2023 Q3 Form 10-Q Financial Statement

#000160062623000129 Filed on August 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $61.71M $62.54M $123.1M
YoY Change -39.1% -49.18% 3.58%
Cost Of Revenue $8.500M $7.690M $15.80M
YoY Change -42.09% -51.33% -3.66%
Gross Profit $53.20M $54.85M $107.3M
YoY Change -38.6% -48.88% 4.79%
Gross Profit Margin 86.21% 87.7% 87.18%
Selling, General & Admin $14.70M $17.58M $20.20M
YoY Change -24.65% -13.0% 1.51%
% of Gross Profit 27.63% 32.04% 18.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.30M $30.84M $60.40M
YoY Change -83.84% -48.93% 9.03%
% of Gross Profit 47.56% 56.23% 56.29%
Operating Expenses $48.26M $453.1M $171.6M
YoY Change -44.86% 164.1% 87.64%
Operating Profit $13.45M -$390.6M -$48.49M
YoY Change -2.63% 705.43% -277.04%
Interest Expense $16.13M $16.07M $22.37M
YoY Change -33.59% -28.16% 4.07%
% of Operating Profit 119.86%
Other Income/Expense, Net $3.700M $2.747M -$200.0K
YoY Change 4057.3% -1473.5% -300.0%
Pretax Income -$139.9M -$452.4M -$76.60M
YoY Change 17.2% 490.6% -1443.86%
Income Tax
% Of Pretax Income
Net Earnings -$127.6M -$416.5M -$72.21M
YoY Change 14.72% 476.78% -2520.62%
Net Earnings / Revenue -206.76% -665.94% -58.67%
Basic Earnings Per Share -$3.55 -$11.59 -$2.00
Diluted Earnings Per Share -$3.55 -$11.59 -$2.00
COMMON SHARES
Basic Shares Outstanding 35.98M shares 35.95M shares 36.08M shares
Diluted Shares Outstanding 35.98M shares 35.92M shares 36.08M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $364.4M $360.6M $202.7M
YoY Change 380.5% 77.91% 51.27%
Cash & Equivalents $364.4M $360.6M $222.3M
Short-Term Investments
Other Short-Term Assets $29.00M $29.46M $39.00M
YoY Change -17.96% -24.47% 40.79%
Inventory
Prepaid Expenses
Receivables $63.90M $63.05M $111.5M
Other Receivables $0.00 $0.00 $200.0K
Total Short-Term Assets $457.3M $453.1M $353.4M
YoY Change 137.48% 28.22% 32.41%
LONG-TERM ASSETS
Property, Plant & Equipment $2.195B $2.223B $4.435B
YoY Change -31.42% -49.87% -5.97%
Goodwill $94.68M $94.68M
YoY Change -58.83%
Intangibles $30.57M $31.32M
YoY Change -13.35%
Long-Term Investments $0.00 $146.4M
YoY Change -100.0%
Other Assets $22.70M $20.47M $68.50M
YoY Change -40.75% -70.11% -10.1%
Total Long-Term Assets $2.383B $2.557B $4.796B
YoY Change -36.32% -46.68% -5.39%
TOTAL ASSETS
Total Short-Term Assets $457.3M $453.1M $353.4M
Total Long-Term Assets $2.383B $2.557B $4.796B
Total Assets $2.840B $3.010B $5.149B
YoY Change -27.81% -41.54% -3.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.10M $19.81M $110.8M
YoY Change -83.64% -82.12% 9.27%
Accrued Expenses $72.20M $71.03M $52.20M
YoY Change 54.94% 36.08% 3.16%
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 $106.2M $108.7M $176.8M
YoY Change -26.98% -38.51% 1.73%
LONG-TERM LIABILITIES
Long-Term Debt $1.442B $1.461B $2.529B
YoY Change -3.01% -42.25% -0.31%
Other Long-Term Liabilities $46.60M $46.15M $35.80M
YoY Change 54.62% 28.9% -57.33%
Total Long-Term Liabilities $1.489B $1.507B $2.565B
YoY Change -1.87% -41.26% -2.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $106.2M $108.7M $176.8M
Total Long-Term Liabilities $1.489B $1.507B $2.565B
Total Liabilities $1.595B $1.615B $2.952B
YoY Change -4.06% -45.28% 5.63%
SHAREHOLDERS EQUITY
Retained Earnings -$808.0M -$680.4M
YoY Change 1856.66%
Common Stock $36.00K $36.00K
YoY Change -88.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.129B $1.259B $2.197B
YoY Change
Total Liabilities & Shareholders Equity $2.840B $3.010B $5.149B
YoY Change -27.81% -41.54% -3.5%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$127.6M -$416.5M -$72.21M
YoY Change 14.72% 476.78% -2520.62%
Depreciation, Depletion And Amortization $25.30M $30.84M $60.40M
YoY Change -83.84% -48.93% 9.03%
Cash From Operating Activities $34.00M $2.514M $59.50M
YoY Change -74.88% -95.77% 2.23%
INVESTING ACTIVITIES
Capital Expenditures $7.400M $873.0K $3.500M
YoY Change -46.04% -75.06% -70.59%
Acquisitions
YoY Change
Other Investing Activities $8.000M $125.0M -$100.0K
YoY Change -99.14% -125147.0% -100.42%
Cash From Investing Activities $600.0K $124.2M -$3.700M
YoY Change -99.93% -3456.05% -131.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -28.20M -133.2M -36.80M
YoY Change -97.56% 262.04% 3.37%
NET CHANGE
Cash From Operating Activities 34.00M 2.514M 59.50M
Cash From Investing Activities 600.0K 124.2M -3.700M
Cash From Financing Activities -28.20M -133.2M -36.80M
Net Change In Cash 6.400M -6.541M 19.00M
YoY Change -106.51% -134.43% -44.61%
FREE CASH FLOW
Cash From Operating Activities $34.00M $2.514M $59.50M
Capital Expenditures $7.400M $873.0K $3.500M
Free Cash Flow $26.60M $1.641M $56.00M
YoY Change -78.13% -97.07% 20.95%

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RepaymentsOfUnsecuredDebt
0 usd
gcnl Principal Amortization Payments On Secured Indebtedness
PrincipalAmortizationPaymentsOnSecuredIndebtedness
3643000 usd
gcnl Principal Amortization Payments On Secured Indebtedness
PrincipalAmortizationPaymentsOnSecuredIndebtedness
4605000 usd
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
2580000 usd
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
375000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
9000 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
23000 usd
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
125000000 usd
us-gaap Payments For Repurchase Of Redeemable Preferred Stock
PaymentsForRepurchaseOfRedeemablePreferredStock
0 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4443000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
2401000 usd
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
5553000 usd
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
4891000 usd
us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
5031000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
24551000 usd
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
56777000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
215000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
221000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1450000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
459000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-188196000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-73044000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
125724000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
36153000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
237944000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
186140000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
363668000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
222293000 usd
us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
-295000 usd
us-gaap Change In Unrealized Gain Loss On Fair Value Hedging Instruments1
ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1
43620000 usd
gcnl Accrued Tenant Obligations During Period
AccruedTenantObligationsDuringPeriod
7008000 usd
gcnl Accrued Tenant Obligations During Period
AccruedTenantObligationsDuringPeriod
6552000 usd
gcnl Increase Decrease In Distributions Payable To Common Stockholders
IncreaseDecreaseInDistributionsPayableToCommonStockholders
8121000 usd
gcnl Increase Decrease In Distributions Payable To Common Stockholders
IncreaseDecreaseInDistributionsPayableToCommonStockholders
9361000 usd
gcnl Increase Decrease In Distributions Payable Non Controlling Interest
IncreaseDecreaseInDistributionsPayableNonControllingInterest
795000 usd
gcnl Increase Decrease In Distributions Payable Non Controlling Interest
IncreaseDecreaseInDistributionsPayableNonControllingInterest
915000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1358000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1358000 usd
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
286000 usd
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
1545000 usd
gcnl Capitalized Transaction Costs Paid In Prior Period
CapitalizedTransactionCostsPaidInPriorPeriod
0 usd
gcnl Capitalized Transaction Costs Paid In Prior Period
CapitalizedTransactionCostsPaidInPriorPeriod
2130000 usd
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
us-gaap Use Of Estimates
UseOfEstimates
The preparation of the unaudited consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
406272 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
291607 shares
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
177877 shares
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2023Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
73 real_estate_property
CY2023Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
24 state
CY2023Q2 gcnl Asset Acquisition Consideration
AssetAcquisitionConsideration
3100000000 usd
us-gaap Depreciation
Depreciation
39600000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
22200000 usd
CY2023Q2 gcnl In Place Lease Valuation Above Market
InPlaceLeaseValuationAboveMarket
23438000 usd
CY2022Q4 gcnl In Place Lease Valuation Above Market
InPlaceLeaseValuationAboveMarket
28619000 usd
CY2023Q2 gcnl In Place Lease Valuation Above Market Accumulated Amortization
InPlaceLeaseValuationAboveMarketAccumulatedAmortization
16424000 usd
CY2022Q4 gcnl In Place Lease Valuation Above Market Accumulated Amortization
InPlaceLeaseValuationAboveMarketAccumulatedAmortization
19799000 usd
CY2023Q2 gcnl In Place Lease Valuation Above Market Net
InPlaceLeaseValuationAboveMarketNet
7014000 usd
CY2022Q4 gcnl In Place Lease Valuation Above Market Net
InPlaceLeaseValuationAboveMarketNet
8820000 usd
CY2023Q2 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
32028000 usd
CY2022Q4 us-gaap Other Finite Lived Intangible Assets Gross
OtherFiniteLivedIntangibleAssetsGross
32028000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
7727000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
6987000 usd
CY2023Q2 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
24301000 usd
CY2022Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
25041000 usd
CY2023Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
31315000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
33861000 usd
CY2023Q2 gcnl In Place Lease Valuation Below Market
InPlaceLeaseValuationBelowMarket
44840000 usd
CY2022Q4 gcnl In Place Lease Valuation Below Market
InPlaceLeaseValuationBelowMarket
48686000 usd
CY2023Q2 gcnl Land Leasehold Interest Above Market
LandLeaseholdInterestAboveMarket
3072000 usd
CY2022Q4 gcnl Land Leasehold Interest Above Market
LandLeaseholdInterestAboveMarket
3072000 usd
CY2023Q2 gcnl Other Intangible Assets Above Market
OtherIntangibleAssetsAboveMarket
223000 usd
CY2022Q4 gcnl Other Intangible Assets Above Market
OtherIntangibleAssetsAboveMarket
258000 usd
CY2023Q2 gcnl In Place Lease Valuation Below Market Accumulated Amortization
InPlaceLeaseValuationBelowMarketAccumulatedAmortization
30146000 usd
CY2022Q4 gcnl In Place Lease Valuation Below Market Accumulated Amortization
InPlaceLeaseValuationBelowMarketAccumulatedAmortization
31358000 usd
CY2023Q2 gcnl In Place Lease Valuation Below Market Net
InPlaceLeaseValuationBelowMarketNet
17989000 usd
CY2022Q4 gcnl In Place Lease Valuation Below Market Net
InPlaceLeaseValuationBelowMarketNet
20658000 usd
CY2023Q2 gcnl Deferred Costs Leasing Gross Including Related To Real Estate Held For Sale
DeferredCostsLeasingGrossIncludingRelatedToRealEstateHeldForSale
421795000 usd
CY2022Q4 gcnl Deferred Costs Leasing Gross Including Related To Real Estate Held For Sale
DeferredCostsLeasingGrossIncludingRelatedToRealEstateHeldForSale
535889000 usd
CY2023Q2 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
218698000 usd
CY2022Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
282383000 usd
CY2023Q2 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
203097000 usd
CY2022Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
253506000 usd
CY2023Q2 gcnl Amortization Of Above Below Market Leases Remainder Of Fiscal Year
AmortizationOfAboveBelowMarketLeasesRemainderOfFiscalYear
733000 usd
CY2023Q2 gcnl Amortization Of Deferred Leasing Fee Remainder Of Fiscal Year
AmortizationOfDeferredLeasingFeeRemainderOfFiscalYear
16572000 usd
CY2023Q2 gcnl Amortization Of Ground Leasehold Interests Remainder Of Fiscal Year
AmortizationOfGroundLeaseholdInterestsRemainderOfFiscalYear
160000 usd
CY2023Q2 gcnl Amortization Of Other Leasing Cost Remainder Of Fiscal Year
AmortizationOfOtherLeasingCostRemainderOfFiscalYear
981000 usd
CY2023Q2 gcnl Amortization Of Above Below Market Leases Year One
AmortizationOfAboveBelowMarketLeasesYearOne
1263000 usd
CY2023Q2 gcnl Amortization Of Deferred Leasing Fee Year One
AmortizationOfDeferredLeasingFeeYearOne
31551000 usd
CY2023Q2 gcnl Amortization Of Ground Leasehold Interests Year One
AmortizationOfGroundLeaseholdInterestsYearOne
318000 usd
CY2023Q2 gcnl Amortization Of Other Leasing Cost Year One
AmortizationOfOtherLeasingCostYearOne
2203000 usd
CY2023Q2 gcnl Amortization Of Above And Below Market Leases Year Two
AmortizationOfAboveAndBelowMarketLeasesYearTwo
1154000 usd
CY2023Q2 gcnl Amortization Of Deferred Leasing Fees Year Two
AmortizationOfDeferredLeasingFeesYearTwo
27492000 usd
CY2023Q2 gcnl Amortization Of Ground Leasehold Interest Year Two
AmortizationOfGroundLeaseholdInterestYearTwo
317000 usd
CY2023Q2 gcnl Amortization Of Other Leasing Costs Year Two
AmortizationOfOtherLeasingCostsYearTwo
2402000 usd
CY2023Q2 gcnl Amortization Of Above And Below Market Leases Year Three
AmortizationOfAboveAndBelowMarketLeasesYearThree
1049000 usd
CY2023Q2 gcnl Amortization Of Deferred Leasing Fees Year Three
AmortizationOfDeferredLeasingFeesYearThree
26158000 usd
CY2023Q2 gcnl Amortization Of Ground Leasehold Interest Year Three
AmortizationOfGroundLeaseholdInterestYearThree
317000 usd
CY2023Q2 gcnl Amortization Of Other Leasing Costs Year Three
AmortizationOfOtherLeasingCostsYearThree
2352000 usd
CY2023Q2 gcnl Amortization Of Above And Below Market Leases Year Four
AmortizationOfAboveAndBelowMarketLeasesYearFour
851000 usd
CY2023Q2 gcnl Amortization Of Deferred Leasing Fees Year Four
AmortizationOfDeferredLeasingFeesYearFour
23376000 usd
CY2023Q2 gcnl Amortization Of Ground Leasehold Interest Year Four
AmortizationOfGroundLeaseholdInterestYearFour
317000 usd
CY2023Q2 gcnl Amortization Of Other Leasing Costs Year Four
AmortizationOfOtherLeasingCostsYearFour
2171000 usd
CY2023Q2 gcnl Amortization Of Above And Below Market Leases Year Five
AmortizationOfAboveAndBelowMarketLeasesYearFive
666000 usd
CY2023Q2 gcnl Amortization Of Deferred Leasing Fees Year Five
AmortizationOfDeferredLeasingFeesYearFive
19835000 usd
CY2023Q2 gcnl Amortization Of Ground Leasehold Interest Year Five
AmortizationOfGroundLeaseholdInterestYearFive
318000 usd
CY2023Q2 gcnl Amortization Of Other Leasing Costs Year Five
AmortizationOfOtherLeasingCostsYearFive
1853000 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
397400000 usd
CY2023Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
397400000 usd
CY2023Q2 gcnl Number Of Impaired Properties
NumberOfImpairedProperties
16 property
gcnl Number Of Impaired Properties
NumberOfImpairedProperties
16 property
gcnl Number Of Real Estate Properties Sold
NumberOfRealEstatePropertiesSold
8
us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
300400000 usd
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
20900000 usd
us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
300400000 usd
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
20909000 usd
CY2022Q3 gcnl Number Of Real Estate Properties Sold
NumberOfRealEstatePropertiesSold
41
CY2022Q3 us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
1100000000 usd
CY2022Q4 gcnl Number Of Real Estate Properties Sold
NumberOfRealEstatePropertiesSold
5
CY2022Q4 us-gaap Proceeds From Sale Of Real Estate
ProceedsFromSaleOfRealEstate
170400000 usd
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
184200000 usd
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1467146000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1489803000 usd
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
6610000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
4401000 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
1460536000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
1485402000 usd
gcnl Line Of Credit Facility Commitment Extension Fee
LineOfCreditFacilityCommitmentExtensionFee
0.0020
CY2023Q2 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
-24900000 usd
CY2023Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
15982000 usd
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
13654000 usd
CY2023Q2 us-gaap Accrued Rent Current And Noncurrent
AccruedRentCurrentAndNoncurrent
12799000 usd
CY2022Q4 us-gaap Accrued Rent Current And Noncurrent
AccruedRentCurrentAndNoncurrent
12399000 usd
CY2023Q2 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
8682000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
8913000 usd
CY2023Q2 gcnl Accrued Tenant Obligations
AccruedTenantObligations
7008000 usd
CY2022Q4 gcnl Accrued Tenant Obligations
AccruedTenantObligations
620000 usd
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
35924476 shares
CY2023Q2 us-gaap Accrual For Taxes Other Than Income Taxes Current And Noncurrent
AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent
4924000 usd
CY2022Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current And Noncurrent
AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent
6296000 usd
CY2023Q2 gcnl Accrued Property Operating Expenses
AccruedPropertyOperatingExpenses
3616000 usd
CY2022Q4 gcnl Accrued Property Operating Expenses
AccruedPropertyOperatingExpenses
7960000 usd
CY2023Q2 gcnl Redemptions Payable
RedemptionsPayable
0 usd
CY2022Q4 gcnl Redemptions Payable
RedemptionsPayable
4383000 usd
CY2023Q2 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
27531000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
25950000 usd
CY2023Q2 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
80542000 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
80175000 usd
CY2023Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
397400000 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
397400000 usd
CY2023Q2 gcnl Number Of Impaired Properties
NumberOfImpairedProperties
16 property
gcnl Number Of Impaired Properties
NumberOfImpairedProperties
16 property
CY2023Q2 gcnl Fair Value Disclosures Discounted Cash Flow Analyses Assumption
FairValueDisclosuresDiscountedCashFlowAnalysesAssumption
13 asset
CY2023Q2 gcnl Fair Value Disclosures Estimated Selling Price Per Square Foot Assumption
FairValueDisclosuresEstimatedSellingPricePerSquareFootAssumption
3 asset
srt Mortgage Loans On Real Estate Number Of Loans
MortgageLoansOnRealEstateNumberOfLoans
7 loan
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
2800000000 usd
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
2800000000 usd
CY2023Q2 gcnl Sale Of Stock Capitalized Offering Costs
SaleOfStockCapitalizedOfferingCosts
5000000 usd
CY2023Q2 gcnl Percentage Of Non Controlling Interests Based On Weighted Average Shares
PercentageOfNonControllingInterestsBasedOnWeightedAverageShares
0.089
gcnl Limited Partners Capital Account Units Issued In Exchange For Property
LimitedPartnersCapitalAccountUnitsIssuedInExchangeForProperty
3500000 shares
CY2023Q2 us-gaap Limited Partners Capital Account Units Issued
LimitedPartnersCapitalAccountUnitsIssued
20000.00 shares
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
112900000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
193400000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
104707000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
199400000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
185047000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
180589000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
161668000 usd
CY2023Q2 gcnl Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
709995000 usd
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1541406000 usd
CY2023Q2 gcnl Operating Leases Number Of Ground Leases
OperatingLeasesNumberOfGroundLeases
3 lease
CY2023Q2 gcnl Finance Leases Number Of Ground Leases
FinanceLeasesNumberOfGroundLeases
2 lease
CY2023Q2 gcnl Lessee Operating Lease Option To Renew
LesseeOperatingLeaseOptionToRenew
0 option
CY2023Q2 gcnl Operating Leases Number Of Office Space
OperatingLeasesNumberOfOfficeSpace
2 office_space
CY2023Q2 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P2Y
CY2023Q2 gcnl Lessee Operating Lease Number Of Renewal Options
LesseeOperatingLeaseNumberOfRenewalOptions
1 renewal_option
CY2023Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
us-gaap Operating Lease Cost
OperatingLeaseCost
1900000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
2200000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
1100000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
1100000 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P76Y6M
CY2023Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P15Y6M
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0488
CY2023Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0334
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1080000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
343000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1909000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
360000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1570000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
365000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1504000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
375000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1527000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
381000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1595000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
386000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
248693000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
3072000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
257878000 usd
CY2023Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
5282000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
214767000 usd
CY2023Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
2025000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
43111000 usd
CY2023Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
3257000 usd
CY2022Q4 gcnl Number Of Property Types In Real Estate Portfolio
NumberOfPropertyTypesInRealEstatePortfolio
3 property_type
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2023Q2 gcnl Net Operating Income
NetOperatingIncome
49646000 usd
CY2022Q2 gcnl Net Operating Income
NetOperatingIncome
96211000 usd
gcnl Net Operating Income
NetOperatingIncome
103165000 usd
gcnl Net Operating Income
NetOperatingIncome
186285000 usd
CY2023Q2 us-gaap Profit Loss
ProfitLoss
-452403000 usd
CY2022Q2 us-gaap Profit Loss
ProfitLoss
-76599000 usd
us-gaap Profit Loss
ProfitLoss
-443384000 usd
us-gaap Profit Loss
ProfitLoss
-443384000 usd
us-gaap Profit Loss
ProfitLoss
-73869000 usd
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
12030000 usd
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
8750000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
21758000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
21758000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
17942000 usd
CY2023Q2 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
341000 usd
CY2022Q2 us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
416000 usd
us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
718000 usd
us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
718000 usd
us-gaap Costs And Expenses Related Party
CostsAndExpensesRelatedParty
926000 usd
CY2023Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
397373000 usd
CY2022Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
75557000 usd
CY2023Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
397373000 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
397373000 usd
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
75557000 usd
CY2023Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
30472000 usd
CY2022Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
59980000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
61827000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
61827000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
112843000 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
16068000 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
22366000 usd
us-gaap Interest Expense
InterestExpense
33082000 usd
us-gaap Interest Expense
InterestExpense
44032000 usd
CY2023Q2 us-gaap Other Income
OtherIncome
2747000 usd
CY2022Q2 us-gaap Other Income
OtherIncome
-196000 usd
us-gaap Other Income
OtherIncome
3959000 usd
us-gaap Other Income
OtherIncome
-426000 usd
CY2023Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-17508000 usd
CY2022Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-32169000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0 usd
CY2023Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-9701000 usd
CY2022Q2 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
20909000 usd
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0 usd
CY2023Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-21303000 usd
CY2022Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-5545000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-24490000 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-8428000 usd
CY2023Q2 gcnl Net Operating Income
NetOperatingIncome
49646000 usd
CY2022Q2 gcnl Net Operating Income
NetOperatingIncome
96211000 usd
gcnl Net Operating Income
NetOperatingIncome
103165000 usd
gcnl Net Operating Income
NetOperatingIncome
186285000 usd
CY2023Q2 us-gaap Goodwill
Goodwill
94678000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
94678000 usd
CY2023Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2188567000 usd
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
2852617000 usd
CY2023Q1 gcnl Common Stock Dividends Declared Per Share Annualized Equivalent
CommonStockDividendsDeclaredPerShareAnnualizedEquivalent
0.075
CY2023Q2 gcnl Common Stock Dividends Declared Per Share Annualized Equivalent
CommonStockDividendsDeclaredPerShareAnnualizedEquivalent
0.225
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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0001600626-23-000129-xbrl.zip Edgar Link pending
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