$SITC
SITE Centers Corp.

2018 Q1 Form 10-Q Financial Statement

#000156459018010890 Filed on May 04, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $215.1M $240.4M
YoY Change -10.55% -5.5%
Cost Of Revenue $65.00M $67.30M
YoY Change -3.42% -7.81%
Gross Profit $150.0M $173.1M
YoY Change -13.34% -4.58%
Gross Profit Margin 69.75% 72.0%
Selling, General & Admin $12.80M $31.10M
YoY Change -58.84% 73.74%
% of Gross Profit 8.53% 17.97%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $74.40M $90.90M
YoY Change -18.15% -6.19%
% of Gross Profit 49.6% 52.51%
Operating Expenses $183.5M $121.9M
YoY Change 50.54% -35.1%
Operating Profit $150.0M $173.1M
YoY Change -13.33% -4.56%
Interest Expense $44.04M -$45.10M
YoY Change -197.65% -177.9%
% of Operating Profit 29.36% -26.05%
Other Income/Expense, Net -$100.3M -$76.00M
YoY Change 31.98% 61.45%
Pretax Income -$68.75M -$91.90M
YoY Change -25.19% -370.69%
Income Tax $0.00 $200.0K
% Of Pretax Income
Net Earnings -$54.15M -$54.24M
YoY Change -0.16% -219.02%
Net Earnings / Revenue -25.18% -22.56%
Basic Earnings Per Share -$0.34 -$0.33
Diluted Earnings Per Share -$0.34 -$0.33
COMMON SHARES
Basic Shares Outstanding 184.6M 183.2M
Diluted Shares Outstanding 184.6M 183.2M

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $17.00M $20.00M
YoY Change -15.0% -16.67%
Cash & Equivalents $65.82M $66.30M
Short-Term Investments
Other Short-Term Assets $26.00M $33.00M
YoY Change -21.21% -15.38%
Inventory
Prepaid Expenses
Receivables $100.0M $118.0M
Other Receivables $66.00M $0.00
Total Short-Term Assets $209.0M $171.0M
YoY Change 22.22% -9.04%
LONG-TERM ASSETS
Property, Plant & Equipment $6.111B $7.181B
YoY Change -14.9% -9.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $334.0M $395.0M
YoY Change -15.44% -15.42%
Other Assets $57.00M $51.00M
YoY Change 11.76% 218.75%
Total Long-Term Assets $6.701B $7.922B
YoY Change -15.41% -9.44%
TOTAL ASSETS
Total Short-Term Assets $209.0M $171.0M
Total Long-Term Assets $6.701B $7.922B
Total Assets $6.910B $8.093B
YoY Change -14.62% -9.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $318.0M $369.0M
YoY Change -13.82% -5.38%
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 $397.0M $444.0M
YoY Change -10.59% -4.52%
LONG-TERM LIABILITIES
Long-Term Debt $3.742B $4.521B
YoY Change -17.23% -10.16%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $3.742B $4.521B
YoY Change -17.23% -10.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $397.0M $444.0M
Total Long-Term Liabilities $3.742B $4.521B
Total Liabilities $4.143B $4.974B
YoY Change -16.71% -9.65%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.767B $3.119B
YoY Change
Total Liabilities & Shareholders Equity $6.910B $8.093B
YoY Change -14.62% -9.43%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$54.15M -$54.24M
YoY Change -0.16% -219.02%
Depreciation, Depletion And Amortization $74.40M $90.90M
YoY Change -18.15% -6.19%
Cash From Operating Activities $57.76M $91.90M
YoY Change -37.15% 12.35%
INVESTING ACTIVITIES
Capital Expenditures -$34.70M -$114.2M
YoY Change -69.61% 6.93%
Acquisitions
YoY Change
Other Investing Activities $188.2M $94.70M
YoY Change 98.73% -53.56%
Cash From Investing Activities $153.5M -$19.40M
YoY Change -891.41% -119.98%
FINANCING ACTIVITIES
Cash Dividend Paid $78.55M $75.25M
YoY Change 4.38% 9.64%
Common Stock Issuance & Retirement, Net -$5.149M $3.500M
YoY Change -247.11%
Debt Paid & Issued, Net $678.7M $63.30M
YoY Change 972.2% 693.36%
Cash From Financing Activities -240.2M -45.40M
YoY Change 429.08% -74.38%
NET CHANGE
Cash From Operating Activities 57.76M 91.90M
Cash From Investing Activities 153.5M -19.40M
Cash From Financing Activities -240.2M -45.40M
Net Change In Cash -28.91M 27.10M
YoY Change -206.66% 1494.12%
FREE CASH FLOW
Cash From Operating Activities $57.76M $91.90M
Capital Expenditures -$34.70M -$114.2M
Free Cash Flow $92.46M $206.1M
YoY Change -55.14% 9.28%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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4000000
CY2018Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
25582000
CY2018Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
97241000
CY2018Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
41684000
CY2018Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1513412000
CY2018Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
453724000
CY2018Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
1653680000
CY2018Q1 ddr Long Term Debt Maturing Net Before Fair Market Value Of Debt Adjustment
LongTermDebtMaturingNetBeforeFairMarketValueOfDebtAdjustment
3785323000
CY2018Q1 ddr Long Term Debt Fair Market Value Of Debt Adjustment
LongTermDebtFairMarketValueOfDebtAdjustment
2292000
CY2018Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
46095000
CY2018Q1 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
257000000
CY2017Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
297900000
CY2018Q1 ddr Revolving Credit Facilities And Term Loans
RevolvingCreditFacilitiesAndTermLoans
318452000
CY2017Q4 ddr Revolving Credit Facilities And Term Loans
RevolvingCreditFacilitiesAndTermLoans
398130000
CY2018Q1 ddr Assets Marketed For Sale
AssetsMarketedForSale
30400000
CY2017Q1 ddr Assets Marketed For Sale
AssetsMarketedForSale
22000000
CY2018Q1 ddr Impairment Charges Including Discontinued Operations And Investment
ImpairmentChargesIncludingDiscontinuedOperationsAndInvestment
34400000
CY2017Q1 ddr Impairment Charges Including Discontinued Operations And Investment
ImpairmentChargesIncludingDiscontinuedOperationsAndInvestment
98000000
CY2018Q1 ddr Impaired Long Lived Assets Held And Used Fair Value Disclosure
ImpairedLongLivedAssetsHeldAndUsedFairValueDisclosure
201100000
CY2018Q1 ddr Fair Value Of Preferred Equity Interests
FairValueOfPreferredEquityInterests
232000000
CY2018Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
203000
CY2017Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
251000
CY2018Q1 ddr Net Income Loss Attributable To Common Shareholders After Allocation To Participating Securities
NetIncomeLossAttributableToCommonShareholdersAfterAllocationToParticipatingSecurities
-62739000
CY2017Q1 ddr Net Income Loss Attributable To Common Shareholders After Allocation To Participating Securities
NetIncomeLossAttributableToCommonShareholdersAfterAllocationToParticipatingSecurities
-60086000
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
369120
CY2017Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
366430
CY2018Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
207525000
CY2018Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
7543000
CY2018Q1 ddr Rental Operating Expense
RentalOperatingExpense
61780000
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
153288000
CY2018Q1 ddr Segment Reporting Information Unallocated Expense
SegmentReportingInformationUnallocatedExpense
60137000
CY2018Q1 ddr Adjustment Reserve Of Preferred Equity Interests
AdjustmentReserveOfPreferredEquityInterests
-3961000
CY2018Q1 ddr Segment Reporting Information Gross Assets
SegmentReportingInformationGrossAssets
8074030000
CY2017Q1 us-gaap Operating Leases Income Statement Lease Revenue
OperatingLeasesIncomeStatementLeaseRevenue
231797000
CY2017Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
8624000
CY2017Q1 ddr Rental Operating Expense
RentalOperatingExpense
67320000
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
173101000
CY2017Q1 ddr Segment Reporting Information Unallocated Expense
SegmentReportingInformationUnallocatedExpense
83122000
CY2017Q1 ddr Adjustment Reserve Of Preferred Equity Interests
AdjustmentReserveOfPreferredEquityInterests
-76000000
CY2017Q1 ddr Segment Reporting Information Gross Assets
SegmentReportingInformationGrossAssets
9185537000
CY2017Q1 us-gaap Notes Receivable Net
NotesReceivableNet
49895000

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