First National Financial Cash Flow Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 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
Net Income	207.93	203.39	252.81	197.73	194.56	190.23
Depreciation & Amortization	27.71	31.79	29.46	27.83	23.39	18.49
Other Adjustments	-31.86	-33.28	54.53	-27.25	-41.94	27.36
Changes in Securities Borrowed	740.08	422.72	299.81	-275.22	-793.16	530.02
Changes in Trading Liabilities	-734.38	-402.16	-409.69	420.37	855.76	-621.32
Changes in Other Operating Activities	254.97	-986.17	-330.42	165.68	-641.5	-391.86
Operating Cash Flow	464.45	-763.72	-103.51	509.16	-402.89	-247.06
Operating Cash Flow Growth	-32.17%	-	-	-	-	-
Net Change in Loans Held-for-Investment	-48.14	131.01	-80.4	15.11	36.12	154.04
Capital Expenditures	-0.79	-4.38	-6.2	-12.38	-31.96	-3.59
Other Investing Activities	-18.41	-21.24	9.16	-55.6	-16.9	-4.62
Investing Cash Flow	-70.61	105.4	-77.45	-52.87	-12.74	145.83
Net Change in Short-Term Interbank Borrowing and Repurchase Agreements	-76.27	850.93	163.25	-407.08	349.58	346.38
Long-Term Debt Issued	0.4	199.47	199.09	-	-	199.29
Long-Term Debt Repaid	-5.64	-205.59	-5.63	-5.64	-4.23	-178.9
Net Long-Term Debt Issued (Repaid)	-5.24	-6.12	193.46	-5.64	-4.23	20.4
Common Dividends Paid	-183.07	-181.12	-192.88	-144.01	-212.31	-150.62
Financing Cash Flow	-464.57	663.69	163.82	-556.73	133.05	216.16
Net Cash Flow	-70.72	5.37	-17.13	-100.45	-282.59	114.93
Free Cash Flow	463.66	-768.1	-109.71	496.78	-434.85	-250.65
FCF Margin	49.89%	-90.92%	-12.12%	59.49%	-56.89%	-37.29%
Free Cash Flow Per Share	7.73	-12.81	-1.83	8.28	-7.25	-4.18
Levered Free Cash Flow	490.28	-740.94	29.23	518.39	-397.15	-257.62
Unlevered Free Cash Flow	287.59	-938.21	-417.04	326.29	-587.47	-468.24