Spirit Realty Capital, Inc. (SRC) Financial Statements (2024 and earlier)

Company Profile

Business Address 2727 NORTH HARWOOD STREET
DALLAS, TX 75201
State of Incorp. MD
Fiscal Year End December 31
Industry (SIC) 6512 - Operators of Nonresidential Buildings (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 investments8,77017,79970,30314,492164,4938,798
Cash and cash equivalents8,77017,79970,30314,49214,4938,798
Short-term investments     150,000 
Total current assets:8,77017,79970,30314,492164,4938,798
Noncurrent Assets
Property, plant and equipment8,632,3677,478,9186,392,596 4,757,7177,281,307
Intangible assets, net (including goodwill)649,470652,572593,589225,600225,600254,340
Goodwill225,600225,600225,600225,600225,600254,340
Intangible assets, net (excluding goodwill)423,870426,972367,989   
Total noncurrent assets:9,281,8378,131,4906,986,185225,6004,983,3177,535,647
Other undisclosed assets(817,741)(818,419)(659,702)5,592,569(51,494)(280,934)
TOTAL ASSETS:8,472,8667,330,8706,396,7865,832,6615,096,3167,263,511
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities3,911,5503,331,0712,795,6662,419,4122,294,5673,943,902
Total liabilities:3,911,5503,331,0712,795,6662,419,4122,294,5673,943,902
Equity
Equity, attributable to parent4,561,3163,999,7993,601,1203,413,2492,801,7493,319,609
Preferred stock166,177166,177166,177166,177166,177166,193
Common stock7,0626,3855,7415,1244,2894,489
Additional paid in capital7,285,6296,673,4406,126,5035,686,2474,995,6975,193,631
Accumulated other comprehensive income (loss)34,088(5,847)(8,654)(11,461)(7,159) 
Accumulated deficit(2,931,640)(2,840,356)(2,688,647)(2,432,838)(2,357,255)(2,044,704)
Total equity:4,561,3163,999,7993,601,1203,413,2492,801,7493,319,609
TOTAL LIABILITIES AND EQUITY:8,472,8667,330,8706,396,7865,832,6615,096,3167,263,511

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
Revenues709,629608,390483,617516,427445,125668,955
Operating leases, income statement, lease revenue402,321
Revenue, net655,764
Operating lease, lease income703,029606,099479,901 
Cost of revenue(152,114)(127,371)(131,089)(133,002)(125,549)(336,791)
Cost of goods and services sold(29,837)(23,232)(24,492)(18,637)(21,066)(36,617)
Gross profit:557,515481,019352,528383,425319,576332,164
Operating expenses(387,509)(320,992)(342,476)(251,980)(215,445)(318,083)
Other operating income, net116,40712,28216,92955,32245,152 
Other expenses (129,913)(101,343)(157,053)(119,958)(81,786) 
Operating income:286,413172,30926,981186,767149,28314,081
Nonoperating expense
(Other Nonoperating expense)
      (1,645)
Interest and debt expense(117,622)(103,003)(104,165)(101,060)(97,548)(1,645)
Other undisclosed income from continuing operations before equity method investments, income taxes     97,5481,645
Income (loss) from continuing operations before equity method investments, income taxes:168,79169,306(77,184)85,707149,28312,436
Other undisclosed income from continuing operations before income taxes117,622103,003104,165101,060  
Income from continuing operations before income taxes:286,413172,30926,981186,767149,28312,436
Income tax expense(897)(607)(273)(11,501)(792)(394)
Income from continuing operations:285,516171,70226,708175,266148,49112,042
Income before gain (loss) on sale of properties:171,70226,708175,266148,49112,042
Gain on sale of properties, net of applicable income taxes  65,106
Net income:285,516171,70226,708175,266148,49177,148
Other undisclosed net loss attributable to parent     (16,439) 
Net income attributable to parent:285,516171,70226,708175,266132,05277,148
Preferred stock dividends and other adjustments(10,350)(10,350)(10,350)(10,350)(10,352)(2,530)
Net income available to common stockholders, basic:275,166161,35216,358164,916121,70074,618
Dilutive securities, effect on basic earnings per share(555)(581)(728)915(1,149)(940)
Other undisclosed net loss available to common stockholders, diluted    (1,830)  
Net income available to common stockholders, diluted:274,611160,77115,630164,001120,55173,678

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:285,516171,70226,708175,266148,49177,148
Other comprehensive income (loss)39,9352,8072,807(4,302)(7,159) 
Comprehensive income:325,451174,50929,515170,964141,33277,148
Other undisclosed comprehensive loss, net of tax, attributable to parent(10,350)(10,350)(10,350)(10,350)(26,791)(2,530)
Comprehensive income, net of tax, attributable to parent:315,101164,15919,165160,614114,54174,618

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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