$VNO Cashflow Statement | Understand Stock

$VNO

$34.33 -$0.47 (1.35%) Close

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated statements of cash flows

In millions of USD, except per-share amounts

	FY2025 12 months to Dec 31, 2025	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021
Cash Flows from Operating Activities:
Net income
Adjustments to reconcile net income to net cash provided by operating activities:
Prepaid lease payment (net of initial direct costs)
Gain on sales-type lease
Depreciation and amortization (including amortization of deferred financing costs)
Equity in net income of partially owned entities
Distributions of income from partially owned entities
Equity in net (income) loss of partially owned entities
Straight-lining of rents
Net gains on disposition of wholly owned and partially owned assets
Stock-based compensation expense
Amortization of interest rate cap premiums
Change in deferred tax liability
Amortization of below-market leases, net
Real estate impairment losses
Credit losses on investments
Decrease in fair value of marketable securities
Net gain on transfer to Fifth Avenue and Times Square JV
Prepayment penalty on redemption of senior unsecured notes due 2022
Net realized and unrealized gain on real estate fund investments
Return of capital from real estate fund investments
Net realized and unrealized (income) loss on real estate fund investments
Write-off of lease receivables deemed uncollectible
Defeasance cost in connection with refinancing of mortgage payable
Non-cash gain on extinguishment of 608 Fifth Avenue lease liability
Other non-cash adjustments
Changes in operating assets and liabilities:
Real estate fund investments
Tenant and other receivables
Prepaid assets
Other assets
Lease liabilities
Accounts payable and accrued expenses
Other liabilities

Net cash provided by operating activities
Cash Flows from Investing Activities:
Proceeds from partial redemption of Fifth Avenue and Times Square JV preferred equity
Acquisitions of real estate and other
Additions to real estate
Development costs and construction in progress
Proceeds from sales of real estate and other
Distributions of capital from partially owned entities
Proceeds from sale of condominium units and ancillary amenities at 220 Central Park South
Investments in partially owned entities
Investment in loan receivable
Proceeds from maturities of U.S. Treasury bills
Proceeds from repayment of participation in 150 West 34th Street mortgage loan
Moynihan Train Hall expenditures
Proceeds from sales of marketable securities
Proceeds from transfer of interest in Fifth Avenue and Times Square JV (net of $35,562 of transaction costs and $10,899 of deconsolidated cash and restricted cash)
Proceeds from redemption of 640 Fifth Avenue preferred equity
Deconsolidation of cash and restricted cash held by a previously consolidated entity
Purchase of U.S. Treasury bills
Acquisition of additional 45.0% ownership interest in One Park Avenue (inclusive of $5,806 of prorations and net working capital and net of $39,370 of cash and restricted cash balances consolidated upon acquisition)
Proceeds from repayments of loans receivable
Net cash provided by (used in) investing activities

Cash Flows from Financing Activities:
Repayments of borrowings
Proceeds from borrowings
Purchase of marketable securities in connection with defeasance of mortgage payable
Redemption of preferred shares
Proceeds from the issuance of preferred shares
Moynihan Train Hall reimbursement from Empire State Development
Prepayment penalty on redemption of senior unsecured notes due 2022
Dividends paid on common shares
Dividends paid on preferred shares
Repurchase of common shares
Distributions to noncontrolling interests
Deferred financing costs
Proceeds received from exercise of employee share options and other
Repurchase of shares related to stock compensation agreements and related tax withholdings and other
Contributions from noncontrolling interests in consolidated subsidiaries
Proceeds received from exercise of employee share options (Vornado stock options) and other
Other financing activity, net
Net cash used in financing activities

Net increase (decrease) in cash and cash equivalents and restricted cash
Cash and cash equivalents and restricted cash at beginning of period
Cash and cash equivalents at end of period
Restricted cash at end of period
Cash and cash equivalents and restricted cash at end of period
Supplemental Disclosure of Cash Flow Information:
Cash payments for interest (excluding capitalized interest) and interest rate cap premiums
Cash payments for income taxes
Marketable securities transferred in connection with the defeasance of mortgage payable
Non-Cash Information:
Real estate
770 Broadway
Pier 94
Total real estate
Additional estimated lease liability arising from the recognition of right-of-use asset
Special dividend/distribution declared and payable on January 15, 2020
Recognition of negative basis related to the sale of our investment in 330 Madison Avenue
Reclassification of condominium units from "development costs and construction in progress" to "other assets"
Receivable arising from the straight-lining of rents
Deferred leasing costs, net of accumulated amortization
Other
Redeemable Class A unit measurement adjustment
Write-off of fully depreciated assets
Change in fair value of consolidated interest rate hedges and other
Accrued capital expenditures included in accounts payable and accrued expenses
Reclassification of assets held for sale (included in "other assets")
Real estate, net
Moynihan Train Hall Obligation
Preferred equity
Common equity
Real estate
Identified intangible assets
Mortgages payable
One Park Avenue
Total mortgages payable

Deferred revenue
One Park Avenue
Total deferred revenue

Marketable securities transferred in connection with the defeasance of mortgage payable
Defeasance of mortgage payable
Initial investment in Sunset Pier 94 Joint Venture upon contribution of leasehold interest

Reconciliation of Cash and Cash Equivalents and Restricted Cash:
Cash and cash equivalents at beginning of period
Restricted cash at beginning of period

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