2023 Q4 Form 10-Q Financial Statement

#000091224223000026 Filed on November 06, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $238.7M $218.2M
YoY Change 4.58% 3.53%
Cost Of Revenue $98.37M $101.6M
YoY Change 1.09% 1.65%
Gross Profit $140.3M $116.5M
YoY Change 7.18% 5.19%
Gross Profit Margin 58.79% 53.4%
Selling, General & Admin $7.546M $5.900M
YoY Change 6.55% -12.97%
% of Gross Profit 5.38% 5.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $69.77M $74.40M
YoY Change -8.62% -1.3%
% of Gross Profit 49.72% 63.86%
Operating Expenses $77.31M $76.70M
YoY Change -4.13% -3.54%
Operating Profit $63.01M $39.80M
YoY Change 25.33% 27.42%
Interest Expense -$6.115M -$160.9M
YoY Change -87.26% -405.72%
% of Operating Profit -9.7% -404.27%
Other Income/Expense, Net
YoY Change
Pretax Income $65.81M -$270.3M
YoY Change 1954.03% 1877.61%
Income Tax -$655.0K $1.672M
% Of Pretax Income -1.0%
Net Earnings $62.18M -$262.5M
YoY Change 4115.53% 1628.08%
Net Earnings / Revenue 26.05% -120.35%
Basic Earnings Per Share -$1.22
Diluted Earnings Per Share $0.29 -$1.22
COMMON SHARES
Basic Shares Outstanding 215.4M shares 215.3M shares
Diluted Shares Outstanding 215.6M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $94.94M $112.0M
YoY Change -5.37% 1.83%
Cash & Equivalents $94.94M $111.8M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $188.2M $159.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $283.2M $271.0M
YoY Change -1.41% -6.39%
LONG-TERM ASSETS
Property, Plant & Equipment $6.019B $6.070B
YoY Change -3.76% -3.56%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $852.8M $918.5M
YoY Change -30.35% -23.72%
Other Assets $358.4M $119.0M
YoY Change 9.2% 52.88%
Total Long-Term Assets $7.230B $7.317B
YoY Change -7.39% -5.94%
TOTAL ASSETS
Total Short-Term Assets $283.2M $271.0M
Total Long-Term Assets $7.230B $7.317B
Total Assets $7.514B $7.588B
YoY Change -7.17% -5.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $64.19M $74.00M
YoY Change 1.72% 12.24%
Accrued Expenses $418.7M $337.0M
YoY Change 1.23% -1.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $482.9M $411.0M
YoY Change 1.29% 0.72%
LONG-TERM LIABILITIES
Long-Term Debt $4.328B $4.433B
YoY Change -4.81% -1.43%
Other Long-Term Liabilities $174.8M $245.0M
YoY Change 44.34% 32.35%
Total Long-Term Liabilities $4.503B $4.678B
YoY Change -3.54% -0.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $482.9M $411.0M
Total Long-Term Liabilities $4.503B $4.678B
Total Liabilities $5.066B $5.090B
YoY Change -1.52% -0.02%
SHAREHOLDERS EQUITY
Retained Earnings -$3.064B -$3.089B
YoY Change 15.92% 18.44%
Common Stock $5.512B $5.521B
YoY Change 0.06% 0.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.447B $2.432B
YoY Change
Total Liabilities & Shareholders Equity $7.514B $7.588B
YoY Change -7.17% -5.96%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $62.18M -$262.5M
YoY Change 4115.53% 1628.08%
Depreciation, Depletion And Amortization $69.77M $74.40M
YoY Change -8.62% -1.3%
Cash From Operating Activities $49.40M $107.4M
YoY Change -5.94% -36.66%
INVESTING ACTIVITIES
Capital Expenditures $25.75M $13.40M
YoY Change 29.21% -133.88%
Acquisitions
YoY Change
Other Investing Activities $45.99M -$13.20M
YoY Change -263.53% -137.63%
Cash From Investing Activities $20.24M -$26.60M
YoY Change -142.12% 495.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -87.49M -57.40M
YoY Change -848.14% -63.8%
NET CHANGE
Cash From Operating Activities 49.40M 107.4M
Cash From Investing Activities 20.24M -26.60M
Cash From Financing Activities -87.49M -57.40M
Net Change In Cash -17.84M 23.40M
YoY Change -210.4% 258.29%
FREE CASH FLOW
Cash From Operating Activities $49.40M $107.4M
Capital Expenditures $25.75M $13.40M
Free Cash Flow $23.65M $94.00M
YoY Change -27.43% -55.05%

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us-gaap Lease Income
LeaseIncome
589003000 usd
us-gaap Lease Income
LeaseIncome
587596000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Rolling Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextRollingTwelveMonths
407380000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Rolling Year Two
LessorOperatingLeasePaymentsToBeReceivedRollingYearTwo
340531000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Rolling Year Three
LessorOperatingLeasePaymentsToBeReceivedRollingYearThree
275457000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Rolling Year Four
LessorOperatingLeasePaymentsToBeReceivedRollingYearFour
211498000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Rolling Year Five
LessorOperatingLeasePaymentsToBeReceivedRollingYearFive
160525000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received After Rolling Year Five
LessorOperatingLeasePaymentsToBeReceivedAfterRollingYearFive
545805000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1941196000 usd
mac Finance Lease Number Of Leases
FinanceLeaseNumberOfLeases
5 lease
us-gaap Operating Lease Cost
OperatingLeaseCost
10346000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
11338000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1456000 usd
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1446000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
341000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
402000 usd
us-gaap Lease Cost
LeaseCost
12143000 usd
us-gaap Lease Cost
LeaseCost
13186000 usd
CY2023Q3 mac Lessee Operating Lease Liability Payments Due In Rolling Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsDueInRollingRemainderOfFiscalYear
3173000 usd
CY2023Q3 mac Finance Lease Liability Payments Due In Rolling Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsDueInRollingRemainderOfFiscalYear
2450000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
12255000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
2450000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
11391000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due In Next Rolling Twelve Months
FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths
9478000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
11563000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
9478000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
11574000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due In Rolling Year Two
FinanceLeaseLiabilityPaymentsDueInRollingYearTwo
1400000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
11746000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
1400000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
11691000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due In Rolling Year Three
FinanceLeaseLiabilityPaymentsDueInRollingYearThree
0 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
11864000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
11862000 usd
CY2023Q3 us-gaap Finance Lease Liability Payments Due In Rolling Year Four
FinanceLeaseLiabilityPaymentsDueInRollingYearFour
0 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
12035000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0 usd
CY2023Q3 mac Lessee Operating Lease Liability Payments Due After Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFour
83083000 usd
CY2023Q3 mac Finance Lease Liability Payments Due In Rolling After Year Four
FinanceLeaseLiabilityPaymentsDueInRollingAfterYearFour
0 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
109158000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
168621000 usd
CY2022Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
13328000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
86315000 usd
CY2022Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
723000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
82306000 usd
CY2022Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
12605000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P32Y3M18D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y8M12D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.074
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.037
CY2023Q3 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
90413000 usd
CY2022Q4 us-gaap Deferred Costs Leasing Gross
DeferredCostsLeasingGross
113400000 usd
CY2023Q3 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
63091000 usd
CY2022Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
63961000 usd
CY2023Q3 mac Finite Lived Intangible Asset Leasing Commissions And Legal Costs
FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts
17866000 usd
CY2022Q4 mac Finite Lived Intangible Asset Leasing Commissions And Legal Costs
FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts
17299000 usd
CY2023Q3 mac Finite Lived Intangible Asset Above Market Leases
FiniteLivedIntangibleAssetAboveMarketLeases
66002000 usd
CY2022Q4 mac Finite Lived Intangible Asset Above Market Leases
FiniteLivedIntangibleAssetAboveMarketLeases
71304000 usd
CY2023Q3 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
22952000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
23114000 usd
CY2023Q3 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
57799000 usd
CY2022Q4 us-gaap Deferred Compensation Plan Assets
DeferredCompensationPlanAssets
54353000 usd
CY2023Q3 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
44172000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
66188000 usd
CY2023Q3 mac Deferred Costs And Other Assets Gross
DeferredCostsAndOtherAssetsGross
362295000 usd
CY2022Q4 mac Deferred Costs And Other Assets Gross
DeferredCostsAndOtherAssetsGross
409619000 usd
CY2023Q3 mac Accumulated Amortization Deferred Costs And Finite Lived Intangible Assets
AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets
130192000 usd
CY2022Q4 mac Accumulated Amortization Deferred Costs And Finite Lived Intangible Assets
AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets
162195000 usd
CY2023Q3 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
232103000 usd
CY2022Q4 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
247424000 usd
CY2023Q3 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
89238000 usd
CY2022Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
97026000 usd
CY2023Q3 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
39130000 usd
CY2022Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
40797000 usd
CY2023Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
50108000 usd
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
56229000 usd
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
4166335000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
4240596000 usd
CY2023Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
23023000 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
13830000 usd
CY2023Q3 mac Financing Arrangement Terminal Capitalization Rate
FinancingArrangementTerminalCapitalizationRate
0.0650
CY2022Q4 mac Financing Arrangement Terminal Capitalization Rate
FinancingArrangementTerminalCapitalizationRate
0.0625
CY2023Q3 mac Financing Arrangement Discount Rate
FinancingArrangementDiscountRate
0.0825
CY2022Q4 mac Financing Arrangement Discount Rate
FinancingArrangementDiscountRate
0.0775
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
mac Minority Interest Redemption Value Basis Number Of Trading Days
MinorityInterestRedemptionValueBasisNumberOfTradingDays
P10D
CY2023Q3 mac Minority Interest Redemption Value
MinorityInterestRedemptionValue
102092000 usd
CY2022Q4 mac Minority Interest Redemption Value
MinorityInterestRedemptionValue
103023000 usd
CY2017Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
500000000 usd
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2023Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
41031000 usd
CY2023Q3 us-gaap Construction Payable Current
ConstructionPayableCurrent
7128000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1205000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5368000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13224000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16815000 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
190000 usd
CY2022Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
1101000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
2344000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3395000 usd
CY2023Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 usd
CY2022Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 usd
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0 usd
CY2023Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1672000 usd
CY2022Q3 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-166000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
161000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
963000 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1672000 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-166000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
161000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
963000 usd
CY2023Q3 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
22952000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
23114000 usd
CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0 usd
mac Number Of Real Estate Management Companies
NumberOfRealEstateManagementCompanies
7 entity
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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mac-20230930.htm Edgar Link pending
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mac-20230930x10qexhibit311.htm Edgar Link pending
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mac-20230930_htm.xml Edgar Link completed
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