REALTY INCOME CORP
For the period ended Mar 31, 2024. Filed May 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
O$59.54+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows
(in thousands) (unaudited)
| Three months ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | $133,899 | $226,122 |
| Adjustments to net income: | ||
| Depreciation and amortization | 581,064 | 451,477 |
| Amortization of share-based compensation | 34,003 | 6,300 |
| Non-cash revenue adjustments | (30,586) | (19,127) |
| Amortization of net premiums on mortgages payable | (122) | (3,200) |
| Amortization of net premiums on notes payable | (4,150) | (15,532) |
| Amortization of deferred financing costs | 5,819 | 6,474 |
| Gain on interest rate swaps | (1,800) | (1,801) |
| Foreign currency and unrealized derivative gain, net | (12,570) | (8,942) |
| Gain on sales of real estate | (16,574) | (4,279) |
| Equity in losses of unconsolidated entities | 1,676 | — |
| Distributions on common equity from unconsolidated entities | 5,249 | — |
| Provisions for impairment | 89,489 | 13,178 |
| Change in assets and liabilities | ||
| Accounts receivable and other assets | (32,682) | 42,081 |
| Accounts payable, accrued expenses and other liabilities | 25,958 | 38,483 |
| Net cash provided by operating activities | 778,673 | 731,234 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Investment in real estate | (535,903) | (1,675,136) |
| Improvements to real estate, including leasing costs | (9,628) | (13,860) |
| Investment in unconsolidated entities | (38,070) | — |
| Proceeds from sales of real estate | 95,624 | 28,594 |
| Proceeds from note receivable | 5,468 | — |
| Insurance proceeds received | 16 | 6,282 |
| Non-refundable escrow deposits | — | (23,599) |
| Net cash acquired in merger | 93,683 | — |
| Net cash used in investing activities | (388,810) | (1,677,719) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Cash distributions to common stockholders | (636,499) | (497,245) |
| Cash distributions to preferred stockholders | (2,588) | — |
| Borrowings on line of credit and commercial paper programs | 8,018,932 | 4,249,746 |
| Payments on line of credit and commercial paper programs | (7,748,935) | (5,690,060) |
| Proceeds from term loan | — | 1,029,383 |
| Principal payment on term loan | (250,000) | — |
| Proceeds from notes payable issued | 1,250,000 | 1,090,968 |
| Principal payment on notes payable | (499,999) | — |
| Principal payments on mortgages payable | (621,175) | (1,233) |
| Proceeds from common stock offerings, net | 543,538 | 796,190 |
| Proceeds from dividend reinvestment and stock purchase plan | 3,117 | 2,711 |
| Distributions to noncontrolling interests | (2,268) | (1,479) |
| Net payments on derivative settlements | — | (6,452) |
| Debt issuance costs | (28,603) | (16,603) |
| Other items, including shares withheld upon vesting | (8,493) | (6,102) |
| Net cash provided by financing activities | 17,027 | 949,824 |
| Effect of exchange rate changes on cash and cash equivalents | (2,279) | 13,545 |
| Net increase in cash, cash equivalents and restricted cash | 404,611 | 16,884 |
| Cash, cash equivalents and restricted cash, beginning of period | 292,175 | 226,881 |
| Cash, cash equivalents and restricted cash, end of period | $696,786 | $243,765 |
For supplemental disclosures, seenote 19, Supplemental Disclosures of Cash Flow Information.
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