The company said total operating revenues rose about $785.2 million in 2023 compared with 2022. It said rental and other services revenue for stabilized assets increased $513.2 million, of which $289.0 million was utility reimbursement driven by higher power prices and usage.

1. 01

   The company said total operating revenues rose about $785.2 million in 2023 compared with 2022. It said rental and other services revenue for stabilized assets increased $513.2 million, of which $289.0 million was utility reimbursement driven by higher power prices and usage.

2. 02

   In July 2023, the company formed a joint venture with GI Partners, which acquired a stake in 2 hyperscale data center buildings in the Chicago metro area for total consideration of about $0.7 billion. It also formed a joint venture with TPG Real Estate, which acquired a stake in 3 data center buildings in Northern Virginia for total consideration of about $1.4 billion. The gains on disposition were about $238 million and $576 million, respectively.

3. 03

   The company said it generated net proceeds of about $2.2 billion from issuing about 20.0 million common shares under its ATM program in 2023. It also issued about 11.3 million shares under the 2022 Sales Agreement and about 8.7 million shares under the 2023 Sales Agreement.

4. 04

   The company said it had cash and cash equivalents of $1,625.5 million as of December 31, 2023, excluding restricted cash of $11.0 million. It expects capital expenditures for its development programs in 2024, net of partner contributions, of about $2.0 billion to $2.5 billion.

Key figures

Fiscal year ended December 31, 2023

Revenue

$5.5B

Operating income

$524M

Net income

$949M

EPS

$3.00

Operating cash flow

$1.6B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.