Frontier Management Cash Flow Statement

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

Millions JPY. 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	-1,107	-710	1,240	868	514
Depreciation & Amortization	452.28	102	104	84	36
Other Amortization	1.74	-	-	-	-
Asset Writedown & Restructuring Costs	137.5	-	-	-	-
Loss (Gain) From Sale of Investments	-	-	-1	53	-
Loss (Gain) on Equity Investments	10.3	48	-4	-8	-6
Stock-Based Compensation	11.82	-	-	-	-
Other Operating Activities	-390.11	-367	-413	-341	-205
Change in Accounts Receivable	-60.04	104	-1,074	214	-118
Change in Accounts Payable	-4.25	160	100	33	-65
Change in Other Net Operating Assets	-1,104	-1,855	273	347	160
Operating Cash Flow	-2,051	-2,518	225	1,250	316
Operating Cash Flow Growth	-	-	-82.00%	295.57%	-30.70%
Capital Expenditures	-7.9	-1	-37	-87	-26
Cash Acquisitions	-1,148	-	-1,252	-241	-
Divestitures	6.33	-	-	-	-
Sale (Purchase) of Intangibles	-13.42	-25	-7	-3	-4
Investment in Securities	-	-	5	-	-
Other Investing Activities	2.51	-37	-86	-155	-1
Investing Cash Flow	-1,161	-63	-1,377	-486	-31
Short-Term Debt Issued	800	-	-	-	-
Long-Term Debt Issued	3,600	50	1,000	860	-
Total Debt Issued	4,400	50	1,000	860	-
Long-Term Debt Repaid	-3,508	-242	-189	-91	-
Total Debt Repaid	-3,508	-242	-189	-91	-
Net Debt Issued (Repaid)	891.51	-192	811	769	-
Issuance of Common Stock	0.06	-	306	1	3
Repurchase of Common Stock	-	-	-	-	-270
Common Dividends Paid	-0.08	-481	-320	-113	-137
Other Financing Activities	167.72	4,975	2,990	-11	-
Financing Cash Flow	1,059	4,302	3,787	646	-404
Foreign Exchange Rate Adjustments	13.55	2	3	4	4
Miscellaneous Cash Flow Adjustments	-0	-1	1	-	1
Net Cash Flow	-2,139	1,722	2,639	1,414	-114
Free Cash Flow	-2,059	-2,519	188	1,163	290
Free Cash Flow Growth	-	-	-83.84%	301.03%	-36.12%
Free Cash Flow Margin	-15.27%	-27.19%	1.88%	14.69%	5.05%
Free Cash Flow Per Share	-175.10	-214.62	16.01	100.13	25.04
Cash Interest Paid	325.1	19	12	8	1
Cash Income Tax Paid	204.78	375	412	343	204
Levered Free Cash Flow	-	-2,376	193.63	1,142	220.5
Unlevered Free Cash Flow	-	-2,365	200.5	1,147	221.13
Change in Working Capital	-1,168	-1,591	-701	594	-23

Source: S&P Global Market Intelligence. Standard template. Financial Sources.