Seritage Growth Properties (SRG) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
500 FIFTH AVENUE NEW YORK, NY 10110 |
| State of Incorp. | MD |
| Fiscal Year End | December 31 |
| Industry (SIC) | 65 - Real Estate (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2024 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 | 134,001 | 133,480 | 106,602 | 143,728 | 139,260 | 532,857 | |||
| Cash and cash equivalents | 134,001 | 133,480 | 106,602 | 143,728 | 139,260 | 532,857 | |||
| Total current assets: | 134,001 | 133,480 | 106,602 | 143,728 | 139,260 | 532,857 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 14,400 | 16,200 | 17,000 | 18,500 | ✕ | ||||
| Property, plant and equipment | 102,090 | 172,813 | 475,667 | 592,770 | 667,004 | 696,792 | |||
| Intangible assets, net (including goodwill) | 886 | 1,791 | 14,817 | 18,595 | 68,153 | 123,656 | |||
| Intangible assets, net (excluding goodwill) | 886 | 1,791 | 14,817 | 18,595 | 68,153 | 123,656 | |||
| Total noncurrent assets: | 117,376 | 190,804 | 507,484 | 611,365 | 753,657 | 820,448 | |||
| Other undisclosed assets | 722,487 | 1,517,437 | 1,800,052 | 1,893,850 | 1,857,695 | 1,522,771 | |||
| TOTAL ASSETS: | 973,864 | 1,841,721 | 2,414,138 | 2,648,943 | 2,750,612 | 2,876,076 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Other undisclosed liabilities | 410,700 | 1,119,122 | 1,569,338 | 1,766,216 | 1,707,242 | 1,725,618 | |||
| Total liabilities: | 410,700 | 1,119,122 | 1,569,338 | 1,766,216 | 1,707,242 | 1,725,618 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 561,990 | 720,469 | 687,741 | 649,040 | 731,419 | 780,770 | |||
| Additional paid in capital | 1,361,742 | 1,360,411 | 1,241,048 | 1,177,260 | 1,149,721 | 1,124,504 | |||
| Accumulated deficit | (800,342) | (640,531) | (553,771) | (528,637) | (418,711) | (344,132) | |||
| Other undisclosed equity, attributable to parent | 590 | 589 | 464 | 417 | 409 | 398 | |||
| Equity, attributable to noncontrolling interest | 1,174 | 2,130 | 157,059 | 233,687 | 311,951 | 369,688 | |||
| Total equity: | 563,164 | 722,599 | 844,800 | 882,727 | 1,043,370 | 1,150,458 | |||
| TOTAL LIABILITIES AND EQUITY: | 973,864 | 1,841,721 | 2,414,138 | 2,648,943 | 2,750,612 | 2,876,076 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 20,779 | 107,055 | 116,683 | 116,495 | 168,633 | 214,754 | ||
| Operating leases, income statement, lease revenue | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 156,055 | |
| Operating lease, lease income | 31,904 | 103,356 | 113,355 | 119,392 | 150,950 | ✕ | ||
| Cost of revenue | (27,410) | (65,720) | (45,007) | (41,164) | (80,718) | (71,151) | ||
| Cost of goods and services sold | (21,282) | (41,770) | (45,007) | (41,164) | (42,123) | (28,705) | ||
| Gross profit: | (6,631) | 41,335 | 71,676 | 75,331 | 87,915 | 143,603 | ||
| Operating expenses | (60,459) | (124,281) | (188,974) | (188,954) | (143,737) | (261,720) | ||
| Operating loss: | (67,090) | (82,946) | (117,298) | (113,623) | (55,822) | (118,117) | ||
| Nonoperating income (expense) (Investment Income, Nonoperating) | 6,407 | (677) | 1,758 | 6,721 | ||||
| Interest and debt expense | (44,571) | (86,730) | (107,975) | (91,316) | (94,519) | (90,020) | ||
| Loss from continuing operations before equity method investments, income taxes: | (105,254) | (170,353) | (225,273) | (203,181) | (143,620) | (208,137) | ||
| Loss from equity method investments | (55,857) | (72,080) | (9,226) | (4,712) | (17,994) | (10,448) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | 6,238 | 122,802 | 195,710 | 55,181 | 71,207 | 104,028 | ||
| Loss from continuing operations before income taxes: | (154,873) | (119,631) | (38,789) | (152,712) | (90,407) | (114,557) | ||
| Income tax expense | (38) | (466) | (196) | (252) | (196) | (321) | ||
| Loss from continuing operations: | (154,911) | (120,097) | (38,985) | (152,964) | (90,603) | (114,878) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (38,985) | (152,964) | (90,603) | (114,878) | |
| Net loss: | (154,911) | (120,097) | (38,985) | (152,964) | (90,603) | (114,878) | ||
| Net income attributable to noncontrolling interest | 46,152 | 10,836 | 47,938 | 31,206 | 41,406 | |||
| Net loss attributable to parent: | (154,911) | (73,945) | (28,149) | (105,026) | (59,397) | (73,472) | ||
| Preferred stock dividends and other adjustments | (4,900) | (4,900) | (4,900) | (4,900) | (4,900) | (4,903) | ||
| Net loss available to common stockholders, diluted: | (159,811) | (78,845) | (33,049) | (109,926) | (64,297) | (78,375) | ||
Comprehensive Income ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (154,911) | (120,097) | (38,985) | (152,964) | (90,603) | (114,878) | ||
| Comprehensive loss: | (154,911) | (120,097) | (38,985) | (152,964) | (90,603) | (114,878) | ||
| Comprehensive income, net of tax, attributable to noncontrolling interest | 46,152 | 10,836 | 47,938 | 31,206 | 41,406 | |||
| Comprehensive loss, net of tax, attributable to parent: | (154,911) | (73,945) | (28,149) | (105,026) | (59,397) | (73,472) | ||
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.