Cousins Properties Inc (CUZ) financial statements: income statement, balance sheet and cash flow

Cousins Properties Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Cousins Properties Inc reported revenue of $993.8M (+16.0% year on year) and net income of $41.3M (-11.4% year on year).

Income statement

Cousins Properties Inc income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Total Revenues	$993.8M	$856.8M	$802.9M	$762.3M
Rental property operating expenses	$314.5M	$280.7M	$266.4M	$258.4M
Reimbursed expenses	$544.0K	$634.0K	$608.0K	$2.0M
General and administrative expenses	$38.6M	$36.6M	$32.3M	$28.3M
Interest expense	$159.2M	$122.5M	$105.5M	$72.5M
Operating property impairment	$13.3M	—	—	$0
Land and related predevelopment cost impairment	$1.0M	—	—	—
Depreciation and amortization	$415.4M	$365.0M	$314.9M	$295.6M
Other	$1.8M	$2.1M	$2.1M	$2.1M
Total costs and expenses	$944.4M	$807.5M	$721.9M	$659.0M
Income (Loss) from Equity Method Investments	($8.2M)	($2.8M)	$2.3M	$7.7M
Gain on investment property transactions	$0	$98.0K	$504.0K	($9.0K)
Net income	$41.3M	$46.6M	$83.8M	$167.4M
Net income attributable to noncontrolling interests	($749.0K)	($619.0K)	($853.0K)	($652.0K)
Net Income (Loss) Attributable to Parent, Total	$40.5M	$46.0M	$83.0M	$166.8M
Net income per common share — basic (in usd per share)	$0.24	$0.30	$0.55	$1.11
Net income per common share — diluted (in usd per share)	$0.24	$0.30	$0.55	$1.11
Weighted average common shares - basic (in shares)	167.9M	153.4M	151.7M	150.1M
Weighted average common shares — diluted (in shares)	168.7M	154.0M	152.0M	150.4M
Dividends declared per common share (in usd per share)	$1.28	$1.28	$1.28	$1.28

Cousins Properties Inc income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Total Revenues	$268.5M	$263.1M	$248.3M	$240.1M
Rental property operating expenses	$84.7M	$82.6M	$80.0M	$74.2M
Reimbursed expenses	$172.0K	$120.0K	$124.0K	$119.0K
General and administrative expenses	$12.1M	$11.8M	$9.5M	$9.7M
Interest expense	$47.1M	$45.1M	$41.5M	$38.5M
Depreciation and amortization	$104.8M	$108.4M	$105.3M	$100.9M
Other expenses	$389.0K	$438.0K	$440.0K	$443.0K
Total costs and expenses	$249.3M	$285.1M	$236.9M	$223.9M
Loss from unconsolidated joint ventures	($2.2M)	($2.6M)	($2.7M)	($1.6M)
Loss on Investment Property Transactions	$9.2M	($47.0K)	$0	$0
Net income	$26.2M	($24.7M)	$8.8M	$14.7M
Net income attributable to noncontrolling interests	($76.0K)	($186.0K)	($188.0K)	($175.0K)
Net income available to common stockholders	$26.2M	($24.9M)	$8.6M	$14.5M
Net income per common share — basic (in usd per share)	$0.16	-$0.15	$0.05	$0.09
Net income per common share — diluted (in usd per share)	$0.16	-$0.15	$0.05	$0.09
Weighted average common shares — basic (in shares)	164.6M	166.4M	168.0M	167.9M
Weighted average common shares — diluted (in shares)	165.3M	166.4M	168.7M	168.8M
Operating Property Impairment	$0	$36.6M	—	—

Balance sheet

Cousins Properties Inc balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Operating properties, net of accumulated depreciation of $1,922,394 and $1,627,251 in 2025 and 2024, respectively	$7.9B	$7.8B	$6.8B	$6.7B
Land	$135.9M	$154.7M	$154.7M	$158.4M
Total properties	$8.0B	$7.9B	$7.1B	$7.0B
Real estate assets and other assets held for sale, net	$61.5M	—	—	—
Cash and cash equivalents	$5.7M	$7.3M	$6.0M	$5.1M
Investments In Real Estate Debt	$37.8M	$167.2M	—	—
Accounts receivable	$17.6M	$11.5M	$11.1M	$8.7M
Deferred rents receivable	$269.3M	$232.1M	$209.4M	$184.0M
Investments in unconsolidated joint ventures	$215.3M	$185.5M	$143.8M	$112.8M
Intangible assets, net	$164.7M	$172.0M	$110.7M	$136.2M
Other assets, net	$87.5M	$86.2M	$90.7M	$81.9M
Total Assets	$8.9B	$8.8B	$7.6B	$7.5B
Notes payable	$3.3B	$3.1B	$2.5B	$2.3B
Accounts payable and accrued expenses	$314.3M	$337.2M	$299.8M	$271.1M
Deferred income	$301.4M	$277.1M	$181.7M	$128.6M
Intangible liabilities, net	$117.1M	$111.2M	$42.2M	$52.3M
Other liabilities	$111.5M	$110.7M	$104.8M	$103.4M
Liabilities of real estate assets held for sale, net	$2.8M	—	—	—
Total liabilities	$4.2B	$3.9B	$3.1B	$2.9B
Common stock, $1 par value per share, 300,000,000 shares authorized, 167,981,990 and 167,660,480 issued and outstanding in 2025 and 2024, respectively	$167982000.00	$167660000.00	$154336000.00	$154019000.00
Additional paid-in capital	$6.0B	$6.0B	$5.6B	$5.6B
Distributions in excess of cumulative net income	($1.5B)	($1.3B)	($1.1B)	($1.0B)
Accumulated other comprehensive loss	$0	($105.0K)	$2.2M	$1.8M
Total stockholders' investment	$4.7B	$4.8B	$4.5B	$4.6B
Nonredeemable noncontrolling interests	$22.6M	$23.5M	$24.2M	$21.3M
Total equity	$4.7B	$4.9B	$4.5B	$4.6B
Total liabilities and equity	$8.9B	$8.8B	$7.6B	$7.5B

Cousins Properties Inc balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Operating properties, net of accumulated depreciation of $1,944,115 and $1,922,394 in 2026 and 2025, respectively	$7.9B	$8.1B	$8.0B	$7.7B
Land	$135.9M	$135.9M	$154.7M	$154.7M
Total properties	$8.0B	$8.3B	$8.1B	$7.9B
Real estate assets and other assets held for sale, net	$223.6M	$23.2M	—	—
Cash and cash equivalents	$6.7M	$6.3M	$4.7M	$416.8M
Investments in real estate debt, at fair value	$19.6M	$19.6M	$36.8M	$17.0M
Accounts receivable	$15.6M	$15.9M	$11.7M	$10.8M
Deferred rents receivable	$276.4M	$278.4M	$263.9M	$255.1M
Investments in unconsolidated joint ventures	$212.8M	$214.0M	$215.5M	$192.4M
Intangible assets, net	$175.9M	$183.8M	$171.7M	$159.2M
Other assets, net	$102.4M	$95.8M	$90.9M	$98.5M
Total assets	$9.0B	$9.1B	$8.9B	$9.1B
Notes payable	$3.7B	$3.8B	$3.3B	$3.5B
Accounts payable and accrued expenses	$294.3M	$247.7M	$307.2M	$278.2M
Deferred income	$286.9M	$297.6M	$300.6M	$288.4M
Intangible liabilities, net	$121.8M	$126.8M	$121.5M	$104.2M
Other liabilities	$106.6M	$110.4M	$104.1M	$103.1M
Liabilities of real estate assets held for sale, net	$7.7M	$39.0K	—	—
Total liabilities	$4.5B	$4.6B	$4.1B	$4.3B
Common stock, $1 par value per share, 300,000,000 shares authorized, 164,602,058 and 167,981,990 issued and outstanding in 2026 and 2025, respectively	$164602000.00	$164542000.00	$167965000.00	$167968000.00
Additional paid-in capital	$5.9B	$5.9B	$6.0B	$6.0B
Distributions in excess of cumulative net income	($1.6B)	($1.5B)	($1.4B)	($1.4B)
Total stockholders' investment	$4.5B	$4.5B	$4.7B	$4.8B
Nonredeemable noncontrolling interests	$7.9M	$22.3M	$22.9M	$23.1M
Total equity	$4.5B	$4.5B	$4.8B	$4.8B
Total liabilities and equity	$9.0B	$9.1B	$8.9B	$9.1B

Cash flow statement

Cousins Properties Inc cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$41.3M	$46.6M	$83.8M	$167.4M
Gain on investment property transactions	$0	($98.0K)	($504.0K)	$9.0K
Depreciation and amortization	$415.4M	$365.0M	$314.9M	$295.6M
Amortization of deferred financing costs, debt premiums, and debt discounts, net	$4.5M	$4.0M	$4.1M	($99.0K)
Equity-classified stock-based compensation expense, net of forfeitures	$16.5M	$14.8M	$12.0M	$10.1M
Effect of non-cash adjustments to rental revenues	($86.8M)	($58.6M)	($48.1M)	($41.7M)
Loss (income) from unconsolidated joint ventures	$8.2M	$2.8M	($2.3M)	($7.7M)
Operating distributions from unconsolidated joint ventures	$1.5M	$3.6M	$3.7M	$5.4M
Operating property impairment	$13.3M	—	—	$0
Land and related predevelopment cost impairment	$1.0M	—	—	—
Change in receivables and other assets, net	($8.8M)	($2.1M)	($7.7M)	$1.7M
Change in operating liabilities, net	($3.7M)	$24.2M	$8.5M	($9.2M)
Net cash provided by operating activities	$402.3M	$400.2M	$368.4M	$365.2M
Capital expenditures	($267.2M)	($252.7M)	—	—
Property acquisitions	($247.8M)	($838.0M)	—	—
Proceeds from Sale, Maturity and Collection of Investments	$150.8M	—	—	—
Investments in real estate debt	($21.4M)	($167.2M)	—	—
Return of capital distributions from unconsolidated joint ventures	$0	$0	$10.9M	$16.8M
Contributions to unconsolidated joint ventures	($40.0M)	($47.5M)	($31.4M)	($47.9M)
Proceeds from investment property sales, net	$0	($3.0K)	$4.2M	$0
Net cash used in investing activities	($425.7M)	($1.3B)	($295.7M)	($334.5M)
Proceeds from credit facility	$523.1M	$1.4B	$382.9M	$428.7M
Repayment of credit facility	($519.4M)	($1.5B)	($254.4M)	($600.6M)
Bond issuance, net of original issue discount	$499.9M	$896.4M	—	—
Issuance of common stock	$0	$0	$0	$400.0M
Repayment of term loans	$0	($100.0M)	$0	$0
Repayment of mortgages	($6.8M)	($79.1M)	($8.3M)	($168.4M)
Repurchase of shares withheld for taxes on restricted stock vestings	-1.9M	-1.1M	—	—
Payment of deferred financing costs	($5.8M)	($8.2M)	($71.0K)	($8.2M)
Payment of issuance of common stock costs	$46.0K	$468.0M	$0	$103.1M
Proceeds from sale of treasury stock	$0	$0	$443.0K	$514.0K
Common dividends paid	($215.8M)	($195.4M)	($194.3M)	($192.3M)
Contributions from noncontrolling interests	$7.0K	$24.0K	$3.1M	$2.9M
Distributions to noncontrolling interests	($1.6M)	($1.4M)	($1.1M)	($114.0K)
Repayments of Senior Debt	$250.0M	—	—	—
Net cash provided by (used in) financing activities	$21.8M	$906.5M	($71.7M)	($35.7M)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	($1.6M)	$1.3M	$902.0K	($5.0M)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	$7.3M	$6.0M	$5.1M	$10.2M
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$5.7M	$7.3M	—	—

Cousins Properties Inc cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$1.6M	($24.7M)	$44.5M	$35.8M
Gain on investment property transaction	($9.1M)	$47.0K	$0	$0
Depreciation and amortization	$213.3M	$108.4M	$308.3M	$203.0M
Amortization of deferred financing costs, debt premiums, and debt discounts, net	$2.7M	$1.2M	$3.3M	$2.1M
Equity-classified stock-based compensation expense, net of forfeitures	$9.7M	$6.0M	$13.1M	$9.7M
Effect of non-cash adjustments to rental revenues	($42.0M)	($22.4M)	($65.7M)	($45.7M)
Loss from unconsolidated joint ventures	$4.9M	$2.6M	$6.2M	$3.5M
Operating distributions from unconsolidated joint ventures	$1.2M	$232.0K	$1.3M	$1.3M
Operating Property Impairment	$36.6M	$36.6M	—	$0
Change in receivables and other assets, net	($3.0M)	($4.1M)	($5.9M)	($7.0M)
Change in operating liabilities, net	($18.9M)	($63.5M)	($17.3M)	($35.4M)
Net cash provided by operating activities	$197.0M	$40.5M	$287.8M	$167.3M
Proceeds from Sale of Other Real Estate	$77.1M	$37.7M	—	—
Capital expenditures	($133.6M)	($59.7M)	($180.5M)	($126.3M)
Property acquisitions	($317.3M)	($317.3M)	($247.8M)	($37.8M)
Proceeds from borrower repayment of investments in real estate debt	$18.2M	$18.2M	$150.8M	$150.8M
Investments in real estate debt	$0	$0	($20.3M)	($586.0K)
Contributions to unconsolidated joint ventures	($3.8M)	($2.0M)	($37.7M)	($11.5M)
Net cash used in investing activities	($359.4M)	($323.0M)	($335.5M)	($25.4M)
Proceeds from credit facility	$1.0B	$898.0M	$389.1M	$231.6M
Repayment of credit facility	($978.0M)	($807.5M)	($417.7M)	($343.9M)
Bond issuance, net of original issue discount	$496.3M	$496.3M	$499.9M	$499.9M
Repayment of term loans	($150.0M)	($150.0M)	$0	—
Purchase of shares under share repurchase program	-90.0M	-90.0M	-250.0M	—
Repayment of mortgages	($3.5M)	($1.7M)	($5.0M)	($3.3M)
Repurchase of shares withheld for taxes on restricted stock vestings	-1.7M	-1.7M	-1.9M	-1.9M
Payment of deferred financing costs	($11.7M)	($4.5M)	($5.8M)	($5.4M)
Payment of issuance of common stock costs	$0	—	($315.0K)	($315.0K)
Common dividends paid	($108.0M)	($55.3M)	($162.1M)	($108.3M)
Acquisition of partners' noncontrolling interests	$18.5M	($483.0K)	($1.2M)	($785.0K)
Contributions from noncontrolling interests	$0	$0	$7.0K	$7.0K
Distributions to noncontrolling interests	$566.0K	—	—	—
Net cash provided by financing activities	$163.4M	$283.1M	$45.0M	$267.6M
NET INCREASE IN CASH AND CASH EQUIVALENTS	$979.0K	$576.0K	($2.7M)	$409.5M
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	$5.7M	$5.7M	$7.3M	$7.3M
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$6.7M	$6.3M	$4.7M	$416.8M

Cousins Properties Inc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.