filings.toolsItem 6. SELECTED FINANCIAL DATA (CONTINUED)
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Item 6. SELECTED FINANCIAL DATA (CONTINUED)
| Year Ended December 31, | ||||||||||||||||||||||||||||||||
| (Dollars in thousands, except per occupied RSF amounts) | 2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||||||||||||||||
| Other Data: | ||||||||||||||||||||||||||||||||
| Net cash provided by operating activities | $ | 882,510 | $ | 683,857 | $ | 570,339 | $ | 450,882 | $ | 393,487 | ||||||||||||||||||||||
| Net cash used in investing activities | $ | 3,278,161 | $ | 3,641,320 | $ | 2,161,760 | $ | 1,737,126 | $ | 1,498,406 | ||||||||||||||||||||||
| Net cash provided by financing activities | $ | 2,750,356 | $ | 2,927,482 | $ | 1,588,433 | $ | 1,420,341 | $ | 1,093,775 | ||||||||||||||||||||||
| Number of properties – North America | 338 | 291 | 237 | 213 | 199 | |||||||||||||||||||||||||||
| RSF – North America (including development and redevelopment projects under construction) | 35,163,572 | 29,098,433 | 24,587,438 | 21,981,133 | 19,869,729 | |||||||||||||||||||||||||||
| Occupancy of operating properties – North America | 94.6% | 96.8% | 97.3% | 96.8% | 96.6% | |||||||||||||||||||||||||||
| Occupancy of operating and redevelopment properties – North America | 90.0% | 94.4% | 95.1% | 94.7% | 95.7% | |||||||||||||||||||||||||||
| Annual rental revenue per occupied RSF – North America | $ | 49.08 | $ | 51.04 | $ | 48.42 | $ | 48.01 | $ | 45.15 | ||||||||||||||||||||||
| Reconciliation of net income (loss) attributable to Alexandria's common stockholders to funds from operations attributable to Alexandria's common stockholders – diluted: | ||||||||||||||||||||||||||||||||
| Net income (loss) attributable to Alexandria Real Estate Equities, Inc.’s common stockholders | $ | 760,791 | $ | 350,995 | $ | 363,983 | $ | 145,395 | $ | (151,141) | ||||||||||||||||||||||
| Depreciation and amortization of real estate assets | 684,682 | 541,855 | 477,661 | 416,783 | 313,390 | |||||||||||||||||||||||||||
| Noncontrolling share of depreciation and amortization from consolidated real estate JVs | (61,933) | (30,960) | (16,077) | (14,762) | (9,349) | |||||||||||||||||||||||||||
| Our share of depreciation and amortization from unconsolidated real estate JVs(1) | 11,413 | 6,366 | 3,181 | 1,551 | 2,707 | |||||||||||||||||||||||||||
| Gain on sales of real estate – rental properties | (154,089) | (474) | (8,704) | (270) | (3,715) | |||||||||||||||||||||||||||
| Our share of gain on sales of real estate from unconsolidated real estate JVs(1) | — | — | (35,678) | (14,106) | — | |||||||||||||||||||||||||||
| Gain on sales of real estate – land parcels | — | — | — | (111) | (90) | |||||||||||||||||||||||||||
| Impairment of real estate – rental properties | 40,501 | (3) | 12,334 | — | 203 | 98,194 | ||||||||||||||||||||||||||
| Assumed conversion of 7.00% Series D cumulative convertible preferred stock(2) | — | 3,204 | 5,060 | — | — | |||||||||||||||||||||||||||
| Allocation to unvested restricted stock awards | (7,018) | (5,904) | (5,961) | (2,920) | — | |||||||||||||||||||||||||||
| Funds from operations attributable to Alexandria’s common stockholders – diluted(4) | 1,274,347 | 877,416 | 783,465 | 531,763 | 249,996 | |||||||||||||||||||||||||||
| Unrealized gains on non-real estate investments | (374,033) | (161,489) | (99,634) | — | — | |||||||||||||||||||||||||||
| Realized gains on non-real estate investments | — | — | (14,680) | — | (4,361) | |||||||||||||||||||||||||||
| Impairment of real estate | 15,221 | — | 6,311 | — | 110,474 | |||||||||||||||||||||||||||
| Impairment of non-real estate investments | 24,482 | 17,124 | 5,483 | 8,296 | 3,065 | |||||||||||||||||||||||||||
| Loss on early extinguishment of debt | 60,668 | 47,570 | 1,122 | 3,451 | 3,230 | |||||||||||||||||||||||||||
| Loss on early termination of interest rate hedge agreements | — | 1,702 | — | — | — | |||||||||||||||||||||||||||
| Termination fee | (86,179) | — | — | — | — | |||||||||||||||||||||||||||
| Acceleration of stock compensation expense due to executive officer resignation | 4,499 | — | — | — | — | |||||||||||||||||||||||||||
| Our share of gain on early extinguishment of debt from unconsolidated real estate JVs(1) | — | — | (761) | — | — | |||||||||||||||||||||||||||
| Preferred stock redemption charge | — | 2,580 | 4,240 | 11,279 | 61,267 | |||||||||||||||||||||||||||
| Removal of assumed conversion of 7.00% Series D cumulative convertible preferred stock(2) | — | (3,204) | (5,060) | — | — | |||||||||||||||||||||||||||
| Allocation to unvested restricted stock awards | 4,790 | 1,307 | 1,517 | (321) | (2,356) | |||||||||||||||||||||||||||
| Funds from operations attributable to Alexandria’s common stockholders – diluted, as adjusted(4) | $ | 923,795 | $ | 783,006 | $ | 682,003 | $ | 554,468 | $ | 421,315 |
(1)Classified in equity in earnings from unconsolidated real estate joint ventures in our consolidated statements of operations under Item 15 in this annual report on Form 10-K.
(2)Refer to “Weighted-average shares of common stock outstanding – diluted” in the “Non-GAAP measures and definitions” section under Item 7 in this annual report on Form 10-K for additional information.
(3)Includes a $7.6 million impairment of our investment in a recently developed retail property held by our unconsolidated real estate joint venture recognized during the three months ended March 31, 2020. This impairment is classified in equity in earnings of unconsolidated real estate joint ventures within our consolidated statements of operations.
(4)Refer to “Funds from operations and funds from operations, as adjusted, attributable to Alexandria Real Estate Equities, Inc.’s common stockholders” in the “Non-GAAP measures and definitions” section under Item 7 in this annual report on Form 10-K.
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