Cascades 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	102	70	-31	-76	-34	103
Depreciation & Amortization	289	287	282	272	252	252
Other Adjustments	23	46	44	201	42	-167
Changes in Other Operating Activities	35	-24	-23	113	-116	-36
Operating Cash Flow	449	379	272	510	144	211
Operating Cash Flow Growth	74.03%	39.34%	-46.67%	254.17%	-31.75%	-55.77%
Capital Expenditures	-144	-152	-161	-350	-501	-286
Sale of Property, Plant & Equipment	58	27	34	7	19	53
Purchases of Intangible Assets	-2	-	-23	-1	-5	-15
Proceeds from Sale of Investments	-	-	-	12	1	1
Proceeds from Business Divestments	91	31	-	-	-	-
Investing Cash Flow	3	-94	-150	-332	-486	-247
Long-Term Debt Issued	541	541	-	-	355	5
Long-Term Debt Repaid	-363	-536	-75	-137	-336	-447
Net Long-Term Debt Issued (Repaid)	178	5	-75	-137	19	-442
Issuance of Common Stock	1	2	2	2	1	2
Repurchase of Common Stock	-	-	-	-	-9	-26
Net Common Stock Issued (Repurchased)	1	2	2	2	-8	-24
Common Dividends Paid	-49	-49	-48	-48	-48	-41
Other Financing Activities	-526	-221	-28	-42	309	-22
Financing Cash Flow	-396	-263	-149	-225	272	-529
Effect of Exchange Rate Changes on Cash and Cash Equivalents	1	-1	-	-1	-2	-1
Net Cash Flow	56	22	-27	-47	-70	-209
Free Cash Flow	305	227	111	160	-357	-75
Free Cash Flow Growth	34.36%	104.51%	-30.63%	-	-	-
FCF Margin	6.43%	4.75%	2.36%	3.45%	-7.99%	-1.90%
Free Cash Flow Per Share	3.00	2.24	1.10	1.58	-3.53	-0.73
Levered Free Cash Flow	460	186	-8	-178	-380	-350
Unlevered Free Cash Flow	401.67	301.04	145.5	67.12	-352.17	-8.16