FRA:5O4 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	-48.65	1.11	44.26	-9.26	23.04	44.02
Depreciation & Amortization	96.58	97.76	95.19	97.65	86.88	82.41
Other Amortization	29.16	27.32	5.35	11.51	3.13	4.35
Gain (Loss) on Sale of Assets	-3.85	-54.25	-67.93	-14.68	-46.21	-69.15
Stock-Based Compensation	9.98	10.54	9.29	7.9	7	5.5
Income (Loss) on Equity Investments	-0.21	-0.17	-0.21	-	-	-
Change in Accounts Receivable	-1.86	-4.01	-8.09	-10.65	-3.1	-
Change in Other Net Operating Assets	2.57	-7.39	4.69	3.78	1.4	-7.8
Other Operating Activities	1.47	5.89	1.37	-9.2	-3.14	-4.82
Operating Cash Flow	83.93	73.57	96.58	79.1	73.27	57.23
Operating Cash Flow Growth	2.39%	-23.82%	22.11%	7.95%	28.03%	11.41%
Acquisition of Real Estate Assets	-40.57	-37.26	-71.42	-202.9	-333.34	-134.74
Sale of Real Estate Assets	24.1	165.7	118.19	36.46	90.24	140.2
Net Sale / Acq. of Real Estate Assets	-16.48	128.45	46.78	-166.44	-243.11	5.45
Other Investing Activities	1.82	2.17	5.14	4.14	7.2	6.05
Investing Cash Flow	-14.66	130.62	51.92	-162.3	-235.91	11.5
Long-Term Debt Issued	-	1,434	42.79	940.83	494.63	81.46
Total Debt Issued	1,434	1,434	42.79	940.83	494.63	81.46
Long-Term Debt Repaid	-	-1,541	-149.08	-820.44	-284.56	-141.91
Total Debt Repaid	-1,429	-1,541	-149.08	-820.44	-284.56	-141.91
Net Debt Issued (Repaid)	4.84	-107.53	-106.29	120.38	210.07	-60.45
Issuance of Common Stock	-	-	-	3.97	25.59	57.72
Repurchase of Common Stock	-7.66	-16.08	-1.72	-14.25	-1.49	-46.26
Common Dividends Paid	-53.05	-49.3	-44.8	-40.64	-35.8	-32.3
Other Financing Activities	-24.01	-22.64	-2.22	-23.16	-4.05	-1.61
Net Cash Flow	-10.61	8.64	-6.52	-36.9	31.68	-14.17
Cash Interest Paid	88.81	105.99	109.05	52.67	27.39	34.17
Levered Free Cash Flow	146.04	219.87	85.67	8.54	79.08	126.52
Unlevered Free Cash Flow	154.7	229.1	122.26	28.64	103.84	150.14
Change in Working Capital	-2.3	-18.37	0.6	-12.83	-1.35	-7.8

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