The Macerich Company (MAC)

The Macerich Company Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-186.8	-201.06	-197.67	-278.1	-65.08	16.16
Depreciation & Amortization	358.9	368.1	305.88	296.39	302.48	324.4
Stock-Based Compensation	20.86	18.17	12.13	13.17	17.64	14.27
Other Adjustments	62.14	82.93	163.1	258.8	22.1	-112.9
Change in Receivables	3.43	3.4	0.61	3.44	6.61	62.42
Changes in Accounts Payable	33.63	32.52	21.31	-1.46	-0.38	-6.75
Changes in Accrued Expenses	-14.54	-13.56	6.58	11.43	71.01	-28.06
Changes in Other Operating Activities	1.14	-0.61	-10.09	3.27	-16.87	16.82
Operating Cash Flow	310.49	321.6	283.45	295.5	337.51	286.37
Operating Cash Flow Growth	-0.11%	13.46%	-4.08%	-12.45%	17.86%	129.39%
Capital Expenditures	-185.2	-167.43	-167.65	-152.5	-94.79	-108.21
Sale of Property, Plant & Equipment	147.76	159.61	282.15	35.53	50.46	337.51
Purchases of Intangible Assets	-6.73	-5.62	-4.91	-7	-3.11	-2.72
Payments for Business Acquisitions	-133.46	-266.93	-170.83	-46.69	-24.54	-
Other Investing Activities	14.07	-44.98	81.03	223.2	70.59	8.38
Investing Cash Flow	-297.01	-325.34	19.79	52.54	-1.4	234.97
Long-Term Debt Issued	359.1	599.1	1,225	719	277	520
Long-Term Debt Repaid	-356.7	-257.33	-2,024	-863.26	-406.08	-2,020
Net Long-Term Debt Issued (Repaid)	2.4	341.78	-798.65	-144.26	-129.08	-1,500
Issuance of Common Stock	67.04	55.53	658.87	1.22	1.56	831.59
Net Common Stock Issued (Repurchased)	67.04	55.53	658.87	1.22	1.56	831.59
Common Dividends Paid	-186.81	-188.21	-161.29	-159.29	-186.33	-143.45
Other Financing Activities	-19.62	-9.88	-14.98	-36.56	-8.1	-24.77
Financing Cash Flow	-87.22	199.22	-316.05	-338.89	-321.94	-837.02
Net Cash Flow	-73.74	195.48	-12.82	9.16	14.17	-315.69
Free Cash Flow	125.29	154.18	115.8	143	242.72	178.16
Free Cash Flow Growth	-18.73%	33.15%	-19.02%	-41.08%	36.23%	215.15%
FCF Margin	12.45%	15.21%	12.61%	16.18%	28.25%	21.02%
Free Cash Flow Per Share	0.49	0.61	0.52	0.66	1.13	0.90
Levered Free Cash Flow	12.97	363.65	-836.75	-261.19	66.3	-1,288
Unlevered Free Cash Flow	357.29	384.97	319.96	334.4	413.13	285.88

Updated May 7, 2026. Data Source: Fiscal.ai. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q