EMPIRE STATE REALTY TRUST, INC.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $73.0M | $80.4M | $84.4M | $63.2M | $-13.0M | $-22.9M | $84.3M | $117.3M |
| Depreciation & Amortization | $194.8M | $184.8M | $189.9M | $216.9M | $201.8M | $191.0M | $181.6M | $168.5M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | $5.8M | $5.2M | $7.4M | $11.8M | — | — | — | — |
| Stock-Based Compensation | $25.2M | $21.7M | $20.0M | $21.0M | $20.3M | $25.5M | $20.9M | $18.8M |
| Net Cash from Operating Activities | $249.1M | $260.9M | $232.5M | $211.2M | $212.5M | $182.3M | $232.6M | $279.0M |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | $169.2M | $86.0M | $398.4M | $104.1M | $255.9M | $256.5M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-550.0M | $-397.1M | $-77.3M | $-230.9M | $-212.7M | $-143.1M | $149.7M | $-643.0M |
| Financing Activities | ||||||||
| Dividends Paid | $23.7M | $23.2M | $22.7M | $23.1M | $18.1M | $37.2M | $75.2M | $70.9M |
| Stock Repurchases | $8.1M | $0 | $13.1M | $90.2M | $46.7M | $143.7M | $0 | $0 |
| Net Cash from Financing Activities | $38.2M | $158.6M | $-62.9M | $-140.2M | $-93.0M | $257.2M | $-381.6M | $104.6M |
| Net Change in Cash | $-262.8M | $22.3M | $92.3M | $-160.0M | $-93.3M | $296.3M | $784.0K | $-259.4M |
| Free Cash Flow | — | — | $63.3M | $125.2M | $-185.9M | $78.2M | $-23.3M | $22.5M |