Phillips Edison & Company, Inc. (PECO) Financial Statements (2024 and earlier)

Company Profile

Business Address 11501 NORTHLAKE DRIVE
CINCINNATI, OH 45249
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 investments5,47892,585104,29617,82016,7915,716
Cash and cash equivalents5,47892,585104,29617,82016,7915,716
Restricted cash and investments    38,100  
Receivables     5,1256,102
Prepaid expense      4,232
Deferred costs40,93140,15938,04239,52836,86136,213
Derivative instruments and hedges, assets    2,72829,70816,496
Asset, held-for-sale, not part of disposal group  1,557 6,03817,364 
Total current assets:46,409134,301142,338104,214105,84968,759
Noncurrent Assets
Operating lease, right-of-use asset   1,4382,111
Property, plant and equipment1,674,1331,586,9931,549,3621,552,5621,598,0631,121,590
Long-term investments and receivables9,8003,000    
Long-term investments9,8003,000    
Intangible assets, net (including goodwill)572,527550,306536,85531,50543,12084,185
Goodwill29,06629,06629,06629,06629,06629,085
Intangible assets, net (excluding goodwill) 543,461521,240507,7892,43914,05455,100
Regulated entity, other noncurrent assets7,96313,15013,53817,20418,04116,042
Total noncurrent assets:2,264,4232,153,4492,101,1931,603,3821,659,2241,221,817
Other undisclosed assets2,424,6602,381,0182,435,0323,120,5993,398,4042,235,506
TOTAL ASSETS:4,735,4924,668,7684,678,5634,828,1955,163,4773,526,082
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Deferred compensation liability    1,700  
Derivative instruments and hedges, liabilities  24,09654,75920,974  
Business combination, contingent consideration, liability  52,43622,00032,00039,500 
Total current liabilities:  76,53276,75954,67439,500 
Noncurrent Liabilities
Liabilities, other than long-term debt   101,746112,319131,55990,624
Off-market lease, unfavorable   101,746112,319131,55990,624
Total noncurrent liabilities:   101,746112,319131,55990,624
Other undisclosed liabilities2,138,0592,115,9102,484,1292,492,4082,579,5211,956,776
Total liabilities:2,138,0592,192,4422,662,6342,659,4012,750,5802,047,400
Equity
Equity, attributable to parent, including:2,236,4872,149,5141,690,3591,814,0061,997,9861,046,240
Common stock  2,7982,8902,7981,852
Additional paid in capital3,383,9783,264,0382,739,3582,779,1302,674,8711,629,130
Accumulated other comprehensive income (loss)21,003(24,819)(52,306)(20,762)12,36216,496
Accumulated deficit(1,169,665)(1,090,837)(999,491)(947,252)(692,045)(601,238)
Other undisclosed equity, attributable to parent 1,1711,132    
Equity, attributable to noncontrolling interest360,946326,812325,570354,788414,911432,442
Total equity:2,597,4332,476,3262,015,9292,168,7942,412,8971,478,682
TOTAL LIABILITIES AND EQUITY:4,735,4924,668,7684,678,5634,828,1955,163,4773,526,082

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
Revenues575,372532,846498,017536,706430,392311,543
Operating leases, income statement, lease revenue301,112
Revenue, net311,543
Operating lease, lease income560,538519,495485,483522,270
Cost of revenue
(Cost of Goods and Services Sold)
(232,571)(217,564)(218,738)  (53,824)
Gross profit:342,801315,282279,279536,706430,392257,719
Operating expenses(445,004)(435,302)(422,991)(533,852)(415,021)(294,320)
Operating income (loss):(102,203)(120,020)(143,712)2,85415,371(36,601)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
(12,160)(34,361)9,245(676)(1,723)2,433
Interest and debt expense(71,196)(78,367)(85,307)(103,174)(72,642)(45,661)
Loss from continuing operations:(185,559)(232,748)(219,774)(100,996)(58,994)(79,829)
Loss before gain (loss) on sale of properties:(232,748)(219,774)(100,996)(58,994)(79,829)
Other undisclosed net income240,088249,981225,23628,170105,96938,111
Net income (loss):54,52917,2335,462(72,826)46,975(41,718)
Net income (loss) attributable to noncontrolling interest(6,206)(2,112)(690)9,294(7,837)3,327
Net income (loss) available to common stockholders, diluted:48,32315,1214,772(63,532)39,138(38,391)

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 (loss):54,52917,2335,462(72,826)46,975(41,718)
Other comprehensive loss   (33,820)(38,274)(4,156) 
Other undisclosed comprehensive income (loss)51,28532,000   4,580
Comprehensive income (loss):105,81449,233(28,358)(111,100)42,819(37,138)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(6,206)(2,112)1,38514,444(7,815)3,327
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(5,463)(4,513)201   
Comprehensive income (loss), net of tax, attributable to parent:94,14542,608(26,772)(96,656)35,004(33,811)

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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