Simon Property Group, Inc. (SPG)

Simon Property Group Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	2,247	2,371	2,283	2,140	2,250	1,113
Depreciation & Amortization	1,429	1,331	1,299	1,253	1,283	1,304
Other Amortization	29.15	29.15	34.12	39.61	43.03	51.35
Gain (Loss) on Sale of Investments	-108.04	-451.17	-362.02	-121.18	-178.67	-
Income (Loss) on Equity Investments	-23.72	155.41	83.05	-86.39	-345.96	-35.14
Change in Accounts Receivable	0.59	36.16	-11.8	63.35	265.35	-415.91
Change in Accounts Payable	172.74	127.24	245.51	190.1	203.97	19.08
Change in Other Net Operating Assets	-184.91	-235.88	24.42	-104.57	-77.59	-28.19
Other Operating Activities	456.5	452.14	334.92	393.64	194.78	319.3
Operating Cash Flow	4,018	3,815	3,931	3,767	3,637	2,327
Operating Cash Flow Growth	6.71%	-2.96%	4.36%	3.55%	56.33%	-38.90%
Acquisition of Real Estate Assets	-897.32	-755.58	-793.28	-650.02	-527.94	-484.12
Sale of Real Estate Assets	55.2	55.2	-	59.66	3	33.42
Net Sale / Acq. of Real Estate Assets	-842.12	-700.38	-793.28	-590.37	-524.94	-450.7
Cash Acquisition	-916.53	-9.88	-65.83	-182.38	-251.49	-3,607
Investment in Marketable & Equity Securities	489.8	2,143	-512.43	196.66	218.28	56.04
Other Investing Activities	38.97	-24.12	8.37	-50.49	5.38	22.96
Investing Cash Flow	-1,230	1,408	-1,363	-626.56	-552.76	-3,978
Long-Term Debt Issued	-	1,096	3,630	3,449	9,251	15,235
Long-Term Debt Repaid	-	-2,969	-2,659	-3,722	-10,127	-12,955
Net Debt Issued (Repaid)	-187.09	-1,874	971.32	-272.46	-875.75	2,280
Issuance of Common Stock	-	-	-	-	-	1,556
Repurchase of Common Stock	-13.91	-10.56	-146.39	-187.18	-2.32	-153.44
Preferred Share Repurchases	-0.33	-7.83	-2.83	-0.33	-0.33	-
Common & Preferred Dividends Paid	-2,761	-2,645	-2,439	-2,264	-2,352	-1,443
Total Dividends Paid	-2,761	-2,645	-2,439	-2,264	-2,352	-1,443
Other Financing Activities	-443.25	-454.28	-403.12	-328.38	-332.16	-245.17
Net Cash Flow	-617.53	231.35	547.36	87.69	-477.68	342.24
Cash Interest Paid	911.35	911.35	856.11	763.2	822.18	754.31
Cash Income Tax Paid	119.15	119.15	31.19	53.24	-	-
Levered Free Cash Flow	2,034	1,968	2,003	2,007	1,688	1,717
Unlevered Free Cash Flow	2,616	2,534	2,537	2,483	2,185	2,208
Change in Working Capital	-11.58	-72.48	258.13	148.89	391.73	-425.02

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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