| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 398,377 | -995,354 | -197,845 | -62,189 |
| Depreciation and amortization | 305,441 | 322,063 | 340,230 | 346,123 |
| Impairment of real estate | 5,499 | 1,717,188 | 323,870 | 129,606 |
| Gain on sales of real estate | 0 | 619,914 | 9,366 | 0 |
| Gain on early extinguishment of debt | 366,435 | 0 | -107 | NaN |
| Equity in losses of unconsolidated real estate joint ventures | -147 | -304 | 201 | -9,021 |
| Distributions of earnings from unconsolidated real estate joint ventures | 233 | 430 | 460 | 1,117 |
| Amortization of loan fees | 4,428 | 4,481 | 4,505 | 4,615 |
| Amortization of debt discounts | 320 | 327 | 325 | 335 |
| Amortization of acquired above- and below-market leases | -5,615 | -5,889 | -6,456 | -10,196 |
| Deferred rent | 17,862 | 14,096 | 18,821 | 18,536 |
| Stock compensation expense | 11,032 | 8,232 | 10,293 | 12,530 |
| Investment loss | -4,582 | -3,890 | 28,161 | -30,622 |
| Tenant receivables | 693 | 264 | 156 | -635 |
| Deferred leasing costs | 20,121 | 58,936 | 20,532 | 17,082 |
| Other assets | 35,274 | 18,930 | 26,897 | -26,284 |
| Accounts payable, accrued expenses, and other liabilities | -87,435 | -31,154 | 62,123 | 7,356 |
| Net cash provided by operating activities | 196,624 | 312,378 | 433,478 | 460,241 |
| Proceeds from sales of real estate | 0 | 2,093,770 | 78,078 | 80,845 |
| Additions to real estate | 545,999 | 332,311 | 457,607 | 435,165 |
| Purchases of real estate | NaN | 0 | 0 | 0 |
| Change in escrow deposits | 0 | 0 | -744 | -1,398 |
| Investments in unconsolidated real estate joint ventures | 297 | 57 | 184 | 61 |
| Return of capital from unconsolidated real estate joint ventures | 113 | 108 | 458 | NaN |
| Additions to non-real estate investments | 73,627 | 53,811 | 64,307 | 51,334 |
| Sales of and distributions from non-real estate investments | 35,000 | 91,936 | 34,933 | 29,443 |
| Net cash used in investing activities | -584,810 | 1,799,635 | -407,885 | -374,874 |
| Borrowings under secured note payable | 0 | 0 | 2 | 3,205 |
| Repayments of borrowings under secured notes payable | 8,892 | 0 | 154,212 | NaN |
| Proceeds from issuance of unsecured senior notes payable | 747,592 | 0 | 0 | 0 |
| Repayment of unsecured senior notes payable | 1,252,203 | 0 | 0 | 600,000 |
| Borrowings under unsecured senior line of credit | NaN | 700,000 | NaN | NaN |
| Repayments of borrowings under unsecured senior line of credit | NaN | 700,000 | NaN | NaN |
| Proceeds from issuances under commercial paper program | 12,319,811 | 10,048,360 | 6,910,000 | 5,768,015 |
| Repayments of borrowings under commercial paper program | 11,318,040 | 11,244,860 | 6,460,000 | 4,968,015 |
| Payments of loan fees | 8,814 | 0 | -99 | 0 |
| Taxes paid related to net settlement of equity awards | 5,946 | 7,202 | 10,936 | 713 |
| Proceeds from issuance of common stock | NaN | 0 | NaN | NaN |
| Repurchase of common stock | 0 | 0 | 0 | 0 |
| Dividends on common stock | 123,752 | 227,031 | 227,202 | 227,230 |
| Contributions from and sales of noncontrolling interests | 18,065 | 33,326 | 36,107 | 41,646 |
| Distributions to noncontrolling interests | 60,111 | 747,237 | 63,107 | 57,584 |
| Purchases and redemptions of noncontrolling interests | 49,707 | NaN | NaN | NaN |
| Net cash provided by financing activities | 258,003 | -2,144,644 | 30,751 | -40,676 |
| Effect of foreign exchange rate changes on cash and cash equivalents | -187 | 2,207 | -113 | -497 |
| Net decrease in cash, cash equivalents, and restricted cash | -130,370 | -30,424 | 56,231 | 44,194 |
| Cash, cash equivalents, and restricted cash as of the beginning of period | 553,755 | 584,179 | 527,948 | 483,754 |
| Cash, cash equivalents, and restricted cash as of the end of period | 423,385 | 553,755 | 584,179 | 527,948 |
ALEXANDRIA REAL ESTATE EQUITIES, INC. (ARE)
ALEXANDRIA REAL ESTATE EQUITIES, INC. (ARE)