ADLRF Cash Flow Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	90.81	234.42	138.45	130.68	144.24
Depreciation & Amortization	0.51	0.55	0.23	0.22	0.21
Loss (Gain) From Sale of Assets	-	-30.26	-	-	-
Loss (Gain) From Sale of Investments	-96.62	-99.28	-78.68	-2.19	-63.2
Stock-Based Compensation	8.44	7.09	4.19	2.76	5.36
Provision & Write-off of Bad Debts	-	-	-	-	-4.03
Other Operating Activities	-124.01	-55.22	29.03	17.39	36.96
Change in Accounts Receivable	3.16	-10.79	-0.28	0.49	-2.2
Change in Accounts Payable	-4.54	10.94	-1.54	1.47	2.81
Change in Income Taxes	-2.45	1.93	-8.49	9.06	-16
Change in Other Net Operating Assets	-	-	0.07	-7.45	-
Operating Cash Flow	-124.71	59.37	82.96	152.42	104.16
Operating Cash Flow Growth	-	-28.44%	-45.57%	46.33%	44.94%
Investment in Securities	-	-	-93.1	5.95	-238.15
Other Investing Activities	-	-	-5.22	8.9	9.16
Investing Cash Flow	-	-	-98.32	14.85	-228.99
Long-Term Debt Issued	197.93	-	130.48	204.72	318.13
Long-Term Debt Repaid	-0.15	-0.2	-97.43	-267.84	-219.78
Net Debt Issued (Repaid)	197.77	-0.2	33.05	-63.12	98.35
Issuance of Common Stock	-	-	-	-	94.55
Repurchase of Common Stock	-8.95	-	-	-	-
Common Dividends Paid	-61.89	-61.92	-61.8	-59.72	-54.84
Other Financing Activities	-	-	-1.17	-2.32	-9.59
Financing Cash Flow	126.94	-62.12	-29.91	-125.16	128.47
Foreign Exchange Rate Adjustments	-0.04	0.21	0.27	-0.36	-1.68
Miscellaneous Cash Flow Adjustments	-	-8.44	-	-	-
Net Cash Flow	2.19	-10.99	-45.01	41.75	1.95
Free Cash Flow	-124.71	59.37	82.96	152.42	104.16
Free Cash Flow Growth	-	-28.44%	-45.57%	46.33%	44.94%
Free Cash Flow Margin	-70.58%	38.30%	34.39%	76.95%	49.40%
Free Cash Flow Per Share	-2.31	1.29	1.66	3.06	2.15
Cash Interest Paid	7.53	4.06	25.08	22.16	20.52
Cash Income Tax Paid	4.14	0.01	22.07	-3.01	14.27
Levered Free Cash Flow	98.69	110.64	102.45	114.74	86.34
Unlevered Free Cash Flow	104.39	113.51	122.16	132.36	101.96
Change in Working Capital	-3.83	2.08	-10.24	3.57	-15.39

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