Broadstone Net Lease Inc
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
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FY2024 · Filed Feb 20, 2025
BNL$17.69-0.9%Stored close · as of Nov 11, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income and Comprehensive Income
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| For the Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Revenues | |||
| Lease revenues, net | $431,800 | $442,888 | $407,513 |
| Operating expenses | |||
| Depreciation and amortization | 156,179 | 158,626 | 154,807 |
| Property and operating expense | 24,741 | 22,576 | 21,773 |
| General and administrative | 37,986 | 39,425 | 37,375 |
| Provision for impairment of investment in rental properties | 49,001 | 31,274 | 5,535 |
| Total operating expenses | 267,907 | 251,901 | 219,490 |
| Other income (expenses) | |||
| Interest income | 994 | 512 | 44 |
| Interest expense | (74,077) | (80,053) | (78,652) |
| Gain on sale of real estate | 73,153 | 54,310 | 15,953 |
| Income taxes | (1,175) | (763) | (1,275) |
| Other income (expenses) | 6,201 | (1,681) | 5,382 |
| Net income | 168,989 | 163,312 | 129,475 |
| Net income attributable to non-controlling interests | (6,548) | (7,834) | (7,360) |
| Net income attributable to Broadstone Net Lease, Inc. | $162,441 | $155,478 | $122,115 |
| Weighted average number of common shares outstanding | |||
| Basic | 187,454 | 186,617 | 169,840 |
| Diluted | 196,619 | 196,315 | 180,201 |
| Net earnings per share attributable to common stockholders | |||
| Basic and Diluted | $0.86 | $0.83 | $0.72 |
| Comprehensive income | |||
| Net income | $168,989 | $163,312 | $129,475 |
| Other comprehensive income | |||
| Change in fair value of interest rate swaps | 124 | (17,293) | 90,560 |
| Realized loss on interest rate swaps | 209 | 1,883 | 2,514 |
| Comprehensive income | 169,322 | 147,902 | 222,549 |
| Comprehensive income attributable to non-controlling interests | (6,552) | (7,070) | (12,700) |
| Comprehensive income attributable to Broadstone Net Lease, Inc. | $162,770 | $140,832 | $209,849 |
Consolidated Statements of Equity
| CommonStock · AdditionalPaid-in Capital · CumulativeDistributionsin Excessof RetainedEarnings · AccumulatedOtherComprehensiveIncome (Loss) · Non-controllingInterests · TotalEquity | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance, January 1, 2022 | $41 | $2,924,168 | $(318,476) | $(28,441) | $163,846 | $2,741,138 | |||||
| Net income | — | — | 122,115 | — | 7,360 | 129,475 | |||||
| Issuance of 23,682 shares of common stock | 6 | 503,442 | — | — | — | 503,448 | |||||
| Offering costs, discounts, and commissions | — | (7,575) | — | — | — | (7,575) | |||||
| Stock-based compensation, net of ten shares of restricted stock forfeited | — | 5,316 | — | — | — | 5,316 | |||||
| Retirement of 59 shares of common stock under equity incentive plan | — | (1,301) | — | — | — | (1,301) | |||||
| Conversion of 118 OP Units to 118 shares of common stock | — | 1,926 | — | — | (1,926) | — | |||||
| Distributions declared ($1.080 per share and OP Unit) | — | — | (189,688) | — | (11,382) | (201,070) | |||||
| Change in fair value of interest rate swap agreements | — | — | — | 85,363 | 5,197 | 90,560 | |||||
| Realized loss on interest rate swap agreements | — | — | — | 2,371 | 143 | 2,514 | |||||
| Adjustment to non-controlling interests | — | (6,581) | — | 232 | 6,349 | — | |||||
| Balance, December 31, 2022 | 47 | 3,419,395 | (386,049) | 59,525 | 169,587 | 3,262,505 | |||||
| Net income | — | — | 155,478 | — | 7,834 | 163,312 | |||||
| Issuance of 312 shares of common stock under equity incentive plan | — | — | — | — | — | — | |||||
| Offering costs, discounts, and commissions | — | (237) | — | — | — | (237) | |||||
| Stock-based compensation, net of 23 shares of restricted stock forfeited | — | 6,359 | — | — | — | 6,359 | |||||
| Retirement of 66 shares of common stock under equity incentive plan | — | (1,175) | — | — | — | (1,175) | |||||
| Conversion of 1,277 OP Units to 1,277 shares of common stock | — | 21,235 | — | — | (21,235) | — | |||||
| Distributions declared ($1.120 per share and OP Unit) | — | — | (210,160) | — | (10,853) | (221,013) | |||||
| Change in fair value of interest rate swap agreements | — | — | — | (16,439) | (854) | (17,293) | |||||
| Realized loss on interest rate swap agreements | — | — | — | 1,793 | 90 | 1,883 | |||||
| Adjustment to non-controlling interests | — | (4,938) | — | 4,407 | 531 | — | |||||
| Balance, December 31, 2023 | 47 | 3,440,639 | (440,731) | 49,286 | 145,100 | 3,194,341 | |||||
| Net income | — | — | 162,441 | — | 6,548 | 168,989 | |||||
| Issuance of 893 shares of common stock under equity incentive plan | — | 116 | — | — | — | 116 | |||||
| Offering costs, discounts, and commissions | — | (782) | — | — | — | (782) | |||||
| Contributions from non-controlling interests | — | — | — | — | 1,000 | 1,000 | |||||
| Stock-based compensation, net of 92 shares of restricted stock forfeited | — | 7,355 | — | — | — | 7,355 | |||||
| Retirement of 71 shares of common stock under equity incentive plan | (1,040) | — | — | — | (1,040) | ||||||
| Conversion of 282 OP Units to 282 shares of common stock | — | 4,544 | — | — | (4,544) | — | |||||
| Distributions declared ($1.155 per share and OP Unit) | — | — | (218,253) | — | (10,635) | (228,888) | |||||
| Change in fair value of interest rate swap agreements | — | — | — | 129 | (5) | 124 | |||||
| Realized loss on interest rate swap agreements | — | — | — | 200 | 9 | 209 | |||||
| Adjustment to non-controlling interests | — | (248) | — | 42 | 206 | — | |||||
| Balance, December 31, 2024 | $47 | $3,450,584 | $(496,543) | $49,657 | $137,679 | $3,141,424 | |||||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.