2014 Q4 Form 10-Q Financial Statement

#000110465914075327 Filed on October 30, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q4
Revenue $247.6M $235.7M $216.2M
YoY Change 14.52% 16.64% 60.74%
Cost Of Revenue $20.40M $12.80M $13.10M
YoY Change 55.73% 50.59% 114.75%
Gross Profit $227.2M $222.9M $203.1M
YoY Change 11.87% 15.13% 58.05%
Gross Profit Margin 91.76% 94.56% 93.94%
Selling, General & Admin $15.60M $11.00M $16.50M
YoY Change -5.45% -33.73% 60.19%
% of Gross Profit 6.87% 4.93% 8.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $96.60M $95.26M $85.30M
YoY Change 13.25% 17.86% 104.56%
% of Gross Profit 42.52% 42.74% 42.0%
Operating Expenses $110.4M $102.0M $99.30M
YoY Change 11.18% 7.37% 89.87%
Operating Profit $116.8M $120.9M $103.8M
YoY Change 12.52% 22.62% 36.22%
Interest Expense -$60.10M $52.81M -$52.70M
YoY Change 14.04% 5.98% 47.62%
% of Operating Profit -51.46% 43.68% -50.77%
Other Income/Expense, Net -$700.0K -$700.0K -$600.0K
YoY Change 16.67% 75.0%
Pretax Income $79.50M $74.30M $50.40M
YoY Change 57.74% 61.17% 46.09%
Income Tax $1.100M $697.0K $600.0K
% Of Pretax Income 1.38% 0.94% 1.19%
Net Earnings $77.80M $73.28M $64.30M
YoY Change 21.0% 42.1% 64.87%
Net Earnings / Revenue 31.42% 31.09% 29.74%
Basic Earnings Per Share
Diluted Earnings Per Share $347.9K $329.9K $315.8K
COMMON SHARES
Basic Shares Outstanding 222.7M shares 222.1M shares 196.3M shares
Diluted Shares Outstanding 222.2M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.000M $17.00M $10.00M
YoY Change -60.0% 70.0% 100.0%
Cash & Equivalents $4.000M $17.00M $10.00M
Short-Term Investments
Other Short-Term Assets $14.00M $13.00M $12.00M
YoY Change 16.67% 18.18% 33.33%
Inventory
Prepaid Expenses
Receivables $64.00M $48.00M $39.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $82.00M $78.00M $61.00M
YoY Change 34.43% 47.17% 69.44%
LONG-TERM ASSETS
Property, Plant & Equipment $9.782B $9.702B $8.797B
YoY Change 11.2% 11.25% 74.47%
Goodwill $15.54M $15.66M
YoY Change -1.3% -7.58%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $60.00M $52.00M $31.00M
YoY Change 93.55% 18.18% 63.16%
Total Long-Term Assets $10.93B $10.86B $9.863B
YoY Change 10.82% 10.52% 82.88%
TOTAL ASSETS
Total Short-Term Assets $82.00M $78.00M $61.00M
Total Long-Term Assets $10.93B $10.86B $9.863B
Total Assets $11.01B $10.94B $9.924B
YoY Change 10.97% 10.72% 82.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $94.00M $52.00M $72.00M
YoY Change 30.56% 23.81% 46.94%
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 $209.0M $159.0M $181.0M
YoY Change 15.47% 13.57% 50.83%
LONG-TERM LIABILITIES
Long-Term Debt $4.935B $4.762B $4.167B
YoY Change 18.43% 4.68% 45.19%
Other Long-Term Liabilities $227.0M $428.0M $155.0M
YoY Change 46.45% 197.22% 496.15%
Total Long-Term Liabilities $5.162B $5.190B $4.322B
YoY Change 19.44% 10.59% 49.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $209.0M $159.0M $181.0M
Total Long-Term Liabilities $5.162B $5.190B $4.322B
Total Liabilities $5.399B $5.349B $4.503B
YoY Change 19.9% 10.65% 49.28%
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 $5.613B $5.562B $5.385B
YoY Change
Total Liabilities & Shareholders Equity $11.01B $10.94B $9.924B
YoY Change 10.97% 10.72% 82.79%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q4
OPERATING ACTIVITIES
Net Income $77.80M $73.28M $64.30M
YoY Change 21.0% 42.1% 64.87%
Depreciation, Depletion And Amortization $96.60M $95.26M $85.30M
YoY Change 13.25% 17.86% 104.56%
Cash From Operating Activities $187.6M $141.3M $173.2M
YoY Change 8.31% 13.68% 46.78%
INVESTING ACTIVITIES
Capital Expenditures -$153.4M -$178.8M -$145.7M
YoY Change 5.28% -66.93% -60.32%
Acquisitions
YoY Change
Other Investing Activities $32.80M $11.80M $25.10M
YoY Change 30.68% -58.74% -259.87%
Cash From Investing Activities -$120.5M -$167.1M -$120.6M
YoY Change -0.08% -67.36% -68.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -80.20M 33.80M -52.40M
YoY Change 53.05% -90.99% -119.6%
NET CHANGE
Cash From Operating Activities 187.6M 141.3M 173.2M
Cash From Investing Activities -120.5M -167.1M -120.6M
Cash From Financing Activities -80.20M 33.80M -52.40M
Net Change In Cash -13.10M 8.000M 200.0K
YoY Change -6650.0% -164.0% -92.0%
FREE CASH FLOW
Cash From Operating Activities $187.6M $141.3M $173.2M
Capital Expenditures -$153.4M -$178.8M -$145.7M
Free Cash Flow $341.0M $320.1M $318.9M
YoY Change 6.93% -51.86% -34.27%

Facts In Submission

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dei Entity Registrant Name
EntityRegistrantName
REALTY INCOME CORP
dei Entity Central Index Key
EntityCentralIndexKey
0000726728
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
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CY2014Q3 us-gaap Preferred Stock Shares Authorized
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CY2014Q3 us-gaap Preferred Stock Shares Issued
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CY2014Q3 us-gaap Preferred Stock Shares Outstanding
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CY2013Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
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CY2014Q3 us-gaap Commitments And Contingencies
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CY2014Q3 us-gaap Depreciation Depletion And Amortization
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DepreciationDepletionAndAmortization
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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us-gaap Depreciation Depletion And Amortization
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CY2014Q3 us-gaap Interest Expense
InterestExpense
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CY2013Q3 us-gaap Interest Expense
InterestExpense
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us-gaap Interest Expense
InterestExpense
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us-gaap Interest Expense
InterestExpense
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CY2014Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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GeneralAndAdministrativeExpense
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us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2014Q3 o Direct Costs Of Leased And Rented Property Or Equipment Including Reimbursable Expense
DirectCostsOfLeasedAndRentedPropertyOrEquipmentIncludingReimbursableExpense
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CY2013Q3 o Direct Costs Of Leased And Rented Property Or Equipment Including Reimbursable Expense
DirectCostsOfLeasedAndRentedPropertyOrEquipmentIncludingReimbursableExpense
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o Direct Costs Of Leased And Rented Property Or Equipment Including Reimbursable Expense
DirectCostsOfLeasedAndRentedPropertyOrEquipmentIncludingReimbursableExpense
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CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
569000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2358000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1770000 USD
CY2014Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
495000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
2676000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
290000 USD
CY2013Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
240000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
12875000 USD
CY2014Q3 o Expenses Including Income Tax Expense
ExpensesIncludingIncomeTaxExpense
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ExpensesIncludingIncomeTaxExpense
156573000 USD
o Expenses Including Income Tax Expense
ExpensesIncludingIncomeTaxExpense
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o Expenses Including Income Tax Expense
ExpensesIncludingIncomeTaxExpense
433226000 USD
CY2014Q3 o Gain On Sale Of Properties Continuing Operations
GainOnSaleOfPropertiesContinuingOperations
10975000 USD
o Gain On Sale Of Properties Continuing Operations
GainOnSaleOfPropertiesContinuingOperations
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CY2014Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
73627000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
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CY2014Q3 us-gaap Profit Loss
ProfitLoss
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ProfitLoss
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us-gaap Profit Loss
ProfitLoss
193863000 USD
us-gaap Profit Loss
ProfitLoss
181650000 USD
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NetIncomeLossAttributableToNoncontrollingInterest
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NetIncomeLossAttributableToNoncontrollingInterest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
422000 USD
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NetIncomeLoss
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NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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NetIncomeLoss
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CY2014Q3 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
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PreferredStockDividendsIncomeStatementImpact
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PreferredStockDividendsIncomeStatementImpact
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PreferredStockDividendsIncomeStatementImpact
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NetIncomeLossAvailableToCommonStockholdersBasic
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NetIncomeLossAvailableToCommonStockholdersBasic
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NetIncomeLossAvailableToCommonStockholdersBasic
156540000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2014Q3 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.26
CY2013Q3 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.18
us-gaap Preferred Stock Redemption Premium
PreferredStockRedemptionPremium
6015000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
750000000 USD
us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.71
us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
0.53
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EarningsPerShareBasicAndDiluted
0.26
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EarningsPerShareBasicAndDiluted
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EarningsPerShareBasicAndDiluted
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us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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us-gaap Adjustments Noncash Items To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
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us-gaap Adjustments Noncash Items To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
6959000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
8027000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
6682000 USD
us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
490000 USD
us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
4809000 USD
us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
820000 USD
us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
-12420000 USD
us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
4538000 USD
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
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o Proceeds From Sale Of Real Estate Not Qualifying For Discontinued Operations Reporting
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o Proceeds From Sale Of Real Estate Qualifying For Discontinued Operations Reporting
ProceedsFromSaleOfRealEstateQualifyingForDiscontinuedOperationsReporting
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us-gaap Payments To Acquire Mortgage Notes Receivable
PaymentsToAcquireMortgageNotesReceivable
-350000 USD
us-gaap Payments To Acquire Mortgage Notes Receivable
PaymentsToAcquireMortgageNotesReceivable
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us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
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us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
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us-gaap Payments Of Dividends Common Stock
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PaymentsOfDividendsPreferredStockAndPreferenceStock
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us-gaap Proceeds From Long Term Lines Of Credit
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ProceedsFromLongTermLinesOfCredit
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us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
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RepaymentsOfLongTermLinesOfCredit
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us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
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RepaymentsOfNotesPayable
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us-gaap Repayments Of First Mortgage Bond
RepaymentsOfFirstMortgageBond
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RepaymentsOfFirstMortgageBond
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ProceedsFromIssuanceOfDebt
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RepaymentsOfLinesOfCredit
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RepaymentsOfDebt
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ProceedsFromIssuanceOfCommonStock
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ProceedsFromIssuanceOfCommonStock
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us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
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us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
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us-gaap Payments Of Debt Issuance Costs
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us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
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o Proceeds From Dividend Reinvestment And Stock Purchase Plan Net
ProceedsFromDividendReinvestmentAndStockPurchasePlanNet
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o Proceeds From Dividend Reinvestment And Stock Purchase Plan Net
ProceedsFromDividendReinvestmentAndStockPurchasePlanNet
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us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
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us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
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CY2013Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
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CashEquivalentsAtCarryingValue
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o Real Estate Acquired In Exchange Of Properties
RealEstateAcquiredInExchangeOfProperties
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o Real Estate Properties Acquired Interest Rate Swap
RealEstatePropertiesAcquiredInterestRateSwap
901000 USD

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