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	2015 - 2019
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	2015 - 2019
Net Income	81.92	62.69	56.85	48.32	15.12	4.77	Upgrade
Depreciation & Amortization	255.86	245.03	231.27	229.2	217.85	221.51	Upgrade
Other Amortization	4.56	4.47	4.24	3.41	4.42	4.98	Upgrade
Gain (Loss) on Sale of Assets	-9.8	0.03	-1.11	-7.52	-30.42	-6.49	Upgrade
Gain (Loss) on Sale of Investments	-	-	3	-	-	-	Upgrade
Asset Writedown	1.4	1.4	-	3.02	6.75	2.78	Upgrade
Stock-Based Compensation	11.25	9.7	6.87	15.41	16.39	5.86	Upgrade
Income (Loss) on Equity Investments	0.65	0.35	0.27	1.25	2.7	1.96	Upgrade
Change in Accounts Payable	13.34	26.36	2.11	9.96	8.51	-8.94	Upgrade
Change in Other Net Operating Assets	-22.91	-16.62	-11.52	-10.15	-4.5	-6.95	Upgrade
Other Operating Activities	-0.17	1.31	-1	-2.02	26.08	-8.9	Upgrade
Operating Cash Flow	336.09	334.71	290.97	290.89	262.9	210.58	Upgrade
Operating Cash Flow Growth	4.15%	15.03%	0.03%	10.65%	24.85%	-7.18%	Upgrade
Acquisition of Real Estate Assets	-508.45	-391.37	-365.52	-386.5	-383.39	-105.45	Upgrade
Sale of Real Estate Assets	15.15	-	7.21	52.02	206.38	57.9	Upgrade
Net Sale / Acq. of Real Estate Assets	-493.3	-391.37	-358.32	-334.48	-177.02	-47.55	Upgrade
Investment in Marketable & Equity Securities	-16.07	-4.81	2.37	1.15	-3.48	3.45	Upgrade
Other Investing Activities	0.73	3.24	2.56	2.08	-	-	Upgrade
Investing Cash Flow	-508.63	-392.94	-353.39	-331.25	-180.49	-44.09	Upgrade
Long-Term Debt Issued	-	1,157	561	376	831.02	255	Upgrade
Long-Term Debt Repaid	-	-1,023	-502.5	-378.92	-1,239	-319.98	Upgrade
Net Debt Issued (Repaid)	267.31	133.58	58.5	-2.92	-407.7	-64.98	Upgrade
Issuance of Common Stock	74.55	74.55	149.14	90.12	547.4	-	Upgrade
Repurchase of Common Stock	-	-	-	-	-77.77	-5.27	Upgrade
Common Dividends Paid	-155.29	-134.02	-135.75	-127.08	-106.7	-49.33	Upgrade
Other Financing Activities	-17.53	-16.1	-17.94	-17.95	-54.06	-10.08	Upgrade
Net Cash Flow	-3.52	-0.23	-8.47	-98.18	-16.41	36.83	Upgrade
Cash Interest Paid	98.91	75.04	76.48	65.1	68.09	78.52	Upgrade
Cash Income Tax Paid	0.92	0.92	0.69	0.19	0.56	0.95	Upgrade
Levered Free Cash Flow	175.1	269.7	206.64	158.99	193.9	192.81	Upgrade
Unlevered Free Cash Flow	232.63	319.96	250.03	200.07	237.21	241.14	Upgrade
Change in Working Capital	-9.57	9.74	-9.41	-0.19	4.01	-15.89	Upgrade

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