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Income Statement
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Seritage Growth Properties (SRG)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16
   10-K10-K10-K10-K10-K10-K10-K
Revenues:  
    Rental income      213.6241.0186.4
    Other      1.2 62.3
Total revenues   [+]2.41.00.31.6214.8241.0248.7
            Revenue growth   [+]137.0%252.2%-81.7%-99.3%-10.9%-3.1% 
Cost of goods sold   [+]24.035.336.838.671.265.465.2
Gross profit  -21.5-34.2-36.5-37.0143.6175.7183.5
            Gross margin  -879.1%-3316.3%-12448.8%-2315.2%66.9%72.9%73.8%
Selling, general and administrative   [+]166.1138.2166.0185.934.827.917.5
Equity in earnings      -10.4-7.84.6
Other operating expenses  7.6-115.0-43.0-118.8-95.9-70.920.6
EBITDA   [+]-154.0-6.2-63.50.5194.3210.9150.0
            EBITDA margin  -6296.9%-596.9%-21673.4%32.9%90.5%87.5%60.3%
Depreciation and amortization  41.151.296.0104.6226.7262.2177.1
EBIT   [+]-195.1-57.4-159.5-104.1-32.4-51.3-27.1
            EBIT margin  -7977.8%-5558.0%-54436.9%-6511.6%-15.1%-21.3%-10.9%
Non-recurring items        0.1
Interest expense, net   [+]-37.8-9.3-3.4-6.890.070.163.6
Other income (expense), net   [+]124.5117.394.7101.37.90.90.3
Pre-tax income  -119.6-38.8-152.7-90.4-114.6-120.5-90.5
Income taxes  0.50.20.30.20.30.30.5
Minority interest      -41.4-47.1-39.5
Net income  -73.9-28.1-105.0-59.4-78.4-74.0-51.6
            Net margin  -3023.1%-2727.6%-35845.1%-3717.0%-36.5%-30.7%-20.7%
   
Basic EPS   [+]($1.49)($0.66)($2.74)($1.63)($2.20)($2.19)($1.64)
Diluted EPS   [+]($1.49)($0.66)($2.74)($1.63)($2.20)($2.19)($1.64)
   
Dividends per share   [+]   $0.49$1.00$1.01$1.25
   
Shares outstanding (basic)   [+]49.742.438.336.435.633.831.4
Shares outstanding (diluted)   [+]49.742.438.336.435.633.831.4
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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