| Financial Highlights |
For the years ended December 31, |
| (U.S. dollars in thousands, except per share
amounts) |
|
2004 |
|
|
2003 |
|
|
2002 |
|
|
2001 |
|
|
2000 |
|
| Revenues |
$ |
665,889 |
|
$ |
586,629 |
|
$ |
563,231 |
|
$ |
510,505 |
|
$ |
415,172 |
| |
| Net Income Available to Common Stockholders |
|
118,340 |
|
|
116,716 |
|
|
113,035 |
|
|
120,100 |
|
|
113,282 |
| |
| FFO(1) |
|
207,314 |
|
|
186,666 |
|
|
215,194 |
|
|
186,707 |
|
|
202,751 |
| |
| Per Diluted Share: |
|
| |
| Earnings per Share |
|
1.39 |
|
|
1.41 |
|
|
1.33 |
|
|
1.41 |
|
|
1.35 |
| |
| FFO per Share(1) |
|
2.30 |
|
|
2.13 |
|
|
2.40 |
|
|
2.07 |
|
|
2.25 |
| |
| Dividends per Share |
|
1.70 |
|
|
1.66 |
|
|
1.64 |
|
|
1.58 |
|
|
1.48 |
|
| (U.S. dollars, shares and square feet in thousands) |
|
2004 |
|
|
2003 |
|
|
2002 |
|
|
2001 |
|
|
2000 |
|
| Total Assets |
$ |
6,386,943 |
|
$ |
5,409,559 |
|
$ |
4,983,629 |
|
$ |
4,763,614 |
|
$ |
4,433,207 |
| |
| AMB’s Share of Total Debt(2) |
|
2,395,046 |
|
|
1,954,314 |
|
|
1,691,737 |
|
|
1,655,386 |
|
|
1,681,161 |
| |
| Market Equity |
|
3,554,108 |
|
|
2,845,984 |
|
|
2,376,923 |
|
|
2,308,563 |
|
|
2,322,265 |
| |
| AMB’s Share of Total Debt-to-AMB’s Share |
|
54.0% |
|
|
49.6% |
|
|
44.9% |
|
|
43.8% |
|
|
44.6% |
| of Total Book Capitalization(2) |
|
| |
| AMB’s Share of Total Debt-to-AMB’s Share |
|
37.8% |
|
|
37.9% |
|
|
37.7% |
|
|
38.1% |
|
|
37.9% |
| of Total Market Capitalization(2)(3) |
|
| |
| Shares Outstanding |
|
87,995 |
|
|
86,557 |
|
|
86,876 |
|
|
88,791 |
|
|
89,967 |
| |
| Square Feet |
|
110,722 |
|
|
101,521 |
|
|
94,587 |
|
|
94,139 |
|
|
91,308 |
| (Operating, development, and under management) |
|
| |
| Occupancy (Operating) |
|
94.8% |
|
|
93.1% |
|
|
94.6% |
|
|
94.5% |
|
|
96.4% |
(1) See “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Supplemental Earnings Measures” for a discussion of FFO as well as for a reconciliation of this measure to a GAAP financial measure.
(2) For a reconciliation of AMB’s Share of Total Debt to Total Consolidated Debt, a GAAP financial measure, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Liquidity and Capital Resources — Capital Resources.”
(3) Our definition of “AMB’s Share of Total Market Capitalization” is our share of Total Debt plus preferred equity liquidation preferences plus market equity.
|
