SWDR Cash Flow Statement

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

Millions USD. 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	-691.62	-684.88	-649.7	-65.71	-302.25
Depreciation & Amortization	703.6	739.76	807.95	845.37	329.27
Other Amortization	24.88	22.25	35.11	37.57	8.55
Gain (Loss) on Sale of Assets	-21.08	-87.11	-289.82	-	-
Gain (Loss) on Sale of Investments	-	7.56	53.63	35.18	-
Asset Writedown	5.12	150.39	188.8	-	-
Stock-Based Compensation	0.84	0.84	0.84	0.89	0.54
Income (Loss) on Equity Investments	39.64	35.25	25.76	101.32	205.03
Change in Other Net Operating Assets	27.82	41.47	21.88	-53.11	-28.38
Other Operating Activities	256.41	203.65	362.12	-306.61	20.37
Operating Cash Flow	345.61	429.19	556.57	594.91	233.13
Operating Cash Flow Growth	-19.47%	-22.89%	-6.44%	155.19%	106.59%
Acquisition of Real Estate Assets	-173.47	-185.54	-180.18	-5,269	-12,977
Sale of Real Estate Assets	1,202	443.16	2,180	-	-
Net Sale / Acq. of Real Estate Assets	1,028	257.62	1,999	-5,269	-12,977
Investment in Marketable & Equity Securities	86.83	641.19	180.07	-1,274	-927.85
Other Investing Activities	71.91	15.73	52.23	57.18	-
Investing Cash Flow	1,187	914.54	2,232	-6,487	-13,905
Short-Term Debt Issued	290.33	-	-	644.13	274.03
Long-Term Debt Issued	3,067	1,258	2,371	4,018	8,750
Total Debt Issued	3,358	1,258	2,371	4,662	9,024
Short-Term Debt Repaid	-245.59	-243.38	-5.47	-128.38	-108.25
Long-Term Debt Repaid	-3,926	-1,053	-2,842	-1,639	-473.03
Total Debt Repaid	-4,172	-1,297	-2,847	-1,767	-581.28
Net Debt Issued (Repaid)	-814.12	-39.35	-475.96	2,895	8,443
Issuance of Common Stock	34.65	101.24	318.5	4,802	6,140
Repurchase of Common Stock	-472.94	-1,066	-2,611	-1,347	-64.55
Common Dividends Paid	-341.82	-325.45	-356.18	-311.91	-117.38
Other Financing Activities	-47.52	-35.64	-69.15	-127.28	-82.71
Foreign Exchange Rate Adjustments	11.27	3.61	-10.35	-3.18	-
Net Cash Flow	-97.67	-17.7	-415.97	16.05	647.14
Cash Interest Paid	792.8	965.39	913.27	442.97	122.28
Levered Free Cash Flow	526.13	417	568.07	68	-310.43
Unlevered Free Cash Flow	1,013	932.97	1,081	589.53	-238.14
Change in Working Capital	27.82	41.47	21.88	-53.11	-28.38

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