Macerich co (MAC)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08
Cash flows from operating activities:
Net income

102,554

68,972

161,673

554,839

522,912

1,606,931

448,959

366,389

169,075

28,420

139,250

195,015

Adjustments to reconcile net income to net cash provided by operating activities:
Loss on extinguishment of debt, net

-351

0

0

1,709

1,487

-526

1,432

0

-1,485

-3,661

-29,161

84,143

Loss on sale or write down of assets, net

-11,909

-31,825

42,446

415,348

378,248

73,440

-78,057

28,734

-22,037

497

161,937

-29,574

Gain on remeasurement of assets

-

-

-

-

22,089

1,423,136

51,205

199,956

-

-

-

-

Gain on disposition of assets, net from discontinued operations

-

-

-

-

-

-

286,414

50,811

-58,333

-23

-40,171

98,288

Depreciation and amortization

337,667

334,682

341,275

355,358

471,320

387,785

383,002

322,720

282,643

260,252

277,472

287,917

Amortization of premium on mortgage notes payable

-929

-929

-3,277

-4,048

-20,232

-8,906

-6,822

-1,600

9,060

2,940

670

4,931

Amortization of share and unit-based plans

12,032

27,367

30,799

33,288

28,367

29,463

24,207

12,324

12,288

14,832

8,095

11,650

Straight-line rent and amortization of above and below market leases

-14,009

-13,701

-9,561

-

-

-

-

-

-

-

-

-

Straight-line rent adjustment

-

-

-

-5,237

-7,192

-5,825

-7,987

-6,698

-5,398

-

-

-

Amortization of above and below-market leases

-

-

-

-12,815

-16,510

-9,083

-6,726

-5,405

-9,723

-

-

-

Provision for doubtful accounts

7,682

4,663

4,314

3,586

4,698

3,962

4,150

3,329

3,212

4,361

9,570

4,558

Income tax (benefit) expense

1,589

-3,604

15,594

722

-3,223

-4,269

-1,692

-4,159

-6,110

-9,202

-4,761

1,126

Equity in income of unconsolidated joint ventures

48,508

71,773

85,546

56,941

45,164

60,626

167,580

79,281

294,677

79,529

68,160

93,831

Co-venture expense

0

0

-13,629

-13,382

-11,804

-9,490

-8,864

-6,523

-5,806

-6,193

-2,262

-

Distributions of income from unconsolidated joint ventures

934

1,959

463

7,248

4,541

2,412

8,538

29,147

12,778

20,634

12,252

24,096

Change in fair value of financing arrangement obligation

76,640

15,225

0

0

-

-

-

-

-

-

-

-

Changes in assets and liabilities, net of dispositions:
Tenant and other receivables

9,929

13,912

6,508

7,585

-1,908

12,356

5,482

2,554

2,651

-9,933

7,794

-24,228

Other assets

9,553

-8,439

4,414

20,033

-13,892

15,594

-7,761

17,094

8,081

25,529

-5,982

22,603

Due from affiliates

-13,894

3,019

13,982

-15,983

7,025

1,770

-266

1,181

-3,106

565

-3,090

3,395

Accounts payable and accrued expenses

-237

-2,159

-5,822

-8,929

-4,014

-123

-747

13,430

-11,797

-8,588

-67,150

15,766

Other accrued liabilities

26,350

-9,274

-9,802

-22,227

698

-24,735

-5,682

-5,093

-4,101

-19,582

-38,961

-44,654

Net cash provided by operating activities

355,157

344,311

386,389

429,534

554,956

400,706

422,035

351,296

237,285

200,435

120,890

251,947

Cash flows from investing activities:
Development, redevelopment, expansion and renovation of properties

166,791

181,089

160,343

211,616

272,334

185,412

158,682

142,210

58,932

137,803

197,483

535,263

Acquisition of properties

-

-

-

-

26,250

15,233

516,239

1,061,851

125,105

-

-

-

Property improvements

21,114

56,142

41,807

47,863

53,335

66,718

51,683

45,654

62,974

47,986

-

-

Cash acquired from acquisitions

-

-

-

-

-

28,890

0

0

-

-

-

-

Redemption of redeemable non-controlling interests

-

-

-

-

-

-

-

-

11,366

9,225

2,736

18,794

Proceeds from repayment of notes receivable

68,819

1,043

7,073

3,677

1,833

4,825

8,347

0

0

11,763

-

-

Issuance of notes receivable

-

-

-

-

-

65,130

13,330

12,500

0

-

-

-

Proceeds from maturities of marketable securities

-

-

-

-

-

-

23,769

1,378

1,362

1,316

1,283

1,436

Deposit on acquisition of property

-

-

-

-

12,500

0

0

30,000

0

-

-

-

Deferred leasing costs

11,906

28,769

31,655

28,074

33,902

28,019

27,669

30,614

33,955

30,297

27,985

38,095

Distributions from unconsolidated joint ventures

266,349

536,643

267,964

444,095

105,640

78,222

618,048

322,242

215,651

117,342

169,192

141,773

Contributions to unconsolidated joint ventures

252,903

181,239

117,538

430,428

426,186

336,621

97,898

95,358

155,351

16,688

50,404

161,070

Collections of loans to unconsolidated joint ventures, net

-

-

-

-

-

2,756

589

650

-900

-779

-1,384

-328

Proceeds from sale of assets

5,520

85,876

255,294

724,275

646,898

320,123

416,077

136,707

16,960

-

417,450

47,163

Restricted cash

-

-

-

-

30,888

-6,526

-70,538

6,164

-2,524

29,815

5,577

-4,222

Net cash used in investing activities

-112,026

176,323

178,988

454,066

-101,024

-255,791

271,867

-963,374

-212,086

-142,172

302,356

-558,956

Cash flows from financing activities:
Proceeds from mortgages, bank and other notes payable

1,796,000

415,000

1,430,000

3,201,138

4,080,671

1,204,946

2,572,764

3,193,451

757,000

927,514

425,703

1,732,940

Payments on mortgages, bank and other notes payable

1,567,089

469,814

1,219,728

2,437,891

3,284,213

853,080

3,051,072

2,371,890

627,369

1,568,161

1,229,081

1,051,292

Repurchase of convertible senior notes

-

-

-

-

-

-

-

-

180,314

18,191

55,029

105,898

Deferred financing costs

7,759

275

8,500

10,584

11,805

1,267

11,966

15,108

18,976

10,856

6,506

11,898

Payment of finance deposits, net of refunds received

0

6,542

0

0

11,138

0

0

-

-

-

-

-

Payment on finance arrangement obligation

27,945

0

0

-

-

-

-

-

-

-

-

-

Payments on finance leases

1,472

-

-

-

-

-

-

-

-

-

-

-

Payment of debt extinguishment costs

-

-

-

14,419

14,579

-

-

-

-

-

-

-

Proceeds from share and unit-based plans

1,519

1,570

1,868

1,697

1,512

1,231

1,188

1,263

1,032

902

715

9,284

Proceeds from stock offerings

-

-

-

-

-

-

173,011

177,896

0

1,220,829

383,450

-

Payment of stock issuance costs

-

-

-

-

-

5,503

1,909

2,247

-

-

-

-

Stock repurchases

0

0

221,428

800,018

400,144

0

0

-

-

-

-

-

Exercise of stock warrants

-

-

-

-

-

-

-

7,371

-1,278

-17,639

-

-

Net proceeds from issuance of stock warrants to purchase common stock

-

-

-

-

-

-

-

-

-

-

-14,503

-

Redemption of noncontrolling interests

67

759

920

30

456

236

1,066

86

42

341

397

-

Contribution from noncontrolling interests

3,131

16

30

90

23

0

4,140

379

4,204

-

-

-

Purchase of noncontrolling interest

-

-

-

-

-1,593

-55,867

0

0

-

-

-

-

Settlement of contingent consideration

-

-

-

10,012

0

18,667

0

0

-

-

-

-

Contribution from co-venture partner

-

-

-

-

-

-

-

-

-

-

168,154

-

Dividends and distributions

474,534

453,634

443,839

779,308

787,109

385,725

355,506

326,185

296,948

225,958

95,665

274,634

Distributions to co-venture partner

0

0

103,752

18,165

23,498

15,555

19,564

39,479

40,905

13,972

-2,367

-

Dividends to preferred stockholders / preferred unit holders

-

-

-

-

-

-

-

-

-

-

-

10,237

Net cash provided by (used in) financing activities

-278,216

-514,438

-566,269

-867,502

-452,329

-129,723

-689,980

610,623

-403,596

294,127

-396,520

288,265

Net increase in cash, cash equivalents and restricted cash

-35,085

6,196

-892

16,098

1,603

15,192

3,922

-1,455

-378,397

352,390

26,726

-18,744

Supplemental cash flow information:
Cash payments for interest, net of amounts capitalized

210,026

192,254

168,493

153,838

231,106

186,877

195,129

174,089

175,902

211,830

258,151

263,199

Non-cash investing and financing transactions:
Accrued development costs included in accounts payable and accrued expenses and other accrued liabilities

32,452

50,006

43,726

49,484

52,983

83,108

41,334

26,322

13,291

45,224

30,799

64,473

Acquisition of property by issuance of common stock

-

-

-

-

-

1,166,777

0

30,000

-

-

-

-

Deposits contributed to unconsolidated joint ventures and the purchase of properties

-

-

-

-

-

-

-

-

-

-

-

50,103

Conversion of Operating Partnership Units to common stock

1,005

75

16,797

12,448

1,559

2,410

12,984

26,991

21,698

-

-

-

Lease liabilities recorded in connection with right-of-use assets

109,299

-

-

-

-

-

-

-

-

-

-

-

Acquisition of properties by assumption of mortgage note payable and other accrued liabilities

-

-

-

-

-

1,414,659

257,064

420,123

192,566

-

-

-

Mortgage notes payable settled by deed-in-lieu of foreclosure

-

-

-

37,000

34,149

0

84,000

185,000

38,968

-

-

-

Mortgage notes payable assumed by buyers in sales of properties

-

-

-

-

-

31,725

224,737

0

0

-

-

-

Mortgage notes payable assumed by buyer in exchange for investment in unconsolidated joint venture

0

139,249

0

997,695

1,782,455

0

0

-

-

-

-

-

Note receivable issued in connection with sale of property

-

-

-

-

-

9,603

0

0

-

-

-

-

Acquisition of property in exchange for settlement of notes receivable

-

-

-

-

-

14,120

0

0

-

-

-

-

Acquisition of property in exchange for investment in unconsolidated joint venture

-

-

-

-

76,250

15,767

0

0

-

-

-

-

Contingent consideration in acquisition of property

-

-

-

-

-

10,012

0

0

-

-

-

-

Assumption of mortgage notes payable and other liabilities from unconsolidated joint ventures

-

-

-

-

50,000

0

54,271

0

240,537

-

-

-

Application of deposit to acquire property

-

-

-

-

-

-

30,000

0

0

-

-

-

Property distributed from unconsolidated joint venture

-

-

-

-

-

-

-

-

445,004

-

-

-

Contribution of development rights from noncontrolling interests

-

-

-

-

-

-

-

-

74,717

-

-

-

Disposition of property in exchange for investments in unconsolidated joint ventures

0

25,177

0

-

-

-

-

-

56,952

-

-

-

Conversion of Series A cumulative convertible preferred stock to common stock

-

-

-

-

-

-

-

-

-

-

-

83,495

Stock dividend

-

-

-

-

-

-

-

-

-

43,086

121,116

-

Retirement of tax indemnity escrow held for nonparticipating unitholders

-

-

-

-

-

-

-

-

-

-

22,904

-