoY Change 709.45%
Other Assets $148.9M $107.0M
YoY Change 39.16%
Total Long-Term Assets $5.493B $3.381B
YoY Change 62.46%
TOTAL ASSETS
Total Short-Term Assets $422.1M $529.0M
Total Long-Term Assets $5.493B $3.381B
Total Assets $5.915B $3.910B
YoY Change 51.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $130.4M $31.80M
YoY Change 310.06%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $144.3M $42.10M
YoY Change 242.76%
LONG-TERM LIABILITIES
Long-Term Debt $2.055B $1.666B
YoY Change 23.33%
Other Long-Term Liabilities $89.70M $39.70M
YoY Change 125.94%
Total Long-Term Liabilities $2.144B $1.706B
YoY Change 25.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $144.3M $42.10M
Total Long-Term Liabilities $2.144B $1.706B
Total Liabilities $2.296B $1.748B
YoY Change 31.35%
SHAREHOLDERS EQUITY
Retained Earnings -$106.0M
YoY Change
Common Stock $1.180M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.950B $2.162B
YoY Change
Total Liabilities & Shareholders Equity $5.915B $3.910B
YoY Change 51.28%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $20.57M $11.34M
YoY Change 81.41% -32.43%
Depreciation, Depletion And Amortization $49.10M $32.40M
YoY Change 51.54% -2.11%
Cash From Operating Activities $58.80M $33.10M
YoY Change 77.64% 0.3%
INVESTING ACTIVITIES
Capital Expenditures -$81.10M -$26.20M
YoY Change 209.54% -63.81%
Acquisitions
YoY Change
Other Investing Activities $225.7M -$1.200M
YoY Change -18908.33% -91.49%
Cash From Investing Activities $144.6M -$27.60M
YoY Change -623.91% -68.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -190.2M 223.4M
YoY Change -185.14% 289.88%
NET CHANGE
Cash From Operating Activities 58.80M 33.10M
Cash From Investing Activities 144.6M -27.60M
Cash From Financing Activities -190.2M 223.4M
Net Change In Cash 13.20M 228.9M
YoY Change -94.23% 5923.68%
FREE CASH FLOW
Cash From Operating Activities $58.80M $33.10M
Capital Expenditures -$81.10M -$26.20M
Free Cash Flow $139.9M $59.30M
YoY Change 135.92% -43.74%

Facts In Submission

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30416000 USD
us-gaap Cost Of Other Property Operating Expense
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61277000 USD
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6654000 USD
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8202000 USD
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3730000 USD
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3249000 USD
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146315000 USD
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144837000 USD
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CY2018Q2 us-gaap Deposit Assets
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4020000 USD
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31993000 USD
us-gaap Depreciation And Amortization
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65775000 USD
CY2018Q2 us-gaap Depreciation And Amortization
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48117000 USD
us-gaap Depreciation And Amortization
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97277000 USD
us-gaap Depreciation Depletion And Amortization
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66563000 USD
us-gaap Depreciation Depletion And Amortization
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99312000 USD
CY2017Q4 us-gaap Derivative Instruments In Hedges Assets At Fair Value
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2141000 USD
CY2018Q2 us-gaap Derivative Instruments In Hedges Assets At Fair Value
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23977000 USD
CY2017Q4 us-gaap Development In Process
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978942000 USD
CY2018Q2 us-gaap Development In Process
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us-gaap Dividends
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26537000 USD
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31097000 USD
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0 USD
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0.11
us-gaap Earnings Per Share Basic
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0.18
CY2018Q2 us-gaap Earnings Per Share Basic
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0.17
us-gaap Earnings Per Share Basic
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0.14
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0.11
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.18
CY2018Q2 us-gaap Earnings Per Share Diluted
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0.17
us-gaap Earnings Per Share Diluted
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0.14
CY2017Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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0 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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1506000 USD
CY2018Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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879000 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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0 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y9M
CY2018Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
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119500000 USD
us-gaap Equity Method Investment Dividends Or Distributions
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628000 USD
CY2018Q2 us-gaap Equity Method Investment Dividends Or Distributions
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5400000 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
5168000 USD
CY2017Q4 us-gaap Equity Method Investment Summarized Financial Information Assets
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2371401000 USD
CY2018Q2 us-gaap Equity Method Investment Summarized Financial Information Assets
EquityMethodInvestmentSummarizedFinancialInformationAssets
2730044000 USD
CY2017Q4 us-gaap Equity Method Investment Summarized Financial Information Equity Or Capital
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1104784000 USD
CY2018Q2 us-gaap Equity Method Investment Summarized Financial Information Equity Or Capital
EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapital
1244618000 USD
CY2017Q4 us-gaap Equity Method Investment Summarized Financial Information Liabilities
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1266617000 USD
CY2018Q2 us-gaap Equity Method Investment Summarized Financial Information Liabilities
EquityMethodInvestmentSummarizedFinancialInformationLiabilities
1485426000 USD
CY2017Q4 us-gaap Equity Method Investment Summarized Financial Information Liabilities And Equity
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2371401000 USD
CY2018Q2 us-gaap Equity Method Investment Summarized Financial Information Liabilities And Equity
EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity
2730044000 USD
CY2017Q4 us-gaap Equity Method Investment Summarized Financial Information Minority Interest
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0 USD
CY2018Q2 us-gaap Equity Method Investment Summarized Financial Information Minority Interest
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0 USD
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EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
3570000 USD
us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
5993000 USD
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-514000 USD
us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
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-5189000 USD
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EquityMethodInvestmentSummarizedFinancialInformationRevenue
18318000 USD
us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
36557000 USD
CY2018Q2 us-gaap Equity Method Investment Summarized Financial Information Revenue
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87518000 USD
us-gaap Equity Method Investment Summarized Financial Information Revenue
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160691000 USD
CY2017Q1 us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
CY2017Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
CY2018Q2 us-gaap Gains Losses On Extinguishment Of Debt
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-4457000 USD
us-gaap Gains Losses On Extinguishment Of Debt
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-4457000 USD
CY2017Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
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0 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
0 USD
CY2018Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
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33396000 USD
us-gaap Gains Losses On Sales Of Investment Real Estate
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33851000 USD
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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11704000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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18376000 USD
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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24336000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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18642000 USD
CY2017Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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70157000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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138769000 USD
CY2018Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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85282000 USD
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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172402000 USD
CY2017Q2 us-gaap Income Loss From Equity Method Investments
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105000 USD
us-gaap Income Loss From Equity Method Investments
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314000 USD
CY2018Q2 us-gaap Income Loss From Equity Method Investments
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3836000 USD
us-gaap Income Loss From Equity Method Investments
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1934000 USD
CY2017Q2 us-gaap Income Tax Expense Benefit
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363000 USD
us-gaap Income Tax Expense Benefit
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us-gaap Income Taxes Paid
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706000 USD
us-gaap Income Tax Expense Benefit
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717000 USD
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313000 USD
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us-gaap Increase Decrease In Accounts And Notes Receivable
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us-gaap Income Taxes Paid
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49000 USD
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359000 USD
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14868000 USD
us-gaap Increase Decrease In Other Operating Assets
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5263000 USD
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1267000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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-1996000 USD
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us-gaap Interest Expense
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28504000 USD
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18027000 USD
us-gaap Interest Expense
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37284000 USD
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14672000 USD
us-gaap Interest Expense Debt Excluding Amortization
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28633000 USD
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21884000 USD
us-gaap Interest Expense Debt Excluding Amortization
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9182000 USD
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22719000 USD
us-gaap Interest Paid Net
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31741000 USD
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0 USD
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3216000 USD
CY2017Q4 us-gaap Investment Building And Building Improvements
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970000 USD
us-gaap Investment Income Net
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1745000 USD
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513000 USD
us-gaap Investment Income Net
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1086000 USD
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us-gaap Lease And Rental Expense
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us-gaap Lease And Rental Expense
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98396000 USD
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2295660000 USD
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6071807000 USD
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4486000 USD
us-gaap Management Fee Expense
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9184000 USD
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21189000 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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0 USD
us-gaap Management Fee Expense
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43798000 USD
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6794000 USD
us-gaap Management Fees Revenue
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13919000 USD
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24160000 USD
us-gaap Management Fees Revenue
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48490000 USD
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487000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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235584000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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51296000 USD
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72658000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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93545000 USD
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11341000 USD
us-gaap Net Income Loss
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17659000 USD
CY2018Q2 us-gaap Net Income Loss
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20574000 USD
us-gaap Net Income Loss
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16384000 USD
CY2017Q2 us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
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0 USD
us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
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0 USD
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-125000 USD
us-gaap Net Income Loss Attributable To Nonredeemable Noncontrolling Interest
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CY2017Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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0 USD
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3574000 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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2980000 USD
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11341000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
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17659000 USD
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20356000 USD
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16023000 USD
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16257000 USD
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3 segment
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67 property
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3 segment
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92805000 USD
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189471000 USD
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25215000 USD
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44821000 USD
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16681000 USD
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100747000 USD
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199771000 USD
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125240000 USD
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251891000 USD
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9333000 USD
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11276000 USD
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48600000 USD
CY2017Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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0 USD
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5215000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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19311000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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0 USD
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11552000 USD
us-gaap Other General And Administrative Expense
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24944000 USD
CY2018Q2 us-gaap Other General And Administrative Expense
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12651000 USD
us-gaap Other Comprehensive Income Loss Derivatives Qualifying As Hedges Net Of Tax
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22600000 USD
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
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0 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
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0 USD
CY2018Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
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5629000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
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20760000 USD
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0 USD
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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0 USD
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci On Derivatives Net Of Tax
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25362000 USD
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OtherIncome
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us-gaap Other Income
OtherIncome
3114000 USD
CY2018Q2 us-gaap Other Income
OtherIncome
2080000 USD
us-gaap Other Income
OtherIncome
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us-gaap Other Noncash Income Expense
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CY2017Q4 us-gaap Other Sundry Liabilities
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4227000 USD
CY2018Q2 us-gaap Other Sundry Liabilities
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1597000 USD
us-gaap Payments For Proceeds From Other Real Estate Partnerships
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0 USD
us-gaap Payments For Proceeds From Other Real Estate Partnerships
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548000 USD
us-gaap Payments Of Debt Issuance Costs
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2930000 USD
us-gaap Payments Of Debt Issuance Costs
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0 USD
us-gaap Payments Of Dividends Common Stock
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53077000 USD
us-gaap Payments Of Dividends Minority Interest
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0 USD
us-gaap Payments Of Dividends Minority Interest
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9214000 USD
us-gaap Payments To Acquire And Develop Real Estate
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54747000 USD
us-gaap Payments To Acquire And Develop Real Estate
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165718000 USD
us-gaap Payments To Acquire Equity Method Investments
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0 USD
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
386000 USD
us-gaap Payments To Acquire Other Investments
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1396000 USD
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
665000 USD
us-gaap Payments To Acquire Real Estate And Real Estate Joint Ventures
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14000 USD
us-gaap Payments To Acquire Real Estate And Real Estate Joint Ventures
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16167000 USD
us-gaap Payments To Minority Shareholders
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120000 USD
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2018Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
200000000 shares
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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0 USD
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q4 us-gaap Preferred Stock Value
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0 USD
CY2018Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2017Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
9038000 USD
CY2018Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
5961000 USD
us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
21203000 USD
us-gaap Proceeds From Contributions From Affiliates
ProceedsFromContributionsFromAffiliates
0 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
0 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
1350000 USD
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
0 USD
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
50000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
35000000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
220000000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
41344000 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
4000000 USD
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
0 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
232882000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
11341000 USD
us-gaap Profit Loss
ProfitLoss
17659000 USD
CY2018Q2 us-gaap Profit Loss
ProfitLoss
24023000 USD
us-gaap Profit Loss
ProfitLoss
19237000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
692000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1565000 USD
CY2018Q2 us-gaap Purchase Obligation
PurchaseObligation
461000000 USD
CY2017Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1011330000 USD
CY2018Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1045632000 USD
CY2017Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
6017504000 USD
CY2018Q2 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
5871948000 USD
CY2017Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
5006174000 USD
CY2018Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
4826316000 USD
CY2017Q4 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
261811000 USD
CY2018Q2 us-gaap Real Estate Investments Unconsolidated Real Estate And Other Joint Ventures
RealEstateInvestmentsUnconsolidatedRealEstateAndOtherJointVentures
368308000 USD
CY2017Q2 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
15582000 USD
us-gaap Real Estate Tax Expense
RealEstateTaxExpense
30754000 USD
CY2018Q2 us-gaap Real Estate Tax Expense
RealEstateTaxExpense
17509000 USD
us-gaap Real Estate Tax Expense
RealEstateTaxExpense
37119000 USD
CY2017Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
609129000 USD
CY2018Q2 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
665623000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
115022000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
0 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
52000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
6689000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
170021000 USD
CY2017Q2 us-gaap Restricted Cash
RestrictedCash
3735000 USD
CY2017Q4 us-gaap Restricted Cash
RestrictedCash
21881000 USD
CY2018Q2 us-gaap Restricted Cash
RestrictedCash
22248000 USD
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-95809000 USD
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-105962000 USD
CY2017Q2 us-gaap Revenues
Revenues
118020000 USD
us-gaap Revenues
Revenues
234292000 USD
CY2018Q2 us-gaap Revenues
Revenues
159447000 USD
us-gaap Revenues
Revenues
322484000 USD
CY2017Q2 us-gaap Sales Revenue Net
SalesRevenueNet
109694000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
217259000 USD
CY2018Q2 us-gaap Sales Revenue Net
SalesRevenueNet
133207000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
270798000 USD
CY2017Q4 us-gaap Secured Debt
SecuredDebt
2025692000 USD
CY2018Q2 us-gaap Secured Debt
SecuredDebt
1906402000 USD
CY2017Q4 us-gaap Security Deposit Liability
SecurityDepositLiability
13618000 USD
CY2018Q2 us-gaap Security Deposit Liability
SecurityDepositLiability
13864000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1294000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
27276000 USD
CY2017Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
603000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
1294000 USD
CY2018Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
14177000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
27276000 USD
us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
1294000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
2970608000 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
2950074000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2121984000 USD
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2162140000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2974814000 USD
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2953666000 USD
us-gaap Stockholders Equity Note Spinoff Transaction
StockholdersEquityNoteSpinoffTransaction
21203000 USD
us-gaap Straight Line Rent
StraightLineRent
6829000 USD
us-gaap Straight Line Rent
StraightLineRent
6265000 USD
us-gaap Temporary Equity Issue Period Increase Or Decrease
TemporaryEquityIssuePeriodIncreaseOrDecrease
27883000 USD
us-gaap Temporary Equity Net Income
TemporaryEquityNetIncome
2980000 USD
CY2017Q2 us-gaap Tenant Reimbursements
TenantReimbursements
8947000 USD
us-gaap Tenant Reimbursements
TenantReimbursements
17488000 USD
CY2018Q2 us-gaap Tenant Reimbursements
TenantReimbursements
7967000 USD
us-gaap Tenant Reimbursements
TenantReimbursements
18907000 USD
CY2017Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0 USD
CY2018Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
218000 USD
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
361000 USD
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100571000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
100571000 shares
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
100571000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
100571000 shares
CY2017Q2 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
0 USD
CY2018Q2 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
400000 USD
CY2018Q2 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
432000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
1551000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
1600000 USD
CY2017Q4 us-gaap Unsecured Debt
UnsecuredDebt
46537000 USD
CY2018Q2 us-gaap Unsecured Debt
UnsecuredDebt
96833000 USD
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
117955000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
117955000 shares
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
117955000 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
117955000 shares
us-gaap Basis Of Accounting
BasisOfAccounting
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying unaudited condensed consolidated and combined financial statements and notes are prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and with the instructions of Form 10-Q and Article 10 of Regulation S-X. Accordingly, these unaudited condensed consolidated and</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">combined financial statements do not contain certain information required in annual financial statements and notes as required under GAAP. In our opinion, all adjustments considered necessary for a fair presentation have been included, and all such adjustments are of a normal recurring nature. All intercompany transactions and balances have been eliminated. The results of operations for the </font><font style="font-family:inherit;font-size:10pt;">three and six months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;"> are not necessarily indicative of the results that may be expected for a full year. These condensed consolidated and combined financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;">December 31, 2017</font><font style="font-family:inherit;font-size:10pt;">, filed with the Securities and Exchange Commission.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying condensed consolidated and combined financial statements include the accounts of JBG SMITH and our wholly owned subsidiaries and those other entities, including JBG SMITH LP, in which we have a controlling financial interest, including where we have been determined to be the primary beneficiary of a variable interest entity ("VIE"). See Note 5 for additional information on our VIEs. The portions of the equity and net income of consolidated subsidiaries that are not attributable to JBG SMITH are presented separately as amounts attributable to noncontrolling interests in our condensed consolidated and combined financial statements. </font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">References to the financial statements refer to our condensed consolidated and combined financial statements as of </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">, and for the </font><font style="font-family:inherit;font-size:10pt;">three and six months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">. References to the balance sheets refer to our condensed consolidated balance sheets as of </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2017</font><font style="font-family:inherit;font-size:10pt;">. References to the statements of operations refer to our condensed consolidated and combined statements of operations for the </font><font style="font-family:inherit;font-size:10pt;">three and six months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">. References to the statements of cash flows refer to our condensed consolidated and combined statements of cash flows for the </font><font style="font-family:inherit;font-size:10pt;">six months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2017</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For the </font><font style="font-family:inherit;font-size:10pt;">three and six months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2017</font><font style="font-family:inherit;font-size:10pt;">, we reclassified </font><font style="font-family:inherit;font-size:10pt;">$4.5 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$9.2 million</font><font style="font-family:inherit;font-size:10pt;"> of expenses to "General and administrative: third-party real estate services" from "Property operating expenses" and "General and administrative: corporate and other" as it relates to expenses incurred to provide third-party real estate services. Additionally, we reclassified </font><font style="font-family:inherit;font-size:10pt;">$1.8 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$3.8 million</font><font style="font-family:inherit;font-size:10pt;"> of revenue for the </font><font style="font-family:inherit;font-size:10pt;">three and six months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2017</font><font style="font-family:inherit;font-size:10pt;"> to "Third-party real estate services, including reimbursements" from "Other income" as it relates to revenue earned from providing third-party real estate services.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. The most significant of these estimates include: (i) the underlying cash flows used to establish the fair values recorded in connection with the Combination and used in assessing impairment and (ii) the determination of useful lives for tangible and intangible assets. Actual results could differ from these estimates.</font></div></div>

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