Starwood Property Trust Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	411.54	359.93	339.21	871.48	447.74
Depreciation & Amortization	84.83	46.26	54.3	53.94	84.59
Other Amortization	58.57	59.78	59.83	56.44	50.28
Loss (Gain) From Sale of Investments	442.98	-182.76	-191.77	-1,172	-162.71
Asset Writedown & Restructuring Costs	26.77	-	124.9	0.06	-
Provision for Credit Losses	-165.07	121.52	181.03	392.88	-60.72
Loss (Gain) on Equity Investments	-3.69	-8.06	-7.88	11.68	-4.04
Stock-Based Compensation	65.58	62.85	54.57	83.33	56.33
Net Decrease (Increase) in Loans Originated / Sold - Operating	361.81	202.89	199.73	-284.45	-1,341
Change in Accounts Payable	-50.16	104.99	-17.99	171.37	40.7
Change in Other Net Operating Assets	15.85	-82.11	-62.15	8.93	8.76
Other Operating Activities	-167.32	31.73	-49.36	221.96	26.88
Operating Cash Flow	977.85	646.59	528.6	213.74	-989.98
Operating Cash Flow Growth	51.23%	22.32%	147.31%	-	-
Capital Expenditures	-269.04	-27.94	-25.09	-25.23	-26.27
Cash Acquisitions	0.73	4.4	0.82	0.62	-
Investment in Securities	301.74	188.22	90.19	32.35	-109.87
Net Decrease (Increase) in Loans Originated / Sold - Investing	-3,047	1,670	714.95	-3,346	-4,268
Other Investing Activities	-864.13	32.2	0.63	183.8	24.31
Investing Cash Flow	-3,776	2,084	855.07	-2,950	-4,282
Long-Term Debt Issued	14,667	7,217	6,560	13,521	17,506
Long-Term Debt Repaid	-11,596	-9,431	-7,522	-10,178	-12,697
Net Debt Issued (Repaid)	3,072	-2,214	-962.38	3,343	4,810
Issuance of Common Stock	567.81	395.49	3	50.44	394.09
Common Dividends Paid	-668.86	-620	-601.19	-591.46	-553.93
Other Financing Activities	-51.16	-47.82	106.01	-3.94	223.29
Financing Cash Flow	2,920	-2,486	-1,455	2,798	4,873
Foreign Exchange Rate Adjustments	-0.31	-2.62	0.73	-1.1	-1.72
Net Cash Flow	120.65	242.02	-70.16	60.22	-400.25
Free Cash Flow	708.81	618.65	503.51	188.52	-1,016
Free Cash Flow Growth	14.57%	22.87%	167.09%	-	-
Free Cash Flow Margin	129.36%	154.37%	136.06%	30.35%	-141.69%
Free Cash Flow Per Share	2.02	1.93	1.62	0.60	-3.42
Cash Interest Paid	1,189	1,294	1,352	671.19	386.92
Cash Income Tax Paid	0.7	4.01	1.67	-7.86	7.79

Source: S&P Global Market Intelligence. Financial Services template. Financial Sources.