AvalonBay Communities Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,082	928.83	1,137	1,004
Depreciation & Amortization	846.85	816.97	814.98	758.6
Other Amortization	13.28	12.73	11.22	10.14
Gain (Loss) on Sale of Assets	-364.16	-287.99	-600.96	-630.75
Gain (Loss) on Sale of Investments	-	-	-38.14	-
Asset Writedown	18.34	33.48	5.6	0.69
Stock-Based Compensation	25.37	27.14	33.86	25.51
Income (Loss) on Equity Investments	-21.69	5.33	43.4	-0.11
Change in Other Net Operating Assets	6.76	17.8	10.01	10
Other Operating Activities	1.13	5.75	5.19	24.8
Operating Cash Flow	1,608	1,560	1,422	1,203
Operating Cash Flow Growth	3.07%	9.71%	18.18%	-1.35%
Acquisition of Real Estate Assets	-1,149	-1,099	-1,096	-808.1
Sale of Real Estate Assets	711.28	467.1	1,051	974.76
Net Sale / Acq. of Real Estate Assets	-437.85	-632.03	-44.53	166.67
Cash Acquisition	-464.42	-215.89	-536.84	-771.69
Investment in Marketable & Equity Securities	-3	-13.39	37.2	9.64
Other Investing Activities	-91.6	-67.65	-16.25	-28.66
Investing Cash Flow	-996.86	-928.96	-560.42	-624.05
Long-Term Debt Issued	398.79	399.76	348.57	1,099
Long-Term Debt Repaid	-309.79	-797	-143.33	-571.71
Net Debt Issued (Repaid)	89	-397.24	205.23	526.93
Issuance of Common Stock	10.54	496.71	20.02	31.87
Repurchase of Common Stock	-16.88	-12.55	-16.99	-13.46
Common Dividends Paid	-961.91	-922.66	-889.61	-888.34
Other Financing Activities	4.37	1.39	10.29	-5.86
Net Cash Flow	-263.88	-203.29	190.46	230.26
Cash Interest Paid	213.25	187.52	212.24	203.77
Levered Free Cash Flow	1,233	1,216	1,149	1,016
Unlevered Free Cash Flow	1,362	1,332	1,282	1,144
Change in Working Capital	6.76	17.8	10.01	10

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.