Centerspace Cash Flow Statement

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

Millions USD. 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	17.59	-10.69	41.97	-13.47	0.61
Depreciation & Amortization	114.64	107.65	103.17	105.26	93.11
Other Amortization	-	-	-	0.95	-
Gain (Loss) on Sale of Assets	-79.47	0.58	-71.24	-0.04	-27.52
Gain (Loss) on Sale of Investments	0.41	0.71	0.94	-0.12	-
Asset Writedown	37.72	-	5.22	-	-
Stock-Based Compensation	3.45	3.01	3.3	2.62	2.69
Change in Accounts Payable	0.25	1.44	-2.11	0.65	15.75
Change in Other Net Operating Assets	-5.62	-4.9	-0.76	-0.65	-5.4
Other Operating Activities	8.32	-0.5	8.7	-4.56	4.79
Operating Cash Flow	98.45	98.25	89.52	91.99	84.03
Operating Cash Flow Growth	0.21%	9.75%	-2.69%	9.48%	37.24%
Acquisition of Real Estate Assets	-240.41	-57.68	-101.05	-161.23	-306.13
Sale of Real Estate Assets	212.24	18.25	223.26	0.04	61.33
Net Sale / Acq. of Real Estate Assets	-28.18	-39.43	122.21	-161.19	-244.8
Other Investing Activities	1.31	2.27	-0.42	1.1	-3.81
Investing Cash Flow	-26.87	-50.72	120.21	-160.09	-267.23
Long-Term Debt Issued	455.19	130.54	225.1	291.39	629.85
Total Debt Issued	455.19	130.54	225.1	291.39	629.85
Long-Term Debt Repaid	-444.41	-124.04	-365.35	-183.32	-516.73
Total Debt Repaid	-444.41	-124.04	-365.35	-183.32	-516.73
Net Debt Issued (Repaid)	10.79	6.5	-140.25	108.07	113.12
Issuance of Common Stock	-	112.07	-	31.44	156.04
Repurchase of Common Stock	-4.63	-4.7	-11.54	-29.06	-
Preferred Share Repurchases	-10.62	-97.04	-	-	-
Common Dividends Paid	-51.08	-45.79	-43.74	-44.46	-38.49
Preferred Dividends Paid	-0.49	-5.46	-7.07	-7.07	-7.07
Total Dividends Paid	-51.56	-51.25	-50.81	-51.53	-45.56
Other Financing Activities	-13.04	-9.25	-9.75	-17.55	-9.09
Net Cash Flow	2.52	3.86	-2.62	-26.73	31.32
Cash Interest Paid	40.69	33.54	34.18	31.27	26.53
Levered Free Cash Flow	101.42	80.48	104.12	109.77	90.04
Unlevered Free Cash Flow	129.48	103.78	126.89	129.29	110.03
Change in Working Capital	-5.37	-3.46	-2.87	0.01	10.35

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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