Equinix 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	1,350	815	969	705	500.19
Depreciation & Amortization	2,066	2,011	1,844	1,742	1,663
Other Amortization	-	-	-	18	17.14
Gain (Loss) on Sale of Assets	-1	-18	-5	4	-10.85
Asset Writedown	68	233	-	-	-
Stock-Based Compensation	498	462	407	404	363.77
Change in Accounts Receivable	-40	27	-150	-154	-1.87
Change in Accounts Payable	25	95	161	114	64.6
Change in Other Net Operating Assets	-8	-453	-92	73	-178.86
Other Operating Activities	31	86	79	58	136.86
Operating Cash Flow	3,911	3,249	3,217	2,963	2,547
Operating Cash Flow Growth	20.38%	1.00%	8.57%	16.32%	10.28%
Acquisition of Real Estate Assets	-5,305	-3,403	-3,165	-2,526	-2,953
Sale of Real Estate Assets	-	247	77	250	208.59
Net Sale / Acq. of Real Estate Assets	-5,305	-3,156	-3,088	-2,276	-2,745
Cash Acquisition	-251	-	-	-964	-158.5
Investment in Marketable & Equity Securities	-963	-607	-136	-123	-103.48
Other Investing Activities	104	87	-	-	-
Investing Cash Flow	-6,484	-3,937	-3,224	-3,363	-3,007
Long-Term Debt Issued	4,311	2,768	902	1,871	3,879
Long-Term Debt Repaid	-1,355	-1,140	-149	-722	-2,873
Net Debt Issued (Repaid)	2,956	1,628	753	1,149	1,005
Issuance of Common Stock	194	1,764	821	878	575.5
Common Dividends Paid	-1,856	-1,643	-1,375	-1,152	-1,043
Other Financing Activities	-22	-26	12	-18	-124.29
Foreign Exchange Rate Adjustments	43	-49	-16	-98	-30.47
Net Cash Flow	-1,258	986	188	359	-76.24
Cash Interest Paid	448	486	445	412	426.44
Cash Income Tax Paid	207	185	153	140	134.41
Levered Free Cash Flow	2,833	2,257	3,204	2,927	1,658
Unlevered Free Cash Flow	3,231	2,513	3,441	3,118	1,851
Change in Working Capital	-101	-340	-77	25	-132.73

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