Drive Shack Inc. (DS) Financial Statements (2024 and earlier)

Company Profile

Business Address 10670 N. CENTRAL EXPRESSWAY, SUITE 700
DALLAS, TX 75231
State of Incorp. MD
Fiscal Year End December 31
Industry (SIC) 581 - Eating And Drinking Places (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2022
MRQ
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments, including: 61,77251,00931,47582,188169,986146,544
Cash and cash equivalents 58,28647,78628,42379,235167,692140,140
Short-term investments 3,4863,2233,0522,9532,294 
Other undisclosed cash, cash equivalents, and short-term investments      6,404
Restricted cash and investments 3,4802,2523,1033,3265,178 
Receivables 5,5634,4465,2497,5188,780 
Inventory, net of allowances, customer advances and progress billings 2,2291,9502,7622,8554,7224,496
Inventory 2,2291,9502,7622,8554,7224,496
Other current assets 30,03414,41017,52120,50523,568 
Other undisclosed current assets (2,229)(1,950)14,18673,007(4,722) 
Total current assets: 100,84972,11774,296189,399207,512151,040
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization 14,28319,043 
Operating lease, right-of-use asset 181,915192,828215,308
Property, plant and equipment   179,641132,605241,25853,338
Long-term investments and receivables   24,02022,61321,13519,300
Long-term investments   24,02022,61321,13519,300
Intangible assets, net (including goodwill) 13,43015,12417,56548,38857,27665,112
Intangible assets, net (excluding goodwill) 13,43015,12417,56548,38857,27665,112
Restricted cash and investments 798795438258818 
Other noncurrent assets 6,5386,7654,7238,6848,64938,569
Other undisclosed noncurrent assets 164,977150,382    
Total noncurrent assets: 381,941384,937441,695212,548329,136176,319
Other undisclosed assets      844,599
TOTAL ASSETS: 482,790457,054515,991401,947536,6481,171,958
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including: 34,46929,59625,87745,28436,797 
Interest and dividends payable930 930930930 
Accrued liabilities 3,4554,3182,7692,8852,160 
Other undisclosed accounts payable and accrued liabilities 30,08425,27822,17841,46933,707 
Deferred revenue 26,30123,01026,268
Debt 5,4006,4706,1545,4894,652600,964
Deferred revenue and credits31,207 
Customer advances and deposits8,733 
Contract with customer, liability18,793
Other liabilities 26,52428,21723,96422,28522,596 
Other undisclosed current liabilities 18,03914,69210,79511,808  
Total current liabilities: 110,733101,98593,058103,659103,985600,964
Noncurrent Liabilities
Long-term debt and lease obligation, including: 217,205219,019238,86710,489112,105 
Long-term debt, excluding current maturities 51,17451,18251,19251,20051,208 
Other undisclosed long-term debt and lease obligation    (40,711)60,897 
Liabilities, other than long-term debt 11,49213,4009,56111,24898,2994,225
Customer advances or deposits86,523 
Deferred revenue and credits6,930 
Deferred revenue 10,0059,9536,283
Contract with customer, liability6,016
Off-market lease, unfavorable      4,225
Other liabilities 1,4873,4473,2785,2324,846 
Operating lease, liability 166,031167,837187,675
Other undisclosed noncurrent liabilities 113,505112,613108,930141,88451,208 
Total noncurrent liabilities: 342,202345,032357,358163,621261,6124,225
Other undisclosed liabilities      348,702
Total liabilities: 452,935447,017450,416267,280365,597953,891
Equity
Equity, attributable to parent 28,39910,03765,575134,667171,051218,067
Preferred stock 61,58361,58361,58361,58361,58361,583
Common stock 921673671670670668
Additional paid in capital 3,233,6083,178,7043,177,1833,175,8433,173,2813,172,720
Accumulated other comprehensive income 1,1631,4681,7101,8781,3701,168
Accumulated deficit (3,268,876)(3,232,391)(3,175,572)(3,105,307)(3,065,853)(3,018,072)
Equity, attributable to noncontrolling interest 1,456     
Total equity: 29,85510,03765,575134,667171,051218,067
TOTAL LIABILITIES AND EQUITY: 482,790457,054515,991401,947536,6481,171,958

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

9/30/2022
TTM
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues 281,864219,987272,064314,369292,594298,880
Revenue, net221,737226,255
Cost of revenue (45,458)(67,877)(110,042)(147)(60)(300)
Cost of goods and services sold (12,814)(8,834)(15,217)   
Provision for loan, lease, and other losses    (147)
Amortization of mortgage servicing rights (msrs)      (300)
Financial services costs(60) 
Gross profit: 236,406152,110162,022314,222292,534298,580
Operating expenses (257,030)(188,745)(229,306)(340,803)(337,505)(338,054)
Other undisclosed operating income    14760300
Operating loss: (20,624)(36,635)(67,284)(26,434)(44,911)(39,174)
Nonoperating income (expense)
(Investment Income, Nonoperating)
 (9,359)(18,014)13,071(11,965)3,675116,699
Interest and debt expense (10,698)(11,046)(230)(1,542)(294)(780)
Income (loss) from continuing operations before equity method investments, income taxes: (40,681)(65,695)(54,443)(39,941)(41,530)76,745
Other undisclosed income from continuing operations before income taxes 10,69811,0462301,542294780
Income (loss) from continuing operations before income taxes: (29,983)(54,649)(54,213)(38,399)(41,236)77,525
Income tax expense (1,779)(1,705)(641)(284)(965)(189)
Income (loss) from continuing operations: (31,762)(56,354)(54,854)(38,683)(42,201)77,336
Income (loss) before gain (loss) on sale of properties:(31,762)(56,354)(54,854)(38,683)(42,201)77,336
Net income (loss): (31,762)(56,354)(54,854)(38,683)(42,201)77,336
Net income (loss) attributable to noncontrolling interest 393    (257)
Net income (loss) attributable to parent: (31,369)(56,354)(54,854)(38,683)(42,201)77,079
Preferred stock dividends and other adjustments (5,580)(5,580)(5,580)(5,580)(5,580)(5,580)
Net income (loss) available to common stockholders, diluted: (36,949)(61,934)(60,434)(44,263)(47,781)71,499

Comprehensive Income ($ in thousands)

9/30/2022
TTM
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss): (31,762)(56,354)(54,854)(38,683)(42,201)77,336
Other comprehensive income (loss) (305) (168)508202(32,129)
Other undisclosed comprehensive loss  (242)    
Comprehensive income (loss): (32,067)(56,596)(55,022)(38,175)(41,999)45,207
Comprehensive income (loss), net of tax, attributable to noncontrolling interest 393    (257)
Comprehensive income (loss), net of tax, attributable to parent: (31,674)(56,596)(55,022)(38,175)(41,999)44,950

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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