NorthWestern Energy Group 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	216.95	224.11	194.13	183.01	186.84	155.22
Depreciation & Amortization	244.62	227.64	210.47	195.02	187.47	179.64
Other Amortization	4.55	4.65	5.14	5.32	5.25	4.91
Loss (Gain) on Sale of Assets	-0.19	-0.06	0.32	0.48	-0.05	0.04
Loss (Gain) on Sale of Investments	-	4.16	-	-	-	-
Stock-Based Compensation	5.48	4.72	5.18	5.49	5.35	4.15
Change in Accounts Receivable	-13.37	24.49	32.7	-46.28	-30.44	-0.82
Change in Inventory	-10.06	-8.4	-7.18	-26.74	-19.6	-7.09
Change in Accounts Payable	-3.78	7.4	-54.72	50.54	7.49	16.04
Change in Other Net Operating Assets	-40.39	-54.36	114.23	-36.41	-111.76	14.53
Other Operating Activities	-2.7	-27.6	-11.03	-23.18	-10.57	-14.47
Operating Cash Flow	401.11	406.74	489.23	307.24	219.98	352.15
Operating Cash Flow Growth	-1.26%	-16.86%	59.23%	39.67%	-37.53%	18.68%
Capital Expenditures	-523.27	-549.24	-566.89	-515.14	-434.33	-405.76
Cash Acquisitions	-35.94	-	-	-	-	-
Investment in Securities	-8.21	-4.72	-3.92	-1.72	-1.51	-0.04
Other Investing Activities	-0.5	-0.5	-	-	-	-
Investing Cash Flow	-567.92	-554.46	-570.81	-516.86	-435.83	-405.8
Short-Term Debt Issued	-	100	-	-	-	100
Long-Term Debt Issued	-	310	300	77	250.92	150
Total Debt Issued	645	410	300	77	250.92	250
Short-Term Debt Repaid	-	-	-	-	-100	-
Long-Term Debt Repaid	-	-100	-132	-	-0.96	-67
Total Debt Repaid	-312	-100	-132	-	-100.96	-67
Net Debt Issued (Repaid)	333	310	168	77	149.96	183
Issuance of Common Stock	1.19	1.19	74.68	277.57	196.95	-
Repurchase of Common Stock	-	-	-	-	-	-1.39
Common Dividends Paid	-160.68	-158.59	-154.05	-140.06	-128.48	-120.35
Other Financing Activities	-4.13	-1.05	-4.33	-1.19	-0.91	-2.58
Financing Cash Flow	169.39	151.55	84.31	213.32	217.52	58.68
Net Cash Flow	2.58	3.83	2.72	3.7	1.67	5.03
Free Cash Flow	-122.15	-142.5	-77.66	-207.9	-214.35	-53.61
Free Cash Flow Margin	-7.78%	-9.41%	-5.46%	-14.07%	-15.62%	-4.47%
Free Cash Flow Per Share	-1.99	-2.32	-1.29	-3.69	-4.13	-1.06
Cash Interest Paid	143.93	128.33	105.24	95.4	87.22	84.92
Cash Income Tax Paid	-	-4.28	-0.83	4.71	4.33	0.12
Levered Free Cash Flow	-191.79	-239.51	-141.3	-201.06	-245.48	-104.05
Unlevered Free Cash Flow	-104.74	-161.86	-74.8	-143.81	-192.18	-48.45
Change in Working Capital	-67.6	-30.87	85.02	-58.89	-154.32	22.66

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