AHOTF 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	-91.11	-46.98	-81.49	-39.64	-15.61	-66.43
Depreciation & Amortization	25.56	29.54	34.95	37.95	43.09	43.42
Other Amortization	2.99	3.2	2.45	2.72	2.39	1.86
Gain (Loss) on Sale of Assets	3.43	-3.29	-1.69	-1.15	1.29	0.3
Gain (Loss) on Sale of Investments	0.35	-	4.08	-5.73	-3.27	5.42
Asset Writedown	56.49	29.87	86.43	49	12.4	13.6
Stock-Based Compensation	0.13	0.56	0.75	0.36	1.5	1.86
Change in Accounts Receivable	-3.83	-3.59	0.2	2.71	-2.2	5.29
Change in Accounts Payable	-16.52	-8.6	-8.79	2.61	-16.17	5.16
Change in Other Net Operating Assets	0.22	0.77	-2.23	0.15	0.56	-0.64
Other Operating Activities	24.26	9.24	-3.79	-4.08	-6.03	-6.28
Net Cash from Discontinued Operations	-	-	-	-	-0.43	-0.23
Operating Cash Flow	1.96	10.7	30.85	44.91	17.53	3.33
Operating Cash Flow Growth	-86.35%	-65.31%	-31.31%	156.26%	427.07%	-93.60%
Acquisition of Real Estate Assets	-0.98	-10.07	-32.26	-28.25	-6.21	-11.6
Sale of Real Estate Assets	184.32	165.06	11.7	47.54	-	7.03
Net Sale / Acq. of Real Estate Assets	183.34	154.99	-20.56	19.29	-6.21	-4.57
Other Investing Activities	-3.02	0.2	20.26	-4	-12.42	2.61
Investing Cash Flow	180.31	155.2	2.64	15.3	-18.63	-1.96
Long-Term Debt Issued	-	17.5	5	50	52.54	29.83
Long-Term Debt Repaid	-	-168.77	-16.07	-95.67	-78.86	-13.77
Total Debt Repaid	-313.71	-168.77	-16.07	-95.67	-78.86	-13.77
Net Debt Issued (Repaid)	-169.41	-151.27	-11.07	-45.67	-26.31	16.06
Common Dividends Paid	-	-	-11.83	-11.81	-2.97	-12.66
Other Financing Activities	-10.94	-4.58	-5.74	-4.47	24.94	-2.47
Net Cash Flow	-0.2	10.05	4.85	-1.76	-5.45	2.3
Cash Interest Paid	21.78	38.73	26.95	34.15	38.3	42.13
Cash Income Tax Paid	-	-	0.46	-	-	-
Levered Free Cash Flow	41.84	34.77	24.04	52.24	-3.06	30.71
Unlevered Free Cash Flow	58.53	56.34	47.33	69.16	16.66	56.23
Change in Working Capital	-20.14	-11.42	-10.82	5.48	-17.81	9.8

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.