Merchants Bancorp Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	320.39	279.23	219.72	227.1
Depreciation & Amortization	12.92	10.47	13.47	18.88
Gain (Loss) on Sale of Investments	0.11	-	-	-0.19
Provision for Credit Losses	24.28	40.23	17.3	5.01
Net Decrease (Increase) in Loans Originated / Sold - Operating	-698.24	-576.8	430.11	49.56
Change in Other Net Operating Assets	-351.37	-0.07	398.56	-233.3
Other Operating Activities	-81.08	-61.29	-39.23	-5.1
Operating Cash Flow	-835.28	-356.4	975.77	-49.22
Capital Expenditures	-18.39	-7.53	-6.76	-3.65
Investment in Securities	145.75	-904.54	-1,157	-55.11
Divestitures	-170.59	-	-	-0.46
Purchase / Sale of Intangibles	-	-	-2.06	0.44
Net Decrease (Increase) in Loans Originated / Sold - Investing	-702.06	-2,341	-1,692	-456.95
Other Investing Activities	-128.99	-7.51	-5.15	41.47
Investing Cash Flow	-874.28	-3,260	-2,863	-474.26
Long-Term Debt Issued	166,324	95,789	65,782	31,473
Total Debt Issued	166,324	95,789	65,782	31,473
Long-Term Debt Repaid	-162,903	-95,756	-65,885	-31,788
Total Debt Repaid	-162,903	-95,756	-65,885	-31,788
Net Debt Issued (Repaid)	3,421	33.13	-103.56	-314.3
Issuance of Common Stock	97.66	-	-	-
Repurchase of Common Stock	-	-	-3.94	-
Preferred Stock Issued	222.75	-	137.46	191.08
Preferred Share Repurchases	-177.04	-	-	-41.63
Common Dividends Paid	-16.26	-13.84	-12.08	-10.36
Preferred Dividends Paid	-34.91	-34.67	-25.98	-20.87
Total Dividends Paid	-51.17	-48.51	-38.07	-31.24
Net Increase (Decrease) in Deposit Accounts	-1,912	3,990	1,089	1,572
Financing Cash Flow	1,602	3,975	1,081	1,376
Net Cash Flow	-107.81	358.26	-806.45	852.89
Free Cash Flow	-853.67	-363.93	969.01	-52.86
Free Cash Flow Margin	-132.05%	-69.65%	226.83%	-12.28%
Free Cash Flow Per Share	-18.97	-8.40	22.37	-1.22
Cash Interest Paid	789.05	609.69	140.37	33.9
Cash Income Tax Paid	79.58	67.39	66.51	78.76

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