Macerich Co'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), Macerich Co reported revenue of $1.0B (+10.4% year on year) and net income of ($201.1M) (-1.7% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Leasing revenue | $950.8M | $850.5M | $809.0M | $800.5M |
| Revenues | $63.2M | $67.8M | $75.0M | $58.6M |
| Total revenues | $1.0B | $918.2M | $884.1M | $859.2M |
| Shopping center and management companies operating expenses | $411.0M | $388.9M | $358.5M | $357.7M |
| Leasing expenses | $46.6M | $41.3M | $36.4M | $32.7M |
| REIT general and administrative expenses | $31.5M | $28.1M | $29.2M | $27.2M |
| Depreciation and amortization | $357.1M | $294.8M | $282.4M | $291.6M |
| Total expenses before interest | $846.2M | $753.2M | $706.5M | $709.1M |
| Interest (income) expense | $283.5M | $220.0M | $172.9M | — |
| Gain on extinguishment of debt | $0 | ($14.4M) | ($8.2M) | $0 |
| Total expenses | $1.1B | $958.8M | $871.2M | $926.0M |
| Equity in income (loss) of unconsolidated joint ventures | $35.9M | ($197.4M) | ($156.9M) | ($5.3M) |
| Income tax benefit | $2.2M | $1.3M | $494.0K | ($705.0K) |
| (Loss) gain on sale or write down of assets, net | ($123.4M) | $39.0M | ($134.5M) | $7.7M |
| Net loss | ($201.1M) | ($197.7M) | ($278.1M) | ($65.1M) |
| Less net loss attributable to noncontrolling interests | ($3.9M) | ($3.5M) | ($4.0M) | $989.0K |
| Net loss attributable to the Company | ($197.1M) | ($194.1M) | ($274.1M) | ($66.1M) |
| Basic (in dollars per share) | -$0.78 | -$0.88 | -$1.28 | -$0.31 |
| Diluted (in dollars per share) | -$0.78 | -$0.88 | -$1.28 | -$0.31 |
| Basic (in shares) | 254.2M | 221.8M | 215.5M | 215.0M |
| Diluted (in shares) | 254.2M | 221.8M | 215.5M | 215.0M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Leasing revenue | $233.4M | $226.0M | $237.2M | $232.7M |
| Revenue | $16.3M | $15.6M | $16.0M | $17.1M |
| Total revenues | $249.7M | $241.5M | $253.3M | $249.8M |
| Shopping center and management companies' operating expenses | $102.0M | $105.6M | $99.9M | $101.7M |
| Leasing expenses | $13.7M | $13.8M | $10.6M | $10.6M |
| REIT general and administrative expenses | $9.5M | $8.0M | $6.9M | $7.8M |
| Depreciation and amortization | $86.2M | $83.1M | $90.9M | $88.5M |
| Interest expense | $66.0M | $67.5M | $72.7M | $71.9M |
| Total expenses | $277.4M | $278.0M | $281.1M | $280.6M |
| Equity in loss of unconsolidated joint ventures | ($5.2M) | ($9.9M) | $9.8M | ($475.0K) |
| Income tax (expense) benefit | ($495.0K) | $2.6M | $710.0K | $188.0K |
| Gain (loss) on sale or write down of assets, net | $6.6M | $6.8M | ($72.6M) | ($10.5M) |
| Net loss | ($26.9M) | ($36.9M) | ($90.0M) | ($41.5M) |
| Less: net income (loss) attributable to noncontrolling interests | $219.0K | ($544.0K) | ($2.6M) | ($639.0K) |
| Net loss attributable to the Company | ($27.1M) | ($36.4M) | ($87.4M) | ($40.9M) |
| Basic (in dollars per share) | -$0.10 | -$0.14 | -$0.34 | -$0.16 |
| Diluted (in dollars per share) | -$0.10 | -$0.14 | -$0.34 | -$0.16 |
| Basic (in shares) | 273.7M | 258.0M | 254.1M | 253.1M |
| Diluted (in shares) | 273.7M | 258.0M | 254.1M | 253.1M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Property, net | $6.7B | $7.1B | $5.9B | $6.1B |
| Cash and cash equivalents | $280.2M | $89.9M | $94.9M | $100.3M |
| Restricted cash | $92.7M | $87.6M | $95.4M | $80.8M |
| Tenant and other receivables, net | $145.7M | $155.3M | $183.5M | $183.6M |
| Right-of-use assets, net | $108.9M | $111.0M | $118.7M | $126.6M |
| Deferred charges and other assets, net | $343.4M | $369.6M | $263.1M | $247.4M |
| Due from affiliates | $2.4M | $1.8M | $4.8M | $3.3M |
| Investments in unconsolidated joint ventures | $707.1M | $654.7M | $852.8M | $1.2B |
| Total assets | $8.4B | $8.6B | $7.5B | $8.1B |
| Mortgage notes payable | $5.1B | $4.9B | $4.1B | $4.2B |
| Bank and other notes payable | $0 | $98.3M | $89.5M | $163.1M |
| Accounts payable and accrued expenses | $125.2M | $87.5M | $64.2M | $63.1M |
| Lease liabilities | $67.0M | $71.7M | $84.0M | $94.9M |
| Other accrued liabilities | $386.1M | $379.9M | $334.7M | $318.7M |
| Distributions in excess of investments in unconsolidated joint ventures | $194.4M | $192.7M | $174.8M | $121.1M |
| Total liabilities | $5.8B | $5.7B | $5.0B | $5.1B |
| Common stock, $0.01 par value, 500,000,000 shares authorized at December 31, 2025 and 2024, 256,990,913 and 252,925,496 shares issued and outstanding at December 31, 2025 and 2024, respectively | 2.6M | 2.5M | 2.2M | 2.2M |
| Additional paid-in capital | $6.2B | $6.2B | $5.5B | $5.5B |
| Accumulated deficit | ($3.8B) | ($3.4B) | ($3.1B) | ($2.6B) |
| Accumulated other comprehensive loss | ($9.0K) | ($34.0K) | ($952.0K) | $632.0K |
| Total stockholders' equity | $2.4B | $2.8B | $2.4B | $2.9B |
| Noncontrolling interests | $78.2M | $85.9M | $80.6M | $83.6M |
| Total equity | $2.5B | $2.8B | $2.5B | $2.9B |
| Total liabilities and equity | $8.4B | $8.6B | $7.5B | $8.1B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Property, net | $6.9B | $6.7B | $6.7B | $7.2B |
| Cash and cash equivalents | $227.0M | $182.0M | $290.2M | $131.1M |
| Restricted cash | $83.9M | $88.7M | $90.4M | $94.4M |
| Tenant and other receivables, net | $128.6M | $125.8M | $129.9M | $129.2M |
| Right-of-use assets, net | $104.0M | $106.5M | $111.8M | $114.2M |
| Deferred charges and other assets, net | $363.5M | $319.0M | $341.9M | $372.6M |
| Due from affiliates | $3.1M | $3.6M | $1.7M | $3.5M |
| Investments in unconsolidated joint ventures | $703.9M | $699.6M | $727.1M | $718.9M |
| Total assets | $8.5B | $8.2B | $8.4B | $8.7B |
| Mortgage notes payable | $4.8B | $4.9B | $5.1B | $5.2B |
| Accounts payable and accrued expenses | $131.6M | $129.5M | $128.4M | $98.8M |
| Lease liabilities | $63.4M | $65.1M | $69.7M | $71.5M |
| Other accrued liabilities | $374.0M | $352.6M | $368.0M | $369.7M |
| Distributions in excess of investments in unconsolidated joint ventures | $199.3M | $199.9M | $199.3M | $206.4M |
| Total liabilities | $5.6B | $5.7B | $5.8B | $6.1B |
| Common stock, $0.01 par value, 500,000,000 shares authorized at June 30, 2026 and December 31, 2025, and 284,076,260 and 256,990,913 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | 2.8M | 2.6M | 2.6M | 2.5M |
| Additional paid-in capital | $6.8B | $6.3B | $6.2B | $6.2B |
| Accumulated deficit | ($3.9B) | ($3.9B) | ($3.7B) | ($3.6B) |
| Accumulated other comprehensive loss | ($5.0K) | ($7.0K) | ($11.0K) | ($13.0K) |
| Total stockholders' equity | $2.8B | $2.4B | $2.5B | $2.6B |
| Noncontrolling interests | $80.3M | $73.9M | $70.5M | $77.5M |
| Total equity | $2.9B | $2.5B | $2.6B | $2.7B |
| Total liabilities and equity | $8.5B | $8.2B | $8.4B | $8.7B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net loss | ($201.1M) | ($197.7M) | ($278.1M) | ($65.1M) |
| Gain on extinguishment of debt | $0 | ($14.4M) | ($8.2M) | $0 |
| Loss (gain) on sale or write down of assets, net | $123.4M | ($39.0M) | $134.5M | ($7.7M) |
| Depreciation and amortization | $368.1M | $305.9M | $296.4M | $302.5M |
| Amortization of net discount on mortgage notes payable | $31.1M | $13.1M | — | $0 |
| Amortization of share and unit-based plans | $18.2M | $12.1M | $13.2M | $17.6M |
| Straight-line rent and amortization of above and below market leases, net | ($7.0M) | ($3.1M) | $522.0K | ($1.3M) |
| Provision for (recovery of) doubtful accounts | $4.6M | $6.2M | ($2.7M) | ($656.0K) |
| Income tax benefit | ($2.2M) | ($1.3M) | ($494.0K) | $705.0K |
| Equity in (income) loss of unconsolidated joint ventures | ($35.9M) | $197.4M | $156.9M | $5.3M |
| Change in fair value of financing arrangement obligation | $0 | ($13.8M) | ($35.1M) | $24.2M |
| Distributions of income from unconsolidated joint ventures | $0 | $0 | $280.0K | $1.5M |
| Tenant and other receivables | $3.4M | $3.4M | $354.0K | $6.6M |
| Other assets | $612.0K | ($16.2M) | $6.1M | ($13.2M) |
| Due from affiliates | ($609.0K) | $2.9M | ($1.5M) | ($3.6M) |
| Accounts payable and accrued expenses | $32.5M | $21.3M | $1.9M | ($382.0K) |
| Other accrued liabilities | ($13.6M) | $6.6M | $11.4M | $71.0M |
| Net cash provided by operating activities | $321.6M | $283.4M | $295.5M | $337.5M |
| Acquisition of property | ($266.9M) | ($170.8M) | ($46.7M) | ($24.5M) |
| Development, redevelopment, expansion and renovation of properties | ($101.0M) | ($109.3M) | ($77.9M) | ($42.2M) |
| Property improvements | ($66.4M) | ($58.3M) | ($74.6M) | ($52.6M) |
| Proceeds from collection of notes receivable | $0 | $0 | $3.5M | $0 |
| Deferred leasing costs | ($5.6M) | ($4.9M) | ($7.0M) | ($3.1M) |
| Distributions from unconsolidated joint ventures | $112.6M | $94.0M | $300.9M | $131.3M |
| Contributions to unconsolidated joint ventures | ($157.6M) | ($49.0M) | ($81.2M) | ($81.7M) |
| Cash and restricted cash acquired from acquisition of previously unconsolidated joint venture | $0 | $49.0M | — | $0 |
| Derecognition of cash previously held by a consolidated joint venture to an unconsolidated joint venture | $0 | ($13.0M) | — | — |
| Proceeds from sale of assets | $159.6M | $282.1M | $35.5M | $50.5M |
| Net cash (used in) provided by investing activities | ($325.3M) | $19.8M | $52.5M | ($1.4M) |
| Proceeds from mortgages, bank and other notes payable | $599.1M | $1.2B | $719.0M | $205.0M |
| Payments on mortgages, bank and other notes payable | ($257.3M) | ($2.0B) | ($863.3M) | ($334.1M) |
| Deferred financing costs | ($5.5M) | ($8.8M) | ($28.9M) | ($6.4M) |
| Payment on finance arrangement obligation | $0 | $0 | ($5.6M) | — |
| Payments on finance leases | ($4.4M) | ($6.2M) | ($2.0M) | ($1.9M) |
| Proceeds from share and unit-based plans | $2.3M | $1.8M | $1.8M | $1.7M |
| Proceeds (costs) from stock offerings, net | $53.3M | ($657.0M) | — | — |
| Redemption of noncontrolling interests | ($4.0K) | $0 | ($55.0K) | ($328.0K) |
| Contributions from noncontrolling interests | $4.0K | $0 | $0 | $602.0K |
| Dividends and distributions | ($188.2M) | ($161.3M) | ($159.3M) | ($186.3M) |
| Net cash provided by (used in) financing activities | $199.2M | ($316.1M) | ($338.9M) | ($321.9M) |
| Net increase (decrease) in cash and cash equivalents and restricted cash | $195.5M | ($12.8M) | $9.2M | $14.2M |
| Cash and cash equivalents and restricted cash at beginning of year | $177.5M | $190.3M | $181.1M | $167.0M |
| Cash and cash equivalents and restricted cash at end of year | $373.0M | $177.5M | $190.3M | $181.1M |
| Cash payments for interest, net of amounts capitalized | $207.9M | $186.3M | $191.5M | $180.3M |
| Accrued development costs included in accounts payable and accrued expenses and other accrued liabilities | $57.6M | $49.5M | $48.2M | $35.3M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net loss | ($63.7M) | ($36.9M) | ($182.7M) | ($92.7M) |
| (Gain) loss on sale or write down of assets, net | ($13.4M) | ($6.8M) | $97.1M | $24.5M |
| Depreciation and amortization | $175.2M | $86.0M | $280.4M | $186.4M |
| Amortization of discount on mortgage notes payable | $8.3M | $4.2M | $25.8M | $18.2M |
| Amortization of share and unit-based plans | $12.6M | $5.9M | $13.3M | $8.5M |
| Straight-line rent and amortization of above and below market leases | ($3.8M) | ($2.2M) | ($4.8M) | ($2.4M) |
| Provision for doubtful accounts | $3.1M | $1.2M | $3.3M | $2.4M |
| Income tax benefit | ($2.1M) | ($2.6M) | ($1.7M) | ($1.0M) |
| Equity in loss of unconsolidated joint ventures | $15.1M | $9.9M | ($8.5M) | $1.3M |
| Tenant and other receivables | $17.4M | $25.0M | $21.3M | $21.7M |
| Other assets | $13.4M | $14.5M | $18.9M | $10.8M |
| Due from affiliates | ($659.0K) | ($1.1M) | $131.0K | ($1.6M) |
| Accounts payable and accrued expenses | $11.8M | $10.6M | $40.8M | $14.4M |
| Other accrued liabilities | ($28.9M) | ($30.2M) | ($32.1M) | ($31.4M) |
| Net cash provided by operating activities | $144.2M | $77.4M | $271.4M | $159.0M |
| Acquisitions of property | ($270.1M) | ($10.0M) | ($266.9M) | ($266.9M) |
| Development, redevelopment, expansion and renovation of properties | ($79.3M) | ($30.3M) | ($75.4M) | ($60.0M) |
| Property improvements | ($53.7M) | ($28.7M) | ($35.3M) | ($17.5M) |
| Deferred leasing costs | ($3.8M) | ($2.7M) | ($3.4M) | ($2.2M) |
| Distributions from unconsolidated joint ventures | $42.6M | $17.1M | $73.4M | $51.8M |
| Contributions to unconsolidated joint ventures | ($44.4M) | ($14.0M) | ($135.3M) | ($110.3M) |
| Proceeds from sale of assets | $15.9M | $13.8M | $124.8M | $90.4M |
| Net cash used in investing activities | ($392.8M) | ($54.7M) | ($318.2M) | ($314.7M) |
| Proceeds from mortgages, bank and other notes payable | $250.0M | $100.0M | $599.1M | $440.0M |
| Payments on mortgages, bank and other notes payable | ($479.9M) | ($221.4M) | ($247.0M) | ($134.7M) |
| Deferred financing costs | ($14.8M) | ($14.2M) | ($5.4M) | ($1.7M) |
| Payments on finance leases | $0 | $0 | ($4.4M) | ($4.4M) |
| Proceeds (costs) from stock offerings, net | $531.8M | $60.5M | $48.4M | — |
| Employee stock purchases | $1.1M | — | $1.3M | $1.3M |
| Redemption of noncontrolling interests | ($830.0K) | ($830.0K) | ($4.0K) | — |
| Dividends and distributions | ($100.8M) | ($49.0M) | ($142.0M) | ($96.2M) |
| Net cash provided by financing activities | $186.5M | ($124.9M) | $249.9M | $203.6M |
| Net (decrease) increase in cash, cash equivalents and restricted cash | ($62.0M) | ($102.2M) | $203.1M | $48.0M |
| Cash, cash equivalents and restricted cash, beginning of period | $373.0M | $373.0M | $177.5M | $177.5M |
| Cash, cash equivalents and restricted cash, end of period | $310.9M | $270.8M | $380.6M | $225.5M |
| Cash payments for interest, net of amounts capitalized | $109.1M | $56.3M | $156.3M | $101.3M |
| Accrued development costs included in accounts payable and accrued expenses and other accrued liabilities | $63.1M | $63.7M | $50.0M | $43.1M |
| Conversion of Operating Partnership Units to common stock | $5.4M | $5.2M | $5.8M | $118.0K |
Macerich Co score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.