FRA:1IK Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	126.43	161.66	165.59	154.39	113.99	65.73
Depreciation & Amortization	73.84	70.81	67.19	61.3	41.78	28.03
Other Amortization	1.89	1.67	1.37	1.35	2.85	2.04
Gain (Loss) on Sale of Assets	-	3.45	-	-3.6	-	-
Gain (Loss) on Sale of Investments	-0	-0.51	-3.2	-2.25	-0.34	-2.79
Stock-Based Compensation	11.75	17.32	19.58	17.51	8.62	3.33
Change in Accounts Payable	-1.52	6	3.92	2.72	3.1	1.22
Change in Other Net Operating Assets	0.09	0.13	0.35	-3.51	-3.69	-0.43
Other Operating Activities	-0.03	0.1	0.09	0.31	3.78	0.16
Operating Cash Flow	206.09	258.45	255.54	234.13	188.75	110.81
Operating Cash Flow Growth	-22.73%	1.14%	9.15%	24.04%	70.33%	146.62%
Acquisition of Real Estate Assets	-51.92	-81.75	-184.99	-523.97	-662.13	-530.03
Sale of Real Estate Assets	1.75	9.1	-	23.5	-	-
Net Sale / Acq. of Real Estate Assets	-50.17	-72.65	-184.99	-500.47	-662.13	-530.03
Investment in Marketable & Equity Securities	-85.18	17.45	182.19	126.2	294.73	-496.89
Other Investing Activities	-	-	-	-0.25	-0.63	-0.2
Investing Cash Flow	-136.14	-56	-6.79	-396.2	-384.09	-1,027
Long-Term Debt Issued	-	-	-	-	300	-
Long-Term Debt Repaid	-	-4.44	-	-	-	-
Net Debt Issued (Repaid)	41.3	-4.44	-	-	300	-
Issuance of Common Stock	-	11.76	9.56	351.96	-	1,004
Repurchase of Common Stock	-20.97	-0.75	-0.57	-2.44	-3.38	-2.17
Preferred Stock Issued	19.11	9.62	-	-	-	-
Common Dividends Paid	-216.75	-211.95	-202.71	-183.94	-130.95	-75.46
Preferred Dividends Paid	-2.79	-1.58	-1.35	-1.35	-1.35	-1.35
Total Dividends Paid	-219.54	-213.53	-204.06	-185.3	-132.31	-76.82
Other Financing Activities	-0.31	-0.57	-0.56	-	-8.55	-
Net Cash Flow	-110.46	4.55	53.13	2.15	-39.59	8.69
Cash Interest Paid	16.26	16.05	16.13	17.25	14.38	5.39
Levered Free Cash Flow	162.3	192.61	185.8	167.92	120.17	125.72
Unlevered Free Cash Flow	171.67	201.98	195.34	178.01	128.62	128.33
Change in Working Capital	-11.31	3.95	4.92	5.12	18.07	14.32

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