Alexandria Real Estate Equities, Inc.
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-72.8M | $361.7M | $-1.08B | $-232.8M | $-107.0M | $-8.9M | $-62.2M | $167.9M |
| Depreciation & Amortization | $304.4M | $305.4M | $322.1M | $340.2M | $346.1M | $342.1M | $330.1M | $294.0M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $10.1M | $11.0M | $8.2M | $10.3M | $12.5M | $10.1M | $12.5M | $15.5M |
| Net Cash from Operating Activities | $337.0M | $196.6M | $312.4M | $433.5M | $460.2M | $207.9M | $274.2M | $477.4M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-409.7M | $-584.8M | $1.80B | $-407.9M | $-374.9M | $-654.8M | $446.3M | $-488.5M |
| Financing Activities | ||||||||
| Dividends Paid | $123.8M | $123.8M | $227.0M | $227.2M | $227.2M | $230.0M | $227.2M | $227.4M |
| Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $208.2M | $50.1M | $0 |
| Net Cash from Financing Activities | $125.0M | $258.0M | $-2.14B | $30.8M | $-40.7M | $370.8M | $-738.7M | $24.9M |
| Net Change in Cash | $51.8M | $-130.4M | $-30.4M | $56.2M | $44.2M | $-76.1M | $-19.8M | $13.8M |
| Free Cash Flow | — | — | — | — | — | — | — | — |