Sun Communities 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	1,015	89	-213.3	242	380.2	131.6
Depreciation & Amortization	676.3	667.1	642	576.1	508.8	367
Gain (Loss) on Sale of Assets	-213.6	-213.6	-20.1	-39.5	-157.4	-20.8
Gain (Loss) on Sale of Investments	-6.6	-6.6	20.2	56.1	-33.3	-4.5
Asset Writedown	252.2	252.2	380	3	-	-
Stock-Based Compensation	41.6	41.6	42.9	37.6	28	23
Income (Loss) on Equity Investments	-9.5	-9.5	-16	-2.9	2.2	2.4
Change in Accounts Receivable	-47.7	-47.7	-7.9	5.2	-1.2	-0.2
Change in Other Net Operating Assets	26.5	26.5	-26.2	62.6	46.5	21.6
Other Operating Activities	-950.1	30.3	99.2	68.7	55.8	18
Operating Cash Flow	832.9	861	790.5	734.9	753.6	543.3
Operating Cash Flow Growth	-1.24%	8.92%	7.57%	-2.48%	38.71%	13.96%
Acquisition of Real Estate Assets	-637.3	-652.9	-1,003	-921	-672.6	-538.5
Sale of Real Estate Assets	216.1	443.5	72.2	143.5	275.9	68
Net Sale / Acq. of Real Estate Assets	-421.2	-209.4	-930.8	-777.5	-396.7	-470.5
Cash Acquisition	-44.3	-68.8	-53.3	-2,214	-1,649	-1,946
Investment in Marketable & Equity Securities	3.7	5.4	81.5	-33.8	-55.5	-36.6
Other Investing Activities	5,744	5.4	-16.9	-37.8	-237.3	-33.4
Investing Cash Flow	5,282	-267.4	-919.5	-3,063	-2,338	-2,487
Long-Term Debt Issued	-	3,131	2,524	4,533	4,965	2,078
Long-Term Debt Repaid	-	-3,556	-1,950	-2,905	-4,038	-1,592
Net Debt Issued (Repaid)	-3,415	-425	574.2	1,628	926.9	485.7
Issuance of Common Stock	0.1	361.1	-	1,210	1,076	1,863
Repurchase of Common Stock	-511	-9.8	-12.8	-19.3	-18.2	-12.8
Common Dividends Paid	-514.3	-492.7	-476.4	-434.2	-390.8	-313.1
Total Dividends Paid	-514.3	-492.7	-476.4	-434.2	-390.8	-313.1
Other Financing Activities	-38.4	-5.2	-4.7	-35.3	-23.2	-22.4
Foreign Exchange Rate Adjustments	0.1	-0.8	1	-8.7	-0.2	0.2
Net Cash Flow	1,115	21.2	-47.7	12.2	-14.4	57.8
Cash Interest Paid	278	342.2	330	222.5	151.2	140.2
Cash Income Tax Paid	5	3.4	20.5	5.8	1.3	1.1
Levered Free Cash Flow	238.1	854.76	920.96	706.98	606.98	447.42
Unlevered Free Cash Flow	403.79	1,074	1,127	853.23	708.73	530.74
Change in Working Capital	10.5	10.5	-144.4	-206.2	-30.7	26.6

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