ALEXANDRIA REAL ESTATE EQUITIES INC
For the period ended Mar 31, 2024. Filed Apr 22, 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 Apr 22, 2024
ARE$44.70-2.6%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
| Alexandria Real Estate Equities, Inc.Consolidated Statements of Cash Flows(In thousands)(Unaudited) | ||
|---|---|---|
| Three Months Ended March 31, | ||
| 2024 | 2023 | |
| Operating Activities: | ||
| Net income | $219,176 | $121,693 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 287,554 | 265,302 |
| Gain on sales of real estate | (392) | — |
| Equity in earnings of unconsolidated real estate joint ventures | (155) | (194) |
| Distributions of earnings from unconsolidated real estate joint ventures | 884 | 285 |
| Amortization of loan fees | 4,142 | 3,639 |
| Amortization of debt discounts | 318 | 288 |
| Amortization of acquired above- and below-market leases | (30,340) | (21,636) |
| Deferred rent | (48,251) | (33,191) |
| Stock compensation expense | 17,125 | 16,486 |
| Investment (income) loss | (43,284) | 45,111 |
| Changes in operating assets and liabilities: | ||
| Tenant receivables | 731 | (582) |
| Deferred leasing costs | (23,970) | (33,469) |
| Other assets | (40,728) | (25,422) |
| Accounts payable, accrued expenses, and other liabilities | (1,653) | (32,740) |
| Net cash provided by operating activities | 341,157 | 305,570 |
| Investing Activities: | ||
| Proceeds from sales of real estate | 16,670 | — |
| Additions to real estate | (693,268) | (873,366) |
| Purchases of real estate | (194,002) | (177,543) |
| Change in escrow deposits | (1,008) | 9,366 |
| Investments in unconsolidated real estate joint ventures | (3,224) | (106) |
| Additions to non-real estate investments | (60,572) | (47,401) |
| Sales of and distributions from non-real estate investments | 40,550 | 49,385 |
| Net cash used in investing activities | $(894,854) | $(1,039,665) |
| Alexandria Real Estate Equities, Inc.Consolidated Statements of Cash Flows(In thousands)(Unaudited) | ||
|---|---|---|
| Three Months Ended March 31, | ||
| 2024 | 2023 | |
| Financing Activities: | ||
| Borrowings under secured notes payable | $10,216 | $14,428 |
| Proceeds from issuance of unsecured senior notes payable | 998,806 | 996,205 |
| Borrowings under unsecured senior line of credit | — | 375,000 |
| Repayments of borrowings under unsecured senior line of credit | — | (375,000) |
| Proceeds from issuances under commercial paper program | 3,170,000 | 775,000 |
| Repayments of borrowings under commercial paper program | (3,270,000) | (400,000) |
| Payments of loan fees | (10,118) | (9,989) |
| Taxes paid related to net settlement of equity awards | (23,964) | (7,854) |
| Dividends on common stock | (221,824) | (209,131) |
| Contributions from and sales of noncontrolling interests | 82,853 | 79,337 |
| Distributions to and purchases of noncontrolling interests | (111,540) | (63,186) |
| Net cash provided by financing activities | 624,429 | 1,174,810 |
| Effect of foreign exchange rate changes on cash and cash equivalents | 192 | (306) |
| Net increase in cash, cash equivalents, and restricted cash | 70,924 | 440,409 |
| Cash, cash equivalents, and restricted cash as of the beginning of period | 660,771 | 857,975 |
| Cash, cash equivalents, and restricted cash as of the end of period | $731,695 | $1,298,384 |
| Supplemental Disclosure and Non-Cash Investing and Financing Activities: | ||
| Cash paid during the period for interest, net of interest capitalized | $34,901 | $21,519 |
| Accrued construction for current-period additions to real estate | $318,041 | $419,029 |
| Contribution of assets from and issuance of noncontrolling interest to real estate joint venture partner | $103,547 | $33,250 |
| Reallocation of additional paid-in-capital to consolidated joint venture partner’s non-controlling interest | $30,185 | $— |
| Transfer of equipment and/or real estate assets from tenants | $11,965 | $— |
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