Horizon Kinetics Holding 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
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	95.35	92.47	-4.49	38.6
Depreciation & Amortization	1.46	1.92	1.83	1.86
Loss (Gain) From Sale of Investments	-882.5	-882.5	-78.97	-18.15
Loss (Gain) on Equity Investments	-6.04	-6.04	2.45	-7.77
Provision & Write-off of Bad Debts	3.07	3.07	0.7	-
Other Operating Activities	753.57	785.08	92.06	0.44
Change in Accounts Receivable	-5.06	-5.06	5.54	7.24
Change in Accounts Payable	24.92	24.92	-0.07	-0.22
Change in Unearned Revenue	-	-	-	-1.95
Change in Other Net Operating Assets	-2.02	-2.02	6.44	-0.69
Operating Cash Flow	-17.26	11.84	25.48	19.36
Operating Cash Flow Growth	-	-53.54%	31.58%	-
Capital Expenditures	-0	-0.05	-0.1	-0.3
Sale of Property, Plant & Equipment	-	-	-	0.38
Cash Acquisitions	-	2.82	-	-
Investment in Securities	26.91	-0.47	1.35	-3.43
Other Investing Activities	-5.2	-0.17	-0.48	-
Investing Cash Flow	21.7	2.14	0.78	-3.34
Issuance of Common Stock	-	2.67	-	-
Common Dividends Paid	-5.35	-5.07	-9.62	-14.28
Other Financing Activities	13.77	-22.42	-5.77	-
Financing Cash Flow	8.42	-24.82	-15.39	-14.28
Net Cash Flow	12.87	-10.84	10.87	1.74
Free Cash Flow	-17.26	11.79	25.38	19.06
Free Cash Flow Growth	-	-53.55%	33.16%	-
Free Cash Flow Margin	-22.88%	20.62%	53.70%	31.65%
Free Cash Flow Per Share	-0.93	0.65	1.41	-
Cash Income Tax Paid	2.89	-	-	0.66
Levered Free Cash Flow	-14.69	10.39	-6.49	-
Unlevered Free Cash Flow	-14.69	10.39	-6.49	-
Change in Working Capital	17.83	17.83	11.91	4.38

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