Federal Realty Investment Trust (FRT)

Company ID: 201 | CIK: 0000034903
10-Q view:
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Segments are charted by their disclosed metrics (revenue, segment profit, etc.). Each line is a single segment. Reconciliation/corporate items are excluded. Major customers are shown as a percentage of revenue. Operational KPIs are grouped by metric concept; sub-metrics appear as separate lines.

Geographic Segments

Business Unit / Product Segments

Major Customers (% of Revenue)

No major-customer concentration data found.

Operational KPIs

Annualized base rent (arr)

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Development obligations (backlog)

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West region tenants (customers)

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On-site solar capacity (generation_capacity)

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Full-time employees (headcount)

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Woodmont East construction loan drawn (loans_outstanding)

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Occupancy (occupancy)

2003 lease expirations (other)

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ATM capacity remaining (other)

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ATM equity capacity (other)

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ATM equity program capacity (other)

ATM program capacity (other)

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ATM remaining capacity (other)

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Accounts and notes receivable (other)

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Accounts payable and accrued expenses (other)

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Accumulated depreciation (other)

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Accumulated dividends in excess of net income (other)

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Active leases (other)

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Additional paid in capital (other)

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Administrative expense ratio (other)

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Anchor space vacated (other)

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Anchor tenant space leased (other)

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Anchor tenant space occupied (other)

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Annualized base rent (other)

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Annualized base rent concentration (other)

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Apartment units (other)

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Assembly Row Phase I costs incurred (other)

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Assembly Row development carrying value (other)

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Assembly Row spend (other)

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Assembly Square entitlements (other)

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Average Rental Increase (other)

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Average base rent (other)

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Average base rent per sqft (other)

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Average base rent per square foot (other)

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Average rent per sqft (other)

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Average rent per square foot (other)

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Average rental change (other)

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Average rental increase (other)

Average rental increase (New) (other)

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Average rental increase (Renewal) (other)

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Average rental increase (cash) (other)

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Average rental increase (straight-line) (other)

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Bad debt expense ratio (other)

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Bad debt ratio (other)

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Borders space to vacate (other)

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Budgeted Improvements (other)

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Budgeted capital expenditures (other)

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Budgeted improvements (other)

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Budgeted property improvements (other)

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Capital expenditure commitments (other)

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Capital expenditures (other)

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Capital improvements (other)

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Capitalized costs (other)

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Cash and cash equivalents (other)

Cash at beginning of period (other)

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Cash at end of period (other)

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Cash basis revenue recognition (other)

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Cash dividend declared (other)

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Cash dividend declared per share (other)

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Cash dividends paid (other)

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Cash rent spread (other)

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Cash rental increase (other)

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Cash rental rate increase (other)

Collectibility adjustment (other)

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Collectibility related adjustments (other)

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Commercial Leases (other)

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Commercial leases (other)

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Committed improvement obligations (other)

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Common Shares Issued (other)

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Common Shares Outstanding (other)

Common dividends declared per share (other)

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Common shares in treasury (other)

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Common shares issued (other)

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Common shares issued under ATM program (other)

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Common shares outstanding (other)

Common shares par value (other)

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Common shares repurchased (other)

Comparable lease rent growth (other)

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Comparable lease rental increase (other)

Comparable lease rental rate change (other)

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Comparable lease rental rate increase (other)

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Comparable leasing volume (other)

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Comparable rent growth (other)

Comparable rent increase (other)

Comparable rent spread (other)

Comparable rental increase (other)

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Comparable retail space leased (other)

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Comparable space lease rollover (other)

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Comparable space leased (other)

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Comparable space leases signed (other)

Comparable space leasing (other)

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Comparable space rent growth (other)

Comparable space rent increase (other)

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Comparable space rental increase (other)

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Comparable space retail leasing (other)

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Comparable-space leases signed (other)

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Condominium units closed (other)

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Condominium units sold (other)

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Condominium units under construction (other)

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Condominiums sold (other)

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Consecutive dividend increases (other)

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Consecutive years of dividend increases (other)

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Construction loan commitment (other)

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Contractual Obligations (other)

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Contractual improvement obligations (other)

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Contractual obligations (other)

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Convertible subordinated debentures (other)

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Core portfolio minimum rent growth (other)

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Core portfolio rental income growth (other)

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Cost of shares repurchased in April (other)

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Cost of shares repurchased under program (other)

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Debt issue costs (other)

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Debt to gross asset value (other)

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Debt to market capitalization (other)

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Debt to total asset value ratio (other)

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Deferred compensation on restricted shares (other)

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Development contractual obligations (other)

Development costs incurred (other)

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Development entitlements (other)

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Development investment (other)

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Development office space (other)

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Development pipeline cost (other)

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Development pipeline remaining costs (other)

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Development projects as percent of gross asset value (other)

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Development projects in progress (other)

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Development remaining cost (other)

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Development remaining costs (other)

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Diluted earnings per share (other)

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Dividend Per Share (other)

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Dividend declared per share (other)

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Dividend increase streak (other)

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Dividend increases (other)

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Dividend per common share (other)

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Dividend per preferred share (other)

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Dividend per share (other)

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Dividends declared per share (other)

Dividends paid per share (other)

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Dividends payable (other)

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Dividends per share (other)

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DownREIT OP units (other)

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DownREIT OP units outstanding (other)

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DownREIT operating partnership units (other)

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DownREIT units outstanding (other)

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EBITDA (other)

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EV Charging Stations (other)

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EV charging stations (other)

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Earnings Per Share (other)

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Earnings coverage ratio (other)

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Earnings per share (other)

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Earnings to combined fixed charges ratio (other)

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Earnings to fixed charges (other)

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Earnings to fixed charges coverage (other)

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Earnings to fixed charges ratio (other)

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Environmental escrow (other)

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Environmental remediation liability (other)

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Estimated liability for put option (other)

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FFO available for common (other)

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FFO available for common shareholders (other)

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FFO excluding debt charge (other)

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FFO per diluted share (other)

FFO per share excl. charge (other)

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FFO to fixed charges (other)

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FFO to fixed charges coverage (other)

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FFO to fixed charges ratio (other)

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Fixed charge coverage ratio (other)

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Fixed rate debt percentage (other)

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Fixed-rate debt (other)

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Forward sales contracts (other)

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Forward sales shares (other)

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Funds From Operations (other)

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Funds from operations (other)

Funds from operations per diluted share (other)

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Funds from operations per share (other)

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Funds from operations to fixed charges (other)

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Funds from operations to fixed charges ratio (other)

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Geographic footprint (other)

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Holders of record (other)

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Insurance proceeds received (other)

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Interest coverage ratio (other)

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Interest incurred (other)

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Interest rate swap fixed rate (other)

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Interest rate swap notional amount (other)

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Investors' interest in consolidated assets (other)

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LEED Certified Buildings (other)

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LEED certified buildings (other)

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Largest tenant ABR share (other)

Largest tenant concentration (other)

Largest tenant share (other)

Largest tenant share of ABR (other)

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Largest tenant share of annualized base rent (other)

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Largest tenant share of base rent (other)

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Largest tenant share of rent (other)

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Lease commitments (other)

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Lease rental rate spread (other)

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Lease rollover square footage (other)

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Lease signings (other)

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Leased (other)

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Leased rate (other)

Leased square footage expiring (other)

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Leased-occupied spread (other)

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Leases (other)

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Leases expiring 2015 (other)

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Leases in place (other)

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Leases outstanding (other)

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Leases signed (other)

Leasing spread (other)

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Leasing spread cash (other)

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Leasing spread straight-line (other)

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Leasing volume (other)

Market value of shares held by non-affiliates (other)

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Mortgage notes receivable (other)

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Mortgages payable (other)

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New comparable lease rental increase (other)

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New comparable leases signed (other)

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New lease rental increase (other)

New leases comparable spaces (other)

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Note payable for Hillsboro land (other)

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Notes payable (other)

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Notes receivable from employee stock plans (other)

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Number of Reportable Segments (other)

Number of leases (other)

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Obligations under capital leases (other)

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Office development in progress (other)

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Operating partnership units (other)

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Operating partnership units outstanding (other)

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Operating partnership units redeemed (other)

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Operating units outstanding (other)

Pentagon Row estimated total cost (other)

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Pike & Rose Phase I costs incurred (other)

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Pike & Rose Phase IV office space (other)

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Pike & Rose Phase IV space (other)

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Pike & Rose development incurred cost (other)

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Pike & Rose spend (other)

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Pinole Vista Crossing space (other)

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Potential additional payment for Hillsboro (other)

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Preferred shares issued (other)

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Preferred shares outstanding (other)

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Preferred stock (other)

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Prepaid expenses and other assets (other)

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Prepaid rents (other)

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Properties acquired (other)

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Property improvement commitments (other)

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Property operating income (other)

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Quarterly dividend per share (other)

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Ratio of Earnings to Fixed Charges (other)

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Ratio of FFO to Fixed Charges (other)

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Real estate assets (other)

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Real estate assets - Mid-Atlantic (other)

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Real estate assets - Northeast (other)

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Real estate assets - West (other)

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Real estate at cost (other)

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Record Holders (other)

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Record holders (other)

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Redevelopment and expansion properties (other)

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Redevelopment commitments outstanding (other)

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Redevelopment contracts outstanding (other)

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Redevelopment costs stabilizing (other)

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Redevelopment pipeline (other)

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Redevelopment pipeline cost (other)

Redevelopment project cost (other)

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Redevelopment project costs (other)

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Redevelopment projected cost (other)

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Redevelopment projects cost (other)

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Redevelopment projects stabilizing (other)

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Redevelopment projects underway (other)

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Remaining development and redevelopment costs (other)

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Remaining development costs (other)

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Renewal comparable lease rental increase (other)

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Renewal comparable leases signed (other)

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Renewal rental increase (other)

Renewals comparable spaces (other)

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Rent deferral agreements (other)

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Rent deferral collected (other)

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Rent deferral executed (other)

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Rent deferrals (other)

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Rent deferred (other)

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Rent growth on comparable leases (other)

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Rent increase comparable (other)

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Rent increase on new leases (other)

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Rent increase on renewals (other)

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Rental expense ratio (other)

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Rental income (other)

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Rental income components (other)

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Rental income growth (other)

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Rental income growth excluding acquisitions (other)

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Rental increase (other)

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Rental increase cash (other)

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Rental increase comparable (other)

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Rental increase new leases (other)

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Rental increase renewals (other)

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Rental increase straight-line (other)

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Rental rate change on signed leases (other)

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Rental rate increase (other)

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Residential Leases (other)

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Residential apartment units (other)

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Residential leases (other)

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Residential rental income share (other)

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Residential rental units (other)

Residential share of rental income (other)

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Residential units (other)

Residential units in construction (other)

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Residential units under construction (other)

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Retail leases (other)

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Retail leases signed (other)

Retail revenue share (other)

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Retail space leased (other)

Retail space signed (other)

Retail tenants open (other)

Revenue on cash basis (other)

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Revenue recognized on cash basis (other)

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Revolver borrowings (other)

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Revolver capacity (other)

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Revolver interest rate (other)

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Revolver outstanding (other)

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Revolving Credit Facility Available (other)

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Revolving credit borrowings (other)

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Revolving credit drawn (other)

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Revolving credit facility borrowings (other)

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Revolving credit facility capacity (other)

Revolving credit facility drawn (other)

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Same-center NOI growth (other)

Same-center other property income growth (other)

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Same-center properties (other)

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Same-center property operating income growth (other)

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Same-center real estate tax growth (other)

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Same-center rental expense growth (other)

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Same-center rental income growth (other)

Same-center rental income growth by region (other)

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Same-property NOI growth (other)

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Same-property cost reimbursements (other)

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Same-property minimum rent growth (other)

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Same-property rental expense change (other)

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Same-property rental income growth (other)

Santana Row Phase 1 cost incurred (other)

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Santana Row Phase 1 costs incurred (other)

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Santana Row Phase 1 residential units (other)

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Santana Row Phase 1 total expected cost (other)

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Santana Row residential building costs incurred (other)

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Santana Row residential units (other)

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Santana Row spend (other)

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Santana West first phase (other)

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Santana West space (other)

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Secured debt to total asset value ratio (other)

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Security deposits (other)

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Senior notes and debentures (other)

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Shareholders of Record (other)

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Shareholders of record (other)

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Shares outstanding (other)

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Shares placed into treasury (other)

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Shares repurchased in April (other)

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Shares repurchased under program (other)

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Solar installations (other)

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Solar properties (other)

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Space becoming vacant (other)

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Space to re-lease (other)

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States with properties (other)

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States with property footprint (other)

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Syndicated credit facility drawn (other)

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TI and incentives (other)

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Tenant improvement cost (other)

Tenant improvement costs (other)

Tenant improvement incentives (other)

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Tenant improvement spend (other)

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Tenant improvements (other)

Tenant improvements (new leases) (other)

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Tenant improvements (renewals) (other)

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Tenant improvements and incentives (other)

Tenant improvements and incentives (new) (other)

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Tenant improvements and incentives (renewal) (other)

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Tenant improvements new leases (other)

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Tenant improvements per sqft (other)

Tenant improvements per square foot (other)

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Tenant improvements renewals (other)

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Tenant leases (other)

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Tenants (other)

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Tenants closed by government order (other)

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Tenants on cash basis (other)

Tenants on cash basis revenue (other)

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Tenants on cash-basis revenue recognition (other)

Tenants open (other)

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Tenants with deferred rent (other)

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Tenants with rent deferral agreements (other)

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Tenants with rent deferrals (other)

Top tenant rent share (other)

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Total assets (other)

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Total debt outstanding (other)

Total liabilities (other)

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Total shareholders' equity (other)

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Treasury Shares (other)

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Treasury shares (other)

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Treasury shares at cost (other)

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Unencumbered asset value to unsecured debt ratio (other)

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Unregistered shares issued (other)

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Vacant space from lease rejections (other)

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Variable rate debt (other)

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Variable-rate debt (other)

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Virginia Gateway space (other)

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Weighted Average Interest Rate (other)

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Weighted Average Shares (other)

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Weighted average common shares (other)

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Weighted average diluted shares (other)

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Weighted average interest rate (other)

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Weighted average shares (other)

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Weighted-average remaining lease term (other)

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Workforce reduction (other)

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Properties sold (properties)

On-site solar capacity (renewable_capacity)

No 10-Q data

Residential Units (rooms)

Same-center rental income growth (same_store_sales)

Square footage (square_footage)

Units (units_shipped)

No 10-K data
Human capital disclosures. Workforce totals and demographics are point-in-time. Flow metrics use the year-to-date period for 10-Q and full year for 10-K. Workforce actions (RIFs, restructurings, acquisition-related changes) are listed in the table at the bottom.

Workforce Totals

No 10-Q data
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Demographics

No demographic data found.

Workforce Breakdowns

No 10-Q data

HCM Metrics — Point-in-Time

No point-in-time HCM metrics found.

HCM Metrics — Flow (Annual / YTD)

No flow HCM metrics found.

Workforce Actions

Period EndTypeStatusAffected% WorkforceAnnouncedExpected CompletionGeographySegment / FunctionChargeSourceNote
2024-12-31othercompletedUnited StatesExecutive managementUSD 4 (millions)MD&A
f5-10k / MiMo-V2.6-Flash-fp8-HTML
One-time charge for the departure of an executive officer; no headcount or date disclosed. Related consulting agreement with the former officer effective 2025-01-01 filed as Exhibit 10.40.
2015-12-31acquisition_additioncompleted2015-01-092015-01-09Mountain View, CaliforniaRetail (shopping center)business_combinations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Controlling interest in San Antonio Center acquired for $62.2M total value; no headcount impact disclosed.
2015-12-31divestiture_reductioncompleted2015-04-242015-04-24San Antonio, TexasRetail (Houston Street property)other
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Property sold for $46.1M with $11.5M gain; no headcount impact disclosed.
2015-12-31acquisition_additioncompleted2015-05-042015-05-04Coconut Grove, Miami, FloridaRetail (CocoWalk)business_combinations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML
CocoWalk acquired for $87.5M (80% common interest); no headcount impact disclosed. Partial interests in eight additional Coconut Grove buildings acquired 2015-07-01 and 2015-12-16 for $7.8M.
2015-12-31acquisition_additioncompleted2015-10-012015-10-01South Miami, FloridaRetail/mixed-use (The Shops at Sunset Place)business_combinations_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Acquired at gross value of $110.2M (85% interest), including assumption of a $70.8M mortgage; no headcount impact disclosed.
2015-12-31divestiture_reductioncompleted2015-11-192015-11-19Wellington, FloridaRetail (Courtyard Shops property)other
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Property sold for $52.8M with $16.8M gain; no headcount impact disclosed.
2015-12-31acquisition_additioncompleted2016-01-132016-01-13United States (six retail properties across multiple states)Retail (Clarion Partners joint venture)subsequent_events
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Post-fiscal-year-end acquisition of partner's 70% JV interest for $153.7M ($130M cash plus assumption of $34.4M of mortgage debt); six properties consolidated from acquisition date. No headcount impact disclosed.
2013-12-31divestiture_reductioncompleted2013-07-222013-07-22San Diego, CaliforniaReal estate — Fifth Avenue (final building)MD&A
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Fee interest sold for $15.3 million with a $10.7 million gain; associated headcount not disclosed.
2013-12-31divestiture_reductioncompleted2013-09-102013-09-10Forest Hills (Queens), New YorkReal estate — building saleMD&A
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Fee interest sold for $20.4 million with a $13.2 million gain; associated headcount not disclosed.
2013-12-31acquisition_additionannounced2014-01-012014-01-01Shrewsbury and Sea Girt, New JerseyRetail — The Grove at Shrewsbury and Brook 35 Plazasubsequent_events
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Controlling interest acquired for $161 million gross value effective January 1, 2014 (after fiscal year-end); headcount added not disclosed.
2004-12-31restructuringcompleted2002-12-312004-12-31United StatesCorporate / ManagementUSD 14 (millions)restructuring_footnote
f5-10k / Qwen3.6-27B-Q8_0
Charge recorded in 2002 for accelerated executive transition plan. $12.7 million expended in 2003; $0.3 million remains to be expended as of Dec 31, 2004. No specific employee count disclosed.
2003-12-31restructuringin_progress2002-12-20United StatesCorporate / ExecutiveUSD 14 (millions)restructuring_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Accelerated executive transition charge recorded Q4 2002; during fiscal 2003, $12.7M was expended, $0.3M reversed, and $0.8M remained to be expended at year-end. Employee count not disclosed. Charge value shown is the total program charge recorded in 2002.
2003-12-31restructuringcompleted2002-02-282003-12-31ManagementUSD 9 (millions)MD&A
f5-10k / Qwen3.6-27B-Q8_0
Adoption of new business plan and management succession plan. Charge of $8.5 million for severance and other compensation costs for several senior officers. All charges expended during 2002.
2003-12-31restructuringin_progress2002-12-20Executive ManagementUSD 14 (millions)MD&A
f5-10k / Qwen3.6-27B-Q8_0
Accelerated executive transition plan. Charge of $13.8 million recorded in Q4 2002. $12.7 million expended in 2003, $0.3 million reversed, and $0.8 million remains to be expended as of Dec 31, 2003.
2003-09-30restructuringin_progress2002-12-202005-12-31United StatesCorporate / ExecutiveUSD 14 (millions)restructuring_footnote
f5-10q / MiMo-V2.6-Flash-fp8-HTML
Charge recorded Q4 2002 for CEO transition payments/benefits and related costs; $6.9M of the $7.9M unpaid balance paid in first nine months of 2003, $1.0M remaining to be paid through 2005-12-31. No employee count disclosed.
2003-06-30restructuringcompleted2002-12-202003-01-01United StatesExecutive management / corporateUSD 14 (millions)restructuring_footnote
f5-10q / MiMo-V2.6-Flash-fp8-HTML
CEO/chairman transition effective 2003-01-01; charge recorded in Q4 2002, not this period. No employee count disclosed; $6.3M of the $7.9M unpaid balance was paid during the first six months of 2003, leaving $1.6M to be paid over three years.
2003-06-30restructuringin_progress2002-12-202006-06-30Executive ManagementUSD 14 (millions)restructuring_footnote
f5-10q / Qwen3.6-27B-Q8_0
Resignation of CEO/Chairman Steven J. Guttman effective Jan 1, 2003. $13.8M charge recorded in Q4 2002 for payments/benefits. $6.3M paid in first six months of 2003; $1.6M remaining unpaid to be paid over next three years.
2003-03-31othercompleted2002-12-202003-01-01United StatesExecutive managementUSD 14 (millions)restructuring_footnote
f5-10q / MiMo-V2.6-Flash-fp8-HTML
CEO/Chairman resignation effective 2003-01-01 with successor named; $13.8M charge recorded in Q4 2002, of which $6.2M was paid during Q1 2003, leaving $1.7M payable over three years. No employee count disclosed.
2003-03-31restructuringin_progress2002-12-20Executive ManagementUSD 14 (millions)restructuring_footnote
f5-10q / Qwen3.6-27B-Q8_0
Resignation of CEO/Chairman Steven J. Guttman effective Jan 1, 2003. Charge includes payments and benefits pursuant to contractual arrangements. $6.2M paid in Q1 2003; $1.7M unpaid balance to be paid over next three years.
2002-12-31restructuringcompleted2002-02-28Corporate management / senior officersUSD 9 (millions)restructuring_footnote
f5-10k / GLM-5.3-flash-HTML
Concurrent with adoption of a new business plan and management succession plan. The $8.5M reserve comprised $6.9M severance and other compensation for several senior officers plus $1.6M development cost write-off; all charges were expended during 2002. A related $9.7M impairment on abandoned development projects (primarily Tanasbourne, Portland, OR) and a $712,000 accelerated performance share charge were recorded under the same plan. No headcount figure disclosed; MD&A attributes lower 2002 administrative/payroll costs to this restructuring.
2002-12-31restructuringcompleted12002-12-202003-01-01Executive management (Chief Executive Officer)USD 14 (millions)restructuring_footnote
f5-10k / GLM-5.3-flash-HTML
Q4 2002 charge for payments and benefits to departing CEO Steven J. Guttman under his contractual arrangements plus other transition costs, recorded as part of the $22.3M restructuring expense line. Resignation as Trustee, CEO and Chairman effective January 1, 2003; Donald C. Wood named CEO. $7.9M of the charge remained accrued at December 31, 2002, with the majority paid in Q1 2003. Count reflects the single named departing executive; other transition costs are not attributed to specific headcount.
2002-12-31restructuringcompleted2002-02-282002-12-31United StatesSenior managementUSD 9 (millions)restructuring_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Restructuring reserve of $8.5M comprised $6.9M severance/compensation for several senior officers plus $1.6M development cost write-off; all charges expended during 2002. Part of a larger $18.2M charge that also included a $9.7M impairment on abandoned development projects.
2002-12-31restructuringcompleted2002-12-202003-03-31United StatesExecutive leadershipUSD 14 (millions)restructuring_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML
CEO transition charge for payments/benefits to former CEO Steven J. Guttman and other transition costs; $7.9M accrued unpaid at year-end, majority paid in Q1 2003. No employee count disclosed.
2002-12-31restructuringcompleted2002-02-282002-12-31United StatesSenior OfficersUSD 9 (millions)MD&A
f5-10k / Qwen3.6-27B-Q8_0
Adoption of new business plan and management restructuring. Charge included $6.9 million severance and other compensation costs for several senior officers and $1.6 million write-off of development costs. All charges expended during 2002.
2002-12-31restructuringcompleted2002-12-202003-03-31United StatesExecutive ManagementUSD 14 (millions)MD&A
f5-10k / Qwen3.6-27B-Q8_0
Resignation of CEO Steven J. Guttman effective Jan 1, 2003. Charge for payments and benefits to Mr. Guttman and other transition costs. Majority of accrual paid in Q1 2003.
2002-09-30restructuringcompleted2002-02-28United StatesCorporate / senior managementUSD 9 (millions)restructuring_footnote
f5-10q / MiMo-V2.6-Flash-fp8-HTML
Management succession and team restructuring; $6.9M severance for several senior officers plus $1.6M development cost write-off. No employee count disclosed; all reserve charges expended in the nine months ended 2002-09-30.
2002-09-30restructuringcompleted2002-02-28Senior officersUSD 7 (millions)restructuring_footnote
f5-10q / Qwen3.6-27B-Q8_0
Severance and other compensation costs for several senior officers related to management restructuring. Total restructuring reserve of $8.5 million was fully expended in the first nine months of 2002.
2002-06-30restructuringin_progress2002-02-282002-09-30United StatesCorporate — senior managementUSD 7 (millions)restructuring_footnote
f5-10q / MiMo-V2.6-Flash-fp8-HTML
Management restructuring tied to new business plan; severance for several senior officers plus $1.6M development cost write-off comprised the $8.5M restructuring charge (part of an $18.2M total charge including $9.7M impairment). Charges against reserve totaled $8.3M in 1H 2002, leaving $200K reserve expected to be used in Q3 2002. Number of employees affected not disclosed.
2002-06-30restructuringin_progress2002-02-282002-09-30Senior officersUSD 7 (millions)restructuring_footnote
f5-10q / Qwen3.6-27B-Q8_0
Severance and other compensation costs for several senior officers related to management restructuring. Total restructuring charge was $8.5 million including $1.6 million write-off of development costs.
2002-03-31restructuringin_progress2002-02-28United StatesCorporate / senior managementUSD 9 (millions)restructuring_footnote
f5-10q / MiMo-V2.6-Flash-fp8-HTML
New business plan and management succession plan adopted 2002-02-28; total charge $18.2M including $6.9M severance and other compensation for several senior officers plus $1.6M development cost write-off. No headcount affected disclosed. $7.0M applied against the $8.5M reserve in Q1 2002. Related executive termination agreements (Ward, Herman) filed as exhibits are components of this same management restructuring.
2002-03-31restructuringin_progress2002-02-28Senior managementUSD 9 (millions)restructuring_footnote
f5-10q / Qwen3.6-27B-Q8_0
Adoption of new business plan and management succession plan. Charge includes $6.9M severance for several senior officers and $1.6M write-off of development costs.
2001-12-31restructuringannounced2002-02-28United StatesCorporate managementUSD 17 (millions)subsequent_events
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Charge range of $16M–$18M includes severance and compensation costs from management restructuring plus write-down of Tanasbourne and other development projects; number of employees affected not disclosed
2001-12-31othercompleted12002-03-012002-03-01United StatesExecutive — Chief Investment OfficerUSD 1,035,400 (dollars)subsequent_events
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Executive termination without cause effective 2002-03-01; severance payment of $1,035,400 plus consulting agreement through 2002-09-30
2001-12-31othercompleted12002-02-282002-08-30United StatesExecutive — Chief Financial Officersubsequent_events
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Cecily A. Ward ceased serving as executive officer 2002-02-28; will serve as vice-president until 2002-08-30 transitioning duties
2001-12-31restructuringannounced2002-02-282002-03-31United StatesManagementUSD 17 (millions)subsequent_events
f5-10k / Qwen3.6-27B-Q8_0
Trust estimates charge of $16 million to $18 million in first quarter of 2002 for severance and other compensation costs related to management restructuring and write-down of development projects.
2000-12-31restructuringcompleted1998-10-012000-12-31United StatesCorporateUSD 5 (millions)MD&A
f5-10k / Qwen3.6-27B-Q8_0
Comprehensive restructuring program completed in Q4 1998; $4.7 million charge recorded in 1998. All costs expended as of Dec 31, 2000.
1999-12-31restructuringcompleted1998-09-30United StatesCorporate and AcquisitionUSD 5 (millions)MD&A
f5-10k / Qwen3.6-27B-Q8_0
Comprehensive restructuring program completed in Q4 1998. Workforce reduced by approximately 15%, including several vice presidents and senior personnel. Charge included severance, office closing, and consulting fees.
1999-09-30restructuringcompleted1998-10-011999-12-31USD 5 (millions)MD&A
f5-10q / Qwen3.6-27B-Q8_0
Comprehensive restructuring program begun in Q4 1998; $3.6M cash paid as of Sept 30, 1999.
1999-06-30restructuringin_progress1998-09-301999-12-31USD 5 (millions)restructuring_footnote
f5-10q / Qwen3.6-27B-Q8_0
Comprehensive restructuring program begun in Q4 1998. $2.9 million paid as of June 30, 1999; remainder expected in 1999.
1999-03-31restructuringin_progress1998-09-301999-12-31USD 5 (millions)restructuring_footnote
f5-10q / MiMo-V2.6-Flash-fp8-HTML
Comprehensive restructuring program begun in Q4 1998; $2.3M paid against reserve as of 1999-03-31, remainder expected during 1999. No employee counts disclosed.
1999-03-31restructuringin_progress1998-09-301999-12-31USD 5 (millions)restructuring_footnote
f5-10q / Qwen3.6-27B-Q8_0
Comprehensive restructuring program begun in Q4 1998; $2.3M cash paid as of March 31, 1999, with remainder expected in 1999.
1998-12-31restructuringcompleted15%1998-09-301998-12-31Company-wide; included significant downsizing of the acquisition departmentUSD 5 (millions)restructuring_footnote
f5-10k / GLM-5.3-flash-HTML
One-time $4.7 million charge recorded at September 30, 1998 (fiscal Q3; used as announcement_date since no separate announcement date is disclosed) for a comprehensive restructuring implemented in Q4 1998. Workforce reduced by approximately 15% (percent shown as approximate), including several vice presidents and other senior personnel. Operating model shifted from functional hierarchy to asset-management teams responsible for portfolios. Charge covered employee severance, office closing and downsizing expenses, and legal/consulting fees. $1.5 million of the reserve was paid through December 31, 1998, with the remainder expected to be paid in 1999. Program itself was completed in Q4 1998 per MD&A.
1998-12-31restructuringcompleted15%1998-09-301998-12-31United StatesCorporate / all functionsUSD 5 (millions)restructuring_footnote
f5-10k / MiMo-V2.6-Flash-fp8-HTML
Charge recorded at September 30, 1998; program implemented during Q4 1998. Workforce reduced by approximately 15%, including several vice presidents and other senior personnel. Cash payments of $1.5M made through year-end; remaining cash expected in 1999. Shift from functional hierarchy to asset management model with three regional operating teams.
1998-12-31restructuringcompleted15%1998-09-301998-12-31United StatesCorporate and AcquisitionUSD 5 (millions)MD&A
f5-10k / Qwen3.6-27B-Q8_0
Comprehensive restructuring program completed in Q4 1998. Workforce reduced by approximately 15% including several vice presidents and senior personnel. Charge included severance, office closing, and legal/consulting fees.
1998-09-30restructuringin_progress15%1998-09-301998-12-31United StatesCorporate, including acquisition departmentUSD 5 (millions)restructuring_footnote
f5-10q / MiMo-V2.6-Flash-fp8-HTML
Charge covers severance, office closing/downsizing, and legal and consulting fees; workforce cut of approximately 15% included several vice presidents and other senior personnel, with a shift to an asset-management operating model and a downsized acquisition department. Absolute headcount affected not disclosed.
1998-09-30restructuringin_progress15%1998-09-301998-12-31Corporate and AcquisitionUSD 5 (millions)restructuring_footnote
f5-10q / Qwen3.6-27B-Q8_0
Workforce reduced by approx 15% including senior personnel; shift to asset management discipline.
1997-12-31restructuringcompleted1997-12-311997-12-31Executive ManagementUSD 2 (millions)MD&A
f5-10k / Qwen3.6-27B-Q8_0
In 1997 the Trust incurred $2.0 million of nonrecurring costs associated with a reorganization of its executive management. CFO resigned, SVP Acquisitions agreement terminated, COO to leave in 1998.