$KBSR
KBS Real Estate Investment Trust III, Inc.

2013 Q2 Form 10-Q Financial Statement

#000148243013000044 Filed on May 13, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2013 Q1 2012 Q1
Revenue $16.38M $13.67M $2.840M
YoY Change 126.91% 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 $7.312M $6.138M $1.469M
YoY Change 81.98% 317.84%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit $6.185M $5.817M $1.405M
YoY Change 105.55% 314.02%
Interest Expense $1.918M $1.446M $369.0K
YoY Change 49.73% 291.87%
% of Operating Profit 31.01% 24.86% 26.26%
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$6.113M -$2.376M -$2.133M
YoY Change 121.57% 11.39% 648.42%
Net Earnings / Revenue -37.33% -17.39% -75.11%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 35.42M shares 30.77M shares 12.65M shares
Diluted Shares Outstanding 12.65M shares

Balance Sheet

Concept 2013 Q2 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $32.38M $46.93M $22.00M
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 $760.7M $498.6M $234.8M
YoY Change 155.45% 112.37%
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 $445.0M $249.3M $110.8M
YoY Change 214.47% 125.09%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $409.0K $323.0K $153.0K
YoY Change 108.67% 111.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $307.0M $242.5M $122.6M
YoY Change
Total Liabilities & Shareholders Equity $760.7M $498.6M $234.8M
YoY Change 155.45% 112.37%

Cashflow Statement

Concept 2013 Q2 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income -$6.113M -$2.376M -$2.133M
YoY Change 121.57% 11.39% 648.42%
Depreciation, Depletion And Amortization $7.312M $6.138M $1.469M
YoY Change 81.98% 317.84%
Cash From Operating Activities $1.498M -$428.0K
YoY Change -450.0% 88.55%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$119.7M -$116.2M
YoY Change 3.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$49.18M -$47.77M
YoY Change 2.95% 1171.39%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $141.6M $101.5M
YoY Change 39.58% 3065.8%
NET CHANGE
Cash From Operating Activities $1.498M -$428.0K
Cash From Investing Activities -$119.7M -$116.2M
Cash From Financing Activities $141.6M $101.5M
Net Change In Cash $23.41M -$15.18M
YoY Change -254.23% -609.7%
FREE CASH FLOW
Cash From Operating Activities $1.498M -$428.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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RealEstateInvestmentPropertyAtCost
319060000 USD
CY2012Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
304970000 USD
CY2013Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
425662000 USD
CY2012Q1 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
433000 USD
CY2013Q1 us-gaap Real Estate Taxes And Insurance
RealEstateTaxesAndInsurance
2410000 USD
CY2013Q1 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
728000 USD
CY2012Q1 us-gaap Recognition Of Deferred Revenue
RecognitionOfDeferredRevenue
284000 USD
CY2013Q1 us-gaap Revenues
Revenues
13666000 USD
CY2012Q1 us-gaap Revenues
Revenues
2840000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
8000000 USD
CY2012 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
166857000 USD
CY2013Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
51801000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
322700000 USD
CY2013Q1 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
570000 USD
CY2012 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
740000 USD
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
1300000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
207221000 USD
CY2013Q1 us-gaap Stockholders Equity
StockholdersEquity
242482000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
84271000 USD
CY2013Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
6727000 USD
CY2012Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
4804000 USD
CY2012Q1 us-gaap Tenant Reimbursements
TenantReimbursements
858000 USD
CY2013Q1 us-gaap Tenant Reimbursements
TenantReimbursements
3064000 USD
CY2013Q1 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 condensed 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>
CY2013Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
29700001 shares
CY2012Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
12649936 shares
CY2012Q4 kbsriii Above Market Leases Accumulated Amortization
AboveMarketLeasesAccumulatedAmortization
144000 USD
CY2013Q1 kbsriii Above Market Leases Accumulated Amortization
AboveMarketLeasesAccumulatedAmortization
218000 USD
CY2013Q1 kbsriii Above Market Leases Amortization Expense
AboveMarketLeasesAmortizationExpense
86000 USD
CY2012Q1 kbsriii Above Market Leases Amortization Expense
AboveMarketLeasesAmortizationExpense
10000 USD
CY2012Q4 kbsriii Above Market Leases Gross
AboveMarketLeasesGross
1025000 USD
CY2013Q1 kbsriii Above Market Leases Gross
AboveMarketLeasesGross
1044000 USD
CY2012Q4 kbsriii Above Market Leases Net
AboveMarketLeasesNet
881000 USD
CY2013Q1 kbsriii Above Market Leases Net
AboveMarketLeasesNet
826000 USD
CY2012 kbsriii Adjustments To Additional Paid In Capital Transfers To Redeemable Common Stock
AdjustmentsToAdditionalPaidInCapitalTransfersToRedeemableCommonStock
4501000 USD
CY2013Q1 kbsriii Adjustments To Additional Paid In Capital Transfers To Redeemable Common Stock
AdjustmentsToAdditionalPaidInCapitalTransfersToRedeemableCommonStock
1486000 USD
CY2012Q1 kbsriii Advances On Real Estate Loans Receivable
AdvancesOnRealEstateLoansReceivable
-1058000 USD
CY2013Q1 kbsriii Advances On Real Estate Loans Receivable
AdvancesOnRealEstateLoansReceivable
-130000 USD
CY2013Q1 kbsriii Business Acquisition Pro Forma Depreciation And Amortization
BusinessAcquisitionProFormaDepreciationAndAmortization
6585000 USD
CY2012Q1 kbsriii Business Acquisition Pro Forma Depreciation And Amortization
BusinessAcquisitionProFormaDepreciationAndAmortization
2810000 USD
CY2012Q1 kbsriii Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
-0.18
CY2013Q1 kbsriii Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
-0.03
CY2013Q1 kbsriii Business Combination Pro Forma Information Operating Expense Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationOperatingExpenseOfAcquireeSinceAcquisitionDateActual
2100000 USD
CY2013Q1 kbsriii Business Combination Pro Forma Weighted Average Shares Oustanding Basic And Diluted
BusinessCombinationProFormaWeightedAverageSharesOustandingBasicAndDiluted
30244691 shares
CY2012Q1 kbsriii Business Combination Pro Forma Weighted Average Shares Oustanding Basic And Diluted
BusinessCombinationProFormaWeightedAverageSharesOustandingBasicAndDiluted
14284007 shares
CY2012 kbsriii Commissions On Stock Sales And Related Dealer Manager Fees
CommissionsOnStockSalesAndRelatedDealerManagerFees
14972000 USD
CY2013Q1 kbsriii Commissions On Stock Sales And Related Dealer Manager Fees
CommissionsOnStockSalesAndRelatedDealerManagerFees
4560000 USD
CY2013Q1 kbsriii Common Share Distribution Rate Per Share Per Day Declared
CommonShareDistributionRatePerSharePerDayDeclared
0.00178082 USD
CY2012Q1 kbsriii Common Share Distribution Rate Per Share Per Day Declared
CommonShareDistributionRatePerSharePerDayDeclared
0.00178082 USD
CY2013Q1 kbsriii Deferred Financing Costs Prepaid Expenses And Other Assets
DeferredFinancingCostsPrepaidExpensesAndOtherAssets
6765000 USD
CY2012Q4 kbsriii Deferred Financing Costs Prepaid Expenses And Other Assets
DeferredFinancingCostsPrepaidExpensesAndOtherAssets
2779000 USD
CY2012Q1 kbsriii Distributions Paid To Common Stockholders Through Common Stock Issuances Pursuant To Dividend Reinvestment Plan
DistributionsPaidToCommonStockholdersThroughCommonStockIssuancesPursuantToDividendReinvestmentPlan
791000 USD
CY2013Q1 kbsriii Distributions Paid To Common Stockholders Through Common Stock Issuances Pursuant To Dividend Reinvestment Plan
DistributionsPaidToCommonStockholdersThroughCommonStockIssuancesPursuantToDividendReinvestmentPlan
2056000 USD
CY2012Q1 kbsriii Noncash Increase In Accounts Payable And Accrued Liabilities For Offering Costs
NoncashIncreaseInAccountsPayableAndAccruedLiabilitiesForOfferingCosts
272000 USD
CY2013Q1 kbsriii Noncash Increase In Accounts Payable And Accrued Liabilities For Offering Costs
NoncashIncreaseInAccountsPayableAndAccruedLiabilitiesForOfferingCosts
249000 USD
CY2012Q1 kbsriii Noncash Increase In Lease Commissions Payable
NoncashIncreaseInLeaseCommissionsPayable
0 USD
CY2013Q1 kbsriii Noncash Increase In Lease Commissions Payable
NoncashIncreaseInLeaseCommissionsPayable
116000 USD
CY2012Q1 kbsriii Noncash Increases In Distributions Payable
NoncashIncreasesInDistributionsPayable
254000 USD
CY2012Q4 kbsriii Off Market Lease Unfavorable Accumulated Amortization
OffMarketLeaseUnfavorableAccumulatedAmortization
507000 USD
CY2013Q1 kbsriii Off Market Lease Unfavorable Amortization Expense
OffMarketLeaseUnfavorableAmortizationExpense
-269000 USD
CY2012Q1 kbsriii Off Market Lease Unfavorable Amortization Expense
OffMarketLeaseUnfavorableAmortizationExpense
-36000 USD
CY2013Q1 kbsriii Noncash Increases In Distributions Payable
NoncashIncreasesInDistributionsPayable
278000 USD
CY2012Q1 kbsriii Noncash Interest Income On Real Estate Related Investments
NoncashInterestIncomeOnRealEstateRelatedInvestments
5000 USD
CY2013Q1 kbsriii Noncash Interest Income On Real Estate Related Investments
NoncashInterestIncomeOnRealEstateRelatedInvestments
6000 USD
CY2013Q1 kbsriii Number Of First Mortgage Loan Secured By Deed Of Trust
NumberOfFirstMortgageLoanSecuredByDeedOfTrust
1 MortgageLoans
CY2013Q1 kbsriii Off Market Lease Unfavorable Accumulated Amortization
OffMarketLeaseUnfavorableAccumulatedAmortization
776000 USD
CY2012Q4 kbsriii Off Market Lease Unfavorable Gross
OffMarketLeaseUnfavorableGross
5659000 USD
CY2013Q1 kbsriii Off Market Lease Unfavorable Gross
OffMarketLeaseUnfavorableGross
7810000 USD
CY2012Q1 kbsriii Payments Of Commissions On Stock Sales And Related Dealer Manager Fees
PaymentsOfCommissionsOnStockSalesAndRelatedDealerManagerFees
4406000 USD
CY2013Q1 kbsriii Payments Of Commissions On Stock Sales And Related Dealer Manager Fees
PaymentsOfCommissionsOnStockSalesAndRelatedDealerManagerFees
4560000 USD
CY2013Q1 kbsriii Percentage Of Real Estate Portfolio Occupied
PercentageOfRealEstatePortfolioOccupied
0.90
CY2012Q1 kbsriii Real Estate Acquisition Fees And Expenses To Affiliates
RealEstateAcquisitionFeesAndExpensesToAffiliates
1129000 USD
CY2013Q1 kbsriii Real Estate Acquisition Fees And Expenses To Affiliates
RealEstateAcquisitionFeesAndExpensesToAffiliates
1255000 USD
CY2013Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2012Q4 kbsriii Tenant Origination And Absorption Costs Accumulated Amortization
TenantOriginationAndAbsorptionCostsAccumulatedAmortization
6268000 USD
CY2013Q1 kbsriii Tenant Origination And Absorption Costs Accumulated Amortization
TenantOriginationAndAbsorptionCostsAccumulatedAmortization
8584000 USD
CY2013Q1 kbsriii Tenant Origination And Absorption Costs Amortization Expense
TenantOriginationAndAbsorptionCostsAmortizationExpense
2553000 USD
CY2012Q1 kbsriii Tenant Origination And Absorption Costs Amortization Expense
TenantOriginationAndAbsorptionCostsAmortizationExpense
709000 USD
CY2012Q4 kbsriii Tenant Origination And Absorption Costs Gross
TenantOriginationAndAbsorptionCostsGross
40418000 USD
CY2013Q1 kbsriii Tenant Origination And Absorption Costs Gross
TenantOriginationAndAbsorptionCostsGross
57006000 USD
CY2013Q1 kbsriii Tenant Origination And Absorption Costs Net
TenantOriginationAndAbsorptionCostsNet
48422000 USD
CY2012Q4 kbsriii Tenant Origination And Absorption Costs Net
TenantOriginationAndAbsorptionCostsNet
34150000 USD
CY2013Q1 dei Amendment Flag
AmendmentFlag
false
CY2013Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2013Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013Q1 dei Document Period End Date
DocumentPeriodEndDate
2013-03-31
CY2013Q1 dei Document Type
DocumentType
10-Q
CY2013Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001482430
CY2013Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
35418820 shares
CY2013Q1 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2013Q1 dei Entity Registrant Name
EntityRegistrantName
KBS Real Estate Investment Trust III, Inc.

Files In Submission

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0001482430-13-000044-index-headers.html Edgar Link pending
0001482430-13-000044-index.html Edgar Link pending
0001482430-13-000044.txt Edgar Link pending
0001482430-13-000044-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
kbsriii-20130331.xml Edgar Link completed
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