Franklin Street Properties Corp. (FSP) Financial Statements (2024 and earlier)

Company Profile

Business Address 401 EDGEWATER PLACE
WAKEFIELD, MA 01880
State of Incorp. MA
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 investments3,73934,3082,6509,79011,1779,773
Cash and cash equivalents3,73934,3082,6509,79011,1779,773
Restricted cash and investments  6,4431,500   
Total current assets:3,73940,7514,1509,79011,1779,773
Noncurrent Assets
Operating lease, right-of-use asset 7001,1001,4001,800
Property, plant and equipment154198163183197289
Long-term investments and receivables      70,164
Long-term investments      70,164
Intangible assets, net (including goodwill)10,18614,93428,20640,70459,59586,520
Intangible assets, net (excluding goodwill)10,18614,93428,20640,70459,59586,520
Regulated entity, other noncurrent assets2507142,6774,2675,7225,099
Total noncurrent assets:11,29016,94632,44646,95465,514162,072
Other undisclosed assets1,226,6371,306,4761,756,5881,785,9101,821,4111,818,667
TOTAL ASSETS:1,241,6661,364,1731,793,1841,842,6541,898,1021,990,512
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Liabilities, other than long-term debt1955281,5922,5123,7955,805
Off-market lease, unfavorable1955281,5922,5123,7955,805
Total noncurrent liabilities:1955281,5922,5123,7955,805
Other undisclosed liabilities472,735580,4421,023,5011,053,7461,056,6731,113,415
Total liabilities:472,930580,9701,025,0931,056,2581,060,4681,119,220
Equity
Equity, attributable to parent, including:768,736783,203768,091786,396837,634871,292
Common stock101011111111
Additional paid in capital1,334,7761,339,2261,357,1311,356,7941,356,4571,356,457
Accumulated other comprehensive income (loss)4,358(5,239)(17,311)(4,682)14,76512,166
Other undisclosed equity, attributable to parent(570,408)(550,794)(571,740)(565,727)(533,599)(497,342)
Total equity:768,736783,203768,091786,396837,634871,292
TOTAL LIABILITIES AND EQUITY:1,241,6661,364,1731,793,1841,842,6541,898,1021,990,512

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
Revenues165,615209,358245,848269,065268,870272,588
Revenue, net263,777267,265
Operating lease, lease income 163,739207,581244,207 
Cost of revenue(110,248)(134,215)(151,356)(156,939)(154,675)(146,771)
Cost of goods and services sold(52,820)(60,881)(66,940)(72,311)(70,703)(71,212)
Gross profit:55,36775,14394,492112,126114,195125,817
Operating expenses(77,693)(94,442)(103,555)(105,382)(107,559)(117,398)
Operating income (loss):(22,326)(19,299)(9,063)6,7446,6368,419
Nonoperating expense
(Other Nonoperating expense)
      (1,878)
Interest and debt expense(22,886)(33,174)(36,026)(36,757)(38,374)(32,387)
Other undisclosed income from continuing operations before equity method investments, income taxes46,510145,40777,95436,757  
Income (loss) from continuing operations before equity method investments, income taxes:1,29892,93432,8656,744(31,738)(25,846)
Income (loss) from equity method investments  421  6,793(3,604)
Other undisclosed income (loss) from continuing operations before income taxes    38,37413,906
Income (loss) from continuing operations before income taxes:1,29893,35532,8656,74413,429(15,544)
Income tax expense(204)(638)(250)(269)(360)(400)
Income (loss) from continuing operations:1,09492,71732,6156,47513,069(15,944)
Income (loss) before gain (loss) on sale of properties:92,71732,6156,47513,069(15,944)
Income from discontinued operations12,493     
Other undisclosed net loss(12,493)     
Net income (loss) available to common stockholders, diluted:1,09492,71732,6156,47513,069(15,944)

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):1,09492,71732,6156,47513,069(15,944)
Comprehensive income (loss):1,09492,71732,6156,47513,069(15,944)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent9,59712,072(12,629)(19,447)2,5996,688
Comprehensive income (loss), net of tax, attributable to parent:10,691104,78919,986(12,972)15,668(9,256)

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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