KBS Real Estate Investment Trust III, Inc. (KBSR) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
800 NEWPORT CENTER DRIVE NEWPORT BEACH, CA 92660 |
| 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)
| 6/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 36,836 | 47,767 | 44,404 | 72,523 | 43,984 | 75,023 | |||
| Cash and cash equivalents | 36,836 | 47,767 | 44,404 | 72,523 | 43,984 | 75,023 | |||
| Total current assets: | 36,836 | 47,767 | 44,404 | 72,523 | 43,984 | 75,023 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 274,315 | 290,121 | 290,121 | 292,971 | 308,920 | 437,793 | |||
| Long-term investments and receivables | 233,592 | 253,371 | |||||||
| Long-term investments | 233,592 | 253,371 | |||||||
| Deferred costs | 19,100 | 21,000 | 17,200 | ||||||
| Total noncurrent assets: | 274,315 | 290,121 | 290,121 | 545,663 | 583,291 | 454,993 | |||
| Other undisclosed assets | 1,828,234 | 1,921,099 | 1,919,676 | 1,886,139 | 2,011,652 | 2,770,775 | |||
| TOTAL ASSETS: | 2,139,385 | 2,258,987 | 2,254,201 | 2,504,325 | 2,638,927 | 3,300,791 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 9,900 | 8,000 | 4,000 | 4,000 | 4,500 | 6,100 | |||
| Interest and dividends payable | ✕ | ✕ | ✕ | 4,000 | 4,000 | 4,500 | 6,100 | ||
| Accrued liabilities | 9,900 | 8,000 | |||||||
| Total current liabilities: | 9,900 | 8,000 | 4,000 | 4,000 | 4,500 | 6,100 | |||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 9,849 | 17,553 | |||||||
| Off-market lease, unfavorable | 9,849 | 17,553 | |||||||
| Total noncurrent liabilities: | 9,849 | 17,553 | |||||||
| Other undisclosed liabilities | 1,862,073 | 1,796,638 | 1,587,639 | 1,555,566 | 1,587,564 | 2,321,756 | |||
| Total liabilities: | 1,871,973 | 1,804,638 | 1,591,639 | 1,559,566 | 1,601,913 | 2,345,409 | |||
| Temporary equity, carrying amount | 32,681 | 42,369 | 46,723 | 51,704 | 24,487 | ||||
| Equity | |||||||||
| Equity, attributable to parent, including: | 267,412 | 421,668 | 620,193 | 898,036 | 985,055 | 930,612 | |||
| Common stock | 1,485 | 1,480 | 1,532 | 1,842 | 1,810 | 1,775 | |||
| Additional paid in capital | 1,313,299 | 1,275,833 | 1,322,613 | 1,641,184 | 1,600,416 | 1,555,380 | |||
| Other undisclosed equity, attributable to parent | (1,047,372) | (855,645) | (703,952) | (744,990) | (617,171) | (626,543) | |||
| Equity, attributable to noncontrolling interest | 255 | 283 | |||||||
| Total equity: | 267,412 | 421,668 | 620,193 | 898,036 | 985,310 | 930,895 | |||
| TOTAL LIABILITIES AND EQUITY: | 2,139,385 | 2,258,987 | 2,254,201 | 2,504,325 | 2,638,927 | 3,300,791 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 300,677 | 308,017 | 296,761 | 306,918 | 385,272 | 426,257 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 426,257 | |
| Operating lease, lease income | 270,158 | 275,026 | 280,144 | ✕ | ||||
| Cost of revenue | (370,345) | (266,883) | (286,610) | (341,639) | (435,248) | (429,372) | ||
| Cost of goods and services sold | (96,753) | (94,885) | (88,638) | (92,460) | (116,885) | (128,911) | ||
| Gross profit: | (69,668) | 41,134 | 10,151 | (34,721) | (49,976) | (3,115) | ||
| Operating expenses | (52,756) | (8,115) | (6,116) | (26,496) | (17,124) | (9,597) | ||
| Operating income (loss): | (122,424) | 33,019 | 4,035 | (61,217) | (67,100) | (12,712) | ||
| Nonoperating income (expense) | (35,109) | (95,477) | 139,622 | 48,865 | 328,283 | 312 | ||
| Investment income, nonoperating | 505 | 63 | 52 | 72 | 655 | 312 | ||
| Interest and debt expense | (120,475) | (60,259) | (29,515) | (81,338) | (114,272) | (72,434) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | (278,008) | (122,717) | 114,142 | (93,690) | 146,911 | (84,834) | ||
| Income (loss) from equity method investments | 8,698 | (465) | 2,088 | |||||
| Income (loss) from continuing operations: | (278,008) | (122,717) | 122,840 | (94,155) | 146,911 | (82,746) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 122,840 | (94,155) | 146,911 | (82,746) | |
| Other undisclosed net income | 120,475 | 60,259 | 20,817 | 81,803 | 114,272 | 86,056 | ||
| Net income (loss): | (157,533) | (62,458) | 143,657 | (12,352) | 261,183 | 3,310 | ||
| Net income (loss) attributable to noncontrolling interest | (6,145) | 28 | 17 | |||||
| Net income (loss) available to common stockholders, diluted: | (157,533) | (62,458) | 143,657 | (18,497) | 261,211 | 3,327 | ||
Comprehensive Income ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (157,533) | (62,458) | 143,657 | (12,352) | 261,183 | 3,310 | ||
| Other comprehensive loss | (110) | |||||||
| Other undisclosed comprehensive income | 17 | |||||||
| Comprehensive income (loss): | (157,533) | (62,458) | 143,657 | (12,352) | 261,183 | 3,217 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (6,145) | 28 | 17 | |||||
| Comprehensive income (loss), net of tax, attributable to parent: | (157,533) | (62,458) | 143,657 | (18,497) | 261,211 | 3,234 | ||
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.