The Macerich Company (MAC)

The Macerich Company Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-201.06	-197.67	-278.1	-65.08	16.16
Depreciation & Amortization	368.1	305.88	296.39	302.48	324.4
Stock-Based Compensation	18.17	12.13	13.17	17.64	14.27
Other Adjustments	82.93	163.1	258.8	22.1	-112.9
Change in Receivables	3.4	0.61	3.44	6.61	62.42
Changes in Accounts Payable	32.52	21.31	-1.46	-0.38	-6.75
Changes in Accrued Expenses	-13.56	6.58	11.43	71.01	-28.06
Changes in Other Operating Activities	-0.61	-10.09	3.27	-16.87	16.82
Operating Cash Flow	321.6	283.45	295.5	337.51	286.37
Operating Cash Flow Growth	13.46%	-4.08%	-12.45%	17.86%	129.39%
Capital Expenditures	-167.43	-167.65	-152.5	-94.79	-108.21
Sale of Property, Plant & Equipment	159.61	282.15	35.53	50.46	337.51
Purchases of Intangible Assets	-5.62	-4.91	-7	-3.11	-2.72
Payments for Business Acquisitions	-266.93	-170.83	-46.69	-24.54	-
Other Investing Activities	-44.98	81.03	223.2	70.59	8.38
Investing Cash Flow	-325.34	19.79	52.54	-1.4	234.97
Long-Term Debt Issued	599.1	1,225	719	277	520
Long-Term Debt Repaid	-257.33	-2,024	-863.26	-406.08	-2,020
Net Long-Term Debt Issued (Repaid)	341.78	-798.65	-144.26	-129.08	-1,500
Issuance of Common Stock	55.53	658.87	1.22	1.56	831.59
Net Common Stock Issued (Repurchased)	55.53	658.87	1.22	1.56	831.59
Common Dividends Paid	-188.21	-161.29	-159.29	-186.33	-143.45
Other Financing Activities	-9.88	-14.98	-36.56	-8.1	-24.77
Financing Cash Flow	199.22	-316.05	-338.89	-321.94	-837.02
Net Cash Flow	195.48	-12.82	9.16	14.17	-315.69
Free Cash Flow	154.18	115.8	143	242.72	178.16
Free Cash Flow Growth	33.15%	-19.02%	-41.08%	36.23%	215.15%
FCF Margin	15.21%	12.61%	16.18%	28.25%	21.02%
Free Cash Flow Per Share	0.61	0.52	0.66	1.13	0.90
Levered Free Cash Flow	363.65	-836.75	-261.19	66.3	-1,288
Unlevered Free Cash Flow	384.97	319.96	334.4	413.13	285.88

Updated Dec 31, 2025. Data Source: Fiscal.ai. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q