TSX:BAM 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	FY 2021	FY 2020	2019
Period Ending	Jun '25 Jun 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	2019
Net Income	2,433	2,168	1,839	1,915	1,851	382	Upgrade
Depreciation & Amortization	21	14	14	13	11	7	Upgrade
Loss (Gain) From Sale of Investments	-420	33	-288	-110	-162	162	Upgrade
Loss (Gain) on Equity Investments	-142	-122	21	22	-37	87	Upgrade
Stock-Based Compensation	126	103	33	-48	199	99	Upgrade
Other Operating Activities	183	283	444	196	-232	846	Upgrade
Change in Accounts Receivable	-60	-51	-200	-205	-	-	Upgrade
Change in Accounts Payable	-559	-426	-26	-30	-	-	Upgrade
Change in Other Net Operating Assets	15	-139	-398	-2,127	-187	203	Upgrade
Operating Cash Flow	1,597	1,863	1,439	-374	1,443	1,786	Upgrade
Operating Cash Flow Growth	-14.19%	29.47%	-	-	-19.20%	115.44%	Upgrade
Capital Expenditures	116	-8	-17	-13	-35	-20	Upgrade
Investment in Securities	-1,901	-2,024	-202	1,719	-826	-739	Upgrade
Other Investing Activities	-13	37	-256	-	-	-	Upgrade
Investing Cash Flow	-1,792	-1,995	-475	1,706	-861	-759	Upgrade
Short-Term Debt Issued	-	67	197	172	1,353	136	Upgrade
Long-Term Debt Issued	-	251	-	-	-	-	Upgrade
Total Debt Issued	1,319	318	197	172	1,353	136	Upgrade
Short-Term Debt Repaid	-	-	-	-	-907	-60	Upgrade
Long-Term Debt Repaid	-	-	-	-1,612	-	-	Upgrade
Total Debt Repaid	-	-	-	-1,612	-907	-60	Upgrade
Net Debt Issued (Repaid)	1,319	318	197	-1,440	446	76	Upgrade
Issuance of Common Stock	12	56	-	5,155	52	65	Upgrade
Common Dividends Paid	-2,648	-2,478	-2,101	-3,184	-1,395	-1,264	Upgrade
Other Financing Activities	158	-15	-1	-811	710	547	Upgrade
Financing Cash Flow	-1,250	-2,119	-1,842	-280	-187	-576	Upgrade
Foreign Exchange Rate Adjustments	-6	-12	-	-1	-2	4	Upgrade
Net Cash Flow	-1,451	-2,263	-878	1,051	393	455	Upgrade
Free Cash Flow	1,713	1,855	1,422	-387	1,408	1,766	Upgrade
Free Cash Flow Growth	-0.46%	30.45%	-	-	-20.27%	113.28%	Upgrade
Free Cash Flow Margin	39.37%	46.61%	35.01%	-10.67%	45.61%	81.99%	Upgrade
Free Cash Flow Per Share	1.06	1.17	0.87	-0.24	-	-	Upgrade
Cash Interest Paid	63	22	11	37	171	257	Upgrade
Cash Income Tax Paid	383	449	171	291	188	177	Upgrade
Levered Free Cash Flow	1,726	1,783	788.5	2,105	2,155	-	Upgrade
Unlevered Free Cash Flow	1,895	1,854	851	2,326	2,394	-	Upgrade
Change in Working Capital	-604	-616	-624	-2,362	-187	203	Upgrade

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.