TSX:HR.UN 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	-774.42	-791.56	-119.71	61.69	844.82	597.91
Stock-Based Compensation	7.57	9.91	3.91	0.08	6.77	8.23
Other Adjustments	1,174	1,191	540.01	414.74	-400.4	45.59
Changes in Other Operating Activities	-68.67	-63.58	2.69	-12.16	-24.9	27.68
Operating Cash Flow	172.06	188.43	274.07	294.63	255.05	452.11
Operating Cash Flow Growth	-27.34%	-31.25%	-6.98%	15.52%	-43.59%	5.90%
Capital Expenditures	-66.03	-97.94	-332.66	-234.12	-277.99	-522.38
Sale of Property, Plant & Equipment	660.74	101.95	353.03	371.9	263.68	818.96
Proceeds from Business Divestments	441.6	-	-	-	-	-
Other Investing Activities	-106.3	-63.19	152.78	-24.92	240.27	1,199
Investing Cash Flow	930.01	-59.19	173.15	112.86	225.95	1,496
Short-Term Debt Issued	-87.96	538.21	31.44	292.21	-	-329.02
Net Short-Term Debt Issued (Repaid)	-87.96	538.21	31.44	292.21	-	-329.02
Long-Term Debt Issued	-374.39	0.82	251.08	-104.64	250	471.18
Long-Term Debt Repaid	-283.21	-527.55	-510.15	-394.53	-301.13	-1,789
Net Long-Term Debt Issued (Repaid)	-657.6	-526.72	-259.06	-499.17	-51.13	-1,318
Issuance of Common Stock	-	-	-	-0.01	-0.33	-
Repurchase of Common Stock	-	-	-	-42.72	-297.06	-
Net Common Stock Issued (Repurchased)	-	-	-	-42.74	-297.39	-
Common Dividends Paid	-157.84	-188.95	-183.36	-170.56	-179.74	-227.31
Other Financing Activities	-	-	-	-	-	-12.14
Financing Cash Flow	-1,103	-177.46	-410.98	-420.26	-528.26	-1,887
Net Cash Flow	-1.33	-48.22	36.24	-12.78	-47.25	61.28
Free Cash Flow	106.03	90.49	-58.59	60.5	-22.94	-70.27
Free Cash Flow Growth	17.18%	-	-	-	-	-
FCF Margin	13.36%	11.10%	-7.17%	7.14%	-2.75%	-6.60%
Free Cash Flow Per Share	0.41	0.34	-0.21	0.21	-0.08	-0.23
Levered Free Cash Flow	-1,655	-941.6	-677.31	-391.56	490.8	-1,544
Unlevered Free Cash Flow	250.59	226.03	4.12	788.03	154.97	133.14

Updated May 14, 2026. Data Source: Fiscal.ai. Real Estate template. Financial Sources.