$SITC
Site Centers Corp

2023 Q3 Form 10-Q Financial Statement

#000095017023035128 Filed on July 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $144.8M $138.2M
YoY Change 4.26% -1.79%
Cost Of Revenue $41.53M $42.76M
YoY Change -2.83% -0.34%
Gross Profit $103.2M $95.40M
YoY Change 7.41% -2.43%
Gross Profit Margin 71.31% 69.05%
Selling, General & Admin $11.26M $14.03M
YoY Change 4.26% 23.59%
% of Gross Profit 10.91% 14.71%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $52.82M $58.70M
YoY Change 3.21% 15.05%
% of Gross Profit 51.17% 61.53%
Operating Expenses $105.6M $72.73M
YoY Change 0.85% -32.54%
Operating Profit -$2.379M $22.67M
YoY Change -72.37% -326.02%
Interest Expense $21.15M -$16.30M
YoY Change 5.01% -186.22%
% of Operating Profit -71.9%
Other Income/Expense, Net -$21.84M -$634.0K
YoY Change 5.8% -96.84%
Pretax Income $48.88M $5.715M
YoY Change -26.47% -90.59%
Income Tax $236.0K $362.0K
% Of Pretax Income 0.48% 6.33%
Net Earnings $48.64M $2.476M
YoY Change -26.52% -95.9%
Net Earnings / Revenue 33.6% 1.79%
Basic Earnings Per Share $0.22 $0.01
Diluted Earnings Per Share $0.22 $0.01
COMMON SHARES
Basic Shares Outstanding 209.3M 209.3M
Diluted Shares Outstanding 209.4M 209.4M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.56M $28.04M
YoY Change 27.18% -27.23%
Cash & Equivalents $26.56M $28.04M
Short-Term Investments
Other Short-Term Assets $10.84M $10.23M
YoY Change 12.71% 16.84%
Inventory
Prepaid Expenses
Receivables $65.19M $61.38M
Other Receivables $0.00 $0.00
Total Short-Term Assets $102.6M $99.65M
YoY Change 14.06% -2.42%
LONG-TERM ASSETS
Property, Plant & Equipment $3.748B $3.819B
YoY Change -4.81% -2.75%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $40.83M $40.56M
YoY Change -11.24% -23.52%
Other Assets $42.58M $6.977M
YoY Change 280.45% -38.0%
Total Long-Term Assets $3.923B $3.961B
YoY Change -4.49% -3.41%
TOTAL ASSETS
Total Short-Term Assets $102.6M $99.65M
Total Long-Term Assets $3.923B $3.961B
Total Assets $4.025B $4.061B
YoY Change -4.09% -3.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $208.2M $210.9M
YoY Change -8.28% -1.96%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $238.3M $241.0M
YoY Change -7.47% -1.96%
LONG-TERM LIABILITIES
Long-Term Debt $1.740B $1.795B
YoY Change -4.5% -3.84%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.740B $1.795B
YoY Change -4.5% -3.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $238.3M $241.0M
Total Long-Term Liabilities $1.740B $1.795B
Total Liabilities $1.978B $2.036B
YoY Change -4.86% -3.62%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $21.44M $21.44M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.047B $2.025B
YoY Change
Total Liabilities & Shareholders Equity $4.025B $4.061B
YoY Change -4.09% -3.39%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $48.64M $2.476M
YoY Change -26.52% -95.9%
Depreciation, Depletion And Amortization $52.82M $58.70M
YoY Change 3.21% 15.05%
Cash From Operating Activities $65.25M $84.63M
YoY Change -11.08% 3.1%
INVESTING ACTIVITIES
Capital Expenditures $56.82M $71.57M
YoY Change -191.03% -136.35%
Acquisitions
YoY Change
Other Investing Activities $112.3M $9.438M
YoY Change 63.83% -84.88%
Cash From Investing Activities $55.44M -$62.13M
YoY Change 807.73% -53.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -86.03M -19.37M
YoY Change -11.0% -126.06%
NET CHANGE
Cash From Operating Activities 65.25M 84.63M
Cash From Investing Activities 55.44M -62.13M
Cash From Financing Activities -86.03M -19.37M
Net Change In Cash 34.67M 3.134M
YoY Change -301.82% -85.73%
FREE CASH FLOW
Cash From Operating Activities $65.25M $84.63M
Capital Expenditures $56.82M $71.57M
Free Cash Flow $8.436M $13.06M
YoY Change -93.79% -95.32%

Facts In Submission

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CY2023Q2 us-gaap Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
4287000
CY2022Q2 us-gaap Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
0
us-gaap Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
1087000
us-gaap Increase Decrease In Fair Value Of Interest Rate Fair Value Hedging Instruments1
IncreaseDecreaseInFairValueOfInterestRateFairValueHedgingInstruments1
0
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
4287000
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1087000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0
CY2023Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
9640000
CY2022Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
60409000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
21742000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
74364000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
0
CY2022Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
19000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
18000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
37000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
9640000
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
60390000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
21724000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
74327000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2092622000
CY2023Q1 sitc Stock Issued During Period Value Share Based Compensation Net Of Costs
StockIssuedDuringPeriodValueShareBasedCompensationNetOfCosts
6000
CY2023Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
26611000
CY2023Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-3009000
CY2023Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
18000
CY2023Q1 us-gaap Dividends Common Stock
DividendsCommonStock
27292000
CY2023Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
2789000
CY2023Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
12102000
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2045011000
CY2023Q2 sitc Stock Issued During Period Value Share Based Compensation Net Of Costs
StockIssuedDuringPeriodValueShareBasedCompensationNetOfCosts
7000
CY2023Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
1858000
CY2023Q2 sitc Operating Partnership Units Redemption Value
OperatingPartnershipUnitsRedemptionValue
1735000
CY2023Q2 us-gaap Dividends Common Stock
DividendsCommonStock
27294000
CY2023Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
2789000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
9640000
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2024698000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2042652000
CY2022Q1 sitc Stock Issued During Period Value Share Based Compensation Net Of Costs
StockIssuedDuringPeriodValueShareBasedCompensationNetOfCosts
69000
CY2022Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
33781000
CY2022Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-3627000
CY2022Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
18000
CY2022Q1 us-gaap Dividends Common Stock
DividendsCommonStock
27905000
CY2022Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
2789000
CY2022Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
13955000
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2056118000
CY2022Q2 sitc Stock Issued During Period Value Share Based Compensation Net Of Costs
StockIssuedDuringPeriodValueShareBasedCompensationNetOfCosts
2000
CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
3076000
CY2022Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
1786000
CY2022Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
19000
CY2022Q2 us-gaap Dividends Common Stock
DividendsCommonStock
27905000
CY2022Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
2789000
CY2022Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
60409000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2090678000
us-gaap Profit Loss
ProfitLoss
20655000
us-gaap Profit Loss
ProfitLoss
74364000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
112714000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
101385000
us-gaap Share Based Compensation
ShareBasedCompensation
3635000
us-gaap Share Based Compensation
ShareBasedCompensation
3628000
sitc Amortization And Write Off Of Debt Issuance Costs And Fair Market Value Of Debt Adjustments
AmortizationAndWriteOffOfDebtIssuanceCostsAndFairMarketValueOfDebtAdjustments
2206000
sitc Amortization And Write Off Of Debt Issuance Costs And Fair Market Value Of Debt Adjustments
AmortizationAndWriteOffOfDebtIssuanceCostsAndFairMarketValueOfDebtAdjustments
2782000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
5977000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1550000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
258000
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
1111000
us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain Or Loss
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss
3749000
us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain Or Loss
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss
45326000
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
183000
us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
4455000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
2536000
sitc Assumption Of Building Due To Ground Lease Termination
AssumptionOfBuildingDueToGroundLeaseTermination
0
sitc Assumption Of Building Due To Ground Lease Termination
AssumptionOfBuildingDueToGroundLeaseTermination
1800000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3250000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-5110000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1623000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1659000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
4389000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
4019000
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
106142000
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
57743000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
126797000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
132107000
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
74783000
us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
297966000
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
51278000
us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
57092000
sitc Proceeds From Disposition Of Joint Venture Interests
ProceedsFromDispositionOfJointVentureInterests
3405000
sitc Proceeds From Disposition Of Joint Venture Interests
ProceedsFromDispositionOfJointVentureInterests
39247000
us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
0
us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
21555000
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
86000
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
117000
sitc Repayments Of Joint Venture Advances Net
RepaymentsOfJointVentureAdvancesNet
-318000
sitc Repayments Of Joint Venture Advances Net
RepaymentsOfJointVentureAdvancesNet
0
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
9468000
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
5422000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-112956000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-288951000
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
175000000
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
125000000
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
0
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
100000000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
7582000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
87209000
us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
0
us-gaap Repayments Of First Mortgage Bond
RepaymentsOfFirstMortgageBond
625000
us-gaap Repayments Of First Mortgage Bond
RepaymentsOfFirstMortgageBond
35134000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
36857000
sitc Proceeds From Repurchase Of Common Shares
ProceedsFromRepurchaseOfCommonShares
-4844000
sitc Proceeds From Repurchase Of Common Shares
ProceedsFromRepurchaseOfCommonShares
-5469000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
26611000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
sitc Operating Partnership Unit Redemption Value
OperatingPartnershipUnitRedemptionValue
1735000
sitc Operating Partnership Unit Redemption Value
OperatingPartnershipUnitRedemptionValue
0
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
37000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
35000
us-gaap Payments Of Dividends
PaymentsOfDividends
60401000
us-gaap Payments Of Dividends
PaymentsOfDividends
58865000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-6462000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
154772000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
7379000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-2072000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
21214000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
43252000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
28593000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
41180000
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>
CY2023Q2 sitc Consolidation Of The Net Assets Of Unconsolidated Joint Ventures Excluding Mortgages
ConsolidationOfTheNetAssetsOfUnconsolidatedJointVenturesExcludingMortgages
0
CY2022Q2 sitc Consolidation Of The Net Assets Of Unconsolidated Joint Ventures Excluding Mortgages
ConsolidationOfTheNetAssetsOfUnconsolidatedJointVenturesExcludingMortgages
42800000
sitc Net Assets Acquired From An Unconsolidated Joint Venture
NetAssetsAcquiredFromAnUnconsolidatedJointVenture
0
sitc Net Assets Acquired From An Unconsolidated Joint Venture
NetAssetsAcquiredFromAnUnconsolidatedJointVenture
8500000
CY2023Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
30100000
CY2022Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
30700000
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
12400000
us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
13600000
sitc Noncash Portion Of Redemption Of Op Units
NoncashPortionOfRedemptionOfOpUnits
4100000
sitc Noncash Portion Of Redemption Of Op Units
NoncashPortionOfRedemptionOfOpUnits
0
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
0
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
1800000
CY2023Q2 sitc Company Share In Accumulated Equity Of Unconsolidated Joint Ventures
CompanyShareInAccumulatedEquityOfUnconsolidatedJointVentures
37057000
CY2022Q4 sitc Company Share In Accumulated Equity Of Unconsolidated Joint Ventures
CompanyShareInAccumulatedEquityOfUnconsolidatedJointVentures
42644000
CY2023Q2 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
829000
CY2022Q4 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
-707000
CY2023Q2 sitc Equity Method Investment Difference Between Carrying Amount And Underlying Equity Deferred Development Fees Net Of Portion Relating To Company Interest
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquityDeferredDevelopmentFeesNetOfPortionRelatingToCompanyInterest
116000
CY2022Q4 sitc Equity Method Investment Difference Between Carrying Amount And Underlying Equity Deferred Development Fees Net Of Portion Relating To Company Interest
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquityDeferredDevelopmentFeesNetOfPortionRelatingToCompanyInterest
301000
CY2023Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
40556000
CY2022Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
44608000
CY2023Q2 sitc Income Loss From Equity Method Investments Before Amortization Of Basis Differentials
IncomeLossFromEquityMethodInvestmentsBeforeAmortizationOfBasisDifferentials
3237000
CY2022Q2 sitc Income Loss From Equity Method Investments Before Amortization Of Basis Differentials
IncomeLossFromEquityMethodInvestmentsBeforeAmortizationOfBasisDifferentials
592000
sitc Income Loss From Equity Method Investments Before Amortization Of Basis Differentials
IncomeLossFromEquityMethodInvestmentsBeforeAmortizationOfBasisDifferentials
4187000
sitc Income Loss From Equity Method Investments Before Amortization Of Basis Differentials
IncomeLossFromEquityMethodInvestmentsBeforeAmortizationOfBasisDifferentials
622000
CY2023Q2 sitc Amortization Of Basis Differentials
AmortizationOfBasisDifferentials
1381000
CY2022Q2 sitc Amortization Of Basis Differentials
AmortizationOfBasisDifferentials
789000
sitc Amortization Of Basis Differentials
AmortizationOfBasisDifferentials
1790000
sitc Amortization Of Basis Differentials
AmortizationOfBasisDifferentials
928000
CY2023Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
4618000
CY2022Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1381000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
5977000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1550000
CY2023Q2 sitc Other Revenue Earned From Unconsolidated Joint Ventures
OtherRevenueEarnedFromUnconsolidatedJointVentures
100000
CY2022Q2 sitc Other Revenue Earned From Unconsolidated Joint Ventures
OtherRevenueEarnedFromUnconsolidatedJointVentures
200000
sitc Other Revenue Earned From Unconsolidated Joint Ventures
OtherRevenueEarnedFromUnconsolidatedJointVentures
300000
sitc Other Revenue Earned From Unconsolidated Joint Ventures
OtherRevenueEarnedFromUnconsolidatedJointVentures
600000
CY2023Q2 sitc Fee And Other Income Earned From Unconsolidated Joint Ventures
FeeAndOtherIncomeEarnedFromUnconsolidatedJointVentures
1700000
CY2022Q2 sitc Fee And Other Income Earned From Unconsolidated Joint Ventures
FeeAndOtherIncomeEarnedFromUnconsolidatedJointVentures
3000000
sitc Fee And Other Income Earned From Unconsolidated Joint Ventures
FeeAndOtherIncomeEarnedFromUnconsolidatedJointVentures
3500000
sitc Fee And Other Income Earned From Unconsolidated Joint Ventures
FeeAndOtherIncomeEarnedFromUnconsolidatedJointVentures
6100000
CY2023Q1 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain Or Loss
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss
3700000
CY2023Q2 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
1300000
us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
1800000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
81353000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
87748000
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
17629000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
18197000
CY2023Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
10229000
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
6721000
CY2023Q2 sitc Swap Receivable
SwapReceivable
9582000
CY2022Q4 sitc Swap Receivable
SwapReceivable
8138000
CY2023Q2 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
1552000
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
3491000
CY2023Q2 us-gaap Deposits Assets
DepositsAssets
2627000
CY2022Q4 us-gaap Deposits Assets
DepositsAssets
3188000
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6425000
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
7526000
CY2023Q2 us-gaap Other Assets
OtherAssets
129397000
CY2022Q4 us-gaap Other Assets
OtherAssets
135009000
CY2023Q2 us-gaap Below Market Lease Net
BelowMarketLeaseNet
57844000
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
59825000
CY2023Q2 sitc Amortization Of Intangible Assets Excluding Above And Below Market Leases
AmortizationOfIntangibleAssetsExcludingAboveAndBelowMarketLeases
5900000
CY2022Q2 sitc Amortization Of Intangible Assets Excluding Above And Below Market Leases
AmortizationOfIntangibleAssetsExcludingAboveAndBelowMarketLeases
7000000
sitc Amortization Of Intangible Assets Excluding Above And Below Market Leases
AmortizationOfIntangibleAssetsExcludingAboveAndBelowMarketLeases
12100000
sitc Amortization Of Intangible Assets Excluding Above And Below Market Leases
AmortizationOfIntangibleAssetsExcludingAboveAndBelowMarketLeases
13600000
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
9300000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
8100000
CY2023Q2 us-gaap Senior Notes
SeniorNotes
1367775000
CY2022Q4 us-gaap Senior Notes
SeniorNotes
1453923000
CY2023Q2 sitc Revolving Credit Facility And Term Loan
RevolvingCreditFacilityAndTermLoan
373689000
CY2022Q4 sitc Revolving Credit Facility And Term Loan
RevolvingCreditFacilityAndTermLoan
198521000
CY2023Q2 us-gaap Notes And Loans Payable
NotesAndLoansPayable
53829000
CY2022Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
54577000
CY2023Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
1795293000
CY2022Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
1707021000
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.13
CY2022Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.13
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.26
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.26
CY2023Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1500000
CY2023Q1 sitc Shares Repurchased Value At Cost
SharesRepurchasedValueAtCost
20000000
CY2023Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
13.43
CY2022 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
500000
CY2022 sitc Shares Repurchased Value At Cost
SharesRepurchasedValueAtCost
6600000
CY2023Q2 sitc Repurchase During Period Op Unit
RepurchaseDuringPeriodOpUnit
140633
CY2023Q2 sitc Operating Partnership Units Redemption Value
OperatingPartnershipUnitsRedemptionValue
1700000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
3126000
sitc Amounts Reclassified From Accumulated Other Comprehensive Income To Interest Expense
AmountsReclassifiedFromAccumulatedOtherComprehensiveIncomeToInterestExpense
2039000
CY2023Q2 us-gaap Profit Loss
ProfitLoss
5353000
CY2022Q2 us-gaap Profit Loss
ProfitLoss
60409000
us-gaap Profit Loss
ProfitLoss
20655000
us-gaap Profit Loss
ProfitLoss
74364000
CY2023Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0
CY2022Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
19000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
18000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
37000
CY2023Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2789000
CY2022Q2 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2789000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
5578000
us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
5578000
CY2023Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
88000
CY2022Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
125000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
195000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
251000
CY2023Q2 sitc Net Income Loss Attributable To Common Shareholders After Allocation To Participating Securities
NetIncomeLossAttributableToCommonShareholdersAfterAllocationToParticipatingSecurities
2476000
CY2022Q2 sitc Net Income Loss Attributable To Common Shareholders After Allocation To Participating Securities
NetIncomeLossAttributableToCommonShareholdersAfterAllocationToParticipatingSecurities
57476000
sitc Net Income Loss Attributable To Common Shareholders After Allocation To Participating Securities
NetIncomeLossAttributableToCommonShareholdersAfterAllocationToParticipatingSecurities
14864000
sitc Net Income Loss Attributable To Common Shareholders After Allocation To Participating Securities
NetIncomeLossAttributableToCommonShareholdersAfterAllocationToParticipatingSecurities
68498000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
209266000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
213864000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
209616000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
212989000
CY2023Q2 sitc Performance Restricted Stock Units
PerformanceRestrictedStockUnits
181000
CY2022Q2 sitc Performance Restricted Stock Units
PerformanceRestrictedStockUnits
906000
sitc Performance Restricted Stock Units
PerformanceRestrictedStockUnits
445000
sitc Performance Restricted Stock Units
PerformanceRestrictedStockUnits
1104000
CY2023Q2 sitc Op Units
OPUnits
0
CY2022Q2 sitc Op Units
OPUnits
141000
sitc Op Units
OPUnits
0
sitc Op Units
OPUnits
141000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
209447000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
214911000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
210061000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
214234000
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.27
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.27
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.32

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