Pembina Pipeline Cash Flow Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	1,694	1,874	1,776	2,971	1,242
Depreciation & Amortization	987	862	663	683	723
Stock-Based Compensation	94	84	72	126	100
Other Adjustments	830	810	344	-861	1,029
Changes in Income Taxes Payable	-346	-404	-236	-334	-355
Changes in Unearned Revenue	-24	-3	-33	-	-
Changes in Other Operating Activities	66	-9	49	344	-89
Operating Cash Flow	3,301	3,214	2,635	2,929	2,650
Operating Cash Flow Growth	2.71%	21.97%	-10.04%	10.53%	17.67%
Capital Expenditures	-812	-981	-621	-626	-683
Sale of Property, Plant & Equipment	139	38	17	640	-
Purchases of Investments	-410	-371	-265	-95	-335
Proceeds from Sale of Investments	-	63	61	-	-
Payments for Business Acquisitions	-	-2,620	-	-	-41
Other Investing Activities	-7	-42	19	-73	20
Investing Cash Flow	-1,090	-3,913	-789	-154	-1,039
Short-Term Debt Issued	191	-274	14	339	-623
Net Short-Term Debt Issued (Repaid)	191	-274	14	339	-623
Long-Term Debt Issued	1,021	2,733	490	-	1,587
Long-Term Debt Repaid	-1,238	-1,087	-676	-1,085	-687
Net Long-Term Debt Issued (Repaid)	-217	1,646	-186	-1,085	900
Issuance of Common Stock	6	1,239	1	310	16
Repurchase of Common Stock	-	-	-50	-333	-17
Net Common Stock Issued (Repurchased)	6	1,239	-49	-23	-1
Repurchase of Preferred Stock	-451	-	-	-300	-420
Net Preferred Stock Issued (Repurchased)	-451	-	-	-300	-420
Common Dividends Paid	-1,638	-1,569	-1,459	-1,525	-1,386
Preferred Share Dividends Paid	-134	-132	-120	-126	-135
Other Financing Activities	-	-232	-	-	-
Financing Cash Flow	-2,243	678	-1,800	-2,720	-1,665
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-3	11	-2	9	16
Net Cash Flow	-35	-10	44	64	-38
Free Cash Flow	2,489	2,233	2,014	2,303	1,967
Free Cash Flow Growth	11.46%	10.87%	-12.55%	17.08%	67.12%
FCF Margin	32.00%	30.24%	31.81%	19.83%	22.80%
Free Cash Flow Per Share	4.28	3.89	-	4.16	3.57
Levered Free Cash Flow	1,395	2,558	1,298	2,163	971
Unlevered Free Cash Flow	2,027	1,950	1,976	3,487	1,174

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.