Canadian Utilities 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	118	130	491	717	639	400
Depreciation & Amortization	189	1,293	711	-	-	-
Other Adjustments	2,215	2,525	2,307	1,164	1,395	1,270
Change in Receivables	-	193	-49	-	-	-
Changes in Inventories	-	-15	-15	-	-	-
Changes in Accounts Payable	-	-156	-8	-	-	-
Changes in Other Operating Activities	-31	22	-94	-101	106	48
Operating Cash Flow	2,028	2,061	1,917	1,780	2,140	1,718
Operating Cash Flow Growth	-1.17%	7.51%	7.70%	-16.82%	24.56%	5.33%
Capital Expenditures	-1,369	-1,439	-1,490	-1,200	-1,224	-1,078
Sale of Property, Plant & Equipment	11	7	1	3	1	30
Purchases of Intangible Assets	-146	-128	-105	-139	-145	-143
Payments for Business Acquisitions	-	-30	-	-691	-	-84
Proceeds from Business Divestments	-	-	114	-	8	-
Other Investing Activities	-74	-93	100	-226	104	13
Investing Cash Flow	-1,640	-1,642	-1,409	-2,253	-1,256	-1,262
Net Short-Term Debt Issued (Repaid)	-	-	-	-	-206	206
Long-Term Debt Issued	2,119	2,126	650	1,872	576	461
Long-Term Debt Repaid	-911	-636	-364	-871	-347	-167
Net Long-Term Debt Issued (Repaid)	1,208	1,490	286	1,001	229	294
Issuance of Common Stock	21	18	-	18	1	-117
Net Common Stock Issued (Repurchased)	21	18	-	18	1	-117
Issuance of Preferred Stock	-	201	-	-	-	201
Repurchase of Preferred Stock	-	-250	-	-	-	-110
Net Preferred Stock Issued (Repurchased)	-	-49	-	-	-	91
Common Dividends Paid	-499	-498	-473	-458	-460	-476
Preferred Share Dividends Paid	-89	-90	-88	-89	-82	-72
Other Financing Activities	-549	-544	-515	-491	-414	-404
Financing Cash Flow	43	327	-790	-19	-932	-478
Effect of Exchange Rate Changes on Cash and Cash Equivalents	6	5	-5	1	-4	-6
Net Cash Flow	431	746	-282	-492	-48	-22
Free Cash Flow	659	622	427	580	916	640
Free Cash Flow Growth	5.95%	45.67%	-26.38%	-36.68%	43.13%	-22.71%
FCF Margin	17.86%	16.86%	11.41%	15.28%	22.63%	18.21%
Free Cash Flow Per Share	2.42	2.29	1.57	2.15	3.40	2.37
Levered Free Cash Flow	104	1,314	-130	407	-463	-137
Unlevered Free Cash Flow	-802.35	129.75	-65.08	-265.86	-196.1	-331.12

Updated May 6, 2026. Data Source: Fiscal.ai. Utilities template. Financial Sources.