Preferred shares, authorized

Table of Contents  
  
Federal Realty Investment TrustConsolidated Balance Sheets

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | June 30, |  | December 31, |
|  | 2022 |  | 2021 |
|   | (In thousands, except share and per share data) |
|  | (Unaudited) |  |  |
| ASSETS |  |  |  |
| Real estate, at cost |  |  |  |
| Operating (including $2,219,568 and $2,207,648 of consolidated variable interest entities, respectively) | $ | 9,076,274  |  |  | $ | 8,814,791  |  |
| Construction-in-progress (including $24,865 and $18,752 of consolidated variable interest entities, respectively) | 630,287  |  |  | 607,271  |  |
|  |  |  |  |
|  | 9,706,561  |  |  | 9,422,062  |  |
| Less accumulated depreciation and amortization (including $418,633 and $389,950 of consolidated variable interest entities, respectively) | (2,648,474) |  |  | (2,531,095) |  |
| Net real estate | 7,058,087  |  |  | 6,890,967  |  |
| Cash and cash equivalents | 176,559  |  |  | 162,132  |  |
| Accounts and notes receivable, net | 187,370  |  |  | 169,007  |  |
| Mortgage notes receivable, net | 9,499  |  |  | 9,543  |  |
| Investment in partnerships | 13,515  |  |  | 13,027  |  |
| Operating lease right of use assets | 89,613  |  |  | 90,743  |  |
| Finance lease right of use assets | 49,190  |  |  | 49,832  |  |
| Prepaid expenses and other assets | 226,608  |  |  | 237,069  |  |
|  |  |  |  |
| TOTAL ASSETS | $ | 7,810,441  |  |  | $ | 7,622,320  |  |
| LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |
| Liabilities |  |  |  |
| Mortgages payable, net (including $317,619 and $335,301 of consolidated variable interest entities, respectively) | $ | 321,975  |  |  | $ | 339,993  |  |
|  |  |  |  |
| Notes payable, net | 301,480  |  |  | 301,466  |  |
| Senior notes and debentures, net | 3,406,895  |  |  | 3,406,088  |  |
| Accounts payable and accrued expenses | 226,660  |  |  | 235,168  |  |
| Dividends payable | 87,397  |  |  | 86,538  |  |
| Security deposits payable | 27,232  |  |  | 25,331  |  |
| Operating lease liabilities | 71,827  |  |  | 72,661  |  |
| Finance lease liabilities | 72,019  |  |  | 72,032  |  |
| Other liabilities and deferred credits | 209,217  |  |  | 206,187  |  |
| Total liabilities | 4,724,702  |  |  | 4,745,464  |  |
| Commitments and contingencies (Note 6) |  |  |  |
| Redeemable noncontrolling interests | 209,312  |  |  | 213,708  |  |
| Shareholders’ equity |  |  |  |
| Preferred shares, authorized 15,000,000 shares, $.01 par: |  |  |  |
| 5.0% Series C Cumulative Redeemable Preferred Shares, (stated at liquidation preference $25,000 per share), 6,000 shares issued and outstanding | 150,000  |  |  | 150,000  |  |
| 5.417% Series 1 Cumulative Convertible Preferred Shares, (stated at liquidation preference $25 per share), 392,878 and 399,896 shares issued and outstanding, respectively | 9,822  |  |  | 9,997  |  |
| Common shares of beneficial interest, $.01 par, 100,000,000 shares authorized, 80,896,804 and 78,603,305 shares issued and outstanding, respectively | 813  |  |  | 790  |  |
| Additional paid-in capital | 3,758,161  |  |  | 3,488,794  |  |
| Accumulated dividends in excess of net income | (1,126,463) |  |  | (1,066,932) |  |
| Accumulated other comprehensive income (loss) | 3,550  |  |  | (2,047) |  |
| Total shareholders’ equity of the Trust | 2,795,883  |  |  | 2,580,602  |  |
| Noncontrolling interests | 80,544  |  |  | 82,546  |  |
| Total shareholders’ equity | 2,876,427  |  |  | 2,663,148  |  |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ | 7,810,441  |  |  | $ | 7,622,320  |  |

The accompanying notes are an integral part of these consolidated statements.3
