Empire State Realty OP Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	60.2	72.98	80.36	84.34	63.46	-13.02
Depreciation & Amortization	179.79	178.22	168	171.72	194.52	175.14
Other Amortization	21.18	21.18	22.47	23.61	25.45	28.6
Gain (Loss) on Sale of Assets	-21.85	-35.02	-13.3	-26.76	-33.99	-
Asset Writedown	-	-	-	-	-	7.72
Stock-Based Compensation	26.06	25.17	21.7	20.03	21.01	20.26
Change in Accounts Receivable	5.31	9.27	6.89	-15.64	-5.31	2.89
Change in Accounts Payable	-0.24	9.4	13.59	0.75	4.71	-0.1
Change in Other Net Operating Assets	-25.11	-23.4	-36.09	-12.37	-40	-11.33
Other Operating Activities	-9.89	-9.2	-2.1	-10.41	-15.01	-10.02
Operating Cash Flow	234.82	249.05	260.89	232.49	211.17	212.49
Operating Cash Flow Growth	-14.02%	-4.54%	12.22%	10.10%	-0.62%	16.56%
Acquisition of Real Estate Assets	-633.13	-610.53	-378.86	-166.25	-241.9	-212.74
Sale of Real Estate Assets	60.52	60.52	-	88.91	11.01	-
Net Sale / Acq. of Real Estate Assets	-572.61	-550.01	-378.86	-77.34	-230.89	-212.74
Investment in Marketable & Equity Securities	-	-	-14.23	-	-	-
Other Investing Activities	-	-	-4.03	-	-	-
Investing Cash Flow	-572.61	-550.01	-397.12	-77.34	-230.89	-212.74
Long-Term Debt Issued	-	615	440	-	-	-
Total Debt Issued	683.5	615	440	-	-	-
Long-Term Debt Repaid	-	-520.26	-226.86	-8.63	-7.5	-4.09
Total Debt Repaid	-420.34	-520.26	-226.86	-8.63	-7.5	-4.09
Net Debt Issued (Repaid)	263.16	94.74	213.14	-8.63	-7.5	-4.09
Issuance of Common Stock	-	-	-	0.19	0.22	-
Repurchase of Common Stock	-8.85	-9.03	-	-13.11	-90.18	-46.7
Common Dividends Paid	-38.9	-38.98	-38.29	-37.12	-38.59	-28.56
Preferred Dividends Paid	-4.2	-4.2	-4.2	-4.2	-4.2	-4.2
Total Dividends Paid	-43.1	-43.18	-42.49	-41.32	-42.79	-32.76
Other Financing Activities	-4.68	-4.35	-12.07	-	-	-9.49
Net Cash Flow	-131.27	-262.79	22.35	92.28	-159.96	-93.3
Cash Interest Paid	93.37	93.37	94.67	92	91.01	77.61
Cash Income Tax Paid	1.64	1.64	0.87	0.71	0.2	0.64
Levered Free Cash Flow	233.23	411.77	119.47	261.3	262.52	212.68
Unlevered Free Cash Flow	298.44	476.64	188.04	324.73	325.77	271.67
Change in Working Capital	-20.67	-4.28	-16.23	-30.03	-44.27	3.8

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

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