Industrial Logistics Properties Trust (ILPT) Financial Statements (2024 and earlier)

Company Profile

Business Address TWO NEWTON PLACE
NEWTON, MA 02458
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
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments71,69561,25048,26126,381291,866275,075
Cash and cash equivalents71,69561,25048,26126,381291,866275,075
Total current assets:71,69561,25048,26126,381291,866275,075
Noncurrent Assets
Operating lease, right-of-use asset4,8674,9765,0844,9595,0535,147
Property, plant and equipment1,112,5981,116,5611,117,7791,117,8011,113,9971,026,237
Intangible assets, net (including goodwill)267,889282,947297,445313,444327,319282,314
Intangible assets, net (excluding goodwill)267,889282,947297,445313,444327,319282,314
Total noncurrent assets:1,385,3541,404,4841,420,3081,436,2041,446,3691,313,698
Other undisclosed assets4,205,0314,169,2424,207,5974,257,0504,217,6034,515,020
TOTAL ASSETS:5,662,0805,634,9765,676,1665,719,6355,955,8386,103,793
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Liabilities, other than long-term debt20,42021,43922,52323,63324,75925,943
Off-market lease, unfavorable20,42021,43922,52323,63324,75925,943
Total noncurrent liabilities:20,42021,43922,52323,63324,75925,943
Other undisclosed liabilities4,380,3714,327,3624,322,8724,334,4924,496,1454,473,881
Total liabilities:4,400,7914,348,8014,345,3954,358,1254,520,9044,499,824
Equity
Equity, attributable to parent, including:744,297758,625790,724812,421853,5881,014,250
Common stock657656656656654654
Additional paid in capital1,015,1381,014,5851,014,2011,013,8021,013,4181,012,622
Accumulated other comprehensive income26,48714,88521,90312,3007,5723,908
Retained earnings66,54892,376117,185148,228193,855337,394
Other undisclosed equity, attributable to parent(364,533)(363,877)(363,221)(362,565)(361,911)(340,328)
Equity, attributable to noncontrolling interest516,992527,550540,047549,089581,346589,719
Total equity:1,261,2891,286,1751,330,7711,361,5101,434,9341,603,969
TOTAL LIABILITIES AND EQUITY:5,662,0805,634,9765,676,1665,719,6355,955,8386,103,793

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

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues
(Operating Lease, Lease Income)
108,043110,258106,339103,215107,22271,375
Cost of revenue(15,100)(16,467)(14,164)(13,749)(13,275)(9,436)
Gross profit:92,94393,79192,17589,46693,94761,939
Operating expenses(61,813)(62,682)(63,444)(66,668)(160,208)(35,727)
Operating income (loss):31,13031,10928,73122,798(66,261)26,212
Nonoperating income
(Investment Income, Nonoperating)
1,7971,1467631,0683541,710
Interest and debt expense(72,205)(70,771)(71,765)(111,109)(77,548)(41,827)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes  (974)  (9,460)2,460
Loss from continuing operations before equity method investments, income taxes:(39,278)(39,490)(42,271)(87,243)(152,915)(11,445)
Income from equity method investments 2,7433,9614443,2971,6101,727
Loss from continuing operations before income taxes:(36,535)(35,529)(41,827)(83,946)(151,305)(9,718)
Income tax expense (benefit)(45)(17)68(28)(16)(69)
Other undisclosed income from continuing operations      
Loss from continuing operations:(36,580)(35,546)(41,759)(83,974)(151,321)(9,787)
Loss before gain (loss) on sale of properties:(83,974)(151,321)(9,787)
Net loss:(36,580)(35,546)(41,759)(83,974)(151,321)(9,787)
Net income attributable to noncontrolling interest10,75210,73710,71638,3477,7823,273
Net loss attributable to parent:(25,828)(24,809)(31,043)(45,627)(143,539)(6,514)
Undistributed earnings (loss) allocated to participating securities, basic  3(3)(2)(63) 
Net loss available to common stockholders, diluted:(25,828)(24,806)(31,046)(45,629)(143,602)(6,514)

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net loss:(36,580)(35,546)(41,759)(83,974)(151,321)(9,787)
Other comprehensive income (loss)12,021(8,778) 8,8474,4385,632
Other undisclosed comprehensive income   30,194   
Comprehensive loss:(24,559)(44,324)(11,565)(75,127)(146,883)(4,155)
Comprehensive income, net of tax, attributable to noncontrolling interest10,75210,73710,71638,3477,7823,273
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(419)1,760(20,591)(4,119)(774)(1,724)
Comprehensive loss, net of tax, attributable to parent:(14,226)(31,827)(21,440)(40,899)(139,875)(2,606)

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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