For the year ending 2025-12-31, ESS had $9,740K increase in cash & cash equivalents over the period.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 702,773 | 811,306 | 430,708 | 432,985 |
| Straight-lined rents | 1,115 | -34 | -2,773 | -3,330 |
| Depreciation and amortization | 607,542 | 580,220 | 548,438 | 539,319 |
| Amortization of discount on marketable securities | - | - | - | 0 |
| Amortization of discount and debt financing costs, net | 7,162 | 7,795 | 6,911 | 6,712 |
| Gain on sale of marketable securities | - | - | - | 12,436 |
| Realized and unrealized (gains) losses on marketable securities, net | - | 8,347 | 10,006 | - |
| Income from early redemption of notes receivable | - | 0 | 0 | 811 |
| Realized and unrealized gains on marketable securities, net | 3,809 | - | - | - |
| Provision for credit losses | 26 | -179 | 70 | 381 |
| Unrealized losses (gains) on equity securities recognized through income | - | - | - | -57,983 |
| Companys share of gain on the sales of co-investment | 5,189 | - | - | 0 |
| Equity income from co-investments | 30,275 | 48,206 | 10,561 | 26,030 |
| Operating distributions from co-investments | 93,010 | 62,868 | 76,787 | 95,256 |
| Accrued interest from notes and other receivables | 9,201 | 13,497 | 12,631 | 13,953 |
| Impairment loss | - | - | - | 0 |
| Casualty loss | 0 | 0 | 433 | - |
| Gain on the sale of real estate and land | 299,524 | 175,583 | 59,238 | 94,416 |
| Equity-based compensation | 9,640 | 7,158 | 8,031 | 7,206 |
| Loss on early retirement of debt | -762 | 0 | 0 | -2 |
| Gain on remeasurement of co-investment | 330 | 210,555 | 0 | 17,423 |
| Prepaid expenses, receivables, operating lease right-of-use assets, and other assets | 2,002 | -32,007 | 9,721 | -5,183 |
| Accounts payable, accrued liabilities, and operating lease liabilities | 7,217 | 25,194 | 5,335 | -17,266 |
| Other liabilities | -2,264 | -1,910 | 2,735 | 9,627 |
| Net cash provided by operating activities | 1,074,423 | 1,068,305 | 980,064 | 975,649 |
| Acquisitions of real estate and acquisition related capital expenditures, net of cash acquired | 831,661 | 940,440 | 25,098 | 21,870 |
| Redevelopment | 81,619 | 70,572 | 72,577 | 96,718 |
| Development acquisitions of and additions to real estate under development | 61,878 | 2,874 | 7,872 | 27,713 |
| Capital expenditures on rental properties | 140,348 | 136,395 | 140,371 | 163,193 |
| Investments in notes receivable | 169,644 | 130,635 | 58,127 | 168,095 |
| Collections of notes and other receivables | 84,801 | 33,504 | 0 | 412,006 |
| Proceeds from insurance for property losses | 3,522 | 2,299 | 3,431 | 4,325 |
| Proceeds from dispositions of real estate | 509,946 | 247,286 | 99,388 | 157,985 |
| Contributions to co-investments | 33,752 | 34,073 | 37,405 | 163,188 |
| Changes in refundable deposits | 8,000 | -8,000 | 10,200 | -16,318 |
| Purchases of marketable securities | 25,515 | 1,002 | 20,780 | 18,109 |
| Sales and maturities of marketable securities | -1,264 | -27,348 | -64,320 | -71,222 |
| Non-operating distributions from co-investments | 184,401 | 40,503 | 39,751 | 175,624 |
| Net cash used in investing activities | -552,483 | -973,051 | -145,140 | 145,958 |
| Proceeds from unsecured debt and mortgage notes | 1,148,242 | 554,875 | 598,000 | 0 |
| Payments on unsecured debt and mortgage notes | 808,611 | 403,108 | 302,429 | 64,542 |
| Proceeds from lines of credit | - | 1,667,476 | 844,046 | 1,376,452 |
| Proceeds from lines of credit and commercial paper | 7,935,548 | - | - | - |
| Repayments of lines of credit | - | 1,529,531 | 896,119 | 1,665,636 |
| Repayments of lines of credit and commercial paper | 8,073,493 | - | - | - |
| Retirement of common stock | 0 | 0 | 95,657 | 189,726 |
| Additions to deferred charges | 13,394 | 9,568 | 1,736 | 2,638 |
| Payments related to debt prepayment penalties | 697 | - | 0 | 0 |
| Net costs from issuance of common stock | -391 | -296 | -347 | -314 |
| Net proceeds from stock options exercised | 8,930 | 12,313 | 0 | 19,525 |
| Payments related to tax withholding for share-based compensation | 8,114 | 3,217 | 3,825 | 2,216 |
| Contributions from noncontrolling interest | - | 0 | 0 | 125 |
| Distributions to noncontrolling interest | 32,677 | 81,246 | 31,619 | 30,740 |
| Redemptions of noncontrolling interest | 13,475 | 6,453 | 609 | 11,452 |
| Redemptions of redeemable noncontrolling interest | 0 | 521 | 0 | 478 |
| Common stock dividends paid | 654,068 | 620,466 | 586,976 | 565,924 |
| Net cash used in financing activities | -512,200 | -419,742 | -477,271 | -1,137,564 |
| Net increase (decrease) in unrestricted and restricted cash and cash equivalents | 9,740 | -324,488 | 357,653 | -15,957 |
| Unrestricted and restricted cash and cash equivalents at beginning of year | 75,846 | 400,334 | 42,681 | 58,638 |
| Unrestricted and restricted cash and cash equivalents at end of year | 85,586 | 75,846 | 400,334 | 42,681 |
ESSEX PROPERTY TRUST, INC. (ESS)
ESSEX PROPERTY TRUST, INC. (ESS)