2017 Q4 Form 10-K Financial Statement

#000102599619000051 Filed on February 15, 2019

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $177.6M $181.5M $180.6M
YoY Change 5.29% 7.83% 12.78%
Cost Of Revenue $49.50M $51.00M $51.40M
YoY Change 8.79% 12.09% 17.35%
Gross Profit $128.0M $130.5M $129.2M
YoY Change 3.9% 6.18% 11.09%
Gross Profit Margin 72.09% 71.89% 71.54%
Selling, General & Admin $17.40M $15.60M $14.70M
YoY Change 8.07% 15.56% 5.0%
% of Gross Profit 13.59% 11.95% 11.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $60.20M $62.50M $62.30M
YoY Change 6.17% 10.23% 16.67%
% of Gross Profit 47.03% 47.89% 48.22%
Operating Expenses $77.50M $129.1M $128.4M
YoY Change 6.31% 11.46% 14.73%
Operating Profit $50.50M $1.380M $843.0K
YoY Change 0.4% -80.43% -80.96%
Interest Expense -$12.70M $16.15M $17.97M
YoY Change -9.29% 7.85% 24.95%
% of Operating Profit -25.15% 1170.36% 2132.03%
Other Income/Expense, Net -$14.63M -$16.94M
YoY Change 1.3% 20.34%
Pretax Income $32.50M $75.50M $35.30M
YoY Change -8.19% 33.87% 4.13%
Income Tax
% Of Pretax Income
Net Earnings $28.53M $71.11M $31.45M
YoY Change -12.86% 31.94% -4.26%
Net Earnings / Revenue 16.07% 39.17% 17.41%
Basic Earnings Per Share $0.28 $0.67 $0.30
Diluted Earnings Per Share $0.28 $0.67 $0.30
COMMON SHARES
Basic Shares Outstanding 98.28M shares
Diluted Shares Outstanding 98.83M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $58.00M $65.00M $388.0M
YoY Change -69.95% -74.1% 1392.31%
Cash & Equivalents $57.65M $64.95M $387.6M
Short-Term Investments
Other Short-Term Assets $55.00M $49.00M $39.00M
YoY Change -22.54% -19.67% -33.9%
Inventory
Prepaid Expenses
Receivables $16.93M $258.0M $13.70M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $376.0M $372.0M $674.0M
YoY Change -24.19% -30.34% 122.44%
LONG-TERM ASSETS
Property, Plant & Equipment $6.193B $6.063B $6.082B
YoY Change 4.59% 9.5% 10.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $21.00M $19.00M $16.00M
YoY Change 40.0% 35.71% 23.08%
Other Assets $193.0M $365.0M $204.0M
YoY Change -29.56% 47.18% -57.76%
Total Long-Term Assets $6.427B $6.466B $6.321B
YoY Change 3.48% 11.52% 5.44%
TOTAL ASSETS
Total Short-Term Assets $376.0M $372.0M $674.0M
Total Long-Term Assets $6.427B $6.466B $6.321B
Total Assets $6.803B $6.838B $6.995B
YoY Change 1.43% 7.99% 11.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $250.0M $271.0M $219.0M
YoY Change 23.76% 7.54% 3.79%
Accrued Expenses
YoY Change
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 $293.0M $314.0M $263.0M
YoY Change -30.9% 8.28% 5.62%
LONG-TERM LIABILITIES
Long-Term Debt $2.347B $2.435B $2.565B
YoY Change 1.16% 9.83% 5.17%
Other Long-Term Liabilities $202.0M $192.0M $204.0M
YoY Change 0.0% 4.92% 11.48%
Total Long-Term Liabilities $2.549B $2.627B $2.769B
YoY Change 1.07% 9.46% 5.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $293.0M $314.0M $263.0M
Total Long-Term Liabilities $2.549B $2.627B $2.769B
Total Liabilities $2.843B $3.148B $3.033B
YoY Change -3.56% 17.02% 5.61%
SHAREHOLDERS EQUITY
Retained Earnings -$122.7M -$132.8M
YoY Change 13.6% -311.98%
Common Stock $986.0K
YoY Change 5.79%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.701B $3.690B $3.756B
YoY Change
Total Liabilities & Shareholders Equity $6.803B $6.838B $6.995B
YoY Change 1.43% 7.99% 11.07%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $28.53M $71.11M $31.45M
YoY Change -12.86% 31.94% -4.26%
Depreciation, Depletion And Amortization $60.20M $62.50M $62.30M
YoY Change 6.17% 10.23% 16.67%
Cash From Operating Activities $70.50M $98.10M $82.00M
YoY Change -23.78% -14.7% 38.05%
INVESTING ACTIVITIES
Capital Expenditures -$173.0M -$130.9M -$112.4M
YoY Change -65.19% 70.66% -41.88%
Acquisitions
YoY Change
Other Investing Activities -$5.400M $166.2M -$17.20M
YoY Change -64.24% 243.39% -185.15%
Cash From Investing Activities -$178.4M $35.30M -$129.6M
YoY Change -65.16% -224.73% -25.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -69.50M -285.0M -42.20M
YoY Change -119.21% 300.84% -139.81%
NET CHANGE
Cash From Operating Activities 70.50M 98.10M 82.00M
Cash From Investing Activities -178.4M 35.30M -129.6M
Cash From Financing Activities -69.50M -285.0M -42.20M
Net Change In Cash -177.4M -151.6M -89.80M
YoY Change 206.92% -1071.79% 1036.71%
FREE CASH FLOW
Cash From Operating Activities $70.50M $98.10M $82.00M
Capital Expenditures -$173.0M -$130.9M -$112.4M
Free Cash Flow $243.5M $229.0M $194.4M
YoY Change -58.69% 19.46% -23.1%

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GainsLossesOnExtinguishmentOfDebt
-5312000 USD
CY2018 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-12623000 USD
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GainsLossesOnSalesOfInvestmentRealEstate
-295000 USD
CY2017 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
449000 USD
CY2018 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
11825000 USD
CY2016 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
57029000 USD
CY2016 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
293788000 USD
CY2017 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
164612000 USD
CY2018 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
258415000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2016 us-gaap Increase Decrease In Operating Assets
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5214000 USD
CY2016 us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
19498000 USD
CY2016 us-gaap Interest Expense
InterestExpense
55803000 USD
CY2016 us-gaap Interest Paid Capitalized
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47675000 USD
CY2017 us-gaap Interest Paid Capitalized
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44757000 USD
CY2018 us-gaap Interest Paid Capitalized
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65627000 USD
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54295000 USD
CY2016 us-gaap Lease And Rental Expense
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3439000 USD
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Liabilities
2842522000 USD
CY2018Q4 us-gaap Liabilities
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3564446000 USD
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6802838000 USD
CY2018Q4 us-gaap Liabilities And Stockholders Equity
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7765707000 USD
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1130000 USD
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259523000 USD
CY2018Q4 us-gaap Minority Interest
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271354000 USD
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MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
3615000 USD
CY2017 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
16542000 USD
CY2018 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
11803000 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
427291000 USD
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-171241000 USD
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
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503108000 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
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-579420000 USD
CY2017 us-gaap Net Cash Provided By Used In Investing Activities
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-359102000 USD
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
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-808915000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
345054000 USD
CY2017 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
347012000 USD
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
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410043000 USD
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293788000 USD
CY2017Q1 us-gaap Net Income Loss
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33525000 USD
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
31448000 USD
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
71110000 USD
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
28529000 USD
CY2017 us-gaap Net Income Loss
NetIncomeLoss
164612000 USD
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
36246000 USD
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
27549000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
34400000 USD
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
160220000 USD
CY2018 us-gaap Net Income Loss
NetIncomeLoss
258415000 USD
CY2016 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
10010000 USD
CY2017 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
16003000 USD
CY2018 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
19511000 USD
CY2016 us-gaap Net Income Loss Available To Common Stockholders Basic
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280538000 USD
CY2017Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
26329000 USD
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
29833000 USD
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
66558000 USD
CY2017Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
28529000 USD
CY2017 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
151249000 USD
CY2018Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
36246000 USD
CY2018Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
27549000 USD
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
34400000 USD
CY2018Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
160220000 USD
CY2018 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
258415000 USD
CY2018Q4 us-gaap Net Rentable Area
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13232580 sqft
CY2016 us-gaap Noncash Or Part Noncash Acquisition Other Liabilities Assumed1
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5863000 USD
CY2016 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
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6635000 USD
CY2016 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
453449000 USD
CY2017 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
54604000 USD
CY2018 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
8273000 USD
CY2016 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
109968000 USD
CY2017 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-25893000 USD
CY2018 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
91848000 USD
CY2016 us-gaap Notes Assumed1
NotesAssumed1
1350000 USD
CY2017 us-gaap Notes Assumed1
NotesAssumed1
0 USD
CY2018 us-gaap Notes Assumed1
NotesAssumed1
0 USD
CY2018 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2016 us-gaap Operating Expenses
OperatingExpenses
448742000 USD
CY2017 us-gaap Operating Expenses
OperatingExpenses
512493000 USD
CY2018 us-gaap Operating Expenses
OperatingExpenses
561220000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
259389000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
233619000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
6278691000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
566783000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
586371000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
620684000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
631835000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
632875000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
3240143000 USD
CY2016 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
3839000 USD
CY2016 us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
111961000 USD
CY2016 us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
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-1902000 USD
CY2016 us-gaap Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
0 USD
CY2016 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
137444000 USD
CY2016 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
2159000 USD
CY2016 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
8875000 USD
CY2016 us-gaap Payments To Acquire Commercial Real Estate
PaymentsToAcquireCommercialRealEstate
393767000 USD
CY2016 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
16100000 USD
CY2017 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
0 USD
CY2018 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
0 USD
CY2016 us-gaap Payments To Acquire Other Real Estate
PaymentsToAcquireOtherRealEstate
33513000 USD
CY2016 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
351012000 USD
CY2016 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
3615000 USD
CY2016 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
13250000 USD
CY2017Q1 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
7196000 USD
CY2017Q2 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
1615000 USD
CY2017Q3 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
4552000 USD
CY2017Q4 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
0 USD
CY2017 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
13363000 USD
CY2018 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
0 USD
CY2016 us-gaap Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
0 USD
CY2016 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
0 USD
CY2018 us-gaap Proceeds From Collection Of Loans Receivable
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15100000 USD
CY2017Q1 us-gaap Proceeds From Issuance Of Common Stock
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308800000 USD
CY2016 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
31117000 USD
CY2016 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
170000000 USD
CY2017 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
0 USD
CY2018 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
0 USD
CY2016 us-gaap Proceeds From Issuance Of Unsecured Debt
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0 USD
CY2016 us-gaap Proceeds From Long Term Lines Of Credit
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305000000 USD
CY2016 us-gaap Proceeds From Minority Shareholders
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453449000 USD
CY2016 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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325031000 USD
CY2016 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
12208000 USD
CY2016 us-gaap Proceeds From Unsecured Notes Payable
ProceedsFromUnsecuredNotesPayable
0 USD
CY2016 us-gaap Profit Loss
ProfitLoss
303798000 USD
CY2017Q1 us-gaap Profit Loss
ProfitLoss
37281000 USD
CY2017Q2 us-gaap Profit Loss
ProfitLoss
35306000 USD
CY2017Q3 us-gaap Profit Loss
ProfitLoss
75488000 USD
CY2017Q4 us-gaap Profit Loss
ProfitLoss
32540000 USD
CY2017 us-gaap Profit Loss
ProfitLoss
180615000 USD
CY2018Q1 us-gaap Profit Loss
ProfitLoss
40971000 USD
CY2018Q2 us-gaap Profit Loss
ProfitLoss
31755000 USD
CY2018Q3 us-gaap Profit Loss
ProfitLoss
38310000 USD
CY2018Q4 us-gaap Profit Loss
ProfitLoss
166890000 USD
CY2018 us-gaap Profit Loss
ProfitLoss
277926000 USD
CY2016 us-gaap Provision For Doubtful Accounts
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0 USD
CY2015Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
994241000 USD
CY2016Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1139853000 USD
CY2017Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1264162000 USD
CY2018Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
1391368000 USD
CY2016 us-gaap Real Estate Accumulated Depreciation Other Deductions
RealEstateAccumulatedDepreciationOtherDeductions
0 USD
CY2017 us-gaap Real Estate Accumulated Depreciation Other Deductions
RealEstateAccumulatedDepreciationOtherDeductions
0 USD
CY2018 us-gaap Real Estate Accumulated Depreciation Other Deductions
RealEstateAccumulatedDepreciationOtherDeductions
0 USD
CY2016 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
22471000 USD
CY2017 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
66206000 USD
CY2018 us-gaap Real Estate Accumulated Depreciation Real Estate Sold
RealEstateAccumulatedDepreciationRealEstateSold
71372000 USD
CY2018Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
6326402000 USD
CY2018Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
2100230000 USD
CY2018Q4 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Improvements
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements
3591149000 USD
CY2018Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
2777476000 USD
CY2018Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
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2058007000 USD
CY2016 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
68200000 USD
CY2017 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
191610000 USD
CY2018 us-gaap Real Estate Cost Of Real Estate Sold
RealEstateCostOfRealEstateSold
286623000 USD
CY2018Q4 us-gaap Real Estate Gross At Carrying Value
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8426632000 USD
CY2016 us-gaap Real Estate Improvements
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386836000 USD
CY2017 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
0 USD
CY2017 us-gaap Real Estate Improvements
RealEstateImprovements
533939000 USD
CY2018 us-gaap Real Estate Improvements
RealEstateImprovements
991008000 USD
CY2015Q4 us-gaap Real Estate Investment Property At Cost
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6328146000 USD
CY2016Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
7060754000 USD
CY2017Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
7417777000 USD
CY2018Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
8426632000 USD
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6153615000 USD
CY2018Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
7035264000 USD
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RealEstateOtherAcquisitions
460957000 USD
CY2017 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
19829000 USD
CY2018 us-gaap Real Estate Other Acquisitions
RealEstateOtherAcquisitions
581671000 USD
CY2016 us-gaap Real Estate Other Deductions
RealEstateOtherDeductions
33792000 USD
CY2017 us-gaap Real Estate Other Deductions
RealEstateOtherDeductions
5135000 USD
CY2018 us-gaap Real Estate Other Deductions
RealEstateOtherDeductions
277201000 USD
CY2016 us-gaap Real Estate Tax Expense
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55206000 USD
CY2016 us-gaap Redeemable Preferred Stock Dividends
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13250000 USD
CY2016 us-gaap Repayments Of Long Term Lines Of Credit
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305000000 USD
CY2016 us-gaap Repayments Of Secured Debt
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74140000 USD
CY2016 us-gaap Repayments Of Unsecured Debt
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0 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents
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696000 USD
CY2016 us-gaap Revenues
Revenues
642572000 USD
CY2017Q1 us-gaap Revenues
Revenues
179308000 USD
CY2017Q2 us-gaap Revenues
Revenues
180598000 USD
CY2017Q3 us-gaap Revenues
Revenues
181534000 USD
CY2017Q4 us-gaap Revenues
Revenues
177561000 USD
CY2017 us-gaap Revenues
Revenues
719001000 USD
CY2018Q1 us-gaap Revenues
Revenues
182822000 USD
CY2018Q2 us-gaap Revenues
Revenues
187072000 USD
CY2018Q3 us-gaap Revenues
Revenues
186562000 USD
CY2018Q4 us-gaap Revenues
Revenues
190842000 USD
CY2018 us-gaap Revenues
Revenues
747298000 USD
CY2016 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
171983000 USD
CY2017 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
190515000 USD
CY2018 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
198578000 USD
CY2017Q4 us-gaap Secured Debt
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300000000 USD
CY2016 us-gaap Share Based Compensation
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21064000 USD
CY2017Q1 us-gaap Shares Issued Price Per Share
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1.90
CY2016 us-gaap Stock Issued1
StockIssued1
48033000 USD
CY2016 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
48033000 USD
CY2016 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
0 USD
CY2018 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
0 USD
CY2016 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
31117000 USD
CY2017 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
326058000 USD
CY2018 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
130693000 USD
CY2016 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2017 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2018 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2016 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1827000 USD
CY2017 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
5890000 USD
CY2018 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
3926000 USD
CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
12208000 USD
CY2017 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
12179000 USD
CY2018 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
41000 USD
CY2016Q1 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
4000000 shares
CY2018Q4 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
4935826 shares
CY2016Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
4988025 shares
CY2016Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
52199 shares
CY2016Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
2900000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
3700793000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
3929907000 USD
CY2015Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3234586000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3759317000 USD
CY2017Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3960316000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4201261000 USD
CY2016 us-gaap Straight Line Rent
StraightLineRent
29629000 USD
CY2016 us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
2322000 USD
CY2017 us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
0 USD
CY2018 us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
0 USD
CY2016Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
55.45
CY2017 us-gaap Variable Interest Entity Number Of Entities With Unavailability Of Information
VariableInterestEntityNumberOfEntitiesWithUnavailabilityOfInformation
2
CY2018 us-gaap Variable Interest Entity Number Of Entities With Unavailability Of Information
VariableInterestEntityNumberOfEntitiesWithUnavailabilityOfInformation
3
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
680551 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
93023034 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92342483 shares
CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Concentration of Credit Risk</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">All of our properties and development and redevelopment projects are owned and all of our business is currently conducted in the state of California with the exception of the ownership and operation of </font><font style="font-family:inherit;font-size:10pt;">eight</font><font style="font-family:inherit;font-size:10pt;">&#160;office properties and </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> development project under construction located in the state of Washington. The ability of tenants to honor the terms of their leases is dependent upon the economic, regulatory, and social factors affecting the communities in which our tenants operate. </font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">December 31, 2018</font><font style="font-family:inherit;font-size:10pt;">, our </font><font style="font-family:inherit;font-size:10pt;">15</font><font style="font-family:inherit;font-size:10pt;"> largest tenants represented approximately </font><font style="font-family:inherit;font-size:10pt;">45.7%</font><font style="font-family:inherit;font-size:10pt;"> of total annualized base rental revenues, of which </font><font style="font-family:inherit;font-size:10pt;">5.9%</font><font style="font-family:inherit;font-size:10pt;"> was attributable to our largest tenant. </font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We have deposited cash with financial institutions that is insured by the Federal Deposit Insurance Corporation (&#8220;FDIC&#8221;) up to </font><font style="font-family:inherit;font-size:10pt;">$250,000</font><font style="font-family:inherit;font-size:10pt;"> per institution. As of </font><font style="font-family:inherit;font-size:10pt;">December 31, 2018</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">2017</font><font style="font-family:inherit;font-size:10pt;">, we had cash accounts in excess of FDIC insured limits. </font></div></div>
CY2018 us-gaap Revenue Recognition Leases Operating
RevenueRecognitionLeasesOperating
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We recognize revenue from rent, tenant reimbursements, parking and other revenue once all of the following criteria are met: (i)&#160;the agreement has been fully executed and delivered, (ii)&#160;services have been rendered, (iii)&#160;the amount is fixed or determinable and (iv)&#160;the collectability of the amount is reasonably assured.</font></div><div style="line-height:120%;padding-left:4px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Minimum annual rental revenues are recognized in rental revenues on a straight-line basis over the non-cancellable term of the related lease. Rental revenue recognition commences when the tenant takes possession or controls the physical use of the leased space. In order for the tenant to take possession, the leased space must be substantially complete and ready for its intended use. In order to determine whether the leased space is substantially ready for its intended use, we begin by determining whether the Company or the tenant owns the tenant improvements. When we conclude that the Company is the owner of tenant improvements, rental revenue recognition begins when the tenant takes possession of the finished space, which is generally when Company owned tenant improvements are substantially complete. In certain instances, when we conclude that the Company is not the owner (the tenant is the owner) of tenant improvements, rental revenue recognition begins when the tenant takes possession of or controls the space.</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">When we conclude that the Company is the owner of tenant improvements, we record the cost to construct the tenant improvements, including costs paid for or reimbursed by the tenants, as a capital asset. For these tenant improvements, we record the amount funded by or reimbursed by the tenants as deferred revenue, which is amortized on a straight-line basis as additional rental income over the term of the related lease.</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">When we conclude that the tenant is the owner of tenant improvements for accounting purposes, we record our contribution towards those improvements as a lease incentive, which is included in deferred leasing costs and acquisition-related intangible assets, net on our consolidated balance sheets and amortized as a reduction to rental income on a straight-line basis over the term of the lease.</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For residential properties, we commence revenue recognition upon lease commencement. Residential rental revenue is recognized on a straight-line basis over the term of the related lease, net of any concessions.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Tenant Reimbursements</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Reimbursements from tenants, consisting of amounts due from tenants for common area maintenance, real estate taxes and other recoverable costs, are recognized as revenue in the period the recoverable costs are incurred. Tenant reimbursements are generally recognized and recorded on a gross basis, as we are generally the primary obligor with respect to purchasing goods and services from third-party suppliers, have discretion in selecting the supplier, and have credit risk.</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Other Property Income</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other property income primarily includes amounts recorded in connection with lease terminations, tenant bankruptcy settlement payments, broken deal income and property damage settlement related payments. Lease termination fees are amortized over the remaining lease term, if applicable. If there is no remaining lease term, they are recognized when received and realized. Other property income also includes miscellaneous income from tenants, such as fees related to the restoration of leased premises to their original condition and fees for late rental payments.</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of 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 at the date of the financial statements and the reported amounts of revenues and expenses during the reported periods. Actual results could differ from those estimates.</font></div></div>

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