2024 Q2 Form 10-Q Financial Statement

#000095017024051246 Filed on May 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $115.7M $122.1M
YoY Change -16.28% -11.97%
Cost Of Revenue $35.40M $37.28M
YoY Change -17.21% -13.74%
Gross Profit $80.27M $84.81M
YoY Change -15.86% -11.17%
Gross Profit Margin 69.4% 69.46%
Selling, General & Admin $12.71M $11.07M
YoY Change -9.39% 4.01%
% of Gross Profit 15.84% 13.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $40.44M $43.15M
YoY Change -31.11% -20.12%
% of Gross Profit 50.38% 50.88%
Operating Expenses $88.55M $54.22M
YoY Change 21.75% -49.74%
Operating Profit -$8.279M $30.59M
YoY Change -136.51% -346.53%
Interest Expense $18.43M -$15.70M
YoY Change -213.02% -178.79%
% of Operating Profit -51.32%
Other Income/Expense, Net -$24.64M -$4.063M
YoY Change 3786.44% -80.29%
Pretax Income $238.5M -$23.30M
YoY Change 4073.68% -250.18%
Income Tax $281.0K $252.0K
% Of Pretax Income 0.12%
Net Earnings $238.2M -$26.47M
YoY Change 9522.17% -273.2%
Net Earnings / Revenue 205.97% -21.68%
Basic Earnings Per Share $1.12 -$0.13
Diluted Earnings Per Share $1.11 -$0.13
COMMON SHARES
Basic Shares Outstanding 209.5M 209.4M
Diluted Shares Outstanding 211.3M 209.4M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.181B $551.3M
YoY Change 4112.73% 2102.15%
Cash & Equivalents $1.181B $551.3M
Short-Term Investments
Other Short-Term Assets $7.965M $12.94M
YoY Change -22.13% -32.88%
Inventory
Prepaid Expenses
Receivables $48.17M $57.16M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.237B $621.4M
YoY Change 1141.82% 496.5%
LONG-TERM ASSETS
Property, Plant & Equipment $2.665B $3.130B
YoY Change -30.2% -17.62%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $32.58M $38.61M
YoY Change -19.68% -15.29%
Other Assets $8.517M $10.21M
YoY Change 22.07% 37.91%
Total Long-Term Assets $2.808B $3.271B
YoY Change -29.11% -17.16%
TOTAL ASSETS
Total Short-Term Assets $1.237B $621.4M
Total Long-Term Assets $2.808B $3.271B
Total Assets $4.046B $3.893B
YoY Change -0.38% -3.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $167.7M $173.2M
YoY Change -20.51% -11.53%
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 $197.8M $203.4M
YoY Change -17.91% -9.96%
LONG-TERM LIABILITIES
Long-Term Debt $1.514B $1.565B
YoY Change -15.69% -12.18%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.514B $1.565B
YoY Change -15.69% -12.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $197.8M $203.4M
Total Long-Term Liabilities $1.514B $1.565B
Total Liabilities $1.711B $1.769B
YoY Change -15.95% -11.93%
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 $2.334B $2.124B
YoY Change
Total Liabilities & Shareholders Equity $4.046B $3.893B
YoY Change -0.38% -3.96%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $238.2M -$26.47M
YoY Change 9522.17% -273.2%
Depreciation, Depletion And Amortization $40.44M $43.15M
YoY Change -31.11% -20.12%
Cash From Operating Activities $66.49M $39.95M
YoY Change -21.43% -5.25%
INVESTING ACTIVITIES
Capital Expenditures $83.69M $37.88M
YoY Change 16.94% -30.49%
Acquisitions
YoY Change
Other Investing Activities $731.6M $116.0M
YoY Change 7651.24% 3063.76%
Cash From Investing Activities $647.9M $78.14M
YoY Change -1142.77% -253.73%
FINANCING ACTIVITIES
Cash Dividend Paid $63.73M
YoY Change 109.97%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -85.50M -130.4M
YoY Change 341.5% -1110.55%
NET CHANGE
Cash From Operating Activities 66.49M 39.95M
Cash From Investing Activities 647.9M 78.14M
Cash From Financing Activities -85.50M -130.4M
Net Change In Cash 628.9M -12.31M
YoY Change 19965.73% -390.06%
FREE CASH FLOW
Cash From Operating Activities $66.49M $39.95M
Capital Expenditures $83.69M $37.88M
Free Cash Flow -$17.20M $2.074M
YoY Change -231.69% -116.83%

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AmortizationAndWriteOffOfDebtIssuanceCostsAndFairMarketValueOfDebtAdjustments
1819000
CY2023Q1 sitc Amortization And Write Off Of Debt Issuance Costs And Fair Market Value Of Debt Adjustments
AmortizationAndWriteOffOfDebtIssuanceCostsAndFairMarketValueOfDebtAdjustments
1111000
CY2024Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
760000
CY2023Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
CY2024Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-4096000
CY2023Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
0
CY2024Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
17000
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1359000
CY2024Q1 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain Or Loss
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss
0
CY2023Q1 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Remeasurement Gain Or Loss
BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss
3749000
CY2024Q1 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
31714000
CY2023Q1 us-gaap Gain Loss On Sale Of Properties
GainLossOnSaleOfProperties
205000
CY2024Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
66600000
CY2023Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2024Q1 sitc Assumption Of Building Due To Ground Lease Termination
AssumptionOfBuildingDueToGroundLeaseTermination
1952000
CY2023Q1 sitc Assumption Of Building Due To Ground Lease Termination
AssumptionOfBuildingDueToGroundLeaseTermination
0
CY2024Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-7790000
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-4819000
CY2024Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-15643000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-16205000
CY2024Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
11896000
CY2023Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
13323000
CY2024Q1 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
63504000
CY2023Q1 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
26865000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
39952000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
42167000
CY2024Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
18065000
CY2023Q1 us-gaap Payments To Acquire Real Estate
PaymentsToAcquireRealEstate
26503000
CY2024Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
19813000
CY2023Q1 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
27990000
CY2024Q1 sitc Proceeds From Sale Of Joint Venture Interests
ProceedsFromSaleOfJointVentureInterests
0
CY2023Q1 sitc Proceeds From Sale Of Joint Venture Interests
ProceedsFromSaleOfJointVentureInterests
3405000
CY2024Q1 us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
115329000
CY2023Q1 us-gaap Proceeds From Real Estate And Real Estate Joint Ventures
ProceedsFromRealEstateAndRealEstateJointVentures
0
CY2024Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
44000
CY2023Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
56000
CY2024Q1 sitc Repayments Of Joint Venture Advances Net
RepaymentsOfJointVentureAdvancesNet
-730000
CY2023Q1 sitc Repayments Of Joint Venture Advances Net
RepaymentsOfJointVentureAdvancesNet
-318000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
78137000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-50826000
CY2024Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
0
CY2023Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
75000000
CY2024Q1 us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
3183000
CY2023Q1 us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
0
CY2024Q1 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
60758000
CY2023Q1 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
0
CY2024Q1 sitc Repayments Of Term Loan And Mortgage Debt
RepaymentsOfTermLoanAndMortgageDebt
134000
CY2023Q1 sitc Repayments Of Term Loan And Mortgage Debt
RepaymentsOfTermLoanAndMortgageDebt
314000
CY2024Q1 sitc Proceeds From Repurchase Of Common Shares
ProceedsFromRepurchaseOfCommonShares
-2594000
CY2023Q1 sitc Proceeds From Repurchase Of Common Shares
ProceedsFromRepurchaseOfCommonShares
-4800000
CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
26611000
CY2024Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0
CY2023Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
18000
CY2024Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
63733000
CY2023Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
30353000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-130402000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
12904000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-12313000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
4245000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
569031000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
21214000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
556718000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
25459000
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:2.267%;font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates in Preparation of Financial Statements</span></p><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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>
CY2024Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
30200000
CY2023Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
30100000
CY2024Q1 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
8100000
CY2023Q1 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
10300000
CY2024Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
2000000
CY2023Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
0
CY2024Q1 sitc Business Acquisition Costs Of Acquired Entity Purchase Price Gross
BusinessAcquisitionCostsOfAcquiredEntityPurchasePriceGross
19110000
CY2024Q1 us-gaap Business Combination Pro Forma Information Revenue Of Acquiree Since Acquisition Date Actual
BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual
100000
CY2024Q1 sitc Schedule Of Reconciliation Of Consolidated Joint Venture Equity
ScheduleOfReconciliationOfConsolidatedJointVentureEquity
<p style="text-indent:4.533%;font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:10pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">A reconciliation of the consolidated joint venture equity is as follows (in thousands):</span></p> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:65.573%;"></td> <td style="width:1%;"></td> <td style="width:14.423%;"></td> <td style="width:1%;"></td> <td style="width:1.58%;"></td> <td style="width:1%;"></td> <td style="width:14.423%;"></td> <td style="width:1%;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;white-space:pre-wrap;word-break:break-word;"> <td style="vertical-align:bottom;"><p style="font-size:8.5pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">March 31, 2024</span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;min-width:fit-content;">December 31, 2023</span></p></td> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Company's share of accumulated equity</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">35,365</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:8.5pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">35,782</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Basis differentials</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">1,367</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:8.5pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">1,099</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Deferred development fees, net of portion related to the Company's interest</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">(</span><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">132</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">)</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:8.5pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">(</span><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">136</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">)</span></p></td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Amounts payable to the Company</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid #000000;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">2,007</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:8.5pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid #000000;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">2,627</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">Investments in and Advances to Joint Ventures, net</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double #000000;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">38,607</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double #ffffff03;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:8.5pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double #000000;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double #000000;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="color:#000000;white-space:pre-wrap;min-width:fit-content;">39,372</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double #ffffff03;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="min-width:fit-content;"> </span></p></td> </tr> </table>
CY2024Q1 sitc Company Share In Accumulated Equity Of Unconsolidated Joint Ventures
CompanyShareInAccumulatedEquityOfUnconsolidatedJointVentures
35365000
CY2023Q4 sitc Company Share In Accumulated Equity Of Unconsolidated Joint Ventures
CompanyShareInAccumulatedEquityOfUnconsolidatedJointVentures
35782000
CY2024Q1 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
1367000
CY2023Q4 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
1099000
CY2024Q1 sitc Equity Method Investment Difference Between Carrying Amount And Underlying Equity Deferred Development Fees Net Of Portion Relating To Company Interest
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquityDeferredDevelopmentFeesNetOfPortionRelatingToCompanyInterest
132000
CY2023Q4 sitc Equity Method Investment Difference Between Carrying Amount And Underlying Equity Deferred Development Fees Net Of Portion Relating To Company Interest
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquityDeferredDevelopmentFeesNetOfPortionRelatingToCompanyInterest
136000
CY2024Q1 us-gaap Other Receivables
OtherReceivables
2007000
CY2023Q4 us-gaap Other Receivables
OtherReceivables
2627000
CY2024Q1 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
38607000
CY2023Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
39372000
CY2024Q1 sitc Fee And Other Income Earned From Unconsolidated Joint Ventures
FeeAndOtherIncomeEarnedFromUnconsolidatedJointVentures
1400000
CY2023Q1 sitc Fee And Other Income Earned From Unconsolidated Joint Ventures
FeeAndOtherIncomeEarnedFromUnconsolidatedJointVentures
1800000
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
61908000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
68990000
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
17107000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
17373000
CY2024Q1 sitc Loan Commitment Fees
LoanCommitmentFees
16011000
CY2023Q4 sitc Loan Commitment Fees
LoanCommitmentFees
13485000
CY2024Q1 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
12941000
CY2023Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
5104000
CY2024Q1 sitc Swap Receivables
SwapReceivables
9722000
CY2023Q4 sitc Swap Receivables
SwapReceivables
11115000
CY2024Q1 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
1584000
CY2023Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
2294000
CY2024Q1 us-gaap Deposits Assets
DepositsAssets
2760000
CY2023Q4 us-gaap Deposits Assets
DepositsAssets
2857000
CY2024Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
4774000
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5325000
CY2024Q1 us-gaap Other Assets
OtherAssets
126807000
CY2023Q4 us-gaap Other Assets
OtherAssets
126543000
CY2024Q1 us-gaap Below Market Lease Net
BelowMarketLeaseNet
43241000
CY2023Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
46096000
CY2024Q1 sitc Amortization Of Intangible Assets Excluding Above And Below Market Leases
AmortizationOfIntangibleAssetsExcludingAboveAndBelowMarketLeases
4700000
CY2023Q1 sitc Amortization Of Intangible Assets Excluding Above And Below Market Leases
AmortizationOfIntangibleAssetsExcludingAboveAndBelowMarketLeases
6200000
CY2024Q1 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
9700000
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
11100000
CY2024Q1 us-gaap Senior Notes
SeniorNotes
1242191000
CY2023Q4 us-gaap Senior Notes
SeniorNotes
1303243000
CY2024Q1 sitc Revolving Credit Facility And Term Loan
RevolvingCreditFacilityAndTermLoan
198940000
CY2023Q4 sitc Revolving Credit Facility And Term Loan
RevolvingCreditFacilityAndTermLoan
198856000
CY2024Q1 us-gaap Notes And Loans Payable
NotesAndLoansPayable
124100000
CY2023Q4 us-gaap Notes And Loans Payable
NotesAndLoansPayable
124176000
CY2024Q1 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
1565231000
CY2023Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
1626275000
CY2024Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
3895000
CY2024Q1 sitc Amounts Reclassified From Accumulated Other Comprehensive Income To Interest Expense
AmountsReclassifiedFromAccumulatedOtherComprehensiveIncomeToInterestExpense
1293000
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-23552000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
15302000
CY2024Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0
CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
18000
CY2024Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2789000
CY2023Q1 us-gaap Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
2789000
CY2024Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
131000
CY2023Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
107000
CY2024Q1 sitc Net Income Loss Attributable To Common Shareholders After Allocation To Participating Securities
NetIncomeLossAttributableToCommonShareholdersAfterAllocationToParticipatingSecurities
-26472000
CY2023Q1 sitc Net Income Loss Attributable To Common Shareholders After Allocation To Participating Securities
NetIncomeLossAttributableToCommonShareholdersAfterAllocationToParticipatingSecurities
12388000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
209419000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
209971000
CY2024Q1 sitc Performance Restricted Stock Units
PerformanceRestrictedStockUnits
0
CY2023Q1 sitc Performance Restricted Stock Units
PerformanceRestrictedStockUnits
436000
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
209419000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
210407000
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.06
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.13
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06
CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.13
CY2023Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.13
CY2024Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
66600000

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