Form 8-K/A Alexander & Baldwin, For: Oct 29
ALEXANDER & BALDWIN, INC. AND SUBSIDIARIES
SEGMENT DATA & OTHER FINANCIAL INFORMATION
(amounts in millions, except per share data; unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
| 2020 | 2019 | 2020 | 2019 | |||||||||||||||||||||||
| Operating Revenue: | ||||||||||||||||||||||||||
| Commercial Real Estate | $ | 35.7 | $ | 42.7 | $ | 113.1 | $ | 118.6 | ||||||||||||||||||
| Land Operations | 7.7 | 8.5 | 29.0 | 82.4 | ||||||||||||||||||||||
| Materials & Construction | 34.4 | 37.9 | 90.4 | 126.6 | ||||||||||||||||||||||
| Total operating revenue | 77.8 | 89.1 | 232.5 | 327.6 | ||||||||||||||||||||||
| Operating Profit (Loss): | ||||||||||||||||||||||||||
| Commercial Real Estate | 11.0 | 18.0 | 37.9 | 50.6 | ||||||||||||||||||||||
| Land Operations | 3.4 | 2.8 | 13.1 | 15.9 | ||||||||||||||||||||||
| Materials & Construction | 1.3 | (57.9) | (10.1) | (66.7) | ||||||||||||||||||||||
| Total operating profit (loss) | 15.7 | (37.1) | 40.9 | (0.2) | ||||||||||||||||||||||
| Gain (loss) on disposal of commercial real estate properties, net | — | — | 0.5 | — | ||||||||||||||||||||||
| Interest expense | (7.1) | (8.2) | (22.7) | (25.4) | ||||||||||||||||||||||
| Corporate and other expense | (5.4) | (5.5) | (13.8) | (18.1) | ||||||||||||||||||||||
| Income (Loss) from Continuing Operations Before Income Taxes | 3.2 | (50.8) | 4.9 | (43.7) | ||||||||||||||||||||||
| Income tax benefit (expense) | — | — | — | 1.1 | ||||||||||||||||||||||
| Income (Loss) from Continuing Operations | 3.2 | (50.8) | 4.9 | (42.6) | ||||||||||||||||||||||
| Income (loss) from discontinued operations | — | (0.1) | (0.8) | (0.8) | ||||||||||||||||||||||
| Net Income (Loss) | 3.2 | (50.9) | 4.1 | (43.4) | ||||||||||||||||||||||
| Loss (income) attributable to noncontrolling interest | (0.2) | 1.1 | 0.4 | 1.8 | ||||||||||||||||||||||
| Net Income (Loss) Attributable to A&B Shareholders | $ | 3.0 | $ | (49.8) | $ | 4.5 | $ | (41.6) | ||||||||||||||||||
| Basic Earnings (Loss) Per Share of Common Stock: | ||||||||||||||||||||||||||
| Continuing operations available to A&B shareholders | $ | 0.04 | $ | (0.69) | $ | 0.07 | $ | (0.57) | ||||||||||||||||||
| Discontinued operations available to A&B shareholders | — | — | (0.01) | (0.01) | ||||||||||||||||||||||
| Net income (loss) available to A&B shareholders | $ | 0.04 | $ | (0.69) | $ | 0.06 | $ | (0.58) | ||||||||||||||||||
| Diluted Earnings (Loss) Per Share of Common Stock: | ||||||||||||||||||||||||||
| Continuing operations available to A&B shareholders | $ | 0.04 | $ | (0.69) | $ | 0.07 | $ | (0.57) | ||||||||||||||||||
| Discontinued operations available to A&B shareholders | — | — | (0.01) | (0.01) | ||||||||||||||||||||||
| Net income (loss) available to A&B shareholders | $ | 0.04 | $ | (0.69) | $ | 0.06 | $ | (0.58) | ||||||||||||||||||
| Weighted-Average Number of Shares Outstanding: | ||||||||||||||||||||||||||
| Basic | 72.4 | 72.3 | 72.3 | 72.2 | ||||||||||||||||||||||
| Diluted | 72.4 | 72.3 | 72.4 | 72.2 | ||||||||||||||||||||||
| Amounts Available to A&B Common Shareholders: | ||||||||||||||||||||||||||
| Continuing operations available to A&B common shareholders | $ | 3.0 | $ | (49.7) | $ | 5.3 | $ | (40.8) | ||||||||||||||||||
| Discontinued operations available to A&B common shareholders | — | (0.1) | $ | (0.8) | $ | (0.8) | ||||||||||||||||||||
| Net income (loss) available to A&B common shareholders | $ | 3.0 | $ | (49.8) | $ | 4.5 | $ | (41.6) | ||||||||||||||||||