hD

Cash Flow Summary

Duke Realty (DRE) trailing twelve month cash flow statement covering six trailing twelve month periods to June 30, 2022, as reported to the SEC.

  • Duke Realty generated $658.59M in cash from operations in the twelve months ended June 30, 2022, up 6.7% from $617.23M a year earlier.
  • That is 0.7 times its reported net income of $958.92M.
  • After spending $682.82M on development of real estate investments, free cash flow was -$24.23M.
  • Investing activities used $697.81M and financing activities provided $47.95M.
  • Duke Realty paid $418.23M in dividends.

A cash flow statement shows the cash that actually came in and went out, split between running the business, investing and financing.

Figures in USD thousands
Jun'22Mar'22Dec'21Sep'21Jun'21Mar'21
Cash flows from operating activities:
Net income

958,923

1,032,891

861,618

927,989

500,740

363,304

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income

958,923

1,032,891

861,618

927,989

500,740

363,304

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of buildings and tenant improvements

306,659

304,895

304,935

307,787

309,706

304,638

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Depreciation of buildings and tenant improvements

306,659

304,895

304,935

307,787

309,706

304,638

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred leasing and other costs

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred leasing and other costs

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred leasing and other costs

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred leasing and other costs

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred financing costs

9,805

9,802

9,735

9,626

9,566

9,375

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred financing costs

9,805

9,802

9,735

9,626

9,566

9,375

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Straight-line rental income and expense, net

39,392

34,315

32,081

33,190

31,886

32,183

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Straight-line rental income and expense, net

39,392

34,315

32,081

33,190

31,886

32,183

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Asset Impairment Charges

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Asset Impairment Charges

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss on debt extinguishment

-35,841

-39,779

-17,901

-17,903

-4,130

-15,164

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss on debt extinguishment

-35,841

-39,779

-17,901

-17,903

-4,130

-15,164

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on involuntary conversion

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on involuntary conversion

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on acquisitions

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on acquisitions

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on land and property sales

709,617

787,843

598,602

678,248

250,737

151,747

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on land and property sales

709,617

787,843

598,602

678,248

250,737

151,747

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Third-party construction contracts, net

3,032

6,233

6,269

7,277

382

982

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Third-party construction contracts, net

3,032

6,233

6,269

7,277

382

982

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other accrued revenues and expenses, net

-36,530

-24,175

-48,194

-38,854

-41,866

-50,722

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other accrued revenues and expenses, net

-36,530

-24,175

-48,194

-38,854

-41,866

-50,722

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating distributions received in excess of (less than) equity in earnings from unconsolidated joint ventures

-3,176

2,992

16,996

16,518

16,070

8,540

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating distributions received in excess of (less than) equity in earnings from unconsolidated joint ventures

-3,176

2,992

16,996

16,518

16,070

8,540

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by operating activities

658,588

634,618

642,426

621,606

617,228

602,028

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by operating activities

658,588

634,618

642,426

621,606

617,228

602,028

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Cash flows from investing activities:
Development of real estate investments

682,817

682,852

661,416

600,865

572,423

543,076

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Development of real estate investments

682,817

682,852

661,416

600,865

572,423

543,076

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Acquisition of buildings and related intangible assets

317,909

445,820

447,584

541,072

602,460

418,410

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Acquisition of buildings and related intangible assets

317,909

445,820

447,584

541,072

602,460

418,410

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Acquisition of land and other real estate assets

785,906

838,320

700,632

442,056

375,834

225,984

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Acquisition of land and other real estate assets

785,906

838,320

700,632

442,056

375,834

225,984

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Second generation tenant improvements, leasing costs and building improvements

68,155

68,206

68,445

63,315

61,118

51,608

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Second generation tenant improvements, leasing costs and building improvements

68,155

68,206

68,445

63,315

61,118

51,608

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other deferred leasing costs

46,444

46,487

42,214

43,867

41,353

37,273

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other deferred leasing costs

46,444

46,487

42,214

43,867

41,353

37,273

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other assets

-18,144

366

19,067

63,659

43,315

26,672

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other assets

-18,144

366

19,067

63,659

43,315

26,672

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from the repayments of notes receivable from property sales

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from the repayments of notes receivable from property sales

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from land and depreciated property sales, net

1,138,700

1,299,600

1,070,000

1,269,700

567,800

394,700

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from land and depreciated property sales, net

1,138,700

1,299,600

1,070,000

1,269,700

567,800

394,700

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital distributions from unconsolidated joint ventures

74,758

91,729

61,616

61,616

21,366

4,408

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital distributions from unconsolidated joint ventures

74,758

91,729

61,616

61,616

21,366

4,408

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital contributions and advances to unconsolidated joint ventures

26,173

33,193

22,640

20,208

10,364

3,858

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital contributions and advances to unconsolidated joint ventures

26,173

33,193

22,640

20,208

10,364

3,858

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash used for investing activities

-697,812

-725,893

-832,415

-443,832

-1,117,782

-907,820

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash used for investing activities

-697,812

-725,893

-832,415

-443,832

-1,117,782

-907,820

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Cash flows from financing activities:
Proceeds from issuance of common shares, net

335,466

416,773

406,576

379,329

298,395

212,772

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from issuance of common shares, net

335,466

416,773

406,576

379,329

298,395

212,772

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments for redemption/repurchase of preferred shares

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments for redemption/repurchase of preferred shares

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from unsecured debt

994,115

494,115

940,749

446,634

446,634

793,386

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from unsecured debt

994,115

494,115

940,749

446,634

446,634

793,386

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments on unsecured debt

583,252

670,784

390,900

390,900

127,758

270,543

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments on unsecured debt

583,252

670,784

390,900

390,900

127,758

270,543

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from secured debt financings

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from secured debt financings

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments on secured indebtedness including principal amortization

4,528

4,470

4,413

13,536

13,579

13,588

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments on secured indebtedness including principal amortization

4,528

4,470

4,413

13,536

13,579

13,588

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Repayments on line of credit, net

-265,000

260,000

-295,000

109,000

265,000

-200,000

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Repayments on line of credit, net

-265,000

260,000

-295,000

109,000

265,000

-200,000

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to common shareholders/unitholders

418,229

406,352

394,487

382,475

373,238

364,035

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to common shareholders/unitholders

418,229

406,352

394,487

382,475

373,238

364,035

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to preferred shareholders

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to preferred shareholders

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to noncontrolling Interest

-4,768

-4,346

-4,352

-4,358

-3,897

-3,656

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to noncontrolling Interest

-4,768

-4,346

-4,352

-4,358

-3,897

-3,656

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Tax payments on stock-based compensation awards

7,629

7,558

5,132

5,036

5,066

5,063

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Tax payments on stock-based compensation awards

7,629

7,558

5,132

5,036

5,066

5,063

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Change in book cash overdrafts

8,534

18,071

-12,453

9,130

20,143

1,955

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Change in book cash overdrafts

8,534

18,071

-12,453

9,130

20,143

1,955

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other Financing Activities

-39

-39

-357

-370

-396

-396

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other Financing Activities

-39

-39

-357

-370

-396

-396

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred financing costs

6,719

4,599

14,262

10,182

11,070

13,312

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred financing costs

6,719

4,599

14,262

10,182

11,070

13,312

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by financing activities

47,949

90,772

225,930

137,197

495,131

137,520

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by financing activities

47,949

90,772

225,930

137,197

495,131

137,520

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net decrease in cash, cash equivalents and restricted cash

8,725

-503

35,941

314,971

-5,423

-168,272

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net decrease in cash, cash equivalents and restricted cash

8,725

-503

35,941

314,971

-5,423

-168,272

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Noncash activities:
Lease liabilities arising from right-of-use assets

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Lease liabilities arising from right-of-use assets

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Lease liabilities arising from right-of-use assets

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Lease liabilities arising from right-of-use assets

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Assumption of indebtedness and other liabilities in real estate acquisitions

66,448

88,413

128,639

90,972

124,320

80,192

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Assumption of indebtedness and other liabilities in real estate acquisitions

66,448

88,413

128,639

90,972

124,320

80,192

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Carrying amount of pre-existing ownership interest in acquired property

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Carrying amount of pre-existing ownership interest in acquired property

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Contribution of properties to unconsolidated joint venture

142,090

142,090

74,942

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Contribution of properties to unconsolidated joint venture

142,090

142,090

74,942

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Non-cash distribution of assets from unconsolidated joint ventures, net

-

101

11,124

11,124

11,124

11,023

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Non-cash distribution of assets from unconsolidated joint ventures, net

-

101

11,124

11,124

11,124

11,023

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Notes receivable from buyers in property sales

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Notes receivable from buyers in property sales

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Conversion of Limited Partner Units to common shares

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Conversion of Limited Partner Units to common shares

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Issuance of Limited Partner Units for acquisition

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Issuance of Limited Partner Units for acquisition

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Preferred distributions declared but not paid

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Preferred distributions declared but not paid

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Duke Realty Limited Partnership [Member]
Net income

958,923

1,032,891

861,618

927,989

500,740

363,304

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net income

958,923

1,032,891

861,618

927,989

500,740

363,304

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Depreciation of buildings and tenant improvements

306,659

304,895

304,935

307,787

309,706

304,638

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Depreciation of buildings and tenant improvements

306,659

304,895

304,935

307,787

309,706

304,638

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred leasing and other costs

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred leasing and other costs

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred leasing and other costs

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred leasing and other costs

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred financing costs

9,805

9,802

9,735

9,626

9,566

9,375

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Amortization of deferred financing costs

9,805

9,802

9,735

9,626

9,566

9,375

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Straight-line rental income and expense, net

39,392

34,315

32,081

33,190

31,886

32,183

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Straight-line rental income and expense, net

39,392

34,315

32,081

33,190

31,886

32,183

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Asset Impairment Charges

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Asset Impairment Charges

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss on debt extinguishment

-35,841

-39,779

-17,901

-17,903

-4,130

-15,164

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss on debt extinguishment

-35,841

-39,779

-17,901

-17,903

-4,130

-15,164

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on involuntary conversion

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on involuntary conversion

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on land and property sales

709,617

787,843

598,602

678,248

250,737

151,747

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Gain on land and property sales

709,617

787,843

598,602

678,248

250,737

151,747

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Third-party construction contracts, net

3,032

6,233

6,269

7,277

382

982

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Third-party construction contracts, net

3,032

6,233

6,269

7,277

382

982

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other accrued revenues and expenses, net

-36,530

-24,175

-48,194

-38,854

-41,866

-50,722

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other accrued revenues and expenses, net

-36,530

-24,175

-48,194

-38,854

-41,866

-50,722

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating distributions received in excess of (less than) equity in earnings from unconsolidated joint ventures

-3,176

2,992

16,996

16,518

16,070

8,540

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Operating distributions received in excess of (less than) equity in earnings from unconsolidated joint ventures

-3,176

2,992

16,996

16,518

16,070

8,540

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by operating activities

658,588

634,618

642,426

621,606

617,228

602,028

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by operating activities

658,588

634,618

642,426

621,606

617,228

602,028

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Development of real estate investments

682,817

682,852

661,416

600,865

572,423

543,076

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Development of real estate investments

682,817

682,852

661,416

600,865

572,423

543,076

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Acquisition of buildings and related intangible assets

317,909

445,820

447,584

541,121

602,460

418,410

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Acquisition of buildings and related intangible assets

317,909

445,820

447,584

541,121

602,460

418,410

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Acquisition of land and other real estate assets

785,906

838,320

700,632

442,056

375,834

225,984

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Acquisition of land and other real estate assets

785,906

838,320

700,632

442,056

375,834

225,984

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Second generation tenant improvements, leasing costs and building improvements

68,155

68,206

68,445

63,315

61,118

51,608

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Second generation tenant improvements, leasing costs and building improvements

68,155

68,206

68,445

63,315

61,118

51,608

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other deferred leasing costs

46,444

46,487

42,214

43,867

41,353

37,273

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other deferred leasing costs

46,444

46,487

42,214

43,867

41,353

37,273

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other assets

-18,144

366

19,067

63,659

43,315

26,672

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other assets

-18,144

366

19,067

63,659

43,315

26,672

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from the repayments of notes receivable from property sales

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from the repayments of notes receivable from property sales

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from land and depreciated property sales, net

1,136,690

1,297,622

1,067,967

1,269,643

567,719

394,653

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from land and depreciated property sales, net

1,136,690

1,297,622

1,067,967

1,269,643

567,719

394,653

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital distributions from unconsolidated joint ventures

74,758

91,729

61,616

61,616

21,366

4,408

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital distributions from unconsolidated joint ventures

74,758

91,729

61,616

61,616

21,366

4,408

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital contributions and advances to unconsolidated joint ventures

26,173

33,193

22,640

20,208

10,364

3,858

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital contributions and advances to unconsolidated joint ventures

26,173

33,193

22,640

20,208

10,364

3,858

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash used for investing activities

-697,812

-725,893

-832,415

-443,832

-1,117,782

-907,820

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash used for investing activities

-697,812

-725,893

-832,415

-443,832

-1,117,782

-907,820

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Contributions from the General Partner

335,466

416,773

406,576

379,329

298,395

212,772

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Contributions from the General Partner

335,466

416,773

406,576

379,329

298,395

212,772

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from unsecured debt

994,115

494,115

940,749

446,634

446,634

793,386

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from unsecured debt

994,115

494,115

940,749

446,634

446,634

793,386

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments on unsecured debt

583,252

670,784

390,900

390,900

127,758

270,543

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments on unsecured debt

583,252

670,784

390,900

390,900

127,758

270,543

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from secured debt financings

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Proceeds from secured debt financings

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments on secured indebtedness including principal amortization

4,528

4,470

4,413

13,536

13,579

13,588

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payments on secured indebtedness including principal amortization

4,528

4,470

4,413

13,536

13,579

13,588

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Repayments on line of credit, net

-265,000

260,000

-295,000

109,000

265,000

-200,000

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Repayments on line of credit, net

-265,000

260,000

-295,000

109,000

265,000

-200,000

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to common shareholders/unitholders

422,412

410,408

398,399

386,183

376,770

367,391

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to common shareholders/unitholders

422,412

410,408

398,399

386,183

376,770

367,391

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to noncontrolling Interest

-585

-290

-440

-650

-365

-300

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions to noncontrolling Interest

-585

-290

-440

-650

-365

-300

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Tax payments on stock-based compensation awards

7,629

7,558

5,132

5,036

5,066

5,063

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Tax payments on stock-based compensation awards

7,629

7,558

5,132

5,036

5,066

5,063

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Change in book cash overdrafts

8,534

18,071

-12,453

9,130

20,143

1,955

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Change in book cash overdrafts

8,534

18,071

-12,453

9,130

20,143

1,955

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other Financing Activities

-39

-39

-357

-370

-396

-396

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other Financing Activities

-39

-39

-357

-370

-396

-396

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred financing costs

6,719

4,599

14,262

10,182

11,070

13,312

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Deferred financing costs

6,719

4,599

14,262

10,182

11,070

13,312

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by financing activities

47,949

90,772

225,930

137,197

495,131

137,520

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net cash provided by financing activities

47,949

90,772

225,930

137,197

495,131

137,520

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net decrease in cash, cash equivalents and restricted cash

8,725

-503

35,941

314,971

-5,423

-168,272

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net decrease in cash, cash equivalents and restricted cash

8,725

-503

35,941

314,971

-5,423

-168,272

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Lease liabilities arising from right-of-use assets

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Lease liabilities arising from right-of-use assets

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Lease liabilities arising from right-of-use assets

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Lease liabilities arising from right-of-use assets

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Assumption of indebtedness and other liabilities in real estate acquisitions

66,448

88,413

128,639

90,972

124,320

80,192

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Assumption of indebtedness and other liabilities in real estate acquisitions

66,448

88,413

128,639

90,972

124,320

80,192

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Contribution of properties to unconsolidated joint venture

142,090

142,090

74,942

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Contribution of properties to unconsolidated joint venture

142,090

142,090

74,942

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Non-cash distribution of assets from unconsolidated joint ventures, net

-

101

11,124

11,124

11,124

11,023

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Non-cash distribution of assets from unconsolidated joint ventures, net

-

101

11,124

11,124

11,124

11,023

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Conversion of Limited Partner Units to common shares

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Conversion of Limited Partner Units to common shares

-

-

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx