Adjustments for Non-Cash Items [USD, Thousands]

Stock-Based Compensation [USD, Thousands]

Changes in Working Capital [USD, Thousands]

Capital Expenditures (CapEx) [USD, Thousands]

Proceeds from / Repayments of Debt [USD, Thousands]

Share Repurchases [USD, Thousands]

Dividend Payments [USD, Thousands]

Net Change in Cash [USD, Thousands]

91363310241b8c529dc3e2235e15c9d6333fc10cfda058a75a7f3035fa50035d

Occupancy rate for operating properties in North America (percentage)

Same property net operating income growth (percentage)

Same property net operating income growth (cash basis) (percentage)

Rental rate changes on lease renewals and re-leasing of space (percentage)

Rental rate changes on lease renewals and re-leasing of space (cash basis) (percentage)

Tenant rents and receivables collected (percentage)

Weighted-average remaining lease term for top 20 tenants (years)

Weighted-average remaining lease term for all tenants (years)

Net debt and preferred stock to Adjusted EBITDA (quarter annualized) (times)

Net debt and preferred stock to Adjusted EBITDA (trailing 12 months) (times)

Fixed-charge coverage ratio (quarter annualized) (times)

Fixed-charge coverage ratio (trailing 12 months) (times)

4b1acd16dfc991dbdd1ecaf4f0fa3702480197f2574229bf2466ee93079e4ffd

d2f987be8258c65b90ef0e3c6faf19b4d0f78d1a24ccb550bd3c0892985db804

Income from Rentals

- Same Properties

- Non-Same Properties

- Operating Leases

- Direct Financing Leases

Tenant Recoveries

Other Income

Revenues Subject to Lease

Revenues Subject to Revenue

Parking and Other Revenues

Total Revenue

b47fae66f1439d98f7d9f3ca32b23667aad618d5725eb8d37b52bbe36f5b5cc3

Greater Boston

San Francisco Bay Area

New York City

San Diego

Seattle

Maryland

Research Triangle

Texas

Canada

Non-cluster/other markets

Properties held for sale

23305e6eb7e3bc905ac22e681ced6120109285519b9c8e927e8fd76c4ede39b0

Total Revenue [USD, Thousands]

Cost of Goods Sold (COGS) [USD, Thousands]

SG&A [USD, Thousands]

R&D [USD, Thousands]

D&A [USD, Thousands]

Interest Expense [USD, Thousands]

Operating Income (EBIT) [USD, Thousands]

Net Income [USD, Thousands]

EPS - Basic [USD]

EPS - Diluted [USD]

a2bce661bda5a3e880e1172af668c03bfb9e6a0118b3a441efd48d31922158e9

Total Assets (USD, thousands)

Total Liabilities (USD, thousands)

Total Equity (USD, thousands)

Investments in Real Estate (USD, thousands)

Cash and Cash Equivalents (USD, thousands)

Accounts Payable, Accrued Expenses, and Other Liabilities (USD, thousands)

48922058340fe1d3c75ff2ac2838136b5df043cfbe4dd17e2ed89df80f8f3075

In Q1 2024, the lower cash and cash equivalents balance was primarily driven by **substantial cash used in investing activities totaling $894,854 thousand**, which was largely due to expenditures for real estate acquisitions and development.  **[0001035443-24-000158_are-20240331.htm:95]**  Although the company experienced **net cash inflows from financing activities of $624,429 thousand** and **positive operating cash flows of $341,157 thousand**, these amounts were not enough to completely offset the heavy cash outflows from investing.  **[0001035443-24-000159_a1q24ex991supp.htm:16]** **[0001035443-24-000158_are-20240331.htm:33]** **[0001035443-24-000158_are-20240331.htm:5]** **[0001035443-24-000158_are-20240331.htm:95]** 

Why was Cash and Cash Equivalents so low in Q1 2024?

The high Total Assets in Q3 2024 were driven primarily by increased **investments in real estate**, which rose from **$31,633,511** to **$32,951,777**, and by a rise in **other assets** from **$1,421,894** to **$1,657,189**. These increases, reflecting additional development, redevelopment projects, acquisitions, and components such as acquired in-place leases, deferred compensation plans, and operating lease right-of-use assets, collectively pushed the total assets higher, despite a slight decrease in cash and cash equivalents from **$618,190** to **$562,606**.  **[0001035443-24-000299_a3q24ex991supp.htm:22]** **[0001035443-24-000298_are-20240930.htm:28]** 

What contributed to the high Total Assets in Q3 2024?

The increase in Total Debt during Q4 2024 was driven by several factors. **ARE issued additional unsecured senior notes**—for example, a **$1,000,000 thousand** note and a **$500,000 thousand** note were added—which directly contributed to higher debt levels.  **[0001035443-25-000068_a4q24ex991supp.htm:75]**  Additionally, **refinancing activities** and the **replacement of maturing debt** played a role, alongside funding capital needs for development projects and acquisitions.  **[0001035443-25-000067_are-20241231.htm:128]**  Furthermore, the **weighted-average remaining term of the debt increased to 12.7 years**, highlighting a shift toward long-term financing strategies, and the company had **no outstanding balance on its unsecured senior line of credit**, reinforcing its reliance on long-term debt instruments.  **[0001035443-25-000068_a4q24ex991supp.htm:72]** 

What factors drove up Total Debt in Q4 2024?

ea51e0a2334a45f82591d20980d92841a96ac27e1502fa775911fd70bc4a93e5

Consolidated Revenues (USD, thousands)

Income from Rentals (USD, thousands)

Other Income (USD, thousands)

Reportable Segment Total Revenues (USD, thousands)

All Other Revenues (USD, thousands)

Consolidated Rental Operations (USD, thousands)

Rental Operations Expense (USD, thousands)

Reportable Segment Total Rental Operating Expenses (USD, thousands)

All Other Rental Operating Expenses (USD, thousands)

General and Administrative Expense (USD, thousands)

Interest Expense (USD, thousands)

Depreciation and Amortization Expense (USD, thousands)

Impairment of Real Estate (USD, thousands)

Loss on Early Extinguishment of Debt (USD, thousands)

Equity in Earnings of Unconsolidated Real Estate Joint Ventures (USD, thousands)

Investment Loss (USD, thousands)

Investment Income (Loss) (USD, thousands)

Gain on Sale of Real Estate (USD, thousands)

Consolidated Net Income (USD, thousands)

Net Income (USD, thousands)

Net Income Attributable to Noncontrolling Interests (USD, thousands)

Net Income Attributable to Unvested RSAs with Nonforfeitable Rights to Dividends (USD, thousands)

Numerator for Basic and Diluted EPS - Net Income Attributable to Alexandria Real Estate Equities, Inc.’s Common Stockholders (USD, thousands)

Net Income Attributable to Alexandria Real Estate Equities, Inc.’s Common Stockholders (USD, thousands)

fd5947eea0e2cb86dcf4e950bc6692e66ed68b15904c137ec9c1b36d555898cd

b2a45765da470fbd062afde0b09cbc2299d85dcc6c6b1b68e17f62b4020cb505

Net cash provided by operating activities (USD, thousands)

Net cash used in investing activities (USD, thousands)

Net cash provided by financing activities (USD, thousands)

e0b79a6aa4cacfbf4fa601b3164c1c4e72cc085ebcf4acc02f4272f5efb12a51

Alexandria Real Estate Equities Inc (ARE)

Financials