JBG SMITH Properties 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	-139.06	-143.53	-79.98	85.37	-79.26
Depreciation & Amortization	190.2	208.34	209.24	212.18	235.11
Other Amortization	19.52	12.44	7.14	12.27	12.12
Gain (Loss) on Sale of Assets	-46.63	2.75	-79.34	-161.89	-11.29
Gain (Loss) on Sale of Investments	3.2	6.7	28.6	19.3	23.9
Asset Writedown	65.85	55.43	90.23	-	25.14
Stock-Based Compensation	24.86	29.52	32.1	41.27	51.55
Income (Loss) on Equity Investments	2.74	2.32	19.1	9.54	-5.92
Change in Accounts Receivable	-0.05	18.21	11.12	-13.15	8.81
Change in Accounts Payable	-4.79	0.61	-11.26	-1.28	8.7
Change in Other Net Operating Assets	-5.13	-9.45	-22.37	-0.8	-16.88
Other Operating Activities	-37.43	-53.95	-21.22	-24.76	-34.38
Operating Cash Flow	73.26	129.39	183.37	178.04	217.62
Operating Cash Flow Growth	-43.38%	-29.44%	3.00%	-18.19%	28.75%
Acquisition of Real Estate Assets	-162.54	-218.03	-353.3	-392.04	-381.52
Sale of Real Estate Assets	545.19	202.02	281.53	928.91	14.37
Net Sale / Acq. of Real Estate Assets	382.65	-16.01	-71.77	536.87	-367.15
Investment in Marketable & Equity Securities	-22.09	158.4	-18.5	-12.84	-1.59
Other Investing Activities	-3.24	1.76	-7.91	-	-
Investing Cash Flow	357.32	144.16	-98.18	524.02	-368.74
Short-Term Debt Issued	836	318	371.75	100	300
Long-Term Debt Issued	283.17	187.9	515.14	329.74	190
Total Debt Issued	1,119	505.9	886.89	429.74	490
Short-Term Debt Repaid	-716	-295	-309.75	-400	-
Long-Term Debt Repaid	-507.87	-197.95	-281.85	-270.68	-25.58
Total Debt Repaid	-1,224	-492.95	-591.6	-670.68	-25.58
Net Debt Issued (Repaid)	-104.7	12.94	295.29	-240.93	464.42
Issuance of Common Stock	0.8	0.95	1.1	1.46	1.59
Repurchase of Common Stock	-443.65	-170.77	-335.31	-361.04	-157.69
Common Dividends Paid	-48.43	-62.01	-94	-107.69	-118.12
Other Financing Activities	85.52	-71.91	-25.9	-21.88	-0.33
Net Cash Flow	-79.9	-17.25	-73.63	-28.02	38.76
Cash Interest Paid	128.28	116.34	88.76	71.86	61.93
Cash Income Tax Paid	0.06	0.12	1.92	1.21	0.82
Levered Free Cash Flow	312.12	-2.8	180.99	334.73	257.4
Unlevered Free Cash Flow	393.48	74.18	243.47	377.65	295.72
Change in Working Capital	-9.98	9.37	-22.5	-15.24	0.63

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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