$NEN
NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP

2021 Q3 Form 10-Q Financial Statement

#000155837021014969 Filed on November 08, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $15.95M $15.14M
YoY Change 5.31% -0.09%
Cost Of Revenue $7.185M $6.192M
YoY Change 16.04% 1.02%
Gross Profit $8.762M $8.950M
YoY Change -2.11% -0.84%
Gross Profit Margin 54.94% 59.11%
Selling, General & Admin $1.254M $1.110M
YoY Change 12.94% -9.2%
% of Gross Profit 14.31% 12.4%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.957M $4.613M
YoY Change -14.22% 27.17%
% of Gross Profit 45.16% 51.54%
Operating Expenses $12.40M $11.91M
YoY Change 4.04% 8.52%
Operating Profit $3.551M $3.228M
YoY Change 10.03% -22.73%
Interest Expense $3.394M $3.417M
YoY Change -0.7% 13.48%
% of Operating Profit 95.56% 105.88%
Other Income/Expense, Net -$3.627M -$3.667M
YoY Change -1.1% 31.29%
Pretax Income -$75.39K -$439.3K
YoY Change -82.84% -131.74%
Income Tax
% Of Pretax Income
Net Earnings -$75.39K -$439.3K
YoY Change -82.84% -131.74%
Net Earnings / Revenue -0.47% -2.9%
Basic Earnings Per Share
Diluted Earnings Per Share -$619.2K -$3.608M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.62M $16.85M
YoY Change 46.11% 19.1%
Cash & Equivalents $24.62M $16.85M
Short-Term Investments
Other Short-Term Assets $3.138M $2.187M
YoY Change 43.5% -53.33%
Inventory
Prepaid Expenses
Receivables $1.004M $1.125M
Other Receivables $567.9K $503.4K
Total Short-Term Assets $29.33M $20.66M
YoY Change 41.93% 4.28%
LONG-TERM ASSETS
Property, Plant & Equipment $255.1M $267.9M
YoY Change -4.77% 20.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.419M $1.440M
YoY Change -1.44% 0.0%
Other Assets
YoY Change
Total Long-Term Assets $259.6M $272.4M
YoY Change -4.72% 21.7%
TOTAL ASSETS
Total Short-Term Assets $29.33M $20.66M
Total Long-Term Assets $259.6M $272.4M
Total Assets $288.9M $293.1M
YoY Change -1.43% 20.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.301M $3.766M
YoY Change 14.23% 0.2%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $17.00M $17.00M
YoY Change 0.0%
Long-Term Debt Due $2.743M $2.443M
YoY Change 12.28% -47.7%
Total Short-Term Liabilities $24.04M $23.21M
YoY Change 3.6% 175.34%
LONG-TERM LIABILITIES
Long-Term Debt $279.2M $281.5M
YoY Change -0.82% 14.04%
Other Long-Term Liabilities $30.45M $27.72M
YoY Change 9.82% 4.29%
Total Long-Term Liabilities $309.6M $309.2M
YoY Change 0.13% 13.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.04M $23.21M
Total Long-Term Liabilities $309.6M $309.2M
Total Liabilities $333.7M $332.4M
YoY Change 0.38% 17.94%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$44.78M -$39.33M
YoY Change
Total Liabilities & Shareholders Equity $288.9M $293.1M
YoY Change -1.43% 20.28%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$75.39K -$439.3K
YoY Change -82.84% -131.74%
Depreciation, Depletion And Amortization $3.957M $4.613M
YoY Change -14.22% 27.17%
Cash From Operating Activities $3.680M $3.780M
YoY Change -2.65% -1.26%
INVESTING ACTIVITIES
Capital Expenditures -$845.2K -$750.1K
YoY Change 12.68% -14.48%
Acquisitions
YoY Change
Other Investing Activities $162.5K $125.0K
YoY Change 30.0% -82.52%
Cash From Investing Activities -$682.7K -$625.1K
YoY Change 9.22% 285.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.748M -1.703M
YoY Change 2.65% -19.34%
NET CHANGE
Cash From Operating Activities 3.680M 3.780M
Cash From Investing Activities -682.7K -625.1K
Cash From Financing Activities -1.748M -1.703M
Net Change In Cash 1.249M 1.452M
YoY Change -13.98% -6.62%
FREE CASH FLOW
Cash From Operating Activities $3.680M $3.780M
Capital Expenditures -$845.2K -$750.1K
Free Cash Flow $4.525M $4.530M
YoY Change -0.12% -3.73%

Facts In Submission

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26151000
CY2020Q4 nen Cash And Cash Equivalents And Security Deposits Uninsured Amount
CashAndCashEquivalentsAndSecurityDepositsUninsuredAmount
18830000
us-gaap Advertising Expense
AdvertisingExpense
240814
us-gaap Advertising Expense
AdvertisingExpense
257433
CY2021Q3 us-gaap Security Deposit
SecurityDeposit
3000000
CY2020Q4 us-gaap Security Deposit
SecurityDeposit
2830000
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><i style="font-style:italic;">Reclassifications:</i><span style="white-space:pre-wrap;"> Certain reclassifications have been made to prior period amounts in order to conform to current period presentation.</span></p>
CY2021Q3 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
400860235
CY2020Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
398629793
CY2021Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
145746157
CY2020Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
134019906
CY2021Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
255114078
CY2020Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
264609887
nen Related Party Transaction Management Fee As Percentage Of Property Rental Revenue And Laundry Income
RelatedPartyTransactionManagementFeeAsPercentageOfPropertyRentalRevenueAndLaundryIncome
0.04
nen Related Party Transaction Management Fee As Percentage Of Linewt
RelatedPartyTransactionManagementFeeAsPercentageOfLinewt
0.03
nen Related Party Transaction Management Fee
RelatedPartyTransactionManagementFee
1868000
nen Related Party Transaction Management Fee
RelatedPartyTransactionManagementFee
1863000
nen Investments In Number Of Limited Partnerships And Limited Liability Companies
InvestmentsInNumberOfLimitedPartnershipsAndLimitedLiabilityCompanies
7
CY2021Q3 nen Escrow Deposit To Fund Capital Improvements
EscrowDepositToFundCapitalImprovements
1530000
CY2020Q4 nen Escrow Deposit To Fund Capital Improvements
EscrowDepositToFundCapitalImprovements
1073000
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
32000
CY2021Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1386000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
51000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1367000
CY2021Q3 nen Deferred Financing And Leasing Costs Net
DeferredFinancingAndLeasingCostsNet
28000
CY2020Q4 nen Deferred Financing And Leasing Costs Net
DeferredFinancingAndLeasingCostsNet
42000
CY2021Q3 nen Accumulated Amortization On Financing And Leasing Fees
AccumulatedAmortizationOnFinancingAndLeasingFees
34000
CY2020Q4 nen Accumulated Amortization On Financing And Leasing Fees
AccumulatedAmortizationOnFinancingAndLeasingFees
6000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Rolling Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths
2743000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo
102672000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree
10935000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour
3260000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive
24870000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive
138605000
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
283085000
CY2021Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1165000
nen Line Of Credit Facility Unused Capacity Commitment Fee
LineOfCreditFacilityUnusedCapacityCommitmentFee
9000
nen Period For Which Rent To Be Paid In Advance By Tenant
PeriodForWhichRentToBePaidInAdvanceByTenant
P1M
CY2021Q3 nen Prepaid Rent Received Included In Cash And Cash Equivalents
PrepaidRentReceivedIncludedInCashAndCashEquivalents
2042000
CY2021Q3 nen Security Deposit Included In Restricted Cash
SecurityDepositIncludedInRestrictedCash
3000000
CY2021Q1 nen Partners Capital Account Quarterly Distribution Per Unit Of Limited Partner Interest Approved
PartnersCapitalAccountQuarterlyDistributionPerUnitOfLimitedPartnerInterestApproved
9.60
CY2021Q1 nen Partners Capital Account Quarterly Distribution Per Unit Of Limited Partner Interest
PartnersCapitalAccountQuarterlyDistributionPerUnitOfLimitedPartnerInterest
0.32
CY2021Q2 nen Partners Capital Account Quarterly Distribution Per Unit Of Limited Partner Interest Approved
PartnersCapitalAccountQuarterlyDistributionPerUnitOfLimitedPartnerInterestApproved
9.60
CY2021Q2 nen Partners Capital Account Quarterly Distribution Per Unit Of Limited Partner Interest
PartnersCapitalAccountQuarterlyDistributionPerUnitOfLimitedPartnerInterest
0.32
CY2021Q2 nen Partners Capital Account Quarterly Distribution Per Unit Of Limited Partner Interest Approved
PartnersCapitalAccountQuarterlyDistributionPerUnitOfLimitedPartnerInterestApproved
9.60
CY2021Q2 nen Partners Capital Account Quarterly Distribution Per Unit Of Limited Partner Interest
PartnersCapitalAccountQuarterlyDistributionPerUnitOfLimitedPartnerInterest
0.32
CY2020Q1 nen Partners Capital Account Quarterly Distribution Per Depository Receipt
PartnersCapitalAccountQuarterlyDistributionPerDepositoryReceipt
9.60
CY2020Q2 nen Partners Capital Account Quarterly Distribution Per Depository Receipt
PartnersCapitalAccountQuarterlyDistributionPerDepositoryReceipt
9.60
CY2020Q3 nen Partners Capital Account Quarterly Distribution Per Depository Receipt
PartnersCapitalAccountQuarterlyDistributionPerDepositoryReceipt
9.60
CY2020Q4 nen Partners Capital Account Quarterly Distribution Per Depository Receipt
PartnersCapitalAccountQuarterlyDistributionPerDepositoryReceipt
9.60
CY2020Q4 nen Partners Capital Account Quarterly Distribution Per Unit Of Limited Partner Interest
PartnersCapitalAccountQuarterlyDistributionPerUnitOfLimitedPartnerInterest
0.32
nen Depositary Receipts Exhange Ratio For Class Units
DepositaryReceiptsExhangeRatioForClassUnits
30
nen Net Income Loss Per Outstanding Depository Receipt
NetIncomeLossPerOutstandingDepositoryReceipt
0.05
nen Net Income Loss Per Outstanding Depository Receipt
NetIncomeLossPerOutstandingDepositoryReceipt
0.66
CY2021Q3 nen Partners Capital Account Distribution Per Depository Receipt
PartnersCapitalAccountDistributionPerDepositoryReceipt
0.96
CY2020Q3 nen Partners Capital Account Distribution Per Depository Receipt
PartnersCapitalAccountDistributionPerDepositoryReceipt
0.96
CY2021Q3 nen Partners Capital Account Treasury Units Issued
PartnersCapitalAccountTreasuryUnitsIssued
58469
CY2007Q3 nen Partners Capital Account Period For Repurchase Of Depository Receipts
PartnersCapitalAccountPeriodForRepurchaseOfDepositoryReceipts
P12M
CY2007Q3 nen Partners Capital Account Depository Receipts Treasury Receipts Authorized To Be Repurchased
PartnersCapitalAccountDepositoryReceiptsTreasuryReceiptsAuthorizedToBeRepurchased
300000
CY2008Q1 nen Partners Capital Account Depository Receipts Treasury Receipts Authorized To Be Repurchased
PartnersCapitalAccountDepositoryReceiptsTreasuryReceiptsAuthorizedToBeRepurchased
1500000
CY2015Q1 nen Partners Capital Account Depository Receipts Treasury Receipts Authorized To Be Repurchased
PartnersCapitalAccountDepositoryReceiptsTreasuryReceiptsAuthorizedToBeRepurchased
2000000
CY2015Q1 nen Partners Capital Account Period For Repurchase Of Depository Receipts
PartnersCapitalAccountPeriodForRepurchaseOfDepositoryReceipts
P5Y
CY2020Q1 nen Partners Capital Account Period For Repurchase Of Depository Receipts
PartnersCapitalAccountPeriodForRepurchaseOfDepositoryReceipts
P5Y
CY2007Q3 nen Partners Capital Account Depository Receipts Treasury
PartnersCapitalAccountDepositoryReceiptsTreasury
1428437
CY2007Q3 nen Partners Capital Account Depository Receipts Treasury
PartnersCapitalAccountDepositoryReceiptsTreasury
1428437
CY2007Q4 nen Partners Capital Account Depository Receipts Treasury
PartnersCapitalAccountDepositoryReceiptsTreasury
1428437
nen Partners Capital Account Depository Receipts Treasury
PartnersCapitalAccountDepositoryReceiptsTreasury
1428437
nen Partners Capital Account Depository Receipts Treasury
PartnersCapitalAccountDepositoryReceiptsTreasury
1428437
nen Partners Capital Account Depository Receipts Treasury Average Repurchase Price Per Depository Receipt
PartnersCapitalAccountDepositoryReceiptsTreasuryAverageRepurchasePricePerDepositoryReceipt
28.43
us-gaap Partners Capital Account Treasury Units Purchases
PartnersCapitalAccountTreasuryUnitsPurchases
44718000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
410000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
5637000
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
417000
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
383000
nen Operating Leases Percentage Of Rental Income Related To Residential Property And Condominium Units
OperatingLeasesPercentageOfRentalIncomeRelatedToResidentialPropertyAndCondominiumUnits
0.95
nen Operating Leases Noncancelable Maximum Lease Term
OperatingLeasesNoncancelableMaximumLeaseTerm
P1Y
nen Operating Leases Percentage Of Rental Income Related To Commercial Property
OperatingLeasesPercentageOfRentalIncomeRelatedToCommercialProperty
0.05
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
2119000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
1472000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
935000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
460000
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
241000
nen Operating Leases Annual Base Rent For Expiring Leases
OperatingLeasesAnnualBaseRentForExpiringLeases
2578786
nen Operating Leases Square Feet For Expiring Leases
OperatingLeasesSquareFeetForExpiringLeases
108154
nen Operating Leases Number Of Leases Expiring
OperatingLeasesNumberOfLeasesExpiring
49
nen Operating Leases Percentage Of Annual Base Rent For Expiring Leases
OperatingLeasesPercentageOfAnnualBaseRentForExpiringLeases
1
CY2021Q3 nen Operating Leases Allowance For Doubtful Rent Receivable
OperatingLeasesAllowanceForDoubtfulRentReceivable
907000
CY2020Q4 nen Operating Leases Allowance For Doubtful Rent Receivable
OperatingLeasesAllowanceForDoubtfulRentReceivable
1454000
CY2021Q3 nen Operating Leases Rental Income With Future Rental Increases
OperatingLeasesRentalIncomeWithFutureRentalIncreases
94000
CY2021Q3 nen Operating Leases Deferral Of Rental Concession
OperatingLeasesDeferralOfRentalConcession
368000
us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.90
us-gaap Interest Paid Net
InterestPaidNet
9985000
us-gaap Interest Paid Net
InterestPaidNet
9973000
us-gaap Income Taxes Paid
IncomeTaxesPaid
70000
us-gaap Income Taxes Paid
IncomeTaxesPaid
82000
nen Non Cash Financing Activity Related To Acquisition
NonCashFinancingActivityRelatedToAcquisition
2393000
CY2021Q3 us-gaap Secured Debt
SecuredDebt
281919669
CY2021Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
299593793
CY2020Q4 us-gaap Secured Debt
SecuredDebt
283444533
CY2020Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
303993142
CY2020 nen Taxable Income Loss
TaxableIncomeLoss
8578000
CY2020 nen Income Tax Difference Between Statement Income And Taxable Income
IncomeTaxDifferenceBetweenStatementIncomeAndTaxableIncome
7153000
CY2020Q4 nen Income Tax Excess Of Real Estate Statement Basis Over Real Estate Income Tax Basis
IncomeTaxExcessOfRealEstateStatementBasisOverRealEstateIncomeTaxBasis
7332000
CY2020 nen Income Tax Excess Of Investments Statement Basis Over Investments Taxable Basis
IncomeTaxExcessOfInvestmentsStatementBasisOverInvestmentsTaxableBasis
1476000
CY2016Q4 us-gaap Repayments Of Debt
RepaymentsOfDebt
5158000
CY2021Q3 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.0391
CY2021Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0397
us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.50
us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.06
nen Defined Contribution Plan Employee Contributions Vesting Percentage
DefinedContributionPlanEmployeeContributionsVestingPercentage
1
nen Years Of Service Needed For Vesting To Begin
YearsOfServiceNeededForVestingToBegin
P2Y
us-gaap Defined Contribution Plan Employers Matching Contribution Annual Vesting Percentage
DefinedContributionPlanEmployersMatchingContributionAnnualVestingPercentage
0.20
us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
33000

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