Polaris Renewable Energy 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	-11.36	2.99	11.74	2.5	0.5	28.84
Depreciation & Amortization	29.96	29.44	29.17	25.59	26.38	24.76
Loss (Gain) on Sale of Assets	-	-	-	-	-1.45	-
Asset Writedown	5.28	5.28	-	-	-	-24.45
Stock-Based Compensation	0.48	0.35	0.35	0.38	0.64	0.89
Change in Accounts Receivable	1.37	-0.65	0.61	-0.22	10.07	-4.09
Change in Accounts Payable	-2	-1.84	-1.15	-4.25	-0.55	-0.25
Change in Other Net Operating Assets	-0.38	-0.53	0.53	-1.89	-1.59	-0.33
Other Operating Activities	15.81	0.83	2.66	11.46	7.08	14.91
Operating Cash Flow	38.32	35.05	43.96	33.51	41.13	40.31
Operating Cash Flow Growth	6.03%	-20.26%	31.20%	-18.53%	2.03%	-14.40%
Capital Expenditures	-0.52	-3.36	-11.39	-32.48	-8.41	-6.89
Sale of Property, Plant & Equipment	-	-	-	-	0.32	-
Cash Acquisitions	-14.67	-	-	-32.71	-	-
Other Investing Activities	-	0.05	0.01	-0.81	-2.05	4.04
Investing Cash Flow	-15.18	-3.31	-11.38	-65.99	-10.15	-2.85
Long-Term Debt Issued	-	175	-	110	-	-
Long-Term Debt Repaid	-	-16.27	-15.35	-118.54	-21.33	-24.02
Net Debt Issued (Repaid)	52.97	158.73	-15.35	-8.54	-21.33	-24.02
Issuance of Common Stock	-	-	0.47	-	39.35	23.46
Repurchase of Common Stock	-0.92	-0.21	-0.21	-	-	-
Common Dividends Paid	-12.63	-12.64	-12.62	-12.11	-11.14	-9.42
Other Financing Activities	-9.8	-4.36	-	-9.47	-	-
Financing Cash Flow	29.63	141.51	-27.71	-30.13	6.89	-9.99
Foreign Exchange Rate Adjustments	0	0	-0.14	0.01	-0	0
Miscellaneous Cash Flow Adjustments	-	-	-	-	-	-0.01
Net Cash Flow	52.77	173.25	4.73	-62.61	37.87	27.46
Free Cash Flow	37.8	31.69	32.57	1.02	32.72	33.42
Free Cash Flow Growth	29.99%	-2.71%	3080.96%	-96.87%	-2.11%	-
Free Cash Flow Margin	47.41%	41.82%	41.48%	1.64%	54.97%	44.73%
Free Cash Flow Per Share	1.79	1.50	1.55	0.05	1.72	1.98
Cash Interest Paid	15.38	16.57	17.78	10.85	11.81	10.3
Levered Free Cash Flow	45.09	29.92	24.31	-3.34	26.63	18.15
Unlevered Free Cash Flow	59.23	42.93	37.15	6.25	36.82	28.26
Change in Working Capital	-1.01	-3.02	-0.02	-6.36	7.92	-4.66

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