Ares Commercial Real Estate Corporation (ACRE) Financial Statements (2023 and Earlier)
Company Profile
| Business Address |
245 PARK AVENUE NEW YORK, NY 10167 |
| State of Incorp. | MD |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6798 - Real Estate Investment Trusts (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 51 | 75 | 5 | 11 | 28 | 47 | 9 | ||
| Cash and cash equivalents | 51 | 75 | 5 | 11 | 28 | 47 | 9 | ||
| Receivables | (24) | (24) | |||||||
| Total current assets: | 27 | 51 | 5 | 11 | 28 | 47 | 9 | ||
| Noncurrent Assets | |||||||||
| Intangible assets, net (including goodwill) | 6 | ||||||||
| Intangible assets, net (excluding goodwill) | 6 | ||||||||
| Total noncurrent assets: | 6 | ||||||||
| Other undisclosed assets | 2,605 | 1,878 | 1,779 | 1,592 | 1,742 | 1,326 | 1,364 | ||
| TOTAL ASSETS: | 2,632 | 1,929 | 1,784 | 1,603 | 1,770 | 1,374 | 1,379 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Debt | 25 | ||||||||
| Total current liabilities: | 25 | ||||||||
| Noncurrent Liabilities | |||||||||
| Other undisclosed liabilities | 1,953 | 1,456 | 1,358 | 1,178 | 1,351 | 944 | 898 | ||
| Total liabilities: | 1,953 | 1,456 | 1,358 | 1,178 | 1,351 | 944 | 922 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 679 | 473 | 426 | 426 | 419 | 419 | 409 | ||
| Common stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Additional paid in capital | 704 | 498 | 424 | 422 | 421 | 420 | 421 | ||
| Accumulated other comprehensive income | 3 | ||||||||
| Retained earnings (accumulated deficit) | (29) | (25) | 2 | 4 | (2) | (1) | (12) | ||
| Stockholders' equity attributable to noncontrolling interest | 11 | 47 | |||||||
| Total stockholders' equity: | 679 | 473 | 426 | 426 | 419 | 430 | 456 | ||
| TOTAL LIABILITIES AND EQUITY: | 2,632 | 1,929 | 1,784 | 1,603 | 1,770 | 1,374 | 1,379 | ||
Income Statement (P&L) ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 102 | 83 | 77 | 118 | 98 | 45 | 85 | |
| Net investment income | 134 | 121 | 115 | 118 | 98 | 82 | 86 | |
| Financial services revenue | ✕ | ✕ | ✕ | ✕ | 16 | |||
| Cost of revenue (Provision for Loan, Lease, and Other Losses) | (0) | (20) | ||||||
| Gross profit: | 102 | 63 | 77 | 118 | 98 | 45 | 85 | |
| Operating expenses | (5) | (4) | (4) | (3) | (3) | (3) | (7) | |
| Operating income: | 97 | 59 | 73 | 115 | 95 | 42 | 79 | |
| Interest and debt expense | (50) | (6) | (7) | (63) | (52) | (6) | (10) | |
| Other undisclosed loss from continuing operations before equity method investments, income taxes | (30) | (29) | (13) | (12) | (5) | (24) | ||
| Income from continuing operations before equity method investments, income taxes: | 47 | 22 | 38 | 39 | 31 | 31 | 45 | |
| Other undisclosed income from continuing operations before income taxes | 14 | |||||||
| Income from continuing operations before income taxes: | 61 | 22 | 38 | 39 | 31 | 31 | 45 | |
| Income tax expense | (1) | (0) | (1) | (0) | (0) | (0) | (2) | |
| Income from continuing operations: | 60 | 22 | 37 | 39 | 30 | 30 | 43 | |
| Income from discontinued operations | 4 | |||||||
| Income before gain (loss) on sale of properties: | 60 | 22 | 37 | 39 | 30 | 35 | 43 | |
| Other undisclosed net income | 10 | |||||||
| Net income: | 60 | 22 | 37 | 39 | 30 | 45 | 43 | |
| Net loss attributable to noncontrolling interest | (0) | (5) | (9) | |||||
| Other undisclosed net income attributable to parent | 0 | 5 | 9 | |||||
| Net income attributable to parent: | 60 | 22 | 37 | 39 | 30 | 45 | 43 | |
| Other undisclosed net loss available to common stockholders, basic | (0) | (5) | (9) | |||||
| Net income available to common stockholders, diluted: | 60 | 22 | 37 | 39 | 30 | 40 | 34 | |
Comprehensive Income ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 60 | 22 | 37 | 39 | 30 | 45 | 43 | |
| Comprehensive income: | 60 | 22 | 37 | 39 | 30 | 45 | 43 | |
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (0) | (5) | (9) | |||||
| Other undisclosed comprehensive income, net of tax, attributable to parent | 3 | |||||||
| Comprehensive income, net of tax, attributable to parent: | 63 | 22 | 37 | 39 | 30 | 40 | 34 | |
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.