Howard Hughes Corporation (The) (HHC) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
9950 WOODLOCH FOREST DR. THE WOODLANDS, TX 77380 |
| State of Incorp. | DE |
| 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)
| 6/30/2023 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 investments | 626,653 | 843,212 | 1,014,686 | 422,857 | 499,676 | 861,059 | |||
| Cash and cash equivalents | 626,653 | 843,212 | 1,014,686 | 422,857 | 499,676 | 861,059 | |||
| Total current assets: | 626,653 | 843,212 | 1,014,686 | 422,857 | 499,676 | 861,059 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 46,926 | 57,022 | 56,255 | ✕ | ✕ | ||||
| Property, plant and equipment | 4,246,389 | 3,962,441 | 4,115,493 | 3,813,595 | 5,782,395 | 5,033,527 | |||
| Long-term investments and receivables | 102,287 | 76,593 | |||||||
| Long-term investments | 102,287 | 76,593 | |||||||
| Intangible assets, net (including goodwill) | 25,327 | 31,216 | 58,930 | 59,610 | 60,290 | 61,137 | |||
| Goodwill | 1,307 | 1,307 | 1,307 | 1,307 | 1,307 | ||||
| Intangible assets, net (excluding goodwill) | 25,327 | 29,909 | 57,623 | 58,303 | 58,983 | 59,830 | |||
| Regulated entity, other noncurrent assets | 4,355 | 5,249 | 6,096 | 6,898 | |||||
| Restricted cash and investments | 472,284 | ||||||||
| Total noncurrent assets: | 4,790,926 | 4,050,679 | 4,235,033 | 3,878,454 | 5,951,068 | 5,178,155 | |||
| Other undisclosed assets | 4,185,884 | 4,687,803 | 3,890,613 | 4,112,455 | 905,055 | 689,850 | |||
| TOTAL ASSETS: | 9,603,463 | 9,581,694 | 9,140,332 | 8,413,766 | 7,355,799 | 6,729,064 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 254,336 | 204,837 | 187,639 | ||||||
| Deferred income tax liabilities | 254,336 | 204,837 | 187,639 | ✕ | ✕ | ||||
| Total noncurrent liabilities: | 254,336 | 204,837 | 187,639 | ||||||
| Other undisclosed liabilities | 5,743,015 | 5,643,687 | 5,208,556 | 5,080,778 | 4,117,673 | 3,540,513 | |||
| Total liabilities: | 5,997,351 | 5,848,524 | 5,396,195 | 5,080,778 | 4,117,673 | 3,540,513 | |||
| Temporary equity, carrying amount | 22,500 | 29,114 | |||||||
| Equity | |||||||||
| Equity, attributable to parent | 3,540,499 | 3,709,995 | 3,714,603 | 3,148,133 | 3,132,212 | 3,182,986 | |||
| Common stock | 564 | 563 | 562 | 437 | 436 | 433 | |||
| Treasury stock, value | (611,038) | (220,073) | (122,091) | (120,530) | (62,190) | (3,476) | |||
| Additional paid in capital | 3,972,561 | 3,960,418 | 3,947,278 | 3,343,983 | 3,322,433 | 3,302,502 | |||
| Accumulated other comprehensive income (loss) | 10,335 | (14,457) | (38,590) | (29,372) | (8,126) | (6,965) | |||
| Retained earnings (accumulated deficit) | 168,077 | (16,456) | (72,556) | (46,385) | (120,341) | (109,508) | |||
| Equity, attributable to noncontrolling interest | 65,613 | 675 | 420 | 184,855 | 105,914 | 5,565 | |||
| Total equity: | 3,606,112 | 3,710,670 | 3,715,023 | 3,332,988 | 3,238,126 | 3,188,551 | |||
| TOTAL LIABILITIES AND EQUITY: | 9,603,463 | 9,581,694 | 9,140,332 | 8,413,766 | 7,355,799 | 6,729,064 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,608,488 | 1,427,901 | 699,489 | 1,300,539 | 1,064,537 | 1,100,120 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | 257,308 | 508,848 | |
| Cost of revenue | (657,482) | (608,247) | (200,165) | (674,838) | (15,813) | (13,432) | ||
| Cost of goods and services sold | (17,410) | (15,813) | (13,432) | |||||
| Gross profit: | 951,006 | 819,654 | 499,324 | 625,701 | 1,048,724 | 1,086,688 | ||
| Operating expenses | (613,458) | (606,278) | (630,219) | (509,932) | (956,791) | (936,233) | ||
| Other operating income (expense), net | 31,587 | 28,496 | 11,334 | 34,541 | (936) | |||
| Other undisclosed operating income | 15,813 | 68,047 | ||||||
| Operating income (loss): | 369,135 | 241,872 | (119,561) | 150,310 | 106,810 | 218,502 | ||
| Nonoperating income (Investment Income, Nonoperating) | 3,818 | 107 | 2,368 | 9,797 | 8,486 | 4,043 | ||
| Interest and debt expense | (113,268) | (168,050) | (145,426) | (105,374) | (82,028) | (64,568) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | 259,685 | 73,929 | (262,619) | 54,733 | 33,268 | 157,977 | ||
| Income (loss) from equity method investments | (14,549) | (9,852) | 271,099 | 30,629 | 39,954 | |||
| Other undisclosed income (loss) from continuing operations before income taxes | 18,178 | (4) | (37,155) | |||||
| Income from continuing operations before income taxes: | 245,136 | 64,077 | 8,480 | 103,540 | 73,218 | 120,822 | ||
| Income tax expense (benefit) | (60,500) | (15,153) | (11,653) | (29,245) | (15,492) | 45,801 | ||
| Income (loss) from continuing operations: | 184,636 | 48,924 | (3,173) | 74,295 | 57,726 | 166,623 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | 48,924 | (3,173) | 74,295 | 57,726 | 166,623 | ||
| Net income (loss): | 184,636 | 48,924 | (3,173) | 74,295 | 57,726 | 166,623 | ||
| Net income (loss) attributable to noncontrolling interest | (103) | 7,176 | (22,981) | (339) | (714) | 1,781 | ||
| Net income (loss) available to common stockholders, diluted: | 184,533 | 56,100 | (26,154) | 73,956 | 57,012 | 168,404 | ||
Comprehensive Income ($ in thousands)
| 6/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 184,636 | 48,924 | (3,173) | 74,295 | 57,726 | 166,623 | ||
| Other comprehensive income (loss) | 24,792 | 24,133 | (9,218) | (18,475) | (1,161) | (179) | ||
| Other undisclosed comprehensive loss | (2,771) | |||||||
| Comprehensive income (loss): | 209,428 | 73,057 | (12,391) | 53,049 | 56,565 | 166,444 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (103) | 7,176 | (22,981) | (339) | (714) | 1,781 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 209,325 | 80,233 | (35,372) | 52,710 | 55,851 | 168,225 | ||
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.