HOWARD HUGHES HOLDINGS INC. (HHH) FY2026 YTD Q2 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-01-01 to 2026-06-30

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HOWARD HUGHES HOLDINGS INC. cash flow reconciliation, Jan 1, 2026 through Jun 30, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Read chart description and values below for full signed amounts, including zero items.Net income (loss) → Net cash from operating activities: $165,022,000.00Condominium rights and units cost of sales, net of closing commissions → Operating adjustments reconciliation: $560,092,000.00Depreciation → Operating adjustments reconciliation: $94,281,000.00Master Planned Communities cost of sales, net of SID bonds transfers to buyers → Operating adjustments reconciliation: $85,264,000.00Deferred income taxes → Operating adjustments reconciliation: $39,197,000.00Investment (gain) loss, net → Operating adjustments reconciliation: $38,278,000.00Amortization → Operating adjustments reconciliation: $31,299,000.00Reserves for claims and claim expenses → Operating adjustments reconciliation: $25,206,000.00Unearned premiums → Operating adjustments reconciliation: $22,334,000.00Proceeds from sale of MUD receivables → Operating adjustments reconciliation: $17,540,000.00(Gain) loss on extinguishment of debt → Operating adjustments reconciliation: $10,639,000.00Equity in (earnings) losses from unconsolidated ventures, net of distributions → Operating adjustments reconciliation: $8,912,000.00Restricted stock and stock option amortization → Operating adjustments reconciliation: $8,426,000.00Amortization of deferred financing costs → Operating adjustments reconciliation: $6,415,000.00Provision for (recovery of) doubtful accounts → Operating adjustments reconciliation: $2,462,000.00Loss on sale of MUD receivables → Operating adjustments reconciliation: $555,000.00(Gain) loss on foreign exchange → Operating adjustments reconciliation: $73,000.00Operating adjustments reconciliation → Net cash from operating activities: $112,109,000.00Operating adjustments reconciliation → Condominium development expenditures: $277,972,000.00Operating adjustments reconciliation → Master Planned Communities development expenditures: $274,296,000.00Operating adjustments reconciliation → Condominium deposits, net: $96,339,000.00Operating adjustments reconciliation → Other liabilities, net: $52,050,000.00Operating adjustments reconciliation → Net gain on sale of properties: $51,800,000.00Operating adjustments reconciliation → Deferred expenses, net: $33,017,000.00Operating adjustments reconciliation → Accounts receivable, net: $23,236,000.00Operating adjustments reconciliation → Other assets, net: $22,623,000.00Operating adjustments reconciliation → Straight-line rent amortization: $4,828,000.00Operating adjustments reconciliation → Reinsurance recoverable on paid and unpaid losses: $2,546,000.00Operating adjustments reconciliation → Amortization and accretion of investment securities: $157,000.00Proceeds from mortgages, notes, and loans payable → financing reconciliation: $1,559,283,000.00Proceeds from issuance of Series A Preferred Stock, net → financing reconciliation: $997,353,000.00Proceeds from issuance of warrants → financing reconciliation: $10,000,000.00Special Improvement District bond funds released from (held in) escrow → financing reconciliation: $8,620,000.00Stock options exercised → financing reconciliation: $1,026,000.00Contributions from Teravalis noncontrolling interest owner → financing reconciliation: $262,000.00financing reconciliation → Net cash from financing activities: $1,348,519,000.00financing reconciliation → Principal payments on mortgages, notes, and loans payable: $1,195,061,000.00financing reconciliation → Deferred financing costs and bond issuance costs: $20,243,000.00financing reconciliation → Debt extinguishment costs: $6,900,000.00financing reconciliation → Taxes paid on stock options exercised and restricted stock vested: $5,821,000.00Net cash used in investing activities → investing reconciliation: $357,454,000.00Sales of fixed maturity securities → investing reconciliation: $2,335,763,000.00Proceeds from sales of properties, net → investing reconciliation: $125,972,000.00Maturities, calls, and paydowns of fixed maturities securities → investing reconciliation: $23,231,000.00Distributions from unconsolidated ventures → investing reconciliation: $15,536,000.00Sales of short-term investments → investing reconciliation: $4,606,000.00Reimbursements under tax increment financings and grants → investing reconciliation: $2,879,000.00Maturities, calls, and paydowns of short-term investments → investing reconciliation: $600,000.00Other → investing reconciliation: $566,000.00investing reconciliation → Acquisition of business, net of cash acquired: $1,639,220,000.00investing reconciliation → Purchases of equity securities: $1,113,489,000.00investing reconciliation → Property development and redevelopment: $45,501,000.00investing reconciliation → Investments in unconsolidated ventures, net: $39,682,000.00investing reconciliation → Operating property improvements: $23,057,000.00investing reconciliation → Property and equipment expenditures: $5,457,000.00investing reconciliation → Purchases of short-term investments: $201,000.00Beginning cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations → Cash sources and uses: $2,097,158,000.00Net cash from operating activities → Cash sources and uses: $277,131,000.00Net cash from financing activities → Cash sources and uses: $1,348,519,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations: $3,365,354,000.00Cash sources and uses → Net cash used in investing activities: $357,454,000.00Net income (loss): $165,022,000.00Net income (loss)+$165.02 MDepreciation: $94,281,000.00Depreciation expense+$94.28 MAmortization: $31,299,000.00Amortization+$31.30 MAmortization and accretion of investment securities: -$157,000.00Investment discount & premium−$157.00 KAmortization of deferred financing costs: $6,415,000.00Debt cost amortization+$6.42 MStraight-line rent amortization: -$4,828,000.00Straight-line rents−$4.83 MDeferred income taxes: $39,197,000.00Deferred income taxes+$39.20 MRestricted stock and stock option amortization: $8,426,000.00Stock-based compensation+$8.43 MNet gain on sale of properties: -$51,800,000.00Property sale gain & loss−$51.80 MInvestment (gain) loss, net: $38,278,000.00Investment (gain) loss, net+$38.28 M(Gain) loss on foreign exchange: $73,000.00FX transaction gain & loss+$73.00 KLoss on sale of MUD receivables: $555,000.00Loss on sale of MUD receivables+$555.00 KProceeds from sale of MUD receivables: $17,540,000.00MUD receivable sales+$17.54 M(Gain) loss on extinguishment of debt: $10,639,000.00Debt extinguishment gain & loss+$10.64 MEquity in (earnings) losses from unconsolidated ventures, net of distributions: $8,912,000.00Equity-method income, net+$8.91 MProvision for (recovery of) doubtful accounts: $2,462,000.00Loan & lease loss provision+$2.46 MMaster Planned Communities development expenditures: -$274,296,000.00Community development costs−$274.30 MMaster Planned Communities cost of sales, net of SID bonds transfers to buyers: $85,264,000.00Community cost of sales, net+$85.26 MCondominium development expenditures: -$277,972,000.00Condominium development costs−$277.97 MCondominium rights and units cost of sales, net of closing commissions: $560,092,000.00Condominium cost of sales, net+$560.09 MAccounts receivable, net: -$23,236,000.00Accounts receivable−$23.24 MReinsurance recoverable on paid and unpaid losses: -$2,546,000.00Reinsurance recoverables−$2.55 MOther assets, net: -$22,623,000.00Other operating assets−$22.62 MCondominium deposits, net: -$96,339,000.00Condominium deposits, net−$96.34 MDeferred expenses, net: -$33,017,000.00Deferred costs−$33.02 MReserves for claims and claim expenses: $25,206,000.00Claims reserves+$25.21 MUnearned premiums: $22,334,000.00Unearned premiums+$22.33 MOther liabilities, net: -$52,050,000.00Other operating liabilities−$52.05 MNet cash from operating activities: $277,131,000.00Operating cash+$277.13 MOperating adjustments reconciliation: $950,973,000.00Proceeds from mortgages, notes, and loans payable: $1,559,283,000.00Long-term debt issued+$1.56 BPrincipal payments on mortgages, notes, and loans payable: -$1,195,061,000.00Long-term debt repaid−$1.20 BProceeds from issuance of common stock, net: $0.00Proceeds from issuance of Series A Preferred Stock, net: $997,353,000.00Preferred stock issued+$997.35 MProceeds from issuance of warrants: $10,000,000.00Warrants issued+$10.00 MDebt extinguishment costs: -$6,900,000.00Debt extinguishment costs−$6.90 MSpecial Improvement District bond funds released from (held in) escrow: $8,620,000.00SID bond escrow, net+$8.62 MDeferred financing costs and bond issuance costs: -$20,243,000.00Financing & bond costs paid−$20.24 MTaxes paid on stock options exercised and restricted stock vested: -$5,821,000.00Stock-award tax withholding−$5.82 MStock options exercised: $1,026,000.00Stock option exercises+$1.03 MContributions from Teravalis noncontrolling interest owner: $262,000.00Teravalis owner contributions+$262.00 KNet cash from financing activities: $1,348,519,000.00Financing cash+$1.35 Bfinancing reconciliation: $2,576,544,000.00Property and equipment expenditures: -$5,457,000.00PP&E purchases−$5.46 MOperating property improvements: -$23,057,000.00Capital improvements−$23.06 MProperty development and redevelopment: -$45,501,000.00Real estate development−$45.50 MSales of fixed maturity securities: $2,335,763,000.00AFS securities proceeds+$2.34 BMaturities, calls, and paydowns of fixed maturities securities: $23,231,000.00Fixed maturity redemptions+$23.23 MPurchases of short-term investments: -$201,000.00Short-term investment purchases−$201.00 KSales of short-term investments: $4,606,000.00Short-term investment sales+$4.61 MMaturities, calls, and paydowns of short-term investments: $600,000.00Short-term investment maturities+$600.00 KPurchases of equity securities: -$1,113,489,000.00Equity securities purchases−$1.11 BAcquisition of business, net of cash acquired: -$1,639,220,000.00Acquisitions, net of cash−$1.64 BAcquisition of assets: $0.00Proceeds from sales of properties, net: $125,972,000.00Real estate sales+$125.97 MReimbursements under tax increment financings and grants: $2,879,000.00Tax increment reimbursements+$2.88 MDistributions from unconsolidated ventures: $15,536,000.00Distributions from ventures+$15.54 MInvestments in unconsolidated ventures, net: -$39,682,000.00Investments in affiliates−$39.68 MOther: $566,000.00Other investing, net+$566.00 KNet cash used in investing activities: -$357,454,000.00. Cash required to fund net payments.Investing cash−$357.45 Minvesting reconciliation: $2,866,607,000.00Cash sources and uses: $3,722,808,000.00Beginning cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations: $2,097,158,000.00Beginning cash$2.10 BEnding cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations: $3,365,354,000.00Ending cash$3.37 BCASH RECONCILIATIONOperatingflowsFinancingflowsInvestingflowsFree cash flowNot availableCash flow / Net income1.68×Operating cash flow ÷ net incomeNet cash change+$1.27 BEnding cash − beginning cash
Chart details

HOWARD HUGHES HOLDINGS INC. cash flow reconciliation, Jan 1, 2026 through Jun 30, 2026

Cash flows for Jan 1, 2026 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations. Beginning cash: Dec 31, 2025. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2025
2,097,158,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations
Operating activities
277,131,000 US dollars. Net cash provided.
Net income (loss)
165,022,000 US dollars
Depreciation
94,281,000 US dollars
Amortization
31,299,000 US dollars
Amortization and accretion of investment securities
negative 157,000 US dollars
Amortization of deferred financing costs
6,415,000 US dollars
Straight-line rent amortization
negative 4,828,000 US dollars
Deferred income taxes
39,197,000 US dollars
Restricted stock and stock option amortization
8,426,000 US dollars
Net gain on sale of properties
negative 51,800,000 US dollars
Investment (gain) loss, net
38,278,000 US dollars
(Gain) loss on foreign exchange
73,000 US dollars
Loss on sale of MUD receivables
555,000 US dollars
Proceeds from sale of MUD receivables
17,540,000 US dollars
(Gain) loss on extinguishment of debt
10,639,000 US dollars
Equity in (earnings) losses from unconsolidated ventures, net of distributions
8,912,000 US dollars
Provision for (recovery of) doubtful accounts
2,462,000 US dollars
Master Planned Communities development expenditures
negative 274,296,000 US dollars
Master Planned Communities cost of sales, net of SID bonds transfers to buyers
85,264,000 US dollars
Condominium development expenditures
negative 277,972,000 US dollars
Condominium rights and units cost of sales, net of closing commissions
560,092,000 US dollars
Accounts receivable, net
negative 23,236,000 US dollars
Reinsurance recoverable on paid and unpaid losses
negative 2,546,000 US dollars
Other assets, net
negative 22,623,000 US dollars
Condominium deposits, net
negative 96,339,000 US dollars
Deferred expenses, net
negative 33,017,000 US dollars
Reserves for claims and claim expenses
25,206,000 US dollars
Unearned premiums
22,334,000 US dollars
Other liabilities, net
negative 52,050,000 US dollars
Investing activities
negative 357,454,000 US dollars. Net cash used.
Property and equipment expenditures
negative 5,457,000 US dollars
Operating property improvements
negative 23,057,000 US dollars
Property development and redevelopment
negative 45,501,000 US dollars
Sales of fixed maturity securities
2,335,763,000 US dollars
Maturities, calls, and paydowns of fixed maturities securities
23,231,000 US dollars
Purchases of short-term investments
negative 201,000 US dollars
Sales of short-term investments
4,606,000 US dollars
Maturities, calls, and paydowns of short-term investments
600,000 US dollars
Purchases of equity securities
negative 1,113,489,000 US dollars
Acquisition of business, net of cash acquired
negative 1,639,220,000 US dollars
Acquisition of assets
0 US dollars
Proceeds from sales of properties, net
125,972,000 US dollars
Reimbursements under tax increment financings and grants
2,879,000 US dollars
Distributions from unconsolidated ventures
15,536,000 US dollars
Investments in unconsolidated ventures, net
negative 39,682,000 US dollars
Other
566,000 US dollars
Financing activities
1,348,519,000 US dollars. Net cash provided.
Proceeds from mortgages, notes, and loans payable
1,559,283,000 US dollars
Principal payments on mortgages, notes, and loans payable
negative 1,195,061,000 US dollars
Proceeds from issuance of common stock, net
0 US dollars
Proceeds from issuance of Series A Preferred Stock, net
997,353,000 US dollars
Proceeds from issuance of warrants
10,000,000 US dollars
Debt extinguishment costs
negative 6,900,000 US dollars
Special Improvement District bond funds released from (held in) escrow
8,620,000 US dollars
Deferred financing costs and bond issuance costs
negative 20,243,000 US dollars
Taxes paid on stock options exercised and restricted stock vested
negative 5,821,000 US dollars
Stock options exercised
1,026,000 US dollars
Contributions from Teravalis noncontrolling interest owner
262,000 US dollars
Operating adjustment reconciliation
950,973,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
2,576,544,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
2,866,607,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
0 US dollars
Ending cash on Jun 30, 2026
3,365,354,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash, including disposal groups and discontinued operations
Cash sources and uses
3,722,808,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
1,268,196,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.68×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $112.11M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
HOWARD HUGHES HOLDINGS INC. (HHH) FY2026 YTD Q2 Statement of Cash Flows Sankey chart
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