VICI Properties Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	2,785	2,679	2,514	1,118	1,014	891.67
Depreciation & Amortization	3.67	4.13	4.3	3.18	3.09	3.73
Other Amortization	48.28	46.67	46.12	32.36	71.45	19.87
Stock-Based Compensation	16.3	17.51	15.54	12.99	9.37	7.39
Income (Loss) on Equity Investments	-	-	1.99	5.04	-	-
Change in Other Net Operating Assets	-14.01	-11.52	-14.02	46.45	-86.82	47.98
Other Operating Activities	-496.65	-480.82	-489.29	-108.75	-95.04	-331.52
Operating Cash Flow	2,462	2,381	2,181	1,943	896.35	883.64
Operating Cash Flow Growth	6.41%	9.19%	12.23%	116.81%	1.44%	29.54%
Acquisition of Real Estate Assets	-6.21	-13.39	-5.5	-9.58	-23.2	-3.03
Sale of Real Estate Assets	1.97	0.96	6.24	-	13.3	50.05
Net Sale / Acq. of Real Estate Assets	-4.24	-12.43	0.73	-9.58	-9.9	47.02
Investment in Marketable & Equity Securities	-	-	-1,050	-217.34	19.97	39.5
Other Investing Activities	-	-	-	-4,575	-	-
Investing Cash Flow	-1,026	-922.78	-2,899	-9,304	41.45	-4,549
Long-Term Debt Issued	-	1,853	419.15	5,600	-	2,500
Total Debt Issued	2,453	1,853	419.15	5,600	-	2,500
Long-Term Debt Repaid	-	-1,894	-250	-600	-2,100	-537.54
Total Debt Repaid	-2,491	-1,894	-250	-600	-2,100	-537.54
Net Debt Issued (Repaid)	-38.02	-40.94	169.15	5,000	-2,100	1,962
Issuance of Common Stock	638.93	378.69	2,480	3,219	2,386	1,540
Repurchase of Common Stock	-7.23	-5.34	-4.97	-6.16	-1.73	-0.21
Common Dividends Paid	-1,825	-1,753	-1,584	-1,219	-758.79	-612.21
Other Financing Activities	-53.38	-36.54	-28.66	-163.89	-39.43	-10.58
Foreign Exchange Rate Adjustments	0.43	0.45	-0.06	-	-	-
Net Cash Flow	151.84	2.04	313.64	-530.68	423.62	-785.9
Cash Interest Paid	806.79	781.4	762.61	466.81	323.22	262.46
Cash Income Tax Paid	3.31	3.34	4.92	3.02	1.4	0.56
Levered Free Cash Flow	1,279	1,004	-5,688	-17,628	607.98	-4,575
Unlevered Free Cash Flow	1,757	1,474	-5,223	-17,323	781.77	-4,402
Change in Working Capital	-14.01	-11.52	-14.02	46.45	-86.82	47.98

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