SITC Stock Price Correlated With SITE Centers Financials
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Income Statement
Cash Flow
Balance Sheet
SITC Income Statement
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Revenue, Net:
Cost of Goods & Services Sold:
Gross Profit:
Selling, General & Admin Expense:
Research & Development Expense:
Total Operating Expenses:
Operating Income:
Income Taxes:
Net Income:
SITC Cash Flow
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Operating Activities Net Income:
Depreciation, Depletion & Amortization:
Change in Accounts Receiveable:
Net Cash from Operations:
Repurchases/Buybacks Common Stock:
Issuance of Long-term Debt:
Cash Dividends Paid:
Net Cash from Financing Activities:
Property, Plant & Equipment Purchases:
Purchases of Businesses, Net of Cash:
Net Cash from Investing Activities:
Net Change in Cash & Equivalents:
SITC Balance Sheet
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Cash and Cash Equivalents:
Short-Term Investments:
Accounts Receivable, Net:
Inventories:
Total Current Assets:
Property, Plant & Equipment, Net:
Total Assets:
Accounts Payable:
Current Portion of Long-Term Debt:
Total Short-Term Liabilities:
Long Term Debt, Non-Current Portion:
Total Long-Term Liabilities:
Total Liabilities:
COMPANY PROFILE
1. NATURE OF BUSINESS AND FINANCIAL STATEMENT PRESENTATION
Developers Diversified Realty Corporation and its related real estate joint ventures and
subsidiaries (collectively, the “Company” or “DDR”) are primarily engaged in the business of
acquiring, expanding, owning, developing, redeveloping, leasing, managing and operating shopping
centers. Unless otherwise provided, references herein to the Company or DDR include Developers
Diversified Realty Corporation, its wholly-owned and majority-owned subsidiaries and its
consolidated and unconsolidated joint ventures.
Principles of Consolidation
The Company follows the provisions of Accounting Standards Codification No. 810, Consolidation
(“ASC 810”). This standard requires a company to perform an analysis to determine whether its
variable interests give it a controlling financial interest in a VIE. This analysis identifies the
primary beneficiary of a VIE as the entity that has (a) the power to direct the activities of the
VIE that most significantly affect the VIE’s economic performance and (b) the obligation to absorb
losses or the right to receive benefits that could potentially be significant to the VIE. In
determining whether it has the power to direct the activities of the VIE that most significantly
affect the VIE’s performance, this standard requires a company to assess whether it has an implicit
financial responsibility to ensure that a VIE operates as designed.
At March 31, 2011 and December 31, 2010, the Company’s investments in consolidated real estate
joint ventures in which the Company is deemed to be the primary beneficiary have total real estate
assets of $383.1 million and $374.2 million, respectively, mortgages of $42.0 million and $42.9
million, respectively, and other liabilities of $13.4 million and $13.7 million, respectively.
Use of Estimates
The preparation of financial statements in accordance with generally accepted accounting
principles requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities, disclosure of contingent assets and liabilities at the date of the
financial statements and reported amounts of revenues and expenses during the reporting period.
Actual results could differ from these estimates.
Unaudited Interim Financial Statements
These financial statements have been prepared by the Company in accordance with generally
accepted accounting principles for interim financial information and the applicable rules and
regulations of the Securities and Exchange Commission. Accordingly, they do not include all
information and footnotes required by generally accepted accounting principles for complete
financial statements. However, in the opinion of management, the interim financial statements
include all adjustments, consisting of only normal recurring adjustments, necessary for a fair
statement of the
results of the periods presented. The results of operations for the three-month periods ended
March 31, 2011 and 2010, are not necessarily indicative of the results that may be expected for the
full year. These condensed consolidated financial statements should be read in conjunction with
the Company’s audited financial statements and notes thereto included in the Company’s Form 10-K
for the year ended December 31, 2010.
Comprehensive Loss
Comprehensive income (loss) is as follows (in thousands):
Three-Month Periods
Ended March 31,
2011
2010
Net income (loss)
$
35,379
$
(26,585 )
Other comprehensive income (loss):
Settlement/change in fair value of
interest-rate contracts
(1,785 )
3,468
Amortization of interest-rate contracts
(7 )
(93 )
Foreign currency translation
4,976
(11,902 )
Total other comprehensive income (loss)
3,184
(8,527 )
Comprehensive income (loss)
$
38,563
$
(35,112 )
Comprehensive (income) loss attributable to
non-controlling interests
(1,190 )
3,810
Tot
Developers Diversified Realty Corporation and its related real estate joint ventures and
subsidiaries (collectively, the “Company” or “DDR”) are primarily engaged in the business of
acquiring, expanding, owning, developing, redeveloping, leasing, managing and operating shopping
centers. Unless otherwise provided, references herein to the Company or DDR include Developers
Diversified Realty Corporation, its wholly-owned and majority-owned subsidiaries and its
consolidated and unconsolidated joint ventures.
Principles of Consolidation
The Company follows the provisions of Accounting Standards Codification No. 810, Consolidation
(“ASC 810”). This standard requires a company to perform an analysis to determine whether its
variable interests give it a controlling financial interest in a VIE. This analysis identifies the
primary beneficiary of a VIE as the entity that has (a) the power to direct the activities of the
VIE that most significantly affect the VIE’s economic performance and (b) the obligation to absorb
losses or the right to receive benefits that could potentially be significant to the VIE. In
determining whether it has the power to direct the activities of the VIE that most significantly
affect the VIE’s performance, this standard requires a company to assess whether it has an implicit
financial responsibility to ensure that a VIE operates as designed.
At March 31, 2011 and December 31, 2010, the Company’s investments in consolidated real estate
joint ventures in which the Company is deemed to be the primary beneficiary have total real estate
assets of $383.1 million and $374.2 million, respectively, mortgages of $42.0 million and $42.9
million, respectively, and other liabilities of $13.4 million and $13.7 million, respectively.
Use of Estimates
The preparation of financial statements in accordance with generally accepted accounting
principles requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities, disclosure of contingent assets and liabilities at the date of the
financial statements and reported amounts of revenues and expenses during the reporting period.
Actual results could differ from these estimates.
Unaudited Interim Financial Statements
These financial statements have been prepared by the Company in accordance with generally
accepted accounting principles for interim financial information and the applicable rules and
regulations of the Securities and Exchange Commission. Accordingly, they do not include all
information and footnotes required by generally accepted accounting principles for complete
financial statements. However, in the opinion of management, the interim financial statements
include all adjustments, consisting of only normal recurring adjustments, necessary for a fair
statement of the
results of the periods presented. The results of operations for the three-month periods ended
March 31, 2011 and 2010, are not necessarily indicative of the results that may be expected for the
full year. These condensed consolidated financial statements should be read in conjunction with
the Company’s audited financial statements and notes thereto included in the Company’s Form 10-K
for the year ended December 31, 2010.
Comprehensive Loss
Comprehensive income (loss) is as follows (in thousands):
Three-Month Periods
Ended March 31,
2011
2010
Net income (loss)
$
35,379
$
(26,585 )
Other comprehensive income (loss):
Settlement/change in fair value of
interest-rate contracts
(1,785 )
3,468
Amortization of interest-rate contracts
(7 )
(93 )
Foreign currency translation
4,976
(11,902 )
Total other comprehensive income (loss)
3,184
(8,527 )
Comprehensive income (loss)
$
38,563
$
(35,112 )
Comprehensive (income) loss attributable to
non-controlling interests
(1,190 )
3,810
Tot
Free historical financial statements for SITE Centers Corp.. See how revenue, income, cash flow, and balance sheet financials have changed over 55 quarters since 2011. Compare with SITC stock chart to see long term trends.
Data imported from SITE Centers Corp. SEC filings. Check original filings before making any investment decision.