TSX:SRU.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	261.39	236.76	413.7	516.05	827.98	75.29
Depreciation & Amortization	5.83	7.36	10.64	10.31	12.46	14.47
Other Amortization	4.21	4.01	3.75	3.61	3.83	4.13
Gain (Loss) on Sale of Assets	-0	0.12	-0.04	-0.32	-0.03	-0.42
Gain (Loss) on Sale of Investments	-	-	-	-42.04	-0.91	8.66
Asset Writedown	34.27	69.23	-101.79	-201.83	-491.53	275.05
Stock-Based Compensation	24.07	24.61	21.98	9.23	27.47	-1.04
Income (Loss) on Equity Investments	2.93	-13.21	-69	0.59	-207.35	-57.2
Change in Accounts Receivable	-5.64	-2.83	-16.49	-7.58	9.1	-21.97
Change in Accounts Payable	-9.22	4.24	8.77	8.07	1.18	-8.84
Change in Other Net Operating Assets	17.04	22.85	13.81	-9.73	-2.35	-3.1
Other Operating Activities	41.65	34.39	60.79	83.19	160.45	-6.58
Operating Cash Flow	372.22	374.21	330.85	370.76	371.62	295.98
Operating Cash Flow Growth	7.63%	13.10%	-10.76%	-0.23%	25.56%	-14.36%
Acquisition of Real Estate Assets	-153.88	-158.89	-132.31	-261.04	-407.74	-96.04
Sale of Real Estate Assets	15.61	16.61	48.69	41.82	81.4	19.54
Net Sale / Acq. of Real Estate Assets	-138.27	-142.28	-83.62	-219.21	-326.34	-76.51
Investment in Marketable & Equity Securities	-17.9	-10.05	-39.37	-22.77	-25.87	-56.45
Other Investing Activities	-	-	-	50.28	-50.28	-
Investing Cash Flow	-199.27	-155.53	1.53	-121.39	-413.17	-157.39
Short-Term Debt Issued	-	-	-	-	300	23
Long-Term Debt Issued	-	574.46	582.72	1,092	68.53	1,750
Total Debt Issued	604.96	574.46	582.72	1,092	368.53	1,773
Long-Term Debt Repaid	-	-460.16	-585.63	-1,049	-736.76	-874.02
Total Debt Repaid	-459.86	-460.16	-585.63	-1,049	-736.76	-874.02
Net Debt Issued (Repaid)	145.1	114.29	-2.91	43.22	-368.23	898.5
Common Dividends Paid	-267.68	-267.63	-267.56	-267.56	-267.55	-259.91
Other Financing Activities	-62.5	-62.39	-62.41	-52.01	-55.03	-37.96
Net Cash Flow	-12.13	2.95	-0.51	-26.98	-732.36	739.22
Cash Interest Paid	159.63	152.95	151.2	139.69	150.55	138.85
Levered Free Cash Flow	168.48	296.32	535.96	194.81	376.13	231.37
Unlevered Free Cash Flow	280.53	406.74	634.55	257.87	462.08	332.68
Change in Working Capital	-2.12	10.93	-9.18	-8.02	39.24	-16.23

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