Douglas Emmett Inc

For the period ended Mar 31, 2025. Filed May 9, 2025.

About 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.

Mar 31, 2025 · Filed May 9, 2025

DEI$10.00-3.7%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows

	Three Months Ended March 31,
	2025	2024
Operating Activities
Net income	$44,579	$6,131
Adjustments to reconcile net income to net cash provided by operating activities:
Loss from unconsolidated Fund	—	26
Gain from consolidation of JV	(47,212)	—
Depreciation and amortization	97,840	95,769
Net accretion of acquired lease intangibles	(1,463)	(2,343)
Straight-line rent	(1,835)	202
Loan premium/discount amortized/accreted and written off	83	(115)
Deferred loan costs amortized and written off	2,457	2,209
Amortization of stock-based compensation	2,730	2,863
Operating distributions from unconsolidated Fund	—	248
Change in working capital components:
Tenant receivables	472	313
Interest payable, accounts payable and deferred revenue	31,574	26,945
Security deposits	267	470
Other assets	3,144	6,306
Net cash provided by operating activities	132,636	139,024
Investing Activities
Capital expenditures for improvements to real estate	(42,311)	(48,127)
Capital expenditures for developments	(17,510)	(9,678)
Insurance recoveries for damage to real estate	284	475
Cash and cash equivalents assumed from consolidation of JV	25,589	—
Acquisition of additional interest in unconsolidated Fund	—	(5,214)
Capital distributions from unconsolidated Fund	—	96
Net cash used in investing activities	(33,948)	(62,448)
Financing Activities
Proceeds from borrowings	127,200	—
Repayment of borrowings	(102,632)	(222)
Loan cost payments	(3,219)	(526)
Distributions paid to noncontrolling interests	(7,103)	(10,457)
Dividends paid to common stockholders	(31,813)	(31,770)
Repurchases of OP Units	(48)	(6)
Net cash used in financing activities	(17,615)	(42,981)
Increase in cash and cash equivalents and restricted cash	81,073	33,595
Cash and cash equivalents and restricted cash - beginning balance	444,652	523,183
Cash and cash equivalents and restricted cash - ending balance	$525,725	$556,778
Statement continues on the next page.

Consolidated Statements of Cash Flows

Reconciliation of Ending Cash Balance
	March 31, 2025	March 31, 2024
Cash and cash equivalents	$525,696	$556,677
Restricted cash (included in Other assets on our consolidated balance sheets)	29	101
Cash and cash equivalents and restricted cash	$525,725	$556,778

Supplemental Cash Flows Information

	Three Months Ended March 31,
	2025	2024
Cash paid for interest, net of capitalized interest	$57,814	$53,247
Capitalized interest paid	$2,474	$1,824
Non-cash Investing Transactions
Accrual for real estate and development capital expenditures	$20,347	$11,716
Capitalized stock-based compensation for improvements to real estate and developments	$655	$642
Removal of fully depreciated and amortized buildings, building improvements, tenant improvements and lease intangibles	$21,700	$24,878
Removal of fully amortized acquired lease intangible assets	$237	$81
Removal of fully accreted acquired lease intangible liabilities	$1,822	$1,863
Non-cash Financing Transactions
(Loss) gain recorded in AOCI - consolidated derivatives	$(6,778)	$38,842
Gain recorded in AOCI - unconsolidated Fund's derivatives (our share)	$—	$5,047
Dividends declared	$31,815	$31,812
Exchange of OP Units for common stock	$159	$2,545

ContentsView on SEC.gov

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