Prologis Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	3,328	3,732	3,059	3,365	2,940
Depreciation & Amortization	2,626	2,581	2,485	1,813	1,578
Other Amortization	85.65	78.89	74.59	23.74	8.66
Gain (Loss) on Sale of Assets	-943.56	-1,318	-623.31	-1,187	-1,590
Stock-Based Compensation	185.47	231.75	267.65	175.36	113.03
Income (Loss) on Equity Investments	242.41	208.85	372.97	99.61	35.78
Change in Accounts Receivable	-	-	-	-	-328.51
Change in Accounts Payable	225.61	194.55	255.06	109.03	176.86
Change in Other Net Operating Assets	-422.1	-341.61	-102.61	-71.31	-
Other Operating Activities	-319.29	-454.48	-415.39	-200.49	62.15
Operating Cash Flow	5,008	4,912	5,373	4,126	2,996
Operating Cash Flow Growth	1.96%	-8.58%	30.21%	37.73%	2.01%
Acquisition of Real Estate Assets	-5,471	-6,420	-8,320	-6,253	-5,459
Sale of Real Estate Assets	2,246	3,790	1,764	2,064	4,222
Net Sale / Acq. of Real Estate Assets	-3,225	-2,630	-6,555	-4,190	-1,237
Investment in Marketable & Equity Securities	-384.5	-482.22	64.09	-365.37	-739.83
Other Investing Activities	-20.8	13.02	71.88	55.82	-13.21
Investing Cash Flow	-3,630	-3,099	-6,419	-4,499	-1,990
Long-Term Debt Issued	3,461	4,506	5,755	4,411	3,921
Long-Term Debt Repaid	-905.78	-1,650	-839.28	-1,381	-2,560
Net Debt Issued (Repaid)	2,555	2,856	4,916	3,030	1,361
Issuance of Common Stock	-	-	-	-	0.74
Repurchase of Common Stock	-23.95	-30.53	-24.54	-27.69	-19.86
Common & Preferred Dividends Paid	-3,765	-3,570	-3,229	-2,495	-1,873
Total Dividends Paid	-3,765	-3,570	-3,229	-2,495	-1,873
Other Financing Activities	-330.05	-255.22	-342.41	-391.45	-477.2
Foreign Exchange Rate Adjustments	12.69	-24.99	-22.04	-20.8	-39.63
Net Cash Flow	-172.94	788.2	251.91	-277.63	-41.97
Cash Interest Paid	842.26	710.75	457.02	234.13	278.86
Cash Income Tax Paid	142.7	129.9	149.1	130	148.7
Levered Free Cash Flow	4,770	4,578	4,864	3,926	2,882
Unlevered Free Cash Flow	5,311	5,040	5,190	4,096	3,040
Change in Working Capital	-196.49	-147.07	152.45	37.72	-151.65

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.