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Equity Residential Cash Flow Statement

Operating, investing, and financing cash movements

Equity Residential generated $1.6B in operating cash flow over the trailing twelve months. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$1.6BNet Cash From Investing-$92.2MNet Cash From Financing (TTM)-$418.0MDepreciation And Amortization Cf (TTM)$1.0BNet Change In Cash (TTM)-$2.4M
Latest FilingQ1 2026
Report Date2026-04-30
Market Cap$25.0B
P/E Ratio26.19
ROE8.78%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Debt issuance costs and discount amortization$1.3M$1.3M$1.3M$1.3M$1.3M$1.3M
Amortization of debt issuance costs$2.1M$2.1M$2.1M$2.1M$2.4M$2.1M
Change in accounts payable—$51.3M—$44.9M—$31.6M
Change in other assets$17.4M-$25.4M$44.1M-$22M$12.1M-$31.2M
Change in other liabilities$16.4M-$21.6M$10.2M$23.7M$23.9M-$2.1M
Depreciation and amortization$264.2M$256.7M$240.9M$254.7M$258.1M$247.5M
Distributions from equity method investments$109K$150K$93K$2.5M$1.8M$1.5M
Net gains (losses) on investments—-$6.4M———-$2M
Gain (loss) on sale of assets-$676K-$40K-$9K-$2K$0—
Net cash from operating activities$354.2M$425.5M$359.5M$476.7M$387M$400.5M
Net income$433.9M$264.8M$198.8M$296.9M$391.5M$93.1M
Amortization Of Debt Discount Premium$1.3M$1.3M$1.3M$1.3M$1.3M$1.3M
Amortization Of Deferred Hedge Gains$677K$683K$262K$275K$279K$282K
Amortization expense related to capitalized debt issuance costs$2.1M$2.1M$2.1M$2.1M$2.4M$2.1M
Depreciation$264.2M$256.7M$240.9M$254.7M$258.1M$247.5M
Distributions of earnings from equity method investees$109K$150K$93K$2.5M$1.8M$1.5M
Gain (Loss) on Sale of Investments-$676K-$40K-$9K-$2K$0—
Gain Loss On Sale Of Land Parcels—-$67K-$11K-$2K$0—
Gains Losses On Sales Of Investment Real Estate$319M$154.2M$58.3M$142.7M$271.3M-$32K
Equity in earnings (losses) of equity method investees-$4.1M-$6.4M-$5M-$4M-$3.5M-$2M
Increase Decrease In Interest Payable Net$23.5M-$23.9M$25.4M-$21.1M—-$21.4M
Increase Decrease In Lease Liabilities-$500K-$541K-$565K-$560K-$590K-$616K
Increase (Decrease) in Other Operating Assets$17.4M-$25.4M$44.1M-$22M$12.1M-$31.2M
Increase Decrease In Security Deposits$1.3M$1.7M$3.8M$1.4M—$151K
Expensed transaction, development and other pursuit costs, net of recoveries$3.3M$1.3M$727K$4.1M$1.6M$954K
Operating And Finance Lease Right Of Use Asset Amortization$3.2M$3.2M$3.2M$3.2M$3.3M$3.2M
Stock-based compensation$4.5M$10.4M$11.2M$5.4M$5.2M$9.6M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net change in commercial paper$24.7B$11.5B$7.1B$14.6B$14.7B$6.7B
Proceeds from issuance of debt$194M————$1M
Repayments of debt$194M————$1M
Distributions to noncontrolling interests$1K$3.4M$631K$422K$0$1.9M
Dividends paid$256.1M$256.4M$263M$263.1M$263.7M$261.9M
Dividends paid on preferred stock$355K$356K$355K$356K$355K$356K
Distribution Made to Limited Partner, Cash Distributions Paid$7.4M$8.3M$7.6M$7.6M$6.2M$7.1M
Finance Ground Lease Principal Payments$722K$735K$736K$736K$739K$739K
Mortgage Notes Payable Lump Sum Pay Offs—$37.9M————
Payments of Ordinary Dividends, Preferred Stock and Preference Stock$355K$356K$355K$356K$355K$356K
Proceeds from Issuance of Commercial Paper$24.5B$11.2B$7.6B$14.6B$14.5B$6.9B
Issuance of stock under employee stock plans$692K$942K$471K$550K$782K$1.1M
Proceeds From Partnership Contribution—$4K—$1K——
Other, net-$42K-$7K-$46K-$7K-$45K-$7K
Proceeds From Unsecured Notes Payable$149.5M$124.6M$124.6M$124.6M$124.6M—
Repayment of commercial paper$24.7B$11.5B$7.1B$14.6B$14.7B$6.7B
Net cash from financing activities-$507.8M-$541.5M—-$305M-$729.4M-$328.1M
Other financing activities-$42K-$7K-$46K-$7K-$45K-$7K
Proceeds from issuance of common stock$5.7M$4.4M$997K$1K$116K$425K
Repurchases of common stock————$186.4M$219.4M

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income taxes paid$242K$371K$549K$150K$51K$459K
Interest paid$43.4M$89.5M$44.2M$90.3M$50.1M$90.5M
Amortization Of Deferred Financing Costs Mortgage Notes Payable Net$261K$355K$256K$255K$256K$256K
Amortization Of Deferred Financing Costs Notes Net$2.3M$1.1M$1.2M$1.2M$1.2M$1.2M
Amortization Of Deferred Financing Costs Other Assets$696K$697K$696K$696K$973K$718K
Amortization Of Deferred Settlements On Derivative Instruments Other Liabilities$3K$3K$3K$3K$3K$3K
Amortization Of Discounts And Premiums On Debt Mortgage Notes Payable$715K$698K$706K$715K$713K$699K
Amortization Of Discounts And Premiums On Debt Notes Net—$613K$620K$601K$602K$601K
Income Loss From Equity Method Investments Merger$3.8M$6.1M$4.7M$3.7M$3.9M$2M
Income Taxes Paid, Net$242K$371K$549K$150K$51K$459K
Initial Measurement And Reclassifications Lease Liabilities—$527K$0$3.3M$1.1M$593K
Initial Measurement And Reclassifications Right Of Use Assets—$527K$0$3.3M$1.1M$593K
Investment In Real Estate Net Under Development$2M-$2.4M$6.2M$1.5M$1.5M-$1.4M
Investments In Unconsolidated Entities$29.3M$31.7M$28.9M$2.2M$2.2M$2.6M
Investments In Unconsolidated Entities Other Liabilities$780K$660K$840K$19.3M$0—
Investments In Unconsolidated Entities Under Development-$1.8M-$1.5M-$1.3M-$1.4M-$1.4M-$1.3M
Non Cash Change In Supplemental Executive Retirement Plan Balances Paid In Capital—$111K-$851K——$136K
Non Cash Change In Supplemental Executive Retirement Plan Balances Other Assets-$95K$16.2M———$16.2M
Non Cash Change In Supplemental Executive Retirement Plan Balances Other Liabilities-$4M$16.3M-$24.5M$3.6M$6.7M$16.3M
Other Liabilities Loss From Investments In Unconsolidated Entities Merger$297K$307K$296K$274K—$12K
Unrealized Gain Loss On Derivative Instruments Other Liabilities$997.3K$2.1M$1.6M———
Unrealized Gain Loss On Derivative Instruments Other Assets—-$555K————
Write Off Of Pursuit Costs Investments In Unconsolidated Entities$425K$1.2M$589K$446K$1.3M$676K
Write Off Of Pursuit Costs Other Assets$417K$88K$33K$0$268K$200K
Write Off Pursuit Costs Investment In Real Estate$2.4M$82K$105K$3.7M$92K$78K

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non Real Estate Capital Additions$1.2M$935K$84K$274K$3.3M$1.3M
Payments For Capital Expenditures To Real Estate$71.3M$62M$82.4M$99.2M$98.5M$62M
Payments Of Interest Capitalized For Real Estate And Unconsolidated Entities Under Development$3.8M$3.9M$2.7M$2.9M$2.9M$2.6M
Payments To Acquire Equity Method Investments Development And Other$30.1M$32.3M$29.7M$21.5M$2.2M$2.6M
Payments To Acquire Real Estate$274.5M——$103.1M$23.7M—
Payments To Develop Real Estate Assets$39.1M$31M$28.7M$22.2M$29.9M$23.7M
Proceeds From Sale Of Real Estate Heldforinvestment$599.5M$226.7M$116.3M$246M$518.2M—
Net cash from investing activities—$97.3M-$616.3M-$104.1M—-$92.2M
Proceeds from maturities/sales of investments—$331K$0$687K$12.9M—
Purchases of investments—$62.5K$62.5K$62.5K$62.5K—

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net increase (decrease) in cash$33.6M-$18.6M-$9.6M$67.5M-$40.6M-$19.7M
Unrealized Gain - Net of Tax—-$1.5M-$2M———
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax-$680K-$686K-$265K-$278K-$282K-$285K