2023 Q1 Form 10-K Financial Statement

#000095017023003924 Filed on February 23, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $138.7M $138.5M $552.4M
YoY Change 3.25% 2.74% 1325.35%
Cost Of Revenue $43.22M $42.23M $170.0M
YoY Change 2.61% 16.56% 11.26%
Gross Profit $95.47M $96.28M $382.4M
YoY Change 3.55% -2.34% 0.6%
Gross Profit Margin 68.84% 69.51% 69.23%
Selling, General & Admin $10.65M $12.16M $46.56M
YoY Change -13.11% -9.95% -15.42%
% of Gross Profit 11.15% 12.63% 12.18%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $54.02M $50.98M $203.5M
YoY Change 7.25% 5.5% 9.57%
% of Gross Profit 56.58% 52.95% 53.23%
Operating Expenses $107.9M $63.14M $422.6M
YoY Change 72.29% 2.13% 5.43%
Operating Profit -$12.41M $33.14M -$40.26M
YoY Change -141.94% -9.85% 93.56%
Interest Expense $19.92M -$19.96M $77.69M
YoY Change 9.12% -213.7% 1.71%
% of Operating Profit -60.24%
Other Income/Expense, Net -$20.61M -$388.0K -$80.23M
YoY Change 3989.29% -1437.93% 3.43%
Pretax Income $15.52M $28.17M $169.6M
YoY Change 9.21% -52.73% 211.67%
Income Tax $213.0K -$47.00K $816.0K
% Of Pretax Income 1.37% -0.17% 0.48%
Net Earnings $15.28M $25.29M $168.7M
YoY Change 9.66% -57.13% 35.05%
Net Earnings / Revenue 11.02% 18.26% 30.55%
Basic Earnings Per Share $0.06 $0.74
Diluted Earnings Per Share $0.06 $0.12 $0.73
COMMON SHARES
Basic Shares Outstanding 210.4M 212.5M 213.0M
Diluted Shares Outstanding 210.4M 213.9M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.03M $20.25M $20.25M
YoY Change 45.65% -51.55% -51.55%
Cash & Equivalents $25.03M $20.25M $20.25M
Short-Term Investments
Other Short-Term Assets $19.28M $6.721M $6.721M
YoY Change 38.12% -12.96% -12.96%
Inventory
Prepaid Expenses
Receivables $59.86M $63.93M $63.93M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $104.2M $90.90M $90.90M
YoY Change 24.57% -18.04% -18.32%
LONG-TERM ASSETS
Property, Plant & Equipment $3.800B $3.798B $3.798B
YoY Change 0.06% 3.04% 3.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $45.58M $44.61M $44.61M
YoY Change -20.11% -30.98% -30.98%
Other Assets $7.401M $8.486M $8.486M
YoY Change 30.41% 51.75% 51.75%
Total Long-Term Assets $3.949B $3.954B $3.954B
YoY Change -0.47% 2.54% 2.55%
TOTAL ASSETS
Total Short-Term Assets $104.2M $90.90M $90.90M
Total Long-Term Assets $3.949B $3.954B $3.954B
Total Assets $4.053B $4.045B $4.045B
YoY Change 0.04% 1.97% 1.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $195.8M $177.2M $177.2M
YoY Change -5.1% -19.0% -1.71%
Accrued Expenses $37.78M $37.78M
YoY Change -1.85%
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 $225.9M $245.4M $245.4M
YoY Change -4.69% -0.67% -0.67%
LONG-TERM LIABILITIES
Long-Term Debt $1.782B $1.707B $1.707B
YoY Change 1.36% 1.77% 1.77%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.782B $1.707B $1.707B
YoY Change 1.36% 1.77% 1.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $225.9M $245.4M $245.4M
Total Long-Term Liabilities $1.782B $1.707B $1.707B
Total Liabilities $2.008B $1.952B $1.958B
YoY Change 0.64% 1.45% 1.45%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $21.44M $21.44M
YoY Change 0.09% 1.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.039B $2.087B $2.087B
YoY Change
Total Liabilities & Shareholders Equity $4.053B $4.045B $4.045B
YoY Change 0.04% 1.97% 1.97%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $15.28M $25.29M $168.7M
YoY Change 9.66% -57.13% 35.05%
Depreciation, Depletion And Amortization $54.02M $50.98M $203.5M
YoY Change 7.25% 5.5% 9.57%
Cash From Operating Activities $42.17M $51.78M $257.3M
YoY Change -15.7% -20.53% -8.94%
INVESTING ACTIVITIES
Capital Expenditures $54.49M $32.45M $449.9M
YoY Change -134.45% -136.53% -317.22%
Acquisitions
YoY Change
Other Investing Activities $3.667M $147.7M $282.4M
YoY Change -0.46% -35.21% 0.28%
Cash From Investing Activities -$50.83M $115.3M -$167.6M
YoY Change -67.1% -17.17% -325.06%
FINANCING ACTIVITIES
Cash Dividend Paid $30.35M $120.0M
YoY Change 7.6% 20.57%
Common Stock Issuance & Retirement, Net $5.532M
YoY Change -102.46%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 12.90M -169.8M -111.7M
YoY Change -83.96% -24.99% -71.21%
NET CHANGE
Cash From Operating Activities 42.17M 51.78M 257.3M
Cash From Investing Activities -50.83M 115.3M -167.6M
Cash From Financing Activities 12.90M -169.8M -111.7M
Net Change In Cash 4.245M -2.788M -22.04M
YoY Change -117.66% -87.38% -92.97%
FREE CASH FLOW
Cash From Operating Activities $42.17M $51.78M $257.3M
Capital Expenditures $54.49M $32.45M $449.9M
Free Cash Flow -$12.33M $19.32M -$192.7M
YoY Change -105.92% -87.45% -139.35%

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CY2021 sitc Other Comprehensive Income Loss Change In Cash Flow Hedges Reclassed To Earnings Net Of Tax
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CY2021 sitc Assumption Of Buildings Due To Ground Lease Terminations
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CY2020Q4 sitc Amount Of Funds In Escrow To Be Received From Canadian Taxing Authority Pending Receipt Of Certain Tax Certificates
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0
CY2022 sitc Non Cash Preferred Stock Redemption Premium
NonCashPreferredStockRedemptionPremium
0
CY2021 sitc Non Cash Preferred Stock Redemption Premium
NonCashPreferredStockRedemptionPremium
5100000
CY2020 sitc Non Cash Preferred Stock Redemption Premium
NonCashPreferredStockRedemptionPremium
0
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:2.267%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates in Preparation of Financial Statements</span></p><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of financial statements in conformity with generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during the year. Actual results could differ from those estimates. </span>
CY2022Q4 sitc Consolidation Of The Net Assets Of Unconsolidated Joint Ventures Excluding Mortgages
ConsolidationOfTheNetAssetsOfUnconsolidatedJointVenturesExcludingMortgages
42800000
CY2021Q4 sitc Consolidation Of The Net Assets Of Unconsolidated Joint Ventures Excluding Mortgages
ConsolidationOfTheNetAssetsOfUnconsolidatedJointVenturesExcludingMortgages
132300000
CY2020Q4 sitc Consolidation Of The Net Assets Of Unconsolidated Joint Ventures Excluding Mortgages
ConsolidationOfTheNetAssetsOfUnconsolidatedJointVenturesExcludingMortgages
272600000
CY2022 sitc Noncash Or Part Noncash Acquisition Of Non Controlling Interest
NoncashOrPartNoncashAcquisitionOfNonControllingInterest
0
CY2021 sitc Noncash Or Part Noncash Acquisition Of Non Controlling Interest
NoncashOrPartNoncashAcquisitionOfNonControllingInterest
2100000
CY2020 sitc Noncash Or Part Noncash Acquisition Of Non Controlling Interest
NoncashOrPartNoncashAcquisitionOfNonControllingInterest
0
CY2022 sitc Investment In Joint Ventures Related To Net Assets Acquired
InvestmentInJointVenturesRelatedToNetAssetsAcquired
8500000
CY2021 sitc Investment In Joint Ventures Related To Net Assets Acquired
InvestmentInJointVenturesRelatedToNetAssetsAcquired
11600000
CY2020 sitc Investment In Joint Ventures Related To Net Assets Acquired
InvestmentInJointVenturesRelatedToNetAssetsAcquired
86400000
CY2022 sitc Noncash Or Part Noncash Mortgage Assumed Of Unconsolidated Joint Ventures
NoncashOrPartNoncashMortgageAssumedOfUnconsolidatedJointVentures
0
CY2021 sitc Noncash Or Part Noncash Mortgage Assumed Of Unconsolidated Joint Ventures
NoncashOrPartNoncashMortgageAssumedOfUnconsolidatedJointVentures
73900000
CY2020 sitc Noncash Or Part Noncash Mortgage Assumed Of Unconsolidated Joint Ventures
NoncashOrPartNoncashMortgageAssumedOfUnconsolidatedJointVentures
196600000
CY2022 sitc Noncash Or Part Noncash Mortgage Assumed And Acquisition
NoncashOrPartNoncashMortgageAssumedAndAcquisition
0
CY2021 sitc Noncash Or Part Noncash Mortgage Assumed And Acquisition
NoncashOrPartNoncashMortgageAssumedAndAcquisition
17900000
CY2020 sitc Noncash Or Part Noncash Mortgage Assumed And Acquisition
NoncashOrPartNoncashMortgageAssumedAndAcquisition
0
CY2022 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
12200000
CY2021 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
13400000
CY2020 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
6300000
CY2022Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
30400000
CY2021Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
28200000
CY2020Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
14800000
CY2022Q4 sitc Amount Of Funds In Escrow To Be Received From Canadian Taxing Authority Pending Receipt Of Certain Tax Certificates
AmountOfFundsInEscrowToBeReceivedFromCanadianTaxingAuthorityPendingReceiptOfCertainTaxCertificates
0
CY2021Q4 sitc Amount Of Funds In Escrow To Be Received From Canadian Taxing Authority Pending Receipt Of Certain Tax Certificates
AmountOfFundsInEscrowToBeReceivedFromCanadianTaxingAuthorityPendingReceiptOfCertainTaxCertificates
2100000
CY2022 sitc Capitalized Costs
CapitalizedCosts
4000000.0
CY2021 sitc Capitalized Costs
CapitalizedCosts
3100000
CY2020 sitc Capitalized Costs
CapitalizedCosts
3000000.0
CY2022 us-gaap Interest Paid
InterestPaid
71300000
CY2021 us-gaap Interest Paid
InterestPaid
70200000
CY2020 us-gaap Interest Paid
InterestPaid
76000000.0
CY2022 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
1100000
CY2021 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
600000
CY2020 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
900000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1500000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
3000000.0
CY2022Q4 sitc Allowance For Doubtful Accounts Straight Line Rent Receivable
AllowanceForDoubtfulAccountsStraightLineRentReceivable
1700000
CY2021Q4 sitc Allowance For Doubtful Accounts Straight Line Rent Receivable
AllowanceForDoubtfulAccountsStraightLineRentReceivable
1600000
CY2022Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
31900000
CY2021Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
29800000
CY2022 sitc Annual Asset Management Fee Earned
AnnualAssetManagementFeeEarned
500000000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6800000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13000000.0
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8000000.0
CY2021 sitc Interest Income Earned On Preferred Interests In Joint Ventures
InterestIncomeEarnedOnPreferredInterestsInJointVentures
0
CY2020 sitc Interest Income Earned On Preferred Interests In Joint Ventures
InterestIncomeEarnedOnPreferredInterestsInJointVentures
12000000.0
CY2022 sitc Other Revenue Earned From Unconsolidated Joint Ventures
OtherRevenueEarnedFromUnconsolidatedJointVentures
1000000.0
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
47297000
CY2020 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1516000
CY2022 sitc Interest Income Earned On Preferred Interests In Joint Ventures
InterestIncomeEarnedOnPreferredInterestsInJointVentures
0
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2021 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2020 sitc Transferred And Redeemed Loan Investments
TransferredAndRedeemedLoanInvestments
the Company transferred and redeemed its loan investments (preferred equity interests) in BRE DDR Retail Holdings III and BRE DDR Retail Holdings IV (the “BRE DDR Joint Ventures”) in exchange for the acquisition of certain of the underlying assets of two joint ventures
CY2022 us-gaap Factors Used To Identify Entitys Reportable Segments
FactorsUsedToIdentifyEntitysReportableSegments
The Company’s chief operating decision maker may review operational and financial data on a property basis and does not differentiate among properties on a geographical basis for purposes of allocating resources or capital. The Company evaluates individual property performance primarily based on net operating income before depreciation, amortization and certain nonrecurring items. Each consolidated shopping center is considered a separate operating segment; however, each shopping center, on a stand-alone basis, represents less than 10% of revenues, profit or loss, and assets of the combined reported operating segment and meets the majority of the aggregations criteria under the applicable standard.
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10556000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
38752000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
41413000
CY2022 sitc Fee And Other Income Other
FeeAndOtherIncomeOther
4691000
CY2021 sitc Fee And Other Income Other
FeeAndOtherIncomeOther
3313000
CY2020 sitc Fee And Other Income Other
FeeAndOtherIncomeOther
4056000
CY2022 sitc Fee And Other Income Including Revenue From Contracts With Customers
FeeAndOtherIncomeIncludingRevenueFromContractsWithCustomers
15247000
CY2021 sitc Fee And Other Income Including Revenue From Contracts With Customers
FeeAndOtherIncomeIncludingRevenueFromContractsWithCustomers
42065000
CY2020 sitc Fee And Other Income Including Revenue From Contracts With Customers
FeeAndOtherIncomeIncludingRevenueFromContractsWithCustomers
45469000
CY2022Q4 sitc Company Share In Accumulated Equity Of Unconsolidated Joint Ventures
CompanyShareInAccumulatedEquityOfUnconsolidatedJointVentures
42644000
CY2021Q4 sitc Company Share In Accumulated Equity Of Unconsolidated Joint Ventures
CompanyShareInAccumulatedEquityOfUnconsolidatedJointVentures
59286000
CY2022Q4 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
-707000
CY2021Q4 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
2946000
CY2022Q4 sitc Equity Method Investment Difference Between Carrying Amount And Underlying Equity Deferred Development Fees Net Of Portion Relating To Company Interest
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquityDeferredDevelopmentFeesNetOfPortionRelatingToCompanyInterest
301000
CY2021Q4 sitc Equity Method Investment Difference Between Carrying Amount And Underlying Equity Deferred Development Fees Net Of Portion Relating To Company Interest
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquityDeferredDevelopmentFeesNetOfPortionRelatingToCompanyInterest
937000
CY2022Q4 us-gaap Due From Joint Ventures
DueFromJointVentures
2972000
CY2021Q4 us-gaap Due From Joint Ventures
DueFromJointVentures
3331000
CY2022Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
44608000
CY2021Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
64626000
CY2022 sitc Income Loss From Equity Method Investments Before Amortization Of Basis Differentials
IncomeLossFromEquityMethodInvestmentsBeforeAmortizationOfBasisDifferentials
22262000
CY2021 sitc Income Loss From Equity Method Investments Before Amortization Of Basis Differentials
IncomeLossFromEquityMethodInvestmentsBeforeAmortizationOfBasisDifferentials
49417000
CY2020 sitc Income Loss From Equity Method Investments Before Amortization Of Basis Differentials
IncomeLossFromEquityMethodInvestmentsBeforeAmortizationOfBasisDifferentials
1109000
CY2022 sitc Amortization Of Basis Differentials
AmortizationOfBasisDifferentials
5630000
CY2021 sitc Amortization Of Basis Differentials
AmortizationOfBasisDifferentials
-2120000
CY2020 sitc Amortization Of Basis Differentials
AmortizationOfBasisDifferentials
407000
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
27892000
CY2021 sitc Other Revenue Earned From Unconsolidated Joint Ventures
OtherRevenueEarnedFromUnconsolidatedJointVentures
1700000
CY2020 sitc Other Revenue Earned From Unconsolidated Joint Ventures
OtherRevenueEarnedFromUnconsolidatedJointVentures
2100000
CY2022 sitc Interest Income And Other Revenue Earned From Unconsolidated Joint Ventures
InterestIncomeAndOtherRevenueEarnedFromUnconsolidatedJointVentures
1000000.0
CY2021 sitc Interest Income And Other Revenue Earned From Unconsolidated Joint Ventures
InterestIncomeAndOtherRevenueEarnedFromUnconsolidatedJointVentures
1700000
CY2020 sitc Interest Income And Other Revenue Earned From Unconsolidated Joint Ventures
InterestIncomeAndOtherRevenueEarnedFromUnconsolidatedJointVentures
14100000
CY2022 sitc Fee And Other Income Earned From Unconsolidated Joint Ventures
FeeAndOtherIncomeEarnedFromUnconsolidatedJointVentures
10600000
CY2021 sitc Fee And Other Income Earned From Unconsolidated Joint Ventures
FeeAndOtherIncomeEarnedFromUnconsolidatedJointVentures
14500000
CY2020 sitc Fee And Other Income Earned From Unconsolidated Joint Ventures
FeeAndOtherIncomeEarnedFromUnconsolidatedJointVentures
31100000
CY2022 sitc Company Share Of Gain On Sale Of Joint Venture Assets
CompanyShareOfGainOnSaleOfJointVentureAssets
27000000.0
CY2021 sitc Company Share Of Gain On Sale Of Joint Venture Assets
CompanyShareOfGainOnSaleOfJointVentureAssets
36600000
CY2020 sitc Company Share Of Gain On Sale Of Joint Venture Assets
CompanyShareOfGainOnSaleOfJointVentureAssets
1800000
CY2022 sitc Fair Value Inputs Discounts Rate
FairValueInputsDiscountsRate
0.080
CY2021 sitc Fair Value Inputs Discounts Rate
FairValueInputsDiscountsRate
0.073
CY2022 sitc Fair Value Input Cap Rate
FairValueInputCapRate
0.060
CY2021 sitc Fair Value Input Cap Rate
FairValueInputCapRate
0.068
CY2022 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
18400000
CY2021 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
3900000
CY2020 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
7300000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
87748000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
94059000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
18197000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
19047000
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
6721000
CY2021Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
7722000
CY2022Q4 sitc Swap Receivable
SwapReceivable
8138000
CY2021Q4 sitc Swap Receivable
SwapReceivable
0
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
3491000
CY2021Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
1708000
CY2022Q4 us-gaap Deposits Assets
DepositsAssets
3188000
CY2021Q4 us-gaap Deposits Assets
DepositsAssets
3796000
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
7526000
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
4147000
CY2022Q4 us-gaap Other Assets
OtherAssets
135009000
CY2021Q4 us-gaap Other Assets
OtherAssets
130479000
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
59825000
CY2021Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
59690000
CY2020 sitc Amortization Of Intangible Assets Excluding Above And Below Market Leases
AmortizationOfIntangibleAssetsExcludingAboveAndBelowMarketLeases
15800000
CY2022 sitc Amortization Of Intangible Assets Excluding Above And Below Market Leases
AmortizationOfIntangibleAssetsExcludingAboveAndBelowMarketLeases
27500000
CY2021 sitc Amortization Of Intangible Assets Excluding Above And Below Market Leases
AmortizationOfIntangibleAssetsExcludingAboveAndBelowMarketLeases
21600000
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P35Y4M24D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P35Y6M
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.074
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.074
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
4227000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
4342000
CY2022Q4 sitc Future Amortization Income Next Twelve Months
FutureAmortizationIncomeNextTwelveMonths
4700000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
22200000
CY2022Q4 sitc Future Amortization Income Year Two
FutureAmortizationIncomeYearTwo
4800000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
18000000.0
CY2022Q4 sitc Future Amortization Income Year Three
FutureAmortizationIncomeYearThree
4800000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
12000000.0
CY2022Q4 sitc Future Amortization Income Year Four
FutureAmortizationIncomeYearFour
4600000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
7500000
CY2022Q4 sitc Future Amortization Income Year Five
FutureAmortizationIncomeYearFive
4400000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
5100000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
18197000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
19047000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
37777000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
38491000
CY2022 us-gaap Lease Cost
LeaseCost
4809000
CY2021 us-gaap Lease Cost
LeaseCost
5050000
CY2020 us-gaap Lease Cost
LeaseCost
5343000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
3657000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
3658000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
3717000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
3815000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
3743000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
107371000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
125961000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
88184000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
37777000
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Rolling Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextRollingTwelveMonths
384320000
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Rolling Year Two
LessorOperatingLeasePaymentsToBeReceivedRollingYearTwo
343074000
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Rolling Year Three
LessorOperatingLeasePaymentsToBeReceivedRollingYearThree
286598000
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Rolling Year Four
LessorOperatingLeasePaymentsToBeReceivedRollingYearFour
238366000
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received Rolling Year Five
LessorOperatingLeasePaymentsToBeReceivedRollingYearFive
190968000
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received After Rolling Year Five
LessorOperatingLeasePaymentsToBeReceivedAfterRollingYearFive
536633000
CY2022Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1979959000
CY2022 us-gaap Debt Instrument Covenant Description
DebtInstrumentCovenantDescription
The fixed-rate senior notes were issued pursuant to indentures that contain certain covenants, including limitations on incurrence of debt, maintenance of unencumbered real estate assets and debt service coverage. The covenants also provide that the cumulative dividends declared or paid from December 31, 1993, through the end of the current period cannot exceed Funds From Operations (as defined in the agreement) plus an additional $20.0 million for the same period unless required to maintain REIT status. Interest is paid semiannually in arrears. At December 31, 2022 and 2021, the Company was in compliance with all of the financial covenants under the indentures.
CY2022 us-gaap Debt Instrument Covenant Compliance
DebtInstrumentCovenantCompliance
At December 31, 2022 and 2021, the Company was in compliance with all of the financial covenants under the indentures.
CY2021Q4 us-gaap Senior Notes
SeniorNotes
1451768000
CY2022Q4 sitc Revolving Credit Facilities And Term Loans
RevolvingCreditFacilitiesAndTermLoans
198521000
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
88449000
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
93377000
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
481542000
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
398910000
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
649636000
CY2022Q4 sitc Long Term Debt Maturing Net Before Fair Market Value Of Debt Adjustment
LongTermDebtMaturingNetBeforeFairMarketValueOfDebtAdjustment
1711914000
CY2022Q4 sitc Long Term Debt Fair Market Value Of Debt Adjustment
LongTermDebtFairMarketValueOfDebtAdjustment
737000
CY2022Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
5630000
CY2022Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
1707021000
CY2022 sitc Gross Fees Paid For Revolving Credit Facilities And Term Loans
GrossFeesPaidForRevolvingCreditFacilitiesAndTermLoans
2200000
CY2021 sitc Gross Fees Paid For Revolving Credit Facilities And Term Loans
GrossFeesPaidForRevolvingCreditFacilitiesAndTermLoans
2100000
CY2020 sitc Gross Fees Paid For Revolving Credit Facilities And Term Loans
GrossFeesPaidForRevolvingCreditFacilitiesAndTermLoans
2600000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
8100000
CY2022Q4 us-gaap Senior Notes
SeniorNotes
1453923000
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0
CY2022 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
100000
CY2021Q4 sitc Revolving Credit Facilities And Term Loans
RevolvingCreditFacilitiesAndTermLoans
99810000
CY2022Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
54577000
CY2021Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
125799000
CY2022Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
1707021000
CY2021Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
1677377000
CY2022Q4 sitc Commitments For Construction Of Properties
CommitmentsForConstructionOfProperties
24400000
CY2022Q4 sitc Commitments For Construction Of Unconsolidated Properties
CommitmentsForConstructionOfUnconsolidatedProperties
4200000
CY2022Q4 sitc Commitments For Maintenance Gen Exp Of Properties
CommitmentsForMaintenanceGenExpOfProperties
4900000
CY2022Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
12900000
CY2022Q4 us-gaap Other Ownership Interests Units Outstanding
OtherOwnershipInterestsUnitsOutstanding
140633
CY2021Q4 us-gaap Other Ownership Interests Units Outstanding
OtherOwnershipInterestsUnitsOutstanding
140633
CY2022 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.52
CY2021 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.47
CY2020 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.25
CY2021 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
17250000
CY2021 sitc Weighted Average Common Share Price Per Share
WeightedAverageCommonSharePricePerShare
13.06
CY2021 sitc Net Proceeds From Issuance Of Common Stock
NetProceedsFromIssuanceOfCommonStock
225300000
CY2022Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000
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400000
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19393000
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MortgageLoansOnRealEstateCollectionsOfPrincipalAndInterest
112887000
CY2020Q4 us-gaap Mortgage Loans On Real Estate
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0

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