2013 Q1 Form 10-K Financial Statement

#000148243013000016 Filed on March 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2011 Q4 2011 Q3
Revenue $13.67M $2.284M $212.0K
YoY Change 381.2%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.138M $90.00K
YoY Change 317.84%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit $5.817M $184.0K
YoY Change 314.02%
Interest Expense $1.446M $3.000K
YoY Change 291.87%
% of Operating Profit 24.86% 1.63%
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$2.376M -$845.0K -$1.032M
YoY Change 11.39%
Net Earnings / Revenue -17.39% -37.0% -486.79%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 30.77M shares 7.682M shares 4.783M shares
Diluted Shares Outstanding 4.783M shares

Balance Sheet

Concept 2013 Q1 2011 Q4 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $46.93M $37.18M $15.03M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $498.6M $130.9M $73.54M
YoY Change 112.37% 65329.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $249.3M $45.85M $19.91M
YoY Change 125.09%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $323.0K $105.0K $66.24K
YoY Change 111.11% 10400.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $242.5M $84.27M $53.40M
YoY Change
Total Liabilities & Shareholders Equity $498.6M $130.9M $73.54M
YoY Change 112.37% 65329.0%

Cashflow Statement

Concept 2013 Q1 2011 Q4 2011 Q3
OPERATING ACTIVITIES
Net Income -$2.376M -$845.0K -$1.032M
YoY Change 11.39%
Depreciation, Depletion And Amortization $6.138M $90.00K
YoY Change 317.84%
Cash From Operating Activities $1.498M
YoY Change -450.0%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$119.7M
YoY Change 3.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$49.18M
YoY Change 2.95%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $141.6M
YoY Change 39.58%
NET CHANGE
Cash From Operating Activities $1.498M
Cash From Investing Activities -$119.7M
Cash From Financing Activities $141.6M
Net Change In Cash $23.41M
YoY Change -254.23%
FREE CASH FLOW
Cash From Operating Activities $1.498M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionCarryingCosts
3010000 USD
CY2012Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
283666000 USD
CY2012Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
32384000 USD
CY2012Q4 us-gaap Real Estate Federal Income Tax Basis
RealEstateFederalIncomeTaxBasis
319900000 USD
CY2012Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
319060000 USD
CY2011Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
83429000 USD
CY2010Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
0 USD
CY2012 us-gaap Real Estate Improvements
RealEstateImprovements
3686000 USD
CY2011 us-gaap Real Estate Improvements
RealEstateImprovements
144000 USD
CY2011Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1100000 USD
CY2012Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
14090000 USD
CY2012Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
319060000 USD
CY2011Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
83429000 USD
CY2012Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
304970000 USD
CY2011Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
82329000 USD
CY2011 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
83285000 USD
CY2012 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
232765000 USD
CY2011 us-gaap Real Estate Other Deductions
RealEstateOtherDeductions
0 USD
CY2012 us-gaap Real Estate Other Deductions
RealEstateOtherDeductions
820000 USD
CY2012 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
4567000 USD
CY2011 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
314000 USD
CY2011 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
279000 USD
CY2012 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
2281000 USD
CY2011 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
0 USD
CY2012 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
102700000 USD
CY2011 us-gaap Revenues
Revenues
2512000 USD
CY2012 us-gaap Revenues
Revenues
27283000 USD
CY2011Q4 us-gaap Revenues
Revenues
2284000 USD
CY2011Q2 us-gaap Revenues
Revenues
16000 USD
CY2011Q3 us-gaap Revenues
Revenues
212000 USD
CY2011Q1 us-gaap Revenues
Revenues
0 USD
CY2012Q1 us-gaap Revenues
Revenues
2840000 USD
CY2012Q3 us-gaap Revenues
Revenues
8300000 USD
CY2012Q4 us-gaap Revenues
Revenues
8926000 USD
CY2012Q2 us-gaap Revenues
Revenues
7217000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
6000000 USD
CY2011 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
104030000 USD
CY2012 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
166857000 USD
CY2012 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
740000 USD
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
700000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
84271000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
207221000 USD
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
200000 USD
CY2012Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
4804000 USD
CY2011Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
740000 USD
CY2012 us-gaap Tenant Reimbursements
TenantReimbursements
5122000 USD
CY2011 us-gaap Tenant Reimbursements
TenantReimbursements
691000 USD
CY2012 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the consolidated financial statements and the notes thereto in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. </font></div></div>
CY2011 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
3724745 shares
CY2012 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
19253338 shares
CY2012Q4 kbsriii Above Market Leases Net
AboveMarketLeasesNet
881000 USD
CY2011Q4 kbsriii Above Market Leases Net
AboveMarketLeasesNet
101000 USD
CY2011 kbsriii Adjustments To Additional Paid In Capital Transfers To Redeemable Common Stock
AdjustmentsToAdditionalPaidInCapitalTransfersToRedeemableCommonStock
740000 USD
CY2012 kbsriii Adjustments To Additional Paid In Capital Transfers To Redeemable Common Stock
AdjustmentsToAdditionalPaidInCapitalTransfersToRedeemableCommonStock
4501000 USD
CY2012 kbsriii Advances On Real Estate Loans Receivable
AdvancesOnRealEstateLoansReceivable
-3403000 USD
CY2011 kbsriii Advances On Real Estate Loans Receivable
AdvancesOnRealEstateLoansReceivable
0 USD
CY2012 kbsriii Annualized Base Rent
AnnualizedBaseRent
11124000 USD
CY2012 kbsriii Business Acquisition Pro Forma Depreciation And Amortization
BusinessAcquisitionProFormaDepreciationAndAmortization
18424000 USD
CY2011 kbsriii Business Acquisition Pro Forma Depreciation And Amortization
BusinessAcquisitionProFormaDepreciationAndAmortization
10990000 USD
CY2012 kbsriii Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
-0.12
CY2011 kbsriii Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
-0.12
CY2012Q4 kbsriii Business Acquisition Purchase Price Allocation Above Market Lease Assets
BusinessAcquisitionPurchasePriceAllocationAboveMarketLeaseAssets
916000 USD
CY2012Q4 kbsriii Business Acquisition Purchase Price Allocation Below Market Lease Liabilities
BusinessAcquisitionPurchasePriceAllocationBelowMarketLeaseLiabilities
-5373000 USD
CY2012Q4 kbsriii Business Acquisition Purchase Price Allocation Buildings And Improvements
BusinessAcquisitionPurchasePriceAllocationBuildingsAndImprovements
178879000 USD
CY2012Q4 kbsriii Business Acquisition Purchase Price Allocation Tenant Origination And Absorption Costs
BusinessAcquisitionPurchasePriceAllocationTenantOriginationAndAbsorptionCosts
29002000 USD
CY2012 kbsriii Business Combination Pro Forma Information Operating Expense Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationOperatingExpenseOfAcquireeSinceAcquisitionDateActual
9600000 USD
CY2012 kbsriii Business Combination Pro Forma Weighted Average Shares Oustanding Basic And Diluted
BusinessCombinationProFormaWeightedAverageSharesOustandingBasicAndDiluted
26719390 shares
CY2011 kbsriii Business Combination Pro Forma Weighted Average Shares Oustanding Basic And Diluted
BusinessCombinationProFormaWeightedAverageSharesOustandingBasicAndDiluted
17750503 shares
CY2012 kbsriii Commissions On Stock Sales And Related Dealer Manager Fees
CommissionsOnStockSalesAndRelatedDealerManagerFees
14972000 USD
CY2011 kbsriii Commissions On Stock Sales And Related Dealer Manager Fees
CommissionsOnStockSalesAndRelatedDealerManagerFees
9434000 USD
CY2012 kbsriii Common Share Distribution Rate Per Share Per Day Declared
CommonShareDistributionRatePerSharePerDayDeclared
0.00178082 USD
CY2012Q3 kbsriii Common Share Distribution Rate Per Share Per Day Declared
CommonShareDistributionRatePerSharePerDayDeclared
0.00178082 USD
kbsriii Common Share Distribution Rate Per Share Per Day Declared
CommonShareDistributionRatePerSharePerDayDeclared
0.00178082 USD
kbsriii Common Share Distribution Rate Per Share Per Day Declared
CommonShareDistributionRatePerSharePerDayDeclared
0.00178082 USD
kbsriii Common Share Distribution Rate Per Share Per Day Declared
CommonShareDistributionRatePerSharePerDayDeclared
0.00178082 USD
CY2012Q4 kbsriii Deferred Financing Costs Prepaid Expenses And Other Assets
DeferredFinancingCostsPrepaidExpensesAndOtherAssets
2779000 USD
CY2011Q4 kbsriii Deferred Financing Costs Prepaid Expenses And Other Assets
DeferredFinancingCostsPrepaidExpensesAndOtherAssets
556000 USD
CY2011 kbsriii Distributions Paid To Common Stockholders Through Common Stock Issuances Pursuant To Dividend Reinvestment Plan
DistributionsPaidToCommonStockholdersThroughCommonStockIssuancesPursuantToDividendReinvestmentPlan
740000 USD
CY2012 kbsriii Distributions Paid To Common Stockholders Through Common Stock Issuances Pursuant To Dividend Reinvestment Plan
DistributionsPaidToCommonStockholdersThroughCommonStockIssuancesPursuantToDividendReinvestmentPlan
5241000 USD
CY2012Q4 kbsriii Dividend Reinvestment Plan Initial Purchase Price Per Share
DividendReinvestmentPlanInitialPurchasePricePerShare
9.50
CY2011 kbsriii Noncash Increase In Accounts Payable And Accrued Liabilities For Offering Costs
NoncashIncreaseInAccountsPayableAndAccruedLiabilitiesForOfferingCosts
60000 USD
CY2012 kbsriii Noncash Increase In Accounts Payable And Accrued Liabilities For Offering Costs
NoncashIncreaseInAccountsPayableAndAccruedLiabilitiesForOfferingCosts
47000 USD
CY2012 kbsriii Noncash Increase In Lease Commissions Payable
NoncashIncreaseInLeaseCommissionsPayable
123000 USD
CY2011 kbsriii Noncash Increase In Lease Commissions Payable
NoncashIncreaseInLeaseCommissionsPayable
0 USD
CY2011 kbsriii Noncash Increase In Redeemable Common Stock
NoncashIncreaseInRedeemableCommonStock
0 USD
CY2012 kbsriii Noncash Increase In Redeemable Common Stock
NoncashIncreaseInRedeemableCommonStock
437000 USD
CY2012 kbsriii Noncash Increases In Distributions Payable
NoncashIncreasesInDistributionsPayable
932000 USD
CY2011 kbsriii Noncash Increases In Distributions Payable
NoncashIncreasesInDistributionsPayable
533000 USD
CY2011 kbsriii Noncash Interest Income On Real Estate Related Investments
NoncashInterestIncomeOnRealEstateRelatedInvestments
2000 USD
CY2012 kbsriii Noncash Interest Income On Real Estate Related Investments
NoncashInterestIncomeOnRealEstateRelatedInvestments
22000 USD
CY2012Q4 kbsriii Number Of First Mortgage Loan Secured By Deed Of Trust
NumberOfFirstMortgageLoanSecuredByDeedOfTrust
1 MortgageLoans
CY2012Q4 kbsriii Origination Fee Percent
OriginationFeePercent
0.010
CY2012 kbsriii Par Value Determination Offering Stage Completion Term
ParValueDeterminationOfferingStageCompletionTerm
P18M
CY2012 kbsriii Payments Of Commissions On Stock Sales And Related Dealer Manager Fees
PaymentsOfCommissionsOnStockSalesAndRelatedDealerManagerFees
14972000 USD
CY2011 kbsriii Payments Of Commissions On Stock Sales And Related Dealer Manager Fees
PaymentsOfCommissionsOnStockSalesAndRelatedDealerManagerFees
9434000 USD
CY2012Q4 kbsriii Percent Of Dealer Manager Reallows Of Sales Commissions Earned To Participating Broker Dealer
PercentOfDealerManagerReallowsOfSalesCommissionsEarnedToParticipatingBrokerDealer
1
CY2012Q4 kbsriii Percentage Of Real Estate Portfolio Occupied
PercentageOfRealEstatePortfolioOccupied
0.92
CY2011 kbsriii Real Estate Acquisition Fees And Expenses To Affiliates
RealEstateAcquisitionFeesAndExpensesToAffiliates
836000 USD
CY2012 kbsriii Real Estate Acquisition Fees And Expenses To Affiliates
RealEstateAcquisitionFeesAndExpensesToAffiliates
2296000 USD
CY2012Q4 kbsriii Real Estate And Accumulated Depreciation Initial Cost Of Land And Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfLandAndBuildingsAndImprovements
316050000 USD
CY2012Q4 kbsriii Reimbursment To Entity For Organization And Offering Expenses Excluding Underwriting Compensation Threshold Percent
ReimbursmentToEntityForOrganizationAndOfferingExpensesExcludingUnderwritingCompensationThresholdPercent
0.02
kbsriii Stock Issued During Period Shares Dividend Reinvestment Plan Other Offering Cost
StockIssuedDuringPeriodSharesDividendReinvestmentPlanOtherOfferingCost
8600000 USD
kbsriii Stock Issued During Period Shares Dividend Reinvestment Plan Selling Commissions And Dealer Manager Fees
StockIssuedDuringPeriodSharesDividendReinvestmentPlanSellingCommissionsAndDealerManagerFees
24400000 USD
CY2012Q4 kbsriii Tenant Origination And Absorption Costs Gross
TenantOriginationAndAbsorptionCostsGross
40418000 USD
CY2011Q4 kbsriii Tenant Origination And Absorption Costs Gross
TenantOriginationAndAbsorptionCostsGross
12080000 USD
CY2012 dei Amendment Flag
AmendmentFlag
false
CY2012 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2012 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2012 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012 dei Document Period End Date
DocumentPeriodEndDate
2012-12-31
CY2012 dei Document Type
DocumentType
10-K
CY2012 dei Entity Central Index Key
EntityCentralIndexKey
0001482430
CY2013Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
30769745 shares
CY2012 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2012 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2012Q2 dei Entity Public Float
EntityPublicFloat
0 USD
CY2012 dei Entity Registrant Name
EntityRegistrantName
KBS Real Estate Investment Trust III, Inc.
CY2012 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2012 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No

Files In Submission

Name View Source Status
0001482430-13-000016-index-headers.html Edgar Link pending
0001482430-13-000016-index.html Edgar Link pending
0001482430-13-000016.txt Edgar Link pending
0001482430-13-000016-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
kbsriii-20121231.xml Edgar Link completed
kbsriii-20121231.xsd Edgar Link pending
kbsriii-20121231_cal.xml Edgar Link unprocessable
kbsriii-20121231_def.xml Edgar Link unprocessable
kbsriii-20121231_lab.xml Edgar Link unprocessable
kbsriii-20121231_pre.xml Edgar Link unprocessable
kbsriiiq4201210k.htm Edgar Link pending
kbsriiiq42012exhibit311.htm Edgar Link pending
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