TSX:BEI.UN Cash Flow Statement

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

Millions CAD. 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	196.87	588.22	666.1	283.1	446.27
Depreciation & Amortization	8.86	8.32	7.92	7.78	7.81
Other Amortization	7.23	7.31	7.2	7.19	6.91
Gain (Loss) on Sale of Assets	9.88	-	0.93	-	1.95
Asset Writedown	22.51	-328.66	-597.5	-107.9	-403.87
Stock-Based Compensation	5.6	5.92	7.9	2.36	4.84
Income (Loss) on Equity Investments	2.69	-13.23	1.11	0.25	-
Change in Accounts Receivable	-1.07	-4.45	-0.3	1.51	5.02
Change in Accounts Payable	4.54	5.14	7.34	1.42	0.85
Change in Other Net Operating Assets	1	3.1	0.45	-9.07	-0.16
Other Operating Activities	2.68	-31.36	97.75	-26	93.78
Operating Cash Flow	259.83	241.2	199.8	160.9	161.86
Operating Cash Flow Growth	7.72%	20.72%	24.17%	-0.59%	14.73%
Acquisition of Real Estate Assets	-465.32	-296.1	-163.08	-199.26	-177.83
Sale of Real Estate Assets	235.06	-	-	-	43.31
Net Sale / Acq. of Real Estate Assets	-230.26	-296.1	-163.08	-199.26	-134.52
Investment in Marketable & Equity Securities	11.36	-	1.92	2.99	-6.15
Other Investing Activities	1	2.64	6.33	-0.79	2.8
Investing Cash Flow	-159.73	-351.63	-154.83	-197.06	-137.88
Short-Term Debt Issued	70.88	1.48	-	-	-
Long-Term Debt Issued	167.1	60.3	236.63	352.71	210.2
Total Debt Issued	237.97	61.78	236.63	352.71	210.2
Long-Term Debt Repaid	-213.74	-78.56	-175.76	-239.41	-142.16
Net Debt Issued (Repaid)	24.23	-16.78	60.87	113.31	68.04
Issuance of Common Stock	-	-	239.99	-	-
Repurchase of Common Stock	-58.32	-10.13	-	-21.67	-24.05
Common Dividends Paid	-77.22	-67.81	-52.47	-48.63	-46.59
Other Financing Activities	-14.11	-3.65	-14.97	-18.34	-10.04
Net Cash Flow	-25.32	-208.8	278.39	-11.48	11.34
Cash Interest Paid	119.64	113.12	103.08	88.57	82.95
Cash Income Tax Paid	-0.02	0.01	0	0	-
Levered Free Cash Flow	231.07	41.29	145.75	98.81	105.3
Unlevered Free Cash Flow	304.07	109.7	208.04	152.26	154.7
Change in Working Capital	3.51	4.67	8.39	-5.88	4.13

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.