AvalonBay Communities Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	1,169	1,082	928.83	1,137	1,004	827.63
Depreciation & Amortization	895.53	846.85	816.97	814.98	758.6	707.33
Other Amortization	13.46	13.28	12.73	11.22	10.14	9.33
Gain (Loss) on Sale of Assets	-462.28	-364.16	-287.99	-600.96	-630.75	-354.25
Gain (Loss) on Sale of Investments	-	-	-	-38.14	-	-5.16
Asset Writedown	19.74	18.34	33.48	5.6	0.69	9.26
Stock-Based Compensation	26.4	25.37	27.14	33.86	25.51	21.6
Income (Loss) on Equity Investments	-27.4	-21.69	5.33	43.4	-0.11	13.83
Change in Other Net Operating Assets	-38.34	6.76	17.8	10.01	10	-25.46
Other Operating Activities	3.72	1.13	5.75	5.19	24.8	15.5
Operating Cash Flow	1,599	1,608	1,560	1,422	1,203	1,220
Operating Cash Flow Growth	-1.58%	3.07%	9.71%	18.18%	-1.35%	-7.73%
Acquisition of Real Estate Assets	-1,353	-1,149	-1,099	-1,096	-808.1	-980.94
Sale of Real Estate Assets	1,008	711.28	467.1	1,051	974.76	821.81
Net Sale / Acq. of Real Estate Assets	-344.8	-437.85	-632.03	-44.53	166.67	-159.14
Cash Acquisition	-830.03	-464.42	-215.89	-536.84	-771.69	-
Investment in Marketable & Equity Securities	-36.69	-3	-13.39	37.2	9.64	-24.93
Other Investing Activities	-27.84	-91.6	-67.65	-16.25	-28.66	4.64
Investing Cash Flow	-1,239	-996.86	-928.96	-560.42	-624.05	-179.43
Long-Term Debt Issued	-	398.79	399.76	348.57	1,099	1,348
Long-Term Debt Repaid	-	-309.79	-797	-143.33	-571.71	-1,085
Net Debt Issued (Repaid)	346.32	89	-397.24	205.23	526.93	262.19
Issuance of Common Stock	6.68	10.54	496.71	20.02	31.87	3.46
Repurchase of Common Stock	-168.77	-16.88	-12.55	-16.99	-13.46	-198.79
Common Dividends Paid	-984.66	-961.91	-922.66	-889.61	-888.34	-883.21
Other Financing Activities	-30.29	4.37	1.39	10.29	-5.86	-37.91
Net Cash Flow	-470.59	-263.88	-203.29	190.46	230.26	185.92
Cash Interest Paid	241.17	213.25	187.52	212.24	203.77	196.85
Levered Free Cash Flow	1,318	1,233	1,216	1,149	1,016	996.85
Unlevered Free Cash Flow	1,460	1,362	1,332	1,282	1,144	1,121
Change in Working Capital	-38.34	6.76	17.8	10.01	10	-25.46

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