10-Q Filing

Douglas Elliman Inc. CIK: 1878897 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001878897-22-000019`
Period End Date	20220331
Filing Date	20220511
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	doug-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 94 Income Statement 32 Cash Flow Statement 36 Stockholders Equity 20

Balance Sheet 94 line items

Line Item	Tag	Value	Unit	Period
Long-term investments, fair value	`InvestmentsFairValueDisclosure`	$3.76M	USD	Point-in-time
Long-term investments, fair value	`InvestmentsFairValueDisclosure`	$3.03M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$203.67M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$211.62M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Receivables	`AccountsReceivableNetCurrent`	$32.49M	USD	Point-in-time
Receivables	`AccountsReceivableNetCurrent`	$27.40M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Agent receivables, net	`AgentReceivablesNetCurrent`	$14.60M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Agent receivables, net	`AgentReceivablesNetCurrent`	$9.19M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	81.24M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	81.21M	shares	Point-in-time
Restricted cash and cash equivalents	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$7.86M	USD	Point-in-time
Restricted cash and cash equivalents	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$15.34M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	81.24M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$12.17M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$22.73M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	81.21M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$280.81M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$276.26M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$39.38M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$38.39M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$123.54M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$125.65M	USD	Point-in-time
Long-term investments (includes $3,033 and $3,756 at fair value)	`OtherLongTermInvestments`	$8.09M	USD	Point-in-time
Long-term investments (includes $3,033 and $3,756 at fair value)	`OtherLongTermInvestments`	$7.40M	USD	Point-in-time
Contract assets, net	`ContractWithCustomerAssetNetNoncurrent`	$29.00M	USD	Point-in-time
Contract assets, net	`ContractWithCustomerAssetNetNoncurrent`	$25.72M	USD	Point-in-time
Goodwill	`Goodwill`	$32.57M	USD	Point-in-time
Goodwill	`Goodwill`	$32.57M	USD	Point-in-time
Other intangible assets, net	`OtherIntangibleAssetsNet`	$74.22M	USD	Point-in-time
Other intangible assets, net	`OtherIntangibleAssetsNet`	$74.42M	USD	Point-in-time
Equity-method investments	`EquityMethodInvestments`	$2.51M	USD	Point-in-time
Equity-method investments	`EquityMethodInvestments`	$2.52M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.51M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$4.84M	USD	Point-in-time
Total assets	`Assets`	$588.23M	USD	Point-in-time
Total assets	`Assets`	$595.17M	USD	Point-in-time
Current portion of notes payable and other obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$9.40M	USD	Point-in-time
Current portion of notes payable and other obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$12.53M	USD	Point-in-time
Current operating lease liability	`OperatingLeaseLiabilityCurrent`	$23.21M	USD	Point-in-time
Current operating lease liability	`OperatingLeaseLiabilityCurrent`	$22.67M	USD	Point-in-time
Income taxes payable, net	`TaxesPayableCurrent`	$1.24M	USD	Point-in-time
Income taxes payable, net	`TaxesPayableCurrent`	$2.41M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.30M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.87M	USD	Point-in-time
Commissions payable	`CommissionsPayableCurrent`	$35.77M	USD	Point-in-time
Commissions payable	`CommissionsPayableCurrent`	$30.80M	USD	Point-in-time
Accrued salaries and benefits	`EmployeeRelatedLiabilitiesCurrent`	$7.38M	USD	Point-in-time
Accrued salaries and benefits	`EmployeeRelatedLiabilitiesCurrent`	$25.45M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$6.69M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityCurrent`	$16.77M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$22.26M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$28.05M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$132.47M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$124.31M	USD	Point-in-time
Notes payable and other obligations less current portion	`LongTermDebtAndCapitalLeaseObligations`	$169.00K	USD	Point-in-time
Notes payable and other obligations less current portion	`LongTermDebtAndCapitalLeaseObligations`	$176.00K	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxLiabilitiesNet`	$11.41M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxLiabilitiesNet`	$11.41M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$130.07M	USD	Point-in-time
Non-current operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$129.50M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityNoncurrent`	$39.56M	USD	Point-in-time
Contract liabilities	`ContractWithCustomerLiabilityNoncurrent`	$34.95M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$188.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$188.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$301.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$313.30M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, par value $0.01 per share, 10,000,000 shares authorized	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, par value $0.01 per share, 10,000,000 shares authorized	`PreferredStockValue`	-	USD	Point-in-time
Common stock, par value $0.01 per share, 250,000,000 shares authorized, 81,235,626 and 81,210,626 shares issued and outstanding	`CommonStockValue`	$812.00K	USD	Point-in-time
Common stock, par value $0.01 per share, 250,000,000 shares authorized, 81,235,626 and 81,210,626 shares issued and outstanding	`CommonStockValue`	$812.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$278.50M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$281.15M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$622.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.07M	USD	Point-in-time
Total Douglas Elliman Inc. stockholders' equity	`StockholdersEquity`	$279.93M	USD	Point-in-time
Total Douglas Elliman Inc. stockholders' equity	`StockholdersEquity`	$285.03M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$1.94M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$2.09M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$163.59M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$281.87M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$287.12M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$183.52M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$588.23M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$595.17M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$272.78M	USD	1 Quarter
Total revenues	`RevenueFromContractWithCustomerExcludingAssessedTax`	$308.90M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$19.35M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$19.31M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$19.31M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$32.83M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.08M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.12M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$7.88M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$14.23M	USD	1 Quarter
Interest income	`InterestIncomeOther`	$47.00K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$39.00K	USD	1 Quarter
Equity in earnings from equity-method investments	`IncomeLossFromEquityMethodInvestments`	$532.00K	USD	1 Quarter
Equity in earnings from equity-method investments	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Change in fair value of contingent liability	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$-73.00K	USD	1 Quarter
Change in fair value of contingent liability	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	-	USD	1 Quarter
Investment income (loss)	`InvestmentIncomeNet`	$-102.00K	USD	1 Quarter
Investment income (loss)	`InvestmentIncomeNet`	$752.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$14.25M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$9.20M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$2.92M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$281.00K	USD	1 Quarter
Net income	`ProfitLoss`	$13.96M	USD	1 Quarter
Net income	`ProfitLoss`	$6.29M	USD	1 Quarter
Net loss attributed to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Net loss attributed to non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	$-225.00K	USD	1 Quarter
Net income attributed to Douglas Elliman Inc.	`NetIncomeLoss`	$6.51M	USD	1 Quarter
Net income attributed to Douglas Elliman Inc.	`NetIncomeLoss`	$13.96M	USD	1 Quarter
Net income applicable to common shares attributed to Douglas Elliman Inc. (in dollars per share)	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Net income applicable to common shares attributed to Douglas Elliman Inc. (in dollars per share)	`EarningsPerShareBasic`	$0.18	USD	1 Quarter
Net income applicable to common shares attributed to Douglas Elliman Inc. (in dollars per share)	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Net income applicable to common shares attributed to Douglas Elliman Inc. (in dollars per share)	`EarningsPerShareDiluted`	$0.18	USD	1 Quarter

Cash Flow Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.78M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$13.99M	USD	1 Quarter
Investments in equity-method investments	`PaymentsToAcquireEquityMethodInvestments`	$100.00K	USD	1 Quarter
Investments in equity-method investments	`PaymentsToAcquireEquityMethodInvestments`	-	USD	1 Quarter
Distributions from equity-method investments	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	$60.00K	USD	1 Quarter
Distributions from equity-method investments	`ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital`	-	USD	1 Quarter
Purchase of debt securities	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	-	USD	1 Quarter
Purchase of debt securities	`PaymentsToAcquireAvailableForSaleSecuritiesDebt`	$701.00K	USD	1 Quarter
Purchase of equity securities	`PaymentsToAcquireEquitySecuritiesFvNi`	-	USD	1 Quarter
Purchase of equity securities	`PaymentsToAcquireEquitySecuritiesFvNi`	$25.00K	USD	1 Quarter
Purchase of long-term investments	`PaymentsToAcquireLongtermInvestments`	$200.00K	USD	1 Quarter
Purchase of long-term investments	`PaymentsToAcquireLongtermInvestments`	-	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$849.00K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$597.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-597.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.81M	USD	1 Quarter
Repayment of debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Repayment of debt	`RepaymentsOfLongTermDebt`	$3.13M	USD	1 Quarter
Dividends on common stock	`PaymentsOfDividendsCommonStock`	-	USD	1 Quarter
Dividends on common stock	`PaymentsOfDividendsCommonStock`	$4.06M	USD	1 Quarter
Contributions from non-controlling interest	`ProceedsFromMinorityShareholders`	-	USD	1 Quarter
Contributions from non-controlling interest	`ProceedsFromMinorityShareholders`	$375.00K	USD	1 Quarter
Earn out payments	`PaymentForContingentConsiderationLiabilityFinancingActivities`	$21.00K	USD	1 Quarter
Earn out payments	`PaymentForContingentConsiderationLiabilityFinancingActivities`	$18.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-21.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.83M	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$13.38M	USD	1 Quarter
Net (decrease) increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-15.43M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$106.70M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$228.87M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$213.44M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$120.08M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$228.87M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$213.44M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$106.70M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$120.08M	USD	Point-in-time

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Distributions and dividends on common stock (in dollars per share)	`CommonStockDividendsPerShareDeclared`	$0.05	USD	1 Quarter
Beginning Balance (in shares)	`CommonStockSharesOutstanding`	81.21M	shares	Point-in-time
Beginning Balance (in shares)	`CommonStockSharesOutstanding`	81.24M	shares	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$163.59M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$281.87M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$287.12M	USD	Point-in-time
Beginning Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$183.52M	USD	Point-in-time
Net income	`ProfitLoss`	$6.29M	USD	1 Quarter
Net income	`ProfitLoss`	$13.96M	USD	1 Quarter
Dividends on common stock	`DividendsCommonStockCash`	$4.06M	USD	1 Quarter
Restricted stock grants, net	`StockIssuedDuringPeriodValueRestrictedStockAwardGross`	-	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$2.65M	USD	1 Quarter
Contributions from non-controlling interest	`NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance`	$375.00K	USD	1 Quarter
Net transfers from Former Parent	`NoncontrollingInterestIncreaseFromDistributionsToNoncontrollingInterestHolders`	$5.97M	USD	1 Quarter
Ending Balance (in shares)	`CommonStockSharesOutstanding`	81.21M	shares	Point-in-time
Ending Balance (in shares)	`CommonStockSharesOutstanding`	81.24M	shares	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$163.59M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$281.87M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$287.12M	USD	Point-in-time
Ending Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$183.52M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.