For the year ending 2025-12-31, DOC had $353,397K increase in cash & cash equivalents over the period.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income (loss) | 101,027 | 267,303 | 334,757 | 516,424 |
| Depreciation and amortization of real estate, in-place lease, and other intangibles | 1,058,865 | 1,057,205 | 749,901 | 710,569 |
| Stock-based compensation amortization expense | 14,410 | 15,543 | 14,480 | 26,456 |
| Merger-related post-combination stock compensation expense | 0 | 16,223 | - | - |
| Amortization of deferred financing costs and debt discounts (premiums) | 31,907 | 28,974 | 11,916 | 10,881 |
| Straight-line rents | 39,190 | 41,276 | 14,387 | 49,183 |
| Amortization of above (below) market lease intangibles | -36,747 | - | - | - |
| Amortization of non-refundable entrance fees and above (below) market lease intangibles | - | -119,750 | -108,988 | -102,747 |
| Amortization of non-refundable entrance fees | -98,912 | - | - | - |
| Equity loss (income) from unconsolidated joint ventures | -173,984 | -1,515 | 10,204 | 2,049 |
| Distributions of earnings from unconsolidated joint ventures | 17,117 | 12,000 | 910 | 943 |
| Loss (gain) on sale of real estate under direct financing leases | - | 0 | 0 | 22,693 |
| Deferred income tax expense (benefit) | 3,845 | -1,693 | -14,605 | -6,001 |
| Impairments and loan loss reserves (recoveries), net | -893 | 22,978 | -5,601 | 7,004 |
| Loss (gain) on debt extinguishments | - | - | 0 | 0 |
| Loss (gain) on sales of real estate, net | 69,488 | 178,695 | 86,463 | 10,422 |
| Loss (gain) upon change of control, net | 0 | 77,548 | 234 | 311,438 |
| Casualty-related loss (recoveries), net | -621 | -29,076 | 3,085 | -7,168 |
| Other non-cash items | 10,332 | 6,133 | -4,900 | -6,489 |
| Decrease (increase) in accounts receivable and other assets | 16,267 | 40,860 | 21,566 | 17,433 |
| Increase (decrease) in accounts payable, accrued liabilities, and other liabilities | -25,285 | 85,635 | 104,511 | 136,293 |
| Increase (decrease) in deferred revenue | 147,297 | - | - | - |
| Net cash provided by (used in) operating activities | 1,251,959 | 1,070,497 | 956,242 | 900,261 |
| Acquisitions of real estate | 486,703 | 6,787 | 15,847 | 178,133 |
| Development, redevelopment, and other major improvements of real estate | 763,656 | 597,494 | 731,206 | 861,636 |
| Leasing costs, tenant improvements, and recurring capital expenditures | 133,951 | 115,784 | 113,596 | 108,510 |
| Proceeds from sales of real estate, net | 337,724 | 648,548 | 141,651 | 47,885 |
| Proceeds from the south san francisco jvs transaction, net | - | 0 | - | - |
| Proceeds from the callan ridge jv transaction, net | 0 | 125,662 | 0 | 125,985 |
| Acquisition of ccrc portfolio | - | - | - | 0 |
| Investments in unconsolidated joint ventures | 86,773 | 61,602 | 88,391 | 21,143 |
| Distributions in excess of earnings from unconsolidated joint ventures | 28,503 | 22,906 | 20,640 | 12,518 |
| Proceeds from insurance recovery | 20,043 | 8,711 | 24,980 | 1,450 |
| Proceeds from sales/principal repayments on loans receivable and other | 148,295 | 93,445 | 204,865 | 115,988 |
| Investments in loans receivable and other | 98,155 | 52,189 | 19,850 | 10,747 |
| Cash paid in connection with the merger, net | 0 | 179,215 | - | - |
| Net cash provided by (used in) investing activities | -1,034,673 | -113,799 | -576,754 | -876,343 |
| Borrowings under bank line of credit and commercial paper | 12,121,070 | 3,741,250 | 10,344,705 | 15,882,153 |
| Repayments under bank line of credit and commercial paper | 11,192,220 | 4,311,250 | 10,620,311 | 16,052,522 |
| Issuances and borrowings of term loans, senior unsecured notes, and mortgage debt | 987,260 | 750,000 | 743,778 | 500,000 |
| Repayments and repurchases of term loans, senior unsecured notes, and mortgage debt | 807,432 | 26,780 | 90,089 | 5,048 |
| Payments for deferred financing costs | 2,730 | 19,784 | 7,322 | 4,171 |
| Issuance of common stock, net of offering costs | 1,146 | 317 | 278 | 308,100 |
| Repurchase of common stock | 97,145 | 190,690 | 6,524 | 67,838 |
| Dividends paid on common stock | 849,095 | 794,783 | 657,021 | 648,047 |
| Distributions to and purchase of noncontrolling interests | 37,867 | 89,708 | 45,282 | 30,549 |
| Contributions from and issuance of noncontrolling interests | 13,124 | 12 | 489 | 1,390 |
| Net cash provided by (used in) financing activities | 136,111 | -941,416 | -337,299 | -116,532 |
| Effect of foreign exchanges on cash, cash equivalents and restricted cash | - | - | - | 0 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 353,397 | 15,282 | 42,189 | -92,614 |
| Cash and cash equivalents at beginning of period | 184,305 | 169,023 | 126,834 | 219,448 |
| Cash and cash equivalents at end of period | 537,702 | 184,305 | 169,023 | 126,834 |
HEALTHPEAK PROPERTIES, INC. (DOC)
HEALTHPEAK PROPERTIES, INC. (DOC)