TC S.A. Cash Flow Statement

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

Millions BRL. 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	-85.95	-85.7	-243.26	-82.26	1.2
Depreciation & Amortization	2.68	10.99	24.78	17.33	4.82
Other Amortization	5.63	-	-	-	3.72
Loss (Gain) From Sale of Assets	-	9.81	-	-	-
Asset Writedown & Restructuring Costs	12.1	8.15	12.56	3.88	-
Loss (Gain) From Sale of Investments	29.03	23.64	122.2	-	-
Loss (Gain) on Equity Investments	-0.37	-2.29	0.21	0.54	-0
Stock-Based Compensation	-	-	-	0.58	1.96
Provision & Write-off of Bad Debts	15.5	1.33	0.56	-	-
Other Operating Activities	-0.43	-1.26	25.38	18.37	-19.36
Change in Accounts Receivable	0.93	4.93	-2.51	5.69	-8.11
Change in Accounts Payable	-4.18	-1.54	1.97	-9.71	4.74
Change in Unearned Revenue	0.28	-3.15	0.63	-1.47	2.29
Change in Income Taxes	-2.18	-1.83	-10.19	-0.2	-7.7
Change in Other Net Operating Assets	0.94	-9.65	-5.68	-9.88	-4.34
Operating Cash Flow	-34.97	-46.55	-73.35	-57.14	-20.78
Capital Expenditures	-0.29	-	-1.18	-1.17	-14.43
Sale of Property, Plant & Equipment	-	5.08	-	-	-
Cash Acquisitions	-	-	-	-8.26	2.89
Sale (Purchase) of Intangibles	-0.27	-4.87	-13.29	-31.86	-14.34
Investment in Securities	23.64	-	-	-26.18	-113.85
Other Investing Activities	-0.97	0.11	28.38	-37.95	-87.46
Investing Cash Flow	22.11	0.31	13.91	-105.41	-227.18
Long-Term Debt Repaid	-0.09	-1.45	-3.88	-4.7	-2.77
Net Debt Issued (Repaid)	-0.09	-1.45	-3.88	-4.7	-2.77
Issuance of Common Stock	-	-	-	-	576.16
Repurchase of Common Stock	-	-	-4.18	-	-13.18
Common Dividends Paid	-	-	-0.71	-	-
Other Financing Activities	-11.03	-2.66	4.05	-3.58	-
Financing Cash Flow	-11.11	-4.11	-4.73	-8.28	560.21
Net Cash Flow	-23.97	-50.35	-64.16	-170.82	312.25
Free Cash Flow	-35.27	-46.55	-74.52	-58.3	-35.21
Free Cash Flow Margin	-157.90%	-195.03%	-138.04%	-70.72%	-38.44%
Free Cash Flow Per Share	-0.89	-1.18	-1.89	-1.45	-0.99
Levered Free Cash Flow	-82.36	-64.99	-106.19	-85.07	-38.72
Unlevered Free Cash Flow	-82.24	-64.47	-105.99	-84.27	-37.84
Change in Working Capital	-4.21	-11.24	-15.78	-15.57	-13.12

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