Douglas Emmett Inc
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
View on SEC.govAbout this filing
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.
Sep 30, 2024 · Filed Nov 8, 2024
DEI$10.00-3.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating Activities | ||
| Net income (loss) | $15,102 | $(19,932) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Income from unconsolidated Fund | (1,785) | (1,177) |
| Depreciation and amortization | 288,441 | 336,771 |
| Net accretion of acquired lease intangibles | (6,262) | (8,156) |
| Straight-line rent | (1,541) | (2,007) |
| Loan premium amortized and written off | (282) | (344) |
| Deferred loan costs amortized and written off | 6,811 | 6,623 |
| Amortization of stock-based compensation | 7,568 | 7,553 |
| Operating distributions from unconsolidated Fund | 899 | 957 |
| Purchase of interest rate caps | — | (1,622) |
| Change in working capital components: | ||
| Tenant receivables | 1,725 | (1,676) |
| Interest payable, accounts payable and deferred revenue | 31,619 | 41,277 |
| Security deposits | 809 | 974 |
| Other assets | (8,514) | (27,032) |
| Net cash provided by operating activities | 334,590 | 332,209 |
| Investing Activities | ||
| Capital expenditures for improvements to real estate | (128,244) | (144,842) |
| Capital expenditures for developments | (26,567) | (37,297) |
| Insurance recoveries for damage to real estate | 3,258 | 1,686 |
| Acquisition of additional interest in unconsolidated Fund | (5,214) | — |
| Capital distributions from unconsolidated Fund | 197 | 80 |
| Net cash used in investing activities | (156,570) | (180,373) |
| Financing Activities | ||
| Proceeds from borrowings | — | 505,000 |
| Repayment of borrowings | (34,672) | (155,642) |
| Loan cost payments | (1,931) | (5,678) |
| Contributions from noncontrolling interests in consolidated JVs | — | 125 |
| Distributions paid to noncontrolling interests | (24,848) | (30,433) |
| Dividends paid to common stockholders | (95,375) | (98,215) |
| Repurchases of OP Units | (121) | (367) |
| Repurchases of common stock | — | (109,233) |
| Net cash (used in) provided by financing activities | (156,947) | 105,557 |
| Increase in cash and cash equivalents and restricted cash | 21,073 | 257,393 |
| Cash and cash equivalents and restricted cash - beginning balance | 523,183 | 268,938 |
| Cash and cash equivalents and restricted cash - ending balance | $544,256 | $526,331 |
Consolidated Statements of Cash Flows
| Reconciliation of Ending Cash Balance | ||
|---|---|---|
| September 30, 2024 | September 30, 2023 | |
| Cash and cash equivalents | $544,227 | $526,230 |
| Restricted cash (included in Other assets on our consolidated balance sheets) | 29 | 101 |
| Cash and cash equivalents and restricted cash | $544,256 | $526,331 |
Supplemental Cash Flows Information
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash paid for interest, net of capitalized interest | $160,064 | $141,081 |
| Capitalized interest paid | $6,254 | $1,296 |
| Non-cash Investing Transactions | ||
| Accrual for real estate and development capital expenditures | $16,569 | $19,261 |
| Capitalized stock-based compensation for improvements to real estate and developments | $1,976 | $2,209 |
| Removal of fully depreciated and amortized buildings, building improvements, tenant improvements and lease intangibles | $86,026 | $74,277 |
| Removal of fully amortized acquired lease intangible assets | $98 | $255 |
| Removal of fully accreted acquired lease intangible liabilities | $9,892 | $14,504 |
| Non-cash Financing Transactions | ||
| Gain recorded in AOCI - consolidated derivatives | $22,399 | $83,157 |
| Gain recorded in AOCI - unconsolidated Fund's derivatives (our share) | $4,216 | $1,185 |
| Dividends declared | $95,416 | $96,492 |
| Exchange of OP Units for common stock | $3,259 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.