TSX:NWH.UN 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	49.7	-299.76	-347.69	58.33	438.28	234.53
Depreciation & Amortization	2.2	3.67	1.27	1.4	1.38	1.58
Other Amortization	9.37	22.66	19.07	17.76	12.19	11.05
Gain (Loss) on Sale of Assets	8.36	34.67	12.24	-	-	-0.09
Gain (Loss) on Sale of Investments	7.51	7.51	18.51	-58.53	-	-
Asset Writedown	53.87	368.79	571.76	28.8	-513.99	-174.42
Stock-Based Compensation	4.91	0.78	-4.13	-4.58	3.78	6.83
Income (Loss) on Equity Investments	-1.93	30.73	19.23	-11.97	-107.48	-52.09
Change in Accounts Receivable	11.84	1.79	-13.58	26.83	-36.83	2.13
Change in Accounts Payable	-7.45	-6.24	5.65	18.9	21	18.73
Change in Other Net Operating Assets	6.19	-2.38	5.7	8.85	-3.85	8.26
Other Operating Activities	-24.06	-75.57	-183.26	142.8	310.48	132.25
Operating Cash Flow	120.51	86.64	104.77	228.58	124.97	188.77
Operating Cash Flow Growth	38.00%	-17.30%	-54.17%	82.91%	-33.80%	46.77%
Acquisition of Real Estate Assets	-143.93	-186.22	-273.75	-1,225	-775.05	-975.14
Sale of Real Estate Assets	165.43	454.66	344.7	7.07	56.58	194.45
Net Sale / Acq. of Real Estate Assets	21.5	268.44	70.96	-1,218	-718.48	-780.69
Investment in Marketable & Equity Securities	223.55	64.16	136.29	-125.59	-139.05	0.87
Other Investing Activities	-2.41	0.68	-12.99	-17.56	-55.29	-46.95
Investing Cash Flow	243.11	540.08	194.26	-1,361	-914.83	-628.53
Long-Term Debt Issued	-	532.68	907.21	2,464	1,567	1,534
Total Debt Issued	1,192	532.68	907.21	2,464	1,567	1,534
Long-Term Debt Repaid	-	-1,057	-1,034	-1,383	-1,187	-1,082
Total Debt Repaid	-1,437	-1,057	-1,034	-1,383	-1,187	-1,082
Net Debt Issued (Repaid)	-244.83	-524.78	-126.61	1,081	380.64	451.45
Issuance of Common Stock	-	-	-	179.11	427.81	121.78
Repurchase of Common Stock	-	-	-	-	-	-7.2
Common Dividends Paid	-76.85	-78.43	-148.75	-154.74	-136.35	-129.95
Other Financing Activities	-35.61	-47.36	-43.15	72.03	39.09	-38.48
Foreign Exchange Rate Adjustments	5.6	3	3.52	-19.14	-2.73	-5.89
Net Cash Flow	11.92	-20.84	-15.96	25.29	-81.41	-48.04
Cash Interest Paid	144.64	190.61	227.84	136.43	97.1	105.69
Cash Income Tax Paid	18.67	28.94	22.36	17.83	26.29	13.64
Levered Free Cash Flow	122.08	16.93	566.63	-300.14	176.55	290.54
Unlevered Free Cash Flow	202.27	127.47	699.91	-250.49	206.05	354.5
Change in Working Capital	10.59	-6.83	-2.22	54.58	-19.67	29.12

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