For the year ending 2025-12-31, SPG-PJ had -$577,198K decrease in cash & cash equivalents over the period. $3,202,205K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Total revenue | 6,364,505 | 5,963,798 | - | - |
| Property operating | 580,975 | - | - | - |
| Real estate taxes | 451,128 | - | - | - |
| Repairs and maintenance | 119,915 | - | - | - |
| Advertising and promotion | 155,826 | - | - | - |
| Other | 141,946 | - | - | - |
| Total segment operating expenses | 1,449,790 | 1,336,824 | - | - |
| Noi of consolidated entities | 4,914,715 | 4,626,974 | - | - |
| Unrealized losses in fair value of publicly traded equity instruments and derivative instrument, net | - | -17,392 | - | - |
| Income from unconsolidated entities | 504,088 | 207,322 | - | - |
| Gain (loss) on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net | 2,887,460 | -75,818 | - | - |
| Depreciation and amortization | 1,426,423 | 1,265,340 | - | - |
| Home and regional office costs | 251,748 | 223,277 | - | - |
| General and administrative | 60,888 | 44,743 | - | - |
| Interest expense | 974,835 | 905,797 | - | - |
| Income and other tax expense | 35,788 | 23,262 | - | - |
| (loss) gain due to disposal, exchange, or revaluation of equity interests, net | -86,119 | 451,172 | - | - |
| Unrealized gains (losses) in fair value of publicly traded equity instruments and derivative instrument, net | -106,082 | - | - | - |
| Other expense | 260 | 818 | - | - |
| Consolidated net income | 5,364,120 | 2,729,021 | 2,617,018 | 2,452,385 |
| Depreciation and amortization | 1,554,346 | 1,359,861 | 1,333,584 | 1,292,113 |
| (gain) loss on acquisition of controlling interests, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net | 2,887,460 | -75,818 | -3,056 | 5,647 |
| Loss (gain) due to disposal, exchange, or revaluation of equity interests, net | -86,119 | 451,172 | 362,019 | 121,177 |
| Unrealized losses (gains) in fair value of publicly traded equity instruments and derivative instrument, net | -106,082 | -17,392 | 11,892 | -61,204 |
| Straight-line lease (income) loss | 27,790 | -802 | -9,866 | -25,234 |
| Equity in income of unconsolidated entities | 504,088 | 207,322 | 375,663 | 647,977 |
| Distributions of income from unconsolidated entities | 445,901 | 362,734 | 458,709 | 561,583 |
| Tenant receivables and accrued revenue, net | 59,769 | -36,161 | 11,802 | -63,350 |
| Deferred costs and other assets | -14,565 | 235,884 | -24,423 | 104,567 |
| Accounts payable, accrued expenses, intangibles, deferred revenues and other | 44,525 | 127,244 | 245,513 | 190,103 |
| Net cash provided by operating activities | 4,136,551 | 3,814,655 | 3,930,793 | 3,766,604 |
| Acquisitions | 1,114,368 | 56,105 | 65,829 | 203,364 |
| Funding of loans to related parties | - | 111,000 | 15,250 | 132,857 |
| Repayments of loans to related parties | 16,956 | 82,289 | 16,188 | 82,371 |
| Capital expenditures, net | 934,346 | 755,584 | 793,283 | 650,024 |
| Cash impact from the consolidation of properties | 104,829 | 46,228 | - | 20,988 |
| Net proceeds from sale of assets | - | 55,203 | - | 59,658 |
| Investments in unconsolidated entities | 62,418 | 112,655 | 83,961 | 235,792 |
| Purchase of short-term investments | - | 600,000 | 1,000,000 | - |
| Proceeds from redemption of short-term investments | - | 1,600,000 | - | - |
| Purchase of equity instruments | 48,704 | 241,186 | 31,742 | 66,140 |
| Proceeds from sale of equity instruments | 96,194 | 1,183,528 | 304,129 | 26,086 |
| Insurance proceeds for property restoration | - | 4,587 | 7,427 | - |
| Distributions of capital from unconsolidated entities and other | 341,153 | 313,016 | 299,140 | 472,510 |
| Net cash (used in) provided by investing activities | -1,600,704 | 1,408,321 | -1,363,181 | -626,564 |
| Proceeds from sales of common stock and other, net of transaction costs | 328 | 328 | 328 | 328 |
| Purchase of shares related to stock grant recipients' tax withholdings | 13,912 | 10,558 | 5,795 | 6,788 |
| Redemption of limited partner units | 7,281 | 42,293 | 13,524 | 1,852 |
| Purchase of treasury stock | 226,826 | - | 140,593 | 180,387 |
| Proceeds from (establishment of) trust account for special purpose acquisition company | - | - | - | -345,000 |
| Liquidation of special purpose acquisition company | - | - | - | 345,000 |
| Preferred unit redemptions | 5,000 | 7,500 | 2,500 | - |
| Distributions to noncontrolling interest holders in properties | 23,404 | 21,049 | 41,956 | 27,741 |
| Contributions from noncontrolling interest holders in properties | 6,705 | 9,807 | 9,813 | 29,681 |
| Preferred distributions of the operating partnership | 1,166 | 1,560 | 1,900 | 1,915 |
| Preferred dividends and distributions to stockholders | 2,792,872 | 2,645,213 | 2,439,233 | 2,264,007 |
| Distributions to limited partners | 439,384 | 399,186 | 355,548 | 326,550 |
| Proceeds from issuance of debt, net of transaction costs | 3,668,892 | 1,095,546 | 3,629,840 | 3,449,403 |
| Repayments of debt | 3,278,469 | 2,969,288 | 2,658,525 | 3,721,864 |
| Net cash used in financing activities | -3,113,045 | -4,991,622 | -2,020,249 | -3,052,348 |
| (decrease) increase in cash and cash equivalents | -577,198 | 231,354 | 547,363 | 87,692 |
| Cash and cash equivalents, beginning of period | 1,400,345 | 1,168,991 | 621,628 | 533,936 |
| Cash and cash equivalents, end of period | 823,147 | 1,400,345 | 1,168,991 | 621,628 |
SIMON PROPERTY GROUP INC. (SPG-PJ)
SIMON PROPERTY GROUP INC. (SPG-PJ)