Broadstone Net Lease Inc
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 22, 2024
BNL$17.84+1.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Assets | ||
| Accounted for using the operating method: | ||
| Land | $748,529 | $768,667 |
| Land improvements | 328,746 | 340,385 |
| Buildings and improvements | 3,803,156 | 3,888,756 |
| Equipment | 8,265 | 10,422 |
| Total accounted for using the operating method | 4,888,696 | 5,008,230 |
| Less accumulated depreciation | (626,597) | (533,965) |
| Accounted for using the operating method, net | 4,262,099 | 4,474,265 |
| Accounted for using the direct financing method | 26,643 | 27,045 |
| Accounted for using the sales-type method | 572 | 571 |
| Property under development | 94,964 | — |
| Investment in rental property, net | 4,384,278 | 4,501,881 |
| Cash and cash equivalents | 19,494 | 21,789 |
| Accrued rental income | 152,724 | 135,666 |
| Tenant and other receivables, net | 1,487 | 1,349 |
| Prepaid expenses and other assets | 36,661 | 64,180 |
| Interest rate swap, assets | 46,096 | 63,390 |
| Goodwill | 339,769 | 339,769 |
| Intangible lease assets, net | 288,226 | 329,585 |
| Total assets | $5,268,735 | $5,457,609 |
| Liabilities and equity | ||
| Unsecured revolving credit facility | $90,434 | $197,322 |
| Mortgages, net | 79,068 | 86,602 |
| Unsecured term loans, net | 895,947 | 894,692 |
| Senior unsecured notes, net | 845,309 | 844,555 |
| Accounts payable and other liabilities | 47,534 | 47,547 |
| Dividends payable | 56,869 | 54,460 |
| Accrued interest payable | 5,702 | 7,071 |
| Intangible lease liabilities, net | 53,531 | 62,855 |
| Total liabilities | 2,074,394 | 2,195,104 |
| Commitments and contingencies (Note 19) | ||
| Equity | ||
| Broadstone Net Lease, Inc. equity: | ||
| Preferred stock, $0.001 par value; 20,000 shares authorized, no shares issued or outstanding | — | — |
| Common stock, $0.00025 par value; 500,000 shares authorized, 187,614 and 186,114 shares issued and outstanding at December 31, 2023 and 2022, respectively | 47 | 47 |
| Additional paid-in capital | 3,440,639 | 3,419,395 |
| Cumulative distributions in excess of retained earnings | (440,731) | (386,049) |
| Accumulated other comprehensive income | 49,286 | 59,525 |
| Total Broadstone Net Lease, Inc. equity | 3,049,241 | 3,092,918 |
| Non-controlling interests | 145,100 | 169,587 |
| Total equity | 3,194,341 | 3,262,505 |
| Total liabilities and equity | $5,268,735 | $5,457,609 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.