2019 Q1 Form 10-K Financial Statement

#000145293619000003 Filed on March 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2017 Q4 2017 Q3
Revenue $21.91M $26.07M $36.41M
YoY Change 11.59% -27.35% 0.78%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.681M $13.23M
YoY Change 5.73% -7.74%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit $25.89M
YoY Change -254.25%
Interest Expense $7.200M $9.600M
YoY Change 9.24% 20.12%
% of Operating Profit 27.81%
Other Income/Expense, Net
YoY Change
Pretax Income -$10.54M
YoY Change
Income Tax $2.000K
% Of Pretax Income
Net Earnings $16.78M $206.4M -$10.53M
YoY Change -170.86% -3001.66% -29.54%
Net Earnings / Revenue 76.59% 791.9% -28.93%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding 66.81M shares 52.11M shares 56.63M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q1 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $142.8M $366.5M $97.49M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $944.5M $1.102B $1.344B
YoY Change -15.81% -15.92% 2.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $635.4M $836.1M $1.055B
YoY Change -12.22% -17.59% 7.48%
SHAREHOLDERS EQUITY
Retained Earnings -$240.8M -$155.5M -$174.0M
YoY Change 57.84% -4.21% 16.13%
Common Stock $666.0K $521.0K $568.0K
YoY Change 2.94% -8.27% -0.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $307.7M $259.0M $235.5M
YoY Change
Total Liabilities & Shareholders Equity $944.5M $1.102B $1.344B
YoY Change -15.81% -15.92% 2.93%

Cashflow Statement

Concept 2019 Q1 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income $16.78M $206.4M -$10.53M
YoY Change -170.86% -3001.66% -29.54%
Depreciation, Depletion And Amortization $7.681M $13.23M
YoY Change 5.73% -7.74%
Cash From Operating Activities -$7.573M
YoY Change 51.07%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $49.43M
YoY Change -119.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.539M
YoY Change -44.92%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$54.40M
YoY Change -223.84%
NET CHANGE
Cash From Operating Activities -$7.573M
Cash From Investing Activities $49.43M
Cash From Financing Activities -$54.40M
Net Change In Cash -$10.45M
YoY Change -95.18%
FREE CASH FLOW
Cash From Operating Activities -$7.573M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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4400000 USD
CY2018 us-gaap Amortization Of Financing Costs
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3640000 USD
CY2018 us-gaap Amortization Of Financing Costs
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3600000 USD
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0 shares
CY2017 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0 shares
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17751000 USD
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10859000 USD
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90063000 USD
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73876000 USD
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0 USD
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0 USD
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1315000 USD
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510000 USD
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548000 USD
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611000 USD
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5005000 USD
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543000 USD
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0 USD
CY2018 us-gaap Business Combination Acquisition Related Costs
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0 USD
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28865000 USD
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64450000 USD
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377182000 USD
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162727000 USD
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35585000 USD
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312732000 USD
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0.38
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0.092
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0.093
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0.095
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3.610
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3.89
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0.016
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0.016
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0.016
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2.95
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2.998000
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0.01
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1000000000 shares
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1000000000 shares
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0.01
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3100000 USD
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1700000 USD
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41906000 USD
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220994 shares
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521000 USD
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668000 USD
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500000 USD
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235790000 USD
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33546000 USD
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-29126000 USD
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235726000 USD
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33324000 USD
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0.229
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42611000 USD
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29110000 USD
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161986000 USD
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182577000 USD
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115600000 USD
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2472000 USD
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332893000 USD
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403802000 USD
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137000 USD
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198000 USD
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8788000 USD
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8044000 USD
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5000000 USD
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9800000 USD
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52051000 USD
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53446000 USD
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35006000 USD
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0 USD
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255935000 USD
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80594000 USD
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21844000 USD
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203809000 USD
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162694000 USD
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187914000 USD
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0 USD
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26000 USD
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36000 USD
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0.42
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3.88
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3.77
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0.16
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0.67
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0.19
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0.57
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3549000 USD
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611000 USD
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0 USD
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2000000 USD
CY2018 us-gaap Escrow Deposit Disbursements Related To Property Acquisition1
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0 USD
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10141000 USD
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0 USD
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-478000 USD
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5761000 USD
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5983000 USD
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7784000 USD
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17500000 USD
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13000000 USD
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0 USD
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0 USD
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0 USD
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600000 USD
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1300000 USD
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210735000 USD
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33760000 USD
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0 USD
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2073000 USD
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428000 USD
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20000 USD
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155000 USD
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436000 USD
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5809000 USD
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3387000 USD
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2128000 USD
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1810000 USD
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1801000 USD
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10000 USD
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2465000 USD
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8498000 USD
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5995000 USD
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7375000 USD
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2926000 USD
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1184000 USD
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1258000 USD
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1782000 USD
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2018000 USD
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2531000 USD
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2500000 USD
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6000000 USD
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6002000 USD
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3655000 USD
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0 USD
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0 USD
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2000000 USD
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2025000 USD
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2339000 USD
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2300000 USD
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2565000 USD
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2600000 USD
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37149000 USD
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31054000 USD
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20759000 USD
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32688000 USD
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27029000 USD
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5100000 USD
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5200000 USD
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44000 USD
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1105000 USD
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1884000 USD
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1101574000 USD
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102469000 USD
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1004989000 USD
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5155000 USD
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52158000 USD
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26656000 USD
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13432000 USD
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2143000 USD
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23846000 USD
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127155000 USD
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272311000 USD
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104070000 USD
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1970000 USD
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2510000 USD
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80000 USD
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22000 USD
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311875000 USD
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206424000 USD
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210644000 USD
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10036000 USD
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36497000 USD
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10694000 USD
CY2018 us-gaap Net Income Loss
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33546000 USD
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-208000 USD
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-64000 USD
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-222000 USD
CY2017Q4 us-gaap Off Market Lease Unfavorable
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2582000 USD
CY2018Q4 us-gaap Off Market Lease Unfavorable
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5005000 USD
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable
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329032000 USD
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11762000 USD
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0 USD
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48994000 USD
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32661000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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75500000 USD
CY2016 us-gaap Stock Issued During Period Value New Issues
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12616000 USD
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CY2018 us-gaap Stock Issued During Period Value Stock Dividend
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275400000 USD
CY2016 us-gaap Stock Redeemed Or Called During Period Value
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CY2017Q4 us-gaap Stockholders Equity
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CY2016 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2017 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2018 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2018 us-gaap Prior Period Reclassification Adjustment Description
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain amounts in the Company&#8217;s prior period consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations of the prior period. During the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">, the Company disposed of </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> office building and </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> office/flex/industrial portfolio consisting of </font><font style="font-family:inherit;font-size:10pt;">21</font><font style="font-family:inherit;font-size:10pt;"> buildings and classified </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> apartment property as held for sale. As a result, certain assets and liabilities were reclassified to held for sale on the consolidated balance sheets for all periods presented.</font></div></div>
CY2018 us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. </font></div></div>

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