Howard Hughes Holdings 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	274.22	197.7	-551.77	184.53	56.1	-26.15
Depreciation & Amortization	181.3	180.12	168.96	154.82	205.15	217.44
Other Amortization	12.6	12.4	11.84	10.25	10.3	13.3
Loss (Gain) From Sale of Assets	-44.78	-22.91	-24.16	-29.69	-53.06	-51.83
Asset Writedown & Restructuring Costs	-	-	-	-	15.34	62.38
Loss (Gain) From Sale of Investments	48.65	48.65	-	-5.02	-	-1.08
Loss (Gain) on Equity Investments	11.96	12.44	-15.54	-8.19	52.39	-264.42
Stock-Based Compensation	19.78	16.01	16.39	11.9	9.89	5.98
Provision & Write-off of Bad Debts	2.61	-0.5	8.27	0.03	-2.03	21.4
Other Operating Activities	-141.25	-74.21	-77.74	-40.7	-670.52	-187.71
Change in Accounts Receivable	53.56	83.78	117.33	82.77	30.59	78.65
Change in Accounts Payable	74.48	28.78	38.85	14.44	42.83	-1.16
Change in Other Net Operating Assets	-54.26	-34.51	92.41	-33.17	19.07	60.33
Operating Cash Flow	439.2	396.59	-258.48	325.25	-283.96	-72.87
Operating Cash Flow Growth	173.21%	-	-	-	-	-
Capital Expenditures	-18.73	-20.6	-13.24	-2	-1.81	-1.61
Sale of Property, Plant & Equipment	43.57	48.41	39.54	81.72	322.45	24.37
Sale (Purchase) of Real Estate	-251.91	-300.9	-271.25	-311.61	-310.66	-470.36
Investment in Securities	4.69	3.16	13	207.39	90.81	12.35
Other Investing Activities	5.83	-30.86	-104.19	-196.19	0.67	6.7
Investing Cash Flow	-216.55	-300.79	-336.14	-220.7	101.46	-428.55
Long-Term Debt Issued	-	761.43	677.44	1,236	2,423	1,404
Long-Term Debt Repaid	-	-807.55	-147.62	-1,063	-2,140	-867.94
Net Debt Issued (Repaid)	-41.39	-46.12	529.82	172.46	282.52	535.99
Issuance of Common Stock	862.81	-	-	0.35	4.08	598.21
Repurchase of Common Stock	-3.59	-2.31	-2.7	-406.88	-83.63	-2.23
Other Financing Activities	12.59	-101.93	21.62	11.81	-46.83	-7.69
Financing Cash Flow	830.43	-150.35	548.74	-222.26	156.14	1,124
Net Cash Flow	1,053	-54.55	-45.88	-117.7	-26.36	622.86
Free Cash Flow	420.47	375.99	-271.72	323.25	-285.77	-74.48
Free Cash Flow Growth	201.11%	-	-	-	-	-
Free Cash Flow Margin	22.93%	21.48%	-29.90%	21.70%	-20.01%	-10.65%
Free Cash Flow Per Share	7.81	7.53	-5.48	6.39	-5.23	-1.42
Cash Interest Paid	298.36	298.36	240	205.76	182.65	179.36
Cash Income Tax Paid	10.22	3.94	10.61	24.97	1.79	-2.41
Levered Free Cash Flow	517.47	881.75	-65.83	196.55	149.43	185.48
Unlevered Free Cash Flow	611.73	972.43	20.82	256.61	220.4	254.84
Change in Working Capital	73.78	78.05	248.59	64.04	92.48	137.82

Updated Nov 7, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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