Douglas Emmett Inc

Listed Company

DEICIK 0001364250NYSELarge AcceleratedReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$1.00B

Net Income

$16.27M

Total Assets

$9.29B

Equity

$1.90B

Shares Out

167.46M

Op. Cash Flow

$386.85M

Business

Douglas Emmett Inc is a fully integrated, self-administered and self-managed REIT that owns, acquires, develops and manages high-quality office and multifamily properties concentrated in premier coastal submarkets. It offers office and multifamily rental services, tenant services (including parking and storage), property management, in-house leasing, design and construction, and fund and joint venture management. The company operates two business segments—office and multifamily—and also manages consolidated joint ventures and an unconsolidated fund. Its properties and services are concentrated in Los Angeles submarkets (Beverly Hills, Brentwood, Burbank, Century City, Olympic Corridor, Santa Monica, Sherman Oaks/Encino, Warner Center/Woodland Hills and Westwood) and in Honolulu, distributed through direct ownership, JVs and its fund.

Summary from filing dated 2025-02-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	1,004	986	1,020	994	918
General and administrative expenses	47	45	49	45	43
Depreciation and amortization	399	384	460	373	371
Total operating expenses	814	780	871	752	717
Other income	18	28	20	5	2
Other expenses	−437,000	−398,000	−1	−714,000	−937,000
Income (loss) from unconsolidated Fund	0	3	−35	1	946,000
Interest expense	−267	−229	−209	−150	—
Gain from consolidation of JV	47	0	0	—	0
Net (loss) income	−11	8	−76	97	56
Net loss attributable to noncontrolling interests	28	16	33	605,000	9
Net income (loss) attributable to common stockholders	16	24	−43	97	65
Net income (loss) per common share - basic (usd per share)	0.09	0.13	−0.26	0.55	0.37
Net income (loss) per common share diluted (usd per share)	0.09	0.13	−0.26	0.55	0.37

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Investment in real estate, gross	12,798	12,495	12,406	12,293	11,819
Less: accumulated depreciation and amortization	−4,055	−3,917	−3,653	−3,299	−3,029
Investment in real estate, net	8,743	8,579	8,753	8,994	8,790
Ground lease right-of-use asset	7	7	7	7	7
Cash and cash equivalents	341	445	523	269	336
Tenant receivables	2	4	6	7	13
Deferred rent receivables	124	118	115	115	115
Acquired lease intangible assets, net	5	2	3	4	4
Interest rate contract assets	22	78	171	270	15
Investment in unconsolidated Fund	0	24	16	48	47
Other assets	44	147	49	34	26
Total Assets	9,288	9,404	9,644	9,747	9,354
Secured notes payable, net	5,549	5,498	5,543	5,192	5,012
Ground lease liability	11	11	11	11	11
Interest payable, accounts payable and deferred revenue	140	131	131	141	145
Security deposits	67	62	62	61	55
Acquired lease intangible liabilities, net	8	11	20	31	25
Interest rate contract liabilities	6	0	0	2	70
Dividends payable	32	32	32	33	49
Total Liabilities	5,813	5,745	5,799	5,472	5,367
Common Stock, $0.01 par value, 750,000,000 authorized, 167,462,215 and 167,435,259 outstanding at December 31, 2025 and December 31, 2024, respectively	2	2	2	2	2
Additional paid-in capital	3,397	3,396	3,393	3,493	3,489
Accumulated other comprehensive income	11	55	116	187	−39
Accumulated deficit	−1,505	−1,394	−1,291	−1,120	−1,036
Total Douglas Emmett, Inc. stockholders' equity	1,905	2,059	2,220	2,562	2,416
Noncontrolling interests	1,570	1,600	1,626	1,713	1,570
Total Equity	3,475	3,658	3,845	4,276	3,987
Total Liabilities and Equity	9,288	9,404	9,644	9,747	9,354

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net accretion of acquired lease intangibles	−5	−8	−11	−11	−10
Straight-line rent	−6	−2	−342,000	169,000	1
Loan premium/discount amortized/accreted and written off	336,000	−333,000	−460,000	−460,000	−460,000
Deferred loan costs amortized and written off	12	9	9	8	11
Amortization of stock-based compensation	21	21	20	21	21
Operating distributions from unconsolidated Fund	0	1	1	1	943,000
Purchase of interest rate caps	0	0	−2	0	0
Tenant receivables	2	2	783,000	6	5
Interest payable, accounts payable and deferred revenue	11	−4,000	6	−1	−3
Security deposits	3	491,000	529,000	5	−962,000
Other assets	7	−4	−16	447,000	−5
Net cash provided by operating activities	387	409	427	497	447
Capital expenditures for improvements to real estate	−192	−167	−189	−162	−108
Capital expenditures for developments and purchase of note receivable secured by real estate	−102	−72	−41	−76	—
Insurance recoveries for damage to real estate	4	4	2	6	3
Cash assumed from consolidation of JV	26	0	0	—	0
Acquisition of additional interests in unconsolidated Fund	0	−5	−5	0	0
Capital distributions from unconsolidated Fund	0	269,000	80,000	2	1
Net cash used in investing activities	−265	−241	−234	−561	−289
Proceeds from borrowings	1,323	325	505	245	1,345
Repayment of borrowings	−1,366	−435	−156	−71	−1,076
Loan cost payments	−31	−6	−6	−2	−12
Contributions from noncontrolling interests in consolidated JVs	5	28	125,000	81	0
Distributions paid to noncontrolling interests	−28	−32	−41	−59	−55
Dividends paid to common stockholders	−127	−127	−130	−197	−197
Repurchases of OP Units	−351,000	−138,000	−2	−337,000	−122,000
Repurchases of common stock	0	0	−109	0	0
Net cash (used in) provided by financing activities	−225	−246	61	−3	5
(Decrease) increase in cash and cash equivalents and restricted cash	−104	−79	254	−67	163
Cash paid for interest, net of capitalized interest	237	220	196	141	137
Capitalized interest paid	11	9	1	9	9
Accrual for real estate and development capital expenditures	17	16	17	34	38
Capitalized stock-based compensation for improvements to real estate and developments	6	6	6	5	6
Removal of fully depreciated and amortized buildings, building improvements, tenant improvements and lease intangibles	253	114	102	100	157
Removal of fully amortized acquired lease intangible assets	2	203,000	427,000	1	442,000
Removal of fully accreted acquired lease intangible liabilities	10	13	17	12	24
Gain recorded in AOCI	−8	48	45	326	83
Dividends declared	127	127	128	181	—
Exchange of OP Units for common stock	379,000	4	8	5	1
Seller financing of note receivable purchase	0	62	0	0	—

Filings

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