The Macerich Company (MAC) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 94.49M | 50.2M | 112.39M | 91.64M | 88.49M | 54.87M | 100.05M | 104.19M | 61.09M | 49.38M | 107.4M | 81.88M | 80.73M | 52.52M | 169.57M | 49.98M | 65.44M | 74.73M | 98.61M | 60.81M |
| Operating CF Growth % | 6.77% | -8.51% | 12.34% | -12.04% | 44.84% | 11.12% | -6.84% | 27.24% | -24.32% | -5.98% | -36.66% | 63.84% | 23.36% | -29.72% | 71.96% | -17.81% | 25.33% | 25.16% | 22.48% | 193.43% |
| Operating CF / Revenue % | 38.92% | 19.09% | 44.38% | 36.69% | 35.51% | 20.05% | 45.43% | 48.34% | 29.26% | 20.69% | 49.23% | 38.56% | 37.57% | 23.01% | 80.48% | 24.49% | 30.28% | 32.58% | 46.48% | 28.22% |
| Net Income | -36.56M | -18.76M | -90M | -113.52M | -51.15M | -219.62M | -112.1M | 251.61M | -131.45M | 66.47M | -271.96M | -15.18M | -58.19M | 3.46M | -13.5M | -17.69M | -37.18M | -25M | 112.96M | -4.06M |
| Depreciation & Amortization | 83.08M | 85.12M | 93.99M | 88.5M | 95.22M | 84.16M | 75.93M | 71.68M | 71.38M | 72.66M | 74.4M | 70.39M | 75.03M | 76.34M | 75.38M | 75.09M | 75.67M | 82.95M | 78.85M | 81.79M |
| Stock-Based Compensation | 0 | 0 | -8.51M | 0 | 3.21M | 3.52M | 3.42M | 0 | 2.73M | 2.29M | 1.01M | 0 | 4.89M | 4.22M | 4.27M | 4.28M | 4.87M | 3.4M | 3.41M | 3.43M |
| Other Non-Cash Items | 29.23M | 2.35M | 82.26M | 119.65M | 25.22M | 216M | 94.05M | -226.41M | 118.8M | -58.16M | 258.94M | 33.15M | 46.23M | -3.2M | -3.75M | 997K | 27.17M | 18.97M | -122.56M | -33.02M |
| Working Capital Changes | 18.75M | -18.5M | 35.35M | -3M | 16.82M | -28.31M | 38.2M | 7.31M | 853K | -33.21M | 43.33M | -6.47M | 14.65M | -28.05M | 107.33M | -12.03M | -6.89M | -3.09M | 25.84M | 5.56M |
| Cash from Investing | -72.65M | -7.17M | -3.51M | -252.74M | -83.04M | 37.16M | 65.98M | -93.13M | -26.98M | 20.23M | -26.6M | -83.14M | 118.17M | -48.05M | -4.47M | 4.16M | 46.95M | -21.16M | 151.18M | 31.2M |
| Acquisitions (Net) | -830K | 0 | 110.32M | 0 | -96.69M | 29.67M | -7M | 0 | -12.69M | -25.58M | -18.34M | 0 | -12.94M | -38.76M | -11.08M | -12.46M | -19.42M | -30.27M | -17.09M | -13.81M |
| Purchase of Investments | -24.03M | 0 | 0 | -280.55M | 0 | 0 | 0 | -59.18M | 0 | 0 | 0 | -70.99M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Sale of Investments | 13.85M | 0 | 0 | 64.75M | 0 | 0 | 0 | 20.23M | 0 | 0 | 0 | 28.24M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | 0 | -7.17M | -113.83M | 0 | 13.65M | 7.49M | 72.97M | -13.01M | -14.29M | 45.81M | -8.26M | -5.02M | 131.1M | -9.3M | 6.61M | 16.63M | 66.38M | 9.11M | 168.27M | 45.02M |
| Cash from Financing | -124.03M | -50.67M | 46.25M | 42.07M | 161.58M | -144.53M | -117.7M | -54.48M | 667K | -87.45M | -57.47M | -19.63M | -174.34M | 11.69M | -158.57M | -79.87M | -95.19M | -59.72M | -340M | -979.75M |
| Dividends Paid | -44.27M | -43.6M | -96.17M | -43M | -50.43M | -41.22M | -39.84M | -36.72M | -39.2M | -39.16M | -38.99M | -36.61M | -41.81M | -36.54M | -70.08M | -35.4M | -41.31M | -38.93M | -35.97M | -41.87M |
| Common Dividends | 0 | -43.6M | -96.17M | -43M | -50.43M | -41.22M | -39.84M | -36.72M | -39.2M | -39.16M | -38.99M | -36.61M | -41.81M | -39.53M | -70.08M | -35.4M | -41.31M | -38.93M | -35.97M | -41.87M |
| Debt Issuance (Net) | -1000K | -1000K | 1000K | 1000K | 1000K | -1000K | -1000K | -1000K | 1000K | -1000K | -1000K | 1000K | -1000K | 1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -184K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -4.77M | 3.23M | 50.29M | -2.32M | -1.57M | -2.59M | -756K | -4.31M | -4.27M | -106K | -12.29M | -115.28M | -13.27M | -6.07M | -722K | -328K | 0 | -177K | -640K | -18.76M |
| Net Change in Cash | -102.2M | -7.64M | 155.13M | -119.03M | 167.03M | -52.5M | 48.32M | -43.42M | 34.78M | -17.84M | 23.33M | -20.89M | 24.55M | 16.16M | 6.53M | -25.73M | 17.21M | -6.14M | -90.22M | -887.74M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 372.96M | 380.6M | 225.47M | 344.51M | 177.48M | 229.98M | 181.65M | 225.08M | 190.29M | 208.13M | 184.8M | 205.69M | 181.14M | 164.97M | 158.44M | 184.18M | 166.97M | 173.11M | 263.33M | 1.15B |
| Cash at End | 270.76M | 372.96M | 380.6M | 225.47M | 344.51M | 177.48M | 229.98M | 181.65M | 225.08M | 190.29M | 208.13M | 184.8M | 205.69M | 181.14M | 164.97M | 158.44M | 184.18M | 166.97M | 173.11M | 263.33M |
| Free Cash Flow | 35.52M | 50.2M | 153.59M | 55.34M | 88.49M | 54.87M | 100.05M | 64.49M | 61.09M | 49.38M | 107.4M | 48.66M | 80.73M | 52.52M | 169.57M | 49.98M | 65.44M | 74.73M | 98.61M | 60.81M |
| FCF Growth % | -59.86% | -8.51% | 53.51% | -14.19% | 44.84% | 11.12% | -6.84% | 32.55% | -24.32% | -5.98% | -36.66% | -2.65% | 23.36% | -29.72% | 71.96% | -17.81% | 25.33% | 25.16% | 22.48% | 193.43% |
| FCF / Revenue % | 14.63% | 19.09% | 60.64% | 22.15% | 35.51% | 20.05% | 45.43% | 29.92% | 29.26% | 20.69% | 49.23% | 22.91% | 37.57% | 23.01% | 80.48% | 24.49% | 30.28% | 32.58% | 46.48% | 28.22% |