Douglas Emmett Inc
For the period ended Dec 31, 2024. Filed Feb 14, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 14, 2025
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
Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating Activities | |||
| Net income (loss) | $7,588 | $(75,840) | $96,540 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| (Income) loss from unconsolidated Fund | (2,593) | 34,643 | (1,224) |
| Depreciation and amortization | 384,048 | 459,949 | 372,798 |
| Net accretion of acquired lease intangibles | (8,023) | (10,961) | (11,255) |
| Straight-line rent | (2,248) | (342) | 169 |
| Loan premium amortized and written off | (333) | (460) | (460) |
| Deferred loan costs amortized and written off | 9,335 | 8,858 | 7,943 |
| Amortization of stock-based compensation | 21,038 | 19,834 | 21,025 |
| Operating distributions from unconsolidated Fund | 1,224 | 1,288 | 1,224 |
| Purchase of interest rate caps | — | (1,622) | — |
| Change in working capital components: | |||
| Tenant receivables | 1,854 | 783 | 6,248 |
| Interest payable, accounts payable and deferred revenue | (4) | 6,248 | (1,399) |
| Security deposits | 491 | 529 | 4,832 |
| Other assets | (3,684) | (15,943) | 447 |
| Net cash provided by operating activities | 408,693 | 426,964 | 496,888 |
| Investing Activities | |||
| Capital expenditures for improvements to real estate | (167,337) | (189,157) | (162,364) |
| Capital expenditures for developments and purchase of note receivable secured by real estate | (72,052) | (41,480) | (75,754) |
| Insurance recoveries for damage to real estate | 3,573 | 2,181 | 5,716 |
| Property acquisition | — | — | (330,470) |
| Acquisition of additional interest in unconsolidated Fund | (5,214) | (5,214) | — |
| Capital distributions from unconsolidated Fund | 269 | 80 | 1,919 |
| Net cash used in investing activities | (240,761) | (233,590) | (560,953) |
| Financing Activities | |||
| Proceeds from borrowings | 325,000 | 505,000 | 245,000 |
| Repayment of borrowings | (434,902) | (155,862) | (70,823) |
| Loan cost payments | (5,648) | (6,269) | (2,032) |
| Purchase of interest rate caps | — | — | (481) |
| Proceeds from sale of interest rate cap | — | — | 444 |
| Contributions from noncontrolling interests in consolidated JVs | 28,000 | 125 | 81,000 |
| Distributions paid to noncontrolling interests | (31,590) | (40,589) | (58,969) |
| Dividends paid to common stockholders | (127,185) | (129,895) | (196,805) |
| Repurchases of OP Units | (138) | (2,406) | (337) |
| Repurchases of common stock | — | (109,233) | — |
| Net cash (used in) provided by financing activities | (246,463) | 60,871 | (3,003) |
| (Decrease) increase in cash and cash equivalents and restricted cash | (78,531) | 254,245 | (67,068) |
| Cash and cash equivalents and restricted cash - beginning balance | 523,183 | 268,938 | 336,006 |
| Cash and cash equivalents and restricted cash - ending balance | $444,652 | $523,183 | $268,938 |
| Reconciliation of Ending Cash Balance | |||
| Year Ended December 31, | |||
| 2024 | 2023 | 2022 | |
| Cash and cash equivalents | $444,623 | $523,082 | $268,837 |
| Restricted cash (included in Other assets on our consolidated balance sheets) | 29 | 101 | 101 |
| Cash and cash equivalents and restricted cash | $444,652 | $523,183 | $268,938 |
Supplemental Cash Flows Information
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash paid for interest, net of capitalized interest | $219,503 | $195,952 | $141,427 |
| Capitalized interest paid | $8,724 | $1,474 | $9,101 |
| Non-cash Investing Transactions | |||
| Accrual for real estate and development capital expenditures | $15,831 | $16,540 | $33,783 |
| Capitalized stock-based compensation for improvements to real estate and developments | $6,139 | $6,016 | $5,479 |
| Removal of fully depreciated and amortized buildings, building improvements, tenant improvements and lease intangibles | $114,158 | $102,114 | $100,050 |
| Removal of fully amortized acquired lease intangible assets | $203 | $427 | $1,438 |
| Removal of fully accreted acquired lease intangible liabilities | $13,304 | $16,843 | $11,900 |
| Non-cash Financing Transactions | |||
| Gain recorded in AOCI - consolidated derivatives | $47,896 | $45,364 | $326,396 |
| Gain recorded in AOCI - unconsolidated Fund's derivatives (our share) | $5,417 | $585 | $3,780 |
| Dividends declared | $127,229 | $128,262 | $181,061 |
| Exchange of OP Units for common stock | $3,503 | $7,741 | $4,600 |
| Seller financing of note receivable purchase | $61,750 | $— | $— |
F- 10
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.