MACERICH CO MAC Cash Flow

Macerich co (MAC)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities:
Net income
102,442	102,554	86,061	117,277	112,196	68,972	94,310	32,297	52,483	161,673	163,923	157,891	178,273	554,839	958,190	981,308	947,620	522,912	1,609,285	1,611,715	1,613,954	1,606,931	227,162	229,243	446,073	448,959	484,465	490,915	400,642	366,389	355,734	322,714	157,261	169,075	19,193	14,406	35,372	28,420	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Loss on extinguishment of debt, net
0	-351	-351	-351	-351	0	0	0	0	-	-	-	-	1,709	2,587	-2,724	-4,333	1,487	488	468	2,077	-526	-911	-869	1,074	1,432	0	0	0	-	-	-	-	-1,485	0	0	0	-	-	-	-
Loss on sale or write down of assets, net
-42,296	-11,909	-46,817	-170	-629	-31,825	4,698	-53,672	-44,631	42,446	26,532	19,065	30,457	415,348	811,376	827,355	811,769	378,248	67,866	80,769	75,986	73,440	-91,840	-93,152	-84,496	-78,057	1,075	14,795	14,065	28,734	13,773	-7,156	-4,340	-22,037	0	0	0	-	-	-	-
Gain on remeasurement of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22,089	1,445,225	1,445,225	1,445,239	1,423,136	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on disposition of assets, net from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	286,414	109,385	116,895	106,385	50,811	54,886	55,486	-111,664	-58,333	0	0	0	-	-	-	-
Depreciation and amortization
338,261	337,667	340,590	339,635	336,391	334,682	333,520	334,477	338,248	341,275	345,637	349,484	351,733	355,358	372,153	402,884	437,078	471,320	476,701	450,937	419,634	387,785	370,834	371,945	378,106	383,002	374,243	357,308	337,183	322,720	308,221	302,134	295,642	282,643	277,366	272,336	266,349	260,252	0	0	0
Amortization of premium on mortgage notes payable
-924	-929	-929	-930	-928	-929	-1,174	-1,880	-2,586	-3,277	-3,765	-3,845	-3,924	-4,048	-5,423	-9,913	-14,379	-20,232	-22,741	-18,584	-14,457	-8,906	-5,376	-5,062	-5,733	-6,822	-7,763	-7,001	-5,463	-1,600	2,728	5,424	8,235	9,060	8,430	6,721	4,771	2,940	0	0	0
Amortization of share and unit-based plans
10,737	12,032	14,478	15,710	21,883	27,367	28,284	30,237	27,997	30,799	30,804	30,932	30,653	33,288	32,381	31,168	30,339	28,367	27,875	27,831	27,426	29,463	35,511	36,266	37,012	24,207	17,287	15,594	13,226	12,324	11,810	11,224	12,715	12,288	13,056	14,440	14,399	14,832	0	0	0
Straight-line rent and amortization of above and below market leases
-11,602	-14,009	-14,724	-13,952	-13,820	-13,701	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Straight-line rent adjustment
-	-	-	-	-	-	-	-	-	-	-9,290	-7,278	-6,211	-5,237	-6,129	-8,032	-7,716	-7,192	-5,897	-4,390	-4,720	-5,825	-6,226	-7,234	-7,917	-7,987	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of above and below-market leases
-	-	-	-	-	-	-	-	-	-	-4,108	-9,719	-10,979	-12,815	-11,720	-10,904	-13,487	-16,510	-17,258	-16,148	-12,252	-9,083	-7,711	-6,403	-6,599	-6,726	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Provision for doubtful accounts
6,769	7,682	7,643	5,897	5,135	4,663	4,295	3,555	4,350	4,314	4,932	4,653	3,985	3,586	3,392	3,833	4,287	4,698	4,276	3,688	4,920	3,962	4,371	4,997	3,766	4,150	4,360	4,330	3,264	3,329	3,037	3,277	3,633	3,212	3,309	3,449	3,078	4,361	0	0	0
Income tax (benefit) expense
977	1,589	-102	-314	-309	-3,604	13,973	16,376	16,129	15,594	-2,192	-4,156	-4,079	722	1,590	-174	-971	-3,223	-2,587	-2,417	-5,032	-4,269	-3,188	-3,041	-1,621	-1,692	-4,263	-4,655	-6,252	-4,159	-2,458	-3,089	-1,782	-6,110	-9,761	-10,858	-10,465	-9,202	0	0	0
Equity in income of unconsolidated joint ventures
45,963	48,508	54,525	58,732	67,144	71,773	80,104	85,308	86,575	85,546	76,176	63,444	61,124	56,941	54,516	54,072	48,550	45,164	44,204	50,322	55,131	60,626	66,710	84,936	163,234	167,580	156,134	140,288	66,778	79,281	287,780	288,504	295,020	294,677	103,142	102,790	93,345	79,529	0	0	0
Co-venture expense
-	-	-	-	-	-	-	-	-	-13,629	-15,025	-14,881	-13,970	-13,382	-13,414	-13,362	-12,963	-11,804	-11,212	-10,401	-9,800	-9,490	-8,807	-8,717	-8,643	-8,864	-8,293	-8,307	-7,472	-6,523	-6,489	-5,703	-5,602	-5,806	-6,326	-5,314	-6,105	-6,193	0	0	0
Distributions of income from unconsolidated joint ventures
816	934	1,139	1,750	1,922	1,959	2,127	1,132	618	463	1,641	2,765	5,213	7,248	7,448	9,024	6,576	4,541	0	0	0	-	-	-	-	8,538	23,003	29,283	33,241	29,147	16,487	14,923	14,543	12,778	20,539	21,856	19,731	20,634	0	0	0
Change in fair value of financing arrangement obligation
110,759	76,640	76,923	42,361	33,872	15,225	9,279	4,386	-4,382	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in assets and liabilities, net of dispositions:
Tenant and other receivables
15,123	9,929	11,808	17,502	8,744	13,912	4,767	-1,967	3,566	6,508	9,117	6,245	3,514	7,585	3,101	5,022	11,242	-1,908	3,561	12,331	3,337	12,356	11,212	3,140	1,447	5,482	-3,096	3,630	15,677	2,554	2,627	-1,949	-12,569	2,651	10,888	7,572	-8,970	-9,933	0	0	0
Other assets
17,800	9,553	-5,238	-4,447	-6,250	-8,439	9,014	9,436	5,559	4,414	2,190	1,757	-2,328	20,033	-2,560	-2,296	161	-13,892	3,351	20,415	9,748	15,594	6,338	2,526	2,867	-7,761	33,120	10,546	6,062	17,094	-17,691	-2,014	498	8,081	-9,102	17,190	18,396	25,529	0	0	0
Due from affiliates
-3,980	-13,894	-12,913	-7,140	-4,641	3,019	6,486	1,730	4,479	13,982	11,750	1,712	7,155	-15,983	-5,948	4,920	-3,448	7,025	-1,276	485	2,693	1,770	-877	-1,555	-2,638	-266	-1,126	1,345	376	1,181	3,341	-1,591	-3,575	-3,106	-314	-339	2,826	565	0	0	0
Accounts payable and accrued expenses
6,985	-237	4,254	-5,469	-6,683	-2,159	-10,393	425	3,132	-5,822	8,793	4,472	1,522	-8,929	-13,243	-27,173	-28,498	-4,014	1,867	22,718	10,146	-123	-10,322	-12,179	-7,771	-747	7,513	4,939	26,654	13,430	-8,832	-3,406	-12,837	-11,797	11,513	7,647	-17,358	-8,588	0	0	0
Other accrued liabilities
-5,075	26,350	8,654	-8,578	-9,715	-9,274	-6,298	-4,879	-9,903	-9,802	-27,338	-42,521	-42,581	-22,227	-16,589	2,752	2,810	698	-6,089	5,042	7,305	-24,735	-30,557	2,611	-12,455	-5,682	37,270	-1,141	-12,762	-5,093	-21,752	-21,832	-23,947	-4,101	-22,939	-21,512	-35,722	-19,582	0	0	0
Net cash provided by operating activities
306,017	355,157	369,127	344,539	348,183	344,311	333,700	361,012	378,653	386,389	398,297	400,052	412,369	429,534	472,392	501,786	512,695	554,956	517,451	483,013	464,925	400,706	390,085	429,820	412,403	422,035	423,973	389,485	372,618	351,296	312,979	292,023	281,958	237,285	254,095	217,509	177,066	200,435	0	0	0
Cash flows from investing activities:
Development, redevelopment, expansion and renovation of properties
164,941	166,791	152,669	138,535	160,103	181,089	202,910	198,592	176,572	160,343	149,243	164,654	183,734	211,616	216,980	247,687	243,072	272,334	264,147	235,167	245,991	185,412	129,750	154,157	151,519	158,682	216,609	169,457	163,846	142,210	79,930	27,399	38,042	58,932	71,445	162,694	106,607	137,803	0	0	0
Acquisition of properties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26,250	26,250	26,250	41,483	15,233	38,895	38,895	46,239	516,239	1,483,503	1,483,503	1,460,926	1,061,851	0	0	0	-	-	-	-	-	-	-	-
Property improvements
14,132	21,114	44,398	56,726	60,001	56,142	40,240	42,478	42,425	41,807	57,650	50,346	46,902	47,863	43,432	50,751	54,791	53,335	68,884	68,972	65,781	66,718	62,306	55,231	45,574	51,683	42,560	53,577	55,368	45,654	0	0	0	-	-	-	-	-	-	-	-
Proceeds from repayment of notes receivable
3,471	68,819	66,005	65,994	66,189	1,043	7,274	7,072	7,063	7,073	944	1,135	2,957	3,677	3,826	4,085	2,313	1,833	3,024	5,734	5,277	4,825	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issuance of notes receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,330	13,330	13,330	13,330	12,500	0	0	0	-	-	-	-	-	-	-	-
Proceeds from maturities of marketable securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23,769	24,359	1,378	1,378	1,378	0	0	0	-	-	-	-	-	-	-	-
Deferred leasing costs
4,039	11,906	15,862	19,976	24,233	28,769	30,402	30,425	33,772	31,655	31,793	32,929	31,982	28,074	30,431	30,472	31,493	33,902	33,414	32,375	31,322	28,019	25,297	24,672	23,249	27,669	31,513	33,081	32,776	30,614	28,195	29,463	32,272	33,955	34,056	30,886	31,432	30,297	0	0	0
Distributions from unconsolidated joint ventures
246,603	266,349	231,118	179,926	159,749	536,643	583,148	545,297	571,769	267,964	258,842	305,877	376,723	444,095	450,402	368,266	274,444	105,640	89,177	91,166	69,099	78,222	77,067	431,328	535,559	618,048	701,518	470,822	402,253	322,242	239,195	226,427	202,454	215,651	226,395	117,539	123,006	117,342	0	0	0
Contributions to unconsolidated joint ventures
223,680	252,903	151,547	203,210	203,342	181,239	216,266	141,252	131,935	117,538	106,477	98,821	106,353	430,428	493,663	496,729	743,570	426,186	415,464	540,672	341,339	336,621	289,089	163,598	100,330	97,898	114,617	97,056	113,484	95,358	53,023	54,163	99,520	155,351	152,521	150,671	75,215	16,688	0	0	0
Collections of loans to unconsolidated joint ventures, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,756	-625	-647	-8	589	598	654	-66	650	-1,105	-672	-562	-900	4,743	2,761	-33	-779	0	0	0
Proceeds from sale of assets
4,505	5,520	4,092	59,828	85,441	85,876	169,852	114,726	89,095	255,294	196,030	196,182	291,259	724,275	1,331,959	1,341,182	1,246,123	646,898	280,428	296,149	297,049	320,123	140,368	126,432	434,532	416,077	333,075	321,121	119,586	136,707	141,396	142,730	35,355	16,960	0	0	0	-	-	-	-
Restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	44,320	33,514	30,043	30,888	-3,258	-4,119	-3,797	-6,526	-20,368	-65,560	-71,043	-70,538	-43,842	5,526	1,924	6,164	-6,289	-19,305	-4,239	-2,524	-7,789	39,982	33,568	29,815	0	0	0
Net cash used in investing activities
-152,213	-112,026	-63,261	-112,699	-136,300	176,323	270,456	254,348	283,223	178,988	124,631	160,057	302,817	454,066	944,861	841,880	407,411	-101,024	-465,151	-539,112	-383,560	-255,791	-304,990	217,547	706,232	271,867	-820,393	-1,091,555	-1,348,503	-963,374	63,907	-7,124	-210,230	-212,086	-214,235	-315,663	-163,910	-142,172	0	0	0
Cash flows from financing activities:
Proceeds from mortgages, bank and other notes payable
2,031,000	1,796,000	1,196,000	1,196,000	720,000	415,000	1,215,000	1,325,000	1,350,000	1,430,000	995,000	905,000	1,275,000	3,201,138	4,996,138	5,111,135	5,391,138	4,080,671	2,424,650	2,468,965	1,886,635	1,204,946	913,878	780,916	971,623	2,572,764	3,852,419	4,051,069	4,172,689	3,193,451	1,905,885	1,720,885	1,385,885	757,000	747,287	849,374	855,566	927,514	0	0	0
Payments on mortgages, bank and other notes payable
1,178,407	1,567,089	1,028,203	914,036	479,529	469,814	1,252,999	1,340,647	1,343,444	1,219,728	837,365	787,341	988,724	2,437,891	4,046,550	4,094,092	4,322,738	3,284,213	1,886,609	1,851,599	1,423,424	853,080	585,226	1,016,008	1,868,994	3,051,072	3,253,564	3,337,280	3,137,139	2,371,890	1,989,865	1,477,578	900,208	627,369	781,676	923,204	1,622,191	1,568,161	0	0	0
Deferred financing costs
6,794	7,759	2,921	3,018	1,108	275	6,189	8,646	8,490	8,500	4,348	8,637	8,799	10,584	15,467	8,724	10,256	11,805	5,301	5,724	4,193	1,267	2,039	7,066	7,915	11,966	21,522	17,611	17,826	15,108	6,011	4,977	19,664	18,976	20,864	21,595	9,559	10,856	0	0	0
Proceeds from finance lease
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of finance deposits, net of refunds received
0	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on finance leases
1,484	1,472	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of finance deposits
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of debt extinguishment costs
-	-	-	-	-	-	-	-	-	-	-	-	-	14,419	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment of stock issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock repurchases
-	-	-	-	-	-	-	-	-	221,428	221,428	181,740	532,550	800,018	1,200,162	1,200,162	800,162	400,144	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Redemption of noncontrolling interests
42	67	91	673	721	759	730	958	970	920	909	85	15	30	265	297	486	456	221	204	33	236	280	265	247	1,066	1,037	1,093	1,098	86	0	0	0	-	-	-	-	-	-	-	-
Contribution from noncontrolling interests
3,256	3,131	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	379	0	0	0	-	-	-	-	-	-	-	-
Settlement of contingent consideration
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,667	18,667	9,000	9,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Dividends and distributions
474,810	474,534	473,567	471,442	454,248	453,634	454,549	450,638	447,000	443,839	440,256	437,643	437,704	779,308	1,122,492	1,126,809	1,127,872	787,109	431,921	416,436	401,845	385,725	380,570	373,289	364,641	355,506	346,692	338,463	330,748	326,185	319,984	312,685	305,469	296,948	289,630	289,479	289,962	225,958	0	0	0
Distributions to co-venture partner
-	-	-	-	-	-	-	-	-	103,752	15,516	16,289	17,362	18,165	22,494	24,168	23,887	23,498	18,192	15,394	15,160	15,555	17,089	18,540	19,779	19,564	19,360	41,206	40,093	39,479	38,333	14,996	14,895	40,905	61,638	54,857	47,757	13,972	0	0	0
Net cash provided by (used in) financing activities
355,228	-278,216	-342,698	-225,924	-225,660	-514,438	-581,880	-610,285	-636,334	-566,269	-526,674	-537,199	-720,770	-867,502	-1,426,081	-1,380,854	-931,762	-452,329	-17,770	109,925	-28,130	-129,723	-88,724	-637,810	-1,122,523	-689,980	381,975	659,216	815,439	610,623	-439,753	-268,331	-30,493	-403,596	-386,866	-425,335	78,643	294,127	0	0	0
Net increase in cash, cash equivalents and restricted cash
509,032	-35,085	-36,832	5,916	-13,777	6,196	22,276	5,075	25,542	-892	-3,746	22,910	-5,584	16,098	-8,828	-37,188	-11,656	1,603	34,530	53,826	53,235	15,192	-3,629	9,557	-3,888	3,922	-14,445	-42,854	-160,446	-1,455	-62,867	16,568	41,235	-378,397	-347,006	-523,489	91,799	352,390	0	0	0
Supplemental cash flow information:
Cash payments for interest, net of amounts capitalized
212,365	210,026	206,274	204,568	196,486	192,254	186,487	178,661	174,449	168,493	165,337	164,478	162,227	153,838	166,030	184,039	203,077	231,106	228,907	209,085	199,021	186,877	174,916	179,011	189,094	195,129	182,589	198,717	187,651	174,089	195,743	179,498	167,990	175,902	186,196	190,523	202,150	211,830	0	0	0
Non-cash investing and financing transactions:
Accrued development costs included in accounts payable and accrued expenses and other accrued liabilities
18,163	32,452	44,527	63,118	56,259	50,006	61,847	49,067	55,300	43,726	50,413	56,807	51,309	49,484	43,043	34,075	44,047	52,983	72,008	101,260	77,079	83,108	68,485	43,204	53,425	41,334	19,397	32,060	47,855	26,322	29,054	15,971	15,671	13,291	17,401	27,822	18,146	45,224	0	0	0
Accrued stock repurchase costs
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Conversion of Operating Partnership Units to common stock
5,797	1,005	0	0	0	-	-	-	-	16,797	16,923	21,125	9,978	12,448	10,720	3,119	3,114	1,559	2,985	2,985	3,336	2,410	984	984	12,637	12,984	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of properties by assumption of mortgage note payable and other accrued liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	192,566	0	0	0	-	-	-	-
Mortgage notes payable assumed by buyer in exchange for investment in unconsolidated joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	997,695	2,780,150	2,780,150	2,780,150	1,782,455	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Note receivable issued in connection with sale of property
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,603	9,603	9,603	9,603	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of property in exchange for investment in unconsolidated joint venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	76,250	76,250	76,250	92,017	15,767	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Assumption of mortgage notes payable and other liabilities from unconsolidated joint ventures
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	50,000	50,000	50,000	50,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Application of deposit to acquire property
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	30,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Stock dividend
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	43,086	0	0	0