SPG: the cash flow

MyFinsight

For the quarter ending 2026-03-31, SPG had -$280,192K decrease in cash & cash equivalents over the period. $624,982K in free cash flow.

Cash Flow Overview

Change in Cash
-$280,192K
Free Cash flow
$624,982K
Unit: Thousand (K) dollars
Positive Cash Flow Breakdown
Proceeds from issuance of debt, ...
Consolidated net income
Depreciation and amortization
Others
Negative Cash Flow Breakdown
Repayments of debt
Preferred dividends and distribu...
Accounts payable, accrued expens...
Others

Cash Flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30
Total revenue	-	1,791,462	1,601,571	1,498,460
Property operating	-	154,528	149,810	139,816
Real estate taxes	-	122,960	115,400	105,316
Repairs and maintenance	-	37,940	25,595	26,238
Advertising and promotion	-	46,615	38,645	36,309
Depreciation and amortization	-	420,675	338,639	339,058
Home and regional office costs	-	64,836	64,282	57,564
Other	-	35,118	40,196	35,654
General and administrative	-	17,870	16,091	14,298
Total segment operating expenses	-	397,161	369,646	343,333
Interest expense	-	272,326	242,789	232,725
Noi of consolidated entities	-	1,394,301	1,231,925	1,155,127
Income and other tax expense	-	-6,796	15,114	35,107
(loss) gain due to disposal, exchange, or revaluation of equity interests, net	-	-157,755	-8,871	104,499
Income from unconsolidated entities	-	206,938	143,916	122,875
Gain (loss) on acquisition of controlling interest, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net	-	2,886,666	10,398	-9,604
Other expense	-	251	0	9
Consolidated net income	568,535	3,539,883	702,696	643,681
Depreciation and amortization	532,591	456,317	374,744	367,638
Gain on acquisition of controlling interests, sale or disposal of, or recovery on, assets and interests in unconsolidated entities and impairment, net	64,339	2,886,666	10,398	-9,604
Loss due to disposal, exchange, or revaluation of equity interests, net	-6,379	-157,755	-8,871	104,499
Unrealized losses (gains) in fair value of publicly traded equity instruments and derivative instrument, net	-	-21,105	2,243	-50,455
Unrealized losses (gains) in fair value of publicly traded equity instruments and derivative instrument, net	25,388	-21,105	2,243	-50,455
Straight-line lease income	4,965	10,004	13,703	2,401
Equity in income of unconsolidated entities	-21,248	206,938	143,916	122,875
Distributions of income from unconsolidated entities	98,464	121,255	112,160	104,223
Tenant receivables and accrued revenue, net	-57,417	79,411	25,402	-9,951
Deferred costs and other assets	55,206	-62,354	117,554	-21,576
Accounts payable, accrued expenses, intangibles, deferred revenues and other	-301,358	28,091	5,005	237,979
Net cash provided by operating activities	833,378	1,203,741	890,260	1,215,332
Acquisitions	-	153,288	25,340	543,352
Repayments of loans to related parties	3,336	3,767	4,089	2,082
Capital expenditures, net	208,396	254,898	205,223	244,024
Cash impact from the consolidation of properties	-	39,949	713	38,886
Investments in unconsolidated entities	10,523	16,224	25,600	14,831
Purchase of equity instruments	970	1,679	30,520	3,631
Proceeds from sale of equity instruments	1,143	9,167	1,812	0
Distributions of capital from unconsolidated entities and other	108,951	11,199	129,795	54,313
Net cash used in investing activities	-106,459	-362,007	-150,274	-710,557
Proceeds from sales of common stock and other, net of transaction costs	82	82	82	82
Purchase of shares related to stock grant recipients' tax withholdings	2,397	0	4,072	8,252
Redemption of limited partner units	1,219	748	149	49
Purchase of treasury stock	175,284	226,826	-	-
Preferred unit redemptions	-	5,000	-	-
Distributions to noncontrolling interest holders in properties	5,824	17,703	2,622	1,151
Contributions from noncontrolling interest holders in properties	654	3,452	449	182
Preferred distributions of the operating partnership	198	292	291	292
Preferred dividends and distributions to stockholders	715,706	717,513	702,773	686,484
Distributions to limited partners	122,887	116,607	109,227	106,616
Proceeds from issuance of debt, net of transaction costs	1,812,650	596,000	1,503,856	711,957
Repayments of debt	1,796,818	1,085,845	1,103,935	562,559
Net cash used in financing activities	-1,007,111	-1,571,164	-418,846	-653,346
Decrease in cash and cash equivalents	-280,192	-729,430	321,140	-148,571
Cash and cash equivalents, beginning of period	823,147	1,552,577	1,231,437	1,380,008
Cash and cash equivalents, end of period	542,955	823,147	1,552,577	1,231,437

Unit: Thousand (K) dollars (except for numbers of shares and EPS). Numbers labeled with * are estimated quarterly values.

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Cash Flow Overview

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Cash Flow

Cash Flow Overview

Time Plot

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Cash Flow