Tower Properties Company (TPRP)

Tower Properties Company Cash Flow Statement

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

Fiscal Year	TTM	FY 2011	FY 2010	FY 2009	FY 2008	FY 2007
Period Ending	Mar 31, 2012	Dec 31, 2011	Dec 31, 2010	Dec 31, 2009	Dec 31, 2008	Dec 31, 2007
Net Income	1.27	1.19	-0.08	0.45	0.18	0.48
Depreciation & Amortization	8.17	7.39	5.73	5.59	5.69	5.61
Gain (Loss) on Sale of Assets	-1.39	-1.39	0.01	0.01	0.22	0.04
Stock-Based Compensation	-	-	-	0.02	0.01	0.02
Change in Accounts Receivable	-0.24	-0.46	0.23	0.38	0.51	-0.38
Change in Accounts Payable	1.48	1.4	0.24	-1.24	0.62	0.98
Change in Other Net Operating Assets	-0.18	-0.19	-0.02	0.03	-0.01	0.01
Operating Cash Flow	9.39	8.17	6.01	5.22	7.23	6.44
Operating Cash Flow Growth	59.99%	35.90%	15.07%	-27.80%	12.26%	146.14%
Acquisition of Real Estate Assets	-6.52	-6.5	-3.26	-4.79	-18.07	-4.43
Sale of Real Estate Assets	1.97	1.97	-	0	0	0.06
Net Sale / Acq. of Real Estate Assets	-4.54	-4.52	-3.26	-4.79	-18.07	-4.37
Cash Acquisition	-41.2	-41.2	-	-	-	-
Investing Cash Flow	-45.74	-45.72	-3.26	-4.79	-18.07	-4.37
Long-Term Debt Issued	-	37.12	-	5.07	7.1	7.7
Total Debt Issued	38.12	37.12	-	5.07	7.1	7.7
Long-Term Debt Repaid	-	-3.92	-3.39	-8.6	-4.1	-2.44
Total Debt Repaid	-7.77	-3.92	-3.39	-8.6	-4.1	-2.44
Net Debt Issued (Repaid)	30.35	33.2	-3.39	-3.53	3	5.26
Repurchase of Common Stock	-	-	-	-2.39	-0.84	-
Other Financing Activities	-0.48	-0.48	-	-0.08	-0.1	-0.15
Net Cash Flow	-6.48	-4.83	-0.64	-5.56	-8.77	7.18
Cash Interest Paid	5.67	5.32	4.82	4.93	4.83	4.57
Cash Income Tax Paid	0.19	0.19	-0.01	0.05	0.33	0.64
Levered Free Cash Flow	7.91	6.67	5.46	1.67	6.6	5.6
Unlevered Free Cash Flow	11.5	10.06	8.47	4.73	9.56	8.46
Change in Net Working Capital	-0	0.41	-0.68	1.84	-2.13	-0.69

Updated May 16, 2012. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.