TSX:MHC.UN Cash Flow Statement

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

Millions USD. 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	95.27	103.52	65.1	42.68	60.01	189.35
Depreciation & Amortization	0.52	0.49	0.4	0.29	0.17	0.1
Gain (Loss) on Sale of Assets	-0.05	-	-0.03	0.01	-0.01	-
Asset Writedown	-62.36	-76.57	-43.97	-24.72	-47.44	-11.83
Stock-Based Compensation	1.53	1.17	0.71	0.43	0.27	-
Change in Accounts Receivable	0.64	-1.02	-0.08	-0.12	-0.12	1.52
Change in Accounts Payable	-0.68	-0.25	1.77	-0.65	0.38	2.23
Change in Other Net Operating Assets	0.83	3.62	-0.79	0.16	1.46	-5.38
Other Operating Activities	21.62	21.71	16.44	12.96	10.09	-160.61
Operating Cash Flow	57.33	52.67	39.55	31.03	24.82	15.37
Operating Cash Flow Growth	12.84%	33.16%	27.45%	25.02%	61.48%	-
Acquisition of Real Estate Assets	-45.96	-138.85	-54.83	-77.31	-165.67	-55.34
Sale of Real Estate Assets	2	2.53	3.08	1.84	1.47	-
Net Sale / Acq. of Real Estate Assets	-43.96	-136.32	-51.75	-75.47	-164.21	-55.34
Cash Acquisition	-	-	-	-	-	-227.12
Other Investing Activities	-1.41	0.01	0.15	0.02	-2.42	-
Investing Cash Flow	-45.36	-136.31	-51.6	-75.45	-166.63	-282.46
Short-Term Debt Issued	-	-	-	10	-	-
Long-Term Debt Issued	-	118.89	8	59.46	41.4	-
Total Debt Issued	66.87	118.89	8	69.46	41.4	-
Short-Term Debt Repaid	-	-7	-	-	-	-
Long-Term Debt Repaid	-	-49.04	-0.73	-0.59	-0.48	-
Total Debt Repaid	-42.27	-56.04	-0.73	-0.59	-0.48	-53.67
Net Debt Issued (Repaid)	24.6	62.86	7.27	68.87	40.92	-53.67
Issuance of Common Stock	57.08	57.08	21.86	-	127.49	431.25
Repurchase of Common Stock	-	-0.08	-0.08	-0.05	-	-
Common Dividends Paid	-11.99	-10.78	-8.53	-7.6	-4.97	-2.18
Other Financing Activities	-83.06	-25.99	-17.58	-15.32	-17.69	-62.31
Net Cash Flow	-1.39	-0.55	-9.11	1.48	3.95	46
Cash Interest Paid	23.41	22.2	17.26	11.03	8.12	4.66
Levered Free Cash Flow	23.86	20.58	15.23	11.01	10.06	-
Unlevered Free Cash Flow	38.64	34.49	26.28	19.83	16.88	-
Change in Working Capital	0.79	2.35	0.9	-0.62	1.73	-1.64

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.