WELLTOWER INC. (WELL) FY2024 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2024-01-01 to 2024-12-31

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WELLTOWER INC. cash flow reconciliation, Jan 1, 2024 through Dec 31, 2024One 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. 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 → Net cash from operating activities: $972,857,000.00Depreciation and amortization → Operating adjustments reconciliation: $1,632,093,000.00Impairment of assets → Operating adjustments reconciliation: $92,793,000.00Stock-based compensation expense → Operating adjustments reconciliation: $75,821,000.00Other amortization expenses → Operating adjustments reconciliation: $47,759,000.00Increase (decrease) in accrued expenses and other liabilities → Operating adjustments reconciliation: $26,541,000.00Distributions by unconsolidated entities → Operating adjustments reconciliation: $19,516,000.00Provision for loan losses, net → Operating adjustments reconciliation: $10,125,000.00Loss (gain) on extinguishment of debt, net → Operating adjustments reconciliation: $2,130,000.00Loss (income) from unconsolidated entities → Operating adjustments reconciliation: $496,000.00Operating adjustments reconciliation → Net cash from operating activities: $1,283,564,000.00Operating adjustments reconciliation → Loss (gain) on real estate dispositions and acquisitions of controlling interests, net: $451,611,000.00Operating adjustments reconciliation → Decrease (increase) in receivables and other assets: $68,579,000.00Operating adjustments reconciliation → Proceeds from (payments on) interest rate swap settlements: $59,555,000.00Operating adjustments reconciliation → Loss (gain) on derivatives and financial instruments, net: $27,887,000.00Operating adjustments reconciliation → Rental income less than (in excess of) cash received: $15,859,000.00Operating adjustments reconciliation → Amortization related to above (below) market leases, net: $219,000.00Net proceeds from the issuance of common stock → financing reconciliation: $7,415,778,000.00Net carrying value included in senior unsecured notes → financing reconciliation: $1,015,063,000.00Net proceeds from the issuance of secured debt → financing reconciliation: $197,930,000.00Contributions by noncontrolling interests → financing reconciliation: $59,643,000.00financing reconciliation → Net cash from financing activities: $4,905,351,000.00financing reconciliation → Cash distributions to stockholders: $1,545,275,000.00financing reconciliation → Payments to extinguish senior unsecured notes: $1,350,000,000.00financing reconciliation → Payments on secured debt: $498,049,000.00financing reconciliation → Distributions to noncontrolling interests: $301,029,000.00financing reconciliation → Other financing activities: $65,322,000.00financing reconciliation → Payments for deferred financing costs and prepayment penalties: $23,388,000.00Net cash used in investing activities → investing reconciliation: $5,514,681,000.00Proceeds from sales of real property → investing reconciliation: $336,525,000.00Principal collected on loans receivable → investing reconciliation: $294,409,000.00Distributions by unconsolidated entities → investing reconciliation: $52,391,000.00Net proceeds from net investment hedge settlements → investing reconciliation: $20,093,000.00investing reconciliation → Cash disbursed for acquisitions, net of cash acquired: $3,525,449,000.00investing reconciliation → Cash disbursed for capital improvements to existing properties: $857,546,000.00investing reconciliation → Cash disbursed for construction in progress: $827,900,000.00investing reconciliation → Investment in loans receivable: $623,501,000.00investing reconciliation → Contributions to unconsolidated entities: $264,561,000.00investing reconciliation → Other investments, net of payments: $61,027,000.00investing reconciliation → Capitalized interest: $58,115,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $2,076,083,000.00Net cash from operating activities → Cash sources and uses: $2,256,421,000.00Net cash from financing activities → Cash sources and uses: $4,905,351,000.00Cash sources and uses → Exchange-rate effect: $11,717,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $3,711,457,000.00Cash sources and uses → Net cash used in investing activities: $5,514,681,000.00Loss (gain) on real estate dispositions and acquisitions of controlling interests, net: -$451,611,000.00Loss (gain) on real estate dispositions andacquisitions of controlling interests, net−$451.61 MRental income less than (in excess of) cash received: -$15,859,000.00Straight-line rents−$15.86 MProvision for loan losses, net: $10,125,000.00Loan loss provision+$10.13 MDepreciation and amortization: $1,632,093,000.00Other D&A+$1.63 BProceeds from (payments on) interest rate swap settlements: -$59,555,000.00Proceeds from (payments on) interest rate swapsettlements−$59.56 MStock-based compensation expense: $75,821,000.00Stock-based compensation+$75.82 MLoss (gain) on derivatives and financial instruments, net: -$27,887,000.00Derivative gain & loss, net−$27.89 MIncrease (decrease) in accrued expenses and other liabilities: $26,541,000.00Other operating liabilities+$26.54 MLoss (gain) on extinguishment of debt, net: $2,130,000.00Debt extinguishment gain & loss+$2.13 MDistributions by unconsolidated entities: $19,516,000.00Equity-method distributions+$19.52 MNet income: $972,857,000.00Net income+$972.86 MLoss (gain) on loss of control of subsidiary: $0.00Other amortization expenses: $47,759,000.00Amortization expense+$47.76 MDecrease (increase) in receivables and other assets: -$68,579,000.00Other operating assets−$68.58 MLoss (income) from unconsolidated entities: $496,000.00Equity-method results+$496.00 KImpairment of assets: $92,793,000.00Asset impairments+$92.79 MAmortization related to above (below) market leases, net: -$219,000.00Market-lease amortization, net−$219.00 KNet cash from operating activities: $2,256,421,000.00Operating cash+$2.26 BOperating adjustments reconciliation: $1,907,274,000.00Payments on secured debt: -$498,049,000.00Secured debt repaid−$498.05 MContributions by noncontrolling interests: $59,643,000.00From noncontrolling interests+$59.64 MPayments to extinguish senior unsecured notes: -$1,350,000,000.00Unsecured debt repaid−$1.35 BNet proceeds from the issuance of common stock: $7,415,778,000.00Equity issued+$7.42 BCash distributions to stockholders: -$1,545,275,000.00Dividends paid−$1.55 BNet carrying value included in senior unsecured notes: $1,015,063,000.00Unsecured debt issued+$1.02 BNet proceeds from the issuance of secured debt: $197,930,000.00Secured debt issued+$197.93 MOther financing activities: -$65,322,000.00Other financing, net−$65.32 MPayments for deferred financing costs and prepayment penalties: -$23,388,000.00Financing costs paid−$23.39 MDistributions to noncontrolling interests: -$301,029,000.00Paid to noncontrolling interests−$301.03 MNet increase (decrease) under unsecured credit facility and commercial paper: $0.00Net cash from financing activities: $4,905,351,000.00Financing cash+$4.91 Bfinancing reconciliation: $8,688,414,000.00Principal collected on loans receivable: $294,409,000.00Loan collections+$294.41 MCapitalized interest: -$58,115,000.00Capitalized interest−$58.12 MCash disbursed for capital improvements to existing properties: -$857,546,000.00Capital improvements−$857.55 MContributions to unconsolidated entities: -$264,561,000.00Joint venture investments−$264.56 MCash disbursed for acquisitions, net of cash acquired: -$3,525,449,000.00Real estate acquisitions−$3.53 BOther investments, net of payments: -$61,027,000.00Other investing, net−$61.03 MDistributions by unconsolidated entities: $52,391,000.00Equity-method return of capital+$52.39 MNet proceeds from net investment hedge settlements: $20,093,000.00Investing hedges, net+$20.09 MInvestment in loans receivable: -$623,501,000.00Loans made−$623.50 MCash disbursed for construction in progress: -$827,900,000.00Construction payments−$827.90 MProceeds from sales of real property: $336,525,000.00PP&E sales+$336.53 MNet cash used in investing activities: -$5,514,681,000.00. Cash required to fund net payments.Investing cash−$5.51 Binvesting reconciliation: $6,218,099,000.00Cash sources and uses: $9,237,855,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $2,076,083,000.00Beginning cash$2.08 BEnding cash: Cash, cash equivalents, and restricted cash: $3,711,457,000.00Ending cash$3.71 BExchange-rate effect: -$11,717,000.00FX effect−$11.72 MCASH RECONCILIATIONOperatingflowsFinancingflowsInvestingflowsFree cash flowNot availableCash flow / Net income2.32×Operating cash flow ÷ net incomeNet cash change+$1.64 BEnding cash − beginning cash
Chart details

WELLTOWER INC. cash flow reconciliation, Jan 1, 2024 through Dec 31, 2024

Cash flows for Jan 1, 2024 through Dec 31, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2023. Ending cash: Dec 31, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2023
2,076,083,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
2,256,421,000 US dollars. Net cash provided.
Loss (gain) on real estate dispositions and acquisitions of controlling interests, net
negative 451,611,000 US dollars
Rental income less than (in excess of) cash received
negative 15,859,000 US dollars
Provision for loan losses, net
10,125,000 US dollars
Depreciation and amortization
1,632,093,000 US dollars
Proceeds from (payments on) interest rate swap settlements
negative 59,555,000 US dollars
Stock-based compensation expense
75,821,000 US dollars
Loss (gain) on derivatives and financial instruments, net
negative 27,887,000 US dollars
Increase (decrease) in accrued expenses and other liabilities
26,541,000 US dollars
Loss (gain) on extinguishment of debt, net
2,130,000 US dollars
Distributions by unconsolidated entities
19,516,000 US dollars
Net income
972,857,000 US dollars
Loss (gain) on loss of control of subsidiary
0 US dollars
Other amortization expenses
47,759,000 US dollars
Decrease (increase) in receivables and other assets
negative 68,579,000 US dollars
Loss (income) from unconsolidated entities
496,000 US dollars
Impairment of assets
92,793,000 US dollars
Amortization related to above (below) market leases, net
negative 219,000 US dollars
Investing activities
negative 5,514,681,000 US dollars. Net cash used.
Principal collected on loans receivable
294,409,000 US dollars
Capitalized interest
negative 58,115,000 US dollars
Cash disbursed for capital improvements to existing properties
negative 857,546,000 US dollars
Contributions to unconsolidated entities
negative 264,561,000 US dollars
Cash disbursed for acquisitions, net of cash acquired
negative 3,525,449,000 US dollars
Other investments, net of payments
negative 61,027,000 US dollars
Distributions by unconsolidated entities
52,391,000 US dollars
Net proceeds from net investment hedge settlements
20,093,000 US dollars
Investment in loans receivable
negative 623,501,000 US dollars
Cash disbursed for construction in progress
negative 827,900,000 US dollars
Proceeds from sales of real property
336,525,000 US dollars
Financing activities
4,905,351,000 US dollars. Net cash provided.
Payments on secured debt
negative 498,049,000 US dollars
Contributions by noncontrolling interests
59,643,000 US dollars
Payments to extinguish senior unsecured notes
negative 1,350,000,000 US dollars
Net proceeds from the issuance of common stock
7,415,778,000 US dollars
Cash distributions to stockholders
negative 1,545,275,000 US dollars
Net carrying value included in senior unsecured notes
1,015,063,000 US dollars
Net proceeds from the issuance of secured debt
197,930,000 US dollars
Other financing activities
negative 65,322,000 US dollars
Payments for deferred financing costs and prepayment penalties
negative 23,388,000 US dollars
Distributions to noncontrolling interests
negative 301,029,000 US dollars
Net increase (decrease) under unsecured credit facility and commercial paper
0 US dollars
Operating adjustment reconciliation
1,907,274,000 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
8,688,414,000 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
6,218,099,000 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
negative 11,717,000 US dollars
Ending cash on Dec 31, 2024
3,711,457,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
9,237,855,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
1,635,374,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
2.32×. 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 $1.28B 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.
WELLTOWER INC. (WELL) FY2024 Annual Statement of Cash Flows Sankey chart
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