Armada Hoffler Properties, Inc. (AHH) Financial Statements (2024 and earlier)

Company Profile

Business Address 222 CENTRAL PARK AVENUE
VIRGINIA BEACH, VA 23462
State of Incorp. MD
Fiscal Year End December 31
Industry (SIC) 65 - Real Estate (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 investments48,13935,24740,99839,23221,25419,959
Cash and cash equivalents48,13935,24740,99839,23221,25419,959
Total current assets:48,13935,24740,99839,23221,25419,959
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization45,87846,98923,544 
Operating lease, right-of-use asset23,35023,49332,760 
Property, plant and equipment1,948,5751,749,9511,763,1171,613,5891,194,5471,015,649
Long-term investments and receivables71,98312,6851,078 22,20311,411
Long-term investments71,98312,6851,078 22,20311,411
Regulated entity, other noncurrent assets   (10,004)9,4045,310 
Deferred costs   3,3032,8553,5924,217
Total noncurrent assets:2,089,7861,833,1181,813,7981,625,8481,225,6521,031,277
Other undisclosed assets104,38569,69862,175139,81718,476(8,113)
TOTAL ASSETS:2,242,3101,938,0631,916,9711,804,8971,265,3821,043,123
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 19,77717,24511,75317,47713,52711,887
Interest and dividends payable17,24511,75317,47713,52711,887
Accrued liabilities 19,777     
Total current liabilities: 19,77717,24511,75317,47713,52711,887
Noncurrent Liabilities
Other undisclosed liabilities1,318,5191,140,9951,148,4161,131,973795,965610,953
Total liabilities:1,338,2961,158,2401,160,1691,149,450809,492622,840
Equity
Equity, attributable to parent, including:647,450555,352523,199408,577273,871226,690
Preferred stock171,085171,085171,08563,250  
Common stock677630591563500449
Additional paid in capital587,884525,030472,747455,680357,353287,407
Accumulated other comprehensive income (loss)14,679(33)(8,868)(4,240)(1,283) 
Other undisclosed equity, attributable to parent(126,875)(141,360)(112,356)(106,676)(82,699)(61,166)
Equity, attributable to noncontrolling interest256,564224,471233,603246,870182,019193,593
Total equity:904,014779,823756,802655,447455,890420,283
TOTAL LIABILITIES AND EQUITY:2,242,3101,938,0631,916,9711,804,8971,265,3821,043,123

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
Revenues454,153284,076383,634257,198193,317302,771
Operating leases, income statement, lease revenue151,339116,958
Revenue, net302,771
Operating lease, lease income219,294192,140166,488 
Cost of revenue(427,544)(175,598)(273,540)(101,538) (2,400)
Cost of goods and services sold(277,900)(134,594)(248,432)(101,538) (2,400)
Other undisclosed gross profit127,58719,1526,972   
Gross profit:154,196127,630117,066155,660193,317300,371
Operating expenses37,359(86,823)(67,741)(219,260)(165,548)(271,054)
Other undisclosed operating income (loss)(74,121)(112)(584)106,2374,2542,400
Operating income:117,43440,69548,74142,63732,02331,717
Nonoperating income
(Other Nonoperating income)
378302515585388131
Interest and debt expense(43,054)(37,715)(31,035)(30,776)(19,098)(17,489)
Income from continuing operations before equity method investments, income taxes:74,7583,28218,22112,44613,31314,359
Income from equity method investments    273372 
Other undisclosed income from continuing operations before income taxes25,05021,43118,45519,0489,77816,291
Income from continuing operations before income taxes:99,80824,71336,67631,76723,46330,650
Income tax expense (benefit)14574228349129(725)
Income from continuing operations:99,95325,45536,95932,25823,49229,925
Income before gain (loss) on sale of properties:25,45536,95932,25823,49229,925
Net income:99,95325,45536,95932,25823,49229,925
Net loss attributable to noncontrolling interest(25,206)(3,563)(7,807)(8,205)(6,289)(8,878)
Net income attributable to parent:74,74721,89229,15224,05317,20321,047
Preferred stock dividends and other adjustments(11,548)(11,548)(7,349)(2,455)  
Net income available to common stockholders, diluted:63,19910,34421,80321,59817,20321,047

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:99,95325,45536,95932,25823,49229,925
Other undisclosed comprehensive income (loss)19,36511,841(6,406)(4,003)(1,725) 
Comprehensive income:119,31837,29630,55328,25521,76729,925
Comprehensive loss, net of tax, attributable to noncontrolling interest     (5,847)(8,878)
Other undisclosed comprehensive loss, net of tax, attributable to parent(29,858)(6,568)(6,029)(7,159)  
Comprehensive income, net of tax, attributable to parent:89,46030,72824,52421,09615,92021,047

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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