Risk Factors Update Summary
- Leasing focus shifted to technology and media industries on the West Coast and financial, legal, and professional firms in New York.
- Impairment loss of approximately $272.6 million recognized in 2023, with potential for additional charges.
- Increased interest rates may elevate interest costs on variable rate debt, impacting cash flow.
- Senior debt credit ratings downgraded in December 2023 and January 2024, potentially leading to higher borrowing costs.
- Total equity decreased from $12.010 billion to $11.634 billion, impacting financial position.
- Consolidated Debt increased from $14.707 billion to $15.366 billion, affecting leverage ratios.
- Potential labor shortages could impact construction costs and project timelines, affecting investment returns.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1037540&owner=exclude
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