Ares Commercial Real Estate Corporation (ACRE) Financial Statements (2024 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 thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments141,27850,61574,7765,25611,08928,343
Cash and cash equivalents141,27850,61574,7765,25611,08928,343
Receivables(65,969)(23,939)(23,604)   
Total current assets:75,30926,67651,1725,25611,08928,343
Noncurrent Assets
Other undisclosed assets2,447,6932,605,1621,878,3251,778,8781,592,2351,741,876
TOTAL ASSETS:2,523,0022,631,8381,929,4971,784,1341,603,3241,770,219
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities1,775,4621,953,2101,456,4821,357,7951,177,7371,351,049
Total liabilities:1,775,4621,953,2101,456,4821,357,7951,177,7371,351,049
Equity
Equity, attributable to parent747,540678,628473,015426,339425,587419,170
Common stock537465329283283283
Additional paid in capital812,788703,950497,803423,619421,739420,637
Accumulated other comprehensive income7,5412,844    
Retained earnings (accumulated deficit)(73,326)(28,631)(25,117)2,4373,565(1,750)
Total equity:747,540678,628473,015426,339425,587419,170
TOTAL LIABILITIES AND EQUITY:2,523,0022,631,8381,929,4971,784,1341,603,3241,770,219

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues106,849102,06982,69677,259118,28497,541
Net investment income170,171133,631121,052114,784118,28497,541
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(46,061)(10)(20,185)   
Gross profit:60,788102,05962,51177,259118,28497,541
Operating expenses(6,394)(4,741)(3,732)(4,188)(3,307)(2,828)
Operating income:54,39497,31858,77973,071114,97794,713
Interest and debt expense(65,994)(50,080)(6,434)(6,569)(63,002)(51,961)
Other undisclosed loss from continuing operations before equity method investments, income taxes   (30,153)(28,996)(12,933)(12,142)
Income (loss) from continuing operations before equity method investments, income taxes:(11,600)47,23822,19237,50639,04230,610
Other undisclosed income from continuing operations before income taxes41,85713,944    
Income from continuing operations before income taxes:30,25761,18222,19237,50639,04230,610
Income tax expense(472)(722)(352)(515)(446)(178)
Income from continuing operations:29,78560,46021,84036,99138,59630,432
Income before gain (loss) on sale of properties:60,46021,84036,99138,59630,432
Net income:29,78560,46021,84036,99138,59630,432
Net loss attributable to noncontrolling interest      (25)
Other undisclosed net income attributable to parent      25
Net income attributable to parent:29,78560,46021,84036,99138,59630,432
Other undisclosed net loss available to common stockholders, basic      (25)
Net income available to common stockholders, diluted:29,78560,46021,84036,99138,59630,407

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:29,78560,46021,84036,99138,59630,432
Comprehensive income:29,78560,46021,84036,99138,59630,432
Comprehensive loss, net of tax, attributable to noncontrolling interest      (25)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent4,6972,844    
Comprehensive income (loss), net of tax, attributable to parent:34,48263,30421,84036,99138,59630,407

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.

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