KIMCO REALTY CORP
For the period ended Mar 31, 2024. Filed May 3, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 3, 2024
KIM$25.52-0.4%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
| PART I - FINANCIAL INFORMATION | ||
|---|---|---|
| Item 1. · Financial Statements | ||
| Condensed Consolidated Financial Statements of Kimco Realty Corporation and Subsidiaries (unaudited) | ||
| Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 | 5 | |
| Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 | 6 | |
| Condensed Consolidated Statements of Comprehensive Income/(Loss) for the Three Months Ended March 31, 2024 and 2023 | 7 | |
| Condensed Consolidated Statements of Changes in Equity for the Three Months Ended March 31, 2024 and 2023 | 8 | |
| Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 | 9 | |
| Condensed Consolidated Financial Statements of Kimco Realty OP, LLC and Subsidiaries (unaudited) | ||
| Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 | 10 | |
| Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 | 11 | |
| Condensed Consolidated Statements of Comprehensive Income/(Loss) for the Three Months Ended March 31, 2024 and 2023 | 12 | |
| Condensed Consolidated Statements of Changes in Capital for the Three Months Ended March 31, 2024 and 2023 | 13 | |
| Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 | 14 | |
| Kimco Realty Corporation and Subsidiaries and Kimco Realty OP, LLC and Subsidiaries | ||
| Notes to Condensed Consolidated Financial Statements (unaudited) | 15 | |
| Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations. | 36 |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk. | 48 |
| Item 4. | Controls and Procedures. | 49 |
| PART II - OTHER INFORMATION | ||
| Item 1. | Legal Proceedings. | 50 |
| Item 1A. | Risk Factors. | 50 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds. | 50 |
| Item 3. | Defaults Upon Senior Securities. | 50 |
| Item 4. | Mine Safety Disclosures. | 50 |
| Item 5. | Other Information. | 51 |
| Item 6. | Exhibits. | 51 |
| Signatures | 52 | |
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share information)
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| Assets: | ||
| Real estate, net of accumulated depreciation and amortization of $3,973,210 and $3,842,869, respectively | $16,626,386 | $15,094,925 |
| Investments in and advances to real estate joint ventures | 1,516,851 | 1,087,804 |
| Other investments | 156,171 | 144,089 |
| Cash and cash equivalents | 136,767 | 783,757 |
| Marketable securities | 2,737 | 330,057 |
| Accounts and notes receivable, net | 308,275 | 307,617 |
| Operating lease right-of-use assets, net | 132,712 | 128,258 |
| Other assets | 586,480 | 397,515 |
| Total assets (1) | $19,466,379 | $18,274,022 |
| Liabilities: | ||
| Notes payable, net | $7,242,570 | $7,262,851 |
| Mortgages payable, net | 351,376 | 353,945 |
| Accounts payable and accrued expenses | 239,725 | 216,237 |
| Dividends payable | 6,722 | 5,308 |
| Operating lease liabilities | 122,308 | 109,985 |
| Other liabilities | 665,383 | 599,961 |
| Total liabilities (1) | 8,628,084 | 8,548,287 |
| Redeemable noncontrolling interests | 70,439 | 72,277 |
| Commitments and Contingencies (Footnote 19) | ||
| Stockholders' equity: | ||
| Preferred stock, $1.00 par value, authorized 7,054,000 shares; Issued and outstanding (in series) 21,216 and 19,367 shares, respectively; Aggregate liquidation preference $576,606 and $484,179, respectively | 21 | 19 |
| Common stock, $.01 par value, authorized 750,000,000 shares; Issued and outstanding 674,117,917 and 619,871,237 shares, respectively | 6,741 | 6,199 |
| Paid-in capital | 10,906,300 | 9,638,494 |
| Cumulative distributions in excess of net income | (303,302) | (122,576) |
| Accumulated other comprehensive income | 10,279 | 3,329 |
| Total stockholders' equity | 10,620,039 | 9,525,465 |
| Noncontrolling interests | 147,817 | 127,993 |
| Total equity | 10,767,856 | 9,653,458 |
| Total liabilities and equity | $19,466,379 | $18,274,022 |
| (1) | Total assets include restricted assets of consolidated variable interest entities (“VIEs”) at March 31, 2024 and December 31, 2023 of $385,607 and $388,626, respectively. Total liabilities include non-recourse liabilities of consolidated VIEs at March 31, 2024 and December 31, 2023 of $178,952 and $180,855, respectively. See Footnote 14 of the Notes to Condensed Consolidated Financial Statements. |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.