Alexandria real estate equities, inc. (ARE)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08
Operating Activities
Net income (loss)

404,047

402,793

194,204

-49,799

146,114

106,778

140,249

105,528

135,393

139,022

141,648

120,097

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

544,612

477,661

416,783

313,390

261,289

224,096

190,778

192,005

158,026

126,640

118,508

108,743

Impairment of real estate

12,334

6,311

203

209,261

23,250

51,675

0

13,450

994

-

-

-

Impairment of land parcel

-

-

-

-

-

-

-

-

0

-

-

-

Loss on early extinguishment of debt

-47,570

-1,122

-3,451

-3,230

-189

-525

-1,992

-2,225

-6,485

-45,168

11,254

-

Gain on sale of real estate - rental properties

474

8,704

270

3,715

12,426

1,838

-121

1,564

0

24

-

-

Gain on sales of real estate - land parcels

0

0

111

90

0

6,403

4,824

1,864

46

59,442

-

-

Income (Loss) from Equity Method Investments

10,136

43,981

15,426

-184

1,651

554

0

0

-

48

39

-173

Distributions of earnings from unconsolidated real estate joint ventures

2,796

430

1,618

406

873

549

0

0

-

-

-

-

Amortization of loan fees

9,105

10,271

11,149

11,872

11,003

10,909

9,936

9,832

9,300

7,892

7,958

6,774

Amortization of debt discounts (premiums)

-3,777

-2,406

-2,512

-500

-372

117

529

511

3,819

9,999

10,788

7,973

Amortization of acquired below-market leases

-29,813

-21,938

-19,055

-5,723

-6,118

-2,845

-3,316

-3,200

9,332

7,868

9,448

9,509

Deferred rent

104,235

93,883

107,643

51,673

47,483

44,726

27,935

28,456

26,797

22,832

14,379

12,273

Stock compensation expense

43,640

35,019

25,610

25,433

17,512

13,996

15,552

14,160

11,755

10,816

14,051

13,677

Distribution from unconsolidated joint venture

-

-

-

-

-

-

-

22,250

0

-

-

-

Investment income

194,647

136,763

1,329

17,133

-

-

-

-

-

-

-

-

Gain on sales of real estate

-

-

-

-

-

-

-

-

-

-

2,627

15,751

Investment gains

-

-

-

-

35,035

11,613

7,050

15,018

4,846

2,302

3,442

8,841

Investment losses

-

-

-

-

16,093

9,287

1,480

2,637

1,795

303

1,342

663

Investment impairment

-

-

-

-

-

-

-

-

-

-

-

13,251

Changes in operating assets and liabilities:
Restricted cash

-

-

-

-

-60

-4,141

-899

261

465

-1,679

1,733

-5,644

Tenant receivables

897

-435

502

285

-7

673

1,519

981

2,359

1,301

-2,551

-306

Deferred leasing costs

54,455

57,088

62,639

35,273

65,415

38,282

54,825

45,099

56,226

27,577

36,831

-

Other assets

20,825

20,849

18,222

11,420

9,079

7,466

6,298

4,069

22,359

1,839

-14,717

20,479

Accounts payable, accrued expenses, and tenant security deposits

39,012

21,909

25,573

5,322

43,800

26,652

56,958

65,697

41,823

8,720

-24,856

46,752

Net cash provided by operating activities

683,857

570,339

450,882

393,487

342,611

334,325

312,727

305,533

246,960

227,006

206,954

257,200

Investing Activities
Proceeds from sales of real estate

6,619

20,190

15,432

123,081

129,799

81,580

153,968

36,179

20,078

275,979

-

-

Distributions from unconsolidated real estate entity related to sale of land parcel

-

-

-

-

-

-

-

-

-

-154

18,021

80,909

Additions to real estate

1,224,541

927,168

893,685

821,690

564,206

497,773

593,389

549,030

430,038

423,930

443,085

542,460

Payments to Acquire Real Estate

2,259,778

1,037,180

675,584

739,678

248,933

127,887

122,069

42,171

305,030

301,709

-

7,915

Deposits for investing activities

18,107

2,000

2,300

450

5,501

10,282

0

0

-

-

-

-

Acquisition of interest in unconsolidated joint venture

0

35,922

60,291

0

0

-

-

-

-

-

-

-

Change in restricted cash related to construction projects

-

-

-

-

-

-1,665

-7,655

9,377

2,183

-18,178

-25,760

25,772

Investments in unconsolidated real estate joint ventures

102,081

116,008

17,876

11,529

9,027

70,758

17,987

6,700

5,256

3,016

-

-

Return of capital from unconsolidated real estate joint ventures

14

68,592

38,576

0

0

-

-

-

-

-

-

-

Transfer of cash to unconsolidated real estate entity upon deconsolidation

-

-

-

-

-

-

-

-

-

154

-

-

Additions to investments

190,778

235,943

171,881

102,284

95,945

60,230

36,078

36,294

27,999

14,807

12,895

13,006

Sales of non-real estate investments

147,332

103,679

30,483

38,946

67,136

18,973

16,525

27,043

16,849

4,714

5,633

13,311

Proceeds from repayment of notes receivable

-

-

-

15,198

4,282

29,883

0

0

-

-

-

-

Net cash used in investing activities

-3,641,320

-2,161,760

-1,737,126

-1,498,406

-722,395

-634,829

-591,375

-558,100

-733,579

-444,745

-406,566

-494,933

Financing Activities
Borrowings from secured notes payable

0

17,784

153,405

291,400

169,754

126,215

28,489

17,810

0

-

121,960

13,007

Repayments of borrowings from secured notes payable

306,199

156,888

396,240

310,903

89,815

231,051

36,219

26,367

66,849

129,938

266,875

143,477

Proceeds from issuance of unsecured senior notes payable

2,721,169

899,321

1,023,262

348,604

298,872

698,908

498,561

544,650

1,350,000

-

-

-

Repayments of unsecured senior notes payable

950,000

0

0

-

-

-

-

-

-

-

-

-

Proceeds from issuance of unsecured senior notes payable

-

-

-

-

-

-

-

-

0

-

-

-

Borrowings from unsecured senior line of credit

5,056,000

4,741,000

3,858,000

4,117,000

2,145,000

1,168,000

729,000

847,147

1,406,000

854,000

-696,000

-1,086,000

Proceeds from issuance of unsecured convertible notes

-

-

-

-

-

-

-

-

-

-

232,950

-

Repayments of borrowings from unsecured senior line of credit

4,880,000

4,583,000

3,836,000

4,240,000

2,298,000

1,068,000

1,091,000

651,147

1,784,000

582,000

895,000

776,000

Proceeds from Issuance of Commercial Paper

2,233,000

0

0

-

-

-

-

-

-

-

-

-

Repayments of borrowings from commercial paper program

2,233,000

0

0

-

-

-

-

-

-

-

-

-

Repayment of unsecured senior bank term loan

350,000

200,000

200,000

200,000

25,000

125,000

250,000

250,000

500,000

-

-

-

Premium paid for early extinguishment of debt

41,351

0

-

-

-

-

-

-

-

-

-

-

Redemption of Series C Cumulative Redeemable Preferred Stock

-

-

-

-

-

-

-

-

0

-

-

-

Proceeds from issuance of Series E Cumulative Redeemable Preferred Stock

-

-

-

-

-

-

-

124,868

0

-

-

-

Change in restricted cash related to financings

-

-

-

-

3,842

-1,409

2,546

-7,428

7,311

-1,853

-3,222

4,257

Payments of loan fees

27,182

19,292

10,019

16,681

10,584

8,099

19,928

13,225

27,316

5,273

5,085

1,363

Taxes paid related to net settlement of equity awards

25,477

0

0

-

-

-

-

-

-

-

-

-

Repurchase of Series D preferred stock

9,240

13,976

17,934

206,826

0

-

-

0

-

-

-

-

Payment on exchange of 8.00% Unsecured Senior Convertible Notes

-

-

-

-

-

-

-

-

-

-43,528

-

-

Repurchase of unsecured senior convertible notes

-

-

-

-

-

-

384

84,801

221,439

97,309

59,204

-

Redemption of 6.45% Series E redeemable preferred stock

0

0

130,350

0

0

14,414

0

129,638

-

-

-

-

Proceeds from issuance of common stock

1,216,445

1,293,301

1,275,397

1,432,177

78,463

0

534,469

97,890

451,539

342,342

488,163

-

Proceeds from issuance of series D convertible preferred stock

-

-

-

-

-

-

-

-

-

-

-

242,186

Proceeds from exercise of stock options

-

-

-

-

-

-

-

155

2,117

2,877

3,017

2,509

Dividends on common stock

447,029

380,632

312,131

240,347

218,104

202,386

169,076

126,498

106,889

67,874

86,652

101,393

Dividends on preferred stock

4,141

5,207

9,619

22,414

24,986

25,885

25,885

27,819

28,357

28,357

28,357

20,578

Financing costs paid for sales of noncontrolling interests

-

-

-

-10,044

0

0

-

-

-

-

-

-

Distributions to redeemable noncontrolling interests

-

-

-

-

-

-

-

1,249

1,263

1,331

1,393

1,480

Contributions from and sales of noncontrolling interests

1,022,712

28,275

44,931

221,487

453,750

19,410

0

1,875

1,000

723

300

1,106

Proceeds from Contributions from Affiliates

-

-

-

-

-

-

-

-

9

674

5,255

-

Distributions to and redemption of noncontrolling interests

48,225

32,253

22,361

69,678

64,066

4,977

3,003

913

2,707

2,895

2,450

2,628

Net cash provided by financing activities

2,927,482

1,588,433

1,420,341

1,093,775

419,126

331,312

197,570

314,860

479,156

237,912

198,355

300,864

Effect of foreign exchange rate changes on cash and cash equivalents

540

-2,068

1,723

-1,460

-255

-2,493

-2,197

139

-5,230

431

724

-

Net increase (decrease) in cash, cash equivalents, and restricted cash

-29,441

-5,056

135,820

-12,604

39,087

28,315

-83,275

62,432

-12,693

20,604

-533

63,131

Supplemental Disclosures and Non-Cash Investing and Financing Activities:
Cash paid during the period for interest, net of interest capitalized

146,165

127,093

112,113

84,907

93,856

57,966

59,857

52,561

52,324

57,198

63,247

73,910

Supplemental Disclosure and Non-Cash Investing and Financing Activities:
Note receivable issued in connection with sale of real estate

-

-

-

-

-

2,000

38,820

6,125

0

-

-

-

Change in accrued construction

220,773

244,147

179,154

76,848

-10,070

29,846

-21,310

46,087

3,492

-3,391

-

-

Write-off of fully amortized improvements

-

-

-

-

-

-

-

17,730

0

-

-

-

Assumption of secured notes payable in connection with purchase of properties

28,200

0

0

203,000

82,000

48,329

0

0

-

-

-

-

Right-of-use asset

269,189

0

0

-

-

-

-

-

-

-

-

-

Lease liability

275,175

0

0

-

-

-

-

-

-

-

-

-

Payable for purchase of real estate

0

65,000

0

56,800

0

0

-

-

-

-

-

-

Distribution of real estate in connection with purchase of remaining interest in real estate joint venture

-

-

-

25,546

0

0

-

-

-

-

-

-

Contribution of real estate to an unconsolidated real estate joint venture

0

0

6,998

0

0

-

-

-

-

-

-

-

Consolidation of previously unconsolidated real estate joint venture

-

-

-

87,930

0

0

-

-

-

-

-

-

Contribution of real estate from noncontrolling interests

115,167

0

8,597

0

0

-

-

-

-

-

-

-

Issuance of common stock for conversion of 7.00% Series D preferred stock

57,461

0

0

-

-

-

-

-

-

-

-

-

Redemption of redeemable noncontrolling interests

-

-

-

5,000

0

0

-

450

0

2,346

1,052

1,282

Contribution from redeemable noncontrolling interest

-

-

-

2,264

0

0

-

-

-

-

-

-

Payable for purchase of noncontrolling interests

-

-

-

-

51,092

0

0

-

-

-

-

-