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YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
to time party thereto, U.S. Bank National Association, as Administrative Agent, and the other entities named therein
10.22(11)
First Amendment, dated as of May 23, 2017, to the Note Purchase Agree... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Series E)
10.24(12)
Note Purchase Agreement, dated as of July 19, 2017, by and among American Assets Trust, Inc., American Assets Trust, L.P. and the purchasers named therein. (Series F)
10.25(13)... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
.S. Bank National Association, as Administrative Agent.
10.32(14)
First Amendment to Second Amended and Restated Credit Agreement dated January 9, 2019, by and among the American Assets Trust, Inc.... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
10.35(16)
Equity Distribution Agreement, dated December 3, 2021, by and among American Assets Trust, Inc., American Assets Trust, L.P., and BofA Securities, Inc.
10.36(16)
Equity Distribution Agre... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, Inc., American Assets Trust, L.P., and BTIG, LLC
10.39(17)
Third Amended and Restated Credit Agreement dated January 5, 2022, by and among American Assets Trust, Inc., American Assets Trust, L.P.... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
idiary Guarantors and Issuers of Guaranteed Securities
23.1*
Consent of Independent Registered Public Accounting Firm for American Assets Trust, Inc.
23.2*
Consent of Independent Registered Publi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
.
31.4*
Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 of American Assets Trust, L.P.
32.1*
Certification of Chief Executive Officer and Chief ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL Document.
101.SCH*
Inline XBRL Taxonomy Extension Schema Doc... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
-11, as amended (File No. 333-169326), filed with the Securities and Exchange Commission on September 13, 2010.
(2) Incorporated herein by reference to American Assets Trust, Inc.'s Current Repor... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2011.
(5) Incorporated herein by reference to American Assets Trust, Inc’s Current Report on Form 8-K filed with the Securities and Exchange Commission on October 10, 2012.
(6) Incorporated ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
8-K filed with the Securities and Exchange Commission on October 31, 2014.
(9) Incorporated herein by reference to American Assets Trust, Inc's Current Report on Form 10-Q filed with the Securiti... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
to American Assets Trust, Inc's Current Report on Form 8-K filed with the Securities and Exchange Commission on July 19, 2017.
(13) Incorporated herein by reference to American Assets Trust, Inc... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
(16) Incorporated herein by reference to American Assets Trust, Inc's Current Report on Form 8-K filed with the Securities and Exchange Commission on December 3, 2021.
(17) Incorporated herein... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, as amended, the Registrants have duly caused this Report to be signed on their behalf by the undersigned thereunto duly authorized this 10
th
day of February, 2023.
American Assets Trust, Inc.
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Chief Financial Officer
(Principal Financial and Accounting Officer)
(Principal Financial and Accounting Officer)
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
L. Schaefer
/s/ NINA TRAN
Director
February 10, 2023
Nina Tran
/s/ THOMAS S. OLINGER
Director
February 10, 2023
Thomas S. Olinger
/s/ ROBERT S. SULLIVAN
Director
February 10, 2023
Robert... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
9
Consolidated Statements of Comprehensive Income for the years ended December 31, 2022, 2021, and 2020
F-10
Consolidated Statements of Equity for the years ended December 31, 2022, 2021, and 2020... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
F-14
Consolidated Statements of Partners' Capital for the years ended December 31, 2022, 2021, and 2020
F-15
Consolidated Statements of Cash Flows for the years ended December 31, 2022, 2021, and ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
balance sheets of American Assets Trust, Inc. (the Company) as of December 31, 2022 and 2021, the related consolidated statements of comprehensive income, equity, and cash flows for each of the thre... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
U.S. generally accepted accounting principles.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s interna... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance w... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
statements. We believe that our audits provide a reasonable basis for our opinion.
Critical Audit Matters
The critical audit matters communicated below are matters arising from the current period ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Company’s net real estate properties totaled $2.73 billion as of December 31, 2022. As discussed in Note 1 to the consolidated financial statements, the Company reviews for impairment on a property ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
assessment for real estate properties is challenging because of the subjective auditor judgment necessary in evaluating management’s identification of indicators of potential impairment and the rela... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
we searched for tenants or groups of tenants with large reserved balances or upcoming lease expirations that occupy a substantial portion of any particular property and searched for significant decl... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the acquisition to the assets acquired and liabilities assumed consists of use of the income, sales comparison and cost approaches. For acquired operating real estate properties, the purchase price ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
tested the operating effectiveness of controls over the Company’s accounting for acquisitions process. For example, we tested controls over the valuation of acquired land, buildings and intangible a... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Also, with the assistance of our specialists, we evaluated the incorporation of the key assumptions in the aforementioned models and tested such models for clerical accuracy.
/s/ Ernst & Young LLP
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
(the COSO criteria). In our opinion, American Assets Trust, Inc. (the Company) maintained, in all material respects, effective internal control over financial reporting as of December 31, 2022, base... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2023 expressed an unqualified opinion thereon.
Basis for Opinion
American Assets Trust, Inc.’s management is responsible for maintaining effective internal control over financial reporting and for ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
effective internal control over financial reporting was maintained in all material respects.
Our audit included obtaining an understanding of internal control over financial reporting, assessing th... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparati... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
compliance with the policies or procedures may deteriorate.
/s/ Ernst & Young LLP
San Diego, California
February 10, 2023
F-5
Report of Independent Registered Public Accounting Firm
To the Par... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2022 and 2021, and t... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the finan... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matters o... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, at which time the property is written down to its estimated fair value. Properties classified as held for sale are recorded at the lower of the carrying amount or the expected sales price less cost... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
tested controls over management’s process for identifying and evaluating potential impairment indicators.Our testing of the Company’s impairment assessment included, among other procedures, evaluati... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
pring 520 for a purchase price of approximately $45.5 million. As discussed in Note 1 and Note 2 to the consolidated financial statements, the Company accounted for the purchase as an asset acquisiti... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and buildings and intangible assets such as in-place leases. The significant estimation was primarily due to the judgmental nature of inputs, including discount rates, capitalization rates and certa... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
real estate valuation specialists assisted us in evaluating the methodologies used by the Company and testing the consistency of the selected discount rates, capitalization rates and various market ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
31, 2021
ASSETS
Real estate, at cost
Operating real estate
3,468,537
3,389,726
Construction in progress
202,385
139,098
Held for development
547
547
3,671,469
3,529,371
Accumulated dep... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2,987,881
3,017,927
LIABILITIES AND EQUITY
LIABILITIES:
Secured notes payable, net
74,578
110,965
Unsecured notes payable, net
1,539,453
1,538,238
Unsecured line of credit, net
34,057
Acc... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
01 par value, 490,000,000 shares authorized, 60,718,653 and 60,525,580 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively
607
605
Additional paid-in capital
1,... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,123
TOTAL LIABILITIES AND EQUITY
2,987,881
3,017,927
The accompanying notes are an integral part of these consolidated financial statements.
F-9
American Assets Trust, Inc.
Consolidated State... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,788
42,794
41,941
General and administrative
32,143
29,879
26,581
Depreciation and amortization
123,338
116,306
108,292
Total operating expenses
307,914
275,959
255,992
OPERATING INCO... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
)
(383)
Net income attributable to unitholders in the Operating Partnership
(11,723)
(7,653)
(7,545)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS
43,506
28,376
27,660
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
0.46
Weighted average shares of common stock outstanding - diluted
76,230,507
76,172,277
76,119,763
COMPREHENSIVE INCOME
Net income
55,877
36,593
35,588
Other comprehensive gain (loss) - un... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
30,609
Comprehensive income attributable to noncontrolling interest
(13,813)
(7,966)
(6,496)
Comprehensive income attributable to American Assets Trust, Inc.
51,906
30,059
24,113
The accom... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, 2019
60,068,228
601
1,452,014
(144,378)
5,680
(20,245)
1,293,672
Net income
28,043
7,545
35,588
Issuance of restricted stock
317,574
(3)
Forfeiture of restricted stock
(95,086)
(1)... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
- change in value of interest rate swaps
(2,885)
(764)
(3,649)
Reclassification of amortization of forward starting swaps included in interest expense
(1,045)
(285)
(1,330)
Balance at Decemb... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,936)
Stock-based compensation
8,493
8,493
Shares withheld for employee taxes
(25,141)
(865)
(865)
Other comprehensive income - change in values of interest rate swaps
2,135
588
2,723
Rec... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
44,154
11,723
55,877
Issuance of restricted stock
325,682
(3)
Forfeiture of restricted stock
(106,796)
(1)
Dividends declared and paid
(77,536)
(20,712)
(98,248)
Stock-based compensation... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
60,718,653
607
1,461,201
(251,167)
10,624
(35,740)
1,185,525
The accompanying notes are an integral part of these consolidated financial statements.
F-11
American Assets Trust, Inc.
Consoli... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
116,306
108,292
Amortization of debt issuance costs and debt fair value adjustments
2,581
2,753
1,477
Provision for uncollectable rental income
2,334
(2,289)
18,427
Early extinguishment o... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
in accounts payable and accrued expenses
(1,237)
15,331
(2,108)
Change in security deposits payable
655
443
(1,726)
Change in other liabilities and deferred credits
1,179
1,464
(1,206)
N... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,723
Net cash used in investing activities
(166,321)
(312,278)
(69,077)
FINANCING ACTIVITIES
Issuance of secured notes payable
75,000
Repayment of secured notes payable
(111,000)
(51,003)
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,936)
(76,510)
Shares withheld for employee taxes
(759)
(865)
(672)
Net cash (used in) provided by financing activities
(102,704)
144,424
(28,310)
Net (decrease) increase in cash, cash equi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of cash flows:
Year ended December 31,
2022
2021
2020
Cash and cash equivalents
49,571
139,524
137,333
Restricted cash
1,716
Total cash, cash equivalents and restricted cash shown in Stat... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,098
Held for development
547
547
3,671,469
3,529,371
Accumulated depreciation
(936,913)
(847,390)
Net real estate
2,734,556
2,681,981
Cash and cash equivalents
49,571
139,524
Accounts... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, net
1,539,453
1,538,238
Unsecured line of credit, net
34,057
Accounts payable and accrued expenses
65,992
64,531
Security deposits payable
8,699
7,855
Other liabilities and deferred cred... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,653 and 60,525,580 units issued and outstanding as of December 31, 2022 and December 31, 2021, respectively
1,210,641
1,236,092
Accumulated other comprehensive income
14,011
4,169
Total capita... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ental income
402,507
360,208
330,312
Other property income
20,141
15,620
14,261
Total revenue
422,648
375,828
344,573
EXPENSES:
Rental expenses
107,645
86,980
79,178
Real estate taxe... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
58,232)
(58,587)
(53,440)
Loss on early extinguishment of debt
(4,271)
Other (expense) income, net
(625)
(418)
447
NET INCOME
55,877
36,593
35,588
Net income attributable to restricted s... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
EARNINGS PER UNIT - DILUTED
Earnings per unit, diluted
0.72
0.47
0.46
Weighted average units outstanding, diluted
76,230,507
76,172,277
76,119,763
DISTRIBUTIONS PER UNIT
1.28
1.16
1.00
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
)
(1,330)
Reclassification of amortization of forward-starting swap realized gain included in loss on early extinguishment of debt
(193)
Comprehensive income
65,719
38,025
30,609
Comprehensiv... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Units
Amount
Units
Amount
Balance at December 31, 2019
16,390,548
(22,281)
60,068,228
1,308,237
7,716
1,293,672
Net income
7,545
28,043
35,588
Conversion of operating partnership units... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
)
(672)
Other comprehensive loss - change in value of interest rate swaps
(3,649)
(3,649)
Reclassification of amortization of forward starting swaps included in interest expense
(1,330)
(1,330... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
8,493
Units withheld for employee taxes
(25,141)
(865)
(865)
Other comprehensive income - change in value of interest rate swaps
2,723
2,723
Reclassification of amortization of forward star... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
325,682
Forfeiture of restricted units
(106,796)
Distributions
(20,712)
(77,536)
(98,248)
Stock-based compensation
8,690
8,690
Units withheld for employee taxes
(25,813)
(759)
(759)
O... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
) Consists of limited partnership interests held by third parties.
(2) Consists of general and limited partnership interests held by American Assets Trust, Inc.
The accompanying notes are an integr... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,306
108,292
Amortization of debt issuance costs and debt fair value adjustments
2,581
2,753
1,477
Provision for uncollectable rental income
2,334
(2,289)
18,427
Early extinguishment of deb... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
141
Change in accounts payable and accrued expenses
(1,237)
15,331
(2,108)
Change in security deposits payable
655
443
(1,726)
Change in other liabilities and deferred credits
1,179
1,46... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
able securities
47,723
Net cash used in investing activities
(166,321)
(312,278)
(69,077)
FINANCING ACTIVITIES
Issuance of secured notes payable
75,000
Repayment of secured notes payable
(1... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,510)
Shares withheld for employee taxes
(759)
(865)
(672)
Net cash (used in) provided by financing activities
(102,704)
144,424
(28,310)
Net (decrease) increase in cash, cash equivalents an... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Year ended December 31,
2022
2021
2020
Cash and cash equivalents
49,571
139,524
137,333
Restricted cash
1,716
Total cash, cash equivalents and restricted cash shown in Statement of Cash Flo... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
a Maryland corporation formed on July 16, 2010 that did not have any operating activity until the consummation of our initial public offering (the “Offering”) and the related acquisition on January ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
's operations are carried on through our Operating Partnership and its subsidiaries, including our taxable REIT subsidiary. Since the formation of our Operating Partnership, the company has controlle... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Board.
As of December 31, 2022, we owned or had a controlling interest in 31 office, retail, multifamily and mixed-use operating properties, the operations of which we consolidate. Additionally, as... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
La Jolla Commons
One Beach Street
Corporate Campus East III
Torrey Reserve Campus
First & Main
Bel-Spring 520
Torrey Point
Lloyd Portfolio
Solana Crossing
City Center Bellevue
The Landmark ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of Presentation
Our consolidated financial statements include the accounts of the company, our Operating Partnership and our subsidiaries. The equity interests of other investors in our Operating P... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
IE. American Assets Trust, Inc. has concluded that the Operating Partnership is a VIE, and because American Assets Trust, Inc. has both the power and the rights to control the Operating Partnership, ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and the direct and indirect economic effects of the virus and containment measures, among others. The outbreak of COVID-19 in many countries, including the United States, has significantly adversely... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
a potential worsening of global economic conditions and the continued disruptions to, and volatility in, the credit and financial markets, consumer spending as well as other unanticipated consequenc... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
related to the Consolidated Statements of Cash Flows (in thousands):
Year Ended December 31,
2022
2021
2020
Supplemental cash flow information
Total interest costs incurred
63,997
61,578
54... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
leasing commissions
2,442
2,628
555
Revenue Recognition and Accounts Receivable
Our leases with tenants are classified as operating leases. Substantially all such leases contain fixed rent esca... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
which we fund tenant improvements and the improvements are deemed to be owned by us, revenue recognition will commence when the improvements are substantially completed and possession or control of ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
which the related expenditures are incurred.
Other property income includes parking income, general excise tax billed to tenants and fees charged to tenants at our multifamily properties. Other pro... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
respectively. For a tenant to terminate its lease agreement prior to the end of the agreed term, we may require that they pay a fee to cancel the lease agreement. Lease termination fees for which t... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
longer term in nature and relates to the cumulative amount by which straight-line rental income recorded to date exceeds cash rents billed to date under the contractual lease agreement.
F-19
Table... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
receivable which requires significant judgment by management. The collectability of receivables is affected by numerous different factors including current economic trends, including the impact of t... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
recognize a charge to rental income and limit our rental income to the lesser of lease income on a straight-line basis plus variable rents when they become accruable or cash collected. If we change ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
31, 2022, 2021 and 2020, respectively.
Due to the impacts of COVID-19, in 2020 through 2022 we provided lease concessions to certain tenants, primarily within the retail segment, in the form of rent... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
When we acquire operating real estate properties, the purchase price is allocated to land and buildings, intangibles such as in-place leases, and to current assets and liabilities acquired, if any. ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
fixed rate renewal option was sufficiently lower than the fair rental of the property at the date the option becomes exercisable such that it would appear to be reasonably assured that the tenant wo... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ized to rental income over
F-20
Table of Contents
the respective renewal periods. If a tenant vacates its space prior to contractual termination of its lease or the lease is not renewed, the unamo... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
including pre-construction costs, real estate taxes, insurance and construction costs and salaries and related costs of personnel directly involved. Additionally, we capitalize interest costs relate... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
property may not be fully recoverable. Impairment is recognized on properties held for use when the expected undiscounted cash flows for a property are less than its carrying amount at which time th... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
31, 2021. There were no impairment charges during the years ended December 31, 2022, 2021 and 2020.
Financial Instruments
The estimated fair values of financial instruments are determined using av... |
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