Acquisition of interest in unconsolidated real estate joint venture

  
    

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
| Alexandria Real Estate Equities, Inc.Consolidated Statements of Cash Flows(In thousands)(Unaudited) |
|  | Nine Months Ended September 30, |
|  | 2022 |  | 2021 |
| Operating Activities: |  |  |  |
| Net income | $ | 575,433  |  |  | $ | 554,486  |  |
| Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |
| Depreciation and amortization | 737,666  |  |  | 581,807  |  |
| Impairment of real estate | 38,783  |  |  | 52,675  |  |
| Gain on sales of real estate | (537,918) |  |  | (2,344) |  |
| Loss on early extinguishment of debt | 3,317  |  |  | 67,253  |  |
| Equity in earnings of unconsolidated real estate joint ventures | (473) |  |  | (9,237) |  |
| Distributions of earnings from unconsolidated real estate joint ventures | 2,754  |  |  | 15,579  |  |
| Amortization of loan fees | 9,574  |  |  | 8,530  |  |
| Amortization of debt discounts (premiums) | 112  |  |  | (1,539) |  |
| Amortization of acquired above- and below-market leases | (54,221) |  |  | (39,043) |  |
| Deferred rent | (93,818) |  |  | (89,203) |  |
| Stock compensation expense | 46,154  |  |  | 34,416  |  |
| Investment loss (income) | 312,105  |  |  | (372,361) |  |
| Changes in operating assets and liabilities: |  |  |  |
| Tenant receivables | (422) |  |  | (415) |  |
| Deferred leasing costs | (149,234) |  |  | (74,974) |  |
| Other assets | (17,719) |  |  | (27,311) |  |
| Accounts payable, accrued expenses, and other liabilities | 21,065  |  |  | 62,318  |  |
| Net cash provided by operating activities | 893,158  |  |  | 760,637  |  |
|  |  |  |  |
| Investing Activities: |  |  |  |
| Proceeds from sales of real estate | 994,331  |  |  | 65,245  |  |
| Additions to real estate | (2,324,017) |  |  | (1,542,210) |  |
| Purchases of real estate  | (2,499,772) |  |  | (3,758,704) |  |
| Change in escrow deposits | 146,640  |  |  | (147,414) |  |
| Acquisition of interest in unconsolidated real estate joint venture | —  |  |  | (9,048) |  |
| Investments in unconsolidated real estate joint ventures | (1,245) |  |  | (739) |  |
| Return of capital from unconsolidated real estate joint ventures | 471  |  |  | —  |  |
| Additions to non-real estate investments | (186,692) |  |  | (319,077) |  |
| Sales of and distributions from non-real estate investments | 149,666  |  |  | 278,554  |  |
| Net cash used in investing activities | $ | (3,720,618) |  |  | $ | (5,433,393) |  |

  
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