TSX:AP.UN Cash Flow Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	-1,367	-1,328	-342.53	-420.72	375.36	443.15
Depreciation & Amortization	40.05	39.64	38.51	32.96	33.63	33.47
Stock-Based Compensation	7.79	6.53	5.28	4.14	4.42	4.12
Other Adjustments	1,349	1,483	505.78	635.61	-131.13	-274.47
Changes in Other Operating Activities	87.1	53.67	-59.21	68.9	38.91	34.85
Operating Cash Flow	245.2	255.29	147.84	320.89	321.19	241.11
Operating Cash Flow Growth	71.70%	72.68%	-53.93%	-0.10%	33.21%	-32.32%
Capital Expenditures	-284.97	-278.17	-417.63	-528.22	-673.54	-759.26
Sale of Property, Plant & Equipment	175.77	132.76	144.37	1,277	89.69	71.59
Other Investing Activities	-54.95	-63.76	-108.2	-88.98	-70.5	-53.26
Investing Cash Flow	-162.59	-208.19	-381.47	659.85	-654.35	-740.92
Short-Term Debt Issued	756.25	284.58	517.72	393.29	636.03	535.59
Short-Term Debt Repaid	-924.79	-672.29	-715.96	-750	-470	-155
Net Short-Term Debt Issued (Repaid)	-168.55	-387.71	-198.24	-356.71	166.03	380.59
Long-Term Debt Issued	911.42	1,359	641.74	15.03	399.3	1,094
Long-Term Debt Repaid	-1,157	-761.16	-49.33	-15.35	-16.93	-798.7
Net Long-Term Debt Issued (Repaid)	-245.11	598.1	592.41	-0.31	382.37	295.2
Issuance of Common Stock	535.76	-	-	-	9.38	20.14
Repurchase of Common Stock	-1.49	-2.04	-1.71	-2.25	-2.66	-2.14
Net Common Stock Issued (Repurchased)	534.28	-2.04	-1.71	-2.25	6.72	17.99
Common Dividends Paid	-199.13	-230.32	-291.74	-229.78	-223.31	-215.92
Other Financing Activities	-2	-2.43	-4.24	-201.6	-0.21	-1.03
Financing Cash Flow	-81.08	-24.41	96.48	-790.66	331.6	476.84
Net Cash Flow	1.52	22.69	-137.15	190.08	-1.56	-22.96
Free Cash Flow	-39.77	-22.88	-269.8	-207.33	-352.35	-518.15
FCF Margin	-6.79%	-3.86%	-45.57%	-36.76%	-67.83%	-109.59%
Free Cash Flow Per Share	-0.27	-0.18	-1.93	-1.48	-2.57	-4.07
Levered Free Cash Flow	-1,938	-1,302	-386.69	-1,630	691.61	871.15
Unlevered Free Cash Flow	147.51	132.11	-109.86	-109.33	-305.8	-422.93

Updated Apr 29, 2026. Data Source: Fiscal.ai. Real Estate template. Financial Sources.