Alexandria Real Estate Equities, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-1.43B | $322.9M | $103.6M | $521.7M | $571.2M | $771.0M | $363.2M | $379.3M |
| Depreciation & Amortization | $1.35B | $1.20B | $1.09B | $1.00B | $821.1M | $698.1M | $544.6M | $477.7M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $41.1M | $59.6M | $82.9M | $57.7M | $48.7M | $43.5M | $43.6M | $35.0M |
| Net Cash from Operating Activities | $1.41B | $1.50B | $1.63B | $1.29B | $1.01B | $882.5M | $683.9M | $570.3M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $362.1M | $-1.51B | $-2.50B | $-5.08B | $-7.11B | $-3.28B | $-3.64B | $-2.16B |
| Financing Activities | ||||||||
| Dividends Paid | $911.5M | $898.6M | $847.5M | $757.7M | $656.0M | $533.0M | $451.2M | $385.8M |
| Stock Repurchases | $208.2M | $50.1M | $0 | $0 | — | — | — | — |
| Net Cash from Financing Activities | $-1.78B | $-93.3M | $674.2M | $4.23B | $5.92B | $2.75B | $2.93B | $1.59B |
| Net Change in Cash | $-6.1M | $-100.9M | $-197.2M | $442.7M | $-182.5M | $355.0M | $-29.4M | $-5.1M |
| Free Cash Flow | — | — | — | — | — | — | — | — |