FRA:AIV 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	243.67	-102.47	-166.2	75.73	-5.91	-5.04
Depreciation & Amortization	73.37	86.36	68.83	73.27	84.71	77.97
Other Amortization	-	-	-	-	1.38	0.37
Gain (Loss) on Sale of Assets	-10.6	-10.6	-7.98	-175.86	-	-
Gain (Loss) on Sale of Investments	6.72	47.75	-1.82	-68.51	-13.09	1.06
Asset Writedown	57.37	-	-	85.7	-	15.86
Stock-Based Compensation	5.85	6.49	9.22	7.47	5.27	-
Income (Loss) on Equity Investments	-1.7	1.36	-0.88	-0.58	-0.97	-0.81
Change in Other Net Operating Assets	-11.94	-0.87	-6.15	169.27	-15.73	-3.1
Other Operating Activities	38.77	18.96	155.44	37.75	-43.08	-38.46
Operating Cash Flow	23.25	46.98	50.47	204.23	12.59	47.85
Operating Cash Flow Growth	-57.01%	-6.90%	-75.29%	1522.69%	-73.69%	-17.41%
Acquisition of Real Estate Assets	-120.03	-160.03	-276.61	-366.77	-247.41	-131.8
Sale of Real Estate Assets	659.8	186.2	9.25	259.98	-	-
Net Sale / Acq. of Real Estate Assets	539.77	26.18	-267.35	-106.79	-247.41	-131.8
Investment in Marketable & Equity Securities	5.38	5.38	0.42	-13.42	-23.27	-
Other Investing Activities	1.62	-0.96	6.53	-0.55	-0.73	2.47
Investing Cash Flow	546.77	30.6	-260.4	-120.75	-271.41	-129.33
Long-Term Debt Issued	-	330.54	174.45	849.43	224.93	40
Long-Term Debt Repaid	-	-270.71	-88.67	-1,001	-35.24	-84.19
Net Debt Issued (Repaid)	-100.57	59.83	85.78	-151.75	189.69	-44.19
Repurchase of Common Stock	-8.44	-38.95	-46.84	-23.49	-	-
Other Financing Activities	-57.83	-64.78	80.5	79.99	14.98	414.29
Net Cash Flow	314.96	33.69	-90.5	-14.82	-54.15	288.62
Cash Interest Paid	47.55	47.55	32.8	45.17	43.8	22.15
Cash Income Tax Paid	0.93	0.93	1.71	22.93	2.94	9.22
Levered Free Cash Flow	210.91	-173.96	-203.7	-205.89	-111.13	22.24
Unlevered Free Cash Flow	256.58	-130.18	-180.12	-159.74	-79.45	39.06
Change in Working Capital	-11.94	-0.87	-6.15	169.27	-15.73	-3.1

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