Caribbean Utilities Company, Ltd. (TSX:CUP.U)

TSX:CUP.U Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	47.37	42.69	38.66	33.18	30.32
Depreciation & Amortization	50.18	45.4	42.01	38.99	39.14
Other Amortization	0.12	0.12	0.12	0.11	0.11
Change in Accounts Receivable	0.68	3.31	-6.07	-10.29	-7.21
Change in Inventory	2.08	-0.76	2.26	-2.67	-1.84
Change in Accounts Payable	-1.89	-5.36	-4.51	13.48	7.94
Change in Other Net Operating Assets	-12.95	6.07	8.31	-16.61	-6.46
Operating Cash Flow	85.59	91.46	80.78	56.19	62.01
Operating Cash Flow Growth	-6.43%	13.23%	43.77%	-9.39%	-6.77%
Capital Expenditures	-88.45	-100.28	-100.28	-96.02	-62.04
Sale of Property, Plant & Equipment	0.44	0.8	0.1	0.03	0.08
Sale (Purchase) of Intangibles	-1.42	-0.98	-1.28	-1.21	-1.22
Other Investing Activities	-	0.03	0.24	0	0.05
Investing Cash Flow	-89.43	-100.43	-101.22	-97.19	-63.13
Short-Term Debt Issued	35	-	59.64	120	-
Long-Term Debt Issued	-	80	-	-	-
Total Debt Issued	35	80	59.64	120	-
Short-Term Debt Repaid	-	-59.64	-	-40	-
Long-Term Debt Repaid	-19.94	-19.94	-19.48	-15.56	-14.13
Total Debt Repaid	-19.94	-79.57	-19.48	-55.56	-14.13
Net Debt Issued (Repaid)	15.07	0.43	40.16	64.44	-14.13
Issuance of Common Stock	0.78	52.11	1.4	1.63	1.56
Common Dividends Paid	-30.34	-27.36	-	-	-
Dividends Paid	-30.34	-27.36	-25.08	-24.48	-24.54
Financing Cash Flow	-14.5	25.18	16.47	41.59	-37.11
Net Cash Flow	-18.34	16.21	-3.96	0.59	-38.23
Free Cash Flow	-2.86	-8.81	-19.5	-39.83	-0.03
Free Cash Flow Margin	-1.01%	-3.00%	-6.79%	-14.90%	-0.01%
Free Cash Flow Per Share	-0.07	-0.23	-0.52	-1.06	-0.00
Cash Interest Paid	20.07	19.59	18.37	12.93	13.1
Levered Free Cash Flow	-27.27	-40.33	-47.67	-59.5	-22.1
Unlevered Free Cash Flow	-14.81	-27.81	-36.27	-51.15	-14
Change in Working Capital	-12.08	3.26	-0.01	-16.1	-7.56

Source: S&P Global Market Intelligence. Utility template. Financial Sources.