What does consolidation — notes issued1 mean?

This metric represents the elimination of notes payable or receivable issued between consolidated entities. It removes the impact of internal debt financing to ensure that the consolidated balance sheet only reflects debt owed to external parties. This is a critical adjustment for calculating the true consolidated leverage of the REIT.

Alexandria Real Estate Equities ARE Consolidation — Notes Issued1

Discontinued — last reported Q4 '14

Similar metrics at other companies

ADAMConsolidation of mortgages payable on real estate held in Consolidated VIEs

$0—

NREFAdjustment To Mortgages Payable Net On Consolidation Of Real Estate

-$10.66M—

PRUNotes Issued by Consolidated Variable Interest Entities

$3.28B+128%

PMTSenior unsecured notes, net

$0-100%

KREFConsolidation of variable interest entities, CMBS Trust (incremental assets and liabilities)

$752.72M—

RITMLiabilities related to deconsolidated CFEs

$451.8M—

Other financials

Income statement

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Revenue$671.0M-11.5%

Net income$361.7M+4,146%

EPS (diluted)$2.10+3,100%

Balance sheet

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Cash & equivalents$418.7M-12.1%

Total debt$358.6M-3.4%

Total equity$15.7B-9.9%

Total assets$34.2B-9.1%

Cash flow

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Operating cash flow$196.6M-5.4%

CapEx$137.6M-6.4%

Free cash flow$59.0M-3.1%

Valuation

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Market cap$8.89B-49.8%

Enterprise value$8.83B-49.8%

P/S3×-2.7×

Profitability

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Net margin-36%-42.7pp

FCF margin36.5%+1.8pp

Returns & leverage

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Return on equity-6.4%-7.5pp

Debt / equity0×0.0×

Where this comes from

Reported directly by Alexandria Real Estate Equities in its filing.

Tagged under the XBRL concept us-gaap:NotesIssued1.

The official record: Alexandria Real Estate Equities’s 10-K, filed January 31, 2017, on SEC EDGAR. View the filing →

Questions, answered.

What does consolidation — notes issued1 mean?: This metric represents the elimination of notes payable or receivable issued between consolidated entities. It removes the impact of internal debt financing to ensure that the consolidated balance sheet only reflects debt owed to external parties. This is a critical adjustment for calculating the true consolidated leverage of the REIT.