NiSource 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	1,013	844.7	674.4	791.8	588.8
Depreciation & Amortization	1,168	1,043	908.2	820.8	748.4
Stock-Based Compensation	50.9	43.6	33.5	24.9	24.3
Other Adjustments	260.6	118.1	119.1	140.3	116.8
Change in Receivables	-273.4	-101.5	184.1	-216.3	-40.3
Changes in Inventories	-60.3	102	233.9	-258.9	-112.9
Changes in Accounts Payable	131.8	71.5	-171.8	165	54.9
Changes in Accrued Expenses	67.9	9.5	-102.9	73.4	43
Changes in Other Operating Activities	4.6	-349.6	56.6	-131.6	-205.1
Operating Cash Flow	2,362	1,782	1,935	1,409	1,218
Operating Cash Flow Growth	32.60%	-7.94%	37.30%	15.72%	10.32%
Capital Expenditures	-2,782	-2,614	-2,646	-2,203	-1,838
Purchases of Investments	-93.9	-17.8	-42.8	-73.5	-102.9
Proceeds from Sale of Investments	39.3	93.2	39.9	75.7	97.8
Other Investing Activities	-1,687	-674.4	-922.9	-369.3	-362.5
Investing Cash Flow	-4,524	-3,213	-3,572	-2,570	-2,205
Short-Term Debt Issued	131.4	-794	1,286	1,202	57
Short-Term Debt Repaid	-	-1,650	-	-	-
Net Short-Term Debt Issued (Repaid)	131.4	-2,444	1,286	1,202	57
Long-Term Debt Issued	3,352	2,230	1,489	345.6	-
Long-Term Debt Repaid	-1,282	-25.6	-33.1	-60.3	-25.7
Net Long-Term Debt Issued (Repaid)	2,070	2,204	1,456	285.3	-25.7
Issuance of Common Stock	312.1	612.6	12.9	154.3	299.6
Net Common Stock Issued (Repurchased)	312.1	612.6	12.9	154.3	299.6
Repurchase of Preferred Stock	-	-500.1	-400.1	-	839.9
Net Preferred Stock Issued (Repurchased)	-	-500.1	-400.1	-	839.9
Common Dividends Paid	-530.4	-481	-413.5	-381.5	-345.2
Preferred Share Dividends Paid	-	-8.2	-43.8	-55.1	-55.1
Other Financing Activities	115.8	-34.2	1,945	-63.9	185.8
Financing Cash Flow	2,099	-651	3,842	1,141	956.3
Net Cash Flow	-62.9	-2,083	2,206	-19.5	-30.7
Free Cash Flow	-420	-832.5	-710.7	-793.7	-620.1
FCF Margin	-6.32%	-15.26%	-12.91%	-13.57%	-12.66%
Free Cash Flow Per Share	-0.89	-1.83	-1.59	-1.79	-1.49
Levered Free Cash Flow	1,660	-1,238	1,682	702.1	-748.6
Unlevered Free Cash Flow	57.11	-511.37	-648.34	-486.45	-470.66

Updated Dec 31, 2025. Data Source: Fiscal.ai. Utilities template. Financial Sources.