BIG Shopping Centers Cash Flow Statement

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

Millions ILS. 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	1,580	1,459	860.99	1,205	1,048	-9.14
Depreciation & Amortization	13.09	9.51	8.72	10.07	10.36	10.49
Asset Writedown	-1,356	-1,357	-512.76	-1,122	-816.68	225.61
Stock-Based Compensation	35.2	41.33	24.14	70.68	23	14.07
Income (Loss) on Equity Investments	-232.83	-253.73	-119.3	-221.42	-363.08	45.14
Change in Accounts Receivable	27	-7.26	-48.95	-51.25	-58.3	-9.09
Change in Accounts Payable	-37.92	-4.45	17.85	73	6.58	-22.65
Change in Other Net Operating Assets	-14.57	45.43	-40.25	201.62	-38.78	-11.14
Other Operating Activities	886.6	903.71	460.77	645.14	613.22	-84.11
Operating Cash Flow	878.21	806.96	652.32	693.84	604.18	159.19
Operating Cash Flow Growth	28.22%	23.71%	-5.99%	14.84%	279.54%	-37.12%
Acquisition of Real Estate Assets	-2,961	-3,430	-2,375	-2,229	-2,103	-691.32
Sale of Real Estate Assets	181.14	116.39	137.92	799.41	343.06	160.64
Net Sale / Acq. of Real Estate Assets	-2,780	-3,314	-2,237	-1,429	-1,760	-530.67
Cash Acquisition	-68.79	-	-214.18	-	470.38	-
Investment in Marketable & Equity Securities	-434.09	388.96	-526.48	-179.49	-30.01	312.61
Other Investing Activities	-105.77	-37.03	-310.19	-429.59	-82.82	-486.29
Investing Cash Flow	-3,326	-2,974	-3,425	-1,899	-1,184	-700.38
Short-Term Debt Issued	-	151.93	239.84	192.49	305.15	-
Long-Term Debt Issued	-	4,675	3,561	4,916	3,514	1,687
Total Debt Issued	6,588	4,827	3,801	5,109	3,819	1,687
Short-Term Debt Repaid	-	-	-	-	-	-558.6
Long-Term Debt Repaid	-	-1,751	-1,839	-3,508	-1,944	-742.41
Total Debt Repaid	-3,389	-1,751	-1,839	-3,508	-1,944	-1,301
Net Debt Issued (Repaid)	3,199	3,077	1,962	1,601	1,875	385.67
Issuance of Common Stock	12.17	12.17	44.45	0.15	429.93	2.97
Repurchase of Common Stock	-3.27	-	-50.29	-	-	-
Common Dividends Paid	-200	-	-	-	-200	-
Other Financing Activities	154.21	34.89	-51.99	-42.46	-158.4	-0.34
Foreign Exchange Rate Adjustments	-73.21	-38.98	38.77	90.78	-51.52	-9.91
Net Cash Flow	641.14	917.46	-829.51	444.96	1,315	-162.81
Cash Interest Paid	790.89	662.83	500.38	391.79	361.56	160.26
Cash Income Tax Paid	133.75	91.94	68.07	186.04	376.34	17.27
Levered Free Cash Flow	-220.42	670.99	109.61	394.63	218.96	427.99
Unlevered Free Cash Flow	498.96	1,284	568.34	874.59	521.03	515.32
Change in Working Capital	-50.06	3.42	-70.23	106.3	89.05	-42.88

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