Phillips Edison & Company 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	81.92	62.69	56.85	48.32	15.12	4.77
Depreciation & Amortization	255.86	245.03	231.27	229.2	217.85	221.51
Other Amortization	4.56	4.47	4.24	3.41	4.42	4.98
Gain (Loss) on Sale of Assets	-9.8	0.03	-1.11	-7.52	-30.42	-6.49
Gain (Loss) on Sale of Investments	-	-	3	-	-	-
Asset Writedown	1.4	1.4	-	3.02	6.75	2.78
Stock-Based Compensation	11.25	9.7	6.87	15.41	16.39	5.86
Income (Loss) on Equity Investments	0.65	0.35	0.27	1.25	2.7	1.96
Change in Accounts Payable	13.34	26.36	2.11	9.96	8.51	-8.94
Change in Other Net Operating Assets	-22.91	-16.62	-11.52	-10.15	-4.5	-6.95
Other Operating Activities	-0.17	1.31	-1	-2.02	26.08	-8.9
Operating Cash Flow	336.09	334.71	290.97	290.89	262.9	210.58
Operating Cash Flow Growth	4.15%	15.03%	0.03%	10.65%	24.85%	-7.18%
Acquisition of Real Estate Assets	-508.45	-391.37	-365.52	-386.5	-383.39	-105.45
Sale of Real Estate Assets	15.15	-	7.21	52.02	206.38	57.9
Net Sale / Acq. of Real Estate Assets	-493.3	-391.37	-358.32	-334.48	-177.02	-47.55
Investment in Marketable & Equity Securities	-16.07	-4.81	2.37	1.15	-3.48	3.45
Other Investing Activities	0.73	3.24	2.56	2.08	-	-
Investing Cash Flow	-508.63	-392.94	-353.39	-331.25	-180.49	-44.09
Long-Term Debt Issued	-	1,157	561	376	831.02	255
Long-Term Debt Repaid	-	-1,023	-502.5	-378.92	-1,239	-319.98
Net Debt Issued (Repaid)	267.31	133.58	58.5	-2.92	-407.7	-64.98
Issuance of Common Stock	74.55	74.55	149.14	90.12	547.4	-
Repurchase of Common Stock	-	-	-	-	-77.77	-5.27
Common Dividends Paid	-155.29	-134.02	-135.75	-127.08	-106.7	-49.33
Other Financing Activities	-17.53	-16.1	-17.94	-17.95	-54.06	-10.08
Net Cash Flow	-3.52	-0.23	-8.47	-98.18	-16.41	36.83
Cash Interest Paid	98.91	75.04	76.48	65.1	68.09	78.52
Cash Income Tax Paid	0.92	0.92	0.69	0.19	0.56	0.95
Levered Free Cash Flow	175.1	269.7	206.64	158.99	193.9	192.81
Unlevered Free Cash Flow	232.63	319.96	250.03	200.07	237.21	241.14
Change in Working Capital	-9.57	9.74	-9.41	-0.19	4.01	-15.89

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