B Communications Cash Flow Statement

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

Millions ILS. 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	1,827	108	187	158	129
Depreciation & Amortization	1,675	1,620	1,769	1,745	1,889
Other Amortization	177	144	-	-	-
Loss (Gain) From Sale of Assets	-1,559	-8	-2	-8	-175
Asset Writedown & Restructuring Costs	-165	80	98	123	-
Loss (Gain) on Equity Investments	19	8	-	-	-
Stock-Based Compensation	22	21	10	12	27
Other Operating Activities	1,238	1,296	1,331	1,243	1,362
Change in Accounts Receivable	-38	69	-10	342	-229
Change in Inventory	54	-109	-15	-21	-19
Change in Accounts Payable	129	147	62	-39	-41
Change in Other Net Operating Assets	-137	33	12	-64	-117
Operating Cash Flow	3,242	3,409	3,442	3,491	2,826
Operating Cash Flow Growth	-4.90%	-0.96%	-1.40%	23.53%	-11.94%
Capital Expenditures	-1,265	-1,356	-1,333	-1,353	-1,328
Sale of Property, Plant & Equipment	40	16	39	40	278
Cash Acquisitions	28	-	-14	-9	-
Divestitures	2,704	-	-	-	-
Sale (Purchase) of Intangibles	-413	-390	-375	-346	-363
Investment in Securities	-192	-679	-245	223	-164
Other Investing Activities	115	89	93	25	-1
Investing Cash Flow	1,017	-2,320	-1,835	-1,420	-1,578
Long-Term Debt Issued	1,216	1,648	1,015	400	1,730
Long-Term Debt Repaid	-3,660	-1,520	-1,893	-1,836	-2,459
Net Debt Issued (Repaid)	-2,444	128	-878	-1,436	-729
Repurchase of Common Stock	-3	-20	-23	-121	-16
Other Financing Activities	751	-917	-814	-758	-399
Financing Cash Flow	-1,696	-809	-1,715	-2,315	-1,144
Foreign Exchange Rate Adjustments	-	-	-2	-	-
Miscellaneous Cash Flow Adjustments	-615	-28	-	-	-
Net Cash Flow	1,948	252	-110	-244	104
Free Cash Flow	1,977	2,053	2,109	2,138	1,498
Free Cash Flow Growth	-3.70%	-2.66%	-1.36%	42.72%	-27.84%
Free Cash Flow Margin	22.72%	23.11%	23.17%	23.79%	16.98%
Free Cash Flow Per Share	19.01	19.37	19.90	19.09	12.91
Cash Interest Paid	311	304	312	307	333
Cash Income Tax Paid	440	244	269	271	385
Levered Free Cash Flow	503.25	1,155	1,284	1,406	885.63
Unlevered Free Cash Flow	759.5	1,432	1,538	1,626	1,158
Change in Working Capital	8	140	49	218	-406

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